DMP & Mutual Support Thread - Part 9

Time_to_face_the_music

excited_to_be_free wrote: »

I totally get this. I was too ashamed to even list my creditors. But you will get there. X

We will all get there with each other's support. :j

Suseka

supersavershal wrote: »

I still cannot bring myself to put my debt amount on my signature, I cannot say it out loud. When DH and I discuss it I can only say how much we pay monthly and how long it will take to pay. Im slowly coming to terms with it but its a big figure to accept.

I totally get this - felt much the same when our debts were added up by SC, honestly floored me and I walked around in a bit of a daze for several days. But since then the support on here and non judgement attitudes has allowed me to lift my head up and say.... I'm proud to be dealing with my debt

Time_to_face_the_music wrote: »

I put ours there for inspiration because I love watching it come down each month, it's a real inspiration and very motivating.

Looking now at the figure £81,306 horrifies me, and it was actually more than that, as there was an additional £1038 undisclosed BNPL debt. It was around £25K more than we thought we owed

I am TTFTM and we started off owing £82,344 ....

Go on, it can't be worse than that and even if it is, none of us here judge. It's the fact that it's going down that is important :T

You are an inspiration TTFTM and the person that pointed me over here, and for that I'll be always grateful My start is, at the moment £79,566 - but seeing as we've not actually started the dmp I know it'll go up because that figure includes 5 x credit cards and so with interest and non payment charges, it'll probably be over £80k by the time we start :eek:

Hopelessly_Hopeful wrote: »

Persevere with SC to make sure the budget is realistic and includes everything to allow you a basic standard of living. One of the sad things is they usually will not be transparent about 'allowances' and so you can have people in identical situations with different allowances for food. I was on about a third of what I could have for food at one stage, not good news but sorted now ! DMPs are informal an can be flexible to change for lifes ups and downs yes but in reality they often work at their best when there is not change to kick off computer madness with creditors.
HHx

Got through this morning - phew - they've changed the figures, all bar my OHs salary. We don't currently know just how much it's going to reduce by, so they've advised contacting the tax office to find out what his new tax code for 2013/14 is going to be (will change due to the loss of ALL his allowances...grrr) and then they will be able to calculate what his net pay is likely to be. At least they are giving us some time to sort it.

I agree about the food - they were trying to get us to accept £267 for food, but I pushed it to the max £341. I did so because they've not allowed us the full allowance for our pet insurance (we have four cats) and they didn't even ask about 'meals at work', or 'dry cleaning', or 'newspapers / periodicals'. We don't actually need it, but if I'd have known (hadn't seen the SOA before) I would have asked for it. As you (or is it TTFTM) says, this should be more of a marathon and not a race. When our review comes around next year I'll be a lot more savvy

I'll be posting up my starting debts, as soon as the dmp starts and look forward to seeing the figure reduce month by month.

I'm not bothered about getting calls or letters - because, again, as others have said - they can't have what I've not got.

I just hope the creditors play ball and freeze interest - if not, I'll be jumping back on to ask for any tips on how to persuade them

zenshi

As soon as mine is set up, I will try and a sig with debts on.

I was the other way with food budget when speaking with SC they wanted my food budget to be much higher and said I couldn't live on less than £150 per month for one person! I can.....I have to :eek:

Suseka

Hi Zenshi, nice to meet another starter

I have to admit, had I not spent a good deal of time on here before having 'that' conversation with SC I would have just accepted anything they suggested. But my view was that this has to be affordable -both in terms of having enough to live off, and a good amount to offer creditors so that my DFD is as soon as possible.

Don't get me wrong - I don't mind scrimping, and had my very first experience at Poundland earlier this week (amazed at what you can get there) but any money saved on the grocery budget will be set aside for emergencies. In 4+ years, I'm sure there's going to be a need to dip into that pot at some point.

zenshi

I got the basics off SC but have to do my DMP by myself as apparently I don't have enough spare money for SC to help me!!!

I'm already a Poundland freak as well as car boots etc etc. which in a way is annoying as I can't cut back as I've already cut back

Suseka

Goodness - well good luck with that. I'm sure one of the more experienced folks on here will be able to give you some good advice about that. There's a few of them that have self managed a dmp very successfully.

I'm going to do a clear out of cupboards etc and see what I can sell off on ebay and there's an Aldi near us, so going to check that out too.

I must admit I was very impressed with Poundland. I didn't realise the range of things they sell and proper branded goods too. So I'm going to become a good friend of theirs methinks

Hopelessly_Hopeful

Suseka wrote: »

I totally get this - felt much the same when our debts were added up by SC, honestly floored me and I walked around in a bit of a daze for several days. But since then the support on here and non judgement attitudes has allowed me to lift my head up and say.... I'm proud to be dealing with my debt



You are an inspiration TTFTM and the person that pointed me over here, and for that I'll be always grateful My start is, at the moment £79,566 - but seeing as we've not actually started the dmp I know it'll go up because that figure includes 5 x credit cards and so with interest and non payment charges, it'll probably be over £80k by the time we start :eek:



Got through this morning - phew - they've changed the figures, all bar my OHs salary. We don't currently know just how much it's going to reduce by, so they've advised contacting the tax office to find out what his new tax code for 2013/14 is going to be (will change due to the loss of ALL his allowances...grrr) and then they will be able to calculate what his net pay is likely to be. At least they are giving us some time to sort it.

I agree about the food - they were trying to get us to accept £267 for food, but I pushed it to the max £341. I did so because they've not allowed us the full allowance for our pet insurance (we have four cats) and they didn't even ask about 'meals at work', or 'dry cleaning', or 'newspapers / periodicals'. We don't actually need it, but if I'd have known (hadn't seen the SOA before) I would have asked for it. As you (or is it TTFTM) says, this should be more of a marathon and not a race. When our review comes around next year I'll be a lot more savvy

I'll be posting up my starting debts, as soon as the dmp starts and look forward to seeing the figure reduce month by month.

I'm not bothered about getting calls or letters - because, again, as others have said - they can't have what I've not got.

I just hope the creditors play ball and freeze interest - if not, I'll be jumping back on to ask for any tips on how to persuade them

Well done and glad to hear it. If you want to see how quickly the worm turns ask for the name of who rings and what they are going to do help you with your difficulties in terms of freezing interest etc. you will soon find they want to put the phone down very very quickly


HHx

Hopelessly_Hopeful

Suseka wrote: »

Goodness - well good luck with that. I'm sure one of the more experienced folks on here will be able to give you some good advice about that. There's a few of them that have self managed a dmp very successfully.

I'm going to do a clear out of cupboards etc and see what I can sell off on ebay and there's an Aldi near us, so going to check that out too.

I must admit I was very impressed with Poundland. I didn't realise the range of things they sell and proper branded goods too. So I'm going to become a good friend of theirs methinks

Loyalty to no one, pence per pound/kg to work things out as ever somethings rent good value in aldi etc. they rely on your doing all shopping in one place. Planning is they key for getting more out of it. Can be fun!

HHx

zenshi

Hmm, not sure if this is good or not!

I sent letters to creditors offering token payment and requesting standing order details. I have had a reply thanking me for the letter and with details needed for SO but they go on to say...make sure SO covers minimum payment as stated on monthly statement!

Is this a standard letter sent when accepting token payments, rather than detailing my figure?

Suseka

Mmm - I've yet to experience that (not sent my letter off yet), but I'd guess its a standard letter. Someone will no doubt be along in a minute to advise.

When I send my letters, I'll be sending the token payment with them. At the moment I have a cheque book, but if I didn't then I'd send it with a postal order.

Stick with it - send a token payment, or maybe if you have their payment details from any statements you have etc, you could go into a bank and pay in that way.

Above all, don't be downhearted. The only way is up