DMP & Mutual Support Thread - Part 11

January2015

Puzzcat wrote: »

Good Morning Fellow Dmp'ers.. and a very merry christmas to you all.... :xmastree:

Sorry I have been rather AWOL for a long time.. all still ticking along and I am still on mse everyday, just generally on my diary..!

I wanted to post a little update from me that I posted on my diary..

Have been looking back at the year and we did fall behind quite a bit with the proposed payments for 2016. Unfortunately most of this couldn't be helped with car trouble and getting dd sorted for uni, not to mention the rent needed so i am not going to beat myself up but celebrate the positives...

So achievements..

I have paid off £4515 of my dmp in 2016...:T
I have paid off £1625 to my lovely mother loan and the rest was written off.. :T
So total debt payment for 2016 = £6140 :T
I also saved £600 for the first rent payment and have £1200 saved for the next 2 payments..:T

Positive v Negative...... I have bought a new car, well new to me.. so a new loan needed of £4000 from lovely father. This has bought me a tremendous amount of pleasure... I think my old car was causing some of my anxiety, always worrying when she will go wrong again, how much will it cost etc... So this is a massive plus.. I know its increased my debt and subsequent speed at repayments but its so worth it....I will continue to save my car money each month but hopefully as I have a years warranty and don't have to pay tax that pot will grow instead of being constantly depleted....

I am paying reduced dmp payments until April to most of my creditors and have a few complaints I am waiting to have resolved. I love being self managed and still love my dmp..all £40700 of it.... (Better than the £60062 we started from..)

I probably won't drop into the top of the £30k bracket until the middle of the year but that's okay with me, I am finally getting my life back and I love a good marathon...

Hope you all have a fantastic christmas and here's hoping to a debt smashing 2017...

Love Puzz. x

Way to go Puzz :j:j:j:j

Fantastic achievements over 2016 - I hadn't thought of looking at my figures over the last year but will definitely be doing that

Don't feel guilty about the car. If we didn't have some niceties to get us through the DMP we would all crash and burn :eek: Anyway, a car is probably not a nicety for most people and a reliable car is a must. Enjoy it - I know I would

It fees strange, but I love my DMP so much as well. I never loved being in debt to the tune of almost £95k, but I love being in control and knowing that we have a plan and there will be an end to the debt mountain. It doesn't matter that it's not going to be anytime soon, I just feel I am on top of that mountain, jumping up and down and squishing those debts into oblivion :rotfl: Self managed was also a great decision for us. I will always be grateful to SC for starting us off and for giving us the training to be disciplined with our budget - I honestly don't think I could have gone from debt disaster to self managed straight away because I hadn't learnt enough lessons to cope.

Merry Christmas to you Puzz - enjoy shopping in that new car of yours

CP2016

Hi Puzz, I'm not sure where you live but here in the back of beyond a reliable car is an essential not a luxury. My old banger is still getting me around with minimal fuss but once she starts costing me sleepless nights it will be time to get a newer one.

OrganisedNic

Hi all! Way to go Puzz, your optimism gets me through the day

Update on Halifax - I received an unusually nice letter (!) explaining interest and charges are being dropped for 6 months with a drastically reduced monthly payment all of which will be revoked at the end of the 6 month period (so maybe not so nice...). I am still paying a token payment for the next 2 months but following that, I'm fairly certain the allocation from SC will exceed that minimum reduced payment - should I tell SC ? Has anyone been in a similar situation?

Nic

CP2016

I think January2015 had something similar with Helifax. I'd think that whether their proposed repayment rate is higher or lower than what SC is proposing doesn't matter - you're paying what you can afford to SC and they are distributing it amongst your creditors fairly but you could give them a call to check anyway.

Hope everything is beginning to settle down for you.

January2015

OrganisedNic wrote: »

Hi all! Way to go Puzz, your optimism gets me through the day

Update on Halifax - I received an unusually nice letter (!) explaining interest and charges are being dropped for 6 months with a drastically reduced monthly payment all of which will be revoked at the end of the 6 month period (so maybe not so nice...). I am still paying a token payment for the next 2 months but following that, I'm fairly certain the allocation from SC will exceed that minimum reduced payment - should I tell SC ? Has anyone been in a similar situation?

Nic

CP2016 wrote: »

I think January2015 had something similar with Helifax. I'd think that whether their proposed repayment rate is higher or lower than what SC is proposing doesn't matter - you're paying what you can afford to SC and they are distributing it amongst your creditors fairly but you could give them a call to check anyway.

Hope everything is beginning to settle down for you.

Yes, we did have something similar with Helifax. However, we wrote to them - I will PM you a copy of our letter (with our details deleted) and you can see if it's of any help to you. Helifax were great and backed down and refunded interest and charges that had been added since the start of our DMP.

OrganisedNic

Fab thank you January you're a little star
I will continue with tokens for now and keep an eye on statements and whip out the big guns if they start to get mardy..!

Good news on the biggest creditor (FD loan) - they've oh so kindly rejected the offer from SC and it's been passed on to collections department. There's mention of default but not getting my hopes up just yet:rotfl:

CP2016

Yup, I don't think they realise how happy a default makes us.

Mardy.... excellent word, brings back my childhood - it was a popular insult and now that I live in another part of the UK I never hear it but I have learned some new words to take its place.

[Deleted User]

CP2016 wrote: »

Mardy.... excellent word, brings back my childhood - it was a popular insult and now that I live in another part of the UK I never hear it but I have learned some new words to take its place.

It made me smile to see the word too:). Although I live only about 80 miles from the area where I was born and raised I find people here don't really understand what it means, or rather what I mean by it;). I think it has different shades of meaning depending on where it's used.

somuchindebt

Hi, one of my creditors has sold debt onto Lowell. I asked original creditor to send me the letter, so I have something in writing, that I now need to pay Lowell and not them, but they don't want to send me one. Am I right to be worried that I will be paying to Lowell and in few years time original creditor might come after me, as it's them who the agreement was with? They say I will get the letter from Lowell, but really, any company could send me the letter saying I owe them, and I would like to get the letter from original creditor (Halifax). Thanks

OrganisedNic

Perhaps that's my northern-ness coming through!!