DMP - How big was yours?

beckstar1975

Nearly £60K in December 09 (ish) - just over 1/3 way through and currently at £39K - dfd approx Oct 2017

It's been a long haul and eldest will be at secondary school before paid off, but will be worth it in the end

Puzzcat

monkey1000 wrote: »

Hi guys - just sent off the paperwork for my DMP today - £86K. Think I'm going to have a rocky road for a while. My question to you guys is, 1 of my creditors is Barclaycard - and possibly wrongly I have opened a Barclays cash card account as my new basic bank a/c. Didnt think about the connection - do you think i should change to another bank??

Not sure who your dmp is with but I believe Stepchange say that they have a special arrangement with Barclays and the right of offset is not used.. Best give your dmp provider a ring and check or alternatively just open a different account!

Puzzcat

Started my dmp in November 2013.. total debt £60062:eek:Currently £56039... deftfree date.. when I get there but on the right road...

GrinC

I've just started the process now (scared to bits) it's about 10K. Hopefully will be debt free in 3 years time. I wish i'd done it sooner (or not got inot this state in the first place)!!

Coinmachine

50k started in March - finish date of March 24, 10 years but I am hoping if I can increase it in a few years to maybe shave some of this time off.

bargainbetty

timeforaction wrote: »

Im going to have to do a DMP my debt currently stands at about 30 k loans to Barclays and a Barclaycard about 11 k and 2 cc with rbs for about 9 k feel like the worlds going to cave in on me going to try and do it myself how much would you suggest I offer

You need to prepare a statement of accounts. Show your income and expenditure and use the National Debt Helpline figures for your allowances for food etc.

Work out your debts as a total, and as percentages of that total.
When you have calculated how much disposable income you have to pay back the debt with, divide it up according to those percentages. If Barclaycard is 60% of it, offer them 60% of it.

You don't have to send them copies of the statement, but it may help them accept your DMP if you can demonstrate that you are treating all your creditors fairly.

Use the templates letter either on here, or on the NDH - remember to ask that interest etc be frozen. Good luck

subboy2

Good luck lads and lasses - you will get there in the end!

dazla

£35.000 at May 2011, down to £10.500 now, dfd April 2016 but hope to finish it a bit sooner. Needless to say Barclay's have been the most unhelpful creditor, I pay £630 a month and its tough going to be honest, but I can now see light at the end of the tunnel

mary_hinge

my Dmp with SC started with just shrapnel above £24k and currently sits just above £19k :eek: it is decreasing though and my DFD has reduced by 4 years at my review :j

Meatloaf1981

My DMP was for over £34k and is only a wee bit less than that now. I'm in the unfortunate situation that my credit union refused the DMP and so take the lions share of my repayment at £150 whilst my other creditors share a measely £29 and so their totals barely drop each month. On the plus side, my credit union loan should be paid off sooner than the other creditors and my credit union repayment can then go on this.