DMP Mutual Support Thread (Part 5)

Eupho

DevonGirl wrote: »

Hey Eupho
Why don't you post a statement of affairs on this thread and let the experts on here go through your details with a fine toothcomb?
http://www.makesenseofcards.com/soacalc.html
Just an idea.
However, don't skim your budget too tight to the bone... As a DMP-er you won't have access to any further credit so you need some emergency fund savings for unexpected things like car repairs and the like.

Having said all that (!!!) :rotfl:I'm sure Payplan know what they're talking about so the budget they may have set you is probably quite reasonable and is done within certain guidelines that are accepted by financial institutions (for example there's a given 'amount' for 2 adults living in a house for groceries within about £50 either way). So if you think you can shave something off your budget then go ahead, but don't leave yourself short of cash or you could jeopardise your whole plan.

Maybe see what the gang say when they see your SOA?

Have confused myself now!

By the way, a standing order is a bit like a direct debit but it is for an agreed amount per month, whereas a d/d can change. Don't know how you work it out from a post office account, but most basic bank accounts will allow you to have these.

Best wishes
DG

Thankyou Devon girl! I will do the SOA (i have my own written one.. I'll use the link you gave me) :T

and Ooops!.. I DID mean 'Postal orders' .. not standing orders.. :rotfl:

Eupho

cocker100 wrote: »

Hiya,

Do you mean Postal Orders?

If you do, then yes you just buy them at the post office, take them home and fill them out. They are very similar to a cheque. Very easy!;)


Cocker:)

hahah!

well spotted.. yes! I did mean postal orders.

and thankyou for the info too! :T

Eupho

When they worked out my SOA they said I only had £28 per month surplus.. and as it was under £100 .. they couldn't/wouldn't ? help me..

anyway..

I have all the stuff to 'go it alone' ... my question is.. should I?

Or should I rework my SOA (I'm SURE I don't spend £480 on housekeeping' per month.. as they 'allowed' .. ) call Payplan .. mention this.. and try to cut a few corners (I'm pretty sure I can.. as they added money for stuff I don't seem to pay out that much for) .. and try to get it too £100 so that they may do a DMP?

Or... just got for it on my own?

I have to do something any day now.. because I have already stopped my DDs and moved accounts etc.. and the DD payments will be 'due' to be going out soon.. then my creditors will know somethings up.

(I'll be doing my SOA for here a bit later this evening)

crafty1

just thought Id post a quick update. all direct debits cancelled and set up in new account, went to post office and got postal orders all ready for token payments.
Sending info back to CCCS first thing in the morning, so should get welcome pack soon.
i'm so glad i've done this - I think!!;)

charm1

Hi,
fairly new to all this, we are just ready to send docs off to national debt line, we have enough surplus income income to do a plan. Does anyone know if being on dmp would stop me getting a fixed rate mortgage within the next 12 months. I am currently on standard variable but im concerned that when interest rates go up i wont be able to pay, also will i be able to (if i can) to save a bit extra and offer creditors a final settlement or do i have to wait the full length of plan term. We have approx £60k unsecured debt dmp payment will be approx £600 per month thanks....x

MRSG2B_2

charm1 wrote: »

Hi,
fairly new to all this, we are just ready to send docs off to national debt line, we have enough surplus income income to do a plan. Does anyone know if being on dmp would stop me getting a fixed rate mortgage within the next 12 months. I am currently on standard variable but im concerned that when interest rates go up i wont be able to pay, also will i be able to (if i can) to save a bit extra and offer creditors a final settlement or do i have to wait the full length of plan term. We have approx £60k unsecured debt dmp payment will be approx £600 per month thanks....x

DMP won't stop you from getting a mortgage, however it may limit the amount of providers you will be able to go through....you DMP company should be able to provide you with contact details for providers who are able to help.

Also, there are many people on here who are trying to save anything they can to be able to offer creditors f&f settlements when they're in a position to do this, once I'm able to do this I will be doing the same....currently somehow managing to save just over £100 most months which I never would have been able to do before I started my plan....only just had enough to feed myself each month then!

charm1

Thats great thanks, It might silly but I feel so scared to send everything off and get the ball rolling. even though i cant meet my minimum payments now anyway!!!!!

MRSG2B_2

charm1 wrote: »

Thats great thanks, It might silly but I feel so scared to send everything off and get the ball rolling. even though i cant meet my minimum payments now anyway!!!!!

No worries, glad to be able to offer others advice now I'm starting to get myself back on the straight and narrow!

Don't worry, its not weird to feel that way....I felt exactly the same going in to my DMP, I think its the fear of the unknown really! I was worried about how my creditors were going to react, however as yet (touch wood) I've only actually been phoned by HSBC, and the response has been overwhelmingly good!

I can assure you this will take a massive weight off your shoulders, and its fab being able to look at my new bank account at any point of the month and seeing it in credit, can't remember the last time that happened before I started my DMP!

Good luck, and we're all here if you're unsure of anything x

2009timeforchange

Sorry I havnt been on here ages, hello to everyone.

Ages ago there was a quote on here about harrassment and trading standards. We are on a DMP but getting 8-10 calls a day from Nationwide and they just wont listen so I wondered if anyone knew what it was and next time they call I want to quote it to them.

Thank you

Kudox

2009timeforchange wrote: »

Sorry I havnt been on here ages, hello to everyone.

Ages ago there was a quote on here about harrassment and trading standards. We are on a DMP but getting 8-10 calls a day from Nationwide and they just wont listen so I wondered if anyone knew what it was and next time they call I want to quote it to them.

Thank you

HI if you do a search for the template letters thread ( sorry don't know how to post the link) theres a letter on the there that you can send about harrassment by phone.