DMP - How big was yours?

Mort · 27 July 2014 at 8:59AM

In May 2006@ LBM we owed circa £45k, by November 2011 when we became debt free the total repaid was £54,722.06.
Those five and a bit years were a hard slog but it was necessary.

sourcrates · 27 July 2014 at 12:19PM

TimTheBear wrote: »

Just curious..

When I started my DMP in 2010 it was in excess of 158k.

44k left to pay. With a debt free day of March 2016 :j

I'm not bragging. But I'd thought i'd let people out there know, youre not the only one with their own almost seemingly impossible mountain to climb.

WOW !!! Now that must of been some party chap :beer: !!
I thought my debt was big at 54 grand.
Congrats at getting this far !!:T

toots82 · 27 July 2014 at 1:28PM

Hi,

was 35k debt, paying back £700 a month, £85 to think link/wilson andrews and rest split between many debtors, initially for 5 years, looking at jobs changing and increasing income so hopefully by this time next year can overpay by and additional £700 a month and get rid in 3 years total. Would still have been slowly sinking if hadn't started this in December!

[Deleted User] · 27 July 2014 at 3:20PM

Size isn't everything.

It's what you do with it, that matters.

Oh come on. Someone had to do the obvious joke.

Actually, I never had a DMP, but my debts, at the time of my LBM, were around £15k.

chocky · 30 July 2014 at 6:47AM

monkey1000 wrote: »

Hi guys - just sent off the paperwork for my DMP today - £86K. Think I'm going to have a rocky road for a while. My question to you guys is, 1 of my creditors is Barclaycard - and possibly wrongly I have opened a Barclays cash card account as my new basic bank a/c. Didnt think about the connection - do you think i should change to another bank??

Definitely change banks. If you owe money to Barclays, they can take anything that is in your Barclays bank account so you need a basic bank account with someone who you dont owe money to. When I set up my DMP, I opened a very basic account with the Co-op - no overdraft facility, no extras and it works for me.

Kate_fixing_it · 30 July 2014 at 7:26AM

Bedsit_Bob wrote: »

Size isn't everything.

It's what you do with it, that matters.

Oh come on. Someone had to do the obvious joke.

Actually, I never had a DMP, but my debts, at the time of my LBM, were around £15k.

:rotfl: :rotfl: :rotfl:

Mine stands at around £10.5k now. I've paid over £5k since my LBM.

To some it's a puddle, to me it's an ocean but one I'm proudly swimming across thanks to the water wings provided by Stepchange and MSE.

So in terms of ratio, when repaid I'll have paid over 68% of my annual salary for debt.

I'm in absolute awe of the people who have made it to debt freedom and so glad I have this place to see I'm not alone and I can and will get through this.

Kate x

hardikjshah83 · 30 July 2014 at 9:34AM

at its highest peak of our joint debt in April'14 was £22.5k, as of now its only £16k, hopefully will be clearing it in 3 years time while also buying our 1st house

parsniphead · 30 July 2014 at 1:42PM

I started mine in April 2007 with £35000. It's now standing at £2064 and WILL be gone by January 2015.

mrshughes86 · 30 July 2014 at 4:16PM

Mine and my husbands DMP was for £61k when we started in October 2010, we were paying back £600 a month and it felt like it would never end. Now we are up to paying off over £1500 a month and only have £8200 left to go!
The end is in sight!

antonic · 30 July 2014 at 5:15PM

£24k when I made my first payment to Payplan in Dec 2005.

90 months later I was DF, and I have been OFFICIALLY DF for 12 months now

DMP - How big was yours?

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