Long time lurker first time posting diary or no diary???

Debtbuster2014

Hi

I've been a lurker for many years and even more so the last 2 weeks !!
Currently in a lot off debt and been on a dmp for 7 years and currently have at least another 15 years left (with a fee paying company) have thought about moving but the company I'm with are quite good and my financial situation is complicated a d I've tried pay plan and the payments were just too much.
Also must got refused for an Iva as we earn enough too have it paid within 5 years we wouldn't have saved anything and they wanted to take into account an income which isn't always reliable (rental property).
So we've decided to debt bust it ourselves !!!!
Is it worth me doing a diary ??? Do they help keep you on track ???

Thanks for any advice :rotfl::)

Tixy

Hi

Are the debts in your signature on top of the DMP debts?
Or if one of you in a DMP and the other repaying their debts under contract?

The difference between 15 years on the DMP and being able to repay it all within 5years on an IVA seems huge. Whilst its not unusual for there to be small differences that is much more than a small difference.

How much less time would your DMP be if you paid the same amount but without paying the DMP fee?

You mention having tried payplan but have you also considered speaking to one of the charity providers - maybe stepchange? or have you considered doing a self-managed DMP to save the DMP fees?

Anyway none of that is answering your question! I would think at least half the debt free diaries started on here grind to a halt within a couple of months, but for those who post regularly and really get in to them they seem to be a great help.

Debtbuster2014

Tixy wrote: »

Hi

Are the debts in your signature on top of the DMP debts?
Or if one of you in a DMP and the other repaying their debts under contract?

yeah they are on top off the dmp but are both mine and my husbands all joint
The difference between 15 years on the DMP and being able to repay it all within 5years on an IVA seems huge. Whilst its not unusual for there to be small differences that is much more than a small difference.

Yeah they wanted repayments over £780 per month at the mo we pay £281 they wanted to included our rental income we get from renting our old house out (live with my rents now) but I didn't want it including as we don't always get it and the contract is due to end in sept we get £400 a month when it's rented out and the thought off committing to that over 5 years

How much less time would your DMP be if you paid the same amount but without paying the DMP fee?
Our monthly fee is around £30 a month

You mention having tried payplan but have you also considered speaking to one of the charity providers - maybe stepchange? or have you considered doing a self-managed DMP to save the DMP fees?

I have but honestly not sure I would have the time to do it and wouldn't know where to start !!!

Anyway none of that is answering your question! I would think at least half the debt free diaries started on here grind to a halt within a couple of months, but for those who post regularly and really get in to them they seem to be a great help.

Thanks for all your advice really appreciate it do you have a diary ???