New DMP with CCCS

gettingready

Hiya, moved here from the BR board - was considering BR but CCCS convinced me that a DMP will be more appropriate.

I will be paying £811 into the DMP from 1st Feb and obviously worried how am I gonna manage on what is leftover.

Bit complicated situation (who's isn't when money is concerned).

Just wanted to say Hi to everyone here and look forward to some tips and tricks from people who have more experience of living on DMP.

:eek:

HHH_2

Hi I've found it ok to live on my DMP with CCCS, cant have flash holidays or anything but providing you leave enough in your budget not to panic if the unexpected happens you should be ok. It's the best thing Ive ever done and it makes me feel ok too as I am paying back what i borrowed. My creditors have stopped interest so my debt is going down and it gives me a nice warm feeling after years of being worried. good luck!

GeorgeUK

Hi gettingready.

If you intend to do a SMP, it might be worthwhile posting up a statement of affairs so you can see exactly where your money will be going and what needs to be budgeted for. This should hopefully allow you a better idea of how to manage after payments are made.
http://www.makesenseofcards.com/soacalc.html

gettingready

HHH and George - thanks.

I already have SOA, done together with CCCS before the amount of my DMP was agreed.

Just popped in here for some mutual support really.

gwon

That's what we're here for. There is actually a 'DMP Mutual Support' thread too

http://forums.moneysavingexpert.com/showthread.html?t=1735087

sunnydais

Hi GR ...I have just set out on the DMP road as well..its quite a habit change having absolutely no access to credit as I had become so used to using it as a bail out !! but am very glad to be working on paying back the debts

gettingready

Thanks Gwon - did not know there was one... will pop in there

Sunnydais - yup, gonna be harddddddddddddddd

iwillgetoutofdebt

Hi there. I am starting my DMP in January and am looking at it as a fresh start. Ironically over the past few months I have become very good at budgeting, as struggling to meet my minimum payments necessitated it. I will have more left over each month after my £700 DMP payment than I have had for some time, plus I can actually sleep at nights now.

dancingfairy

I guess whether you went Br or did a DMP you would have to budget - it's a skill - and like everything needs practice - but you'll get there and the feelng of beng in control will help.
df

gettingready

Thansk again - I am sooooooooooooooooo good at budgeting
Everything I have an on spreadsheet to the last penny and on the spreadsheet it all looks good. Only when it comes to real life - one thing here and one thing there and the whole budget goes to....Hmmm
Will have to be better though as the allowance I have, under my circumstances and commitments other than debts is... VERY low.

gettingready

OK - I had another GOOD look at the SOA proposed by CCCS and would like someone to comment on this please?

I have a big problem here as the "allowable" expense for pets is a total of £25 per month. I have a dog (German Shepherd) and a cat. Just the insurance for those 2 is £51 per month (can not get this cheaper, already checked).


Cat is an indoor cat and as well as cat litter expense (cheapest at £8.99 per 30 litres lasts a month as he has kidney problems and pees a LOT) he is also on medication which is £15 for one lot of tablets per month and £10 for special powder to mix with food every 3 months - this is not covered by insurance. And then the food of course.

Dog is a 35kg of a German Shepherd and eats as such - dog food costs me about £50 per month and I also pay for a dog walker to take the dog out while I am at work.

Now, I understand the creditors would nto be happy with the dog walker (£200 per month and in my area that is normal, will not find cheaper) and I will have to find this money somewhere but in general the £25 per month for "all to do with pets" is a bit unreasonable - I think.... (scratching head). Giving up smoking would almost pay for the dog walker....New Year resolution (again)

Can you please have a look at my SOA below and see if there is anything I could twick a bit?

Ideally I would like to show the surplus as £600 per month but I do not think it is possible so any few pounds extra that I would be able to keep for my "expenses" would be a great help.

I do want to pay those debts off but I want the repayements to be sustainable...

Thanks a lot.

This is the SOA that CCCS proposed for me:

Number of adults 2 (daughter is a student at Uni, living at home, no income apart from student loan which is a LOAN)
Monthly Income £2,323.00 (just mine)

Rent £ 436.00
Council Tax £ 96.00
Gas £ 80.00
Electric £ 50.00
TV/Mobile/Internet £ 65.00
TV License £ 12.00
SKY £ 25.00
Public Transport £ 100.00
Food/Toiletries/Cleaning £ 313.00
Meals at Work £ 50.00
Pets/Pet Food/Insurance £ 25.00
Tobacco £ 150.00
Medicine/Prescriptions £ 10.00
Dentist/Opticians £ 10.00
Hairdressing £ 18.00
Laundry/Dry Cleaning £ 25.00
Clothing/Footwear £ 22.00
Sports/Hobbies/Entertainement £ 15.00
Sundries/Emergencies £ 10.00
Total Expenses £1,512.00

Surplus £ 811.00