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DMP Mutual Support Thread (Part 5)

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  • Is the car on HP agreement? Or did you buy the car using a credit car or loan?
    Total Debt as of January 2010: £61,234 :mad:
    Debt Free Day: A long way off!! :j
    DMP mutual support thread member: 302 :j
  • jodie04
    jodie04 Posts: 97 Forumite
    I bought it with car finance
    £2008 in 2008 (187) £186.

    March: dvd & Choccy
  • I would check the agreement you signed, as I know many of them have clauses in them that allow then to take back the car if you default on payments. I'm by no means an expert in this area so I'm sure someone more knowledgeable will be able to give you some more concrete advice on this one :)
    Total Debt as of January 2010: £61,234 :mad:
    Debt Free Day: A long way off!! :j
    DMP mutual support thread member: 302 :j
  • jodie04
    jodie04 Posts: 97 Forumite
    Thats what i`m worried about.....
    but if it`s a business expense, then it needn`t be included in the dmp???? or should it???
    will have to ask them in morn i suppose.
    Thanks for the advice
    £2008 in 2008 (187) £186.

    March: dvd & Choccy
  • If the loan was taken out in the businesses name it may be different but I'm not really qualified to give advice on this as I don't know enough. Good luck with phoning tomorrow - let us know how you get on :)
    Total Debt as of January 2010: £61,234 :mad:
    Debt Free Day: A long way off!! :j
    DMP mutual support thread member: 302 :j
  • muddlemess
    muddlemess Posts: 127 Forumite
    jodie04 wrote: »
    I bought it with car finance

    Hi Jody

    Not 100% but think this would come under your priority payments along with rent, mortgage etc. Which you are responsible for paying and gets taken into account before they work out your DMP payment.
    Slimming World Newby 75.5lbs for starters, another 75lbs after that! :(
    :rotfl:One small step for me one giant leap for my backside! ;):p;):rotfl:
    Started 14/08/10 Lost to date 35lbs Left to go 40.5lbs:eek:

    :rotfl:DMP mutual support member 301:rotfl:
    Start DMP 1 Oct 09, DFD 2028 :eek:
    Turn your face to the sun and let the shadows fall behind you!
  • jodie04
    jodie04 Posts: 97 Forumite
    that sounds more like what i want to hear, just hope this is the case. x
    £2008 in 2008 (187) £186.

    March: dvd & Choccy
  • muddlemess
    muddlemess Posts: 127 Forumite
    jodie04 wrote: »
    that sounds more like what i want to hear, just hope this is the case. x

    Fingers crossed.... It's nice to see people on here there hasn't been many the past few nights! xx
    Slimming World Newby 75.5lbs for starters, another 75lbs after that! :(
    :rotfl:One small step for me one giant leap for my backside! ;):p;):rotfl:
    Started 14/08/10 Lost to date 35lbs Left to go 40.5lbs:eek:

    :rotfl:DMP mutual support member 301:rotfl:
    Start DMP 1 Oct 09, DFD 2028 :eek:
    Turn your face to the sun and let the shadows fall behind you!
  • ianmak
    ianmak Posts: 1,125 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
    I believe muddlemess is correct here. Particularly when it's vital to your business. But again, I'd double-check to be sure!
    DMP mutual support thread No: 243
  • That'll be good if it comes in under priority payments - hope it does! Right, off to watch Ashes to Ashes. Night all :)
    Total Debt as of January 2010: £61,234 :mad:
    Debt Free Day: A long way off!! :j
    DMP mutual support thread member: 302 :j
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