DMP & Mutual Support Thread - Part 8

Hopelessly_Hopeful

Time_to_face_the_music wrote: »

Hi HH

I tried Noddle a couple of weeks ago and everything appeared to be there. It seems to be a great service for free, any ideas on how they are funded ... or don't I want to know?

We now have a fully functioning and newly MOT'ed car. It cost £424 which was much less than half of the quote from the dealership garage. Fortunately lots of our [STRIKE]crap[/STRIKE] ooops I mean treasure has been selling on ebay so CCCS can keep all of our money this month and we still get to eat

Hi

Am guessing it is due the adverts on the site and the chance the other stuff will entice you.

Great news on ebay and the car. Now you know things come in threes.....wonders if M&S will stop interest for you to make the three complete?

HHx

ben80

Hello everyone, I am a long time lurker and am hoping to become a bit more of a regular poster... I didn't post before as I was rather embarrassed at the state I got myself in... not a rare thing here.

I noticed this support thread and thought I'd share a few things. I got into 38k worth of debt as I had a very turbulent time in my life for a few years and it spiralled. I decided in November 2008 to get help from the CCCS and began my DMP in December of that year.

It's been a really long, lonely and stressful road and I have lost friends, motivation and confidence in the process. I used to love my job, but now just turn up and do the bare minimum - it's hard to get any momentum when you know that (for me at least) your bank account is sub-£100 after about the 10th of a month. As I kept my problems to myself, I've had to be constantly vigilant... it's a full time job in itself and it's really tiring!

There is however, light at the end of the tunnel. I am officially debt free in May next year, but I have just finished paying my student loan, so when that's confirmed stopped form my pay, I will be adding that to my DMP and hopefully my last payment will be February next year... not bad when my first DMP statement estimated March 2014 as my debt-free date. This is proving to be a double-edged sword. I'm starting to feel so proud of myself for being 'nearly there' but I chose not to tell anyone about my problems so I have no-one to share my excitement with! (except you lot!!)

There were dark days - like fielding 3 calls daily from Halifax or the charges they continued to apply, the collection agency and the house calls - but I got though them with a defiant (on the outside) attitude and actually got all my money back & credit files fixed in 1 call to Halifax (after 2 years - they had confused statement and payment dates and took full responsibility). Almost all my other creditors eventually accepted my reduced payments and stopped charging interest... even the ones who didn't accept my reduced payments stopped interest.

Now that I'm close to finishing (I'm getting waves of excitement just thinking about it) I'm starting to plan my future and it feels good. No, much more than that, amazing!! To be able to buy something without thinking "Could it wait another month?" or "Will the debit card bounce?" is going to be an great feeling - my glasses are 3 years old. Also, I have MOT'd my car whilst in debt for the last time, scrimped on (most of) my family's birthday presents for the last time and I only have 1 Christmas left to get through until I can say to the better half "Shall we go away for the weekend" or be able to get him a present on a whim.

I now truly understand the value of money. Though it can't make you happy, it can make you comfortable. Equally, it can make you poorer than you ever thought, for longer then you expected.

What I'm trying to say anyone who is considering getting a DMP/Debt Advice or someone who is relatively early on in a DMP is this - it's horrible for you, believe me, I know. But it gets better... much better. Stick with it and when the light at the end of the tunnel is nearing, you'll feel like me... it's a good (if slightly frustrating!) feeling.

I realise this is a really long and egocentric post but I know some people reading this will be feeling as bad, or worse, than I did and I hope that I have adequately explained the fact that your life will improve - in time.

Hopelessly_Hopeful

ben80 wrote: »

Hello everyone, I am a long time lurker and am hoping to become a bit more of a regular poster... I didn't post before as I was rather embarrassed at the state I got myself in... not a rare thing here.

I noticed this support thread and thought I'd share a few things. I got into 38k worth of debt as I had a very turbulent time in my life for a few years and it spiralled. I decided in November 2008 to get help from the CCCS and began my DMP in December of that year.

It's been a really long, lonely and stressful road and I have lost friends, motivation and confidence in the process. I used to love my job, but now just turn up and do the bare minimum - it's hard to get any momentum when you know that (for me at least) your bank account is sub-£100 after about the 10th of a month. As I kept my problems to myself, I've had to be constantly vigilant... it's a full time job in itself and it's really tiring!

There is however, light at the end of the tunnel. I am officially debt free in May next year, but I have just finished paying my student loan, so when that's confirmed stopped form my pay, I will be adding that to my DMP and hopefully my last payment will be February next year... not bad when my first DMP statement estimated March 2014 as my debt-free date. This is proving to be a double-edged sword. I'm starting to feel so proud of myself for being 'nearly there' but I chose not to tell anyone about my problems so I have no-one to share my excitement with! (except you lot!!)

There were dark days - like fielding 3 calls daily from Halifax or the charges they continued to apply, the collection agency and the house calls - but I got though them with a defiant (on the outside) attitude and actually got all my money back & credit files fixed in 1 call to Halifax (after 2 years - they had confused statement and payment dates and took full responsibility). Almost all my other creditors eventually accepted my reduced payments and stopped charging interest... even the ones who didn't accept my reduced payments stopped interest.

Now that I'm close to finishing (I'm getting waves of excitement just thinking about it) I'm starting to plan my future and it feels good. No, much more than that, amazing!! To be able to buy something without thinking "Could it wait another month?" or "Will the debit card bounce?" is going to be an great feeling - my glasses are 3 years old. Also, I have MOT'd my car whilst in debt for the last time, scrimped on (most of) my family's birthday presents for the last time and I only have 1 Christmas left to get through until I can say to the better half "Shall we go away for the weekend" or be able to get him a present on a whim.

I now truly understand the value of money. Though it can't make you happy, it can make you comfortable. Equally, it can make you poorer than you ever thought, for longer then you expected.

What I'm trying to say anyone who is considering getting a DMP/Debt Advice or someone who is relatively early on in a DMP is this - it's horrible for you, believe me, I know. But it gets better... much better. Stick with it and when the light at the end of the tunnel is nearing, you'll feel like me... it's a good (if slightly frustrating!) feeling.

I realise this is a really long and egocentric post but I know some people reading this will be feeling as bad, or worse, than I did and I hope that I have adequately explained the fact that your life will improve - in time.

What a lovely post. :A

Congratulations and well done on debt busting. :T:T:T

I still have two years to go but all the time I think about .... this time next year will be my last June etc. Whilst it still seems a significant distance somedays when I break it down to what I have to buy over that time it makes it feel like a shorter way to travel. Don't laugh... my hoover bags last 3 months, I love that I will not need to buy another box until after my DMP, also love changing it as one step nearer etc. I know that may look like wishing life away but it so keeps me going!!!!

What's the goal for the future after THAT weekend away?

HHx

Time_to_face_the_music

ben80 wrote: »

Hello everyone, I am a long time lurker and am hoping to become a bit more of a regular poster... I didn't post before as I was rather embarrassed at the state I got myself in... not a rare thing here.

I noticed this support thread and thought I'd share a few things. I got into 38k worth of debt as I had a very turbulent time in my life for a few years and it spiralled. I decided in November 2008 to get help from the CCCS and began my DMP in December of that year.

It's been a really long, lonely and stressful road and I have lost friends, motivation and confidence in the process. I used to love my job, but now just turn up and do the bare minimum - it's hard to get any momentum when you know that (for me at least) your bank account is sub-£100 after about the 10th of a month. As I kept my problems to myself, I've had to be constantly vigilant... it's a full time job in itself and it's really tiring!

There is however, light at the end of the tunnel. I am officially debt free in May next year, but I have just finished paying my student loan, so when that's confirmed stopped form my pay, I will be adding that to my DMP and hopefully my last payment will be February next year... not bad when my first DMP statement estimated March 2014 as my debt-free date. This is proving to be a double-edged sword. I'm starting to feel so proud of myself for being 'nearly there' but I chose not to tell anyone about my problems so I have no-one to share my excitement with! (except you lot!!)

There were dark days - like fielding 3 calls daily from Halifax or the charges they continued to apply, the collection agency and the house calls - but I got though them with a defiant (on the outside) attitude and actually got all my money back & credit files fixed in 1 call to Halifax (after 2 years - they had confused statement and payment dates and took full responsibility). Almost all my other creditors eventually accepted my reduced payments and stopped charging interest... even the ones who didn't accept my reduced payments stopped interest.

Now that I'm close to finishing (I'm getting waves of excitement just thinking about it) I'm starting to plan my future and it feels good. No, much more than that, amazing!! To be able to buy something without thinking "Could it wait another month?" or "Will the debit card bounce?" is going to be an great feeling - my glasses are 3 years old. Also, I have MOT'd my car whilst in debt for the last time, scrimped on (most of) my family's birthday presents for the last time and I only have 1 Christmas left to get through until I can say to the better half "Shall we go away for the weekend" or be able to get him a present on a whim.

I now truly understand the value of money. Though it can't make you happy, it can make you comfortable. Equally, it can make you poorer than you ever thought, for longer then you expected.

What I'm trying to say anyone who is considering getting a DMP/Debt Advice or someone who is relatively early on in a DMP is this - it's horrible for you, believe me, I know. But it gets better... much better. Stick with it and when the light at the end of the tunnel is nearing, you'll feel like me... it's a good (if slightly frustrating!) feeling.

I realise this is a really long and egocentric post but I know some people reading this will be feeling as bad, or worse, than I did and I hope that I have adequately explained the fact that your life will improve - in time.

Hi ben80 :hello:

Fantastic post, all the better for being long and not the tiniest bit egocentric :T

We are only 4 and a bit months into our DMP but already so many things in your post ring true, especially "until I can say to the better half "Shall we go away for the weekend" or be able to get him a present on a whim." I miss so much calling into Waterstones to buy him a book or HMV for a CD I know he wants. Though I do still manage the occasional treat, last weekend it was 2 brand new Naxos CDs from a flea market at 50p each and he loved them

We intended to keep our DMP secret from everyone but it slipped out one day to our daughter because we were used to helping out her and our granddaughter and sadly we can't do it any more, that really hurts. Then I told a very good friend because she always has money problems so I knew she would not be judgemental. I tell other people that we have decided to become debt free and have cut up all our credit cards so won't be going on nights out, for work meals, staying overnight to attend functions etc. It's the truth so I don't feel bad about lying even if it's not the full story

I'll shut up now before my response gets longer than your original post but I just had to say your story really got to me and if you need any support in the next year, don't be a lurker, come and talk to us. Well done and good luck :T

Time_to_face_the_music

Hopelessly_Hopeful wrote: »

Great news on ebay and the car. Now you know things come in threes.....wonders if M&S will stop interest for you to make the three complete?

Oh I wish!

Longroadahead

Hi

I've been trying to face up to my debt problem for a while and have been reading the discussions on here but only now getting the courage to speak up and ask for some advice on moving to a DMP. Here are brief details of my situation.

I have built up a lot of unsecured debt - c. 40,000 - a combination of a long-time in education, low-ish starting salary afterwards and careless spending.

Starting in September last year I have moved the majority of this onto informal payment arrangements and, in most cases, interest and charges have been stopped. However, I am still struggling to meet repayments - I have a high mortgage on a flat which is let out but which doesn't fully cover the mortgage, rent on the house we live in and I have also just had to take a job away from home meaning I will soon have to pay rent on a weekday let as well to enable me to get to work.

I am not in arrears on any priority debts/rent and have no CCJs but obviously have defaults. My income is now comparatively high but is eaten up by these outgoings and I reckon I can realistically only afford £150pcm at the minute on my unsecured debt.

I want to move to a DMP so that I can lower my monthly payments and also don't have the take all of the constant pressure of dealing with lenders pushing for more (though I know that this can continue even in a DMP to some extent). My main question is this - is a DMP realistic on £150 pcm to start off with? I am confident that my ability to repay will improve over the next couple of years but obviously I can't guarantee this.

I have completed the CCCS questionnaire and also requested advice from National Debtline but also thought I would try out here.

I have tried not ramble and hope the general thrust of my position is clear - any advice is appreciated! Thanks:)

speshfesh

ben80 wrote: »

Hello everyone, I am a long time lurker and am hoping to become a bit more of a regular poster... I didn't post before as I was rather embarrassed at the state I got myself in... not a rare thing here.

I noticed this support thread and thought I'd share a few things. I got into 38k worth of debt as I had a very turbulent time in my life for a few years and it spiralled. I decided in November 2008 to get help from the CCCS and began my DMP in December of that year.

It's been a really long, lonely and stressful road and I have lost friends, motivation and confidence in the process. I used to love my job, but now just turn up and do the bare minimum - it's hard to get any momentum when you know that (for me at least) your bank account is sub-£100 after about the 10th of a month. As I kept my problems to myself, I've had to be constantly vigilant... it's a full time job in itself and it's really tiring!

There is however, light at the end of the tunnel. I am officially debt free in May next year, but I have just finished paying my student loan, so when that's confirmed stopped form my pay, I will be adding that to my DMP and hopefully my last payment will be February next year... not bad when my first DMP statement estimated March 2014 as my debt-free date. This is proving to be a double-edged sword. I'm starting to feel so proud of myself for being 'nearly there' but I chose not to tell anyone about my problems so I have no-one to share my excitement with! (except you lot!!)

There were dark days - like fielding 3 calls daily from Halifax or the charges they continued to apply, the collection agency and the house calls - but I got though them with a defiant (on the outside) attitude and actually got all my money back & credit files fixed in 1 call to Halifax (after 2 years - they had confused statement and payment dates and took full responsibility). Almost all my other creditors eventually accepted my reduced payments and stopped charging interest... even the ones who didn't accept my reduced payments stopped interest.

Now that I'm close to finishing (I'm getting waves of excitement just thinking about it) I'm starting to plan my future and it feels good. No, much more than that, amazing!! To be able to buy something without thinking "Could it wait another month?" or "Will the debit card bounce?" is going to be an great feeling - my glasses are 3 years old. Also, I have MOT'd my car whilst in debt for the last time, scrimped on (most of) my family's birthday presents for the last time and I only have 1 Christmas left to get through until I can say to the better half "Shall we go away for the weekend" or be able to get him a present on a whim.

I now truly understand the value of money. Though it can't make you happy, it can make you comfortable. Equally, it can make you poorer than you ever thought, for longer then you expected.

What I'm trying to say anyone who is considering getting a DMP/Debt Advice or someone who is relatively early on in a DMP is this - it's horrible for you, believe me, I know. But it gets better... much better. Stick with it and when the light at the end of the tunnel is nearing, you'll feel like me... it's a good (if slightly frustrating!) feeling.

I realise this is a really long and egocentric post but I know some people reading this will be feeling as bad, or worse, than I did and I hope that I have adequately explained the fact that your life will improve - in time.

Hi Ben80:)

Great post and not at all egocentric.
I think you did a great job of illustrating exactly the position most people here are (or have been) in at some point.:T
I think it shows great character to be able to share personal thoughts and feelings at arguably the hardest period in your life and with people who are essentially strangers. This is probably down to your obvious pride in having nearly completed something most people can't even admit to in the first place so well done you and good luck.:beer:

2spicy

I guess the yes or no will depend on your questionaire answers, but as you are in a situation where you are about to "fall into difficulty" a DMP might be a good way of drawing a line in the preverbial sand and by giving your creditors the message you want to be debt free.

We were like you in that we didnt have arrears but were about to fall into the put of never ending repayments, so our DMP was kind of a no brainer. We had almost double your debts and started our DMP with repayments of £500 whick was instantly acceptable by Payplan

Longroadahead

2spicy wrote: »

I guess the yes or no will depend on your questionaire answers, but as you are in a situation where you are about to "fall into difficulty" a DMP might be a good way of drawing a line in the preverbial sand and by giving your creditors the message you want to be debt free.

We were like you in that we didnt have arrears but were about to fall into the put of never ending repayments, so our DMP was kind of a no brainer. We had almost double your debts and started our DMP with repayments of £500 whick was instantly acceptable by Payplan

Thank you. Can I ask if you have changed your repayment amount since you started in 09. And also how long did it take for your creditors to accept the DMP and stop chasing payments? I'm not sure whether the fact that I have already moved to repayment arrangements in most cases is a help or a hindrance in setting up the DMP...

2spicy

Longroadahead wrote: »

Thank you. Can I ask if you have changed your repayment amount since you started in 09. And also how long did it take for your creditors to accept the DMP and stop chasing payments? I'm not sure whether the fact that I have already moved to repayment arrangements in most cases is a help or a hindrance in setting up the DMP...

Since starting our DMP, we have increased our replayments to just over £700 a month now. initially the increase was small (£22 in total the first year).
our plan is to increase to £1000 a month within 12 months

It took 6 weeks for all our creditors to acknowledge and accept our DMP, Egg issued defaults immediatly and sold the debt on within 6 months, the rest have just accepted.
MBNA were the dirty ones, calling at all hours, asking for extra payments etc. It wasnt until we played hardball with them and threaten Ombudsman, did they stop.