DMP Mutual Support Thread - Part 7

milliemonster

No unfortunately its not a private prison, HMP service.

Yes I totally agree about not using credit as it's just going to spiral the problem, I am trying to look at what a realistic budget is for us as a family as I realise if we go down the DMP route then our access to credit is going to stop immediately (and quite rightly too) and I worry about emergencies that may crop up (ie currently my car needs work on it that is going to cost £160 but I can't afford to have it done, it will need to be done before the MOT in March tho)

I have looked at the National Debtline site and I have been trying to stick to a budget of £200 a month for the 4 of us, but their suggestions are around £500!!! this seems a lot!, I really don't know how to set a realistic budget that would take care of every eventuality to then be able to assess what we would have left over to give to creditors and not end up struggling to survive each month

Twit_Head

milliemonster wrote: »

Thanks Twitty, the reason he thinks he will be sacked is it is a condition of employment that he cannot be in financial difficulty (as the prison service see it as a high risk that he could in effect take bribes from an inmate) but I see this as only in relation to bankruptcy, I don't see how his employer would know if we were on a DMP???

Fortunately, our only secured debt is the mortgage which is 20% of our current income so without the debts we would be laughing even on one income!

Is there any budget calculators that give you an indication of what a realistic budget is for things like food/car maintenance etc???

Hey, I'm such an innocent (blush!) I never thought about bribes.
Really not sure how you would stand with a DMP. Is there someone at work who would be able to advise? I'm sure you you can't be the only people in this position.
As to working out a reasonable budget, the CCCS on-line calculator is great. It has a good comprehensive check-list so you don't forget to add all your expences in and gives you good guideline amounts for your situation. You are not committed to taking a DMP. It will 'hold' the information for you for an amount of time. Lots of sound advice on there too. Worth a look.
Good luck getting it sorted.

'Twitty'

Raquela

I used to work for the police who had a similar policy as HMP, but they were fine with both DMPs and IVAs, in fact someone told me IVAs were set up specifically for police officers who would otherwise lose their jobs because of bankruptcy. No idea if that's true or not. But yes, your husband should talk to his HR department in confidence to find out what their policy is on DMPs.

My news - CCCS have closed my DMP for missing three payments :-(. I've been out of work since August, have literally no money, and things are feeling pretty dire. I have written to all my creditors to tell them I can't even afford token payments (as I'm on benefits my SOA is in deficit to £160 and that is just essentials and food. I've been managing to make it up by not putting aside money for the car tax and water bill, and the odd sale on amazon / ebay. but can't put this on my SOA).

It's all very depressing, as is being cooped up in the house all day because I can't afford to go anywhere. The car is technically my mums and she was going to give it to me at the end of this month, but I've told her I can't afford it, and that I think she should sell it. It will be hard without a car, but not impossible.

I have no idea what my creditors are going to say, I'm worried to say the least. But if they made me bankrupt I think it would be a dream come true, as that feels like my only option now, I started trying to pay these debts off about 10 years ago now. I just wish that going to university had actually helped me get a decent paying job, and that I had never tried to do my post graduate studies (which I couldn't afford to complete and whacked another huge debt on me).

Life would start feeling better if I could get a job, but no one seems to want me, despite a good CV. I just feel completely stuck in a rut, and don't really know how to pull myself out of it.

milliemonster

Raquela I am so sorry things are not going so well for you at the moment, maybe if the job situation isn't looking great for the forseeable future you may be better off looking at bankruptcy if you have no assets?

I have been on the CCCS debt remedy which was great as yes it did give me an idea of what we should need as a family to live off each month, which is actually much more than we have now!, it recommended an IVA however I don't want to go down that route as our income/outgoings is going to change a lot over the next few months once I start my new job and am nursing again we should be able to cover everything, but in the meantime we are going to have to look at reduced payments/DMP, I have added absolutely everything up this morning and it is well over 40k (just over 56k in fact, oh the shame!), we just can't manage this level of debt currently while I am not earning.

I am waiting now for CCCS to get back to me via email, it said 24hrs and they would email me everything to start a DMP?, in the meantime, everything is paid up this month and no more repayments due until beginning of Dec so at least I have some breathing space to sort things out. Need to speak to hubby tonight.

I know we need to set up a new account as our joint account is with HSBC who we have 3 overdrafts and a credit card with, who do we set one up with? will be still be allowed a cheque book account? I don't use cheques that often but have to pay for my daughters piano lessons once a month and the only payment method the teacher accepts is a cheque (please don't tell me I have to cancel these lessons, I have cancelled everything else my daughter does and it is the only thing she now does), it's the same with my nursery for my son, I have to pay the fees by cheque.

sickasachip13

Hi Milliemonster

We set up an account with Santander and have requested a cheque book (Co-op refused us) and opened an online Post Office account.

The debt remedy thing also recommended an IVA for us - like you our debt is significant and I am also not earning since being made redundant. But we've gone for a DMP.

Try not to worry. The days off facing up to it were the worst for us, I was literally in tears for hours and my partner was just totally shut down. But, we accepted the situation and realised we needed to do something!

Best of luck.

Hopelessly_Hopeful

Welcome Millie and Siackas. Sounds you you are both on your way! These boards are fabulous for sharing wisdom and reducing learning curves and providing support.

Raquella sorry to hear your are having a rough ride. You owe it to yourself to seriously consider the bankrupcy route. Have you checked the board out? Without wishing to sound disrespectful, the only way is up. Sounds like you could do with the break and it's not as though you haven't really tried with the DMP

HHx

grantalien

Have redetermination hearing tomorrow for a CC debt with Nationwide of £3300 - offering £35 per month but they want £70...hopefully the judge will be reasonable and we shall go from there! plan for the worst hope for the worst.

any last minute tips appreciated

will report back tomorrow - is there a dedicated thread here for ccj/redeterminations etc?

Twit_Head

Raquela wrote: »

I used to work for the police who had a similar policy as HMP, but they were fine with both DMPs and IVAs, in fact someone told me IVAs were set up specifically for police officers who would otherwise lose their jobs because of bankruptcy. No idea if that's true or not. But yes, your husband should talk to his HR department in confidence to find out what their policy is on DMPs.

My news - CCCS have closed my DMP for missing three payments :-(. I've been out of work since August, have literally no money, and things are feeling pretty dire. I have written to all my creditors to tell them I can't even afford token payments (as I'm on benefits my SOA is in deficit to £160 and that is just essentials and food. I've been managing to make it up by not putting aside money for the car tax and water bill, and the odd sale on amazon / ebay. but can't put this on my SOA).

It's all very depressing, as is being cooped up in the house all day because I can't afford to go anywhere. The car is technically my mums and she was going to give it to me at the end of this month, but I've told her I can't afford it, and that I think she should sell it. It will be hard without a car, but not impossible.

I have no idea what my creditors are going to say, I'm worried to say the least. But if they made me bankrupt I think it would be a dream come true, as that feels like my only option now, I started trying to pay these debts off about 10 years ago now. I just wish that going to university had actually helped me get a decent paying job, and that I had never tried to do my post graduate studies (which I couldn't afford to complete and whacked another huge debt on me).

Life would start feeling better if I could get a job, but no one seems to want me, despite a good CV. I just feel completely stuck in a rut, and don't really know how to pull myself out of it.

O lovey a big hug from me! :grouphug:
The sh*t has really hit the fan for you hasn't it? I SO feel for you. Part of the reason I'm on a DMP is because I supported my son after University. Brilliant degree, premier Uni - but then no work and no benefits because he'd never paid National Insurance.
It's a common fallacy in this country that graduates automatically and instantly rake in huge salaries - but you and I know different don't we?
Right, so now you're left with this unsustainable debt. Have you talked to the Citizens Advice? What help did you receive from CCCS when you couldn't meet your repayments? If you Mum is financially able could she just tide you over the rough bits?
If you believe bankruptcy is your only option, then investigate it thoroughly. But please, please don't be a victim. You say 'if they made me bankrupt' - as Pure Dead Dopey alway says 'knowledge is power.' I can imagine how dreadful you must feel at the moment but take advice, read the other boards so you can take control of your life again.
It ain't always gonna be like this kiddo - you've got a big, bright future ahead you.

'Twitty'

Twit_Head

grantalien wrote: »

Have redetermination hearing tomorrow for a CC debt with Nationwide of £3300 - offering £35 per month but they want £70...hopefully the judge will be reasonable and we shall go from there! plan for the worst hope for the worst.

any last minute tips appreciated

will report back tomorrow - is there a dedicated thread here for ccj/redeterminations etc?

Sorry don't know, don't know is the answer
However, from all I've read/learnt the court will always look fairly at your income, financial needs etc and judge accordingly - usually in your favour if you are honestly paying back the maximum that you can afford. It sounds like you really caught the rotten end of the stick with Nationwide.
Sleep well tonight and go kick *rse tomorrow!

'Twitty'

Loubylou2

Just been catching up on al the new posts.
Raquela I really feel for you and hope the outcome is best for you.
Grantalien I hope the redetermination hearing goes well for you. Dp you think these companies do this for the sadistic fun of it? It must cost them as much in fees to take you to court for what is a relatively small sum or am I way off on that?

We opened our new account with Santander which we have since heard are aawful. But have to say it all went pretty well with only a few probs with a couple of so's/dd's.

Millie monster I know what you mean about having to cut down on kids activities but we have been able to keep going with or 3 and their sports. It's taken a bit of juggling and they don't ask for extras but it can be done.

Love to everyoneXX