it's about time....

scaredy_cat

Hi,

I'm having my LBM after doing the classic ostrich impression for a good few months!! :eek:

I need to get things sorted as i am a part-time student and also i am going to be made redundant as of 14th November, and though i've applied for jobs left, right and center, i don't seem to be gettting anywhere. :mad:

I want to try and deal with a DMP myself as a good friend i confided in had herself dealt with CCCS and acutally had a bad time with them sorting out her DMP.

I was hoping someome could tell me how to start? Is is better to send a letter to the creditors? Has anyone got any templates of inital contact letters to send?

I have always been useless with money and i want to be able to start saving enough for a deposit to get a house after i've finished my studies.

misspoppy

Hi

I don't know what you do for work but there will lots of partime retail work coming up for the christmas period they start recruiting now and I know the post office are recruiting now. I know its not great but it will keep you fed and watered in the short term.

PoorPrincess

Have you looked into getting some bar/glass collecting work?? Loads of bars are looking for people now as it comes up to the busy time of the year.

Princess

x

HHH_2

there are template letters on this site somewhere and on the National debt line site. I have found CCCS to be fantastic and all interest has been stopped mainly because I am with them I suspect. having said that there are people on here who successfully manage their own DMPs.

Quincifer

Hey, as previously said there are loads of jobs coming up now for the christmas period so keep a look out in your high street for signs.

If you would like a bit of help or advie on here about what you can do to save money before you go down the DMP route then just post your SOA up on here and we will be happy to take a look for you!

xxx

scaredy_cat

my soa: me + cat (19yrs old and blind!)
Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1112.5
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1112.5

Monthly Expense Details
Mortgage................................ 250
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 35
Council tax............................. 90
Electricity............................. 58 - am looking into switching suppliers
Gas..................................... 0
Oil..................................... 0
Water rates............................. 36
Telephone (land line)................... 11
Mobile phone............................ 5
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 18
Groceries etc. ......................... 140
Clothing................................ 0
Petrol/diesel........................... 160 - 70mile round trip each day to work
Road tax................................ 12
Car Insurance........................... 16
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 25 - incl. medication and twice yearly checkups
Buildings insurance..................... 0 - incl in Management charge
Contents insurance...................... 10
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 12
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 900

Assets
Cash.................................... 0
House value (Gross)..................... 85000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 88000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 3000.....(250)......6
Total secured debts........... 3000......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................1750......75........0
credit card....................800.......20........0
credit card....................800.......20........0
loan...........................10000.....210.......9
store card.....................2400......110.......0
Total unsecured debts..........15750.....435.......-

Monthly Budget Summary
Total monthly income.................... 1,112.5
Expenses (including secured debts)....... 900
Available for debt repayments........... 212.5
Monthly UNsecured debt repayments....... 435
Surplus(deficit if negative)............ -222.5

Personal Balance Sheet Summary
Total assets (things you own)........... 88,000
Total Secured debt...................... -3,000
Total Unsecured debt.................... -15,750
Net Assets.............................. 69,250

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

I have a Cahoot loan for the car but that actually ends in Nov.

i have missed some payments on the credit cards, the loan, car loan (£155) and store card payments are DD from my account.

scaredy_cat

just spoke to National Debt Line - not so afraid of opening the post now.