Advice on a DMP

Sarah777111

Just logged onto this website for the first time today and it is so heartwarming to find others in the same position as I am. I have debts of £54k (all cc and unsecured loans) and am finally in the position where I simply cannot afford to live anymore. Everything is going up in price and thngs like spending £45 a week on petrol to get to work have tipped me over the edge. Can anyone give me a few points of advice...

I have a joint account with my partner for household bills etc. (balance is curently £20) will my debt problems affect his credit rating as he has NO idea of my situation.

Before I enter a DMP (which is my suggested solution per the CCCS) should I open a basic account away from my creditors so my salary can paid into this account ? I have a Natwest credit card so am concerned they will take all my salary to pay some of the balance off.

My debts are with Benefical / Egg / GM Card / Natwest and Marbles - has anyone any experience as to how they treat people on a DMP ?

I have about £750 in 'disposable' income after rent, council tax food so the amount I am going to offer my creditors is much more than a nominal £1 payment per month

I am trying to spend today getting sorted - I can't take anymore sleepless nights

~Beanie~

I would definately open a basic bank account with someone unconnected with your debts and get your salary transferred over ASAP.

If you have any joint accounts then your situation will affect your husband unfortunately, I know it is hard but you really should try and tell him about the situation. It must be so difficult trying to deal with it on your own, he may be more suppoprtive than you imagine.

Good luck x

GeorgeUK

I would suggest opening a bank account, but depending on the minimum payments, there may still be a "dodge" you can take advantage of. Post up a statement of affairs (SOA) and we'll see if there is anything in your expenditure that you can save on. If you can almost meet the minimum payments you may be able to get a 0% creditcard.

https://www.makesenseofcards.com/soacalc.html