CCCS a year on, just up'ed my DMP

Tuscan

I still owe a huge amount of money to sevarel lenders, but i can now see the light at the end of the tunnel. when i had my light bulb moment and got help i owed about £76,000 to c/c and loans the cccs worked out a dmp of £460 per month, now a year on i have payed off over £5000 and since i started ive not been a penny overdrawn with the bank and im now putting income tax money away in my LTD company. Im a one man band small buisness and was all ways in the red as i needed every penny to pay bill's and then i would still be upto a grand short per month which meant bashing the c/c again and again. ive just got off the phone to the cccs and done a revue and im now able to up my dmp by 25% to £575 per month, when i first sighed up i was looking at about 14yrs to being debt free, im now looking at 10yrs at my current payments. i have a joint mortgage with my wife and hope to move home in about 4-5yrs time, by then i would have at least halfed my debt and with the equity in our house we should be able to pay it off and have enough for a decent deposit on another house, so hopefully i should be clear in 4-5yrs..


regards
T

saubryn

Congratulations! It sounds like you're making incredible progress!

Jolinar

Congratulations

I've just increased my payments to CCCS too, New debt free date will be Oct 2010 instead of Sept 2011

Tuscan

thanks, it does feel good to see the debt and time scale come down instead of up, i was always getting further into debt before, now i get a real buzz when paying for things in cash, if i havent got it i cant have it which makes it so much better when i can afford a small treat..


T

frankie1_2

Well done you!!!
It must be a great feeling to see your debts shrink like this.
Using cash only as a means of buying things feels really strange ( only 2nd month for me)

LittleL_4

Hi T, you sound positive about the future and well done for upping your DMP. I'm just about to start on one and posts like your own help alot, cheers!

Little L
xx

Tuscan

LittleL wrote:

Hi T, you sound positive about the future and well done for upping your DMP. I'm just about to start on one and posts like your own help alot, cheers!

Little L
xx

thanks all

good luck with it little L, you will find that without credit its easyer to control your money, it comes down too if you have the money you can buy it if havent you cant, and every month your debt comes down and every penny you pay comes off the debt no interest or charges just straight of what you owe...

Tuscan
x

spud30

Hi Tuscan

LittleL is right, it does help to hear what life is like a year down the line.

I am also just starting out on a DMP, I have just paid my second payment. At the moment, I am being bombarded by letters and phone calls threatening added interest and charges etc all over the place.

It's hard to see a way through. I hope in a years time, I will be as settled and as positive as you are.

Thanks for posting.

x

Tuscan

hey spud..

dont worry about the letters and calls, best thing is dont ignore them speak to them politly and try to come across as a sensible adult that no's they have a debt problem and thats why you are getting help from the cccs etc, try telling them that you want to pay everything you owe and that you will do so in time, sometimes they ask for a token payment if you can give them a fiver it will look good on you. for a few months you may find that they still add interest and charges as it takes a fair while for all the paper work to get to the right people at your creditors offices but they normaly stop once they get regular payments, funny as it seems that the smaller debts seem to get most hassle, i owed my bank over 30k and they were good as gold probley because they were worried i would knock them for such a large amount.

as i say keep carm with them be polite even when they are being stroppy to you and try to keep them informed as to what you are doing, dont be afraid to answer the phone its just not worth getting stressed over, the hardest thing was admiting to your self that you needed help and you have done that, say to yourself im doing everthing i can to sort things out i cant do anymore than that they cant have what i havent got to give, go to sleep at night knowing you have turned a corner now and wont get into anymore debt, threatning letters are normaly just that, threats aimed to scare you into paying.

T

spud30

Thanks Tuscan.

You should post more often !!!!

I will answer the phone. In fact, I read your post, then the phone rang and I answered it. It was a number that has been ringing every other day or so, and I have been avoiding, dreading who it might be. It turned out to be a wrong number:rotfl:

Thanks again for your words of support and advice.

It means a lot :beer:

Tuscan

yes i had that myself, you get parranoid in the end better to answer and know who it is than not answer and worry who it might be.

good luck
T