DMP - can someone help?

BlushingRose

It's great that your husband is supportive in this, remember that you're in it together, even though everything might be in your name x

Monkeyballs

Hi LMJ,

What can I say, some people say I care too much

I can't knock you for what you say, family is a big motivator as is risk of losing your home so I wish you all the best with your DMP and I suspect that you will have knocked a fair bit of time off by the end of it

I started my DMP about 7 months ago (I think) and in that time I have been able to reduce the predicted 39 months by 4 months give or take (which reminds me, I need to update my signature) which leads me to my next tip...

Check your balances regularly! There is normally a couple of £'s each month to correct my balances by and I reckon that around one months worth of payments has been gained by balances seemingly dropping from one month to the next (PDL's and mobile contracts mainly) above what I/SC have paid! I was worried at first but was reassured by the creditor it was correct and as it was going in the right direction... LOL

MB

lizzy23

LMJ10 wrote: »

Forgot to mention - because we have that share in our house we do need to put some money aside to pay this back in 5 years - I've spoke to SC about this!

I'm pretty sure we aren't going to get a remortgage not one with a good rate on anyway!

So I don't really want to get to 5 years down the line and pay off my credit debts to find we are in another 25k worth off debt or forced to sell our house!

you might be surprised if you stay with your existing lender, we are 16 months into our DMP and our fixed rate finished at christmas, i spoke to our existing lender who agreed a fixed rate of a very reasonable 2.69% for another 5 years, by which time DMP will be about over and i'll be able to over pay the mortgage

LMJ10

Oh that's good to know yes I would like a fixed rate for 5 years as we are on the SVR at the moment. Ringing Halifax is on my to do lists
But when we come to pay back the builders I'll be asking to borrow more money from my mortgage lender! Hopefully we will have some settled accounts by then but won't be in time for the defaults to drop off so remortgaging might not be a option!

Even if we manage to save half off what we owe it may help them extend the 10 years to 15 years - but I can't rely on that happening. So here's to 5 years of save pay save pay save pay save pay!!!

And if we pay off our cards and loans plus have another baby and pay back David Wilson in 5-6years I'll be very happy!!! Phew!!!

my mum keeps saying 5 years is along way off and anything can happen!!