DMP Mutual Support Thread - Part 7

mikon

Ian

Thank you for replying to the Default question. I certainly will not be signing anymore Credit Agreements of that I am sure.

Talesin

Once on a DMP and it's up and running what's the best thing to do if I come into a lump sum of money? Pay it off my plan or stash it away for an emergency?

mikon

Talesin

If the lump sum covered the whole of the DMP then I would pay it off. If it only paid off a % then I would be looking to see what F & F were on offer and possibly paid a % off and stash a %

Thats my advice for what it is worth.

the_tooth_fairy

ianmak wrote: »

As far as I know you can only receive one per account, unless you sign another agreement after of course.

Hello everyone and Happy New Year!
Special welcome to our Newbies as well, I've been reading back through the posts, and it's interesting how the question of family involvement always comes up. It's a difficult one, isn't it, how much do people really want to know what's actually happening to you and your family? My experience of it has been that when I say I'm 'cutting back' most are ok, especially when I used to go a bit mad at Christmas, I think they were all secretly relieved!!
Ian, Firstly I like your idea of having a fund for the week, wouldn't that SO make you 'save up' for a wee bottle of something for the weekend?! We have received very many default notices, from my Sainsbury's Visa, and OH's BOS c/c. All the rest of the creditors, who came on board from the start with zero interest, haven't sent any at all. I am worried though, that even towards the end of our DMP that they will use any excuse to send more. As you know Sainsburys' Visa even refunded me some charges (unheard of) but they are completely ruthless!
Hope everyone is well, and a special thanks to Twitty, who's been a rock as usual!

ttf x

the_tooth_fairy

mikon wrote: »

Ian

Thank you for replying to the Default question. I certainly will not be signing anymore Credit Agreements of that I am sure.

Can I add, that thanks to Ians' advice I didn't sign the (many) credit agreements that Next sent, so have probably avoided re-papering the hall, stairs and landing, for now at least!

ianmak

Please can I add, again, please don't rely on my advice, and perhaps confirm it with an expert??

I'm still looking for confirmation on the default side of things.

the budget is going ok. I work in London and it's extremely hard not to spend money on brekkie and lunch, so having no cash card, and little money on me is working well. I'm also more likely to lose more weight through cutting down. I'm also cutting down on alcohol, so saving cash for a bottle hadn't entered my head until now...

chocolates

Hi everyone,ive just subscribed to this thread
Im really really struggling this month......pay day seems forever away!!! I wasn't able to make my DMP on the 1st as i was short and now have the money but paying it will leave me with £10 per week until pay day!!! How is everyone else managing???

ianmak

chocolates wrote: »

Hi everyone,ive just subscribed to this thread
Im really really struggling this month......pay day seems forever away!!! I wasn't able to make my DMP on the 1st as i was short and now have the money but paying it will leave me with £10 per week until pay day!!! How is everyone else managing???

Hi ya and welcome!

£10 a week left to do what with? A DMP should leave you with enough to survive without too much discomfort? So food and bills etc should all be accounted for.

sugar9

Hi chocs and welcome. All seem to be in the same boat this month. I've also had problems finding DMP money - but just about managed it. I am adamant that I'm going to start saving from this month onwards as we have our daughter's school prom in July and I am fed up being in this situation and am going to take action. Also had two birthdays this week including my nephews 18th. Anyway best of luck to you and hope you manage ok til payday.

Forgot to say have you been on your DMP long? We only started ours in October so didnt have much time to put aside any extras for emergencies or xmas so hoping this year will be better

grantalien

chocolates wrote: »

Hi everyone,ive just subscribed to this thread
Im really really struggling this month......pay day seems forever away!!! I wasn't able to make my DMP on the 1st as i was short and now have the money but paying it will leave me with £10 per week until pay day!!! How is everyone else managing???

umm you may need to re-visit your DMP as after food, DMP pmt and priority bills you should have enough left to "more than just survive" on. If your budget is calculated correctly then you can be creative with the left overs and live a not too bad existence - not much help I am sure but hopefully it will encourage you to re-visit things.