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Starting my DMP on 1st Feb... Anyone want to join me?
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Hi all, hope all is well with you guys. Well, prepared all the DMP notification letters and token payments today and they are ready to be sent as and when the time comes for each payment to become due (will be sending about 5 days before it's due). EXCEPT I didn't prepare one for my natwest current account, (the overdraft) as I have 2 more DDs to come out of this before the DMP starts (if CCCS agree to start it on 1st April and everything goes ok). Do I still send them a token payment, and Notification letter, even though as it was my current account overdraft, there was no "monthly payment" as such? And, if I do, where do I send it, I cant find an address and I dont particuarly want to send it to my branch address as this is next door to work and they all know me!
Am just worried now about lloyds TSB (my new a/c) being associated with Halifax, to whom I owe £3200. Will TSB have a problem with me being on a DMP? Of course they dont know yet, but they will when the payment starts going to them. And will Halifax and TSB communicate at all and take my money, or will TSB refuse to continue my account or anything like that if they find 0ut about all by debts etc.
Also nervous about Tesco Finance, as it looks as though I am being really dodgy as I only got this loan (for £7600) in Novembre 2009, and the payment was deferred for 3 months so I have actually only made 1 payment on this, the first of which was early this month. EEEEEK!!!!
It is like I am waiting for the authorities to knock on my door arresting me for fraud or deception. Can CC or loan companies or my old bank send bailiffs to siee property? I am worried about this and losing my house, as that is my only asset.
Sorry, I am being paranoid, I think a large glass of red wine is in order:beer: Do you think, to save arguments, Cheryl and Ashley Cole would share some of their divorce settlement with us silly sods? :cool: x0 -
Still concerned over the token payments by cheque, did all you guys pay with postal orders?LBM Jan 2010. DFD 2016. :think:
Paddle No. 5.
Debt at DMP start (May 1st '10) £54.9k, as of 1st Oct '11 £33.2k. 40% cleared.
(3 F & Fs down, 5 to go!) :T0 -
Professor_Pat_Pending wrote: »Still concerned over the token payments by cheque, did all you guys pay with postal orders?
the wonders of online banking, prof and I don't think they can refuse it unless the account no is wrong or something;)More than Two Years in
Doing it the Niddy way:j:j:j0 -
Excellent idea, you are right they cant refuse those payments. Good thinking Batman.LBM Jan 2010. DFD 2016. :think:
Paddle No. 5.
Debt at DMP start (May 1st '10) £54.9k, as of 1st Oct '11 £33.2k. 40% cleared.
(3 F & Fs down, 5 to go!) :T0 -
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1006
Partners monthly income after tax....... 0
Benefits................................ 121
Other income............................ 574
Total monthly income.................... 1701
Monthly Expense Details
Mortgage................................ 591
Secured/HP loan repayments.............. 229
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 60
Gas..................................... 65
Oil..................................... 0
Water rates............................. 28
Telephone (land line)................... 0
Mobile phone............................ 18
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 10
Petrol/diesel........................... 20
Road tax................................ 5
Car Insurance........................... 5
Car maintenance (including MOT)......... 10
Car parking............................. 5
Other travel............................ 0
Childcare/nursery....................... 20
Other child related expenses............ 15
Medical (prescriptions, dentist etc).... 8
Pet insurance/vet bills................. 0
Buildings insurance..................... 7
Contents insurance...................... 7
Life assurance ......................... 35
Other insurance......................... 0
Presents (birthday, christmas etc)...... 25
Haircuts................................ 10
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1505
Assets
Cash.................................... 0
House value (Gross)..................... 110000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 113000
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 92000....(591)......6.91
Secured Debt.................. 26000....(229)......9.1
Total secured & HP debts...... 118000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
credit card....................2250......68........11.9
credit card....................11250.....235.......0
credit card....................3200......96........13.9
personal loan..................7600......91........7.9
overdraft......................3000......0.........0
credit card....................5250......68........19.9
credit card....................5595......86........0
Total unsecured debts..........38145.....644.......-
Monthly Budget Summary
Total monthly income.................... 1,701
Expenses (including HP & secured debts). 1,505
Available for debt repayments........... 196
Monthly UNsecured debt repayments....... 644
Amount short for making debt repayments. -448
Personal Balance Sheet Summary
Total assets (things you own)........... 113,000
Total HP & Secured debt................. -118,000
Total Unsecured debt.................... -38,145
Net Assets.............................. -43,145
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.0 -
Hi, I've been lurking but its time to make an entrance!. I have 23,000 of debt built up over the last 12 years or so and am starting a dmp with cccs to hopefully start on April 1st. I should be debt free in 6 years or so but I have worked out that I can reduce that to about 4.5 yrs when repayments on a secured loan end in about 14 months. I am married with 3 kids, 3 dogs and my OH is not totally aware of how much debt I have, just that I am putting all my energy into clearing it.
I am about to start sending my first token payments for March and I am a bit uncomfortable about sending really small payments. Is 1.00 really what most of you have sent? So far, I have made all my min payments (many of them late though) as my parents have given me cash for the past three months so the dmp will come as a shock to my creditors. I also read on this thread not to sign the notification of dmp letter to creditors that came from cccs before sending. I can understand why, but have most people had no come back on that? Finally, has anyone got a true call box?!!
Looking forward to getting to know everyone on the same journey!Paddle no. 12
DMP start 1st April
Debt at LBM £23,0000 -
LJM - Hello and welcome
I only sent £1 as token payments, others did send more but personally I thought it best not to send any extra as I don't have an 'emergency fund' and thought any extra could go towards this.
I've not got a trucall thingy but there are a few people around here that do, and they'll be along shortly.0 -
Morning Everyone - hope its a good day with no :eek:and all:j!
Couldn't sleep so had to get up to check that dh's wages had gone into the co-op phew:j they have, so we can do the budget really properly this month. Going to be tight though car needs mot and service...and am really going to be tight on food shopping, where do we stand on re-issuing non eaten packed lunch sandwiches?????
Welcome ljm23k :T for finding us and getting your dmp set up. Must be fun in your house with 3 kids and 3 dogs...
I sent two lots of token payments, £5 for the first lot and £2 for the second....I'm the same, we had mae the min payment up until some of the january payment when tokens started, we were sometimes late but always managed to do something to pay them; savings, sell stuff arhh so stupid, if we'd faced up to it then we could have got rid of it all, but still the Light Bulbs well and trulely on now.
Don't know about signing the dmp notification letter, I honestly can't remember, if it has a place to sign then we did sign it, didn't know there was any talk of not. We didn't sign the letter we sent with the first round of tokens saying we were experiencing difficulties and here's a little bit of dosh to put you on!!
Not got true call, but been recommended, if the calls get back to how they were would consider buying one - unbelievably we've one had one call in 10 days - shouldn't have said that it'll go mad today now!
Tedsd - I sometimes have two windows open if I want to catch up on lots ! Get in a right muddle!
Nataz Wow god price on your pram, must have been a good one! Have you given a pram up now? I still need one as a restraint for ds2:eek:
Sorry for any typos ds2 - of the still exploding bottom is on my knee!DMP mutual support thread member 371LBM Jan 2010DMP Paddle No 20 -
Mamajojo - DS2 still exploding????
Just wanted to add I didn't sign any letters to creditors. Read on here that you shouldn't but I'm not sure why.0 -
Hi Losing
have you posted your soa on the main board, i'm not sure what to do about these! It looks like its good to me, but i'd expect someone to say £25 on presents was too much!
we didn't send a token to current account od just the notification letter, but we have made sure we didn't go over the od limit, and are 92p under it which is a miracle and like a token of at least £100!
Got to run, didn't realise what time it is, dd will be late for school again!DMP mutual support thread member 371LBM Jan 2010DMP Paddle No 20
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