DMP & Mutual Support Thread - Part 9

Monkeyballs

Growurown wrote: »

I have said this before but I think it is worth saying again - you are completely bonkers. In the nicest possible way of course and it does brighten up the day so please carry on Sir MB of Greyskull. Are you a Master of the Universe too?

LOL I aim to please chuckypoo's

Never been called a Master of the Universe... Was once called a Master of Debaters... Or I think think that's what she said?

MB of G x

Puzzcat

Monkeyballs wrote: »

LOL I aim to please chuckypoo's

Never been called a Master of the Universe... Was once called a Master of Debaters... Or I think think that's what she said?

MB of G x

You are a bad man...:rotfl:

Monkeyballs

Puzzcat wrote: »

You are a bad man...:rotfl:

I get that a lot... but only in the best ways

MB of G x

Growurown

Monkeyballs wrote: »

LOL I aim to please chuckypoo's

Never been called a Master of the Universe... Was once called a Master of Debaters... Or I think think that's what she said?

MB of G x

Puzzcat wrote: »

You are a bad man...:rotfl:

I agree with Puzz:rotfl:

Julie67

Hi all,

I posted a lot here when setting up my DMP with SC. Well we are year in and a few thousand has been paid off which is wonderful. But our situation is about to change and I'm considering self managing our DMP. Our youngest son will be 18 in June so I'm guessing our child benefit will stop and also child tax credits I'm sure will be vastly reduced or gone. But I've just been awarded a benefit due to my health. So quite a change, can anyone answer the following questions.

Did you have any trouble managing yourself and the attitude of companies towards you? Is there a messy changeover?

Do you find you take more ownership? By that I mean I've almost forgot about our DMP because someone else has been managing it for us. I'm wondering if it will help me to try and tackle the smaller debts and really focus every penny on getting rid of it.

Or did you fall back into the trap of not making the payments when things were tight and getting back into a mess.

Would you say it was more stressful ?

Thanks for any replies.

Ash73

I have £54,000 of debts that I can't afford due to stupidly bad budgeting and a house renovation going wrong. I feel stupid. Today I have phoned a debt counsellor and think a DPM may offer a solution. Just a few questions that I'm worried about:

Do all creditors accept plans - I have debts with barclaycard, tesco finance, Halifax, mbna.

I have a car on a balloon payment scheme that runs out Aug 2015. Is there any chance of getting finance to pay the balloon payment or start a new lease agreement?

Will taking up the plan affect my husbands credit rating? We have a joint mortgage and a joint account for household bills.

I'm really scared about not having the cc security blanket but know I need to do something.

Thanks in advance for any advice.:(

sunnyskies2

Sorry Julie, just starting out so afraid I cannot offer any advice - but good luck with everything:)

Vix, i would imagine SC all ok with your plan - best to check with them - I'm exactly where you are - sending last of letters off, clearing out from creditor bank and sending SC agreement back tomorrow - very excited:) - if of interest I've started to write a basic diary - as there doesn't seem to be much about being s/e on the threads ...

.....a big thank you Sir MB and Lady Puzzcat for combining entertainment & visuals with information/advice - loving it

Sarah

sunnyskies2

Hi Ash

I'm afraid I can't really answer your questions as just starting out on a DMP myself - but what I can say is I felt worried at first £38k of debt - but with the fantastic advice and support from people on the thread and on the site I feel confident about going into our DMP - although obviously you need to be sure and research whether that is the correct plan of action for you.

We are going with the charity Step Change who have been wonderful - non-judgemental, patient and helpful.

Others with more knowledge will come and along and be able to give more information, I know it's easy said but try not to worry too much - I am sure some kind of solution to sort your debt can be found.

Best wishes

Sarah

Ash73

Good to know that others are feeling the same - I think it probably is the right step but it just feels quite frightening when I thought I'd feel really relieved. But maybe it's just because I'm admitting the mess I've got in.

I've spoken to Step Change as well - and completely agree that they are great.

Hopefully someone will be able to help with my questions and then I can start sorting things out.

Thanks again for replying.

Hopelessly_Hopeful

Julie67 wrote: »

Hi all,

I posted a lot here when setting up my DMP with SC. Well we are year in and a few thousand has been paid off which is wonderful. But our situation is about to change and I'm considering self managing our DMP. Our youngest son will be 18 in June so I'm guessing our child benefit will stop and also child tax credits I'm sure will be vastly reduced or gone. But I've just been awarded a benefit due to my health. So quite a change, can anyone answer the following questions.

Did you have any trouble managing yourself and the attitude of companies towards you? Is there a messy changeover?

Do you find you take more ownership? By that I mean I've almost forgot about our DMP because someone else has been managing it for us. I'm wondering if it will help me to try and tackle the smaller debts and really focus every penny on getting rid of it.

Or did you fall back into the trap of not making the payments when things were tight and getting back into a mess.

Would you say it was more stressful ?

Thanks for any replies.

Hi Julie


I went self managed at month 33 last Feb. The main reason was that a number of creditors deemed me no longer in financial difficulty and reintroduced interest charges. I was paying more than £200 a month in interest. M&S were charging interest of 29.9%. I took a mortgage holiday so I could clear one debt. To try to pre-empt some of the hassle I did an early budget review with SC. That way I felt I'd got a 'pass' for another 12 months. If the creditors challenged me I could challenge back saying approved by recognised charity. A couple of creditors asked for reviews after 6 months and a year. That was easy just did another SOA. For me it's been really easy I wish I'd done it ages before, without wanting to sound rude what do SC do for you at this stage besides distribute your money? Had I done it earlier I would have employed some of the things Ms TTFTM did. When creditors wouldn't default her or applied interest she just paid them token £1 a month until they came back to the table nicely!


Good luck, let us know how you get on.


HHx