If you were given credit that you could never realistically afford to repay, you may be able to make what’s called an affordability complaint. This type of complaint argues that the lender failed to carry out proper checks before approving the credit. If the complaint is upheld, the lender may have to: Refund interest and…
In 2014 I took out a hire purchase agreement to buy a car. At the time, I believed the lender had checked everything properly and that the finance had been approved responsibly. Years later, after struggling with the repayments and eventually returning the vehicle, I complained that the lending had been unaffordable from the beginning….
Debt can creep up slowly. A missed payment here, a credit card balance there, and before you realise it, your credit file starts filling up with red markers that lenders politely call defaults. Over the past few years, that’s exactly what happened to me. At one point, my credit file ended up with six defaults…
Managing your own debt management plan versus paying someone else to do it is one of those choices that looks simple on the surface and then becomes a maze of spreadsheets, phone calls, and mild existential dread once you actually start. Still, thousands of people in the UK deal with this every year, and there…
If you have struggled with debt in the past, the idea of applying for another credit card might seem like the worst financial decision imaginable. For many people in the UK who are managing or recovering from debt, rebuilding their credit file eventually becomes an important goal. After missed payments, defaults, or financial difficulties, your…
As alluded to in my about page, my debt problems returned last year and is the whole reason this site exists again. It has been over a month since I last posted on the blog so I thought it was time to update you on how I am managing my debts. It has been nearly…