DMP & Mutual Support Thread - Part 10

Karen777

ha ha - a good session with a spreadsheet often brings a little smile to my face - we are all turning into geeks well done!

Slothy88

Wow, thanks for the template Sentient - I'm sure that will come in handy as my largest debt is with BC, so that has been saved in my templates


I called SC this morning, and they now have all of the information they need, so I'm hoping the ball will be rolling by the end of the week, and my first payment will be made in January


In other good news, I have an interview for a new job on Friday, which will initially start on the same as I'm on now, but in April I would be taking over a role of someone who is retiring, and will increase by £10K!!!! :eek: :eek: :eek: :eek: :eek:


I'm trying not to get all my hopes up, but it's hard not to haha.

Karen777

Good luck Slothy!

Hatchie

I'm looking at working with one of the above and wandered if anyone had any advise on which is the best, or anyone whom has had experience of using any of them for a DMP ?!


We've had the CAP chap out already, whom was a little vague but took all of our details, also had a brief plan set out by pay plan.


Has anyone done a DMP of there own, or does anyone have a plan of there own, via spreadsheet that I could use to facilitate the DMP myself ?


Any advice on whats the best way forward appreciated ... before it's to late and we're in serious trouble !


£22k in Debt but affording to pay minimum payments ..... with Pennies to spare and also using credit to keep us going !

Time_to_face_the_music

Hatchie wrote: »

I'm looking at working with one of the above and wandered if anyone had any advise on which is the best, or anyone whom has had experience of using any of them for a DMP ?!


We've had the CAP chap out already, whom was a little vague but took all of our details, also had a brief plan set out by pay plan.


Has anyone done a DMP of there own, or does anyone have a plan of there own, via spreadsheet that I could use to facilitate the DMP myself ?


Any advice on whats the best way forward appreciated ... before it's to late and we're in serious trouble !


£22k in Debt but affording to pay minimum payments ..... with Pennies to spare and also using credit to keep us going !

Hi Hatchie and welcome :hello:

Have you checked out the Citizen's Advice Bureau self managed DMP? Everything is available online and we have been using it for 2 years and think it's brilliant.

https://ned-cab.org.uk/dmp.asp

Please stick around for help, advice and any support you need, it's always available in bucketloads here

TTFTM x

antonic

Hatchie wrote: »

I'm looking at working with one of the above and wandered if anyone had any advise on which is the best, or anyone whom has had experience of using any of them for a DMP ?!


We've had the CAP chap out already, whom was a little vague but took all of our details, also had a brief plan set out by pay plan.


Has anyone done a DMP of there own, or does anyone have a plan of there own, via spreadsheet that I could use to facilitate the DMP myself ?


Any advice on whats the best way forward appreciated ... before it's to late and we're in serious trouble !


£22k in Debt but affording to pay minimum payments ..... with Pennies to spare and also using credit to keep us going !

I have succesfully completed a 90 mth DMP with PayPlan.

Would I recommend them ??? - yes I would.

BUT you have to remember , that they will NOT have the accurate figures for how much you to your creditors only estimates.

You can get the accurate figures by asking the creditors directly.

I congratulate on dealing with your debt problem and I wish you well for the future.

Slothy88

Conundrum time!


This year, I've been paying £65 a month for my car insurance (shocking, I know!). I just got my renewal reminder, and I've found insurance for £320 upfront, or £420 if I pay monthly. I've always paid monthly, as I've never had the money to be able to pay upfront.


HOWEVER.


This year is different. I have a couple of hundred that I kept back as an 'emergency' fund from paying my token payments this month. I am also saving two weeks worth of petrol over Christmas through not working (which equates to about £100), and if I was to pay my insurance up front, it would mean I would effectively be able to save £65 ever month for emergencies.


My question is, do you think it's worth spending my emergency fund to make me better off in the long run, or carry on with the monthly payments and just accept that it's £100 more for the year? My situation isn't so bad, in that my partner is in a very well paid job, and I know that if there was any real emergency he would have no issues paying. I just hate the thought of paying £100 for something which is essentially credit, when I can wipe it straight away.


Opinions greatly appreciated

Time_to_face_the_music

Slothy88 wrote: »

Conundrum time!


This year, I've been paying £65 a month for my car insurance (shocking, I know!). I just got my renewal reminder, and I've found insurance for £320 upfront, or £420 if I pay monthly. I've always paid monthly, as I've never had the money to be able to pay upfront.


HOWEVER.


This year is different. I have a couple of hundred that I kept back as an 'emergency' fund from paying my token payments this month. I am also saving two weeks worth of petrol over Christmas through not working (which equates to about £100), and if I was to pay my insurance up front, it would mean I would effectively be able to save £65 ever month for emergencies.


My question is, do you think it's worth spending my emergency fund to make me better off in the long run, or carry on with the monthly payments and just accept that it's £100 more for the year? My situation isn't so bad, in that my partner is in a very well paid job, and I know that if there was any real emergency he would have no issues paying. I just hate the thought of paying £100 for something which is essentially credit, when I can wipe it straight away.


Opinions greatly appreciated

Over the course of our first year in the DMP, we saved up for both car and house insurance and then paid both off for the year. I know I wouldn't be able to resist making that saving and you do seem to have an alternative emergency fund in your partner .... sorry for putting it like that but couldn't think of another way!

Great lesson in this too, never go with a renewal automatically, there is invariably big savings to be made :T

So I would say go for it.

TTFTM x

Slothy88

Time_to_face_the_music wrote: »

Over the course of our first year in the DMP, we saved up for both car and house insurance and then paid both off for the year. I know I wouldn't be able to resist making that saving and you do seem to have an alternative emergency fund in your partner .... sorry for putting it like that but couldn't think of another way!

Great lesson in this too, never go with a renewal automatically, there is invariably big savings to be made :T

So I would say go for it.

TTFTM x

Great, thanks! And don't worry, that's kind of what he is - there's no nice way of putting it, although I would like to add I'm not just with him for his financial sturdiness


Yeah, my renewal was around £550!!! :eek: It's always funny phoning them and saying "I've found it cheaper elsewhere" "Oh, really, with who?" "You."

Puzzcat

Slothy88 wrote: »

Great, thanks! And don't worry, that's kind of what he is - there's no nice way of putting it, although I would like to add I'm not just with him for his financial sturdiness


Yeah, my renewal was around £550!!! :eek: It's always funny phoning them and saying "I've found it cheaper elsewhere" "Oh, really, with who?" "You."

Similar situation as partner has funds, I do monthly insurance and have kept my emergency fund in tact. I have had over £1000 car repairs this year and vet bills.. For me I like to be able to contribute even if I can't cover all the emergency bills. My oh always contributes but I like to pay my way, iyswim..
Puzz.x