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Feel like my life is on hold. Feel stuck. Advice greatly needed
Hi all, TL;DR - SOA below Newbie here. In need of a roadmap out of debt. Background: I got into debt around 2021 when I bought my first ever house which, being honest, I couldn't afford on a £1,600 per month salary, but I was desperate for my own place after successive lockdowns. I'm now on +£1k more but dealing with the…
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Advice about multiple debts low income and affordablity
Hi i split from my husband late last year and in the new year the finances got on top of me, I’ve always had poor credit rating but in January an offer came up for a pre approved credit card - struggling with keeping on top of running a rented home alone I took it, then they upped my limit - another offer of 2x more credit…
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Will banks approve my loan after settlement of a previous loan?
Will banks approve my loan after settlement of a previous loan?
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DMP Repayments
Morning all I'm doing a self managed DMP - 6 of my 8 unsecured debts have now defaulted and sold on to the likes of PRA, Cabot and Lowell. I have begun paying these through their websites but when I go to set up a regular payment, all of them require a minimum payment - min £50 a month, but there are a couple that are…
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Unaffordable lending
Just wanted to share a bit of positive news to hopefully give others some encouragement. I’ve recently had a few unaffordable lending complaints upheld — three through the Financial Ombudsman — and the outcomes have made a big difference. One loan has gone down from over £15,000 to £7,100 Another from £9,518 to £6,680 One…
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CCJ / Old Debts / £1 Payments – Timeline not sure what to do next?!
Hi everyone - I never thought I would be back on here asking for advice but here we go Background * My ex wife and I had multiple old debts from over 10 years ago. * Back then we arranged token payments of £1/month to 4 or 5 debt collection agencies each (DCAs). We have subsequently been divorced and I have remarried *…
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Opinions on consolidation loan
Hiya, I'm looking for opinions on if a debt consolidation loan would be worth it - I've been pre-approved through MSE loan calculator for an 11% APR loan that would cover all my CC debt - which totals £4000 - and it would drop my monthly payments from £250 to £130 over 3 years I have 2x credit cards (£2800 and £700), and…
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Default via Arrange to pay
Hi , I started a DMP with PayPlan in March and it’s been going great but I have noticed 3 of my credit cards say arrangement to pay and 2 deliquent .I asked for them to add a default but they won’t as I’m paying ,can I ask PayPlan to holt payment to just them debts to force them to default ?Will PayPlan do that ? I don’t…
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Undiagnosed Autism in adult
Suspected Undiagnosed Autism combined with Dyslexia in my 50yr old son: finances in a mess… heavily in debt. Doesn't own anything, so nothing for the bailiffs to seize. where to turn to … ???? I am his mum & tried to sort it out…didn't work. Is there a form of guardianship in such cases? Has anyone ever considered a…
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£31,000 Credit Card Debt and My Anxiety is Unbearable
Hi everyone, I’m in around £31,000 of credit card debt
across four cards, and the stress and anxiety is seriously affecting my health. I’ve
struggled with anxiety for over 20 years, and this situation has made it so
much worse. I missed my minimum payments in March and will
likely miss them again in April. The constant…
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Sell and rent to get rid of debt?
Currently have significant debt that is accruing 20%+ interest. I have a property that has equity that significantly exceeds debt. I can’t get 0% cards. Am I better off selling, paying off debt and renting? Then keep the equity remaining to put into future property?
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Advice with ref to landlord intends to seek possession of property.
Not sure if i am putting this in the right place in forums but its to do with debt so if its in the wrong place can the mods move it please. 1st of all please do not judge me as i know i have made mistakes which i hope i can put right. We are in Social housing with a housing association and was on ESA and moved across from…
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URGENT HELP PLESE ACI DEBT LETTER
URGENT HELP! Hi there, I need some advice please. Please don't judge me, I was very bad at managing finances when I was younger. Back in Oct 2024, I received a letter from Capquest Opus saying they had taken over an old debt. This was a loan from more than 20 years ago and I hadn't heard anything for years up until then.…
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unknown debt request from arrow
hello we received a letter dated 11/10/2024 from a company called arrow, no idea who they are... the also had another letter inside from a company called opos.. both letters was claiming that they took over a debt on 1/06/2023 and say we owe a debt of £250 from Shop Direct (Carval).. that of we have no idea who they are…
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£45k Unsecured debt - DMP?
Hi all I have £45k in unsecured debt, most accumulated over the past couple of years due to misfortune and questionable choices. I'm now running at a deficit of over £250 a month and have started missing credit card repayments. Most of my credit card debt is now on full interest at 25-30%. From what I've read, my best…
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NatWest - Drydens
Hi, I’m awaiting debts to default on advice from members before setting up payment plans. I have a large NatWest loan (affordability complaint turned down from NatWest but currently with FOS). The amount outstanding is just under £23,000. Ive not had a formal default letter from NatWest for the loan yet. However, a letter…
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Pre-Stepchange DMP questions
Hi everyone, I’ve recently joined the forum and read through many threads but have a few questions if anyone who’s entered a DMP is able to help? For a bit of background, I’m approximately £22k in debt, this is split across seven lenders which I’ve been juggling for years but don’t seem to be getting anywhere with paying…
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Irresponsible lending update
Hi Everyone, I have posted a few times about how I am helping my brother with his finances - lots of debt, shockingly bad mental health and potentially undiagnosed neurodiversity has led him down a road of high debts and a total breakdown. We submitted an irresponsible lending complaint to one of his lenders - this is a…
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Sky TV early termination
Just in case it’s helpful to anyone, I contacted Sky again regarding my TV subscription which I’m in contract for (Sky Ultimate TV package, whole home with two pucks, Sky Cinema) until August 2026 at £63 a month. I was lucky to get a really helpful guy who helped me by explaining he could get it down to £40 but that he’d…
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Statute Barred under Scottish Law
I'm after a bit of advice about Scottish law. Specifically the five year statute of limitation on debts. I have recently had contact from a company claiming that I owe them £250 for a debt that they claim was from 2020, specifically the 9th of June 2020. They contacted me around the 20th of June this year. Now my question…
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