Personal Finances Articles

A default hurts your credit score, but how long for? That depends on the default date recorded on your credit file. If a the default date is too late, it harms your credit score for longer than necessary. The Key Rule to remember is “A default drops off after 6 years”. This always happens, regardless The post What should the default date be & when will it disappear? appeared first on Debt Camel.

Have you had big overdraft problems for a long period? You can make an affordability complaint and ask for a refund of overdraft charges if: your overdraft limit was set too high at the start or increased to a level you are unable to clear; or your overdraft usage showed you were in long-term financial The post Problem overdraft? How to ask your bank for a refund of interest appeared first on Debt Camel.

There are now two different types of car finance commission complaints, “discretionary commission” and “undisclosed commission”. In January 2024, the FCA allowed car finance firms to “pause” their handling of discretionary commission complaints. Then in October, a major appeal court case covered a completely different reason for asking for a refund of car commission – The post Car finance commission – can you get a refund? appeared first on Debt Camel.

What can you do if a creditor is still adding interest when they have been asked to stop? This can happen if you have a payment arrangement. It also sometimes happens, but much more rarely, in a Debt Management Plan (DMP). Most creditors do freeze interest if you have supplied a reasonable Income & Expenditure The post What to do if a creditor won’t freeze interest appeared first on Debt Camel.

The repayments on many loans and car finance are too high to be manageable so people get deeper into debt trying to repay them. When you applied, a lender should have checked a loan would be affordable for you – often they did not check properly and you should never have been given this loan. The post Affordability refunds from large loans and car finance appeared first on Debt Camel.