DMP & Mutual Support Thread - Part 8

Hopelessly_Hopeful

lizzy23 wrote: »

i made tokens for a month and stuffed the £500 that i would have spent on the cards in a savings acount, and its still there, my car did need some repairs last weekend, but i managed to pay for it cash

That's good to hear Lizzy.

I always feel better when I have some reserve, daft as it sounds it doesn't feel as painful to be frugal then either!!

HHx

Hopelessly_Hopeful

grant1wish wrote: »

Hi all,

I am nervous about anything going wrong as I didn't. Wait a month before starting the dmp. I have no savings at all!

£666 first payment to cccs 1st nov. Perhaps I should have. Waited a month. That would have been a nice cushion.

G1W

I think you had enough on this month. If it hits the fan you can ask for budget adjustment. Are things any better at home?

HHx

grant1wish

Hi

I am brassic this month, but roll on november.

Things terrible at home. Wife feels she will never trust me again. Can't blame her. Not sure the dmp will ever bring us closer like so many suggested. I find it very hard to have any conversation with it blowing up. The settee is my new bed for the time being.

G1W

antonic

grant1wish wrote: »

Hi

I am brassic this month, but roll on november.

Things terrible at home. Wife feels she will never trust me again. Can't blame her. Not sure the dmp will ever bring us closer like so many suggested. I find it very hard to have any conversation with it blowing up. The settee is my new bed for the time being.

G1W

It must have come as a shock to here, to find the amount of debt your in, BUT the important thing is your dealing with it.

Give it time, THEN make a decision, dont rush into something you may later regret.

Hopelessly_Hopeful

grant1wish wrote: »

Hi

I am brassic this month, but roll on november.

Things terrible at home. Wife feels she will never trust me again. Can't blame her. Not sure the dmp will ever bring us closer like so many suggested. I find it very hard to have any conversation with it blowing up. The settee is my new bed for the time being.

G1W

Still early days.

Presumably the money wasn't just for you?

I do not mean to sound rude but where did she think the money was coming from? Even if you were just victim of unmangeable interest rates it's still a joint responsibility.

Hope it gets easier for you.

HHx

alyxzandra

Our debt is due to two big things....cowboy builders who ran off with the money we set aside for our extension and leaving it open to the elements. And helping my double amputee mother. In other words, saving her from a shark of a solicitor in the U.S. By the time the dust settled we owed £60,000. Got everything down to £46,000, but we have been struggling as all the interest rates went up, a pay freeze since 2009 and food as well as fuel skyrocketing.

I had a LBM months ago, but my husband resisted. This month when I got paid the overdrafts ate everything up and we were left with little money from my salary and I am the main breadwinner. That was his LBM.

We are now starting our DMP with CCCS. Sent all our letters and token payments out. We also put away a slush fund. What a relief. We were always careful with how much we spent (thanks MSE!) so the money we have been allocated is more than what we normally had left without the DMP. We've been told it will be 5 years for our DFD, but two things we are paying out on our priority spend totaling £155 a month will drop off this time next year. So, hopefully we will be out of it sooner.

I feel relieved my husband finally agreed this is what we need. We've had no life, sleepless nights and worry for the last 3 years. My mother is now sorted and we have to still send her money each month, but she is now in a cheaper place and we do not need to send her as much money as we did before. So, now just waiting to see if all of our creditors will accept the DMP.

We owe Halifax (credit cards, loan and overdraft), Natwest, HSBC (overdraft and loan), Tesco, BT, Barclaycard and Creation. Halifax wanted us to go on on a DMP after going through our finances, so I am hoping they will work with us on the interest.

We will be paying £723 a month towards our debts, so I am hoping they will accept our DMP.

sickasachip13

grant1wish wrote: »

Hi

I am brassic this month, but roll on november.

Things terrible at home. Wife feels she will never trust me again. Can't blame her. Not sure the dmp will ever bring us closer like so many suggested. I find it very hard to have any conversation with it blowing up. The settee is my new bed for the time being.

G1W

Sorry to hear this G1W. You can only tackle one significant thing at a time though, and you are tackling this debt. It is really early days and things are bound to be stressful and, I think, debt does tend to drive a wedge between people and breeds distrust. Would you both be willing to go for couple's counselling or similar? It might help get everything out in a more controlled way? Then you can consider the facts of the situation and make decisions based on them. Sometimes it is the debt that is making couples really unhappy, sometimes the debt might simply be masking other issues.

Hope things settle down soon.
SAACx

tiredmumof2

I love this forum, its great to see all the positive responses- especially those members who only have a few payments left or are already DF.

This is where I start to feel depressed- our DFD is Sept 2024!!!!

We're paying £374 a month on our DMP with CCCS and were JUST managing each month. I'm not sure where we're going wrong as we're paying all our essential bills, mortgage and we're lift sharing now this is cutting down on our fuel costs (we both work approx 30 miles from work) and we're left with very little left at the end of each month.

I'd love to pay our debts off earlier- but I suppose I knew we'd be in this for a long run and just need to accept it and continue with our DMP payments.

Sorry for whinging on - having a 'down in the dumps' day.

Time_to_face_the_music

antonic wrote: »

Today is date that I had my last alcoholic drink exxctly one year ago, to celebrate my 45th birthday.

Today, I am celebrating at home with a 12" Asda thin crust meat feast pizza and some pepsi max !

I sure now how to party dont I ? (I will also be DF on 2/12/2012 !) so I may REALLY celebrate by having a cake as well ! )

(My family arent avoiding me as my dad is on holiday and my brother & sister live miles away from me, but they have sent me cards and I have spoken to them already).

Happy Birthday Antonic :bdaycake:

Time_to_face_the_music

Hopelessly_Hopeful wrote: »

.


Individual choice.... but I'd do a couple of months of tokens but you must be disciplined with the emergency fund.



Good luck whatever you decide

HHx

With hindsight, (ain't it a marvellous thing), we would have done this too. We jumped in with both feet and started up a DMP in about a week, making two payments in the first month. Yes it's great because your debt starts decreasing quickly but there is no plan B if anything goes wrong.