A reader asked: I’ve just received a backdated Severe Disability Premium (ESA top up as on PIP too) and I am aiming to go bankrupt in May or June. I’ve been advised by a money advisor to use this money for essentials as I have just been given permanent accommodation having been homeless. No furniture came with the flat. I’ve been paying £1 a month to my creditors since last year. Should I … [Read more...]
Readers have asked a huge variety of questions in the comments below Debt Camel articles. From credit ratings and mortgages to payday loan refunds and IVAs...
Some of them needed such long replies that I have turned them into the articles that are gathered here.
A reader asked: In August 2011 a CCJ was registered against me by Lowell P1 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 Lowell 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 … [Read more...]
A reader asked: I went bankrupt in October 2015 and discharged 1 year after. My question is about savings. Can I save now without any risk of my savings being taken from me? Also my grandmother wants to put a large sum of money in my name 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 detail at what … [Read more...]
A reader asked: My partner and I have a combined income of £54,000, We have a deposit of £20,000 (inheritance) and are looking to become first time buyers in a new build property at a price of £210,000. We have defaulted debts that are being paid off, and previous history of payday loans from over 2 years ago from a time when our financial situation was much more difficult. The defaults are … [Read more...]
A reader asked: My sister has offered me £2,000 as she knows I have money problems. I have been in a Debt Management Plan for three years. It is a good idea to use this gift to offer a Full and Final settlement (F&F) on some of the DMP debts? F&Fs are explained in detail here. The simple answer is that this is almost always a good idea! In a F&F that 2k could potentially be … [Read more...]