Didnt think I wanted a DMP, but think I might now

monday_blues

HI POO, I know its a pain paying council tax over 12 when everyone else gets 2 free months, but hey thats the way it had to be. Sorry if I didnt explain properly but cccs indicated that at present I cant sustain minimum payments to creditors so they would suggest either a dmp, or self managed dmp, or das. I am having a bit of a wobble, need to speak to husband about this as it sounds so final and so severe. Apparently the das thing is for scotland and protects the property more, more like a dmp than an iva, but is run by local councils, and protects you against creditors should they try and take further action/court etc. Need to look into that too though.

Have tonight spoken to Santander to explain situation re: outstanding loan, they offered either 1/2 payments for 3 months - but then need to repay the arrears or renegotiate, or re-financing the loan for longer period which would reduce payments. Currently 2 years left, but even if could refinance to 4 or 5 years would still be less than term of a dmp. Spoke to intelligent finance too to see if anything they could do to help but haha, their arrangement repayment is the same as the minimum payment, so a no-goer there!

We dont really want to move anyway tbh, but the outlay to try is too much risk given the delicate position we are in.

I will try and do a deal for phone/satellite/mobiles, the mobile gives free broadband, but will defo reduce the package down. am with bt for phone, but plan on changing this - to who i dont know yet. the mobiles are in contract but will phone orange and speak to them about it.

Thanks again, wot do you think

Poosmate

monday_blues wrote: »

HI POO, I know its a pain paying council tax over 12 when everyone else gets 2 free months, but hey thats the way it had to be. Do you always have to pay over 12 months or is it just because you have arrears? Would you be paying over 10 from the next financial year (from April) or is that just an English thing?

Sorry if I didnt explain properly but cccs indicated that at present I cant sustain minimum payments to creditors so they would suggest either a dmp, or self managed dmp, or das. Ahhh ok. I am having a bit of a wobble, need to speak to husband about this as it sounds so final and so severe. It's a big decision and one that shouldn't be entered into lightly and you both need to be comfortable with it. Apparently the das thing is for scotland and protects the property more, more like a dmp than an iva, but is run by local councils, and protects you against creditors should they try and take further action/court etc. That sounds reassuring on the face of it but do ----> Need to look into that too though.

Have tonight spoken to Santander to explain situation re: outstanding loan, they offered either 1/2 payments for 3 months - but then need to repay the arrears or renegotiate, or re-financing the loan for longer period which would reduce payments. Currently 2 years left, but even if could refinance to 4 or 5 years would still be less than term of a dmp. I take it you mean your mortgage? If so would that free up £325pcm for 3 months or are you referring to a single element of your mortgage (I know you said there were 4 elements to it). If I remember correctly, didn't you say you have some of it on 0% or low % and would you lose that offer if you took a half payment break for 3 months?

Spoke to intelligent finance too to see if anything they could do to help but haha, their arrangement repayment is the same as the minimum payment, so a no-goer there!

We dont really want to move anyway tbh, but the outlay to try is too much risk given the delicate position we are in. I think you already knew that anyway.

I will try and do a deal for phone/satellite/mobiles excellent!, the mobile gives free broadband, but will defo reduce the package down excellent!. am with bt for phone, I'm on BT Together (or whatever it's called now, I get free calls evenings/weekends up to 1 hour and I pay £12pm) are you on the right package? but plan on changing this - to who i dont know yet. the mobiles are in contract but will phone orange and speak to them about it excellent!.


Thanks again, wot do you think

Sorry for all the questions! You may notice I put a few comments in red.

Do you have a pc or a laptop for the internet or you just use your mobile phones?

I have a pretty good tv/int/phone bundle with Virgin for £41.90 but I believe that price will fall as they are bringing their broadband speed up for all customers. Apparently they can't make mine faster so they'll reduce the price of it (alegedly). I never use their landline and they couldn't offer me any better deal than BT for the phone and if I drop the phone I drop a tv package and have to pay more to get the internet and tv without the phone (utter madness and quite confusing but there you go - think they're competing with fuel utilities to see who can bamboozle the public the most with complicated packages and tariffs!).

My Virgin bundle is one of my guilty pleasures, I live extremely frugally in other areas so I deserve it. I also know that if push come to shove I could downgrade. It makes my many years of paying off my debt more bearable.

I work all day so the BT package suits me down to the ground, I rarely have fee bearing phone calls on my bill. I call family after 7pm for free and sometimes mom and I are on the phone for almost an hour.

So, for £53.90 I have a large tv package, fast BB internet and 2 landlines. You are currently paying £90?

If I were you, I would honestly be looking at the first SOA you posted because I think in reality it is workable and you can reduce your outgoings on it to cover the shortfall.

The CCCS one, I don't know, I just think some of the figures are lala land - like when you're in debt are you seriously going to spend £60 every month on clothes? You make do and mend and grab whatever comes your way (within reason). If you are offered something see it as a gift not charity - don't show humbly grateful, show happily pleased to accept the gift. Horror works too - You can't chuck that out!!:eek: You've only worn it twice!!!

Lost my train of thought now so will re-read and if you're unlucky may post again! lol

Poo

monday_blues

Poosmate wrote: »

Sorry for all the questions! You may notice I put a few comments in red.

Do you have a pc or a laptop for the internet or you just use your mobile phones? Yes have laptop, we have a deal with Orange where they give free broadband because we have been with them for so long, so free home internet, albeit mobile bills need a bit of tweaking.

I have a pretty good tv/int/phone bundle with Virgin for £41.90 but I believe that price will fall as they are bringing their broadband speed up for all customers. Apparently they can't make mine faster so they'll reduce the price of it (alegedly). I never use their landline and they couldn't offer me any better deal than BT for the phone and if I drop the phone I drop a tv package and have to pay more to get the internet and tv without the phone (utter madness and quite confusing but there you go - think they're competing with fuel utilities to see who can bamboozle the public the most with complicated packages and tariffs!). Wow that's crazy, it is all so complicated, think they like it that way! I would love to go with Virgin but we can't get it, so we are with Sky for tv and BT for landline. Was thinking of asking Sky how much for phone incorporated into package too? (although really hate sky tbh)

My Virgin bundle is one of my guilty pleasures, I live extremely frugally in other areas so I deserve it. I also know that if push come to shove I could downgrade. It makes my many years of paying off my debt more bearable. I totally get you!

I work all day so the BT package suits me down to the ground, I rarely have fee bearing phone calls on my bill. I call family after 7pm for free and sometimes mom and I are on the phone for almost an hour.

So, for £53.90 I have a large tv package, fast BB internet and 2 landlines. You are currently paying £90? TBH we seldom use landline, except for phoning these banks/credit cards and bills that need paid, all seem to be 0800 or 0845 numbers, our bill was £105 quarter, and honestly don't "chat" to anyone. What channels do you get with phone package Poo?

If I were you, I would honestly be looking at the first SOA you posted because I think in reality it is workable and you can reduce your outgoings on it to cover the shortfall.

The CCCS one, I don't know, I just think some of the figures are lala land - like when you're in debt are you seriously going to spend £60 every month on clothes? You make do and mend and grab whatever comes your way (within reason). If you are offered something see it as a gift not charity - don't show humbly grateful, show happily pleased to accept the gift. Horror works too - You can't chuck that out!!:eek: You've only worn it twice!!! ha ha you've obviously had a bit of practice at this part. I know what you mean though, on one hand its workable, but then some bill comes in that's unexpected or something else happens and we're stuck again....

Lost my train of thought now so will re-read and if you're unlucky may post again! lol hope you do, have loved the chat and advice. Cheers x

sickasachip13

Hi MondayBlues,
Have you looked at the DMP Mutual Support Thread - you may find some answers to your questions/concerns there. I did a short blog about going on a DMP - CCCS asked me too - it can be found by googling the info in my sig.
In terms of the allowances, we were amazed at what we were allowed for some things, stuff we didn't buy really, but our pet costs were higher than allowed so we put down £5 a week for newpapers/magazines to offset this. Also, we went in with higher allowances but actually we've got used to living on the reduced amounts and reduced our outgoings and have raised our DMP payment three times in the past 16 months. This has worked well and seems to keep the creditors fairly quiet *touches wood*
Best of luck
SAAC

monday_blues

sickasachip13 wrote: »

Hi MondayBlues,
Have you looked at the DMP Mutual Support Thread - you may find some answers to your questions/concerns there. I did a short blog about going on a DMP - CCCS asked me too - it can be found by googling the info in my sig.
In terms of the allowances, we were amazed at what we were allowed for some things, stuff we didn't buy really, but our pet costs were higher than allowed so we put down £5 a week for newpapers/magazines to offset this. Also, we went in with higher allowances but actually we've got used to living on the reduced amounts and reduced our outgoings and have raised our DMP payment three times in the past 16 months. This has worked well and seems to keep the creditors fairly quiet *touches wood*
Best of luck
SAAC

HI, thanks for the advice, I also think the allowances seem quite generous, although its the reality of celebrations, things you need to attend i.e. christenings, weddings, parties etc and gifts I think that really eat up our money, and is a real worry if no emergency credit there to fall back on. However, I know now that's not the way to live either....still to decide dmp, das, try to negotiate with creditors - such a big decision, think it will be next week b4 make a final decision. In the meantime reading loads of posts on here and welcome anyone's opinion on all this. thanks again, x