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DMP Mutual Support Thread - Part 7
Comments
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'twittyisms'
Ho-ho-ho
So here is a quick update of DMP stuff here in 'Twitterland' which may help all new to this thread.
2 years ago since I had my lightbulb moment (:eek:) and now nearly 21 months into my DMP; can't believe how quickly the time has passed.
The phone doesn't ring, the postman doesn't call, and the creditors keep taking the money.
Of my 3 creditors - just one has defaulted me (early on) and only one is still charging interest (at a low rate.) The DMP justs ticks quietly away in the background, but each month it is a joy to check my CCCS statement and check progress.
Still a long way to go before I reach my DFD, because of low income/small repayments but it really such a boost when you eventually see the total dropping.
I am grateful I've had such a relatively smooth ride, but even so I think everyone has 'black' moments when everything seems such an uphill struggle. There are always months when the money doesn't stretch, and the car/washing machine/boiler etc breaks down.
So I'm forever grateful to all on this thread for support, understanding and friendship.
A DMP is not an opt-out option - it takes dedication,strict budgeting and sometimes a wing and prayer to work - but it was the best way forward for me.
So onwards and upwards for us all - may our DFD dates be sooner rather than later
'Twitty'0 -
Twitty, thanks for your words of encouragement x0
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how do you guys cope with the 'contingency' things - the stuff you only buy once a year like car tax or Christmas? Do you save it in another account?Please forgive me if my comments seem abrupt or my questions have obvious answers, I have a mental health condition which affects my ability to see things as others might.0
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how do you guys cope with the 'contingency' things - the stuff you only buy once a year like car tax or Christmas? Do you save it in another account?
Car Tax - I keep a tin (in a cunning disguise) in the kitchen cupboard. Every month when I get paid, I put the relevant amount in there - and do NOT touch it whatever happens!
Christmas - Downsize it! Buy cards, paper etc in January sales. If you spot a bargain (whatever the time of year) that would work for someone, buy it and squirrel it away in your 'present box.' Recycle gifts, trawl car boot sales/charity shops, make your own etc. Don't be pressurised into spending what you haven't got - it's one day. And can you remember all of your presents from last year??? The smallest, silliest gifts given with love are often the best!
Having a separate account can be useful. It can be an untouchable 'safe' place to pay your emergency allowance each month,and any overtime, extra funds you accrue (just wish I had some)
'Twitty'0 -
how do you guys cope with the 'contingency' things - the stuff you only buy once a year like car tax or Christmas? Do you save it in another account?
As Twitty says. Save!
I'll admit I'm hopeless at it, but I am trying, and at the end of the day, we get there.
It may help to factor the costs in some way into your budget. Your car tax etc should already be in there.DMP mutual support thread No: 2430 -
how do you guys cope with the 'contingency' things - the stuff you only buy once a year like car tax or Christmas? Do you save it in another account?
Hi Raksha! Can i include Twittys' advice firstly, because she has it spot on.
May I also add personal experience of Christmas? We have a big extended family, lots of nieces and nephews,etc. Many years ago we decided not to buy the parents presents, only the kids. However, during the DMP,things reached critical level, so we have 'set' new rules (which I think everyone was happy with) where we buy 'family presents', maybe a new Wii game, or DVD's, that everyone can share. Thanks to advice here, we have so far coped with 2 Christmases, and I will never go into a shop on 23rd Dec in a flap again!
ttf:j:hello::hello::jDMP mutual support thread member 3480 -
As Twitty says. Save!
I'll admit I'm hopeless at it, but I am trying, and at the end of the day, we get there.
It may help to factor the costs in some way into your budget. Your car tax etc should already be in there.
Despite my cunning plans, I mess it up too! We only tax now for 6 months, even though it makes it more expensive. But what can you do?
You just do (as I call it) THE BEST THERE IS TODAY.
It's a coping mechanism but there is no point in making yourself ill over this. Personally I've made myself pretty poorly over all this at times, but just think about all the people who become invisible and don't pay anything. Lucky beggars just get their debt 'written off'.
ttf:j:hello::hello::jDMP mutual support thread member 3480 -
Hi Guys I just thought I would let you all know I have read every post on this forum and I have just rec the info from cccs. You guys are great, I know it is a long road but I have started and I am not looking back. Heres to the next 7 years and 6 months. Cheers guys you have helped when I thought my world had fallen to apart:j
Welcome! That must have been quite a read!
Have you considered doing a thesis on a Russian novel? There would be a lot less to take in, I'm sure!
Keep posting, and let us know how you get on, the world gets a lot better here, honest.:T
ttf:j:hello::hello::jDMP mutual support thread member 3480 -
I too have sat and read all of this thread and as you all seem so nice and experienced I wondered if you could put my mind at rest?
I have finally faced up to the enormity of my debts and that I cannot pay them off which I have been trying to do since 2007 - they just keep getting bigger.
Once I have organised a new bank account and moved my salary and Direct Debits I will be setting up a DMP hopefully on 1st May. I am absolutely scared stiff, mostly of the following happening:-
- creditors ringing me at work
- Debt Collectors being sent to my front door
- constant telephone calls
- no one accepting my reduced payments and stopping interest
I am also really worried as I have only just taken out a credit card with Santander which is 0% for 15 months, but I have to include it in the plan as I have to deal with the whole situation. When I applied for it my head was firmly buried in the sand, I had no intention to do a DMP at that time but they may think I have been incredibly deceitful
I am going through CCCS for my DMP - will I still have to deal with my creditors or will they deal with it for me and what happens after I send my payment on 1st May?
Tonight I have cut up every single credit card and I have a debit card in my purse and that it is :eek: for the first time in 15 years :eek::eek: My Husband cannot understand why I am not relieved but I have convinced myself that my DMP payment will not be accepted - it will be £550 per month instead of £890 regular payments. My creditors are Santander, Northern Rock, Mint, Tesco and Barclaycard. I have been with the last 4 for many many years.
I am also really worried they might apply for CCJ's etc as if they do I would rather just struggle on for years as it will affect my job.
My Husband was going to do a joint DMP with me but this would have drained our income completely. Fortunately he has been able to cash in a policy which will pay nearly half the debt in his name and his father is giving him some money to pay the majority of the rest off. This means we have his income to live off and so theoretically we will be ok and we never intend to touch credit again.
I just desperately need some reassurance that I am doing the right thing and that I will not be hung, drawn and quartered by my creditors.....0 -
Hiya Trouble and welcome.
I'm never going to say it's the right thing for you, only you can decide that.
However I'll say it's the best thing and only thing I could have done in the circumstances.
Yes it is a bit nervewracking at the start, however I had lots of phonecalls, that I answered. The odd one at work, which I told them not to do after a short time. And they didn't. Others may tell you otherwise though!
No-one turned up on my doorstep.
Everyone accepted my payments, though my two overdrafts took some time to stop charges and interest being added.
I'm riddled with defaults, but that makes no difference to me as I never want credit again!
I don't want to bring doom and gloom, but it's a hard(ish) road ahead, but think of the alternatives (ones that don't involve getting riddled with further debt!). That's the way I saw it, as there was none for me. I hate credit now and I never want it again.
Good luck, and stick around, we're not a bad bunch here.DMP mutual support thread No: 2430
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