Help needed!

emmy1_2

Hi

Its my first time on DFW. I have spent ages looking through old threads to try and find some answers.

Im just starting trying to set up a DMP with payplan, have a telephone interview booked for wed. I've spent the last week facing up to the true extent of my debts and can't believe its got to this. £36000 on credit cards and personal loans which I've have racked up over uni and the past 6 years. I have only told one friend and the nurse whose given me some sleeping pills after spending 3 nights lying awake worried sick. I cant tell my family, my mums been ill and they just couldnt handle it. The people at debtline and payplan have been brilliant so far but im so worried.

Some of my creditors are MBNA and HSBC who seem to be the worst to have, has anyone had experience of their reactions to a DMP?

Also Im worried about CCJs as my brother works for the police and every time he goes for a new job with them they check his relatives for these. Apparently having a family member with one can stop him getting a job, has anyone heard of this? I haven't defaulted on anything yet but Im worried a CCJ could happen if I enter a DMP.

I have a good job and a home Im scared of losing . If everything went ok it looks as though i could be debt free in 6 years. I swear I'll never touch credit again, this is the worst thing I have ever had to deal with.

If anyone has any answers to these questions I'd be so grateful, thanks

jas135

there are loads of people on here who will support you and give you all the advice you need .
As for your brother and his application to the police force , I have never heard of this before ?? My cousin is in the police force in Devon and his brother is in prison for armed robbery

CLAPTON

as far as your debts are concerned, you need to post details of your income, spending and debts before advice can be given
see for more details

http://forums.moneysavingexpert.com/showthread.html?t=107280


CCJs are relatively unusual for people in DMPs.

I've never heard that the police relatives' are vetted for their financial circumstances.

emmy1_2

Hi thanks for getting back to me. My details are

My salary - £1,716

Total - £1716

Monthly Outgoings:

Mortgage/Rent - £494.13
Ground rent £55 (inc buildings ins)
Council Tax - £56
Gas - £31
Electric - £23
TV License - £11.37

Phone - £58.40 (home & mob)
House keeping/food etc - £230
Petrol - £130
Life Insurance £22
prescriptions/ dentist- 10
Emergencies- £20
house maintence- £20
Total: £1160.90
(car is leased through work, taken directly before Im paid inc ins/tax/servicing etc)

Debts:

C card - Alliance & Leicester (MBNA) £7832.95 (0%)
C Card Bank scotalnd £6811.88
Cahoot Loan- 7000 (5%)
Alliance and Leicester loan - £8206.80 (6.2%)
Egg loan - £661.07(%?)
HSBC overdraft- £2000
HSBC flexiloan- £3000
Mum = £2500

= 38,012.62
monthly left over for creditors = £556

Is a DMP a good option?, I really dont want to lose my home or its equity.

Also It looks like I might be able to make some extra cash on an evening, that make might it quicker to pay off. Im sick of having my head in the sand.

As far as the police thing goes, I wasn't clear, my relative has just got a job, and they asked for mine and my parents details to check our records (ccjs were mentioned) I suppose its in case I try and bribe him!, it was fine as my historys ok at the moment, but Im worried if he goes for something else and the do it again in the next few years....

Any way , im feeling a bit more in control of it all today but but suggestions are welcome!

Thanks

CLAPTON wrote:

as far as your debts are concerned, you need to post details of your income, spending and debts before advice can be given
see for more details

http://forums.moneysavingexpert.com/showthread.html?t=107280


CCJs are relatively unusual for people in DMPs.

I've never heard that the police relatives' are vetted for their financial circumstances.

CLAPTON

how many people do you feed for 230?
what is the value of the property and how much the mortgage
can you go back and edit the SOA to add the monthly minimum payments for each of the debts

emmy1_2

Theres just me to feed, that figure was based on what debt line advised.

£150 housekeeping
£37.30 meals at work
£20 clothes
£10 laundry
= £212

Sorry have added up wrong somewhere along the line, also forgot water, have added in

My salary - £1,716

Total - £1716

Monthly Outgoings:

Mortgage/Rent - £494.13
Ground rent £55 (inc buildings ins)
Council Tax - £56
Gas - £31
Electric - £23
TV License - £11.37
water- £15

Phone - £58.40 (home & mob)
House keeping/food etc - £212
Petrol - £130
Life Insurance £22
prescriptions/ dentist- 10
Emergencies- £20
house maintence- £20
Total: £1160.90
(car is leased through work, taken directly before Im paid inc ins/tax/servicing etc)

Debts:

C card - Alliance & Leicester (MBNA) £7832.95 (0%) (£7.42 monthly repayment)
C Card Bank scotalnd £6811.88 (0%) (£138.52 monthly repayment)
Cahoot Loan- 7000 (5%) (£153.36 monthly repayment)
Alliance and Leicester loan - £8206.80 (6.2%)(£202.04 monthly repayment)
Egg loan - £661.07(%?)(£28 monthly repayment)
HSBC overdraft- £2000 (£ 22 monthly repayment)
HSBC flexiloan- £3000(£120 monthly repayment)
Mum = £2500 (£150 monthly repayment)

= 38,012.62
monthly left over for creditors = £559

not sure what home is worth £115k?
morgage = £67,396.20
2nd morgage = 14,557.87
total=81,927

Do you need anything else?

CLAPTON wrote:

how many people do you feed for 230?
what is the value of the property and how much the mortgage
can you go back and edit the SOA to add the monthly minimum payments for each of the debts

southernscouser

Emmy first things first, stop worrying. Easier said than done I know. But in reality you have nothing to worry about.

You are the one who is now in control of your money. Your money does not control you.

I wouldn't worry about a CCJ in all honesty. You are facing up to your debts and paying them off. You aren't hiding from them or running away. You may be issued defaults but so what. That won't affect your brother.

Good luck!