DMP Mutual Support Thread - Part 12

IANB77 wrote: »

Thank you, i just find it scary. I haven't had my password from SC yet so cant log on to see who has accepted what, only reason i know about BC is because they DM me, got to admit i was surprised at there response. I am not bothered about trashing my Credit score at all, just all the rest that goes with it. SC originally suggested an IVA but if i did that my Job would be gone as well.. Hence why i am worried about them not freezing the interest etc... as an IVA would have done that.
Worst thing is that i just feel like a failure.

Hello and welcome IanB:hello:

You already had some great advice from the likes of Jan15 and CBC and as you progress through your DMP you'll find we all stick together on here - regardless of how we landed

All I wanted to do is to speak to your feelings of failure. You really must to not beat yourself up about the situation. You are where you are and will now - however slowly - work your way back to being debt free and more importantly 'guilt free'.

I started on my DMP almost 5 years ago with a mahoosive debt (as you'll see in my signature). I was mortified to find myself in that situation and whilst fearful of what being in a DMP might bring to my door I was more ashamed than anything. I'm of a reasonable age and had always made good on my debts, in fact I'd been the perfect borrower - so much so lenders fell over themselves to give me money But of course that was the 'trap' - being able to get so much credit so darn easily.

Fast forward to the present and I'm nearing the end of my journey and I now feel more in control of my financial future than I ever have. I do not fear the rattle of the letterbox, nor the call on my phone. I feel empowered through the experience and advice given on this forum and through doing hours and hours of online research about debts and debt management. So my only advice to you is read and then read some more.

Good luck and above all feel proud that you've taken the first step to a new and brighter financial future.

And herewith ends the sermon..... :rotfl:

IANB77 wrote: »

Thank you all for your kind words and support. Brings tears to my eyes... Whatever happens i will do this and like you have never made a late payment or anything before.. perfect history with all my creditors.. I just knew i could do it any longer after Jan and had to take action before it spiraled. It will be a long road to but with support and knowledge i will overcome...

Strange things happen in January :rotfl: I was also the perfect customer for loans and credit cards - always paid on time, always struggled and yet they continued to give me more credit :mad:

However, January rolled around just after Christmas (as it quite often does) and I just knew I had to do something to sort the mess. Hence my username. A great reminder for me of exactly when I decided to address the debt mess I was in

IANB77 wrote: »

Ok so finally i have taken the plunge after building up 34k of debts which was costing me £1300 a month to service and one viscous cycle.. the tipping point for me was Lloyds new excessive OD charge which increased by £140 a month, Child Maintenance going up by £180 a month and a change in my partners circumstance (thanks Carrilion:T).

So there we go i am in my 1st week of SC contacting my suppliers and i got to admit i feel awful, i am a proud man and this has made me feel like a failure to myself and my family . I really am struggling.

So my creditors are

Lloyds OD £4000
Vanquis £3000
Lloyds Loan £9500
L/Woods £3900
Capital one £750
Lume £450
Bamboo £10000
B/Card £4500
P2P £400

B/card have already agreed to my payment amount, frozen my interest and accepted the payment.


Does anybody else have experience with the others and how they will react? Just so worried they won!!!8217;t accept the offer and keep piling on the cost. Feels like I am sitting on a ticking time bomb!!

DF estimate 9 Years!!

Hi from another newbie,I am at the start of my DMP too in fact I’m a bit behind you because I only got the paperwork today so have yet to send it back,Im hoping to do that tomorrow,like you I felt like a failure but coming here and getting support has helped me to see I was wrong to feel that way, we are only human and we all make mistakes its how we deal with those mistake that define us,you and I have both been proactive in sorting things out and I think we should feel proud of ourselves for tackling ours debts head on,Im still a bit of a gibbering wreck at times but slowly and surely I am getting there and you will too,I was also advised to set up a diary on here so I have and im using it as a way to chart my progress have a moan or just generally offload
There is definitely something about January as that was when it all came crashing down for me,its going to be a long road but not a lonely journey, my debt free date is in 8years and 5 months

Am I right in thinking that the account number for my BC credit card will be the same as the card number,I have a letter and it says for the account ending in and it’s the last numbers on my credit card,I’m locked out of my account as I forgot my log in details and tried to log in too many times so I can’t acess it to find out,if not I will have to phone them tomorrow,I need to get this sorted as I want to send the DMP paperwork back to SC tomorrow if I can