2 Year DMP Veteran Returns ...

mm1976

Hi all,

I will have been on a DMP for 2 years this January.

I have found it a lot less stressful than I first thought. By that I mean I was nervous and worried (sleepless nights etc) about it before I started, but thanks to help from this forum and CCCS it has been a lot easier than I had imagined.

My SOA is around £1,100 a month and my DMP is for £135.

I am self employed and have been able to meet that ok over the last 2 years, and would probably have looked at upping the DMP later in the year as one of my business costs will decrease significantly towards spring 2009.

However, in the last few months my business has started to fall in sales. I have heard some folk on the tele say there is a recession ... so it is probably that I reckon :rolleyes:

I think my income will fall and I may even cease the business if it falls too much. Lets see what the new year brings.

I do own a property but rent it out to help meet the SOA and DMP.

Would I qualify for the Mortgage relief package announced yesterday or even the ISMI package?

I am single and would be looking to find work as soon as possible.

If I wasn't to qualify for the relief package as I rent the property, then it may even be better for me to stop renting and go back there and live?? I do believe this is called the poverty trap? :mad:

Would JSA work the same? If I rent then I am getting some income, although it just about covers the mortgage. If I wasnt to rent then I could claim JSA or does it not work like that?

What would be best for me would be to reduce my mortgage payments to half what they are currently. I pay £660 a month for the mortgage.

Any advice welcome.

I will discuss all of this with CCCS when I do my yearly renewal but I know that the people on this board are supportive and offer great advice.

Thanks
MM