In April 2024, Barclaycard has told many customers that it will be setting lower minimum payments on their accounts from July. It isn’t known if this will affect all Barclaycards, or just some. A poll I ran on Instagram today suggested that about two thirds of Barclaycard holders may have been informed of the change […] The post Barclaycard cuts minimum payments – this may cost you a lot appeared first on Debt Camel ..read more

Two readers have reported getting letters from Intrum/Resolvecall about an old Lloyds debt. They are asking if they have to pay these old debts: I had a credit card debt with Lloyds about 10 years ago. I was struggling to pay it at the time…   NowI have had a letter from a company called Intrum […] The post Had a letter from Intrum/Resolvecall about an old Lloyds debt? appeared first on Debt Camel ..read more

A reader asked if he should offer a £1 a month token payment to his debts, wondering if his creditors would ever accept it. The simple answer is that you should make token payment offers: TO non priority debts WHEN it is all you can afford. BUT if you don’t expect your situation will improve […] The post “When can I offer £1 to a debt?” – FAQs about token payments appeared first on Debt Camel ..read more

The administrators of Indigo Michael Limited have announced that all current SafetyNet Credit and Tappliy balances are being written off. And that any affordability complaints have to be made within the next few weeks. My previous article SafetyNet Credit goes into administration gives details about why the lender failed. And also why, unusually, it was […] The post SafetyNet & Tappily loans are written off appeared first on Debt Camel ..read more

Morses Club went into administration in November 2023. Morses Club was the largest doorstep lender in the UK after Provident stopped lending in 2021. See Morses Club goes under for details about why it failed. In March 2024, the administrators have sold or written off all outstanding loans. This article looks at what has happened, what […] The post Morses administration – what is happening to loans appeared first on Debt Camel ..read more

In a Spring Budget that was short on surprises, the Chancellor pulled a large rabbit out of the hat for debt advisers and some of their clients – big changes to the rules for Debt Relief Orders (DROs). DROs are a form of insolvency for people who have little or no spare income to be […] The post DROs – major improvements introduced in 2024 Spring Budget appeared first on Debt Camel ..read more

In January the Insolvency Service published data showing how the volumes of Debt Relief Orders (DROs) done by advice agencies changed in 2023, see Monthly IS statistics Jan-Dec 23, Table 3.2. In February 2023, the two new MaPS-funded DRO hubs began operating. These are run by Citizens Advice and Money Wellness (called Benesse Advice in […] The post The new DRO hubs – what happened in 2023 appeared first on Debt Camel ..read more

On 11 January 2024, the Financial Ombudsman (FOS) published two decisions about discretionary car finance commission – one against Black Horse and one against Barclays Partner Finance. In these cases, people were charged too high an interest rate to increase the commissions dealers got. And FOS ordered a refund. This is a scandal that may […] The post Car finance commission scandal – can you get a refund? appeared first on Debt Camel ..read more

If you have an old debt, you may wonder if you still have to pay it? Can your creditors really take you to court after this long? English law says a creditor only has a limited amount of time – typically six years – to take you to court. The term for a debt that […] The post Statute barred debt – common questions appeared first on Debt Camel ..read more

In November 2023, MSE announced that its Credit Club report would soon switch to cover TransUnion data, not Experian data. MSE has told subscribers: The need-to-know change: Experian is stopping giving us access to its full credit report. So … we’re moving to one of the other three big credit reference agencies, TransUnion. MSE has […] The post Bad news – MSE Credit Club switches from Experian to TransUnion appeared first on Debt Camel ..read more