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  • FIRST POST
    • Puzzcat
    • By Puzzcat 17th Sep 13, 9:49 AM
    • 3,053Posts
    • 16,065Thanks
    Puzzcat
    Puzz tries again.. this time with claws... My DMP Journey. I will get debt free...
    • #1
    • 17th Sep 13, 9:49 AM
    Puzz tries again.. this time with claws... My DMP Journey. I will get debt free... 17th Sep 13 at 9:49 AM
    Hi,

    I'm Puzz, and I've been hanging around these dfw threads and diaries for a long time now... I've tried many times to sort out the money mess I have made but have now hopefully settled on a path that will lead me to where I wish to be...

    What I don't know is how I didnt' know about DMP's before, as I say I've been here for at least 5 years if not longer and only discovered them in my darkest place back in July.

    So this diary is to track my progress, keep me in check and maybe offer someone else some assistance along my way!

    I have been in debt my entire adult existance. I am now the wrong side of 40 and still in debt. I wouldn't say I've had my head in the sand as I can tell you exactly how much I owe and to who at any given time. I have this all written in my special money book that goes back to 2008..

    The debt has increased year on year, but slowly over the last 3 until this summer when it all caught up with me again and I realised that I had to do something now. I have tried snowballing but never had enough snow to throw the ball far enough away! And don't talk to me about consolidating.....

    Stumbling across the dmp mutual support thread, I then researched debt management plans and went onto StepChange website did the debt remedy.. and there was my answer. I have read threads 7,8 and 9 of the dmp support thread, it is a wonderful place and if you are thinking of a dmp it is a great place to start.

    My debt is huge and is going to get bigger before it gets smaller which is perfectly normal at the start of a dmp. I'm still at the sending letters and token payments stage, my new bank account is up and running and my salary switch is at the end of the month. It is at this point when my largest creditor (od/loan and cc) will be receiving the news that I don't want to do this anymore.

    I spent the money I don't deny that. I have every intention of paying it back. BUT... I have paid out a fortune in interest and I no longer feel guilty that I can't do it anymore. I will be working very hard to get my creditors to play nice with me, and am more than prepared to sharpen my claws and involve the FOS when needed.

    So that's the start.. I know a dmp isn't for everyone, I know it will trash my credit record, but I don't want credit anymore. I want to live again..

    I think that's enough waffle for one morning, and being a cat its probably time I stretched out and had a little kip... oops no I've got work to do.... maybe later...





    Christmas 2017 £300 cash/£80 vouchers
    I love my dmp started in Nov 13 with SC 33% paid
    Going Self Managed March 2016
    Pot Of Gold - £405.00
    MY DIARY -
    http://forums.moneysavingexpert.com/showthread.php?t=4768685
Page 67
    • Puzzcat
    • By Puzzcat 13th Jun 17, 12:29 PM
    • 3,053 Posts
    • 16,065 Thanks
    Puzzcat
    Good Afternoon...

    Well I would like to say I have been busy, but not really...!

    Cleared out dd's room at uni and managed to sort it all except a large suitcase of clothes.. job for tomorrow..

    Nice night out with the girls friday.. pizza and wine...

    Just plodding along really...have the rest of this week off so home day tomorrow sorting dd's clothes and room....

    Thursday we are heading out by train to shop and eat for the day...

    Friday not sure yet, nothing expensive as I don't have many pennies...

    Nothing exciting happening on the money front.. still saving, debt slowly going down but only reduces by £120 ish a month so a very slow process... Lovely dad loan going down quicker only the £3400 to go now....still love my little car...

    Paid £1175 to letting agency for dd's house next term.. at least the references must have been okay as they never came back to me..

    Work.. blur... need I say more..

    Still not started dieting or exercising, I appear to have become a very lazy puzz.. hoping I will spur myself into action..

    OH off on holiday tomorrow.. early hours.. so a man free house bar the boy cat until Sunday.. and no work for me either..

    That's about it folks...

    Love Puzz. x
    Christmas 2017 £300 cash/£80 vouchers
    I love my dmp started in Nov 13 with SC 33% paid
    Going Self Managed March 2016
    Pot Of Gold - £405.00
    MY DIARY -
    http://forums.moneysavingexpert.com/showthread.php?t=4768685
    • Billy12345
    • By Billy12345 14th Jun 17, 10:07 AM
    • 49 Posts
    • 74 Thanks
    Billy12345
    Hi Puzz

    I've been reading though your journey and its really inspiring. I am in a DMP too and liking where I am at the minute.

    I was looking through when you went self managed, I am currently with SC but I held one credit card back as I was going on holiday. Long story short this card wasn't used but was needed to "swipe" for a car hire which was already paid for but a credit card was required.

    Anywhoo, holiday been and gone and looking to self manage this one creditor. I have filled in the NEDCAB I&E which details all creditors but was wondering did you tell your creditors about how much you were offering to pay the other creditors or not ?

    I am too nervous to self manage all of my creditors yet but this day may come...

    Obviously adding this additional debt changes the amounts paid but I don't want to rock the boat with SC so thought I'd let that run and do the other creditor self managed.

    My worry is that if I send the I&E statement with details of the other debts the creditors will share this information and see that the sums being paid are different.

    Any advice
    LBM August 2016 = £58k

    Sainsburys loan Default Tesco CC Default Barclaycard CC Default Santander OD Default Santander Loan Default
    Santander CC not yet Ratesetter loan not yet Capital One not yet
    • Puzzcat
    • By Puzzcat 16th Jun 17, 9:30 AM
    • 3,053 Posts
    • 16,065 Thanks
    Puzzcat
    Hi Puzz

    I've been reading though your journey and its really inspiring. I am in a DMP too and liking where I am at the minute.

    I was looking through when you went self managed, I am currently with SC but I held one credit card back as I was going on holiday. Long story short this card wasn't used but was needed to "swipe" for a car hire which was already paid for but a credit card was required.

    Anywhoo, holiday been and gone and looking to self manage this one creditor. I have filled in the NEDCAB I&E which details all creditors but was wondering did you tell your creditors about how much you were offering to pay the other creditors or not ?

    I am too nervous to self manage all of my creditors yet but this day may come...

    Obviously adding this additional debt changes the amounts paid but I don't want to rock the boat with SC so thought I'd let that run and do the other creditor self managed.

    My worry is that if I send the I&E statement with details of the other debts the creditors will share this information and see that the sums being paid are different.

    Any advice
    Originally posted by Billy12345
    Hi Billy,

    When I left SC and went self managed I did the set up through nedcab so would have sent details of who i was paying and how much at the start.. I then dropped all to token payments due to circumstances and since then only 3 have requested an update and I just sent a letter stating how much I would pay them, none of them have quibbled.. I ignore any creditor i & e's and they don't seem to worry.. I updated one by phone and told them I couldn't afford more than my £5 and they weren't bothered.

    So your choices are to either make a direct offer of payment to the creditor without including other creditor details and see what they say, or send a 'revised' i & e showing all creditors are getting an equal proportion. Or pass it to SC to deal with.. I know others who have added on a debt later..... and really self managing is the best and easiest way to go when your ready.

    Good Luck
    Puzz. x
    Christmas 2017 £300 cash/£80 vouchers
    I love my dmp started in Nov 13 with SC 33% paid
    Going Self Managed March 2016
    Pot Of Gold - £405.00
    MY DIARY -
    http://forums.moneysavingexpert.com/showthread.php?t=4768685
    • Billy12345
    • By Billy12345 16th Jun 17, 1:27 PM
    • 49 Posts
    • 74 Thanks
    Billy12345
    Hi Billy,

    When I left SC and went self managed I did the set up through nedcab so would have sent details of who i was paying and how much at the start.. I then dropped all to token payments due to circumstances and since then only 3 have requested an update and I just sent a letter stating how much I would pay them, none of them have quibbled.. I ignore any creditor i & e's and they don't seem to worry.. I updated one by phone and told them I couldn't afford more than my £5 and they weren't bothered.

    So your choices are to either make a direct offer of payment to the creditor without including other creditor details and see what they say, or send a 'revised' i & e showing all creditors are getting an equal proportion. Or pass it to SC to deal with.. I know others who have added on a debt later..... and really self managing is the best and easiest way to go when your ready.

    Good Luck
    Puzz. x
    Originally posted by Puzzcat
    Thanks Puzz,

    I think the 'revised' i&e statement will be the best way to go for me. I was worried about the creditors all speaking to each other and noting that the statement slightly differs taking into account the new creditor but thats all I have to pay anyway they cant get what I dont have.

    Billy x
    LBM August 2016 = £58k

    Sainsburys loan Default Tesco CC Default Barclaycard CC Default Santander OD Default Santander Loan Default
    Santander CC not yet Ratesetter loan not yet Capital One not yet
    • Puzzcat
    • By Puzzcat 25th Jun 17, 12:34 PM
    • 3,053 Posts
    • 16,065 Thanks
    Puzzcat
    Been a bit quiet over here in puzzland...

    Nothing very exciting to report.... stuck at home waiting for a new fridge to be delivered, our one in the kitchen died on friday evening. although it was here when we moved in 14 years ago and has been on its last legs for the last few years... luckily I have 2 fridges but I am missing having one in the kitchen... OH paid..

    Short week at work only 3 days for me this week..

    No news back on my cca yet... or my complaint to the ICO.

    Still got some pennies in the bank and payday Thursday...

    Otherwise just plodding on....

    Puzz. x
    Christmas 2017 £300 cash/£80 vouchers
    I love my dmp started in Nov 13 with SC 33% paid
    Going Self Managed March 2016
    Pot Of Gold - £405.00
    MY DIARY -
    http://forums.moneysavingexpert.com/showthread.php?t=4768685
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