DMP & Mutual Support Thread - Part 10

Puzzcat

livingindreamland wrote: »

when you did your review, did they ask for wage slips etc? Just hubby has been doing a it of overtime the last few weeks, but this isn't guaranteed. So I guess what I really want to know is should he not do any for a month before our 1st review is due?

No I just did it all online and updated the tiny increase in my salary and a few other areas up and down. I do also get occasional overtime and was told by SC not to include as its not regular.

Growurown

Kate_fixing_it wrote: »

I'm actually glad we had the PDL discussion - especially in such a non-accusatory way. As MB says it's such a divisive subject to discuss and as it's been said it shouldn't be about "winning", these companies have taken advantage of the taboo nature of the subject. If any of this discussion helps one person see past the blind panic of the moment then we've done something wonderful here. (And we've all been very grown up about it

Yes we have haven't we?:D

I have seen many a judgmental comment by other forum members saying things like - the conditions of the loan are clearly set out before you agree to borrow etc. etc.

Life isn't that simple though and we all make mistakes, we all have our demons that mean we spend money on things we shouldn't. However we have taken responsibility and are paying back our debts. Well done us:T:T:T:T

Time_to_face_the_music

Growurown wrote: »

Yes we have haven't we?:D

I have seen many a judgmental comment by other forum members saying things like - the conditions of the loan are clearly set out before you agree to borrow etc. etc.

Life isn't that simple though and we all make mistakes, we all have our demons that mean we spend money on things we shouldn't. However we have taken responsibility and are paying back our debts. Well done us:T:T:T:T

No judgement here and yep, well done us! :j

Monkeyballs

Puzzcat wrote: »

Have upped my payments by £13 a month and taken 2 months off my dfd...:D

Pretty awesome going that's about 41p per day extra... What can you get for 41p per day?

I guess you could have a large cappuccino each week from Starbucks?

Nah, being debt free 2 months earlier is miles better and healthier too

MB of G x

sunnyskies2

Puzzcat wrote: »

Interesting chats about responsible/irresponsible borrowing/lending. I never had pdl' s so can't really comment on those, but I often wonder about the responsibility of the bank that does annual financial reviews and offers you 10k loan to pay off od and cc and does not close the accounts to stop you reusing them...my choice to run up the debt again but if they had closed this avenue I may not have gone into a dmp owing them 20k...I was an irresponsible borrower, they an irresponsible lender...ho hum hindsight is a wonderful thing and I love my dmp...:D

Hi, a bit late to reply but lots going on - just thought I'd add my experience, our bank asked us in a few months before LBM. They could obviously see things were starting to get out of control for us and they couldn't offer any reduced rates for consolidation so suggested we re-mortgage with them and secure the £36k of debt to it - thank goodness we were beginning to open our eyes to debt etc, a year ago we might have gone for it! It doesn't bear thinking about - where we might be now if we'd done it - the DMP angel must have been looking over us :A

Monkeyballs

sunnyskies2 wrote: »

Hi, a bit late to reply but lots going on - just thought I'd add my experience, our bank asked us in a few months before LBM. They could obviously see things were starting to get out of control for us and they couldn't offer any reduced rates for consolidation so suggested we re-mortgage with them and secure the £36k of debt to it - thank goodness we were beginning to open our eyes to debt etc, a year ago we might have gone for it! It doesn't bear thinking about - where we might be now if we'd done it - the DMP angel must have been looking over us :A

How responsible of them to suggest...

MB of G x

sunnyskies2

blisteringblue wrote: »

Currently 57K, although it was over 60 3 months ago

And loving every minute of it. 1.7% paid off every month.

Hi blisteringblethat's brilliant :T I can't wait to actually start paying mine (starts Sept) - I'm prepping for it and not great with excel - is there a free template you use to show percentage of reduction of debt etc?

Thanks - Sarah

sunnyskies2

Puzzcat wrote: »

Just completed my first SC review online, very painless...

Have upped my payments by £13 a month and taken 2 months off my dfd...:D

Hi Puzz isn't it amazing how a seemingly small amount (to some, but appreciate not to all) can make such a difference to debt freedom - it's certainly a motivator to find extra ways to put more money towards the payments. Onwards and upwards :T

Sarah

gettinggoing

Kate_fixing_it wrote: »

Try to look at this as you sitting around a table with Barclays and saying: "hands up, I need your help. We are getting nowhere currently, my priority bills are going to be paid but I need you to work with me on the rest". Debt isn't a crime - you'd ask for crutches to help you get around if you broke a leg so a DMP is (sort of) asking for crutches to help you get along financially.

A DMP is informal. There are no adjudicators telling you what to pay - SC are just the physiotherapist helping you to learn to get around again and holding the door open while you do it yourself. And again much like recovery from a broken leg (sorry for all the leg stuff ,it's constantly a theme for me ) life won't be the same again. It'll be better. You are giving your finances time and support to recover and learning new ways to do things so that they don't break down again.


SC are nothing short of amazing. In a few months you won't know yourself. I won't promise you'll get your life back (would you want it the way it was?) but you will feel better, you will be able to live without the stress you were/are under and things will be easier all round.

I can't speak for Barclays but most creditors will appreciate you making the effort and asking for help. They'll recognise that you want to repay them and you are taking steps to do it responsibly before things are totally out of control (although they probably won't tell you that

Kate x

Kate - thank you so, so much! You have made me feel a million times better. I'm going to spend tonight getting all my stuff together ready to send off.

Rather bizarrely, I applied for a basic account with the coop and got refused but have now had a card sent through! Maybe it's a sign.

Any reassurance about the mortgage would be gratefully received.

Thanks

Janine

gettinggoing

Thanks - yes they did say they had a special relationship - so fingers crossed! Do you think they will try anything with our mortgage - I just don't want to mess that up as well.