lovemoney.com - Q&A - Debt http://www.lovemoney.com Debt questions from Q&A on lovemoney.com en-gb Copyright 2008-2014 lovemoney.com. All rights reserved. http://www.lovemoney.com/Images/Global/HeaderLogoOnWhite.gif lovemoney.com http://www.lovemoney.com 300 50 <![CDATA[I have £7000 debt and trying to work out the best way to sort it]]> I have one debt that a sheriff officer has turned up at my door for hwoever i was not in, and the others are just sending the usual threatening letters. I can not afford to pay them all back in the way they all want individually and my credit rating is too low to get a consolidation loan.

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<![CDATA[First Time Buyer getting mortgage after DMP?]]> evening all, i'm thinking of entering into a Debt management plan to become debt free as quickly as possible as i would like to get myself onto the property market. As of next month i'll be able to get a loan from the Government towards a deposit for a house (and where i want to buy, it's enough for a deposit alone)

Just wondered whether it's worth doing or just paying all my creditors on my own.

Cheers!

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<![CDATA[First Time Buyer getting mortgage after DMP?]]> evening all, i'm thinking of entering into a Debt management plan to become debt free as quickly as possible as i would like to get myself onto the property market. As of next month i'll be able to get a loan from the Government towards a deposit for a house (and where i want to buy, it's enough for a deposit alone)

Just wondered whether it's worth doing or just paying all my creditors on my own.

Cheers!

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<![CDATA[First Time Buyer getting mortgage after DMP?]]> evening all, i'm thinking of entering into a Debt management plan to become debt free as quickly as possible as i would like to get myself onto the property market. As of next month i'll be able to get a loan from the Government towards a deposit for a house (and where i want to buy, it's enough for a deposit alone)

Just wondered whether it's worth doing or just paying all my creditors on my own.

Cheers!

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<![CDATA[CCJ issued 12 years ago - paid in full 3 years ago..?]]> Hi All,

I've ran a search and not quite found the definative answer.

Here is my situation:

I was issued a CCJ in 2005 for a £200 unpaid bill in a flat I no longer lived in.

I only found out about it in 2011 and paid it out in full as it was a small amount.

My questions are:

Will the CCJ still show up on my credit check as it was issued in 2005?

Will this impact my mortgage applications?

Thank you for reading and hope to resolve soon!

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<![CDATA[Does an AOE for C/Tax still have to be registered with the court?]]> <![CDATA[A housemate owes to council - should I be worried about my possessions?]]> I have opened a letter addressed to the occupier - I had the right to, didn`t I.

What I found made me quite shocked: that nice and welcoming young girl owes to the Council on the tax over £600 since May 2011. This was even before I moved in. The Removal Notice says to pay immediately or the bailiffs will come in and take HER possessions, even in her absence.

HOW will they know what is hers when nobody will be at home? We have our stuff in separate rooms, but the things in the kitchen, shed outside and around are mixed. Even my bike is outside locked to the wall mounted holder.

How can I protect my stuff from being taken and then facing the burden of claiming it back? Can they take my PC from a locked room?

I am definitely going to talk to her when I see her next time, but I am worried as she let this be for so long, despite her family is rich and she also is not financially that bad. I guess she must have received a number of notices to pay already, just ignoring them.

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<![CDATA[my son moved back home and a data verificatin service contacted me can they send bailifs and take my belongings]]> lost contact with son in 2010 just found him homeless moved him back living with us found he had a loan debt forced on him from someone else he has learning disabilities and has a data verification service contacting me to see if he lives here what do I do and can they send bailiffs and take my posesions

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<![CDATA[pay off overdraft or credit card first?]]> Hi,

I'm trying to get back on my feet after being in university and now working. I've acquired debt over my time spent in university. An overdraft of £1600 with barclays which i will have to start paying interest on in October and a Capital One Credit card of £2900.

Which do i pay off first?

My credit isn't the best so i cannot get a loan to pay the both debts off. I also cannot get a 0% balance transfer credit card either.

After paying my bills i have about £500 extra cash. Do i pay the credit card off first or the overdraft. Or should i split the £500 and pay both?

The credit card interest at present if roughly about £120 per month. I know if i pay more money into the credit card and get the debt smaller the interest will go down. Should i stick to paying on the credit card and getting that paid off first. Maybe go to barclays and see if they will swap my student account to a graduate account and maybe help me out and freeze the interest or match the overdraft of my student account to the same overdraft limit as a graduate account?

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<![CDATA[pay off overdraft or credit card first?]]> Hi,

I'm trying to get back on my feet after being in university and now working. I've acquired debt over my time spent in university. An overdraft of £1600 with barclays which i will have to start paying interest on in October and a Capital One Credit card of £2900.

Which do i pay off first?

My credit isn't the best so i cannot get a loan to pay the both debts off. I also cannot get a 0% balance transfer credit card either.

After paying my bills i have about £500 extra cash. Do i pay the credit card off first or the overdraft. Or should i split the £500 and pay both?

The credit card interest at present if roughly about £120 per month. I know if i pay more money into the credit card and get the debt smaller the interest will go down. Should i stick to paying on the credit card and getting that paid off first. Maybe go to barclays and see if they will swap my student account to a graduate account and maybe help me out and freeze the interest or match the overdraft of my student account to the same overdraft limit as a graduate account?

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<![CDATA[Where should we use the lump sum that we got?]]> It was very unfortunate that my other half was diagnosed with cancer. We are very grateful that our insurance provider paid us a generous amount when we filed a claim. The amount is £100,000 which is big money but with our huge debts, it seems nothing and we cannot decide how to use it wisely. Here is a rough breakdown of our debts.

109,000 mortgage

40,000 secured loan - this was taken to consolidate previous debts as advised by AWD few years. AWD then abandoned us after that. Haven't heard from them since. Somebody said that they change their name.

15,000 for credit cards and overdrafts

We are in a bad state financially and this is our chance to change our life. We don't want to make any wrong decisions on how to use the money that we received which is why I've to hear you advice.

We are thinking of paying off the entire secured loan. With regards to the remaining amount, we are unsure if to put it all into the mortgage to reduce the term or the monthly payment or pay off the credit cards and overdrafts then use the remaining for the mortgage. We haven't thought of putting some into some kind of savings.

Please help.

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<![CDATA[Can I get 70% written off my debt]]> I have been on a debt management program since 2007 and have reduced my debts from £22000 to 10,000 (unsecured debts).

I have asked the Debt Management Company (they get a fee for the service) to try and arrange 70% off and that I would pay the rest off. They advised that it may not be possible as some companies would only accept between 20-40% off. I have £3500 available. How should I proceed?

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<![CDATA[Can anyone tell me whether going bankrupt as a company director will affect my personal credit score. ]]> Would dissolving the company be a better course of action?

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<![CDATA[Cheque clearance time creeping ever longer?]]> Is it just me, or are cheques taking longer to clear? First of all clearance moved up from Day 4 to Day 5, and now it seems to have moved even further on to Day 6 in some cases.

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<![CDATA[Make 2013 my special year]]> I want to make 2013 the year I pay off a bulk of my £13,000+ debt; and I want your help to do it.

I'm going to be as detailed as possible with my outstanding debt and want to hear your suggestions for solutions. So here goes...(balances are inclusive of payments made in Jan 2013)

(O/S = outstanding; M/P = monthly payment; I/R = interest rate; Op = option available)

Student Loan: O/S - £869.42; M/P = £173 (currently on Direct Debit, Fixed payment)

HSBC overdraft (with Debt Collectors): O/S - £341.10; M/P = £50 (currently on Direct Debit, Fixed payment); Op = settle at 20% of the outstanding balance

NatWest ovedraft (with Debt Collectors): O/S - £5806.44; M/P = £190 (currently on Direct Debit, Fixed payment); Op = settle at £4000 - weirdly, this doesn't show on my credit file. Should I be worried?

M&S Money Credit Card: O/S - 2972.80 (Credit limit = £3,000); M/P = minimum payment (currently on Direct Debit); I/R = 24.9% APR

Barclaycard: O/S - 1767.05 (Credit limit = £4,080); M/P = ranges from £150 - £350 depending on how much cash I need; I/R 24.9%; Op = balance transfer max £1900 for 6 months

Barclays O/D: 1391.53 (less £200 interest-free od = 1191.53); M/P = c. £15 interest; I/R 14.9% on balance over £200 OD.

My total absolute minimum monthly payment is around £550. Realistically, this goes up to a max of £900 from month to month.

Which options should I take/how best to pay this all off as quickly as possible?

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