DMP Advice Please

moments_of_sanity

We have put our SOA up some time ago and people were really helpul, however we have thought long and hard about this and we really think the time has come to choose to take the DMP.

We can't afford to do anything at all, buy the kids an ice cream if we are out walking the dogs and we see one, pay for hair cuts, spend more than £45 a week on shopping (for 4 people, 2 dogs and 2 cats) and even petrol is depleating our funds. All of our money goes on paying the credit cards back (mostly minimum) and we then have no money left for the rest of the month.

Today our boiler has gone wrong and we have no hot water - we cannot afford to get anyone out to look at it as we have credit card payments to make at the end of the month!

Can anyone advise on what sort of 'allowance' the DMP will allow us, will it allow us fuel amount, shopping, pet food, saving for car MOT, tyres, hair cut, etc and how exactly do we budget for this? Does anyone know how long it takes to get this in place as we are due to pay our CC's in the next 7 days?

Any help you can give regarding this would be gratefully received.

~Beanie~

A DMP will allow you money for food, car expenses, bills etc and then work out how much you have left over after paying these each month. That amount is then split between your creditors.

Have a look at the CCCS website, http://www.cccs.co.uk/ you can fill in their debt remedy for free and see what it recommends.

It definately won't be set up in time for your credit card payments though so maybe its worth sending token payments of £1 and letting them know you will be entering a DMP?

moments_of_sanity

~Beanie~ wrote: »

A DMP will allow you money for food, car expenses, bills etc and then work out how much you have left over after paying these each month. That amount is then split between your creditors.

Have a look at the CCCS website, http://www.cccs.co.uk/ you can fill in their debt remedy for free and see what it recommends.

It definately won't be set up in time for your credit card payments though so maybe its worth sending token payments of £1 and letting them know you will be entering a DMP?

Thanks for your help.

I have looked at our bill list and everything we have on there is essential, will they query the mobile phone bills at all? (this is £7.50 per month for DH & mine and £10 each for the DD's?). It also includes contact lenses for eldest DD?

Additional costs we have are:

Petrol and bus fares £450 per month
Food £500 per month
Pet food (2 cats & 2 dogs) £50 per month
Clothing/hair £60 per month
Dental visits £5.60 per month (this will cover our 2 x check ups per year)
Car tax,mot,tyres £110 per month
Short courses £20 per month, these have to be paid to the school as they are run in school time (apparently it's parents job to pay!)

Will they disallow any of the above payments? working out the above, it means we will have £300 per month to pay off the debts.