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help with my own DMP?

odydog
Posts: 29 Forumite
Has anyone got any advice on doing my own dmp?
Am currently with a debt management company and want to leave to set up my own. Currently they take £145 a month,£28 of that is their charge.would like to do my own dmp as recently had lots of letters etc.
Any templates would be great as im not too great at letter writing,any advice on how to calculate my payments etc.
Debts are; £17200
£1900
£200
£200
How shall i calculate payments of £145 a month, will increase when i go back to work
Am currently with a debt management company and want to leave to set up my own. Currently they take £145 a month,£28 of that is their charge.would like to do my own dmp as recently had lots of letters etc.
Any templates would be great as im not too great at letter writing,any advice on how to calculate my payments etc.
Debts are; £17200
£1900
£200
£200
How shall i calculate payments of £145 a month, will increase when i go back to work
0
Comments
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to calculate fairly would be to
£145 % £19500 = 0.0074358974358974 then x £17200= £127.89
£145% £19500 = then x 1900 = £14.13
£145 % £19500 = then x 200 = £1.49
£145 % £19500 = then x 200 £1.49
total £145.00
hope this helps0 -
Do you think i these payments would be accepted through my own plan? im so scared to branch off on my own but feel that once the ball is rolling it should be ok!0
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There are a set of letters for a self managed dmp here:
http://www.ned-cab.org.uk/debtselfhelp/dmp.shtml
National Debtline: http://www.nationaldebtline.co.uk/ will also send you a letter pack if you ask I think?Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Has anyone got any advice on doing my own dmp?
Am currently with a debt management company and want to leave to set up my own. Currently they take £145 a month,£28 of that is their charge.would like to do my own dmp as recently had lots of letters etc.
Any templates would be great as im not too great at letter writing,any advice on how to calculate my payments etc.
Debts are; £17200
£1900
£200
£200
How shall i calculate payments of £145 a month, will increase when i go back to work
Let someone else have the bother!0 -
There is an argument for using a genuinely free DMP provider (eg Payplan), but there is an argument against too. They don't offer you the flexibility to do things like ignore any statute barred debts or pay your way out early with settlement offers. It would depend on how daunted the OP is by self-managing really.I refuse to be afraid of the big bad wolf, spiders, or debt collection agencies; one of them's not real and the other two are powerless without my fear.
(Ok, one of them is powerless, spiders can be nasty.)
As of the last count I have cleared [STRIKE]23.16%[/STRIKE] 22.49% of my debt.
0
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