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Debt-free wannabe

Mutual support and help for those on their journey to becoming debt-free.

Huge debts and mortgage increase...
Hi - looking for some urgent advice. My husband and I have accrued an enormous amount of credit card debt - some is historic, some has occurred more recently after my husband lost work and we had a huge bill for unavoidable building work. We dropped our mortgage to interest only for six months which was the only way we…
Do Lowell offer a reduced final amount if already paying?
Got a default with Lowell for an old credit card. Currently paying £25/month of it and they're not bothering me for more. The default itself reaches the 6 year point in July (4 months time) and there's around £3700 left outstanding. At the present rate of £300/year, it's going to take over 12 years more to pay this off.…
Should I reply or ignore?
In Feb 2020 I wrote to all my creditors asking for a copy of my credit agreement. Almost all of them replied. Though 1 admitted the form was illegible and so was unenforceable. I have since been able to negotiate settlements with all of them and have thankfully cleared all debt except for a dodgy issue with my student loan…
Inhibition
How long does inhibition last as I have one and they keep renewing it every 5 years I had a citi card and was paying Regularly but then had a stroke. The debt keeps getting passed on and is now with Cabot finance. My health is really poor but the solicitor acting on their behalf said they won't accept the settlement figure…
Help with debt collectors
Hello Hoping you can give me some advice regarding some debt collectors that are chasing me for unpaid council tax. I have outstanding council tax due and finally after a long battle with the council involved, got the bill reduced due to my children being in further and higher education and not required to pay thus meaning…
Default of sums act.
I was wondering if anyone could help me. So my due date was 28th feb. And I paid on the 1st march. I then looked at my statement on the 22nd march. And it was on the 8th march I received a late fee payment of £12, I didn’t realise until I scrolled and scrolled on the very bottom page I had a default sum of notice on there…
SafetyNet
Hi, I received the below email in relation to my account which I have a balance of £31. Should i just pay the £31 off fully before the 9th April so its fully settled rather than Partially settled, what's peoples thoughts please? --------------------- Important Information from Tappily/SafetyNet Credit Dear Customer As you…
Inhibition
How long does inhibition last as I have one and they keep renewing it every 5 years I had a citi card and was paying Regularly but then had a stroke. The debt keeps getting passed on and is now with Cabot finance. My health is really poor but the solicitor acting on their behalf said they won't accept the settlement figure…
Debt consolidation advice
Hi. Very new to this. I have 3 credit cards. 1. £2800 2. 600 3. 2100 (£5400) i dont have any problem paying off the minimum payments every month. But i know. This is all interest. I’m looking at how i consolidate them all without an iva. I dont no the apr on them. But i think around the 26apr mark. I’d like to just get rid…
Need advice re Step son taking out loans and getting into Debt.
Hope i have posted this thread in the right place but did not know where to put it. I need some advice please as i am starting to worry a lot about my 23 year old step son who is living with us in our home. he and i have the same name as when i met his mum some 15 years ago step was called the same 1st name as me and later…
Inhibition
How long does inhibition last as I have one and they keep renewing it every 5 years I had a citi card and was paying Regularly but then had a stroke. The debt keeps getting passed on and is now with Cabot finance. My health is really poor but the solicitor acting on their behalf said they won't accept the settlement figure…
David Lloyd clubs and ARC Europe
Hi there, I came into financial difficulty at the end of March last year (2023). I worked as a contractor for a friend's company and it got ended early (i didn't enforce it since I didn't want to cause any detriment to my friend and his company). I was a member of David Lloyd Clubs since January 2023. And had rarely used…
Credit card debt
Hi everyone. I only found out 2 days ago that my husband has run up credit card debt on 3 cards. He's been paying the minimum amount on each but not making much of a dent on the debt. I'm heartbroken as I thought we were doing OK financially. I've always saved, never been in debt myself etc. We have a mortgage together…
Help, my DMP is eating me alive! (need to save up some money while on DMP)
Hello everyone and thank you for all your activity here. Thanks to you I’ve found out that I don’t have to sell my body organs to pay my debts back. So here is my situation: I am a Polish citizen, who had a nasty last few years. Been working full time, but had to take care of my mother who got sick and that meant getting…
DMP, IVA, DCA??? HELP!
Hi everyone, Been lurking around on these forums and posts and trying to get an idea of who is in similar position to myself. Little bit about my situation: 50k worth of CC debts, across 6 cards Shared ownership home with my wife and 2 kids (75% rent 25% mortgage) Decent car on PCP with 40 months left to pay on that I've…
Car Finance 50%
Hi, Ive got a car on HP which im no longer able to afford. Can i hand the car back and make arrangements with the car finance company to continue to pay up to the 50% mark? Thanks.
Advice needed regarding making offers...
Hi, sadly I am here again, after being debt free for a good few years. I hope this is the correct part of the forum to post. I have 4 credit cards, all on hold or in default and two with agencies. Next month I will have a lump sum settlement, not enough to pay all the debt off in full but to be able to make quite…
Moving from StepChange to Self Managed DMP...
Hello all I've been on a DMP with StepChange for three years and my debt currently stands at £2,555 and I owe to six creditors - four are with debt collection agencies and two are still with the original creditor. SC have been brilliant and a life saver at the start of the plan - the thing is I have been considering going…
Multiple joint debts and banking query
Hello all. Myself and my husband have came to the realisation we cannot afford to pay off our debts - we are spending far more than is coming in and have been finding we are paying our CC's just so we can then use the money for food shops etc. We have got ourselves into such a mess trying to clear off one debt, by securing…
What to do with £10,000 if I have a mortgage and loan
I have a mortgage with 20 years and £145,682 outstanding. Interest is fixed at 1.19% until Dec 2026. I have a 5 year loan for £30,000, (4.9% APR) which I'm 12 months into and there's £27,036 outstanding. Now the good news. I have £10,000. Do I:* Overpay my mortgage by £10,000 * Overpay my loan by £10,000 * Neither, invest…

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MSE News

Ofgem proposes new 'no standing charge' Price Cap – but Martin Lewis warns vulnerable customers need to be opted in or it won't work
Ofgem has today launched detailed proposals for a major shake up to its Energy Price Cap that dictates the price over 80% of homes in England, Scotland and Wales pay for their energy bills.
Lloyds, Halifax and Bank of Scotland to cut overdraft rates for millions but hike them for others – here's what's happening and full help
If you're a Lloyds, Halifax or Bank of Scotland current account holder, the interest rate you're charged for using your overdraft could change soon as part of a fees shake-up. The Lloyds Banking Group, which owns all three brands, says millions of its customers will pay less after the changes – but a "few" will pay more.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more low-income households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Martin Lewis: At last a chance to fix Council Tax flaws impacting millions – debt collection, difficulty challenging your band, discounts and more
Major flaws in the Council Tax system in England could finally be fixed in future, as the Government has launched a wide-ranging consultation to review hideous debt collection practices, the difficulty of challenging your band, the overly complex and horribly-named Severe Mental Impairment discount and more. MoneySavingExpert.com founder Martin Lewis, who has long campaigned on these issues, shares his response and analysis.
Energy complaints to be dealt with more quickly and Energy Ombudsman to get new powers under Government plans
If you have a complaint about your energy firm, it may be resolved more quickly in future, as the Government has announced a raft of proposals to strengthen consumer protections in the energy market. The planned changes include giving the Energy Ombudsman new powers to force firms to comply with its decisions – but it's still very early days. Here's what we know so far.
Warm Home Discount expansion confirmed with millions more eligible for the £150 top-up this winter – here's what we know
Around 2.7 million more households, including 900,000 families with children, will become eligible for the £150 Warm Home Discount this winter, as the Government has confirmed it will remove the existing 'hard to heat' eligibility criteria. The extension has only been confirmed for winter 2025/26, with further changes possible for future years.
Base rate held at 4.25% – here's what it means and when it might be cut next
The Bank of England has held the base rate at 4.25%. Below we explain why, when it might be cut, plus what it means for your mortgage and savings.
Applied for South West Trains 'boundary fares' compensation? Act now to claim it
If you applied for compensation from South West Trains before the deadline in January 2025, you now need to provide your bank details to the claim administrator so it can be paid to you. Here's what you need to know.
Winter Fuel Payments to be reinstated for millions – Martin Lewis explains how it'll work, what it means and if it's an improvement
All State Pensioners in England and Wales will receive a Winter Fuel Payment this winter, though those who earn over £35,000 will see it clawed back through the tax system. It means nine million pensioners will get the £200 or £300 top-up. Here MoneySavingExpert.com founder Martin Lewis shares his instant response and analysis, and we include answers to your key questions.

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