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I want to be debt free!!! - SOA ideas please

I have been viewing these boards for quite some time but have finally plucked up the courage to post.

I had my "light bulb moment" in January 2006 but kept hoping a miracle would happen (win lottery, premium bonds etc) so I didn't have to deal with it. However, in April 2007 (nearly 18 months later) I finally decided to sort myself out so I contacted CCCS and have sorted out a DMP which starts this month. I also wrote to Barclays reclaiming my bank charges who agreed to refund £620 (£835 asked for).

I am desperate to get rid of this debt so am now thinking of reclaiming credit card charges. Has anyone reclaimed credit card/ bank charges whilst on a DMP? If so what do the creditors do - stop reduce payments, send to DCA?

I am finding it quite hard going on DMP as I have never budgeted (hence the debt). I will post my SOA and total debt later so you are all aware of the complete mess i'm in.

Will be back later.
:j PROUD TO BE DEALING WITH MY DEBTS :j
Piggy points - 155

£2 Savings = £4
:D Official DMP Mutual Support Club Member No. 66 :D

Comments

  • Crown
    Crown Posts: 1,377 Forumite
    Hi and Welcome to the DFW Board,

    looks like yo have made a good start with the reclaiming although you may have got the entire amount from Barclays if you had insisted the full amount. I have not reclaimed myself so I cannot help you with that question.

    You may have a more luck on the reclaim your charges forum that is little loer down the main forum page ;)
    Official DFW Nerd Club - Member no. 297 - Proud To Be Dealing With My Debts :D
  • Thanks Crown. I should have insisted on the full amount but was desperate for the money. We had an outstanding council bill to pay with a date to attend to court so I was panicking. I have had a look on the reclaim charges forum and it seems several people have successfully claimed charges whilst on DMP so I think I will give it a go. Now going to sort out my SOA to post.
    :j PROUD TO BE DEALING WITH MY DEBTS :j
    Piggy points - 155

    £2 Savings = £4
    :D Official DMP Mutual Support Club Member No. 66 :D
  • SOA please
  • sammy115
    sammy115 Posts: 15,267 Forumite
    I have successfully reclaimed charges on all my credit cards. just making a start on a catalogue debt now. there is no problem claiming back whilst on a DMP, but the money will be refunded to your debt and thus lower the outstanding balance. It will have no effect on your payments, that is how much you can afford to pay.

    Good luck and well done on taking the first steps.

    Post an SOA and keep a spending diary:T
    Quality is doing something right when no one is looking - Henry Ford
  • Well here goes my SOA. All figures are worked out using only my income as partner's income is not included in DMP with CCCS.

    I live with my partner and 2 children

    Take home pay - 595
    Child benefit - 131
    Tax credit - 379
    Maintenance - 150 (from ex-husband)
    TOTAL = 1255

    Rent - 250 (partner pays rest)
    Water - 30
    Council tax - 48 (partner pays rest)
    Electric - 30
    Heating oil - 35
    Contents insurance - 7
    Telephone (inc mob and internet) - 41
    TV License - 11

    Car tax - 15
    Car ins - 25
    Petrol & parking - 87
    (partner pays for all car services / repairs / MOT)

    Food - 200
    Life Ins - 15
    Childcare - 173 (partner pays rest)
    Hobbies and entertainment - 32
    Hairdressers (myself and 2 children) - 25

    TOTAL EXPENSES = 1074

    SURPLUS = 181 FOR DMP

    Any advice and suggestions would be appreciated.
    :j PROUD TO BE DEALING WITH MY DEBTS :j
    Piggy points - 155

    £2 Savings = £4
    :D Official DMP Mutual Support Club Member No. 66 :D
  • HardleyLisa
    HardleyLisa Posts: 64 Forumite
    My total debt amount is 30,880 which includes the following:

    Alliance & Leicester - 11,221 (have accepted reduced payments for 6 months)
    Barclayloan - 8518 (have rejected reduced payments and say they are going to pass on to DCA)
    Goldfish - 2959
    Barclaycard - 4062
    Citi Cards - 2948
    Cap One - 922
    Studio - 128
    Great Universal - 122 (have passed to DCA who are accepting reduced payments)

    I have approximately £120 saved up. Do you think it would be a good idea to offer Studio and Great Universal £60 each as full and final settlement?
    :j PROUD TO BE DEALING WITH MY DEBTS :j
    Piggy points - 155

    £2 Savings = £4
    :D Official DMP Mutual Support Club Member No. 66 :D
  • sammy115
    sammy115 Posts: 15,267 Forumite
    Hi Lisa

    could you let us know what your limit is on your CC's and what your APR's are. And also your minimum payments.

    Thanks
    Quality is doing something right when no one is looking - Henry Ford
  • Hi,

    Does your partner know of all your debts? Even though he's not included in the DMP, what is stopping him from sharing the responsibility of all your joint commitments? "Partner pays the rest" is not good enough to work out a sensible plan. I suggest you sit down with him and do it again using the correct figures and BOTH your incomes. Then we can all help a lot.

    Regards.
  • HardleyLisa
    HardleyLisa Posts: 64 Forumite
    Sammy115 - I am over or just about up to the limit on my cc's. I will check what the APR's and minimum payments are and post back later.

    david hellier - No my partner doesn't know the extent of my debt. This is one of the reasons he is not included in DMP. Also he is a self-employed bricklayer so his income varies depending on weather (i.e much higher in the summer months) and for this reason the CCCS said it was not advisable to include him in DMP. However, I do know how much he earns annually (average as this varies from year to year) so I will get together all the info and post back amended SOA later.

    Does anyone have any ideas re: offering full and final settlement of debts to Great Universal and Studio?

    Thanks
    :j PROUD TO BE DEALING WITH MY DEBTS :j
    Piggy points - 155

    £2 Savings = £4
    :D Official DMP Mutual Support Club Member No. 66 :D
  • Hi, Hopefully lots of letters will be waiting for my when I get home accepting reduced payments on my DMP. So far only 2 have replied (6 to go).

    I was quite surprised that Alliance & Leicester accepted £73 as my debt with them is over 11,000 and I am in arrears of over 3000.

    Barclays didn't accept offer even though I am only one month's in arrears (£163). They said it was because it would take too long to pay the debt off. The CCCS did explain in my SOA that my income would be increasing in 2 years time when my son goes to school and therefore I would be able to pay more towards debt. Does anyone know the DCA Barclays passes the account over to because this is what they said they are going to do.
    :j PROUD TO BE DEALING WITH MY DEBTS :j
    Piggy points - 155

    £2 Savings = £4
    :D Official DMP Mutual Support Club Member No. 66 :D
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