DMP Advice needed

emilyxxx8

Hi All,

I was on a DMP with Step Change to pay off my payday loans, store cards and catalogues. However, i missed a few payments as i just couldn't afford them. Now they have cancelled my DMP.

My question is, will they reinstate it if i redo my expenditure that is more realistic or not?

If not, can i start a new DMP with another company if so who??

If not, then what do i do? I have just over £3k worth of debts and my disposable income is about £20!

Thanks for any helpful advice,
Em

~Beanie~

I think you have to have a certain amount of disposable income in order to get a DMP and I don't think that £20 is enough. Until you get something sorted, you should probably send token payments of £1 to your creditors.

Did you speak to Step Change in the months that you couldn't pay?

£3000 isn't a lot in the grand scheme of things, maybe try posting an SOA on here to see if anyone can offer any advice, template can be found here: http://www.stoozing.com/calculator/soa.php

emilyxxx8

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 878
Partners monthly income after tax....... 0
Benefits................................ 160
Other income............................ 0
Total monthly income.................... 1038
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 238
Management charge (leasehold property).. 0
Council tax............................. 68
Electricity............................. 35
Gas..................................... 0
Oil..................................... 20
Water rates............................. 20
Telephone (land line)................... 20
Mobile phone............................ 40
TV Licence.............................. 6
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 10
Petrol/diesel........................... 80
Road tax................................ 12
Car Insurance........................... 40
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 240
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 8
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 10
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 10
Total monthly expenses.................. 987

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 600
Other assets............................ 0
Total Assets............................ 600

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
WONGA..........................40........0.........0
LENDING STREAM.................417.......0.........0
LENDING STREAM.................0.........0.........0
NEW LOOK.......................200.......0.........0
SIMPLY YOURS...................200.......0.........0
BRILLIANT GIFT SHOP............200.......0.........0
VERY...........................291.......0.........0
KANDCO.........................412.......0.........0
TXTLOAN........................179.......0.........0
WAGEDAY ADVANCE................300.......0.........0
PEACHY.........................123.9.....0.........0
CFO............................100.......0.........0
247 MONEYBOX...................100.......0.........0
PAYDAY EXPRESS.................271.......0.........0
PAYDAY EXPRESS.................117.......0.........0
PDUK...........................119.......0.........0
Total unsecured debts..........3069.9....0.........-

Monthly Budget Summary
Total monthly income.................... 1,038
Expenses (including HP & secured debts). 987
Available for debt repayments........... 51
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 51
Personal Balance Sheet Summary
Total assets (things you own)........... 600
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,069.9
Net Assets.............................. -2,469.9
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

sharp82

Quick thought... why are you paying childcare when your partner appears not to be working?

emilyxxx8

My partner does work, i just didnt put his income on this because these are my debts he knows nothing about. We pay half of all household bills and childcare each. The outgoings on my SOA shows just my half.

Depth_Charge

emilyxxx8 wrote: »

Hi All,

I was on a DMP with Step Change to pay off my payday loans, store cards and catalogues. However, i missed a few payments as i just couldn't afford them. Now they have cancelled my DMP.

My question is, will they reinstate it if i redo my expenditure that is more realistic or not?

If not, can i start a new DMP with another company if so who??

If not, then what do i do? I have just over £3k worth of debts and my disposable income is about £20!

Thanks for any helpful advice,
Em

Hi

You could look at Self Administering

Award winning online Citizens Advice Self Help DMP System.

It is FREE for anybody to use, no invite needed, just log in, confidential, does all the letters, financial statements, has expenditure allowance trigger figures, is flexible, saves everything, can be reviewed and amended by you, all your money goes to the creditors.

You can just try putting your info in first on a trial type basis, see how it works

http://mymoney.nedcab.org.uk/moneyadvice/dmp.asp

Example completed DMP

http://mymoney.nedcab.org.uk/moneyadvice/dmptour.asp

An increasing number of people are using or are switching to Self Managing or basically have no choice other than to do so.

The Mymoney NEDCAB Debt Remedy / Option system is currently undergoing an upgrade with a launch imminent (think some changes might have gone on today)

They are also in the process of incorporating a smooth changeover section in the online DMP from DMP provider to Self help - the basic idea is that this will miss out a number of the current steps such as holding letters and allow the debtor to continue the plan by themselves without too much interruption - standard letters included - some really interesting stuff will be unveiled soon that could well raise an eyebrow or two! wont be long now

More and more people are successfully using this system

Creditors should treat you the same if to you self manage or use a provider

There are other self help systems and template letters around.

Self Administering is not for all, but like I say sometimes people basically have no option

Your decisions at the end of the day

Best Wishes

chevalier

emilyxxx8 wrote: »

My partner does work, i just didnt put his income on this because these are my debts he knows nothing about. We pay half of all household bills and childcare each. The outgoings on my SOA shows just my half.

I am sure you are find this very stressful. Would it not be easier to explain this to your OH, so that he can help you out whilst you get straight.....?

Mort

It is possible to start a DMP with another company, there has been a number of members who have said they have done this. If you do decide to go for another DMP use one of the companies who don't charge, have a look at this thread for more information.
It might be possible to get Step Change onside again.

You say that your partner does not know about the debts you have. It might be time to tell him.
You also say that you each pay half of the household bills and childcare, this would only be fair if his earnings are the same as yours.

Good luck in getting this sorted.

fatbelly

If your disposable income is £20 per month (not £51 as your SoA shows) then you should consider a Debt Relief Order. You appear to meet the other criteria.

All the major debt charities can do them. There is a £90 fee.

angelaf_3

Christians Against Poverty also do a self-help service through their money courses https://capuk.org/i-want-help/cap-money-course as well as help through their free debt counselling service. You don't have to be a Christian to be helped and they are recommended by Martin.