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Cabot Debt Repayment
Hi all I have been making repayments to Cabot for about two years and they sent me a letter to do a payment review so I went online into my Cabot account and upped the payment from £25 to £50 a month last week. The payment plan was updated and the new amount will start on Oct 25th. However today I got an email saying my…
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Update on my self managed DMP
hello! I don’t know if anyone remembers my posts about starting a self managed DMP but thought I would post an update. The credit card companies have been ringing me a lot but I don’t answer. They have sent lots of letters. Mbna has offered to put my interest rate to 0% but most of the others are just to tell me I am…
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Joint mortgage shortfall ex refuses to pay vsok credit file help
Hi everyone, I have another thread on mortgage help however I am also looking for credit file information, does anyone know what happens to credit file if keys handed back to bank as this house may not sell. Original post - I'm dealing with a horrible situation and would be very grateful for any help or advice please! My…
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Drowning in debt - please help
I was a student from September 2021 until June 2024, receiving tax credits and student loans. I was accepted for a £10,000 loan which was £15k with interest and another loan of £15,000 which is £25k with interest. I was also accepted for a credit card with an £11,500 credit limit. All whilst being a student, on child tax…
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Relationship Breakdown Debt
Hello. My son has recently come out of a long relationship and has 2 young children with his ex. I have discovered that she has run up thousands of pound of debt in his name and it seems that he is left to pay it all off. He has mental health issues and lives off UC and PIP payments, and is now also being asked to pay her…
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Merged: Charging Order
This discussion has been merged.
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I may have made a massive mistake dealing with creditors
Hoping you can help me please I am so stressed and think I have made a massive mistake with my creditors. Firstly, I have autism and struggle with communication even when I am online, I do not know how to converse with people properly. Just saying because it’s difficult for me and It causes anguish but I need help please.…
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DMP Where to go from here
Hi MSE forum Hope you are all OK. I am just looking for some advice. I have spoken to StepChange as I have accumulated a large amount of debt. The majority of this is mobile phone debt where I have bought phones to sell to offset my debt. StepChange have advised that the first things I should do are to continue with…
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Debt Sold 4 years after bankcruptcy?
Hello I was declared bankrupt 4 years ago. Yesterday i received a letter from Halifax/Link Financial to say that they had sold my debt and Link Financial will now be retrieving it. I have checked my bankruptcy documents and Halifax was listed as a debt and the full amount owed. Unsure how to proceed with this, any help?
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OPOS CAPQUEST DEBT RECOVERY REQUEST - Is it real?
I received a letter out of the blue telling me i have an opportunity to pay a reduced debt. Everything had been set up so i could just pay online including pin number. I found this really odd. Having read the letter I noticed the client they say they were acting on behalf of, and know I have never had any dealings with…
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How do people afford full and final settlements?
How do people afford full and final settlements? To save for these, surely you must be paying less than all of your disposable income? If so, how do yo get away with that with the likes of PayPlan, who are quite strict? Am I missing something here, how do people do it?
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Looking for ideas
I’m tentatively addressing my finances and I’m looking for ideas. Background: I’m single with a grown up child who lives with me (council rented home) and contributes at 50% of the rent and bills. I’ve recently qualified as a nurse and just started my first post. During my time at university due to various life stuff I…
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Questions about dmp vs defaulting
Hi I’ve been reading the forums and trying to understand best before posting. My partner has unsecured debts of approx 40k across a loan and credit cards. He contacted stepchange and has started the process of a DMP but I have since realised this might not be the best way as ideally want this off his credit file sooner…
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£53,000 in unsecured debt, feeling very scared.
Hi. Looking for some advice please. I am £53,000 in debt with credit cards and loans, plus owe a further £7000 to my mum. Got myself into this mess through a series of bad choices. One being to invest in a property with my ex partner (who is a property mentor and investor) which turned out to be a bad investment. I also…
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Arrears question
Hi all. Coming towards what I thought was the end of my DMP however I have just logged into one of my loan accounts directly to check the estimated balance was correct and I'm so confused. The latest statement they have says my outstanding balance is £1000 of which £3000 is in arrears. I thought I only had around £1000…
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Smaller or larger debt?
Hi. So I have now been defaulted on 4/5 creditors. I plan to pay off with a DMP sorted by myself. Is it best to pay the smaller debts first so clear quicker or does it not really make a difference? Thank you.
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Credit Union on Self Managed DMP
Hi All, I have started my journey on a self mamaged dmp, after getting in to the cycle of borrowing to cover borrowing and now cant keep up with payments. 3 of my loans are with a credit union, My Community Bank. I have seen some comments around how credit unions can be awkward to deal with in these situations. I have…
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Will a loan affect my benefits?
Hi all, needed some advice. I’m in an absolute financial pickle and can’t see a way out other than taking a loan out for £1,000, can’t really elaborate too much so I don’t identify myself. Ideally I’d have taken a smaller loan but my bank only start at a grand. Some payments have bounced and I need them to go through to be…
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In debt and don’t want to lose family
I lied to my partner about my debts, after they have bailed me out previously. I came clean this week and I have been trying to work out a way of paying back my debts as soon as possible but with interest rates, I’m taking from one credit card to pay another. is step change and a dmp a good route to go down? I have £13000…
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Best way to get out of credit card debt when can’t get a 0% card
Hi, wondering if I could get some help please? I’m currently in a bit of a difficult financial situation. My credit rating is currently fair and although I have a new job with more money, I’m struggling to pay off my credit cards. What’s the best way to do it if I haven’t got the credit rating to get a 0% card? I don’t…
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