Bit of advise please

HappyMJ

IceNinja wrote: »

Electricity............................. 100 Can you look into reducing this? Tried, Unfortunately no, two children mean alot of washing and someone in the house all day. I do look at who is the cheapest every six months tho. I know people on this site with larger households and lower bills than that including electric heating/hot water and cooking. Does this include arrears? Wear clothes a bit longer. 4 people in a house shouldn't cost that much. Try turning things off washing only full loads. Think about an A-rated large 8kg washer next time you need to get a washing machine.

Satellite/Cable TV...................... 35 This could probably be reduced too! On lowest package but with insurance for the box. Dump the insurance it's the biggest waste of money. If it does break cancel SKY. Sky will not like that so they'll offer you a new box for free.

Internet Services....................... 5 Is this with SKY? It's gone up...

Pet insurance/vet bills................. 41.1 Shop around for this too - it's a huge expense. These are lifelong policies, may be able to reduce by £15 tho. This should be no more than £21 per month.

A few notes...

HappyMJ

IceNinja wrote: »

Do you think its likely that a DMP would be suitable? would my creditors even agree?

M

Nope as you are only £13 short per month. Just needs a few cutbacks and you'll be breaking even.

saltnvinegar

Hi Iceninja

Yes a DMP may be a solution but you need some independant impartial advice from someone who is not going to profit from your situation.

Gregory Pennington are not impartial, as they do not provide a service for free.

They are already telling you some slight porkies, think about it:

You owe £20,620 on unsecured debt right now. If interest was frozen on all these balances with an available amount of £370 per month this would take you 56 months to clear the balance. This is nearer to 5 years not 4.

This also doesn't take into consideration:

1) The fees you would have to pay them
2) Your car needs to maintenance/repairs in that time (£6 a month?)
3) You are never going to have a haircut in that time (£0 a month?)
4) That there are no emergencies in life you will have to cover?
5) Your secured debt

They are also not being honest with you by saying they can get interest frozen. Your creditors are under no obligation whatsoever to freeze interest and they shouldn't be misleading you into thinking this is a given.

Try one of the free impartial companies (CCCS, Payplan) who will be more realistic with you in your SOA and also in what a DMP really means especially in terms of the reactions of your creditors.

SnV

IceNinja

Hi Guys,

I have done the online CCCS thing and they have recomended I embark on a DMP.

Do you know what I'll need to send through to them, I know it mentions a letter from each creditor, but will I need to send them Utility Bills bank statements ETC?

Thanx

M:)