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OH and 34 yr DMP

Hi I am new and feeling low
Where to begin, Cutting a long stort short, My OH has unsecured debt of £50k spread over 6 creditors. We have a morgage etc and are not in arrears with any of the priorty stuff, I am disabled and my home has been adapted to my needs, we have two dependant children.
OH realised that he was not able to make creditor payments and after long talks with debtline he has been advised to go on a DMP through the cccs, my OH is partly disabled himself and on a very low wage.
We cannot remorgage and losing or selling our home is really not an option, as I have stated I have severe disabilty and my home is adapted to cover my living needs.
This has been extremely stressful for me, but have tried to stay calm and this site has helped.
My husband has done everything as far as keeping all creditors informed etc and the DMP is in the process of being set up,but it will run for 34 years, its amazing that a couple of his creditors have been excepting and they are the ones he owes most to, the ones he owes far less to have been hurrendous.

Crapquest and Moorcroft are involved with two of the debts, Crapquest then sent a letter from HL Legal, their solicitors, two days after we had first heard from them its crazy.

IVA also not an option as not enough disable cash

Michelle
Chelly:A

OH begining Dmp 08/2006
«13

Comments

  • I am going through Bankruptcy at the moment, its not as frightening as its made out... and you certainly wont be feeling the effects for 34 years !
  • earwig
    earwig Posts: 1,097 Forumite
    I've been Money Tipped!
    hi could the councill help you if you do lose your house as you have medical grounds have a chat with your local housing officer they should be able to tell you if they can help if you did lose your home its worth having all the facts my oh had to go bankrupt last year and we was on a dmp but my oh would of been 72 before it would have been paid of so we took bankruptcy as said before its not as bad as it use to be ask adicted2choclate she may be able to help you about losing your home or not through bankrupcty good luck
    i cant slow down i wont be waiting for you i cant stop now because im dancing
  • Hiya Hun.

    Because of your home situation the DMP really is your best option for now.

    Do you have much/any equity in your home?

    Could you post an SOA for us?

    Wg xx
    All comments and advice given is my own opinion and does not represent the views or advice of any debt advice organisation.

    DFW Nerd #132
  • chelly63
    chelly63 Posts: 44 Forumite
    SOA
    OH wages £725.00
    Tax Credit £415.35
    Pension £60.92

    Total £1201.27

    Morgage £594.84
    Endowment £55.95

    Council Tax £106.00
    Water £55.60
    Buildings ins £31.55
    Life ins £50.13
    Gas £40.50
    Elec £37.50
    Petrol £10

    Mobile £5

    Personal ex £40

    Housekeeping £40

    Total 1077.37



    Creditors Egg loan £19320
    Egg Card £2330
    Llyods Card £15300
    Overdraft £2600
    Capital one £9200
    Argos £800
    GE money for B&Q £1000


    As already mentioned, losing the house really is not an option, the adaptions are extensive and without them..I could not live independantly, we do not wish to go that route, it would cause devastation to us, the worry of that has already made me go down to 5st in weight. I really do not want to follow that train of thought on here, we have been in touch with all creditors from the get go, and also debtline, whom have now said DMP with cccs, morgage and all prioity debts are being paid.

    Our morgage has 12 years to run is part repayment part endowment, just found out Saturday the morgage may shortfall by 13K, it was meant to cover £33k, but I have got that in hand.
    The house roughly worth £125k, morgage is 80k.
    Michelle
    Chelly:A

    OH begining Dmp 08/2006
  • Can you just take a loook at this please wonder_girl
    Thanks
    Chelly:A

    OH begining Dmp 08/2006
  • Are you there wonder_girl?
    Chelly:A

    OH begining Dmp 08/2006
  • snoozer
    snoozer Posts: 3,756 Forumite
    Part of the Furniture 1,000 Posts
    chelly63

    I know there will be more knowledgeable people along to help. I just wanted to ask if you are claiming all the benefits you are entitled to? It might be worth looking to see if you can get more money that way.
  • Fleago
    Fleago Posts: 1,185 Forumite
    Part of the Furniture Combo Breaker
    snoozer wrote:
    chelly63

    I know there will be more knowledgeable people along to help. I just wanted to ask if you are claiming all the benefits you are entitled to? It might be worth looking to see if you can get more money that way.

    My thoughts too, snoozer. Disability Living Allowance (DLA) is the one that springs immediately to mind. The OP could phone the Benefits Enquiry Line on 0800 882200 and ask for a claim form to be sent. Their Local Authority may have a Welfare Riights Team attached to the Social Work Department who can help to fill it in or, alternatively, CAB might help too.

    Fleago
  • I am on all the benefits that I am entitled to,I am on DLA, but the DLA cannot be used against my OH debt, all of that plus goes on my actual care etc, I have carers coming in.
    OH is getting working tax credit, so we are pretty much on what we are entitled. I have a car that is adapted and thats mobility, OH uses a push bike for work.
    cccs called today and they are going ahead with DMP
    Will feel a little better once that begins, at the moment I am a total bag of nerves.
    Michelle
    Chelly:A

    OH begining Dmp 08/2006
  • Hiya,

    Sorry for taking so long to reply,
    I can’t see anything wrong with your budget. :)

    I have however worked out that your DMP will last 15 ½ years not 34 :D

    As losing your house isn’t an option bankruptcy is out of the question, and your surplus isn’t enough for an IVA, a DMP really is your best option at the moment. And 15 years is worst case scenario, your DMP will be reassessed once a year and fingers crossed your circumstances will improve and you may be able to increase your deposit!

    Sorry I couldn’t offer better advice at this stage but your in safe hands now

    WG xx
    All comments and advice given is my own opinion and does not represent the views or advice of any debt advice organisation.

    DFW Nerd #132
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