DMP Advice

Gemmzie

Spoke to Capital One today, they are happy with a slight rise in payment, didn't even have to mention the "lump" we had.

Their part of the "lump" has now gone to the Joint overdraft

Gemmzie

Grrr, weather dependent jobs stink. Well the extra wages have gone due to two really rubbish weeks.

Then I suddenly remembered MBNA!!!!!!!!! :eek: Mum's card but Dad's debt (his tax for last year). Well the interest free period ends this month, so the minimum goes back up to £50 and the interest is 18.9%

It's never easy is it

Gemmzie

Right the extra we have is going to MBNA and that's my main aim to clear. Hence the new olympic challenge

Gemmzie

Argh, interest rate rise!

Wonder how it'll hit _pale_

Gemmzie

We are in serious trouble. Due to the weather July has been awful, really awful and we are basically £1000 short this month and I have no idea how we are going to pay the mortgage and secured loan let alone the credit cards and direct debits this month.

Help!

itsnowtime

Hi,

Not sure how I can help - but just wanted to wish you good luck and I hope you manage to sort it out.

Good luck

doodah

thinking about you gemmzie!

Gemmzie

Well it's a new month tomorrow so time for an update. Debtors all seem to be ploughing along quite nicely, we've heard from Egg, Halifax and Cap One for a six month review and all are happy.

Am making extra to tackle the three interest bearing debts, they are joint debts but in mum's name so they aren't in the DMP. Should have that cleared in approx 30 months says the snowball.
Ebaying, matched betting and bagging like mad to reduce these though, so fingers crossed it'll be lower.

My next issue to tackle is the secured loan. It's base interest rate linked and has just gone up to 13.25% :eek: :eek: :mad: And so they've up the payment to £319.19 :mad: which is 53p repayment :eek: :mad:
I'm sooooooooo angry. What a joke. There must be an alternative or a way out of this debt. I know it works like a repayment mortgage and there is little of the capital at first but jeez...! Plus any more rate rises and we are snookered.

Hopefully I can find an alternative or a way to over pay it (if that's allowed).

Gemmzie

Internet still hasn't changed over and we are meant to be connecting to Sky on Friday

Anyway, I've updated the first post for the September budget, some up's, some down's and a couple of works in progress

Gemmzie

So I'm back again, two more months down. Will update the first post in a minute with 1st November figures

The Good
* Sky's gone down as has phone - combined saving £40 a month :j
* Gas and leccy are in credit so payment is going down to £147 - so £16 less per month
* No further interest rate rises

The Bad
* Interest free/low periods are nearly up and we haven't sold the car yet

The damn right Ugly
* Checked the tax bill today which is due end of January and we are going to be around £900 short due to their stupid rules of paying so much in advance :mad: ARGH! :mad:
* We are £849.94 overdrawn again and we've borrowed a further £400 on the Egg Money card. :mad: