DMP & Mutual Support Thread - Part 9

dmb_2

Time_to_face_the_music wrote: »

NED CAB is a fully online self managed DMP, you don't need to speak to anyone to use their system.

To use CASHflow, you need to speak to an approved debt advisor. From their website:

"You can contact a local advice agency to check if they offer CASHflow. You can find a list of free advice agencies that are near to you by searching for a money adviser in England or Wales, Scotland, or Northern Ireland.
Alternatively, you can call National Debtline on 0808 808 4000."

I thought the links showed you lists of localities of approved advisors but when I click on them, I get a link to the Ministry of Justice and legal advisors/family mediators!

I think it's PinotGrigio41 who uses Cashflow but HH will correct me if I am wrong. You could try sending her a message via her diary.

Thanks. Knew I could count on you and HH. Think, if I'm going to go self-managed (which is likely), I will go with NED CAB rather than through advice agency.

Thanks once again.:)

ArtyMiddle

Hello there :hello:

Finally we are taking steps to manage and reduce our debt! :T

Over the past 5 years our debt has spiralled owing to me being the main breadwinner and being on maternity leave (with 2 prematurely born children). Prior to that we had both worked been spending like there was no tomorrow on various credit cards, loans, hp etc..

We started living off a NatWest Private (Black Account) charge card. In the end we were having to draw £5,400 cash off the charge card to pay back into my bank account to pay the charge card. The cash fees (although no interest) were spiralling each month and we had got into a ridiculous situation robbing from one of the many "Peter's" to pay one of many "Paul's".

Despite me earning over £65,500 I literally had £10 spending money a month after making sure we had paid our creditors each month, with £250 for food, that was it.

Our DMP with StepChange totals £55,959 :eek: starts on 1 May (first SC payment on 10 May) and our DFD is April 2020. I cannot believe how much money we will now have to live off, even building a emergency fund.

I am truly ashamed of my debts and look forward to being able to enjoy life, do things with my husband and children and have more positive outlook. I have had some very dark days.

Time_to_face_the_music

ArtyMiddle wrote: »

Hello there :hello:

Finally we are taking steps to manage and reduce our debt! :T

Over the past 5 years our debt has spiralled owing to me being the main breadwinner and being on maternity leave (with 2 prematurely born children). Prior to that we had both worked been spending like there was no tomorrow on various credit cards, loans, hp etc..

We started living off a NatWest Private (Black Account) charge card. In the end we were having to draw £5,400 cash off the charge card to pay back into my bank account to pay the charge card. The cash fees (although no interest) were spiralling each month and we had got into a ridiculous situation robbing from one of the many "Peter's" to pay one of many "Paul's".

Despite me earning over £65,500 I literally had £10 spending money a month after making sure we had paid our creditors each month, with £250 for food, that was it.

Our DMP with StepChange totals £55,959 :eek: starts on 1 May (first SC payment on 10 May) and our DFD is April 2020. I cannot believe how much money we will now have to live off, even building a emergency fund.

I am truly ashamed of my debts and look forward to being able to enjoy life, do things with my husband and children and have more positive outlook. I have had some very dark days.

Hi ArtyMiddle and welcome :hello:

So much of your story sounds very familiar to me, I was where you are now just 15 months ago.

Please don't be ashamed of your debts, be proud that you are doing something to combat them.

I found this thread a real lifesaver and hope it's useful to you too, so stick around for any advice, help and support you need.

ArtyMiddle

ArtyMiddle wrote: »

Our DMP with StepChange totals £55,959 :eek: starts on 1 May (first SC payment on 10 May) and our DFD is April 2020. I cannot believe how much money we will now have to live off, even building a emergency fund.

I meant here I can't believe how much "real" money we will have to live off on the DMP. It is going to feel really weird. Though I am totally prepared for a bumpy ride as the DMP starts.

Hopelessly_Hopeful

ArtyMiddle wrote: »

Hello there :hello:

Finally we are taking steps to manage and reduce our debt! :T

Over the past 5 years our debt has spiralled owing to me being the main breadwinner and being on maternity leave (with 2 prematurely born children). Prior to that we had both worked been spending like there was no tomorrow on various credit cards, loans, hp etc..

We started living off a NatWest Private (Black Account) charge card. In the end we were having to draw £5,400 cash off the charge card to pay back into my bank account to pay the charge card. The cash fees (although no interest) were spiralling each month and we had got into a ridiculous situation robbing from one of the many "Peter's" to pay one of many "Paul's".

Despite me earning over £65,500 I literally had £10 spending money a month after making sure we had paid our creditors each month, with £250 for food, that was it.

Our DMP with StepChange totals £55,959 :eek: starts on 1 May (first SC payment on 10 May) and our DFD is April 2020. I cannot believe how much money we will now have to live off, even building a emergency fund.

I am truly ashamed of my debts and look forward to being able to enjoy life, do things with my husband and children and have more positive outlook. I have had some very dark days.

Welcome Artymiddle

We've all been there. As Ms TTFTM says no need to be ashamed. When I go through that stage (it still comes back occasionally) I start thinking about all the interest and charges I have made over the years.

It's all about moving forwards, onwards and upwards and all that.

Good luck with the start up.

We are all here for you.

HHx

Julie67

Morning all,

Welcome Arty, you will love it here. Be proud you've finally seen the light.
Hope everyone is well. I'm waiting to hear about the job interview. They have more or less said they want me, just checking references and CRB, so hope to be out working very soon.
Dh is still very quiet work wise so this month has been a real struggle. We are paying such a small payment to SC at the moment I am desperate to up it and start making headway.
Made around £100 on eBay this week so that should help, better than nothing.
Bye for now

Mossop01

Welcome artymiddle, ur not alone and the support from here really does help, good luck on ur journey x

Hopelessly_Hopeful

Julie67 wrote: »

Morning all,

Welcome Arty, you will love it here. Be proud you've finally seen the light.
Hope everyone is well. I'm waiting to hear about the job interview. They have more or less said they want me, just checking references and CRB, so hope to be out working very soon.
Dh is still very quiet work wise so this month has been a real struggle. We are paying such a small payment to SC at the moment I am desperate to up it and start making headway.
Made around £100 on eBay this week so that should help, better than nothing.
Bye for now

Oooooo promising news. Still got everything crossed for you.

Debt busting is addictive isn't it?

Two days to payday for me and I am itching to be at the spreadsheet!

HHx

murph_avfc

Hopelessly_Hopeful wrote: »

That must have been a bit of a shock

When you say it was £300 - was that information from the CRA report or the statement?

This is why some of us insist on statements and keep our own records, no surprises etc.

Please let us know how you get on

HHx

Thanks for your response. :beer:

I haven't got the information to hand at the moment, but I know the loan was around the £200 mark, interest took it to £300, it now seems to have exploded in the last month (according to the graph on mycreditcheck) by over £500!

Just want to know really, do I fight this, or do I ask StepChange to ask about it all?

Hopelessly_Hopeful

murph_avfc wrote: »

Thanks for your response. :beer:

I haven't got the information to hand at the moment, but I know the loan was around the £200 mark, interest took it to £300, it now seems to have exploded in the last month (according to the graph on mycreditcheck) by over £500!

Just want to know really, do I fight this, or do I ask StepChange to ask about it all?

SC are unlikely to have the information

The point is where did you see the £200-300 ? Sounds like you are relying on your credit report rather than statement from creditor. This can be incorrect.

You need to have the statement with breakdown of charges from the creditor so suggest you request this in writing

Good Luck

HHx