Main site > MoneySavingExpert.com Forums > Essential Money > Debt-Free Wannabe > DMP & Mutual Support Thread - Part 9 (Page 3)

IMPORTANT! This is MoneySavingExpert's open forum - anyone can post

Please exercise caution & report any spam, illegal, offensive, racist, libellous post to forumteam@moneysavingexpert.com

  • Be nice to all MoneySavers
  • All the best tips go in the MoneySavingExpert weekly email

    Plus all the new guides, deals & loopholes

  • No spam/referral links
or Login with Facebook
DMP & Mutual Support Thread - Part 9
Closed Thread
Views: 233,303
Thread Tools Search this Thread Display Modes
# 41
Growurown
Old 09-02-2013, 6:24 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: May 2011
Location: Numpty Mansions in deepest darkest Monmouthshire
Posts: 3,380
Default

Just wanted to say hello to all the newbies joining our shiny new thread no. 9

When I started out we were still on no. 7

Lots of good advice and support for everyone new to the DMP.

HH I still haven't read that book!
DMP Mutual Support Thread No. 421
Growurown is offline
Report Post
The Following 4 Users Say Thank You to Growurown For This Useful Post: Show me >>
# 42
lizzy23
Old 09-02-2013, 6:42 PM
MoneySaving Convert
 
Join Date: Jun 2012
Posts: 180
Default

Quote:
Originally Posted by dmb View Post
Hi everyone,

Does anyone know what the max allowances are for basic stuff like petrol etc that Stepchange use. I know food is £340 (I think) Are these standard or does it depend on income.

Enjoy the weekend folks
if you speak to them and have a good reason they will amend, i had to do it for pet insurance as i have 5 dogs, and fuel , because i commute a 40 mile round trip and OH is a dog walker and uses his van for work, i think our fuel allowance per month is something like £480 and this is whats used, and my pet out going is £100
LBM 2 and the OH is onboard sept 12, DMP will start on the 1st November, DFD who cares as longs as it comes
1 year down 5 to go and now under 30k and 10% paid off
lizzy23 is offline
Report Post
The Following 2 Users Say Thank You to lizzy23 For This Useful Post: Show me >>
# 43
dmb
Old 09-02-2013, 6:47 PM
MoneySaving Stalwart
 
Join Date: Jul 2009
Posts: 327
Default

Quote:
Originally Posted by Alice in Welfareland View Post
For how many people? All depends on number in the family and not the income.
2 adults. Thanks
dmb is offline
Report Post
The Following 2 Users Say Thank You to dmb For This Useful Post: Show me >>
# 44
dmb
Old 09-02-2013, 6:53 PM
MoneySaving Stalwart
 
Join Date: Jul 2009
Posts: 327
Default

Quote:
Originally Posted by lizzy23 View Post
if you speak to them and have a good reason they will amend, i had to do it for pet insurance as i have 5 dogs, and fuel , because i commute a 40 mile round trip and OH is a dog walker and uses his van for work, i think our fuel allowance per month is something like £480 and this is whats used, and my pet out going is £100
Thanks, I may need to amend as I find current allowance is not quite enough. Never seem to be able to put money away for stuff like car service even though that's supposed to be accounted for in budget. Oh well I can but ask!
dmb is offline
Report Post
The Following 2 Users Say Thank You to dmb For This Useful Post: Show me >>
# 45
moneysaymoneydo
Old 09-02-2013, 9:23 PM
MoneySaving Stalwart
 
Join Date: Jan 2010
Posts: 270
Default

I have a question maybe the experts on here can answer

A friend on DMP all ticking away another friend asks DMP friend to 'keep' some money in their account for him to the tune of £150k, is this possible or are their legal implications? and surely if debtors catch wind can take out the account? my friend with dmp said it is perfectly legal as other friend having mental health issues so they are keeping it safe whilst treatment is sought? just curious and i know they should say no but is this legal?
moneysaymoneydo is offline
Report Post
The Following User Says Thank You to moneysaymoneydo For This Useful Post: Show me >>
# 46
Growurown
Old 09-02-2013, 10:30 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: May 2011
Location: Numpty Mansions in deepest darkest Monmouthshire
Posts: 3,380
Default

Quote:
Originally Posted by moneysaymoneydo View Post
I have a question maybe the experts on here can answer

A friend on DMP all ticking away another friend asks DMP friend to 'keep' some money in their account for him to the tune of £150k, is this possible or are their legal implications? and surely if debtors catch wind can take out the account? my friend with dmp said it is perfectly legal as other friend having mental health issues so they are keeping it safe whilst treatment is sought? just curious and i know they should say no but is this legal?
Can't say whether it is legal or not but it doesn't sound advisable. There are ways of properly looking after the financial interests of people with mental health issues. This sounds more like someone wanting to hide their money.
DMP Mutual Support Thread No. 421
Growurown is offline
Report Post
The Following 3 Users Say Thank You to Growurown For This Useful Post: Show me >>
# 47
Growurown
Old 09-02-2013, 10:49 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: May 2011
Location: Numpty Mansions in deepest darkest Monmouthshire
Posts: 3,380
Default

Quote:
Originally Posted by dmb View Post
Thanks, I may need to amend as I find current allowance is not quite enough. Never seem to be able to put money away for stuff like car service even though that's supposed to be accounted for in budget. Oh well I can but ask!
We found the budget very tight for food and car servicing etc. so we put everything into the budget we could claim for even it we didn't use or need it. I put in the maximum for things like dry cleaning (never bought anything that needs dry cleaning), lunches at work, smoking (never smoked either) and I put all this away for emergencies. We do a lot of miles for work too and claim a fair bit for petrol but that is needed.

I know ultimately this prolongs our debt free date as we aren't putting every spare penny into our debts, but it at least makes our life reasonably stress free. Fortunately most of our creditors have stopped interest so we aren't paying out huge amounts on interest and charges - so we will pay pretty much the same amount whether it takes one year or four years. The Halifax are still charging us for the two bank overdrafts we had and I am now thinking I might try and pay a bit extra into those accounts to bring them down quicker. Our method might not suit everyone but it works well for us. Good luck!
DMP Mutual Support Thread No. 421
Growurown is offline
Report Post
The Following 5 Users Say Thank You to Growurown For This Useful Post: Show me >>
# 48
moneysaymoneydo
Old 09-02-2013, 10:52 PM
MoneySaving Stalwart
 
Join Date: Jan 2010
Posts: 270
Default

Yes i think the same trying to hide the money so can poss claim benefits, they have put mutual friend in a situation, my dmp friend has warned that worse case they would use the money to pay debts, approx £40k, is this allowed just to give someone money to keep for you? and could my dmp friend end up in trouble?
moneysaymoneydo is offline
Report Post
The Following User Says Thank You to moneysaymoneydo For This Useful Post: Show me >>
# 49
Growurown
Old 09-02-2013, 11:24 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: May 2011
Location: Numpty Mansions in deepest darkest Monmouthshire
Posts: 3,380
Default

Quote:
Originally Posted by moneysaymoneydo View Post
Yes i think the same trying to hide the money so can poss claim benefits, they have put mutual friend in a situation, my dmp friend has warned that worse case they would use the money to pay debts, approx £40k, is this allowed just to give someone money to keep for you? and could my dmp friend end up in trouble?
Quite possibly. If this money is being hidden in order to claim benefits then that is illegal. If your DMP friend who is 'looking' after the money knows this then they could be in trouble too by aiding a criminal act. I can't say for sure, I am not a legal expert in any way but I would strongly advise your DMP friend not to get involved. It would look pretty bad from the DMP point of view too and your friend could use this as an excuse to say no to this other person.

Have a look at this too.

http://www.money.co.uk/article/10043...eing-taxed.htm
DMP Mutual Support Thread No. 421

Last edited by Growurown; 09-02-2013 at 11:31 PM.
Growurown is offline
Report Post
The Following 2 Users Say Thank You to Growurown For This Useful Post: Show me >>
# 50
lizzy23
Old 10-02-2013, 6:52 AM
MoneySaving Convert
 
Join Date: Jun 2012
Posts: 180
Default

Quote:
Originally Posted by Growurown View Post
We found the budget very tight for food and car servicing etc. so we put everything into the budget we could claim for even it we didn't use or need it. I put in the maximum for things like dry cleaning (never bought anything that needs dry cleaning), lunches at work, smoking (never smoked either) and I put all this away for emergencies. We do a lot of miles for work too and claim a fair bit for petrol but that is needed.

I know ultimately this prolongs our debt free date as we aren't putting every spare penny into our debts, but it at least makes our life reasonably stress free. Fortunately most of our creditors have stopped interest so we aren't paying out huge amounts on interest and charges - so we will pay pretty much the same amount whether it takes one year or four years. The Halifax are still charging us for the two bank overdrafts we had and I am now thinking I might try and pay a bit extra into those accounts to bring them down quicker. Our method might not suit everyone but it works well for us. Good luck!
This is our method too,, at the end of the day without the DMP we would never have paid it off, yes with it, it may take 7 years but at least we have a relatively normal life, don't get me wrong we do watch the pennies, but we have a relatively normal life
LBM 2 and the OH is onboard sept 12, DMP will start on the 1st November, DFD who cares as longs as it comes
1 year down 5 to go and now under 30k and 10% paid off
lizzy23 is offline
Report Post
The Following 4 Users Say Thank You to lizzy23 For This Useful Post: Show me >>
# 51
bertman
Old 10-02-2013, 8:25 AM
MoneySaving Stalwart
 
Join Date: Jan 2009
Posts: 269
Default

Quote:
Originally Posted by dmp2013 View Post
Ahh our first payment to our creditors went from Stepchange a few wks ago, but Ive just had an invoice from my Next account which shows nothing and has a late fee on it!! I am still stressing over the post as HSBC have not been helpful either- still charging some interest and had a late fee from them too- altho that did show stepchange's payment! Can anyone help?? Anyone had similar experiences? x Thank you x
HSBC have been our worst CC company, it took them nearly 5 months for them to register the fact that we were with SC. A lot of this has to do with an incredible backlog of details from SC and probably others. Just tell them you are on a DMP and put it in writing. They refunded interest to us last week and have now suspended interest.
Debts as of June 2012 - £68,986.35
Now £53,889,46
22% of debts cleared
bertman is offline
Report Post
The Following 5 Users Say Thank You to bertman For This Useful Post: Show me >>
# 52
Hopelessly Hopeful
Old 10-02-2013, 8:51 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Sep 2009
Posts: 3,248
Default

Quote:
Originally Posted by bertman View Post
HSBC have been our worst CC company, it took them nearly 5 months for them to register the fact that we were with SC. A lot of this has to do with an incredible backlog of details from SC and probably others. Just tell them you are on a DMP and put it in writing. They refunded interest to us last week and have now suspended interest.

That's really good news, glad you got it sorted at last

HHx
Started DMP 1st June 2010. Completed DMP 26th August 2014.

DMP mutual support thread # 381, Paddle # 27.

Proud to have dealt with my debt
Hopelessly Hopeful is offline
Report Post
The Following 5 Users Say Thank You to Hopelessly Hopeful For This Useful Post: Show me >>
# 53
jubilee14
Old 10-02-2013, 9:02 AM
MoneySaving Stalwart
 
Join Date: Sep 2012
Posts: 213
Default

good news bertman. am same in that just finally getting it sorted with HBOS not so lucky with the interest being frozen. But still better than it was. Onwards and upwards eh.
LBM Sept 2012
started DMP 1.11.12
Debt £37012/£29237 DFD about July 2019
jubilee14 is offline
Report Post
The Following 5 Users Say Thank You to jubilee14 For This Useful Post: Show me >>
# 54
Time to face the music
Old 10-02-2013, 9:22 AM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Jan 2012
Posts: 4,218
Default

I got lost and you are all here on a new thread, very snazzy indeed. I started right at the very end of part 7

I see that HH has been maligning me while I have been gone, she is the one who belongs on the naughty step

Our fuel allowance was higher than the recommended, because of our commute, at £280 per month so I can't see any problems with StepChange increasing it above their normal allowance if they have a justified reason for it.

The maximum StepChange food/housekeeping allowance for 2 people is £341 per month. This is low compared to the guidance given by NED CAB DMP and National Debtline which I believe are based on trigger figures. We did a lot of reading about this before we moved to self managing our DMP. There is a big difference between the national recommendations and those of StepChange but I am not sure why.

I can see where people are coming from with increasing their allowances to keep a normal life but we want our real life back, the one where we have our money to spend on what we want and not throw it at debts each month. So we keep the pace brisk to go for the fast finish
LBM 10/1/12 ~ DFW Start 5/2/12: £82344 ~ Month 31: £13465=83.65% paid ~ DFD 31/1/16 ASAP
9/11 unsecured debts down, 2 to go ... Next target Marbles
Mortgage free 3rd July 2014 - Grateful thanks to the 2013/4 MFW threads
“Home life ceases to be free and beautiful as soon as it is founded on borrowing and debt” Henrik Ibsen
Proud to be dealing with our debt and making our money our own

Last edited by Time to face the music; 10-02-2013 at 10:53 AM. Reason: Lack of punctuation
Time to face the music is online now
Report Post
The Following 4 Users Say Thank You to Time to face the music For This Useful Post: Show me >>
# 55
dmp2013
Old 10-02-2013, 10:59 AM
MoneySaving Convert
 
Join Date: Jan 2013
Posts: 21
Default

Quote:
Originally Posted by bertman View Post
HSBC have been our worst CC company, it took them nearly 5 months for them to register the fact that we were with SC. A lot of this has to do with an incredible backlog of details from SC and probably others. Just tell them you are on a DMP and put it in writing. They refunded interest to us last week and have now suspended interest.
That's good that you finally have had some success with HSBC then Bertman, as I have been pulling my hair out with them!! I will send more letters, but have sent several 'Stepchange' ones already. Thanks so much for your reply and for giving me some hope with the dreaded HSBC!!!!
DMP started Jan 2013.
Due to end 2018.
Happy to be sorting out our debt
dmp2013 is offline
Report Post
The Following 3 Users Say Thank You to dmp2013 For This Useful Post: Show me >>
# 56
RonniesMummy
Old 10-02-2013, 2:43 PM
MoneySaving Stalwart
 
Join Date: May 2010
Posts: 423
Default

A quick question, what letter do I send to a creditor if I think their charges are unfair, and they aren't treating me fairly?
Do I then go to OFT?
I took a loan out with speed credit (my own fault I agree) but to set a payment plan it has had to be set at £1200, these charges are ridiculous, and I want to try my hand and reducing them somewhat.

Thanks In Advance
x
DFD 1st January 2016
Total Debt £4600 01/01/2013
£4100 15/11/2013
RonniesMummy is offline
Report Post
The Following 3 Users Say Thank You to RonniesMummy For This Useful Post: Show me >>
# 57
Growurown
Old 10-02-2013, 3:18 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: May 2011
Location: Numpty Mansions in deepest darkest Monmouthshire
Posts: 3,380
Default

Quote:
Originally Posted by Time to face the music View Post
I can see where people are coming from with increasing their allowances to keep a normal life but we want our real life back, the one where we have our money to spend on what we want and not throw it at debts each month. So we keep the pace brisk to go for the fast finish
Yup I can see this point of view to tackling debt when on a DMP. I too am keen to be debt free and have all my money to myself. However I have an OH who can't hack being hard up, so I knew when I embarked on our DMP that it would have to suit our way of life or things would be very unpleasant. Luckily our estimated DFD wasn't years and years away so we felt this approach was acceptable. Whatever works for you I guess
DMP Mutual Support Thread No. 421
Growurown is offline
Report Post
The Following 5 Users Say Thank You to Growurown For This Useful Post: Show me >>
# 58
Hopelessly Hopeful
Old 10-02-2013, 3:26 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Sep 2009
Posts: 3,248
Default

Quote:
Originally Posted by Growurown View Post
Yup I can see this point of view to tackling debt when on a DMP. I too am keen to be debt free and have all my money to myself. However I have an OH who can't hack being hard up, so I knew when I embarked on our DMP that it would have to suit our way of life or things would be very unpleasant. Luckily our estimated DFD wasn't years and years away so we felt this approach was acceptable. Whatever works for you I guess

Agreed, all individual choice, no one right way. I was so too tough on myself in the first 14 months, this wasn't sustainable and I then bought into the ' you can't buy back time' saying and took my foot of the pedal a little to get more balance.

Good luck to everyone whichever route is right for you.

HHx
Started DMP 1st June 2010. Completed DMP 26th August 2014.

DMP mutual support thread # 381, Paddle # 27.

Proud to have dealt with my debt
Hopelessly Hopeful is offline
Report Post
The Following 5 Users Say Thank You to Hopelessly Hopeful For This Useful Post: Show me >>
# 59
Hopelessly Hopeful
Old 10-02-2013, 3:30 PM
Fantastically Fervent MoneySaving Super Fan
 
Join Date: Sep 2009
Posts: 3,248
Default

Quote:
Originally Posted by RonniesMummy View Post
A quick question, what letter do I send to a creditor if I think their charges are unfair, and they aren't treating me fairly?
Do I then go to OFT?
I took a loan out with speed credit (my own fault I agree) but to set a payment plan it has had to be set at £1200, these charges are ridiculous, and I want to try my hand and reducing them somewhat.

Thanks In Advance
x

Have you checked out the templates on the national debtline website?

Write to the preditor, if you are not not satisfied with the outcome call the FOS helpline.

Financial Ombudsman consumer helpline

Monday to Friday – 8am to 8pm
Saturday – 9am to 1pm
  • 0800 023 4567
    calls to this number are normally free for people ringing from a "fixed line" phone – but charges may apply if you call from a mobile phone
Good luck

HHx
Started DMP 1st June 2010. Completed DMP 26th August 2014.

DMP mutual support thread # 381, Paddle # 27.

Proud to have dealt with my debt
Hopelessly Hopeful is offline
Report Post
The Following 3 Users Say Thank You to Hopelessly Hopeful For This Useful Post: Show me >>
# 60
katy_ann
Old 10-02-2013, 3:49 PM
MoneySaving Stalwart
 
Join Date: Oct 2011
Location: Dorset
Posts: 673
Default

Afternoon all Quick update from me, Im still fighting with halifax and hsbc for them to reduce/stop the interest on the od/cc. They dont seem to be registering im on a dmp even after 4 months! Grr oh well, some debts are reducing, others increasing, get there in the end!
Proud to be dealing with my debts
Comping since August 2014

Self Managed DMP since February 2013
Total debt as of 18/06/2014 - £3552.42
Aiming to be Debt Free by June 2015

katy_ann is offline
Report Post
The Following 4 Users Say Thank You to katy_ann For This Useful Post: Show me >>
Closed Thread

Bookmarks
 
 




Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

 Forum Jump  

Contact Us - MoneySavingExpert.com - Archive - Privacy Statement - Top

Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

All times are GMT +1. The time now is 10:27 PM.

 Forum Jump  

Free MoneySaving Email

Top deals: Week of 27 August 2014

Get all this & more in MoneySavingExpert's weekly email full of guides, vouchers and Deals

GET THIS FREE WEEKLY EMAIL Full of deals, guides & it's spam free

Latest News & Blogs

Martin's Twitter Feed

profile
  • My point is less the rights and wrongs, more the tragic irony of the juxtaposition between the two.
  • We fail to intervene when 1,400 girls are sexually abused, but do intervene to imprison family trying to get treatment for their sick son.
  • Do you still print out your photos - PLEASE VOTE http://t.co/apAHZuhdIy

Cheap Travel Money

Find the best online rate for holiday cash with MSE's TravelMoneyMax.

Find the best online rate for your holiday cash with MoneySavingExpert's TravelMoneyMax.

TuneChecker Top Albums

  • ED SHEERANX (DELUXE EDITION)
  • VARIOUS ARTISTSNOW THAT'S WHAT I CALL MUSIC! 88
  • SAM SMITHIN THE LONELY HOUR (DELUXE EDITION)

MSE's Twitter Feed

profile
Always remember anyone can post on the MSE forums, so it can be very different from our opinion.
We use Skimlinks and other affiliated links in some of our boards, for some of our users.