What a mess!

chocolatebutterbean

What to do?
I have tried to keep up with minimum repayments but couldn't so I started a DMP with CCCS. Some creditors are refusing to suspend interest and I feel like I am paying money out (631) each month and not seeing any results.

For a 45.00 payment Natwest are taking 43.00 interst!

I would really appreciate any advise as I truly am at the end of my rope with this.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 1300
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2500
Monthly Expense Details
Mortgage................................ 375
Secured/HP loan repayments.............. 360
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 125
Electricity............................. 65
Gas..................................... 55
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 20
Mobile phone............................ 100
TV Licence.............................. 15
Satellite/Cable TV...................... 20
Internet Services....................... 20
Groceries etc. ......................... 350
Clothing................................ 20
Petrol/diesel........................... 150
Road tax................................ 10
Car Insurance........................... 35
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 45
Pet insurance/vet bills................. 0
Buildings insurance..................... 20
Contents insurance...................... 15
Life assurance ......................... 35
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1970

Assets
Cash.................................... 0
House value (Gross)..................... 95000
Shares and bonds........................ 0
Car(s).................................. 4500
Other assets............................ 0
Total Assets............................ 99500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 72500....(375)......0
Secured Debt.................. 15000....(175)......0
Hire Purchase (HP) debt ...... 8000.....(185)......0
Total secured & HP debts...... 95500.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
natwest cc.....................2955......75........0
natwest cc 2...................2500......70........0
natwest loan...................12640.....250.......0
shoe tailor catalogue..........400.......40........0
vanquis cc 2...................2200......75........0
vanquis cc 1...................1800......60........0
credit union...................5370......190.......0
mbna card......................2575......75........0
natwest od.....................5000......75........0
Total unsecured debts..........35440.....910.......-

Monthly Budget Summary
Total monthly income.................... 2,500
Expenses (including HP & secured debts). 1,970
Available for debt repayments........... 530
Monthly UNsecured debt repayments....... 910
Amount short for making debt repayments. -380
Personal Balance Sheet Summary
Total assets (things you own)........... 99,500
Total HP & Secured debt................. -95,500
Total Unsecured debt.................... -35,440
Net Assets.............................. -31,440

DEVONLIFE_2

chocolatebutterbean wrote: »

What to do?
I have tried to keep up with minimum repayments but couldn't so I started a DMP with CCCS. Some creditors are refusing to suspend interest and I feel like I am paying money out (631) each month and not seeing any results.

For a 45.00 payment Natwest are taking 43.00 interst!

I would really appreciate any advise as I truly am at the end of my rope with this.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 1300
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2500
Monthly Expense Details
Mortgage................................ 375
Secured/HP loan repayments.............. 360
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 125
Electricity............................. 65
Gas..................................... 55 looks high have you cheked on a comparison website
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 20
Mobile phone............................ 100 Looks high
TV Licence.............................. 15
Satellite/Cable TV...................... 20
Internet Services....................... 20
Groceries etc. ......................... 350 Too high
Clothing................................ 20
Petrol/diesel........................... 150
Road tax................................ 10
Car Insurance........................... 35
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 45
Pet insurance/vet bills................. 0
Buildings insurance..................... 20
Contents insurance...................... 15
Life assurance ......................... 35
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50 too high
Haircuts................................ 10
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1970

Assets
Cash.................................... 0
House value (Gross)..................... 95000
Shares and bonds........................ 0
Car(s).................................. 4500
Other assets............................ 0
Total Assets............................ 99500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 72500....(375)......0
Secured Debt.................. 15000....(175)......0
Hire Purchase (HP) debt ...... 8000.....(185)......0
Total secured & HP debts...... 95500.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
natwest cc.....................2955......75........0
natwest cc 2...................2500......70........0
natwest loan...................12640.....250.......0
shoe tailor catalogue..........400.......40........0
vanquis cc 2...................2200......75........0
vanquis cc 1...................1800......60........0
credit union...................5370......190.......0
mbna card......................2575......75........0
natwest od.....................5000......75........0
Total unsecured debts..........35440.....910.......-

Monthly Budget Summary
Total monthly income.................... 2,500
Expenses (including HP & secured debts). 1,970
Available for debt repayments........... 530
Monthly UNsecured debt repayments....... 910
Amount short for making debt repayments. -380
Personal Balance Sheet Summary
Total assets (things you own)........... 99,500
Total HP & Secured debt................. -95,500
Total Unsecured debt.................... -35,440
Net Assets.............................. -31,440

Just some observations:)

DEVONLIFE_2

One other point is that sometimes it takes creditors time to suspend interest. Also they dont have to. Just stick at it!

chocolatebutterbean

Thanks Devonlife.

To be honest I wasn't sure what amount to put down for sundries like pressies etc. because we are not currently putting anything aside for them. Same with groceries we are trying to live cheaply but we are both taking lunches to work instead of buying and I ahve stopped smoking in an effort to save some money.

Just feeling sorry for myself I guess but this feels like an uphill struggle and now we are getting letters from some creditors saying they will not accept the amount offered by CCCS so where do we go from here?

DEVONLIFE_2

Some good money saving ideas that your doing. It will feel like a uphill struggle but you get satisfaction when you see the balances come down.. With creditors they will try and push for more money. All there interested in is getting there money back. Provided you have a realistic budget then what you have offered is all you can afford. They cant get blood out of a stone!! I self manage my DMP and I had the same issues. But in the end they just accepted my amounts. To be honest if the CCCS have written to them with your SOA and have set the amounts then why not phone the CCCS and send them the letters?Just stick to your guns.

Mandaro

Whenever you make reduced payments offers to creditors, there is never any guarantees that they will stop any interest/charges as this is part of the original T&C that you agreed to when you took out the loans. Creditors may however stop interest/charges at a later date after receiving regular payments through the dmp plan.

Any letters you may receive from creditors regarding mispayments are sent out by an automated system. These should stop when the creditors have received some regular payments through CCCS. If they call you, just tell them you, have a dmp with CCCS and give them your ref number.

CCCS is a recognised charity and is known by many creditors. I have friends who have used CCCS and cleared their debt with their help, so I suggest you stay with them.

[Deleted User]

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1200
Partners monthly income after tax....... 1300
Total monthly income.................... 2500

Monthly Expense Details
Mortgage................................ 375
Secured/HP loan repayments.............. 360
Council tax............................. 125 (Are you currently paying this over 10 months - see if you can spread it over 12)
Electricity............................. 65 (This, and gas below are high, check that you are not in credit with them and claim it back if you are - Also check comparison sites to see if you can get either/both cheaper - often online and duel fuel deals are best)
Gas..................................... 55 (as above)
Water rates............................. 25
Telephone (land line)................... 20 (See if combining with internet will be cheaper)
Mobile phone............................ 100 (These are very high - how many phones? If you are in contact plead with your provider to reduce the tariff, if you are out of contract go SIM only or PAYG)
TV Licence.............................. 15 (12.37)
Satellite/Cable TV...................... 20 (Cancel)
Internet Services....................... 20 (see phone above, and shop around)
Groceries etc. ......................... 350 (this is high - try dropping brands, meal planning, batch cooking etc - the old style board is good for tips and advice)
Clothing................................ 20 (put to essentials only)
Petrol/diesel........................... 150
Road tax................................ 10
Car Insurance........................... 35
Car maintenance (including MOT)......... 50
Medical (prescriptions, dentist etc).... 45 (What is this for - if contact lenses see if you can get a cheaper deal online - if prescriptions look at pre-paid certificats and see if this would work out cheaper for you)
Buildings insurance..................... 20 (Check comparison sites - and see if combined byildings and contents would be cheaper)
Contents insurance...................... 15 (as above)
Life assurance ......................... 35 (check comparison sites)
Presents (birthday, christmas etc)...... 50 (reduce)
Haircuts................................ 10
Total monthly expenses.................. 1970

Assets
Cash.................................... 0
House value (Gross)..................... 95000
Shares and bonds........................ 0
Car(s).................................. 4500
Other assets............................ 0
Total Assets............................ 99500

Secured & HP Debts
Description....................Debt......Monthly...APR (What are the APR's?)
Mortgage...................... 72500....(375)......0
Secured Debt.................. 15000....(175)......0
Hire Purchase (HP) debt ...... 8000.....(185)......0
Total secured & HP debts...... 95500.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR (Again, what are the APR's?)
natwest cc.....................2955......75........0
natwest cc 2...................2500......70........0
natwest loan...................12640.....250.......0
shoe tailor catalogue..........400.......40........0
vanquis cc 2...................2200......75........0
vanquis cc 1...................1800......60........0
credit union...................5370......190.......0
mbna card......................2575......75........0
natwest od.....................5000......75........0
Total unsecured debts..........35440.....910.......-

Monthly Budget Summary
Total monthly income.................... 2,500
Expenses (including HP & secured debts). 1,970
Available for debt repayments........... 530
Monthly UNsecured debt repayments....... 910
Amount short for making debt repayments. -380
Personal Balance Sheet Summary
Total assets (things you own)........... 99,500
Total HP & Secured debt................. -95,500
Total Unsecured debt.................... -35,440
Net Assets.............................. -31,440

You've mentioned that some of the figures are inaccurate, to find out how much you really spend in some areas you need to keep a spending diary and see what gets spent and where.

HTH

D9