DMP & Mutual Support Thread - Part 9

Growurown

Time_to_face_the_music wrote: »

Hope everyone is doing well and enjoying a bit of sunshine?

Indeed I am!

Time_to_face_the_music wrote: »

My daughter goes to her local As** at around 3.45pm on a Sunday and has been known to fill a whole tray in her freezer for less than £2.

That's brilliant! It's knowing the time to go really, and being able to plan a menu around what is reduced. I know a lot of people who are really not into cooking and wouldn't know how to cook or make a meal out of things like liver or fish for example.

Time_to_face_the_music wrote: »

Messing around with the spreadsheet here and revising targets, am now hoping to hit below £24,000 and 71% paid off by the end of the month. Watch this space ..... :j

Me too! I am hoping to break under the £20,000 mark with the next payment. Our plan is on target to finish in October next year and I think I am beginning to see the light at the end of the tunnel now! Plus (hopefully all being well) this will be our last Christmas on a DMP:)

bertman

Growurown wrote: »

Indeed I am!



That's brilliant! It's knowing the time to go really, and being able to plan a menu around what is reduced. I know a lot of people who are really not into cooking and wouldn't know how to cook or make a meal out of things like liver or fish for example.



Me too! I am hoping to break under the £20,000 mark with the next payment. Our plan is on target to finish in October next year and I think I am beginning to see the light at the end of the tunnel now! Plus (hopefully all being well) this will be our last Christmas on a DMP:)

Oh how nice that this is your last full year on a DMP... That will be us one day:j

We have had nearly all our debts passed to other agencies now, only Barclaycard are keeping the debts in their name, we have been defaulted by everyone now so I guess this is our life for the next 5 years..... Still one day at a time!!

Time_to_face_the_music

Woodypuddy wrote: »

Hi, I was wondering if anyone had any experience of this. We have enough equity in our house to pay off my DMP which is 55k. I haven't been on the DMP long but it has given us to some much needed thinking and breathing space. We are considering moving to a cheaper house and releasing the equity to pay off the DMP - my DMP is due to last 14 years so we are looking for a clean slate start. We could pay off the mortgage when we sell but I am assuming we will find it very hard to get another mortgage on a new property so I was thinking that porting with our existing lender might be the answer? We wouldn't want to borrow any more and may also be able to slightly reduce it depending on what property we buy. Will the DMP also mean we will struggle to port? Has anyone managed to before? Thank you

I don't know the answer to this but my twin HH may be able to offer some advice.

Time_to_face_the_music

Growurown wrote: »

Indeed I am!

That's brilliant! It's knowing the time to go really, and being able to plan a menu around what is reduced. I know a lot of people who are really not into cooking and wouldn't know how to cook or make a meal out of things like liver or fish for example.

Me too! I am hoping to break under the £20,000 mark with the next payment. Our plan is on target to finish in October next year and I think I am beginning to see the light at the end of the tunnel now! Plus (hopefully all being well) this will be our last Christmas on a DMP:)

That's fantastic news GUO :T

Our target DFD date is end of January 2016 but I am absolutely determined to bring it into 2015 and make it as soon as possible. I would like to be debt free by Summer 2015 .....

This year we will be mortgage free and next year we will be debt free. Oh it felt so good to type that! :j

guns4

Ok sent all the info back to step change and so it must have begun as I have no overdraft facility no more and the cash point as kept my card.

Scary what happens now do creditors reject the application often?

sparco05

Hey guys,

I'm a complete newbie at this kind of stuff, lately I've gotten myself into a position where I have been robbing peter to pay paul with regards to my debts,

Had a moment of complete and utter depression last month, when on the day after payday I checked my account to find it already within £20 of my overdraft limit.

I realised that I shouldn't be relying on Payday loans anymore (I know!! Idiot!!) and that something had to be done.

Santander mentioned Stepchange to me so I checked them out, did the Debt Remedy, and they suggested a DMP.

So I spoke to them on the phone and they emailed me the info.

This was about a month ago, payday is tomorrow.

I work for a financial institution so have waited for them to say it's okay for me to do this and they have now said yes!

So I've printed off my DMP and signed, scanned, emailed and posted it back to stepchange.

Now have no idea what happens next.

As advised I have set up a basic account and cancelled my DDs, have advised work to pay into the new account too.

I have a joint loan with Santander with my father, and with all the issues, missed the payment last month, up until now have always been up to date with payments, He has agreed that I am to pay him rent equal to the debt's monthly payment and he will pay the loan from his account going forward.

Two questions, what do I do about the missed payment just gone? (and in the next couple of days) as I want this to have as little effect on him as possible.

It's currently included in my DMP, is it worth me having it taken off as dad will be making the monthly payments going forward, once he's set up a new account to pay from? I assumed I had to include everything (this is my biggest single debt but as it's going to be paid separately)

I'm so confused with all this, too long burying my head in the sand!!

Please help

sparco.

Puzzcat

guns4 wrote: »

Ok sent all the info back to step change and so it must have begun as I have no overdraft facility no more and the cash point as kept my card.

Scary what happens now do creditors reject the application often?

Well it's hard to say as it would be based on amount owed v amount offered on dmp. Creditors appear to treat individuals differently. Don't forget even though stepchange are dealing with your payment it will be down to you to check your balances and update on sc website and to write requesting freezing interest if this isn't done. The creditors are not obliged to do this, but most will.
Puzz.

Puzzcat

sparco05 wrote: »

Hey guys,

I'm a complete newbie at this kind of stuff, lately I've gotten myself into a position where I have been robbing peter to pay paul with regards to my debts,

Had a moment of complete and utter depression last month, when on the day after payday I checked my account to find it already within £20 of my overdraft limit.

I realised that I shouldn't be relying on Payday loans anymore (I know!! Idiot!!) and that something had to be done.

Santander mentioned Stepchange to me so I checked them out, did the Debt Remedy, and they suggested a DMP.

So I spoke to them on the phone and they emailed me the info.

This was about a month ago, payday is tomorrow.

I work for a financial institution so have waited for them to say it's okay for me to do this and they have now said yes!

So I've printed off my DMP and signed, scanned, emailed and posted it back to stepchange.

Now have no idea what happens next.

As advised I have set up a basic account and cancelled my DDs, have advised work to pay into the new account too.

I have a joint loan with Santander with my father, and with all the issues, missed the payment last month, up until now have always been up to date with payments, He has agreed that I am to pay him rent equal to the debt's monthly payment and he will pay the loan from his account going forward.

Two questions, what do I do about the missed payment just gone? (and in the next couple of days) as I want this to have as little effect on him as possible.

It's currently included in my DMP, is it worth me having it taken off as dad will be making the monthly payments going forward, once he's set up a new account to pay from? I assumed I had to include everything (this is my biggest single debt but as it's going to be paid separately)

I'm so confused with all this, too long burying my head in the sand!!

Please help

sparco.

As all debts in your name (regardless of joint) are suppose to be included in a dmp, I could only advise that you need to speak to stepchange about this loan.
Puzz

Growurown

Time_to_face_the_music wrote: »

That's fantastic news GUO :T

Our target DFD date is end of January 2016 but I am absolutely determined to bring it into 2015 and make it as soon as possible. I would like to be debt free by Summer 2015 .....

This year we will be mortgage free and next year we will be debt free. Oh it felt so good to type that! :j

Go for it TTFTM. Being debt free sounds so wonderful! I'm sure you can do it, I have seldom seen anyone as focused as yourself at hammering that debt (with the exception of HH of course!)

2spicy

Time_to_face_the_music wrote: »

That's fantastic news GUO :T

Our target DFD date is end of January 2016 but I am absolutely determined to bring it into 2015 and make it as soon as possible. I would like to be debt free by Summer 2015 .....

This year we will be mortgage free and next year we will be debt free. Oh it felt so good to type that! :j

Were aiming for Jan 2016.. but realistically its going to be around April as some creditors have charged interest, not included in PP's figures.
We broke the £20k mark last month .... :rotfl: