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Struggling with debt? Ask a stepchange debt adviser a question
If you need help with your debts, this is the thread for you. This is a new thread, as the old one was getting a tad long. Trained advisers from StepChange Debt Charity are here and waiting to answer your debt questions. They're a friendly bunch so please don't be shy! There are three ways to get in touch: 1 - Simply post…
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DMP mutual support thread part 13 !!
Welcome to the DMP mutual support thread Part 13 !! Here you can find help in starting and running your DMP, self managed, Stepchange, Payplan and any other DMP all welcome here, but we do encourage you to use a free service, not one you pay for. There is help on getting interest and charges stopped, how to start with an…
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Charging Order? The myth
I feel that this is so important that I thought a new thread should be made to highlight the importance of understanding the law on Charging Orders and how many people are stuck with their property in the false believe that they have had a Charging Order put on their property. In particular the thousands of Northern Rock…
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The Debt Free Roll Of Honour
Update December 2018. We started this Debt Free Roll of Honour back in 2006 and since then there have been some fabulously inspiring stories, which you'll see if you read below. To read the most recent debt-free announcements click the double arrow above to head to the last page of the discussion Back to Martin's original…
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NEW POSTERS LOOKING FOR DEBT ADVICE - READ HERE FIRST BEFORE POSTING ANYTHING !!!!!
People post on this board looking for advice on many different debt topics. However its sometimes difficult to post in the right place, so, if you are wanting general advice from our panel of regulars on your debt issues, and how to go about solving them, you create a new thread using the big red "create new" button, top…
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Reclaiming money back from various payday loan companies
Hi all just wanted to share some good news regarding payday loan companies..... From early 2011 until mid 2014 I too was caught in the payday loan trap, all my own fault may I add, I borrow the money and in the end paid every penny back, would estimate 15000 over the years maybe 20. Early this year I saw all the news…
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In Debt and Wannabe Debt Free? first Steps to take are here, please read, then ask questions.
This thread provides guidance about some good first steps you should take if you are in debt and want to get debt-free. It doesn’t matter how big or small your debt is, or whether you are comfortably paying your debts and looking for advice on where to cut back further or struggling to cover your basic needs - we are here…
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Pls remember Debt-Free Wannabe's for support and help not judgement
Martin (Lewis) made the following announcement a few years back. But the link in the stickies is broken. Anyhow, here is what Martin said: "Dear Money savers..... Debt Free Wannabe is one of my favorite boards on this site. It's also one which runs a delicate balance. Many people who have serious debts have hidden them for…
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DFW Sticky-Provit/Statute Barred Letters, Defaults, Mental Health Help and Guidance, all here.
Debt-Free Wannabe Sticky - Please read for links to important topics and help Hi folks :) This is the Debt-Free Wannabe Sticky where links to all current important tools and information will be posted. Links: (1) Those who are new to debt, and want to know where to start, check out these first steps :…
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Statute barred debts and the Limitation Act
Statute barred debts and the Limitation Act Statute Barred debts. A debt will be "Statute Barred" if there has been no acknowledgement of the debt by you making a payment or in writing within the relevant limitation period. The debt would then be legally UNENFORCEABLE, unless the creditor has already taken legal action…
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Can old (statute-barred) creditcard debt be reclaimed by Halifax vs a lump-sum to clear my mortgage?
Back in 2008 I took-out 2 credit-cards via Halifax, and spent £13,000 on stuff for my apartment. At that time I was renting privately + didn't own a car | So had no assets which could be seized. ^ (Accordingly therefore, I basically just told Halifax to f**k off / And ignored all letters from the various debt-collection…
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DMP advice
I have reached the point where I can no longer service my debts. I currently owe £36565 in unsecured debts and a secured loan of £15088 (currently with the FOS). I know that I will have to keep paying my secured loan. I have been doing a lot of reading on this site and I feel that a self manged DMP will be the best way for…
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Debt Advice
Sorry if I'm in the wrong place. I'm struggling to navigate the site. Hi everyone, I have autism and ADHD and have unfortunately got myself into a bit of a pickle with debt, mainly due to compulsive spending. This is something I will be getting therapy for over the coming months. At the moment, I have three loans and three…
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Full and Final Settlement - Link Financial
I have managed to settle all of my accounts over the last 6 months through negotiation even a mainstream original lender with the exception of one debt with Link Financial. Despite numerous offers they have countered with a figure which only represents minimal discount way off what my other creditors settled on. When I…
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Advice on settlement
I am currently on a DMP with step . I currently have £9000 debt over 5 creditors. I have been on the DMP for around 4 years and probably another 15 years before its payed off . I’ve decided to get a personal loan to pay off my DMP however the max I could borrow ( as I considered the monthly payments) over 5 years is £5000…
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Clearing overdraft with credit card, switching to close account before DMP
Hi all, Just wondering if it would be worth clearing an overdraft with a credit card, using the switch service to close the account to another overdrawn account, clearing that with a credit card and switching to another overdrawn current? I have clean bank accounts with banks I don't owe to so day to day money is safe that…
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Landmark Default notice
Hello, I thought I’d posted this on the DMP thread but it’s definitely not there now so hoping it’s ok here. My husband and I have been on a DMP since 2022. All but two of the CC/loans have defaulted. The two being updraft and Landmark (we stupidly got a 125% mortgage when we were young and naive). I’ve just had a letter…
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In a current DMP but should I change tactics?
Hi all, Have been trawling the forums for days trying to find the right answer or advice to my situation but can’t find anything specific amongst the brilliant info, so here goes…. I’ve been in a DMP for 2 years now with a total debt of £41k left to pay (originally £50k) - at the current rate it will take me another 9…
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I just wanted to say how proud of us I am.
We had massive debts - about 60K around 2.5 years ago - Managed to get it all but 3K on 0% interest free for 30-36 months and now we are down to 6K with 18 months to go.. Paying off about 2.5-3K a month so won't be long. We are not struggling either - suprised how much we have to clear the bills and I even manage to still…
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AP, then defaulting
I'm exploring a tactic: Breathing space Setting up DMP via Stepchange If interest and charges are not frozen by the creditors, self managing and then defaulting What I would like to know is if anyone has experience of deploying this sequence (or similar), either accidentally or on purpose. As per my original thread, my…
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When is debt a reasonable position to be in or does context affect ideal pace of repayment
When I met my partner, I had a well paid job and a flat in a popular city. When the relationship drew to a close I had barely more than the clothes I stood up in. I got into debt to do a masters which I gained with distinction and in the months before my 50th birthday I got a very well paid job off the back of that…
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Helping a vulnerable relative - where do I start?
Little Sis has had mental health and physical health issues since August. She has been out of work for over 20 months. Income is carers allowance c£83 a week I think. She was in hospital for one week in October but not sure on rules re carers sickness. Household includes our father so has been running on his savings and…
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Advice on making settlement offers to 3rd parties
Hello! I have 4 individual debts that were sold to 3rd parties by the original lenders several years ago. I have submitted CCAs, and unforunately, they were all able to provide the signed credit agreements (I don't feel too bitter though because I did get lucky with quite a few of my other debts!). None of these debts were…
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Credit Cards and pay off early - advice needed if possible
Hi there, I am looking for some advice and I believe this is the best place to ask. Monthly income of £2715.00 Currently I have two large credit cards. One for £5850.00 & £3089.00 I am paying roughly just over £200 P/M per card. I have been considering my options today. One being taking out a consolidation load for £8000…
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To Whom to Address CCA Request
Hi All, I've just found out about a debt (small amount) of my partner's (over 20 years old) and has been passed from one company to another. I thought that he'd been paying £1/£2 nominal amounts on all and we have addressed the others (paid of or stopped paying when no CCA could be produced). This seems to originate from…
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Thoughts on Nationwide / Virgin money merger
Hi, I am currently managing my debt via a DMP. One of the debts is to a virgin money credit card. My salary is paid in to a nationwide current account. My wife and I also have a joint account with nationwide that we use for our day to day spending. Now I know that nationwide said they wouldn't enforce their right of set…
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ACI (and other collection agencies)
Hello all, long story short, I have approx 20k of debt spread across 5-6 credit cards that all defaulted sometime in 2021. The debt was accrued during my previous marriage. I worked full-time, my ex didn’t; choosing to do various different further learning courses and be a full-time parent, rather than work. We, therefore,…
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DMP Help - Credit Union
Hi, I’ve been a follower of the forum for a while after spending many years in a cycle of debt which got worse when my partner lost his job. I’m now in a self managed dmp and all seems to be going well. However, I have 1 loan with My Community Bank that’s in arrears and is very close to defaulting. From reading various…
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Dmp advice
Hi im new here and dont no how to do a post to get dmp advice
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Help DMP not DRO or IVA-should this be in benefits?
63 year old lady Please don’t judge me being on benefits since my health massively deteriorated over past 5 yrs plus and work issues etc Debt credit cards £9k Car asset paid for - Parkers estimate private £4740 - £5920 (needed as long term Ill health and severe mental health,live out in country very little transport, many…
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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Most recent: Splendid September's No-Spend… by KajiKita
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