i just want peace of mind

timeforaction_2

I have today opened a joint bank account ready to move all my essential dd from the bank I have debts with ,the only way out of this mess is a dmp I don't know whether to try it on my own first ,as I have 3 creditors mint rbs and Barclays I am managing to keep up pay ments but using cards to live on so just debt spiraling

[Deleted User]

A joint bank account is not a good idea, if you are defaulting on your debts.

It could impact on the other person.

double_mummy

bob stop posting before me lol!!!!

seeing as the account has already been opened you will already be affecting the other persons credit

you need to discuss this with the person that you have the joint account with absolutely no point in discussing it with us

do they want to help and support you with your DMP? do they want to help with your debts at all?

[Deleted User]

double_mummy wrote: »

bob stop posting before me lol!!!!

You need to be quicker off the mark.

double_mummy

i will try harder next time i do apologise

i was talking to my children i think they wandered in from the wilderness (garden) and wanted ice creams and i just couldnt say no to their smiling faces and have a lil bowl or 2 myself

timeforaction_2

its for both of us

timeforaction_2

sorry when I said try it on my own I mean try doing the dmp without using a company

Lensman_2

Hopefully the "domestic" between BB and HM is now over, so let's get back to the advice.

BB is right, separate accounts are important.

You could start on your own DMP and call in the charities if you struggle. No problem with that.

But you must start with a Statement Of Affairs. This will tell you how much you actually have available for your debts and give you a starting point for offering repayment amounts to your creditors.

A good calculator is here:
http://www.stoozing.com/calculator/soa.php
and it is a recognised format for submission to creditors (if you so choose) and charities.

Fill it in with rough figures to start with and go back to it a few times to get it accurate.

People here will give you advice on what you are allowed if you are brave enough to post it up for review. But don't worry if you are not.

timeforaction_2

Thanks Lensman I have just done soa and lost it all I will have another go at it tomorrow

foolsgold01

Hello Timeforaction,


I know you posted on my thread too as we sound like we are in the same boat and sinking!!:(

We too have opened up a joint basic account with no overdraft facility. Sadly most of the debt(s) are solely in my husbands name but I feel I have contributed to the situation for him and really want to work through this....somehow!


I would be interested in your thread too as this is the question I am unsure of to do it alone or with assistance and what a DMP actually is in practice for people and how it affects you day to day/month to month.


Its a horrible horrible situation isn't it?

timeforaction_2

Hi Foolsgold01 yes it is a horrible situation, I have just done the stepchange remedy tool and its saying to go for an iva but I don't want to lose our home,we just seem to be sinking in the sea of debt:( maybe we can support each other through the rough times ahead ,I wish I could go back in time