DMP Mutual Support Thread (Part 6)

newbeginning_2

jenevieve wrote: »

Dear All,

I am on a DMP and have been for one year in July. I have to admit that learning to budget has been difficult and I haven't quite cracked it yet.....

I currently house-share with a friend (who owns the house so I technically lodge) and I pay her £550 a month for room rent inclusive of bills which are split 50/50. We share food etc. I have lived here for 2 and a half yrs.

I had previously lived alone and am probably saving at least £300 by sharing. I have had a look at spareroom and other flatshare websites and for the area I live in, I am paying at least £100 - £150 more than the average price.
My friend is lovely and allows me to feel like her house is my home but I am seriously considering moving to save the extra money as I am still struggling. Some of this is definitely my own lack of budgeting (which I am working on improving). My DMP is reasonable and I do not want to change the amount as all my creditors are happy with the current payments.

I have about £300 worth of work that needs doing on my car and I feel like I cannot catch up with myself from month to month. I have had friends'/family big birthdays this year and am trying to get by as best I can without showing my lack of cash.

I have wondered about asking for a reduction in my rent but my friend does not know about my DMP. I have kind of alluded to the fact that I am paying my debts off but in a light-hearted way.

I know I have work to do on my own budgeting but am feeling out of control and really do not know what to do for the best. Despite being glad the DMP is up and running, I feel full of despair at the moment.:(

Any advice is greatly appreciated.

Thank you.

Are you with CCCS/Payplan? If so if you give them a call as far as I know they'll let you make a lower payment/token payment for the month.

the_tooth_fairy

3431Anna wrote: »

my husband is in a debt management plan two of his creditors Halifax cc and Marbles were origionally not charging interest but now they have started to charge interest at l% apparanly because he is able to pay a larger amount for a payment apparently if he could only pay a small amount each month they would be more inclined to freeze interest has anyone any experience of this

Yes, my OH and I both have debts with RBS and they only froze interest for the first three months, now their 'reduced' rate isn't much less than the original. For example I'm now paying £38 interest a month against a payment of £58. You start to feel that you're getting nowhere with it! When we rang them, they just said, that's the way it is, we may approach Payplan, but what's the point?

CharliesAngel

dmb wrote: »

MBNA has just written to me giving me a new account number with a new minimum payment amount (which is just slightly below my DMP payment to them). The £1 charge is an administration fee but 'out of goodwill' (their words!) they will deduct it back again.
Loyds TSB on the other hand have just whacked full interest on my account yet for the past six months I have been paying reduced interest. I give up - why do they think I am now able to pay more - banks - they are a law unto themselves

How kind of them :rotfl: they just do it every month then to remind us of how generous they are?! lol

Know what you mean about Lloyds.. still paying full whack interest on mine despite me writing to them requesting them to reduce it.. grr.

Keep your chin up though.. won't be forever

CA x

jenevieve

newbeginning wrote: »

Are you with CCCS/Payplan? If so if you give them a call as far as I know they'll let you make a lower payment/token payment for the month.

I am but I am worried that if a pay a reduced amount then my creditors won't get their usual payment and will withdraw acceptance of my DMP.

newbeginning_2

jenevieve wrote: »

I am but I am worried that if a pay a reduced amount then my creditors won't get their usual payment and will withdraw acceptance of my DMP.

Don't know how it works TBH, just seen people mention it on here before, maybe give CCCS a ring and see what they suggest?

System

Hi Jenevieve

You could move but if you are happy where you are that is worth an awful lot too.

I wonder if it might affect your friendship if you asked for a rent reduction . . although if you do feel you are paying more than the going rate I guess you have a case. The thing is, in a shared home you may have to make a lot more compromises than you might where you are now.

Is your car really essential? I know it's daunting not to have the independence but it can be a relief to get out of the spiral of repairs / petrol / tax / insurance etc?

ianmak

jenevieve wrote: »

I am but I am worried that if a pay a reduced amount then my creditors won't get their usual payment and will withdraw acceptance of my DMP.

If that payment is in your DMP budget, then there's not much point in asking to pay less rent (unless you don't tell the DMP people of course!). Two years in and I'm still struggling with my budget, and feel I never have anything left over. Not sure what else to say, but I've learnt how to cook, to not go out, and to cut out all luxuries. It's all good fun!

viv.

Well all was going ok until Link Financial jumped on the band wagon. They have taken us to cort and been issued with the judgement and the judge has sent the paperwork to say that we must pay the full amount by the 20th May which obviously is not possible. Does anyone know what I have to do to ask the court to consider a reduced monthly payment in accordance with my DMP. I have called my DMP company bt to be honest they are bloody useless and I really dont trust them to do it and get it right. I thought the form might be a N245? and also as it is joint do we both have to complete a form?
HELPPPPPPPPPPPPP LOL

Julie67

Hi

I have 5 creditors and we are doing a self admin DMP. Wrote to everyone around 3 weeks ago with initial letter, budget and token payments. Our main creditor is HSBC with a CC/Loan and Overdraft. To be honest not had hardly any acknowledgement. Just a very bland letter from Halifax CC saying they have cancelled the minimum DD payment and need to make our next payment according to the statement by 26th May. I had asked everybody if we could begin 26th June! The payment on the statement is same as usual so not reduced. The only other letter is from HSBC loan saying the DD is cancelled and did we want to set up a standing order for more than double the amount we have offered, though still reduced also refusing to cancel the interest. No phone calls and nothing from the other departments at HSBC. Would you just continue with the plan and see what happens? Also would you pay by check or standing order.

Thanks for any advice Julie

newlywed

jenevieve wrote: »

I am but I am worried that if a pay a reduced amount then my creditors won't get their usual payment and will withdraw acceptance of my DMP.

Well I did it after 1 year on a DMP - reduced payment to less than half because of car repairs. CCCS were really good about it but told me to ring each creditor just to let them know it was a one off. So I eventually raised courage and did that. They ALL said, ok fine we've noted it on the records

Then afterwards the only one still charging me interest had a bit of paddy fit so I told them I had rung them beforehand and let them know - apparently the message didn't get passed through the departments - and they said oh ok then and went quiet

I did it again last year when I was struggling with everything and again, all was fine apart from the one who was charging interest - they issued a default and passed to a debt collector so interest stopped!!!

Honestly, if they know it's a one off, then they are fine. On the other hand, if you think you will struggle even after that, then maybe you should ask for a review too. You don't have to wait for CCCS to contact you to do a budget review, you can just ring em




- Sorry don't know about the court form question. If you ring the courts, they should be able to tell you though?