DMP Mutual Support Thread - Part 7

Hopelessly_Hopeful

stelly wrote: »

Another week. Hi everyone :wave:.

Well made my first payment to CCCS on friday. Had to do it at post office as DD wasn't set up in time and the post office charged me :cool: (haven't paid with a slip before so didn't know).

Lloyds TSB are driving me crazy.
I'm averaging 4 letters a day from them.
The way they do things make no sense to me at all.
Funnily enough we've had only one letter from Tesco r.e OH's credit card and none from Next since I phoned them.

I reckon Lloyds must have infinate amounts of paper.

I had a letter r.e my credit card and it says they are accepting the dmp and no interest or charges will be added = bonus.

Also had letters r.e my loans and it says they are accepting reduced payments but only for 6 months and it doesn't say anything about charges being stopped and says interest will increase because i'm not making minimum payments.

Now on the letter/statement for my overdraft it says nothing about the dmp. It basically says that i'm overdrawn (only because they keep adding charges) and they will be charging me £50+ every month for being overdrawn which is loads more than my payment to them from CCCS.

What do I do about this?

Do I send a letter for the loans and overdraft requesting they stop charges and interest?

I can't understand why they've done it on the credit card but not on anything else.

Surely it's going to become a vicious circle with the overdraft. Them charging me for being overdrawn which then makes me even more overdrawn which means even more charges.

Rant on a different subject - OH

I don't know what's going on in his head. He know's how tight things are (I moan enough about it) and yet still expects me to produce money from somewhere for this,that and the next thing.

Nice day outside and I'm yet again stressing. I hate money :rotfl:

Brilliant news that your first payment has gone. No looking back now! DMPs can take 3 -6 months to settle down. If you read back posts here you'll see that most preditors get on board when they see the DMP payments being made. As your payment only just gone to CCCS it will take a few weeks for the preditors to get the first one.

As for OH, would it help to consider sitting with the spreadsheet regularily with him. Suggest at least weekly until he is properly onboard with you! Could you ask him if he thinks budget achievable, where cutbacks could be made, what you need to plan for etc?

Hope that helps.

HHx

darwins_mum

Hopelessly_Hopeful wrote: »

Hi

Sorry to hear you are having a bad day. Well done on decision to stop drinking, hope you can do it as successfully as giving up smoking. Breaking a habit can cause mood swings which may not help the situation in the short term.

Sorry I can't recollect what are arrangements are (why temp etc) and your signature doesn't detail the situation. Are you able to summarise or post a SOA so we can help, make sure you properly have had LBM or make other suggestions or support.

HHx

arrangements were temporary for 6 months to see whether my circs improved. 6 months ago I was working full time via agency, now working part time on fixed term contract. taken a 50% paycut. better than jsa which was the other option.
will do a soa when I have the emotional and mental energy. feeling a little unsettled, all I can do is loll in bed this afternoon, which probably isnt helping my low mood.
DM

Hopelessly_Hopeful

Squirrel29 wrote: »

Hi all, I've not been around much but everything quiet on the DMP front. Most creditors accepted and stopped charges/interest. Except Barclaycard and Nationwide current account. Nationwide CC has though. I'm off work this week and ive not budget well to give myself extra spends to go out and do things, plus pay day a week away, but then again its nice to just chill at home! I put a £2.50 ew bet on the National and made £4.00! Not life changing sadly! I still feel ashamed I bet after the awful site of the poor dead horses. Anyway, off to enjoy sunshine in garden before weather changes later this week.

Pleased things are going in the right direction:T

HHx

Hopelessly_Hopeful

darwins_mum wrote: »

arrangements were temporary for 6 months to see whether my circs improved. 6 months ago I was working full time via agency, now working part time on fixed term contract. taken a 50% paycut. better than jsa which was the other option.
will do a soa when I have the emotional and mental energy. feeling a little unsettled, all I can do is loll in bed this afternoon, which probably isnt helping my low mood.
DM

I appreciate a SOA maybe painful but I do believe it will be the way forward and more productive than keeping our fingers crossed for you. Have known quite a few people say that only truly have LBM when they have digested a SOA.

Have CCCS said what they would need to take you on? All feels a bit strange if preditors have started to come on board. Have you contacted Payplan or Debtline to see if they can advise. IS DMP still the way forward or as you were considering you may move anyway do you need to consider IVA or BR options? Just a thought.

HHx

Hopelessly_Hopeful

scottygees wrote: »

Am feeling a bit low regarding my DMP. Everything seems to be going ok and then suddenly a DCA letter regarding my smallest debt! with Eon energy. Gave CCCS their details and then they phoned me the next day, just told them I was on a DMP and that CCCS will contact them. The guy who phoned said they would put a hold on the account until they hear from CCCS.

Its just that sometimes reading threads on here it casts a doubt over your own situation and you start thinking the worst (court action, charging orders etc).

On top of this my blood pressure has gone through the roof and am off to the doctors tomorrow to try and ge it sorted and to add insult to injury my wifes mother has now been diagnosed with cancer and lives overseas so need to find money for a visit over there.

Sorry to hear about your wife's Mother.

Was the EON stuff already in your DMP? Appreciate everyone is different but many see a DCA as a positive thing as usually results in interest lowering or freezing.

Hope you feel brighter soon.

HHx

darwins_mum

Hopelessly_Hopeful wrote: »

I appreciate a SOA maybe painful but I do believe it will be the way forward and more productive than keeping our fingers crossed for you. Have known quite a few people say that only truly have LBM when they have digested a SOA.

Have CCCS said what they would need to take you on? All feels a bit strange if preditors have started to come on board. Have you contacted Payplan or Debtline to see if they can advise. IS DMP still the way forward or as you were considering you may move anyway do you need to consider IVA or BR options? Just a thought.

HHx

cccs will take me on board into a formal dmp if I am in a position to pay more than £1 a month to each creditor. considering IVA/Bankruptcy is the next step I guess. I had put both to the back of my mind, but cant see any way around it.
will do soa shortly, have put it off recently as I know that the sums just don't add up and probably never did :eek:

Hopelessly_Hopeful

darwins_mum wrote: »

cccs will take me on board into a formal dmp if I am in a position to pay more than £1 a month to each creditor. considering IVA/Bankruptcy is the next step I guess. I had put both to the back of my mind, but cant see any way around it.
will do soa shortly, have put it off recently as I know that the sums just don't add up and probably never did :eek:

That's just exactly the point I'm making DM. We're all here to help each other, not to judge. I think many of us would say that before a true LBM we buried our heads and hoped for the best. Getting a true handle and proper planning with a realistic budget is the way forward. As Martin would say there is an answer to every situation, you just need to make sure you really know what the situation is. I so wish I hadn't shied away from it for so long. It was sooooo liberating to do it though, although things got worse the month after I have seen an improvement every month for the last 10.

You can do this, you came on in the first place, you've changed work situation and stopped smoking. All big leaps. Now you've just got to decide what you want your future to look like, anything is possible.

HHx

darwins_mum

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 691
Partners monthly income after tax....... 0
Benefits................................ 301
Other income............................ 0
Total monthly income.................... 992

Monthly Expense Details
Mortgage................................ 200
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 84
Electricity............................. 27
Gas..................................... 62
Oil..................................... 0
Water rates............................. 24
Telephone (land line)................... 0
Mobile phone............................ 18
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 30
Groceries etc. ......................... 280
Clothing................................ 50
Petrol/diesel........................... 180
Road tax................................ 15
Car Insurance........................... 52
Car maintenance (including MOT)......... 20
Car parking............................. 5
Other travel............................ 5
Childcare/nursery....................... 0
Other child related expenses............ 30
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 28
Contents insurance...................... 0
Life assurance ......................... 20
Other insurance......................... 27
Presents (birthday, christmas etc)...... 30
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1209


Assets
Cash.................................... 0
House value (Gross)..................... 110
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 1610


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 97000....(200)......0
Total secured & HP debts...... 97000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
overdraft......................2000......1.........0
overdraft......................500.......1.........0
loan...........................120000....1.........0
Total unsecured debts..........122500....3.........-


Monthly Budget Summary
Total monthly income.................... 992
Expenses (including HP & secured debts). 1,209
Available for debt repayments........... -217
Monthly UNsecured debt repayments....... 3
Amount short for making debt repayments. -220

Personal Balance Sheet Summary
Total assets (things you own)........... 1,610
Total HP & Secured debt................. -97,000
Total Unsecured debt.................... -122,500
Net Assets.............................. -217,890

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

Hopelessly_Hopeful

darwins_mum wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 1 How old?
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 691
Partners monthly income after tax....... 0
Benefits................................ 301 Have you checked you are claiming for everything you can?
Other income............................ 0 Does your ex pay maint?
Total monthly income.................... 992

Monthly Expense Details
Mortgage................................ 200 How long is this for? Have you spoke to mortgage people, can you extend term, go interest only or take a payment holiday?
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 84
Electricity............................. 27
Gas..................................... 62 Could you get this down a little? A degree makes a difference
Oil..................................... 0
Water rates............................. 24
Telephone (land line)................... 0
Mobile phone............................ 18
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 30 Should be able to get a better deal with this. I pay £5
Groceries etc. ......................... 280 Some would say this is too high, how old is your child? Check out the OS board. Do you menu plan and batch freeze?
Clothing................................ 50 Can you get this down, charity shops etc?
Petrol/diesel........................... 180 ouch
Road tax................................ 15
Car Insurance........................... 52
Car maintenance (including MOT)......... 20
Car parking............................. 5
Other travel............................ 5
Childcare/nursery....................... 0
Other child related expenses............ 30 What are these?
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 28
Contents insurance...................... 0
Life assurance ......................... 20
Other insurance......................... 27 What is this?
Presents (birthday, christmas etc)...... 30 Can you discuss with people you need to withdraw for a while. Can do other things like cook a meal/cake
Haircuts................................ 10
Entertainment........................... 0 Even allowed on a DMP even if just small £10
Holiday................................. 0
Emergency fund.......................... 0 This needs to be in
Total monthly expenses.................. 1209 £217 short before you consider debts

Assets
Cash.................................... 0
House value (Gross)..................... 110
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 1610


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 97000....(200)......0
Total secured & HP debts...... 97000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
overdraft......................2000......1.........0 What rate?
overdraft......................500.......1.........0 What rate?
loan...........................120000....1.........0What rate? Is there an extra zero in here? How much do you pay each month?
Total unsecured debts..........122500....3.........-


Monthly Budget Summary
Total monthly income.................... 992
Expenses (including HP & secured debts). 1,209
Available for debt repayments........... -217
Monthly UNsecured debt repayments....... 3
Amount short for making debt repayments. -220

Personal Balance Sheet Summary
Total assets (things you own)........... 1,610
Total HP & Secured debt................. -97,000
Total Unsecured debt.................... -122,500
Net Assets.............................. -217,890

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

Hi DM

Well done on posting. You may want to post as a seperate thread on DFW too as people love to [STRIKE]stalk[/STRIKE] 'help'

Have included my thoughts above, should be room for manouvre on a number of items.

One of the main issues as you say is that even if you had no debts your outgoings are £217 short. What did CCCS say about the budget? Have you included everything? Is this best guess or have you kept a spending log?

If mortgage is only £200 you're unlikely to be able to rent cheaper surely?

Do you really need the car? Is it a need or a luxury given you have more time on your hands with working PT? According to your SOA car costs you £272 a month without factoring if the loan was for this.

Hope that helps.

HHx

darwins_mum

Hopelessly_Hopeful wrote: »

Hi DM

Well done on posting. You may want to post as a seperate thread on DFW too as people love to [STRIKE]stalk[/STRIKE] 'help'

Have included my thoughts above, should be room for manouvre on a number of items.

One of the main issues as you say is that even if you had no debts your outgoings are £217 short. What did CCCS say about the budget? Have you included everything? Is this best guess or have you kept a spending log?

If mortgage is only £200 you're unlikely to be able to rent cheaper surely?

Do you really need the car? Is it a need or a luxury given you have more time on your hands with working PT? According to your SOA car costs you £272 a month without factoring if the loan was for this.

Hope that helps.

HHx

I posted last year on dfw and was shot down in flames, with "should" statements, such as I should have savings, should be making capital repayments on my mortgage etc. after 11 years of being on my own and keeping a roof over 2 childrens heads I had just come to the end of my tether.
my DS2 is nearly 15, and spends half the week here and half the week with dad. he has never paid any maintenance, nor I to him. His earnings are 2.5x mine.
I need my car for work, as use it for visiting and am eligible for a flat fee of £70 (which i havent received for months).

will keep a serious spending log this month and try and make savings where I can.