DMP & Mutual Support Thread - Part 9

Growurown

humphrd wrote: »

Hi everyone - I was just checking out the thread on paying off your debts by Xmas 2013 but as mine are £36,000 + £6,000 tax bill there is no way that is going to happen.

I am just scanning papers ready to go across to Step Change to set up a DMP and feeling quite emotional !

I've always paid bills on time etc but struggling to make the monthly payments and now the HMRC refuse to agree that they made a mistake I need to pay that back also.

I was made redundant just before Xmas and fortunately back in work now but every day feels like a struggle. We do have a property overseas we are trying to sale but as it's been 3 years so far not hopeful that will happen any time soon.

My debts are with Barclaycard and M & S - I am really nervous about getting any CCJ's or orders against the house, so checking this thread for people's experiences so thank you everyone for sharing !

Hi humphrd, welcome to the DMP Mutual Support Thread.:hello: Sounds as though you have had a tough time recently but good news that you are back in work after the redundancy. Addressing your debts through a DMP should mean you won't get problems with CCJ's or orders against the house as long you keep up with your payments. It will trash your credit rating though.

Hopelessly_Hopeful

humphrd wrote: »

Hi everyone - I was just checking out the thread on paying off your debts by Xmas 2013 but as mine are £36,000 + £6,000 tax bill there is no way that is going to happen.

I am just scanning papers ready to go across to Step Change to set up a DMP and feeling quite emotional !

I've always paid bills on time etc but struggling to make the monthly payments and now the HMRC refuse to agree that they made a mistake I need to pay that back also.

I was made redundant just before Xmas and fortunately back in work now but every day feels like a struggle. We do have a property overseas we are trying to sale but as it's been 3 years so far not hopeful that will happen any time soon.

My debts are with Barclaycard and M & S - I am really nervous about getting any CCJ's or orders against the house, so checking this thread for people's experiences so thanks everyone for sharing !

Welcome to the thread and the new chapter in your life. We are here if you need anything

HHx

Hopelessly_Hopeful

Growurown wrote: »

Hmmm is OH out of the dog house yet? Just about. In order to avoid points on his licence he has to go on a speed aware course. (Still costs though). Another blip in the DMP journey but eventually we will get there!

Wonders if Chris Huhne and Vicky Pryce would rather do DMP and speed awareness than their current journey?:eek:

At least having a sense of humour costs nowt in DMP land:T

HHx

Growurown

Hopelessly_Hopeful wrote: »

Wonders if Chris Huhne and Vicky Pryce would rather do DMP and speed awareness than their current journey?:eek:

Well funny you should say that because he did ask whether I would be willing to take 'the rap' for him. Only in jest of course but I did say that the words run and jump came to mind.

Hopelessly_Hopeful

Growurown wrote: »

Well funny you should say that because he did ask whether I would be willing to take 'the rap' for him. Only in jest of course but I did say that the words run and jump came to mind.

I will look forward to hearing about his progress. How are the spreadsheets coming along?

HHx

choppy34

Hi everyone,

Hubby and I are seriously considering a DMP and have contacted pay plan who have arranged to call us back on Tuesday.

A quick question. are creditors likely to freeze interest if we've never missed a payment or had a late payment? We have £20k of unsecured debt owing to Halifax personal loan, 2 barclaycard and a HSBC commercial card.

Thanks for any help x

Hopelessly_Hopeful

choppy34 wrote: »

Hi everyone,

Hubby and I are seriously considering a DMP and have contacted pay plan who have arranged to call us back on Tuesday.

A quick question. are creditors likely to freeze interest if we've never missed a payment or had a late payment? We have £20k of unsecured debt owing to Halifax personal loan, 2 barclaycard and a HSBC commercial card.

Thanks for any help x

Hi and welcome

Many of us were in the same position, never having missed anything but were rapidly heading for the wall! All of my debts have stayed with the originator and not been passed onto DCA. I have had some successes, 1 loan now paid off, 5 eventually froze interest. 6 others charged. M&S a nightmare at 24.9% and 25.9%, MBNA at .5%, BC 12.9%, Hellifex 14.9% and FD 6.5%. Over all still been a success and better than the alternatives.

Good luck and let us know if we can help further

HHx

choppy34

Thank you so much for responding! Actually looking forward to the call on Tuesday in a bizarre way.

Do they allow for the children to have swimming lessons? And what happens to the money extra earnt such as overtime? My husbands monthly pay can vary from 1350 to 1900 per month?

Sorry for so many question x

Hopelessly_Hopeful

choppy34 wrote: »

Thank you so much for responding! Actually looking forward to the call on Tuesday in a bizarre way.

Do they allow for the children to have swimming lessons? And what happens to the money extra earnt such as overtime? My husbands monthly pay can vary from 1350 to 1900 per month?

Sorry for so many question x

Hi

No questions too many. We have all been there. This thread is non judgemental and very supportive. I dont have children so can't be sure, hopefully someone will be along shortly. Childrens have a rights to a childhood so I cant see an issue but I know people are not always 'awarded' like for like allowances. Re hubbies fluctuating overtime best to work on basics.

EVERYONE has something to offer on the thread whether thats emotional support or practical advice. If you don't want to stick around thats fine but the only requests we have on the thread is that people are always respectful of someone else and that they hopefully pop in to give an update so that the information helps others. That's how these things work if that makes sense. If everyone just popped in for advice and never updated or joined in it would just crumble.

Don't worry about questions just go for it. It can be really helpful to read back threads as you start to see themes and learn so much. I took a couple of days holiday, it was well spent! There are no hard and fast rules due to the randomness and informality of DMPs. It's more on the balance of probabilities if you see what I mean.

HHx

gizmo111

choppy34 wrote: »

Thank you so much for responding! Actually looking forward to the call on Tuesday in a bizarre way.

Do they allow for the children to have swimming lessons? And what happens to the money extra earnt such as overtime? My husbands monthly pay can vary from 1350 to 1900 per month?

Sorry for so many question x

Use the lowest figure and any extra put away into an emergency fund - you can then when you have saved maybe offer full and final setlements to clear the debts quicker.