help!

urg123

crapwithcash82 wrote: »

Hi Moneyworry, I'd say the same as bones61, pay off the £1000 on the credit card and then the remaining £9000 on the DMP, they're surely not going to give you a hard time if you're paying off 90% of your DMP - and just think how great it will feel if you only have £1500 left of your DMP!! Keep your chin up and let us all know what you decide and how it goes. Good Luck! xxx

Hi Moneyworry

Just read through the other posts and I agree that it would be great to pay off as much as you can as above.

I'm not sure how DMP works but if you are able to pay off £9000 of £10000 debt they are not going to turn it away! If you continue to pay £180 per month towards the remaining debt you will be debt free in just over 8 months!!!!

URG x

moneyworry_2

thankyou guys.

I have spoken to my mum about it tonight. Her words were "do you think the banks have sleepless nights after robbing people with all their unlawful charges?" No!" Do you think the banks have sleepless nights worrying about all the people that they conned into buying payment protection insurance that was completely worthless! No.... Do you think the banks will offer to pay you back all the additional charges and interest that slapped on when you couldnt use the so called insurance that was supposed to cover you when you were ill? No they wont loose any sleep because all you are is a number lining their greedy grabbing pockets, its people like you they love cos they know they can scare more out of you.

Mums always seem to be able to put a better light on it lol

whitewing

Yes - we mums do try to make things better. Now stop worrying and get some sleep. (Or stay up, but don't worry).

chevalier

I would do the following
pay of the card - that is the easy one

then phone DMP provider and ask about full and final settlement offers to all of your providers. If you have been on a DMP for 5 years then your creditors will jump at the chance to finally close these accounts down. I would expect that £9000 would be more than enough to settle ALL of the debts on the DMP AND leave you some money left over. Often full and final settlement offers can be as low as 50% of the remaining balance. So you would have a nice little bit to start debt free life with.

Also if you have been mis sold PPI etc, then claim it back. There is also no hold on claiming back CREDIT CARD charges, only reclaiming bank charges.

good luck
chev

moneyworry_2

Today I found out I'm being laid off...... Thing's just get worse!

Think i'm gonna have to try and forget about the debts as much as I can now (

TurnaroundSue

I don't know anything about dmp's, but could you pay ALL the £10k to the dmp (which would leave around a £500) balance, pay the minimum on the cc and once your dmp has finished used that money to pay off the card. That way you are not showing favortism (sp?) to any one creditor. Or get your dmp manager to see if your current creditors would accept F&F payments, and see what you have left and pay this towards the card.

Like I say, I don't know anything about dmp's but if this is doable, then maybe this might also be a solution to your problem.

Please try not to get upset, like Martin says there is never anything too bad that it can't be resolved. Good luck and sending lots of hugs:grouphug:

moneyworry_2

thankyou sue.... just seems like there is always something waiting to kick u down when you think your heading on the right path

Jesthar

moneyworry wrote: »

Today I found out I'm being laid off...... Thing's just get worse!

Think i'm gonna have to try and forget about the debts as much as I can now (

Oh, moneyworry - how awful...

But please, please, please don't just try and 'forget' about your debts - it will only make things worse. You have the money to deal with most of them (you NEED to do the credit card, then cut it up!), possibly all of them with some cash left over if your DMP can negotiate good fair and final payments, and you need to try and do that. I know it is very tempting to keep the money for security reasons, but not having debt hanging over you is going to leave you far more secure than having a few k in the bank. Read chevalier's post again, it makes a LOT of sense.

Hang in there - you ARE heading down the right path, you've just hit a nasty bump, that's all.

~Jes