before we start our DMP

dfwsometimesoon

U will be advised to include all debts as your soa will not account for any other payments to other creditors plus having some left out off the dmp will prob p off creditors in the dmp if they were to look at credit report and see some debts reporting as normal very unlikely that they will reduce interest etc. if u go ahead with dmp include ALL debts as it kinda defeats the object otherwise. Some of mine are only (i say only lol ) £300 -£400 some are 5k+ but they are all being offered a pro rata payment going on whats available each month, they have my soa and are able to see exactly whats in and out each month and that all other creditors are receiving exactly the same.

Tigsmom

I think the best thing I can do is write down our questions and go back to CCCS. However, after reading your reply we will definately go with the DMP, thanks. One of our debts isn't a debt yet, it's a buy now pay later (dec 2012) with a catalogue when our tv went kaput just before xmas last year. I think if we go ahead with the DMP now we may be able to just pay that bit by bit. I have been feeling guilty about my isa too. Every week I put £15 in it to pay for food and toys for the kids at Christmas but I'm wondering if I should really give it to my creditors. Kids wouldn't be happy with Santa though...

moohound

I think the budget allows reasonable child related expenses, like some toys at Christmas. I now have a budget for fuel where before I would run on fumes for a week

gizmo111

Tigsmom wrote: »

Thank you everyone for being so nice.

It's lack of financial education that got us into this mess. Both of our parents weren't too good with money. I think they should teach schoolkids how to manage money properly. I was only average at maths, I've improved since and now work as a cashier but it's been a long lesson!

We have 6 debts (if you include the o/d) but two of them are only £350 each. Does it fare better if we try to clear these first? My credit card have offered me a 0% transfer. Is it worth transfering my husbands cards (currently 29.9%) ? If I ring my credit card and ask for them to reduce my existing payments to 0% for 6 months instead do I have a chance? (It's a bit cheeky but I'm clutching at straws). Is it worth trying to postpone the DMP as long as possible or is it better to enter into it asap? What are the consequences?

Please post a SOA - and people can advise from there x

Tigsmom

moohound wrote: »

I think the budget allows reasonable child related expenses, like some toys at Christmas. I now have a budget for fuel where before I would run on fumes for a week

Yes our car has turned into a decorative feature in the front garden! My husband has been biking to work for almost a year now and we just use it to collect shopping and occasionally ferry the kids around. It's cheaper than joining the gym though and will hopefully prolong the cars lifespan. I think perhaps I should transfer my Christmas savings to a piggy bank or didlum. That should save any problems.

Gimpsdad

PLEASE include all debts, even the buy now pay later. I understand your confusion as to overdrafts, buy now pay later, etc but the whole of the robbing Peter to pay Paul cycle has to stop, and it has to stop yesterday. If you don't include debts then you are not treating all creditors fairly.

Change your bank, they are not your friends. Anyone living off noodles to keep the likes of Barclays happy ( I chose Barclays because of todays news but they are by no means the worst) has to start again, and has to prioritise their own family over said banks. I hope I am not being too harsh by suggesting that the only reason you are not in arrears is because you have inadvertently prioritised your debts over your family's wellbeing.

Whether you pay over any savings, like as not they won't be that much anyway, is up to you on a DMP.

Whatever happens here, you have taken at the very least a step in the right direction by facing up to things and I wish you all the best.

mum2one

It may sound harsh but you need to put yourselves first, its not as thou your walking away from the debts, your taking them on the chin and making payments, that are suitable to what you can afford, and every creditor is treated equally.

IF you were to go and pay the £350 debt, then that could be seen as being unfair to other creditors as there % of money was taken by card A.

You need to include the buy now pay later, ok at the mo its like a cloud floating in mid air, but soon enough it be in your lap wanting to be paid.

i took some advice from cccs and I have to say it was the best I have had. xx

Tigsmom

I just want to point out that my children have never suffered from this. It's my husband and I that have been living off noodles. The kids have always had healthy food. Any money that we got for birthdays etc went on clothes/toys for the kids and I think we have done quite a good job of not making them feel like paupers. But you are right, I wear spectacles all of the time and have been ignoring reminders to renew my eye test because I can't afford new specs (despite struggling to see properly through the ones I have). We have been shuffling money from the bill account and xmas savings to pay the mortgage and then putting it back when the wages go in. The bills do reduce in summer so we have been able to regain a bit but it's a slippery slope. It's got to the point where I'm hoping that my family will give me some money for my birthday this month so that I can use it to buy my son a bike for his birthday in September.

How do I post a soa? Do I just type it or is there a template I can use on here? Also, once our DMP is in place can we overpay if we have any money leftover at the end of the month? Our current minimum credit payments are £456 but CCCS have calculated that we should pay £161. We were surprised by this but I guess that allows for new specs and maybe we can start eating again and visiting the dentist!:j

dfwsometimesoon

with regards to your specs .... i was in same position so i went to tescos did the free eye test, then told them i didnt have time to choose new glasses at that time and would be back.... i left with my new prescription. Went home and ordered 2 new pairs one from Glasses2you.co.uk (very fast delivery) and one from speckyfoureyes.com (took about 4 weeks from order) for the two pairs I paid less than £35 in total delivered!! much much cheaper than purchasing from the high street opticians!! woman in tescos said all eye tests are now free, im in Scotland so I dont know if that just covers here or across all UK .... hope it helps

Tigsmom

I have been looking into online specs but there are a couple of things holding me back (apart from money, lol). As I wear them all the time they need to be a good fit, also what if they don't suit me once they arrive in the post? It's 5 years since I got the pair I have now. I have changed just the lenses once (it still cost £80!) but these frames are very scratched and bent now and I'm pretty sure I need bifocals as I have started to lift them onto my forehead to read. There are some nice looking glasses online. I wish the opticians would start up a buy now pay later (or installments) scheme.