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DMP???? Unsure......
elfieb
Posts: 530 Forumite
Hi everyone,
First time poster so please be gentle!!!
Im around £10000 in debt due to various reasons, across 3 credit cards.
I have managed to get all 3 cards on a 0% balence transfer until next year. Sounds ok to me, but unfortunately I lost my job before Christmas. I have been managing to make the minimum payments each month thus far, but having a look at my bank balance today the pot is appearing to be a little dry!!!
Im now worried that if my employment opportunites dont buck up soon (been applying for anything and everything), I wont have enough to live on and make the minimum payments.
Would a DMP be the best option for me?
Hi all,
Im in around 10k worth of debt, give or take a few pence, across 4 credit cards.
I was made redundant at the end of last year, and have been making minimum payments on these cards thus far using savings, however the pot is all but dry.
After doing an SOA, I have £49 a month spare in which to repay my debts.
I did the debt remedy plan on the CCCS website, and they advised 2 options, bankruptcy or "short term DMP".
My question is now, what is my best option??? I know Debt Relief Orders are hopefully to come into force in April. Through doing my own research, I think I meet the criteria. So would I be best hanging on till April, and doing a DRO?
Also does anyone know what implications DRO would have on other people living in the same house? I still live at home with my parents, and they are unaware of my debt problems, and would prefer it to stay that way!
I lost my job back in December, and since then I have been struggling to pay off my debts.
After reading the website, I attempted the credit card shuffle in a vain attempt to get my debts under control.
Unfortunately due to my own stupidity, I lied on the application stating that I was still in full time employment when obviously Im not.
My debts are now so out of control, Im seriously considering a DRO.
Will the fact that I lied on my application be held against me and make getting the order impossible?
Before everyone goes on about it being fraud, I know it is, and know it was wrong, but it was a case of robbing Peter to pay Paul.
First time poster so please be gentle!!!
Im around £10000 in debt due to various reasons, across 3 credit cards.
I have managed to get all 3 cards on a 0% balence transfer until next year. Sounds ok to me, but unfortunately I lost my job before Christmas. I have been managing to make the minimum payments each month thus far, but having a look at my bank balance today the pot is appearing to be a little dry!!!
Im now worried that if my employment opportunites dont buck up soon (been applying for anything and everything), I wont have enough to live on and make the minimum payments.
Would a DMP be the best option for me?
Hi all,
Im in around 10k worth of debt, give or take a few pence, across 4 credit cards.
I was made redundant at the end of last year, and have been making minimum payments on these cards thus far using savings, however the pot is all but dry.
After doing an SOA, I have £49 a month spare in which to repay my debts.
I did the debt remedy plan on the CCCS website, and they advised 2 options, bankruptcy or "short term DMP".
My question is now, what is my best option??? I know Debt Relief Orders are hopefully to come into force in April. Through doing my own research, I think I meet the criteria. So would I be best hanging on till April, and doing a DRO?
Also does anyone know what implications DRO would have on other people living in the same house? I still live at home with my parents, and they are unaware of my debt problems, and would prefer it to stay that way!
I lost my job back in December, and since then I have been struggling to pay off my debts.
After reading the website, I attempted the credit card shuffle in a vain attempt to get my debts under control.
Unfortunately due to my own stupidity, I lied on the application stating that I was still in full time employment when obviously Im not.
My debts are now so out of control, Im seriously considering a DRO.
Will the fact that I lied on my application be held against me and make getting the order impossible?
Before everyone goes on about it being fraud, I know it is, and know it was wrong, but it was a case of robbing Peter to pay Paul.
I used to be Snow White, but I drifted.
Mae West
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Comments
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You can only work this out with an SOA.
Try doing one here on on www.cccs.co.uk and taking it from there."One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
Look forward to seeing your SOA.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
But why haven't you replied to the help others gave you on your DRO thread earlier ...
Well I am not sure why you wish to make that so public ... Who is this debt with BTW?Will the fact that I lied on my application be held against me and make getting the order impossible?
I note you've not even replied to the other three threads you asked for help on, either. Incidentally, I've never done what you are posting about here so ... can't help. Sorry.Any help, opinions, views I may hold those are my own. Respect them as you would expect the same in return. Offered freely, is gleaned from a lifetime of experiences, knowledge gaining. Passed on to benefit others. I may be direct, ask you questions but those are to help you. Up to you if you choose to take it. I won't judge you either way.
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The debts are across 4 credit cards, Egg, RBS, Capital One and Barclaycard.I used to be Snow White, but I drifted.Mae West
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Please don't say you've done this on every application??
http://forums.moneysavingexpert.com/showthread.html?t=1567341
http://forums.moneysavingexpert.com/showthread.html?t=1562563
Well, see ... you've put all these threads, people gave you advice, asked for more details but you've not replied. All of a sudden you are saying you've broken the law. What to think, really.Any help, opinions, views I may hold those are my own. Respect them as you would expect the same in return. Offered freely, is gleaned from a lifetime of experiences, knowledge gaining. Passed on to benefit others. I may be direct, ask you questions but those are to help you. Up to you if you choose to take it. I won't judge you either way.
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On 2 of the applications yesI used to be Snow White, but I drifted.Mae West
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Then I think, apart from posting it on this forum ... Not sure why you did, again, TBH. But no idea what you'd need to do now because I've never done this sort of thing, so guess that means you may need some more specialist help. All can say, really.
Where you say '2 applications' which would those be? With card for example? No difference to me but just curious.Any help, opinions, views I may hold those are my own. Respect them as you would expect the same in return. Offered freely, is gleaned from a lifetime of experiences, knowledge gaining. Passed on to benefit others. I may be direct, ask you questions but those are to help you. Up to you if you choose to take it. I won't judge you either way.
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Im sorry if I seemed to have offended you in some way. I really do not know which way to turn at the moment.
I have tried ringing CCCS and cant get though, I have emailed them and I am waiting for a replyI used to be Snow White, but I drifted.Mae West
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Erm, who said you'd offended me? Not one bit. I was just saying you'd asked for help but no one had any feedback. Not offended, but sometimes it helps people to help you with that feedback. In order to assist further.I have tried ringing CCCS and cant get though, I have emailed them and I am waiting for a reply
Well, I don't know about that. They wouldn't be able to help you with what you've said you did anyway.Any help, opinions, views I may hold those are my own. Respect them as you would expect the same in return. Offered freely, is gleaned from a lifetime of experiences, knowledge gaining. Passed on to benefit others. I may be direct, ask you questions but those are to help you. Up to you if you choose to take it. I won't judge you either way.
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I have merged these two threads, same OP and similar question so it makes sense to have it all in one thread.0
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