Paid off £10.000 since start of dmp but feeling low

matty2712

david01010 wrote: »

Omg! I am rubbish at this! Triple post. Read a few of your posts and see that you started with a lot more debt. Thought you started at 25,000! That explains that then. : )

Welcome david01010

Firstly I would like to say that everyone on these boards are very friendly and helpful, i havent come across anyone with a bad word to say as yet.

you have come to the right place, there is so much info on this forum, and you get your way through it.

I had my lightbulb moment (LBM) just last week and have started the ball rolling. At first myself and Other Half (OH) were in a mess and didnt know what to do which way to turn. Then I arrived at this site and havent looked back.

I am in the process of dealing with CCCS, i have had many a conversation with them, 2,3 sometimes 4 times a day, and on every occasion they welcome you with open arms, They have dealt with thousands of people just like ourselves.

My DMP, will start in Oct and have given me a date of 2 yrs 9 months to be DF, and that will be paying off £39589 worth of debt, I am however going to start selling things that i no longer use to pay extra into the plan.

Any questions/queries dont hesitate to ask

Jane91

Always use the CCCS consumer credit counselling service, there free, always there and fantastic

Mrs_Arcanum

You are doing brilliantly. Burning a candle occasionally on the way to the light at the end of the tunnel is no bad thing and can keep you going when it gets wearisome.

One thing to consider is that your credit will be trashed for 6 years anyway so taking a little longer to pay things off shouldn't worry you too much.

If it is any consolation, you are paying off more than I earn a month.

dazla

david01010 wrote: »

Hello Dazla.

Newbie to the site, but not to debt. I saw your post and see that you are in the same situation as me. Same amount of debt ( ish ). And I'am considering taking out a DMP because I just can't live like I am anymore.

Can you tell me if the interest on all your debts was removed??? So are you just paying the outstanding amounts? Who did you set up the DMP with. Were they any good? 650 pounds seems a lot to me. 650 x 48 = 31000 ish! Did you offer to pay that or is that what was asked??

I don't know how any of this debt repayment stuff works. Was gonna start a new thread but didn't want to get told that the information is here if you only looked!

Also can you remember what it was like when you were making the repayments and getting no where with the debt?? Cause that is pretty much where I am!! So it sounds like a struggle but at least you have a light at the end of the tunnel.

:T

Hi

Not all interest has been removed, most has but I needed to keep on top of some of the cc companies, as a few started to add the interest back on, but after a few phone calls they take it of off again, this seems to happen in 6 monthly cycles. Most of the interest is against my outstanding barclay loan, tho it is reduced interest. So for most of the debt i am paying off just the outstanding debt. When i started the plan, my debts were approx £35.000. I started the dmp with payplan who have been great. They didn;t make me feel bad when i talked about my situation like some of the fee paying companies did. The £650 was an amount that we agreed upon after i filled out an income & expenses form, which after completing came up with an amount available for debt repayments, which was the £650 per month. To be honest i buried my head in the sand for years with my debts, wish i had done a dmp earlier. At one stage it was so bad I was taking money of my credit cards to pay other credit cards and bank charges. at one point i was taking £400 a month of my cards in cash to keep the minimum payments going. I felt physically sick all the time, i resorted to selling my furniture and clothes to keep going. I also went hungry for a few weeks too, just living on bread, cheese and cornflakes and chips, until i was paid, because i literally ran out of money at the end, all my cards were maxed out and i was over my overdraft limit. i was getting nowhere with the debt, so do seek help, it will be the best thing you ever do.