DMP & Mutual Support Thread - Part 9

SIRENS

Poor you, hope you are mended soon.

As to dh work, I don't really know the impact, we had no dealings with the benefit system until dh was made redundant, it all seem so complicated, I don't really understand it myself!
As to the dmp, the only other suggestion was to sell the house, but then we wouldn't be able to get a mortgage for a new house and the house prices are so much more now I don't think our income would stretch.
I think this is my only option, perhaps I can cobble extra money together eventually and pay it off earlier, am due to retire at 62 in 20 years time so at least it will gone then!

Monkeyballs

SIRENS wrote: »

Poor you, hope you are mended soon.

As to dh work, I don't really know the impact, we had no dealings with the benefit system until dh was made redundant, it all seem so complicated, I don't really understand it myself!
As to the dmp, the only other suggestion was to sell the house, but then we wouldn't be able to get a mortgage for a new house and the house prices are so much more now I don't think our income would stretch.
I think this is my only option, perhaps I can cobble extra money together eventually and pay it off earlier, am due to retire at 62 in 20 years time so at least it will gone then!

Thanks, I hope it doesn't take much longer too

Tricky thing these benefits, but if anyone knows or has any suggestions about what might be available then it'll be the folk on this site! LOL, right box of geniuses around here

As for selling the house, nah I'm with you there - keep what you have

One other thing you might consider though (and anyone else reading this might have a thought to chip in too) the lower the DMP payments are the more likelihood is that it will be sold on... If that does happen then you'll be in with a good shout to get a reduced F&F who knows, maybe a few years down the line if you have a few grand stashed away then you might be able to cut the term short oh, and don't forget that you can make small additional payments too so if ne month you can afford an extra tenner then it all adds up!

MB x

Puzzcat

sunnyskies2 wrote: »

Hi all,

I am waiting for new bank account card and chq book to come through and have started writing letters to advise about SC looking after payments to creditors and offering £10 pm - feel really in limbo and treading on eggshells, don't want to get it wrong - bank account find me out and take away o/d from beneath my feet!
I was just wondering if credit card will keep accepting mdd on son's x-box - he pays out of pocket money - mmm I know credit card, can't remember why that rather than bank account mdd! - or should I cancel it with them? - also think I might have a couple of small annual renewals on credit cards that I am not sure of details- do you know what happens with those?

Many thanks, I am feeling nervously liberated - if that makes sense:/

Sarah

Hi Sarah and welcome! All debts have to be included in the dmp, I think what your saying is you have monthly or annual debits coming off some of these accounts? These will need to be cancelled as you will be unable to use the cards once the dmp starts so I would sort out cancelling them and set up the necessary one's from your new bank account.
Good luck and keep posting!!
Puzz.

Monkeyballs

sunnyskies2 wrote: »

Hi all,

I am waiting for new bank account card and chq book to come through and have started writing letters to advise about SC looking after payments to creditors and offering £10 pm - feel really in limbo and treading on eggshells, don't want to get it wrong - bank account find me out and take away o/d from beneath my feet!
I was just wondering if credit card will keep accepting mdd on son's x-box - he pays out of pocket money - mmm I know credit card, can't remember why that rather than bank account mdd! - or should I cancel it with them? - also think I might have a couple of small annual renewals on credit cards that I am not sure of details- do you know what happens with those?

Many thanks, I am feeling nervously liberated - if that makes sense:/

Sarah

Hi Sunny,

Starting out on a DMP is a bit nerve racking but it'll all be ok in the end

I can't advise re. your credit card questions but someone will be along soon I'm sure, as for contacting your creditors - you might get a few calls and letters but don't shy away from them! The best advice I can give is to meet them head on and just tell them that you're entering int a DMP with Step Change, give them your ref. and advice that SC will be in touch with an income & expenditure form and an offer of payment

You'll be ok me ducks, trust me

MB x

sunnyskies2

Aah thanks Puzz and MB, thanks for your support. Ok will swap credit debit over and any that I miss can't be that important - just didn't want cc to honour it and incur more charges - but guessing they won't.

Yes, deep breath and tells DSs (x2) not answer any un identified phone calls or answer door- feel bad they have to be involved, but think they will be ok.

Yes, will def keep posting, afraid not in a position to give any advice at the moment to help out - moral support though:)

Sarah

Monkeyballs

sunnyskies2 wrote: »

afraid not in a position to give any advice at the moment to help out

Give it a few weeks LOL the great thing about entering a DMP and handling your debts is that you learn what's what very quickly

MB

jubilee14

SIRENS wrote: »

Thanks Monkeyballs

Sorry my mistake it is £90 pm.

I know 19 years is crazy but my main debt is 16k overdraft that I have had since dh was made redundant 5 years ago it costs me between £88-£100 pm and that is just charges not actually paying off any of it.
Dh is back at work now and has just had a pay rise of £20 pm which has resulted in our tax credits being cut by £170 pm and now having pay full council tax at £120 pm so for and extra £20 we are now £270 worse off a month, I can see no other way I can just about afford £90 pm month to dmp??

Thanks so much your advice is greatly appreciated, sorry about the pain killers hope you are well soon xx

that is harsh i would have possibly asked the employer to hold off the payrise given its made you worse off rather than better and maybe give a better payrise in a year or two? Dont forget your I & E changes over time - expensive young children do grow up and move on, and hopefully the payrises will be a bit better than £20 pa, but they way things have been in recent years any payrise is a bit of a miracle!

Let us know how you get on with SC re accepting the DMP, you could always go self managed, TTFM is great for that advice, although i've not braved it yet myself am starting to think about the potential benefits.

good luck

Kate_fixing_it

Morning all

First day taking care of myself today. DH is working nights 100 miles away for the next two weeks, it's just taken him nearly 6 hours to get home :eek: As I have an automatic car I went for a 10 minute drive yesterday to test and as that went well I'm back to school runs (and two extremely happy children because they don't have to walk to school )

I had a "s*d it" weekend. I decided to consciously put stress aside until Monday. I unplugged the phone, didn't open the post and spent two days sitting in the garden andrreading. Not quite the "s*d it" days of pre-LBM - not a penny was spent but it was glorious

Back to reality now and I was about to call HMRC about the tax credits issue but it appears I'm not fully informed. I know it takes forever to receive correspondence from them so it'd seem last week's payment and letter have crossed with my call. They've actually NOT dropped today's payment by £8 as expected but have in fact increased it by £14 (so £22 more than I was expecting today). God knows what is going on! There's little point in calling today as I'll be on hold for the usual 20-30 minutes only to be told to call back when I have the letter that's on its way to explain.

It appears they're still taking the £167 a month for the overpayment but as I'm slightly better off (if this continues) and the overpayment will be cleared in 10.5 months I think it's best to leave it. I don't anticipate our situation changing next year so if I can just muddle through until next April my income will increase next year, just in time for the first annual DMP review and I will be able to increase the DMP payments and drag my DFD closer

Of course life (and tax credits) never goes to plan so we'll just wait and see what happens but it's made my day a little brighter to know that I haven't got to make £10 last all week

Kate x

Monkeyballs

Morning Kate,

Isn't it nice when you can start a new week with a bit of optimism

What a great idea for a s*d it weekend though!!! We've had some gorgeous weather and lets face it, not opening the post just means that you're not ruining the weekend by stressing about something you can do sweet FA about anyway good on you!

I can't comment re. tax credits as I'm totally clueless since they don't apply to me but every time I hear "HMRC" I get so annoyed... Grrrr... They're blasted useless!!! Grrrr...

MB x

Kate_fixing_it

Monkeyballs wrote: »

Morning Kate,

Isn't it nice when you can start a new week with a bit of optimism

What a great idea for a s*d it weekend though!!! We've had some gorgeous weather and lets face it, not opening the post just means that you're not ruining the weekend by stressing about something you can do sweet FA about anyway good on you!

I can't comment re. tax credits as I'm totally clueless since they don't apply to me but every time I hear "HMRC" I get so annoyed... Grrrr... They're blasted useless!!! Grrrr...

MB x

I think a general rule of thumb is that if they are owed money it gets fixed in 48 hours or less, if they need to pay out it takes at least a week. That could just be my cynical opinion though and this is the fastest they've EVER increased my payments in the 11 years I've been eligible to claim! What REALLY gets my goat is that, as a family, we'd be financially better off if I quit work by £30 a week! (I looked it up during a dark day thinking I'd never get my leg better). I mean nobody any disrespect by saying that, everyone has to make the right choice for them. For me it's the right thing to work (for a whole host of reasons) and that £30 a week would only be for the next 2 years assuming my eldest stays on for A-levels.

Anyway, I'm rambling and should stop while I can

I'd highly recommend a "s*d it" weekend. I have a fantastic tan, I've slept well and the kids have had a fab time playing in the garden meaning they're in a good mood heading off to school. I'm also 100% ready to take on the week.

Hope the good weather has helped your pain a little too. I don't know if it's the sunshine, the stress relief or just the improved mood but my pain has significantly reduced to the point where I've not actually taken and prescription strength drugs yet today, I'm coping with over the counter stuff

Kate x