New Dmp Mutal Support Thread

Sea78

Thanks - thing is, I rang before and then it worked fine, but now doesn't and I think they're closed now. Can never get through when I need to

Sea xx

teecee152

Bummer!!!!

Haven't got any more ideas sorry!!!!!!!

teecee152

Sea - I've just checked their site and they are open til 8pm Mon - Fri.

sparky03

Hi jumps being new to this I was wondering how you go about setting up your diy dmp, any advice is very welcome

yellowmonkey

Hi.
It has been fun reading all the posts especially those regarding the sweets(Nobody remember Jamboree bags!).
I have been constructive today and actually started to take action. I have set the pile of rocks on top of the mountain ready for the avalance.
I have written and sealed in envolopes my token payment for my creditors. Now it is just a matter of posting them and starting the landslide of calls and letters. Wish me luck.

Welcome to all the newbies and I am still waiting for someone older than me to post.:D

Joek_2

sparky03 wrote: »

Hi jumps being new to this I was wondering how you go about setting up your diy dmp, any advice is very welcome

Hi and welcome!

I have to say that even though I'm with CCCS, I did get an awful lot of useful info from nationaldebtline.co.uk - they have template letters, and all the genuinely useful stuff you might need to get yourself started.

sparky03

Hi Joek thanks for your advice I will follow that up

yellowmonkey

sparky03
Not an expert on this I can only go on what happened to me on my first phonecall to Payplan. They went through my Income and Expenditure and worked out a realistic budget for me. You can do one yourself there are loads of helpfull links and advice on this site.
Once you have done all this you will have (Hopefully a surplus). You then need to work out your debts and creditors. Add all your debts together and you will have a total ie£10,000. Then write down total of creditors ,say 5,.You then need to work out a pro rata payment for each creditor depending on the % of debt owed. This sounds complicated but works like this. I will give a imaginary scenario.
Total debt £10,000

Egg card-owed-£3000
Egg loan- owed £2000
Halifax loan-owed£4000
Barclaycard-owed£1000=£10,000

Total surplus after I/E=£240. This is how much you have to spread out between your creditors according to the % of debt owed.

To work out what you can afford to pay each creditor works like this.

Egg card--£3000 divided by the total debt(10,000) then x surplus(240)=£72.

Do this for all your creditors and then send them your offer with a copy of your Income and Expenditure. I do apologise if this sounds complicated and if it is someone will be along shortly to give you the unabridged version

Good luck

YM

yellowmonkey

Joek.
Looks like you posted the unabridged version whilst I was composing my lengthy reply:o

Many thanks

YM

sparky03

thanks yellowmonkey