Finally took the 1st steps to being debt free!!

eggnchips34 · 22 November 2009 at 10:27AM

hello ev1... this is my 1st time posting a thread after months of reading everybody else's!!!! This weekend my husband and i have took our first steps to being debt free (at last) It's gonna be a good few years and we have had to go into a DMP to do it but we've took the bull by the horns and done it.... It's such a big releif and was quite a shock when every thing was put down in black and white!!! I just want to say thank you to all the threads and tips on this site it's been a real help. Heres to the next X amount of years to repaying our debts!!!!:beer:

Tixy · 22 November 2009 at 10:32AM

Hi eggnchips

Welcome on board, good to have you here and good to hear you have been picking up tips.

Hope your DMP helps you a lot and reduces your debt stress - I hope you've chosen an organisation that doesn't charge for doing your DMP?

Have you worked out an estimated debt free date yet?

Good luck on the debt free road.

bazwod · 22 November 2009 at 11:23AM

Good luck eggnchips (great name by the way!!). That's gotta be one of the hardest steps and although it's scary it's also kind of liberating to know how much there is to pay?!

Nice to meet you!!

eggnchips34 · 22 November 2009 at 12:01PM

Thanks guys xxx Tixy.. yes i have gone through CCCS, havn't worked out a date just yet. Can you make over payments on the agreed amount you pay or do you have to stick to what is set up??? Just wondering incase some months we have a bit of extra cash.

pwally2 · 22 November 2009 at 12:34PM

Hiya eggnchips well done for taking the first step. Is a bit daunting a first but as youve seen lots of support and advice on here!! And lots of lovely people!!! As to overpayments on a DMP that is allowed you can either do lump sums or more each per month might be worth making sure you have an emergency fund first as you never know what will happen!!

Good luck hope it all goes well!!!

Tixy · 22 November 2009 at 6:52PM

Hi

On the months you have a bit extra its probably best to put it into a seperate savings account that can double as an emergency fund and savings for possible future settlement offers to your creditors.
If you nearly always have extra you could increase your payments or wait for your next review (usually 6monthly) to up your payments.

momstrimmed · 5 December 2009 at 9:01PM

Egg n chips how it going? Any problems yet with creditors on DMP??

Nargleblast · 5 December 2009 at 9:58PM

Welcome to the asylum eggnchips, good to have you on board. There is a DMP mutual support thread on the forum for people who have DMPs, might be worth you giving that a look in. I bet you feel loads better now you have taken the first steps to becoming debt free!

Finally took the 1st steps to being debt free!!

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