DMP & Mutual Support Thread - Part 8

sickasachip13

"My question is in these circumstances is it acceptable for us to squirrel it away to build up to enough to settle one of the debts. I know if we can pay the catalogue off by the end of August £1300ish that it will prevent £800 of buy now pay later interest being applied. Or do I have to squirrel and then pay a lump sum to Payplan to spread across my creitors as they suggested every 6 months?" Wannabefree1.

Hi, it's difficult to say what's 'acceptable'... for us DMPers, for you and for your DMP provider, the definitions might be different! Anyhow, I'd say it would be totally acceptable for you to build up an emergency fund using this money and, I'm sure, Payplan would feel the same. After all, at this point the extra work isn't guaranteed (although long may it last) and you do need to build up a buffer for emergencies.

Now, if that emergency fund builds up to the stage where it could potentially pay off the catalogue in August, there's a slightly different issue I guess and there's conflicting info from various DMPers on this. Sometimes DMP providers seem to say to spread it out across the creditors, other times the provider okays that it can be used to clear one debt. CCCS okayed us to do F&Fs with two creditors (although we did start the process off without their knowledge), using small sums of money which, to be honest, if they'd been spread across the creditors would ahve amounted to pennies. Also, when I sold my car, CCCS told me to keep that money as an emergency fund.

I think I'd view it as an accumulating emergency fund for now and see where you are in a few months time.

typhoo_2

Hi all,

Need a bit of advice please.

How many times can a creditor default you? Just once, or every month?

Thanks,
Typhoo

Hopelessly_Hopeful

typhoo wrote: »

Hi all,

Need a bit of advice please.

How many times can a creditor default you? Just once, or every month?

Thanks,
Typhoo

Once, sooner you get it the better as the clock starts ticking!

HHx

zoey86

typhoo wrote: »

Hi all,

Need a bit of advice please.

How many times can a creditor default you? Just once, or every month?

Thanks,
Typhoo

Hey Typhoo,

Be careful some people get a 'Default Sum Notice' and think this is a default notice. It is actually a charge for paying late or a similiar charge.

Zoey

ianmak

Hopelessly_Hopeful wrote: »

Well done Ian.

Is the flat up for sale? Is this GF time?

HHx

It's going up for sale on the day of our anniversary (I hope).

In true DMP/money saving style...

I'm gonna use a Conveyancer instead of a Solicitor (if it sells!).
Use a glazer to replace the windows.
Use the remnant shop next to me for very cheap carpets.

All I need to sort now is the emersion heater on the cheap and I'll be laughing...

The only thing is I won't be able to rent it out for the olympics, unless it hasn't sold by then (only 45mins from Stratford)...

Hopelessly_Hopeful

ianmak wrote: »

It's going up for sale on the day of our anniversary (I hope).

In true DMP/money saving style...

I'm gonna use a Conveyancer instead of a Solicitor (if it sells!).
Use a glazer to replace the windows.
Use the remnant shop next to me for very cheap carpets.

All I need to sort now is the emersion heater on the cheap and I'll be laughing...

The only thing is I won't be able to rent it out for the olympics, unless it hasn't sold by then (only 45mins from Stratford)...

Ah more lovely news! I am a sucker for romance.

May be worth checking with local estate agents if you haven't already. Sometimes you don't get any extra cash for spending the money. Also have you considered renting out?

Good luck.

HHx

sickasachip13

Ooh, I made last night's family meal for less than a quid and it did my lunch today as well. I'm impressed with myself.

Also, fellow DMPers, I just bought a tub of multivits for 1p - using the code on this thread:

https://forums.moneysavingexpert.com/discussion/3741367

From Syncrohealth.

Lord knows my body needs all the help it can get in January.:rotfl:

secretshopper75

sickasachip13 wrote: »

Ooh, I made last night's family meal for less than a quid and it did my lunch today as well. I'm impressed with myself.

Also, fellow DMPers, I just bought a tub of multivits are 1p - using the code on this thread:

https://forums.moneysavingexpert.com/discussion/3741367

For Syncrohealth. Lord knows my body needs all the help it can get in January.:rotfl:

Wow, well done, what did you have to eat?

sickasachip13

I found a large bag of fresh pasta in the local co-op, reduced to 25p, then I used <all value/discount> an onion, three cloves of garlic, used some caulifower (and stalk), some strips of cabbage, a tin of chopped tomatoes (18p), a pinch of oregano, salt and pepper, a small amount of olive oil and a spoonful of natural yoghurt. Boiled the pasta, fried up the onion, then the garlic, then the cabbage went in, I blitzed the cauli stalk and bits of head in the micro for two mins and drained, chucked that in, then in with the tin of toms, boiled it up like crazy for five mins, let it cool a mo, chucked in the yoghurt then blitzed with the hand blender, drained the pasta and chucked it in and coated it with the sauce.:j

secretshopper75

sickasachip13 wrote: »

I found a large bag of fresh pasta in the local co-op, reduced to 25p, then I used <all value/discount> an onion, three cloves of garlic, used some caulifower (and stalk), some strips of cabbage, a tin of chopped tomatoes (18p), a pinch of oregano, salt and pepper, a small amount of olive oil and a spoonful of natural yoghurt. Boiled the pasta, fried up the onion, then the garlic, then the cabbage went in, I blitzed the cauli stalk and bits of head in the micro for two mins and drained, chucked that in, then in with the tin of toms, boiled it up like crazy for five mins, let it cool a mo, chucked in the yoghurt then blitzed with the hand blender, drained the pasta and chucked it in and coated it with the sauce.:j

Wow...think you ought to start a cook book