Debt Archives

Getting out of debt

Practical articles about the different debt options, which might work for you and different ways of dealing with creditors

Found out you have a CCJ? What can you do?

There are three ways you may find out you have a County Court Judgement (CCJ): you get a letter from the court; the creditor tells you, asking for payment; or you see it on a credit report - possibly after you have been unexpectedly rejected for credit. A CCJ is a decision by a judge that you ("the defendant") should pay someone ("the claimant") an amount of money. In mid 2022, there … [Read more...]

How to improve your credit rating after a DRO

A Debt Relief Order (DRO) lasts for one year and then your debts in it are wiped out. But it shows on your credit record for six years. This article looks at what should happen to your credit record during the DRO year and after it has finished. Some of your creditors may have go tt this wrong, you need to ask them to correct any problems. You can start to improve your credit rating after … [Read more...]

Debt and mental health problems

Even a "mild" problem with depression, anxiety or other mental health issues can make it harder to manage your money. Reading letters, taking decisions, paying by a deadline and talking to creditors may feel like impossible tasks. One in five people with mental health problems are in problem debt - that's more than three times the rate as people without mental health problems (5%). And half the … [Read more...]

“Must I pay a debt that’s not on my credit report?”

A reader asked if she has to pay a debt that she can't see on her credit record. Many people think that checking their credit record is a good way to get a complete list of their debts. And they look forward to a defaulted debt disappearing after 6 years because then they don't owe the money anymore. These are myths - and although they sometimes are right, they often … [Read more...]

Don’t let credit rating worries make your debts worse

If you have too much debt, you may not want to do anything that will harm your credit score. But do you have any better alternatives? That depends on three factors: what is your credit record like at the moment? If it isn't good, then it isn't worth trying to protect! Check your credit score now, so you have accurate information. can you make the monthly payments to your debts? The … [Read more...]

How the borrower of a guarantor loan can complain

UPDATES: Do not use the templates on this page for the following lenders, instead see the specific page: Amigo has set up a Scheme of Arrangement. The deadline for making a claim has now passed, see Amigo's Scheme for details. Buddy Loans went into administration in September 2021, see Buddy Loans goes into administration. George Banco & Trust Two set up Scheme of Arrangement, the … [Read more...]

How to get a paid CCJ marked as Satisfied

A reader asked: In August 2019 a CCJ was registered against me for £211. I paid off the balance, but not within the month. I have bank statements to prove its been paid. On my credit report it shows the status as “active” even though I have paid it. I’ve contacted the debt collector multiple times but they say as it’s an old case it’s no longer on their system and they can’t help me. I don’t … [Read more...]

When can you get a default removed from your credit record?

"This default is destroying my credit score - how do I get rid of it?" This is a very common question! It's sometimes asked when people's finances have improved and they are trying to clean up old problems on their credit history as fast as possible. Or sometimes the default feels unfair for some reason. I will look at various cases to see what - if anything - can be done for each of … [Read more...]

Court papers for a CCJ – FAQs about the N9A form & how much to offer to pay?

Mrs E asked: I have a catalogue debt of about £2000 from 2014. I was paying through a debt management company until March 2016 when I stopped. They are going to court for a CCJ. I don't know how to fill in the form with my expenses or which debts I should include. Mrs E's questions are about completing the N9A Admission form that was included with the Claim Form she has received. This is the … [Read more...]

If a lender took tax off a refund, reclaim some using the R40 form

If you have received a refund from a lender, you may see that there is an "8%" element included. This applies in many situations, including PPI, affordability refunds and NOSIA refunds. Often the lender will have deducted basic rate tax from this 8% part. Since April 2016 non taxpayers and basic rate taxpayers can probably get some or all of this back from the HMRC. This article looks at … [Read more...]