Advise re dmp please

kken

I have completed the forms online for the cccs debt management plan and after a lot of jigging with the figures it said we had £200 per month to service our debts and suggested a low start dmp. Is there a difference between this and any other type of dmp. Also, it looks like it will mean our 16 (eek!) creditors will only get about a quarter of the payment they would normally get. Have any of the rest of you just been paying a quarter. One thing i did notice on the expenditure sheet was that it wouldnt let me put down a figure i wanted to for groceries etc saying it was too low. They put £300 a month for food but i dont think i need this much really. The expected dfd was just over 14 years away which seems like a lifetime and i have noticed on another thread people managing to substantially reduce this - How?
I must admit i do feel a lot better taking even the first steps but i am worried some creditors will refuse dmp amount and file for bankruptcy instead. Have any of you been on a dmp for this kind of amount with large initial debt (mine is approx £34,000)
Sorry, lots of questions and probably too nosey but need advice.
Thanks
Karen

Numpty_Monkey

Hi Karen
don't worry about being nosey, just about everyone on here is:rotfl:

The thing about the DFD date is it is a starting point, in a few months you might be able to pay more to your debts and the DFD date comes down,
I really wouldn't worry about anyone trying (more like threatening) to make you bancrupt

The figures on the CCCS are guidelines they use, when you have your phone interveiw with them they will go through it and make sure you are budgeting for everything, so don't do what i have been doing for the last few days and panicking about CCCS they are on your side they are there to help you:A

If you have any questions on here there is no such thing as a silly question


HTH

kev1980_2

Hi Karen,

Welcome to MSE!!

Just a quick question, where in the UK are you? If your in Scotland you might want to take a look at the DAS Debt Arrangement Scheme.

Only available in Scotland and has the full backing of the law and guarantees to stop all legal action from creditors and also guarantees to stop interest.

Miss_Piggy_2

Hi Karen and welcome to the site!

Don't worry about asking questions -the people on here have been in the same position as you and yes, it IS scary. But trust me, it gets easier.

As previous posters have said the CCCS suggest workable figures for things like groceries. They don't want you to starve yourself in order to pay debts.

As for your payments, you can increase them if you get some extra money. Also, if you make any extra via ebay, car boots etc then you can make extra payments.

So don't panic. Everything will work out.

Miss P

xx

Kudox

Hi Karen dont worry about looking daft, theres always an answer on here.
I rejigged my budget after filling in the online thing basically CCCS want to know you are going to be able to manage and not be struggling more than you were.
i've only just started mine and as yet only 2 of my many creditors have accepted, but I'm just going to carry on paying through the CCCS and they can like or lump it.
By the way my debt level is about the same as yours, and its just a big relief to me to be finally dealing with it.

Deep_In_Debt

Hi Karen and welcome
As others have said, the DFD date is just a guideline. When I started my dmp with CCCS was originally suggested that it would take me 9 years to clear my debts. I've managed to reduce that to 6 years since January and working on it further since I am due to be mortgage free in 5 years. It can be done.

When you first start your dmp, you will get a bit of hassle - just refuse to answer the security questions, give them your CCCS ref number and hang up. 10 months in, I still get a bit of hassle from one creditor but I can handle them, other than that, it's been great. I live on half the groceries budget given to me and "squirrel" away the rest so I can either make F&F settlement offers or save the extra dosh for emergencies.

Good luck with it all and don't feel daft. We're all here to help.