DMP & Mutual Support Thread - Part 10

maganan

Hello lovely people I always read but rarely post (got shouted at offering support on another thread)

It's my birthday, payday too so the spreadsheets still need updating and I've been taking stock! I just wanted to say thank you to all of you for the wonderful advice and support on here, all being well I'll be debt free at the end of October (must update sig!) and I couldn't have done it without you all

Monkeyballs posted about over paying ages ago and this year I've really got into that and have gradually paid off each smaller debt which always feels like such a big achievement and now I only have one left so thank you MB

I've had no luck with one re stopping interest but as it hasn't affected my credit file I'm not sure whether to rock the boat as I'd love a mortgage one day in the distant debt free future

To all the newbies on here good luck, keep reading and stay strong all those feelings are so so normal and you'll soon be supporting others

HH and TTFM wow haven't you both done well please stick around though

Thank you all

Kate x

Kate_fixing_it

We're all fluffy and huggy Maganan! You should post here more often and I've always thought your posts are very helpful and inciteful.

I hope you've had a lovely birthday and what amazing progress! Three (ish) more months! You must be over the moon, going by your signature that's a huge achievement :T

I look forward to seeing your debt freedom declaration

Kate x

Monkeyballs

Evening all!

I've not posted for a couple of days (laziness really, that and being a bit anxious about work) so thought I'd say hi

Lots of newbies again which is grrrrreat to see

Kate - *slap* did that help? it can be hard to let go of "things" because possessions can be a tool we use to prop ourselves up with but you have your man and this motley crew behind you you'll be fine pickle

Maganan - more than welcome! It's amazing what a small overpayment here and there does and it can be like a little reward, much better for you than sweets and cakes anyway LOL

Cya!

MB of G xxx

Karen777

Hello everyone. Kate - sorry you're feeling that way. As Mr Monkey said, possessions mean stuff to us and we have attachments to them but just think of them as helping you towards the spiritual glow that is or will be debt freedom. No slap from me just a 'I'm sorry you;re feeling like that' and I'll have a glass of something here in solidarity with your glass of red
Mr Monkey I'm sorry you have anxiousness, no fun. Hope it passes.
New people hello and welcome. Tis a friendly place.

maganan

Kate_fixing_it wrote: »

We're all fluffy and huggy Maganan! You should post here more often and I've always thought your posts are very helpful and inciteful.

I hope you've had a lovely birthday and what amazing progress! Three (ish) more months! You must be over the moon, going by your signature that's a huge achievement :T

I look forward to seeing your debt freedom declaration

Kate x

Ahh thank you Kate, have had a lovely day with my lovely children and a voucher for the hairdressers :money:

As for being debt free the thoughts a bit scary tbh all that extra money and so many plans but we've managed just fine without it IYSWIM, I just don't want to waste it or stop being frugal

Kate x

Sazzie23

maganan wrote: »

Ahh thank you Kate, have had a lovely day with my lovely children and a voucher for the hairdressers :money:

As for being debt free the thoughts a bit scary tbh all that extra money and so many plans but we've managed just fine without it IYSWIM, I just don't want to waste it or stop being frugal

Kate x

Happy belated birthday, great news on the debt, debt free for Christmas maybe? :beer:

T'other Kate, I think letting go of things is hard, but they will find a welcome new home and make someone else happy, and debts less than 10k in sight ...yipee:T

MB did you say you are having work worries, because it's nots working out going back, or because it is ?

Hi loubylou

Welcome to the thread. It sounds a truly awkward situation, I've no idea where you stand on such matters. Dunno if anyone else has advice re this type of issue.

Don't forget stepchange and payplan are just (free )intermediaries, the debts are still with the creditors or their DcA's. You sound very organised, not to mention fantastically stoic. If you don't want to include all your debts then you might run into issues with SC and PP. Although I'm with SC, I wonder if maybe you might be better of going it alone, the NEDCAB site is highly thought of, and self managed devotees on here recommend it too. It will probably give you more flexibility if you need it.

As things sound a bit dire financially at the moment, I'd go to token payments for at least a month, £1 per creditor per month, this should encourage creditors to accept DMP and lose the interest.


Hope this helps a bit. Sure lots of the others will have some specific advice for you.

antonic

My line of thinking is that if you communicate with your DMP provider and explain WHY, you have to reduce your payments, then they can go to your creditors and explain why.

Your creditors *should* then think " they are being honest about the reduction lets continue to help" rather than "they have defaulted and arent communicating so lets not help anymore and reimpose interest/charges etc".

Hopelessly_Hopeful

toots82 wrote: »

We're lucky enough to be in Scotland so on DAS as opposed to DMP so nobody is allowed to charge us interest, it all had to be frozen as soon as approved.

Makes perfect sense though, I shall open a separate account and pile as much as possible in there.

Thanks for the advice re:mortgage, sounds achievable but am worried about the AP markers, some say worse than default, not sure how to deal with this.

Our max we would ever spend on house would be 200k, have around 35k in this house so should be able to get up to the 20%.

First things first though, breath a bit and enjoy sleeping at nights!!!

Silly me forgetting about the interest free status, I've paid £5871 in interest over the period of time on DMP. You people living in Scotland are very lucky.


HHx

Monkeyballs

Morning all,

Yup, I'd agree with the others. Be honest with SC and just pay a smaller amount, they will then revise your I&E and make smaller offers to your creditors so nothing to worry about

The reason I 've been a bit anxious was about returning to work and being in a huge room with about 150 other people

I went in and had a chat with loads of my workmates, most were great and just happy to see me while others were... Not so friendly... But, screw 'em! LOL

Sadly my triumphant return was a bit of a wash out as by the time I walked there and climbed the stairs to the entrance I was in quite a lot of pain and my boss told me that the job is so intensive that I wouldn't be able to do it and he'd rater I was to stay off until I can at least sit down which I can understand... But, he is setting up a call with HR to discuss options and said that there may be something else I can do in the meantime but for now I'm back to square one

To cap that off, I got the results of my MRI and sure enough there is a healed, damaged and rehealed fracture and one of my discs has desiccated (dried up) which could explain the pain when I do any load bearing activity as there is no cushion so I'm going to be referred to a specialist which could take a looooong time.

So, I have a few more months of being paid at work then there are several things which could happen but if I can't return to my old job I'm hoping that either A) something else will be offered that I can do they put me on a discretionary which could last for up to 5 years or C) they let me go but do it as a redundancy in which case I'll at least get a payout that will last me for a while (est. £8k) while I recover...

So yesterday wasn't the greatest of days but at least I have the results and things can move forward now and I also spoke to SC about my potential loss of earnings and options and worst case is that at some stage I start looking at a DRO but that would be a little way down the line as I would only be allowed assets of below £300 and having £8k (potentially) would be a nice little asset to take even if it would mean leaving me up the creek with no paddle

So a bit negative, a bit positive LOL I'm still a sexy beast despite being a bit broken and having been signed off again by my GP... This time she told me to just do whatever I feel like since doing all the right stuff hasn't helped much so I was thinking bungee... LOL yeah, like f'sure... NOT!

Cya!

MB of G xxx

Hopelessly_Hopeful

maganan wrote: »

Hello lovely people I always read but rarely post (got shouted at offering support on another thread)

It's my birthday, payday too so the spreadsheets still need updating and I've been taking stock! I just wanted to say thank you to all of you for the wonderful advice and support on here, all being well I'll be debt free at the end of October (must update sig!) and I couldn't have done it without you all

Monkeyballs posted about over paying ages ago and this year I've really got into that and have gradually paid off each smaller debt which always feels like such a big achievement and now I only have one left so thank you MB

I've had no luck with one re stopping interest but as it hasn't affected my credit file I'm not sure whether to rock the boat as I'd love a mortgage one day in the distant debt free future

To all the newbies on here good luck, keep reading and stay strong all those feelings are so so normal and you'll soon be supporting others

HH and TTFM wow haven't you both done well please stick around though

Thank you all

Kate x

Belated happy birthday and thank you


It will be time for you to look for your mortgage before you know it


HHx