DMP Mutual Support Thread (Part 5)

MRSG2B_2

mandij30 wrote: »

Just been contacted by payplan, they said they are unable to help me because my debt amount is under £6000. apparently they can only help people who have debt of over £7000. Then they recommended me another Debt management company ( however these charge an arrangement fee )
So I'm still no better off and back in the same circumstance I was in earlier.

I have debts of £5500

Anyone have any other suggestions ????

Perhaps try CCCS, I'm not sure if they have a minimum, but you can fill all your earnings and expenditure on their debt remedy on their website, and they say straight away on there whether they recommend a DMP for you, or another solution xx

mandij30

MRSG2B wrote: »

Perhaps try CCCS, I'm not sure if they have a minimum, but you can fill all your earnings and expenditure on their debt remedy on their website, and they say straight away on there whether they recommend a DMP for you, or another solution xx

National debtline have just told me they are unable to help me also, as my debt isn't high enough for them to help me.
Sheesh it seems like you have to have even more debt before anyone will help you. Trying cccs now.. fingers crossed for me Xx

Daffykjs

or if not you could always go it alone!! there are quite a few folks on here that do a self managed DMP who could give you some advice!

cleomolly, welcome. i'm not sure about the joint account tbh. is it just you on the DMP? Or joint? Both me and hubs are on ours but none of my creditors are to do with my bills account (which was in joint names) but hubs has an od with the same bank, on the plan. so i took his name off the joint account, just to be on the safe side. I have a feeling in order to take money from a joint account they have to ask but i didn't want to risk it. if i was you i'd take your name off the joint account! better to be safe than sorry!

cleomolly

Daffykjs wrote: »

or if not you could always go it alone!! there are quite a few folks on here that do a self managed DMP who could give you some advice!

cleomolly, welcome. i'm not sure about the joint account tbh. is it just you on the DMP? Or joint? Both me and hubs are on ours but none of my creditors are to do with my bills account (which was in joint names) but hubs has an od with the same bank, on the plan. so i took his name off the joint account, just to be on the safe side. I have a feeling in order to take money from a joint account they have to ask but i didn't want to risk it. if i was you i'd take your name off the joint account! better to be safe than sorry!

Thanks Daffy, I'm going on the DMP alone, I'm thinking I'd need to open an account to pay my wages into then, set up a DD to the joint account to pay my half of the bills, I just don't want my creditors to look into my accounts, see that I have a joint account with my OH where there is money available as this would be his spare money after paying the bills, we'd both be paying half of the household bills but he will have a few hundred left each month which i obviously cant get caught up in my mess!!!also would it be safer to get bills trasnfered into joint names, as at the moment some are in my name, some in his, but they're payed from the same account so it's never mattered before but I'm thinking it might be worth changing them into joint names if at all possible, as the ones that are in my name, i'm not actually paying the full amount only half!Sorry to be pain guys : )

mandij30

wow there a helpful bunch at CCCS aren't they............. not
here was the advice from them....

Clare : A DMP is not an option at the moment as your budget shows you do not have any money to offer your creditors. You budget shows your income does not cover your household expenses. I strongly recommend you review your budget and save money where you can

well doh!!!! I know this thats why I contacted you for help.
Jeez is there anyone out there that can help me.
I guess I have to stick with Gregory pennington debt management and carry on paying there ridiculous fee

I'm not very happy now

DevonGirl

mandij30 wrote: »

wow there a helpful bunch at CCCS aren't they............. not
here was the advice from them....

Clare : A DMP is not an option at the moment as your budget shows you do not have any money to offer your creditors. You budget shows your income does not cover your household expenses. I strongly recommend you review your budget and save money where you can

well doh!!!! I know this thats why I contacted you for help.
Jeez is there anyone out there that can help me.
I guess I have to stick with Gregory pennington debt management and carry on paying there ridiculous fee

I'm not very happy now

Right, let's get the DFW heavies in!!! Can you list your statement of affairs on here and let the gang see if they can re-jig your budget, with a view to either resubmitting to the debt companies, or doing your own DMP... Here's the link....http://www.makesenseofcards.com/soacalc.html

(I had a feeling there must be something wrong with the budget you've put together because I checked on the National Debtline website and they said you'd be eligible for a DMP if you have debts over £5,000, at least 3 creditors and at least £100 spare to pay creditors, which I think you said you have?).

Let's see what we can do for you.... :D:D

mandij30

Household Information[/b]
Number of adults in household........... 1
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 418
Partners monthly income after tax....... 0
Benefits................................ 724
Other income............................ 0
Total monthly income.................... 1142
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 224
Management charge (leasehold property).. 0
Council tax............................. 65
Electricity............................. 60
Gas..................................... 40
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 11
Satellite/Cable TV...................... 53
Internet Services....................... 17
Groceries etc. ......................... 200
Clothing................................ 50
Petrol/diesel........................... 40
Road tax................................ 20
Car Insurance........................... 33
Car maintenance (including MOT)......... 5
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 100
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 7
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 955

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 370
Other assets............................ 0
Total Assets............................ 370

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Next...........................970.......0.........0
mbna cc........................4500......0.........0
overdraft......................500.......0.........0
Total unsecured debts..........5970......0.........-

Monthly Budget Summary
Total monthly income.................... 1,142
Expenses (including HP & secured debts). 955
Available for debt repayments........... 187
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 187
Personal Balance Sheet Summary
Total assets (things you own)........... 370
Total HP & Secured debt................. -0
Total Unsecured debt.................... -5,970
Net Assets.............................. -5,600

Also forgot to add.... I am paying gregory pennington £120 a month to pay off my Next and mbna cc
which I didn't include, sorry

Daffykjs

cleomolly wrote: »

Thanks Daffy, I'm going on the DMP alone, I'm thinking I'd need to open an account to pay my wages into then, set up a DD to the joint account to pay my half of the bills, I just don't want my creditors to look into my accounts, see that I have a joint account with my OH where there is money available as this would be his spare money after paying the bills, we'd both be paying half of the household bills but he will have a few hundred left each month which i obviously cant get caught up in my mess!!!also would it be safer to get bills trasnfered into joint names, as at the moment some are in my name, some in his, but they're payed from the same account so it's never mattered before but I'm thinking it might be worth changing them into joint names if at all possible, as the ones that are in my name, i'm not actually paying the full amount only half!Sorry to be pain guys : )

yeah i think this is best. (Altho i think it would need to be a standing order tho! doesn't matter tho!)

I don't think you need to put things in joint names. all ours are different and i really don't think it matters. Does your OH deal with all the bills already? Some of ours are in hubs name but as it's me dealing with everything i open everything that comes through the letter box. and only tell him if i need him to phone someone that is in his name. For household bills all i've done to be able for me to speak to them is get hubs to ring and tell them i'm allowed to speak to them. normally means giving a password that i have to give when i ring and them putting a note on the account. but the bills still come to him. maybe you could do this for the ones in your name if you feel it's necessary and want OH to look after all the bills. If not i wouldn't worry too much and would just leave it as it is.

mandij30

If only my local council would provide free school meals, that would save me £5 a day. However you have to be on unemployment benefits to qualify for that, and as I'm working I don't qualify.

I have already cancelled BT phone, Life insurance, equipment insurance, Satelite is my only means of entertainment because I cannot afford to go out. Gas and electric are both on pre payment meters.
with 2 weeks to go before payday.. I have 0.00 in the bank, and already gone into unauthorised overdraft of £57 ( so yay, they'l charge me £50 again this month grrrrr )

DevonGirl

I think I can see why you can't get a DMP - apparently you can only get one if you have at least 3 creditors. Honestly, almost makes you want to go out and get into more debt, doesn't it!;) No, only joking, I really wouldn't advise that!!:eek:

Unfortunately you don't seem to qualify for a Debt Relief Order either as you earn too much (see link: http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=37_debt_relief_orders)

Looking at your budget, I think you can make savings on your Electricity, Mobile Phone, Satellite TV and Clothing. But having said that you need to allow something for your entertainment and an emergency fund.

I take it you are a single parent? Are you receiving any income from the children's father/s? Sorry, not being nosey, just exploring all avenues! Are you getting the right tax credits and childcare vouchers?

Just ideas - there are people who are really good at sorting out SOAs - if you don't get many answers here, maybe post a new thread entitled Please help me sort out my SOA - or something - that will get people's attention!