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Help with Very catalogue debt
Hi, I owe Very around £2200 and I'm struggling to pay. If I ignore them and let it default how much would I end up owing? I'm worried about them piling interest on and on.
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why have RBS took back the debt
I owe RBS loan and credit card, both being dealt with moorcroft for nearly 2 years, Moorcroft accept my monthly payment offer for the RBS loan£1500 I made to them last month, but got email on Saturday saying RBS have now taken back the credit card debt £3000 back in-house and moor croft are no longer managing that account.…
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Driving debt down
I have debt of the below £5500 credit card £3500 oveedraft £16500 Van £60000borrowed from wife but it’s her daughters money been paying back £400 a month I get paid £2450 a month and usually don’t have any money spare as pay child support £456 and my wife for bills £1200 how can I get out of debt
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My plan is now up in arms
myself and wife owe £10,500 each to about 4 creditors each I was earning about £470 a week net , wife £250 net, we had planned to pay creditors as little as possible to save up and do full and final settlements that was until yesterday, my job has been taking the Micky out of me, been with it for 4 months It is meant to be…
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Better Off Not Clearing Debts?
In attempting to correct a lifetime of financial miss-management,
resulting in debts amounting to over £44,000. I have come to the conclusion
that I would probably be better off not clearing my debts and using a sum of
money recently available from wider family to improve the living conditions for
my children (i.e. not…
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Start of debt free journey
Hi all First of all wow what a forum, How have I never stumbled across this in my 20 years of debt... I have devoured a lot if info and you/ it has given me a lot of knowledge and confidence to get my head out of juggle town and sort out a Credit Free life. This post knocked me for six and was the LBM for me... 6 Years…
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Question on Business Loan
I’m wondering if a business loan should always be credited to the business account My question is a loan was approved based on existing business financial health but the funds were deposited into my personal account Will this be considered a personal loan? I’m paying for the loan and the lender’s name was appearing in my…
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Seeking Guidance on Completing My Business Plan
moved to following Forum page! https://forums.moneysavingexpert.com/discussion/6530175/seeking-guidance-on-completing-my-business-plan/p1?new=1
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consolidate mortgages or not
so hit on difficult times, took out 2 secured loans on house so have mortgage plus these 2 loans to pay. I can pay them each month and havent missed payments but looking to reduce the outgoings. SO do I continue as is paying £491 secure loan 1, £547 secure loan 2 plus £707 for mortgage or look at putting everything into…
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DMP and Defaults
Hi guys, I've never posted before but have constantly been reading and searching through over the last week. About 2 weeks ago it really hit me what a mess I had gotten into financially, I started googling and came across Stepchange and various routes to take (I was completely oblivious to the fact there were even options…
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Tesco Bank default error
Good morning. I’ve received a letter from Tesco Bank stating that they made an error as they failed to send me the required notice of default letter before terminating my credit agreement and recording a default on my credit file. They have now enclosed the required notice of default letter. My intention is to enter a DMP…
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DMP Interest and Charges
So all of the advice on here is to allow CCs, loans and other forms of credit to default before entering into a DMP. I get this is because the defaults will fall off credit report sooner than arrangement to pay markers would… My concern is that if I stop making minimum payments on current debts and wait for them to…
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DMP and defaults
I've applied for a DMP with StepChange. 1. Should I have defaulted first? 2. Does default simply mean missing payments or paying less or is it other official action? 3. I regularly have made payments albeit sometimes minimum and now have stopped whilst I await DMP outcome. I'd regularly pay then reuse the credit as I'd be…
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Debt Management Plan
Hi All Today I took the step to enter a DMP with over 60k debt across 6 lenders. I have agreed to pay a good amount back but still awaiting whether the creditor agree to the payment amounts by the the company I am using. Has anyone had any situations where the creditor declines the payment amount? Really scared and worried…
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Default notices
Hi, I am starting to receive default notices. Please could someone advise me if I need to engage now with the original creditors or wait for the debt to be sold on? I am hoping to enter into a self-managed DMP. Thank you
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DMP & Joint Account Closure
Long time lurker, first time poster. I've amassed £32,000 debt in the last three months due to a terrible gambling addiction. I've now registered with GamStop to permanently self exclude myself from future betting. I'm looking to start a debt management plan with StepChange once my existing debts have defaulted and I've…
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Mortgage questions and debt management plans
I've recently completed a debt management plan, paying off close to £65k over the last 5 years, and I've been looking at the possibility of a mortgage rather than continuing to pay rent. I'm 53, so time is not on my side. I've got approx. £10k deposit available right now, and I started looking at mortgage options, but I am…
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Help please if possible many thanks
Hi all - I am new to this site and would like some advice if possible. I will try to set to provide the headline and my question: Due to a gambling addiction that has recently been acted on I have unsecured credit card debt. I want to pay it all back but need the interest frozen to enable to do so. Min payments have been…
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Help with sale of house funds
Hi everyone, I'm looking for a wee bit help please. My mum recently had to sell her house due to her finances and she is now in a emergency accommodation.She has a little money left from sale of house and wants to clear her debt with it. Council tax and energy are completely up to date but she has a large amount with…
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Newlyn Notice of Enforcement for Mother in law
Hello, I'm hoping someone can help advise on this. My mother in law went into a care home in April 2016. the home she shared with her estranged husband was sold the following year. He has since died. We didn't deal with house sale or any bills. Myself and my husband have an LPA for her. Completely out of the blue a letter…
A place for MoneySavers to share their journeys towards debt-free living.
Forumites help each other push down their debt by setting challenges and encouraging each other to achieve their goals.
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