DMP & Mutual Support Thread - Part 8

Time_to_face_the_music

Hopelessly_Hopeful wrote: »

Things will go wrong from time to time. You can always have budget review and reduce payment etc...... but....... DMP's appear to work best when there is the least amount of change, otherwise mindless computer madness kicks off.

Budgetting for most is very challenging at the start. Will be good to have a wee cushion.

Good luck

HHx

Another reason for a month or two of token payments, it gives you a chance to practice your budget and make sure it's correct.

Can you hear an echo in here? :rotfl:

sickasachip13

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).

Time_to_face_the_music

alyxzandra wrote: »

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.

Hi alyxzandra :hello:

You sound like you have been having a rough time of it so fingers crossed for everything working out on your DMP.

Please stick around for any support you need on your debt free journey

Time_to_face_the_music

tiredmumof2 wrote: »

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.

Don't be sorry, support is what this thread is all about. If that means have a whinge or having a rant, we will be here to listen to you.

Are you sure you got your budget correct with CCCS? Has anything gone up since you set it? Don't leave yourself struggling, if it needs adjusting so you have a little more money, let CCCS know the reason and ask can you change it.

I know 2024 sounds like a long time off but I always think that before we started our DMP, we never paid anything off our debts and they actually increased each month so we never got anywhere. At least this way you have a target date and you never know what happens along the journey that may bring it closer.

Keep your chin up and you know where we are when you need some support any time

grant1wish

Thanks everyone

I am sure wife and I will sort out our problems once the dmp settles down. Just so stressful at the moment. Still dread evrytime the phone rings or the post is delivered. Main issue for ny wife is not being able to move house for the next 15 years. Once defaults are applied I think it is at least 6 years till cleared. I am going to have 3 late teenagers sharing. OMG! Do you guys think we will be able to get a new mortgage at some point or will I now be scarred for life credit wise?

Stand_Fast

Hi everyone, hope your all having a relaxing weekend

Just had a strange experience setting up my new account internet banking facility.............. went straight to the savings products! now thats a real LBM for me.

Token payments sent and cashed, phone calls petering out for now.

All the best

Stand Fast

Stand_Fast

grant1wish wrote: »

Thanks everyone

I am sure wife and I will sort out our problems once the dmp settles down. Just so stressful at the moment. Still dread evrytime the phone rings or the post is delivered. Main issue for ny wife is not being able to move house for the next 15 years. Once defaults are applied I think it is at least 6 years till cleared. I am going to have 3 late teenagers sharing. OMG! Do you guys think we will be able to get a new mortgage at some point or will I now be scarred for life credit wise?

Hi G1W I believe there are several mortgages available for those of us with challenged credit ratings, however they are usually only available through whole market brokers, if you have a look at the mortgage boards they may be able to give more appropriate advice - from what I can work out it depends on passage of time since default (2/3/4/ years etc) and whether satisfied or not.

All the best

Stand Fast

Growurown

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 !.

Enjoy your day antonic:j

Growurown

grant1wish wrote: »

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.

Hi G1W - Sorry to hear that things at home are so bad and it is hard to resolve anything if you can't even talk without it turning into an argument. I hope things start to get better for you both soon.

tiredmumof2 wrote: »

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.

Hi tmo2 - oh yes those down in the dumps days, they come round every so often don't they? Whinge away, I think we can all sympathise with you here!

tiredmumof2

Sorry it's me again,

Hubby opened his mail (I don't like opening mail addressed to him) and its from HSBC demanding we pay back our overdraft (1500) within the next 18 days or they will take action against us through a debt collector or solicitors! I feel physically sick!

I've phoned HSBC but the office is not open and I now have to wait until Monday before I can speak with anyone about the demand.

Has anyone else experienced this with HSBC? I'm sitting here crying my eyes out.

Thanks everyone - this really has been a completely cr**py day :0(