DMP & Mutual Support Thread - Part 9

Hopelessly_Hopeful

Find_The_Real wrote: »

Ok shameless post in the DMP thread but as everyone has been so supportive on here, I just wanted to share my good news that my F&F IVA has been accepted today, which is a huge relief!

Not debt free by a long shot but as my creditors are now the bank of M&D under much more favourable terms and at a much reduced amount from the £61K the debts and house repossession finally came in at, finally after 19 months of dealing with it all I can move on.

I just wanted to thank everyone for their support and encouragement on this board, and I hope to continue to offer advice on DMP's, repo's and IVA's which are now my specialist subjects.

You know what I may even miss those DCA's!

Thanks for sharing. Welcome to the next chapter, am really pleased you are a step closer to getting sorted out.

How long to pay Bank of Mum and Dad off?

HHx

Time_to_face_the_music

Find_The_Real wrote: »

Ok shameless post in the DMP thread but as everyone has been so supportive on here, I just wanted to share my good news that my F&F IVA has been accepted today, which is a huge relief!

Not debt free by a long shot but as my creditors are now the bank of M&D under much more favourable terms and at a much reduced amount from the £61K the debts and house repossession finally came in at, finally after 19 months of dealing with it all I can move on.

I just wanted to thank everyone for their support and encouragement on this board, and I hope to continue to offer advice on DMP's, repo's and IVA's which are now my specialist subjects.

You know what I may even miss those DCA's!

Fantastic news FTR :j

Time_to_face_the_music

Hopelessly_Hopeful wrote: »

Hello to all the newbies. Lots of lightbulbs going off this week!

40 payments in and I still get excited on payday and updating the debt owed and time left in my signature. Made it to >80% paid back and have started the 10 month countdown, feels like New Years Eve.

Couldn't have done it without this place so thank you to all.

HHx

I missed this one with all the activity on the thread. It's brilliant to see that 80%+ in your signature, well done Twin :T

I wish I had some debt targets at the moment, instead of all the focus being on the endowment shortfall. Oh well if I get made redundant, the mortgage and the debts can whistle for it

Hello and welcome to all new members :hello:

EvolutionDFW

Hi All,

Quite a newbie here on the road to becoming debt free after setting up my DMP.

A question some of you may be able to answer....Some months i can do overtime and I'd like to use this to pay off extra amounts of my debts. My DMP is with Step change, would i send them extra payments for them to decide where it gets divided up to or should i just make additional payments myself?

dmb_2

Hopelessly_Hopeful wrote: »

Hello to all the newbies. Lots of lightbulbs going off this week!

40 payments in and I still get excited on payday and updating the debt owed and time left in my signature. Made it to >80% paid back and have started the 10 month countdown, feels like New Years Eve.

Couldn't have done it without this place so thank you to all.

HHx

Congratulations. Not long to go now:) Have you been living on beans on toast?:rotfl:

clairemckay81

Hi all, I am in the process of setting up DMP through payplan, has anyone got any template letters I can send to my creditors to advise them of this ? any help or advice will be gratefully received.

Thank you

antonic

Hi Claire

I never wrote to my creditors as Payplan wrote to them on my behalf.

The only one who rang me (constantly) was HBOS and I just gave them my Payplan reference number and told them to speak to them.

clairemckay81

Thank you antonic
I am just quite scared as payments due to go out to creditors tomorrow . I presume this will just be a hard few days with them ringing and emailing me . Last time I got behind they contacted my OH to ask him for money from one of my creditors which really put extra strain on me....
Thank you for your response

Hopelessly_Hopeful

Time_to_face_the_music wrote: »

I missed this one with all the activity on the thread. It's brilliant to see that 80%+ in your signature, well done Twin :T

I wish I had some debt targets at the moment, instead of all the focus being on the endowment shortfall. Oh well if I get made redundant, the mortgage and the debts can whistle for it

Hello and welcome to all new members :hello:

Thank you twin

You are continuing to do fantastic too, always admire your drive. Can you not looking at % of endowment shortfall saved? You could always resort to my hoover bag, dishcloth, loo roll targets!!!!!

Redundancy can take it's toll on everyone even if it's wanted so you just make sure you look after yourself :money:

HHx

Hopelessly_Hopeful

EvolutionDFW wrote: »

Hi All,

Quite a newbie here on the road to becoming debt free after setting up my DMP.

A question some of you may be able to answer....Some months i can do overtime and I'd like to use this to pay off extra amounts of my debts. My DMP is with Step change, would i send them extra payments for them to decide where it gets divided up to or should i just make additional payments myself?

Personally Id save it and think about best options as SC will just distribute prorate and you could be undermining the interest freezes/reduction. Mad isn't it?!

HHx