update on position and further advice needed please?

rubydoiwannabee

Hi everyone, well here we are one week on... and I seem to be in limbo!!
I have the paperwork to change the mortgage over, the emails with the new life assurance quotes, application for 0% credit card and haven't done a thing with them!! I have been trying hard to chill out (so that OH and I don't fall out about my nagging) and it has made me completely inactive. Have had a mad week at work though. I think I am going to write a to-do list and tick one off a day.

What I have done today though is taken the plunge and cancelled ALL our DDM's and SO's ready to set them up from a new account without an overdraft limit. It is a pain but I think it will motivate us more to see an account in credit instead of debit. According to my many spreadsheets we should be able to get by each month, pay all min payments, budget for cars, xmas, clothes, prescriptions etc and still stay in CR. But we need to start from a positive stand point and not.. from being OD even when the salaries have gone in. The problem we have is that I get paid monthly and OH weekly so SO's and DDM's are spread out throughout the month. It is a real leap of faith and whilst considering a DMP it was the thing that was most appealling, e.g. seeing a positive balance!!

rubydoiwannabee

rubydoiwannabee wrote: »

Hi everyone, well here we are one week on... and I seem to be in limbo!!
I have the paperwork to change the mortgage over, the emails with the new life assurance quotes, application for 0% credit card and haven't done a thing with them!! I have been trying hard to chill out (so that OH and I don't fall out about my nagging) and it has made me completely inactive. Have had a mad week at work though. I think I am going to write a to-do list and tick one off a day.

What I have done today though is taken the plunge and cancelled ALL our DDM's and SO's ready to set them up from a new account without an overdraft limit. It is a pain but I think it will motivate us more to see an account in credit instead of debit. According to my many spreadsheets we should be able to get by each month, pay all min payments, budget for cars, xmas, clothes, prescriptions etc and still stay in CR. But we need to start from a positive stand point and not.. from being OD even when the salaries have gone in. The problem we have is that I get paid monthly and OH weekly so SO's and DDM's are spread out throughout the month. It is a real leap of faith and whilst considering a DMP it was the thing that was most appealling, e.g. seeing a positive balance!!

OOps I pressed enter by mistake!!

I am fully expecting my bank to go mad, when the see the OD sitting there and no further activity on the account. I will be setting up a monthly direct debit to start making headway into this debt, but only for £50pm and the OD is £4900!!!! Does anyone have any experience of such a situation? As far as I am aware the account doesn't have a limit etc. about paying in a min amount each month, although it is a FD account and they renamed all there accounts earlier this year, so it might have.... will check that.

If anyone has any similar experiences and wants to give advice, feel free.

Thanks guys and gals
xxxx

:rolleyes:

rubydoiwannabee

bump!!!
I know it's all about me....

hypno06

Sorry! I have no experience of this sort of thing so cannot give much in the way of advice.

The boards are really quiet tonight, so maybe you will need to bump up again in the morning!

sam89

Hi Ruby,

Our bank pre DMP was First Direct and we had overdraft, loan and credit card with them. The total was almost £21,000. They combined all of these into one account and reduced our interest to 6% pa.

I was expecting them to be horrible about the amount of money we owed but everyone I spoke to there was very understanding, one lady was so kind she made me cry .

I didn't speak to them until after everything was transferred to the new bank and I think that's wise because they could freeze your account. But if you have all that organised, especially wages, then phone them and hopefully you'll be as pleasantly surprised as I was.

Sam,
x.

rubydoiwannabee

sam89 wrote: »

Hi Ruby,

Our bank pre DMP was First Direct and we had overdraft, loan and credit card with them. The total was almost £21,000. They combined all of these into one account and reduced our interest to 6% pa.

I was expecting them to be horrible about the amount of money we owed but everyone I spoke to there was very understanding, one lady was so kind she made me cry .

I didn't speak to them until after everything was transferred to the new bank and I think that's wise because they could freeze your account. But if you have all that organised, especially wages, then phone them and hopefully you'll be as pleasantly surprised as I was.

Sam,
x.

Hello Sam
Thank you very much for your reply, that does fill me with hope!! Our total debt with them is about £11,500 on a cc and od. We can afford to pay the current min payment (which in a few months will start being over the min payment) on the cc and £50 to decreasing the od for the time being. I feel it is time to leave the debit balance behind and hope that by living within a CR balance will lift our spirits albeit that the other debt is somewhere else.

We have been customers with FD for about 16 years and although I realise we are only a number to them, I hope this may help them to help us. It would be great if they would consider a similar set up to yours.

Thanks again.