DMP Mutual Support Thread - Part 7

toots1607

dmb wrote: »

I find it varies from month to month. I really struggled in January (after the dreaded Christmas) even using a M and S gift card to buy food and am also struggling this month. Next month is car tax, MOT etc so will probably be Spring before it feels any easier. Some months I find it okay but I still find it difficult to put money away for an emergency fund (hence the problem at Christmas). I'm really going to try and do this this year. I've become much better at budgeting for food and another thing that has helped me is having an excel spreadsheet where I put down all my direct debits and everything I spend. It's amazing where the money can go.
Good luck and if things get really difficult then phone up CCCS or Payplan and ask them to review your budget.

Hi Thanks again for all your help guys,I think that I need to do an excel spreadsheet any ideas where to get this from, also found out OH lost some money at the weekend (not helpful) so thats were my bad days are coming from also mortgage week so defo not a lot of cash to spare but on the lighter note all bills, food etc paid for.

Cheers again :)

debtfreewannabe321

thank you so much for replying everyone i will wait to send out a letter to santander then (where hubbys wages go) as i do not want them taking the money tomorrow (payday) or else i will have nothing to live on for the month. I will also send the letters out tomorrow and send the token payments when each one is nearly due (this way i can use my child benefit each week for this) thanks so much...I will let you know how i get on

ianmak

toots1607 wrote: »

Hi Thanks again for all your help guys,I think that I need to do an excel spreadsheet any ideas where to get this from, also found out OH lost some money at the weekend (not helpful) so thats were my bad days are coming from also mortgage week so defo not a lot of cash to spare but on the lighter note all bills, food etc paid for.

Cheers again :)

Not being funny, but if all bills and food is paid for, what is left over? Do you still need petrol and stuff to pay for?

One of the hardest things I've found is being left with 20 quid to last me the month, but then in theory, I've nothing left to pay out for, and I can put that £20 towards savings.

B17c

ianmak wrote: »

The bank will close the account anyway. If your loan is with the same bank, then they will offset and take the money anyway, regardless of it taking it over your OD, and adding charges etc.

Best hope they accept and stop adding charges quickly!

Thanks for replying.
What does offset mean? Though surely if there is no money going into the account, and they've recieved a letter from myself, AND been contacted by the CCCS, they cant take anything from my account as theres nothing there to take!

Does that mean they'll start chasing me for that also?

How could i be so STUPID to let it get to this stage... i've completely messed my life and my future up.

ianmak

B17c wrote: »

Thanks for replying.
What does offset mean? Though surely if there is no money going into the account, and they've recieved a letter from myself, AND been contacted by the CCCS, they cant take anything from my account as theres nothing there to take!

Does that mean they'll start chasing me for that also?

How could i be so STUPID to let it get to this stage... i've completely messed my life and my future up.

Do you still have an overdraft with the account? If so then that'll need to be added to the DMP.

In theory they will just take money from the account regardless, whether there's any money in there or not.

Twit_Head

the_tooth_fairy wrote: »

Ps. I really miss our Twitty. I hope she is OK and coping with everything.

Thanks TF xxx
Just popped in today. Had to be a post mortem, so the funeral was just the day before yesterday.
Still very fragile. Of all the folk in your life, nobody loves you like your Mum. :heartpuls
Miss her so much already, but one day I will be debt free and live the life she did - of frugality in everyday living but an endless open heart and generosity to her loved ones.

'Twitty'

Raksha

Can anyone tell me what I should do? With HSBC - account o/d and maxed out (£2.5K) O/D is on the DMP - but I've just checked today and they will be adding £180 worth of charges for going over the overdraft between mid Dec and mid Jan. There is also a personal loan linked to this account, I can't cancel the S/O, so inevitably when they try and take the money we will rack up more charges....

Twit_Head

toots1607 wrote: »

Hi Thanks again for all your help guys,I think that I need to do an excel spreadsheet any ideas where to get this from, also found out OH lost some money at the weekend (not helpful) so thats were my bad days are coming from also mortgage week so defo not a lot of cash to spare but on the lighter note all bills, food etc paid for.

Cheers again :)

Hi toots
An Excel spread spreadsheet is not tooooo daunting to set up. If you can manage to post a message here then you can do it!
I use one. Every month when I get paid I can check incomings/outgoings (no council tax this month - yohoo!) to check how the month might pan out in advance.
Mine has just 3 columns 'Item' 'Cost' and 'Amount remaining'
Add your total remaining (if any ) in bank plus wages and then subtract all your other outgoings to get see exactly where you stand.
Won't post step by step instructions here.All dependant on your version of Office/computer literacy etc. Suggest you just use a search engine. Will bring up loads of clear instructions on how to set up a simple subtraction spreadsheet. (Also some sites I think that offer free templates but I prefer my own simple version) And don't forget the local library for easy 'how to' guides.
Whatever way you go about it, you're heading the right way - getting those debts down
Hello to you and all new starters - may this be a fresh and happy new year for you all.

'Twitty'

ianmak

Raksha wrote: »

Can anyone tell me what I should do? With HSBC - account o/d and maxed out (£2.5K) O/D is on the DMP - but I've just checked today and they will be adding £180 worth of charges for going over the overdraft between mid Dec and mid Jan. There is also a personal loan linked to this account, I can't cancel the S/O, so inevitably when they try and take the money we will rack up more charges....

Personally I see that as being par for the course. This is why your debt outstanding will go up before going down at the start.

All you can do is request that they stop interest and charges, due to the problems that you are having.

Hales82

Well there's no going back after tomorrow for us.

We get paid tomorrow (into our old account) so will be quickly withdrawing our wages and paying it into our new account. We've cancelled all our DD's for our debt and on Tuesday will be sending the letters and the token payments.

I feel quite sad tonight that it's come to this. Me and my husband both still think it's 100% the right road for us but after a couple of weeks of talking/working it out etc it seems weird that the ball starts rolling tomorrow. Will be posting our signed DMP agreement to the CCCS on Tuesday too, just need to get our statements together.

Feeling very woe is me and a bit like I've lost control of it all. From tomorrow we will be at the mercy of our creditors :-(

Sorry to be so glum. I'm guessing this process is going to be a roller coaster of emotions.