Any options for low income and relatively low debt?

WhenIam64

it would be a massive weight of my shoulders starting a new job if I could get anything off the repayments and length of time to repay them extended (£150ish per month).

If that is your wish, then the DMP should achieve this in terms of the extension of time. Whether the debt or interest is written off is a choice by the creditor as collecting the debt may be more expensive than the amount collected. They will make a commercial decision.

The other issue will be telling the creditors, direct or through the DMP, of your condition as they should treat your case differently and within the protocols agreed by the credit industry. You'll most likely be required to evidence this.

If you feel you have been given incorrect advice when applying for a loan/credit card, that is something you'd take up with the FCA. Can't say one way or another on this, as it would be down to the facts/evidence of the application process.

socks_uk

Have you tried to do a balance transfer on your credit card to a 0% interest one? My credit rating isn't good but I have just been accepted for a M&S 0% for 28 month card. Fingers crossed for you!

RuuElisa

Have you asked about an interest free loan from your Universal Credit? I say this because you can bung the whole lot onto the credit card and kill that interest cost. You do not need to tell them why you want the loan (and I recommend you don't), just that you would like to pay some outstanding bills, which is true. You then need to make very very sure you do not build that credit card balance back up.

If it's approved, you pay back the loan over 12 months and it is deducted from your UC payment automatically. Make sure you understand the deduction amount before you go ahead, but I can't imagine it would be more than the interest payment on the credit card.

The UC loan doesn't appear anywhere on a credit file - at least, mine doesn't. So it shouldn't affect any ability to get loans in future.