DMP Mutual Support Thread - Part 7

copperboom_2

Hello everyone!

I hope you've all had a nice start to the week.

I've still not decided which company to go with between Payplan and CCCS, but have requested information from both - I suppose I'll end up going with whichever one can get me set up the soonest!

I'm feeling very positive today, looking at the sample budget on the CCCS website has given me hope. It might not be much to live on but it's a lot more than I've had over the last ten months I've been living on Jobseeker's Allowance

ianmak

Twit_Head wrote: »

Well done you for having a "cunning plan" (as per the very vintage comedy programme 'Allo 'Allo!)
Therefore "I vill say this only once":) - I don't think it really matters how you keep track - as long as you do! Whatever system works for you is the best one.
I have an Excel spreadsheet. Get paid at the end of the month, then all the essentials - council tax, utilities, insurances, CCCS etc.etc are set up to come out on the 1st on D/D. So every pay day it's a case inputting wage received, and adjusting the monthly D/D amounts (keep a note of all those on a calender) to establish exactly how much is left to live on. Then a quick mental calculation to split into petrol/food etc allowance to have an outline of how the month ahead is looking. And then (getting tired just reading this! ) I keep a record in an old-fashioned cash book so every cash withdrawal/penny is accounted for.This way I know exactly what actually is in the account and not just a projected balance.
Apologies, it all sounds very complicated but becomes an ingrained habit.
As you say, however you keep track , all of this is boring, and no fun at all
It's also extremely hard work if you are new to budgeting. An alien concept;quite frightening to realise where you money is going and how quickly, when you are used to relying on the C/C to back you up.
As ukjs says you find a way of coping, and it becomes a way of life. And yes a better one - you might not have much, but at least you are now in control

'Twitty'

After three years on my DMP I've finally just started doing the speadsheet thing this month, and it's going ok, feel a lot happier with my lot (having starting the month very badly)...

Toffee_Penny

Hi Guys, remember me?

Have lurked for a long time reading this thread and finally plucked up the courage to come back. I just wanted to say a big 'WELL DONE' to Ian, Twitty and TTF for keeping this thread alive with their continued support to all who need it on this thread. :cool:

I found this old post of mine from 2008, god that seems so long ago but might be of some comfort to the newbies on here.......

..................................................
My sorry debt story began when I passed my driving test 11 years ago and we wanted to buy a car, not earning much between us we went to the bank with my uncle and was turned down for a small loan. My uncle agreed to take out a loan on our behalf and the lady told my partner to apply for a credit card as this would be a good way to build up a credit history. OH got a credit card and it was great at first going shopping on Saturdays spending a few hundred just like that, on nothing special, a few items from sports shops, clothes for the kids, nothing special just stuff we didn't need just wanted.

The credit cards kept on flowing and new applications were filled in, swapping one balance to the other until we were offered a loan. Brill!! We could get rid of the credit card debt and have just one monthly payment, only it wasn't brill cause as soon as the balances were zero, we spent again and again until, yep you've guessed it a loan AND credit cards.

I wouldn't say we were in denial as we had manageable debt, we could afford the payments, we could afford a few nice holidays and nice clothes even carpets for every room throughout our new house when we moved in. It was great no worries jobs were ok and the payments weren't that bad we didn't worry because the debt seemed ok to us, just a couple of thousand, probably less than 20k.

Whenever the debt on the credit card got too big we just topped up an existing loan or applied for a new one, it was simple and easy, far too easy! Whenever a paymnet was made to creditors we had letters like 'Congratulations your credit limit has increased' everyone threw money at us and like daft fools we kept spending it. We could still afford the payments so whatever, we just didn't care! If I overspent on food shopping, my overdraft would see me through the month, if I wanted clothes I could order them from catalogues and not pay until several months after. If we wanted money in the bank just for having a plus balance we would write a cheque out to ourselves and go shopping. We wanted for nothing.

I discovered my OH had lost over £1000 in one month on a gambling site one day and things just came to a head, words were spoken and we decided to have a break. It went on like this for months blaming everything and anything on each other rather than wake up smell the coffee and realise we had a problem and needed help but we didn't know what to do or who to turn to, we were in the brown stuff, really deep in it, his family thought one of us had cheated as he was always being kicked out and that added to our worries as no one knew of the financial mess we were in. The relationship was fiery, every converstaion was about the uncertainty of his work and worrying of what to do. OH is self employed and work this summer just dried up and slowed down. He even suggested doing a runner! The kids didn't know what was going on and the pressure of trying to find minimum payments of over £1000 a month was stiffling us. It was either make or break for us.

I saw Martin on GMTV one day and saw a link to this site, it was on here when I was directed to CCCS website, I put in my details and well..... here I am, on a joint DMP until 2023!! with a combined grand total of debt for f, f, f, (still hard to say) FIFTY thousand pounds!!!!!!! :eek: We haven't spent that much alot of it is added interest, charges, ppi etc over the years, you lot know how it works

Are we ashamed we spent the money? YES

Do we wish we could turn the clock back? YES


But one step at a time, I can't wait for the day we get rid of credit forever, we will be debt free one day, we are learning a very dear lesson and having to budget for the first time in a very long time; no overdrafts to sort out this mess now. If we can't afford it we can't have it but you know what I feel so much better knowing whatever I have in my purse or bank at the end of the month when the direct debits have been sorted is mine, all mine and thats the best feeling when you have woke up to the fact just how much you relied on credit before.

I will get there just like all of you but it took us a few years to build the debt up it will take a few years to get out of it but one day just one day I will get there :rolleyes: we all will xxx

Now I am stuck in a rut of eating, sleeping debt busting ways and challenges thanks to this site. Some days I feel like screaming down the phone to creditors other days I feel like hiding away especially at work when people talk about the credit crunch and the 'silly people' who are in debt and I sit there and think 'if only you knew, if only you knew' I think this is what happens after the LBM and starting out on a DMP, a rollercoaster of emotions thats what it is.
................................................


Fast forward from 2008, 50k worth of debt and a long debt free date of 2023 to today; debt now stands at £26k, debt free date 2016! Slowly slowly wins the race guys. I still have the odd day of feeling down about being in debt just because having a certain amount of money left and not being able to do everything you want makes you frustrated. But hang in there it does get better ;)x

ianmak

Twit_Head wrote: »

A DMP is not a bundle of fun - it's difficult living to a strict budget if you're not used to it. However, your incomings/outgoings will be looked at and you will have a realistic amount to live on. The peace of mind, knowing you are paying back what you owe, but still having money to live on is priceless.
Often there is not too much 'fault' for being in this situation. Life has a way of dealing you a bad hand sometimes.
Maybe speak to CCCS again if you have further questions/doubts? And re-visit here. We all try to help and support each other when we can.
Hope this helps you a little

'Twitty'

See the DMP for me has changed my life round for the better.

When I was at my worst I was a beer swilling, takeaway scoffing, overweight, miserable and depressed toerag. And in a lot of debt of course with nothing to show for it.

Three years on I'm still beer swilling a little, but I've lost two stone, am a lot happier, appreciate life and money and family more. Also getting rid of my car made a tremendous difference as it was an unnecessary expense, and I walk everywhere I can now, it's a lot more healthy too!

ianmak

Toffee_Penny wrote: »

Hi Guys, remember me?

Have lurked for a long time reading this thread and finally plucked up the courage to come back. I just wanted to say a big 'WELL DONE' to Ian, Twitty and TTF for keeping this thread alive with their continued support to all who need it on this thread. :cool:

I found this old post of mine from 2008, god that seems so long ago but might be of some comfort to the newbies on here.......

..................................................
My sorry debt story began when I passed my driving test 11 years ago and we wanted to buy a car, not earning much between us we went to the bank with my uncle and was turned down for a small loan. My uncle agreed to take out a loan on our behalf and the lady told my partner to apply for a credit card as this would be a good way to build up a credit history. OH got a credit card and it was great at first going shopping on Saturdays spending a few hundred just like that, on nothing special, a few items from sports shops, clothes for the kids, nothing special just stuff we didn't need just wanted.

The credit cards kept on flowing and new applications were filled in, swapping one balance to the other until we were offered a loan. Brill!! We could get rid of the credit card debt and have just one monthly payment, only it wasn't brill cause as soon as the balances were zero, we spent again and again until, yep you've guessed it a loan AND credit cards.

I wouldn't say we were in denial as we had manageable debt, we could afford the payments, we could afford a few nice holidays and nice clothes even carpets for every room throughout our new house when we moved in. It was great no worries jobs were ok and the payments weren't that bad we didn't worry because the debt seemed ok to us, just a couple of thousand, probably less than 20k.

Whenever the debt on the credit card got too big we just topped up an existing loan or applied for a new one, it was simple and easy, far too easy! Whenever a paymnet was made to creditors we had letters like 'Congratulations your credit limit has increased' everyone threw money at us and like daft fools we kept spending it. We could still afford the payments so whatever, we just didn't care! If I overspent on food shopping, my overdraft would see me through the month, if I wanted clothes I could order them from catalogues and not pay until several months after. If we wanted money in the bank just for having a plus balance we would write a cheque out to ourselves and go shopping. We wanted for nothing.

I discovered my OH had lost over £1000 in one month on a gambling site one day and things just came to a head, words were spoken and we decided to have a break. It went on like this for months blaming everything and anything on each other rather than wake up smell the coffee and realise we had a problem and needed help but we didn't know what to do or who to turn to, we were in the brown stuff, really deep in it, his family thought one of us had cheated as he was always being kicked out and that added to our worries as no one knew of the financial mess we were in. The relationship was fiery, every converstaion was about the uncertainty of his work and worrying of what to do. OH is self employed and work this summer just dried up and slowed down. He even suggested doing a runner! The kids didn't know what was going on and the pressure of trying to find minimum payments of over £1000 a month was stiffling us. It was either make or break for us.

I saw Martin on GMTV one day and saw a link to this site, it was on here when I was directed to CCCS website, I put in my details and well..... here I am, on a joint DMP until 2023!! with a combined grand total of debt for f, f, f, (still hard to say) FIFTY thousand pounds!!!!!!! :eek: We haven't spent that much alot of it is added interest, charges, ppi etc over the years, you lot know how it works

Are we ashamed we spent the money? YES

Do we wish we could turn the clock back? YES


But one step at a time, I can't wait for the day we get rid of credit forever, we will be debt free one day, we are learning a very dear lesson and having to budget for the first time in a very long time; no overdrafts to sort out this mess now. If we can't afford it we can't have it but you know what I feel so much better knowing whatever I have in my purse or bank at the end of the month when the direct debits have been sorted is mine, all mine and thats the best feeling when you have woke up to the fact just how much you relied on credit before.

I will get there just like all of you but it took us a few years to build the debt up it will take a few years to get out of it but one day just one day I will get there :rolleyes: we all will xxx

Now I am stuck in a rut of eating, sleeping debt busting ways and challenges thanks to this site. Some days I feel like screaming down the phone to creditors other days I feel like hiding away especially at work when people talk about the credit crunch and the 'silly people' who are in debt and I sit there and think 'if only you knew, if only you knew' I think this is what happens after the LBM and starting out on a DMP, a rollercoaster of emotions thats what it is.
................................................


Fast forward from 2008, 50k worth of debt and a long debt free date of 2023 to today; debt now stands at £26k, debt free date 2016! Slowly slowly wins the race guys. I still have the odd day of feeling down about being in debt just because having a certain amount of money left and not being able to do everything you want makes you frustrated. But hang in there it does get better ;)x

Hey ya TP, how ya doing, where ya been???

CommitedToChange

Evening all :wave:

Just thought I'd pop on and say hi to the newbies and oldbies

Well I sorted out my car tax - got it down by £200 but it's still ridiculously more than last year :mad: I have spoke to CCCS about my budget as its so tight there really is no room for this and have reduced my food budget for 3 months - after this I finish paying back HMRC and can increase my food budget as well as my debt payment :T They were really nice and helpful and I would definitely say to anyone having problems or worries just to call them (assuming you're with them of course).

I chose to reduce my food budget as I've only been on my DMP for a couple of months - creditors have been mainly nice and I don't wanna tick them off by reducing it further - even for a short period of time. I can manage quite happily on the reduced amount as I have a nice stock cupboard and I am getting my shopping thrills from food bargains now :rotfl:.

Another thing I've discovered is that it's amazing how many of my friends have / or have had money problems in the past. One friend who I decided to open up to admitted he'd almost gone bankrupt several years ago - only a good job had saved him. Admitting to friends your on a DMP might feel horrible - but its lovely to find out who understands and won't give you stick for not going out every week. To understanding friends :beer: (both here and IRL)

bcfc84

Hi,

I finally bit the bullet yesterday and filled out the CCCS debt remedy tool which told me to go on a DMP paying £709 each month and I will be debt free in c.2 years 9

I am so glad I finally got my head out of the sand and can't wait to get this set up and start clearing ALL my debts, but I have a couple of questions first, so please help if you can....

1) I currently pay soem of my creditors on a weekly basis as I get paid weekly, some of these are payment plans I have already set up(agreements though are too high currently with my creditors) and some creditors are just not getting paid at the moment. In the interim until the DMP is set up what do I do? Continue to pay only some of them at higher rates or make smaller payments to all of them?

2) I was thinking of taking Friday off work to be able to get all this sorted, shall I ring them on Friday and notify them I am going onto a DMP and that I want to make token payments until the DMP is set up?

3) How long generally do the DMPs take to set up? Weeks ? Months?

4) Am I going to be inundated with calls and visits to my house? I am more worried about debt collectors knocking at my door, is there any way of avoiding this?

5) I currently board with my friend in the house he has mortgaged and pay a paltry £50 per week to live there (this includes my half of the bills) but he has been such a great friend to me since I split with my wife and I don't want to lose his friendship over this and haven't mentioned this to him yet. My question is will this have any affect on his credit rating/ ability to get new credit? We are not financially linked in any way other than I am on the electoral roll at his house.

I am so happy to be doing this but just want to make sure I am going into it with all the facts clear in my head before I do.

Thanks in advance

BCFC84

CommitedToChange

bcfc84 wrote: »

Hi,

I finally bit the bullet yesterday and filled out the CCCS debt remedy tool which told me to go on a DMP paying £709 each month and I will be debt free in c.2 years 9

I am so glad I finally got my head out of the sand and can't wait to get this set up and start clearing ALL my debts, but I have a couple of questions first, so please help if you can....

1) I currently pay some of my creditors on a weekly basis as I get paid weekly, some of these are payment plans I have already set up(agreements though are too high currently with my creditors) and some creditors are just not getting paid at the moment. In the interim until the DMP is set up what do I do? Continue to pay only some of them at higher rates or make smaller payments to all of them? I would pay each one a small token payment until the DMP is set up - send a letter with the payment advising them that you are in contact with CCCS and give them permission to talk to CCCS about your debts -DO NOT SIGN THE LETTER - from now on do not sign anything - print it or use a special electronic signature (its here somewhere if you search for it)

2) I was thinking of taking Friday off work to be able to get all this sorted, shall I ring them on Friday and notify them I am going onto a DMP and that I want to make token payments until the DMP is set up? You can ring them or just send the letter its entirely up to you - oh send them recorded delivery so you have proof of the letter. Some companies will be nice others nasty - no way to figure it out I'm afraid.

3) How long generally do the DMPs take to set up? Weeks ? Months? Mine took about a month and I'm with CCCS - talked to them in Feb and made my first payment in March, its actually pretty quick once you start - though the letter and phone calls may take longer to stop / get companies on your side.

4) Am I going to be inundated with calls and visits to my house? I am more worried about debt collectors knocking at my door, is there any way of avoiding this? Phone calls probably - but there is a template somewhere on the site to send companies if they are harassing you. Honestly most companies stopped me calling once I had the guts to take one call and actually talk to them In theory once you're on a DMP you shouldn't get anyone knocking at your door as they know you're on a plan - also you don't have to let anyone in and again there is a letter to send re doorstep calls.

5) I currently board with my friend in the house he has mortgaged and pay a paltry £50 per week to live there (this includes my half of the bills) but he has been such a great friend to me since I split with my wife and I don't want to lose his friendship over this and haven't mentioned this to him yet. My question is will this have any affect on his credit rating/ ability to get new credit? We are not financially linked in any way other than I am on the electoral roll at his house. I have no idea - sorry I'm sure credit rating only affects a person not a house but I'm sure someone will know more.

I am so happy to be doing this but just want to make sure I am going into it with all the facts clear in my head before I do.

Thanks in advance

BCFC84

Hello and welcome - since I am up I will answer what I can - and I'm sure others will be along with advice as well

I've made comments by what I can answer - I hope they help, if not, the at least I tried Congrats on seeing the light and going onto a DMP - it's hard at first but (I believe) it gets easier and its lovely to see the debts actually going down :T

MissPriss

Regarding the phone calls - before you set up the DMP contact all relevant companies and ask them to remove your phone numbers from their records (don't mention the dmp). As long as they have a postal address for you, they can't insist on a phone number contact as far as I'm aware.

MP

Mrs_Trouble

Re phone calls, I have left my mobile on as I can ignore that at will rather than them contacting me at home - and I asked them to remove all other numbers before my DMP started.

Printed off up to date statements today and Barclays have accepted :j they have reduced interest to 3% APR - thinking I will write to them n a month once they've received my first payment and ask them to stop interest - is it worth a try - 3 down, 4 to go.......