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 don’t … [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: "We went to see a mortgage adviser to check if we qualify for a mortgage. We are first time buyers, me and my husband have 4 credit cards each and loans. Because we have a lot of debt, he advised us to go to our respective banks for debt consolidation by taking up a loan each to make one payment on all our debts. He said that was the best option for now. Also in that way we … [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 what a realistic monthly payment would be in a Debt Management Plan (DMP) covering £10,000 of debts. I think she was hoping for a simple answer... but there are three different aspects to consider and to be truly realistic a DMP has to tick all three boxes. If you would like an intro to debt management, read What is a DMP? Then, for more details, see my guide: DMPs - answering … [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...]