DMP & Mutual Support Thread - Part 9

Hopelessly_Hopeful

Monkeyballs wrote: »

Morning all

HH, I'm so jealous... 4 short months left so you'll have a debt free Christmas!!! Huzzah!!!

GUO, sorry to hear about the DMP extension but why not think of it as savings towards becoming debt free as well as an emergency fund? You never know, you might find yourself with enough saved to repay your outstanding debts (or do F&F's) before you need to pay out in an emergency

If you think that every £100 in an emergency fund is comparable to being £150 of debt in an F&F then it sounds great doesn't it? Obviously emergency fund first but I only see good things coming from this...

MB x

Thanks MB. Just wish I could bring everyone's date forward too. I get by through looking forward to and celebrating lots of mini targets whether it is hitting a figure paid, left, reduced shopping budget, managed a night out or treat. Also spent some time planning what Im going to do after DFD. Can take you to quite deep places but has proved a good coping mechanism for me.


I agree re emergency fund etc. Helps reduce chance of creditors introducing higher interest charges too.


HHx

Monkeyballs

Hopelessly_Hopeful wrote: »

I get by through looking forward to and celebrating lots of mini targets whether it is hitting a figure paid, left, reduced shopping budget, managed a night out or treat. Also spent some time planning what Im going to do after DFD. Can take you to quite deep places but has proved a good coping mechanism for me.

Well... You could start paying my debts too? Then you'll at least be helping bring my DFD forward :happyhear

Really good advice there I keep having a mini celebration (very mini, usually tea and biscuits lol) everytime I start into a new thousand pound... Come the end of this month I'll be leaving the £12k mark and entering the £11k!!!!!! Hurrah!!!!

I'm getting there sloooooowly

MB x

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Bit of an overall update...

Had the update call from DMP guys today, so far none of the creditors have kicked up a fuss and all are waiting patiently for the offer letter to cone through. Initial signs looking fine, but me being me I'm expecting at least one of hem to kick up a stink!

The real bonus is the amount I owe - for months I had a figure of about £8000 in my head, GP confirmed to me today it's about £6400 - so off to a good start already! I'm thinking maybe I've factored in some high levels of interest along the way, although I thought I owed more on 2 NatWest accounts than I actually do - so bonus all round!

The new laptop's put on hold for now and the car's become my centre of attention - MOT due in August and the poor thing needs a lot of TLC thrown at it - he's a little trooper though, never gives in and never grumbles! But he does need a new cambelt ASAP so that's half of this months' wages gone on that already :eek:

Other than that, I'm down to my last few quid but pay day tomorrow - what's really interesting is I ran a book this month on what I spend and what it's on, I'm truly staggered about the total crap I buy and don't even think about at the time - corners can be drastically cut! Hopefully this time next month I'll have a bit left over to roll into next payday... From small acorns and all

Growurown

Monkeyballs wrote: »

GUO, sorry to hear about the DMP extension but why not think of it as savings towards becoming debt free as well as an emergency fund? You never know, you might find yourself with enough saved to repay your outstanding debts (or do F&F's) before you need to pay out in an emergency

Yes indeed and I don't know yet how much it is going to cost to get the car through the MOT. It might not be as bad as I think!

Hopelessly_Hopeful wrote: »

Sorry to hear about the car GUO. Ive had to extend my DMP a few times, I was originally going to be finished in 41 months but I was miserable and not able to cope on the allowances. Debt busting is important but its not the only thing in our lives. Hope that car gets sorted

Thanks HH. I built in quite generous allowances at the beginning of our DMP because I knew we wouldn't cope on a very tight budget. Even now OH has a bit of a melt down when he can't buy new stuff. It's disappointing but at least as MB says if the money gets saved and not spent after all it can go towards my debts later on. At least I won't be worrying about paying for the car this way.

sunnyskies2

Hopelessly_Hopeful wrote: »

I agree re emergency fund etc. Helps reduce chance of creditors introducing higher interest charges too.

Hi, HH - sorry if I sound dumb - but what does this mean? Thank you

PbP ...I said about HE colleges offering reduced rates for things like haircuts etc last week - you may also find some who offer mechanic qualifications do the same - I've just found out that ours does!

Sarah:)

spiffyiffy

Hi all,


I have another quick query;


I think I may know the answer to this but I have a mortgage on my own name as well as with my parents. Going on a DMP will obviously give me defaults, etc. and damage my credit rating for 6 years but would this also affect my parents credit rating?


Thanks

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sunnyskies2 wrote: »

Hi, HH - sorry if I sound dumb - but what does this mean? Thank you

PbP ...I said about HE colleges offering reduced rates for things like haircuts etc last week - you may also find some who offer mechanic qualifications do the same - I've just found out that ours does!

Sarah:)

That might be a worthy route for the suspension side of things as I need new bushings an dpossibly a new wheel bearing somewhere - he whines if I go over 50mph which usually a sign of a worn bearing, although I can't located it :eek: - but the cambelt on my car's engine might be an engine-out job. I'm not sure about that though, one place said it would be, another said it wasn't necessary.

I just want him to be ship shape for when I sell him - need to save a bit before I do though because the new car I want is a few grand....

andykb

Hi guys haven't posted in such a long time but wanted to let you fellow DMP'ers and possible new recruits this is well worth it.

We are just over 12 months from paying ours off and it has been the best thing we ever did, hopefully the 12 months will be less than 6 after a cheeky PPI claim and a new career in a tax free country.

weve played it by the rules keeping creditors upto date on everything and the 95% of them have been spot-on, Step-change have been great as well they are so helpful and supportive and in no way judgemental towards you.

If youre thinking of taking the plunge to get back on track ...go for it...our debts were crazy!!

Time_to_face_the_music

Hello all DMPers, new and old :hello:

I have been MIA for a little while due to daughter needing a massive amount of work in order to move into new house. I am all painted out and our bank balance is in totally dire straits but we need to do these things for our kids

HH - you are so close, there can't be many dish cloths to go now, can there? :rotfl:

I can't wait for your DF celebration, I think I am more excited about you being DF than me! :j

GUO - sorry to hear about more car woes, hope this is a solution for you x

Welcome to all new DMPers, please shout out if you need any help or advice, someone here will always try to assist you. Even is you don't have questions, stick around for the support, it really is the best.

OK off I go to paint .... and spend more money

TTFTM x

vix1977

Hi,


can anyone tell me how long it takes Stepchange to get things started once they have received the paperwork requested? I don't want to make a payment in June as I want some money for our emergency fund so not sure whether to send the paperwork off yet or not. I will be contacting our creditors with token payments though.


Thanks.