DMP Mutual Support Thread - Part 7

Loubylou2

Hi Everyone.
Been catching up with some of the posts and particularly Twitty's news. I'm so pleased for you.
It's been a tough year and I realise that the same for most of us. We didn't change our payments to our DMP at the review. With big increases in bills it should have gone down but we were worried about upsetting the creditors and as a result this year has been difficult. I also lost my best friend to cancer this year. She was wonderful and I miss her enormously but I realise its nothing compared to her teenage daughters.

That aside I am once again needing advice please. OH is finally being made redundant. Our debts are very large and most of his redundancy will pay off our secured borrowing.
We have negotiated with Triton Nat West and they have agreed a settlement of about 55% which we are happy about and just waiting for written confirmation. However Tesco are proving to be a problem. The thing is we were paying them almost the whole amount as they had lumped on all the interest at the start of the DMP. They have defaulted us but we were only about £20 short of our previous monthly amount. We have offered them a low % but increased to just over 50% but they are just not interested. Everything has been put in writing by us and OH has also spoken on the phone. One advisor did suggest 50% verbally but when we increased to that amount which is our limit another advisor said 80%! Unfortunately that is out of the question. We are having the same problems with a smaller debt with Buchannan Clark & Wells but they have been straighter with us and said 80% and put it in writing.

In the meantime we have had an awful month with car, cooker, fridge all breaking down. So we have reduced our payment to £1 for the end of this month and have notified both creditors. Its scary stuff!!
Do you think that there's any chance of a reduced settlement with Tesco bearing in mind the debt hasn't been sold on? Obviously we would love to sort this out with the redundancy being so close. OH hasn't got another job yet although he's heard a whisper of a possible temp contract with one employer (he's been looking for 7 months)
In other words what will happen now? Any advice about how we should go forward would be greatly appreciated. Should we ask Payplan to negotiate now or leave it a little longer? If OH does get this contract there is the chance we could afford the old payments but I'd really like to sort this out before then once and for all. OH told Tesco he was losing his job and they said they were confident he'd get another one and in the meantime they would reduce our monthly payments. They are definitely giving the impression they are not interested in negotiating!

Thanks in advance & Happy New Year!

Brogden

Last day of the year! Speaking of money saving and getting out of debt etc...................does anybody smoke? Does anybody have any new year resolutions on giving up smoking? Does anybody have any good money saving stories about giving up smoking and getting out of debt?

All the best,

Brogden.

paintpotter

Good luck with all debt management plans, I have been on mine for just over two years with payplan.

Initially it was a massive £42000, I have managed to get it down to £27000.

Many of my creditors have frozen thier interest charges.

No charges to dmp company, every penny i pay (£570) each month goes off my debts...

Good luck and keep it going... your get there in the end, as will I..

PAul

NaughtySpot

Hi all :wave:

I really need to join this thread if I may?

Me and DH are just starting our DMP, first payment goes out 10th Jan.

Most of 2011 has been spend stressing about money, so now things are moving I am feeling a bit lost TBH.

I have never budgeted in my life, and thought of no credit card is quite scary. I have been "getting round" to doing a budget spreadsheet for the past two weeks and I now really need to do it now we are in the new safe bank account.

Happy 2012 to all DFWs, this is going to be out year to get these things sorted. :beer:

PinotGrigio41

NaughtySpot wrote: »

Hi all :wave:

I really need to join this thread if I may?

Me and DH are just starting our DMP, first payment goes out 10th Jan.

Most of 2011 has been spend stressing about money, so now things are moving I am feeling a bit lost TBH.

I have never budgeted in my life, and thought of no credit card is quite scary. I have been "getting round" to doing a budget spreadsheet for the past two weeks and I now really need to do it now we are in the new safe bank account.

Happy 2012 to all DFWs, this is going to be out year to get these things sorted. :beer:

Our DMP is only just starting this month, but we have survived without a credit card for about 18 months now. It was really scary at first I must admit, but we have managed fine, even when we have had major car repairs and washing machines go wrong. It is actually really satisfying when you pay for something with cash ( like Christmas for example), or even a couple of days away camping. I am sure you will manage fine. Like you we spent most of 2011 stressign about money ( actually 2010,2009 etc etc !!), but we are startign 2012 relatively upbeat and determined to sort the debt out once and for all.

Just want to wish you luck and a wonderful 2012 :beer:

Loubylou2

I agree its liberating when you actually take your head out of the sand. Scary moments and plenty still to come no doubt but I NEVER want to go back to those times again even when we're finally sorted out.
Good luck to all those starting on this journey. I'm actually looking forward to being able to save money each month to have a buffer when things do go wrong.
LLxx

Standingtall

Brogden wrote: »

Last day of the year! Speaking of money saving and getting out of debt etc...................does anybody smoke? Does anybody have any new year resolutions on giving up smoking? Does anybody have any good money saving stories about giving up smoking and getting out of debt?

All the best,

Brogden.

Hi Brogden, there is a giving up smoking thread somewhere. However, yes, I have saved a for fortune from stopping. I only smoked 10 a day maximum and sometimes not at all. I found it difficult to quit on previous occasions however, regardless of being only a light smoker. In the end I confessed to the doctor and he prescribed tablets for me, Champix. They were absolutely fantastic and I have never looked backed. They taught me to associate smoking with feeling very sick so I now have a psychological block to smoking. :T. I did suffer with morning sickness whilst taking them though, they are quite strong. I also had the weirdest dreams ever, lol. Worth it though:j

Twit_Head

the_tooth_fairy wrote: »

She knows, and you're free now, missus!!

Thanks for all the craic,

ttf xx

Where have you been, you wicked woman?
SO, SO glad you popped back in - I really missed saying goodbye to you personally.
Just here for a wee while myself (feel a bit like a fish out of water now!)
Hope you are fully recovered after your accident. S*d the no claims - far better a TF in one piece!
And well done you - that's an ENORMOUS amount paid off your debt. Keep going pet, one day you too will be free. Thanks to you too, for all the fun and support. :A
I wish you and yours a very happy New Year, and hopefully not too far away, a debt free future.
It's been a joy and pleasure sharing this space with you.
I KNOW you hate the word - so finally I can only say Good Luck on the rest of your JOURNEY!!! :rotfl::rotfl::rotfl:

'Twitty' x

Twit_Head

Loubylou2 wrote: »

Hi Everyone.
Been catching up with some of the posts and particularly Twitty's news. I'm so pleased for you.
It's been a tough year and I realise that the same for most of us. We didn't change our payments to our DMP at the review. With big increases in bills it should have gone down but we were worried about upsetting the creditors and as a result this year has been difficult. I also lost my best friend to cancer this year. She was wonderful and I miss her enormously but I realise its nothing compared to her teenage daughters.

That aside I am once again needing advice please. OH is finally being made redundant. Our debts are very large and most of his redundancy will pay off our secured borrowing.

Thanks in advance & Happy New Year!

Hi LL
Not much solid advice to gve you I fear.
You've had a difficult year both financially and personally. Always remember you have to be a wonderful person to have a wonderful friend - you will forever have memories of good times together. And one day when you are debt free, it will give you comfort to support a cancer charity in memory.
As for the here and now - I can only suggest you keep on grinding your creditors down. I made F + F offers, and it went on for months. NOT a quick process
Stress that OH is not going to have a regular income coming in - here is money on the table. This is it - take it now, or payment may drastically reduce.
Hope you have a better 2012!

'Twitty'

Loubylou2

Oh Twitty now i've got leaky eyes. I miss her a lot and am desperate for her girls. But as you say lucky to have had her as a friend and she was one of the very few people who knew about our DMP and she supported and didn't judge despite her terrible illness.
I'm hoping once the £1 arrives at Tesco they might be a bit more conciliatory but who knows. We laid our cards on the table but they really don't seem bothered. Oh well there's not a lot we can do right now.
Much love to everyone for a very Happy New Year. I have been a very errant poster in the last year but when we started on this journey I can truthfully say I would not have got through those first months without the support on this forum. Thank you and here's to a great 2012. xxx