DMP Mutual Support Thread - Part 7

ianmak

anotherdebt wrote: »

Hi all I have been lurking for a while and after sitting down with facts and figures I have just been slapped in the face. I have an appointment with CCCS on Monday having just had a refund paid by DFH. My trouble is I have debts of aprox £28,500 on 5 cards but my calculator is only telling me I have £280 spare each month to pay this back. I am convinced this will not be enough to satisfy creditors but how does it compare with other peoples debts and subsequent arrangements. My SOA is fine but as I am Self Employed and am currently having a slight down turn my fixed costs for work remain static and therefore can not save any of these costs. I have 2 endowments maturing in 3 years and this will pay off a secured loan which in turn frees up £550 per month. HELP HELP HELP

I started out with 38k of debt, and a very small (I thought at the time) repayment of £158 a month (20 year dfd!). I'm glad because it gave me the chance to learn how to budget with PayPlan's generous budget. Since then I've been lucky with promotions and payrises (how they've dried up!) to reduce this to 7 years.

So £280 seems like a reasonable repayment amount considering your debt amount. And remember you will have reviews, and if at anytime you need to increase or reduce your repayments, you can do this.

the_tooth_fairy

ianmak wrote: »

Defaults get issued as effectively you've broken the terms of the agreement. So pretty standard. According to PayPlan you don't need to inform them either!

Hi Ian! Great to see you are giving good advice, as usual:A

Default notices are blooming scary when you first get some, I remember you helping me with that one! I'm having a glass of half price Pinot from Tesco tonight (I know how to push the boat out!!) and will raise a glass to you! :beer:

ttfx

ianmak

p-pincher wrote: »

Hi everyone

First time posting on this thread, just needed a bit of advice.

OH has had his paperwork from cccs about his dmp, nothing signed yet but he's got a telephone appointment with them on Tuesday and ive just sorted the letters out to send to his creditors and im going post office on Monday to get the postal orders to sort out his token payments. I know he's doing the right thing because basically his ougoings are alot higher than what he has coming in (including priority bills, csa, and debts).

We have separate money and were not linked in any way. Im just so worried about the house, its in his name but the mortgage has always been paid on time and no matter what it always will be. None of the debts are secured against the house but i cant get the thought out my head that we might loose our home, it's making me physically ill thinking about it. How likely is it that we could lose it???

The only way you'd lose the house is if you failed to make your mortgage payments. You may get CCJs or COs, but that would be unlikely to force you to sell.

Please don't worry about it!

ianmak

the_tooth_fairy wrote: »

Hi Ian! Great to see you are giving good advice, as usual:A

Default notices are blooming scary when you first get some, I remember you helping me with that one! I'm having a glass of half price Pinot from Tesco tonight (I know how to push the boat out!!) and will raise a glass to you! :beer:

ttfx

Chin chin to you, *clinks glass* have a good evening!

goingforward_3

the_tooth_fairy wrote: »

That's brilliant:T

Goingforward, Thank Goodness your Dad is on the mend and as the other posters say, best wishes to your hubby, too. 7 years sounds a lot, but to get your life back to normal within that time seems reasonable to me. Also, you never know what happens in the meantime, even coming in to a small amount of money might help you make reasonable offers to your smaller creditors and get rid of them for good. I hope so!

ttfx

Thankyou... 7 yrs seems a long time i know but if we had carried on as we were we would never have got debt free... I hope to be able to squirrel away a lit bit here and there and to be able to make some reasonable offers as time goes on and my aim is to be debt free in 5 yrs (sooner if possible).

Twit_Head

My, my what a lot of wobbles from the new starters!

It's all so very scary at first. We've all been there and felt all these frightening feelings. Just take it one step at a time and deal with each different issue as and when they crop up.

Some back reading of this thread is also very valuable.

And a very good evening to you TF and Ian - may I join you in a glass of wine (bit of a tight fit I hear you say :rotfl:)

'Twitty'

ianmak

A few noobies. I'm sure I've forgotten someone, so apologies if I have!


Loubylou2 397
sherry16 398
TightbudgetJO 399


Please get stuck in on this thread, don't be strangers!

ianmak

Twit_Head wrote: »

My, my what a lot of wobbles from the new starters!

It's all so very scary at first. We've all been there and felt all these frightening feelings. Just take it one step at a time and deal with each different issue as and when they crop up.

Some back reading of this thread is also very valuable.

And a very good evening to you TF and Ian - may I join you in a glass of wine (bit of a tight fit I hear you say :rotfl:)

'Twitty'

Come on, squeeze in love, I think there's enough room!

tweetiepickle

:)Hi Ianmak please could I have a number

Twit_Head

Hello dadooronronrondadooronron - some good advice for you from ex-rayday. But how long does it take you to log in with a 'monica' like that? Welcome to the madhouse!

goingforward - Hope things continue to progress for you and your family.

My own cardiac appointment has been quickly brought forward, because of the severity of my symptoms and my (relatively ) young age. Must admit to feeling very frightened. I've been so well since my heart attack at an early age. I am slim, and manage to eat well and healthily on a very restricted budget. I look at obese, beer-swilling, smoking, pie and chips folk and think - why me? (Sorry - having a bit of a selfish 'down' rant now )

Thanks all for listening. It's wonderful to have a 'safe haven' to let your worries hang out - be they financial or otherwise.

Got to go now before I start sobbing and using default notice to blow my nose on :rotfl:

Happy weekend to all and may our debts be re-paid sooner than later!

'Twitty'