DMP Mutual Support Thread (Part 5)

ianmak

Murraymint. It depends on if you want another child or not? Don't worry about your debts and worry about what you want for your family?

It should be pointed out that I don't have children, and neither do I want any. I have enough trouble coping with my sister's kids! And if it helps, she is the eldest out of the two of us by 5 1/2 years, and we've always got on well, fighting as brothers and sisters should!

bexxie90

HI there

I am starting a DMP soon and wanted a quick piece if adive if I may?

Firstly,we are a fixed mortgage with NR til 2011 and my DMP will be for 6 years. My Q is will they let me fix again? I am totally naive here as am trying to get my head round it all and without this site well dont kow what I would do so thanks.:j

Second (sorry just thought of another) what does CCA mean?
Thanks bex.xx

tinkerbell12

Thanks so much for your good wishes! It is still early days so haven't told many people yet and not planning to tell work for quite some time (tummy size depending!)

Ex-Spendaholic - you are right, we will get increased child benefit but tax credits are unlikely as we don't get any with our first daughter. Although, when I am on mat leave I should qualify as mat pay is rubbish! Will have to find out... Yes the new grant for pg women is great as everyone gets that but I find it all a bit odd. How on earth do they know that I won't spend it on fags and booze!!! (of course I won't actually be doing that lol!)

Murraymint - you are in exactly the same boat as we were. Our DD in nearly 4 and we just didn't want the gap to be larger than 5 years. Our DMP has about 4 years left if all goes to plan and I cannot wait that long. It isn't fair on me (will be in mid 30s by then) and our daughter. Yes it will be really tough but we are going to save a little each month to help towards purchases for baby and of course, we already have quite a lot from first time around. I really want 9 months off this time aswell so DMP payments may have to fall a little.

I had some really good advice when I posted on here a while back and the general concensus was go for it (so we have lol!!)

Tinkerbell xx

ianmak

bexxie90 wrote: »

HI there

I am starting a DMP soon and wanted a quick piece if adive if I may?

Firstly,we are a fixed mortgage with NR til 2011 and my DMP will be for 6 years. My Q is will they let me fix again? I am totally naive here as am trying to get my head round it all and without this site well dont kow what I would do so thanks.:j

Second (sorry just thought of another) what does CCA mean?
Thanks bex.xx

Bex, I'll let you know when my FR runs out in July! TBH at the moment, I'll be happy to go onto a variable rate as the rates are so low (I'm currently paying 6.48% !), but we don't know what will happen in the future. Personally, I don't think I'll get a good rate (or even a FR for that matter) because of my many defaults, but who knows?

CCA = Consumer Credit Agreement? It's what you sign when you take out a Credit Card or loan.

dlb

You can not put your life on hold just because you are on a dmp.
If you want a child or are expecting a new arrive...then go for it...the beauty of a dmp is that it is very flexible in that you can lower your monthy payments to your growing family, and beacuse you have already learnt to budget and shop well you may well find it doesnt effect you finacial as hard as you think.
Freecycle is great for baby items my local one has always got loads of baby items on offer, friends and family will buy loads, and it will give you something to look forward too.

Having 4 kids myself aged 6-13 i have always been on the dmp whilst having the kids they were 3-10 when i started out on my debt free journey..they havent suffered, always get a nice b/day and xmas and a hoilday each year, and the best gift i have given them is that i have never lied about the mess we got ourselfs into and they have learnt from this...i hope and pray they never get into the sittuation moneywise we did...but i know if they do they will be able to come to us for advise and know we wont judge them as they hear us talk about dmp, creditors the older kids even hand the phone over and say its one of the money people!!! and laugh.
Dmp is just our way to a worry free life...it doesnt mean we have to stop living!!
Good luck to all
Donna
xxx

princess-of-plastic

hey guys, we are about to take the plunge and set up a dmp with cccs. Can anyone tell me what i need to send them with my agreement? i know they need proof of income, but i think i may have misplaced the letter telling me how much tax credits i get! I am so nervous about doing this and we are up to date on all our payments at the mo but panicking and ebaying and scraping every penny together to maintain that is really getting to me and i really cant do that any more. Any words of wisdom you all have would be fab. Thanks! pop xxx

billybobberyl

hi we got our paperwork through from cccs but realised we have our mot at the end of this month and i know its going to be an issue, we need the car as my husband has to drive to work. Also we have already paid all this months creditors. Would it be too much to ask to start on may 1st giving us march to pay for the car and april to hide for emergencies am a bit worried if we start in april we will have no back up

sam89

Congratulations Tinkerbell, that's fantastic news :j .

To everyone worying about their fixed rate mortgages ending. When ours finished our lender (Clydesdale Bank) just transferred us straight to variable rate. No forms, questions or credit checks . We're also £100 a month less for our mortgage than we were on fixed rate, so I wouldn't worry too much about it. If you're paying them every month you can be pretty certain they won't want rid of you .

Sam,
x.

msc1977

billybobberyl wrote: »

hi we got our paperwork through from cccs but realised we have our mot at the end of this month and i know its going to be an issue, we need the car as my husband has to drive to work. Also we have already paid all this months creditors. Would it be too much to ask to start on may 1st giving us march to pay for the car and april to hide for emergencies am a bit worried if we start in april we will have no back up

I would speak to CCCS and see what they advise, our paperwork came thru about 2 weeks ago but because some statements are only just coming througfh now its going to be about this time next week before we get everything sent off. Because CCCS will receive the info after 15th Feb we wont start ours till April 1st, this has given us a little bit of time to get an emergency fund together etc and CCCS are awareof this and that we have made 2 months of token payments, i assume you will be fine but it cant hurt to check.

Hope the MOT goes ok. x

ianmak

Your thoughts please!

Just got a letter from one of my creditors. They've offered a FF of 2k(ish) (it's negotiable) on £5.5k of debt. Otherwise they will default and sell on to debt collectors. Pretty good offer I thought... I haven't the money, but could prob borrow off parents... they have a rough idea I'm having problems, but not the extent.

Should I crawl to them and ask for money (not something I enjoy doing!)?