My article on credit card affordability explains when you should make a complaint and has a free template letter to use. Some people have two credit cards from the same lender. Or two catalogue accounts from the same lender. The most common lenders this affects are: Newday - brand names include Aqua, Marbles and Fluid; Capital One - some people have been given two Capital One cards. … [Read more...]
How to get refunds from catalogues and credit cards
Have you had a catalogue, credit card or store card where your credit limit was too high? So high that the monthly repayments were hard to manage and you got into more debt? Many people were originally given an OK limit, but the lender kept increasing them. You may have a good complaint that the lender was irresponsible in allowing you to borrow so much that the debt was … [Read more...]
IVAs and secured loans – how to complain
The IVA protocol, which applies to most new IVAs, says that in the last year of your IVA, if you have a house with equity, you may have to release equity by either remortgaging or getting a secured loan. Some of the proposed secured loans mentioned by Debt Camel readers and on other debt advice forums have been at very high interest rates - 16%, 19% or even 22%. And have been for terms ranging … [Read more...]
What to do if you have problems paying Council Tax
So if you are having problems paying your council tax, you are not alone. This problem has been increasing for many years. Council Tax is the most common priority debt that National Debtline see - 28% of its clients in 2022 had council tax arrears But what can you do if you have arrears? Can you get any council tax discounts or an exemption? Take a few minutes to check you are being … [Read more...]
Has your debt with Hoist been sold to Lowell?
In September 2022, the debt collector Lowell bought Hoist's UK business, with over 2 million defaulted accounts. Most of these debts were loans, credit cards or overdrafts from lenders such as Barclays, Egg, HSBC, Newday and Santander. Lowell is moving over the Hoist accounts to its system. With so many accounts to be transferred, this is being done in batches. When yours is switched … [Read more...]
I have a letter from a debt collector – what can they do?
If you get a letter saying that a debt has been sold to a debt collector you may be very worried. This article answers common questions about what has happened and how it will affect you: will the debt collection agency (DCA) be horrible to deal with? is it legal to do this? do you still have to pay the money? what about your credit record? what if you don't owe the money? I … [Read more...]
What happens after discharge from bankruptcy?
A reader asked: I went bankrupt in 2021 and was discharged a year later. I am not paying an IPA. My question is about savings. Can I save now without any risk of my savings being taken from me? Also my grandmother wants to give me a large sum of money but I’m not sure if it would be safe so the last thing I want is for her to lose money, so I’ve been reluctant to do it. This article looks in … [Read more...]
The debt collector wants to review my monthly payment
Mr A asks: I have had an arrangement with a debt collector for a number of years, paying £10 a month. They have sent a letter asking for a review. Do I have to do this? Can they do anything if I just continue with my current payments? You don't have to give these numbers but... It is a good idea to give revised details Everyone was happy when the arrangement was set up. Mr A was relieved … [Read more...]
My son has been asked to pay a water bill that’s in my name
A reader asked: My son has just opened a letter from a debt collector in his name with my debt and information on it asking him to pay. It's for a water bill which I owe but the bill is in my name! Surely they can't do this? I asked for some background on this - how old is her son, is he still living at home, if not when did he leave? And what date does the water bill relate to? He is 24 and … [Read more...]
Worried about the cost of your mortgage? Find out the help your lender can offer
If you are struggling to pay your mortgage now, or you will be soon when your fix ends, what are your options? Nearly 1.5 million mortgage fixes are ending in 2023. Many people will then face a new interest rate that is more than twice what they had been paying. The FCA says: if you’re struggling to pay your mortgage, or are worried you might, you don’t need to manage alone. Your lender has … [Read more...]
Support for Mortgage Interest (SMI) – should you take this loan?
Support for Mortgage Interest (SMI) helps some people with the cost of their mortgage if they aren't working. Since 2018 this help has been paid as a loan secured on your house, not a benefit, see the gov.uk page on SMI. But this loan is cheap, you don't have to make any repayments to it until the house is sold and it does not show on your credit record, so this is not as bad as it … [Read more...]
DROs – what if my pay increases or I get a lump sum of money?
A Debt Relief Order (DRO) is a simple and cheap alternative to bankruptcy if you are renting and have little money to spare each month to repay debts. A DRO lasts for 12 months and during this time you must inform the Official Receiver (OR): if you receive any money or other assets, or if your income increases. If this happens, the OR may 'revoke' your DRO. That is the legal term … [Read more...]
Amigo to close & Scheme goes into Fallback – implications for customers
August 2023 - the first "UPHOLD" decisions are being received. Comments on this article are now closed. Please see the comments below the main Amigo Claims page to see what is happening. On 23 March 2023 Amigo announced that it has been unable to raise the equity it needed to continue in business. This means that the Scheme of Arrangement currently underway will change into the … [Read more...]
“My DMP payment is too high”
A reader asked if it is OK to reduce your debt management payments when you need to? In 2023, with prices still rising fast, this is a common problem in Debt Management Plans (DMPs). Sometimes your income falls. Often your essential expenses go up faster than your pay does. In debt management, you pay a set amount to the DMP company and they divide it between your creditors. So what happens … [Read more...]
Problem overdraft? How to ask your bank for a refund of interest
Have you had big overdraft problems for a long period? You can make an affordability complaint and ask for a refund of overdraft charges if: your overdraft limit was increased to a level you are unable to clear; or your overdraft usage showed you were in long-term financial distress. For example, being in the overdraft all the time, or using an unauthorised overdraft a lot. This … [Read more...]
- « Previous Page
- 1
- 2
- 3
- 4
- 5
- 6
- …
- 33
- Next Page »