DMP & Mutual Support Thread - Part 11

[Deleted User]

Little Miss_Sunshine

Well done on taking that vital but scary first step on the road to debt-freedom:T. You'll be enjoying much better sleep once it all kicks in, I guarantee it:j

My starting debt was not much under £57000 in the spring of 2013. Like January, I was paying each debt by borrowing from another CC. By only being able to pay the minimum balance on each card every month I found the added interest was eating up what little credit I could get hold of per card and it became impossible even to make minimum repayments:o. I was panic-stricken and desperate.

I'll not say life is easy on a DMP, for one thing I am paying more per month than is comfortable but I'm determined to get rid of this burden as soon as I can. I'd advise you to cut yourself a bit of slack, you need a life whilst debt-busting and I wish I'd done the same.

I know I can always reduce my payments to my creditors but seeing the debt going down gives me such a thrill that I don't want to;). I'm now down to just under £32000 in debt and by the end of March I'll be in the £20000s (just:rotfl:!)

Whatever you do don't worry. It's still a scary place to be even with StepChange on your side but you will get there. Post on here whenever you want as there are some very wise heads who have 'been there and done it' and can give you the best advice possible.

Sleep tight:beer:

cydney11

Just want to say I have been catching up. with recent posts. I am not a prolific poster but I do keep and eye on this forum and have found it invaluable support.
I too do not tell real life people about my DMP with SC begun in 2011 and it would have been a far more anxiois time without this. Huge belated congratulations to GRO. A great acheivment..... and also big welcome to all recent DMPers. You are absolutely doing the right thing..

I owed 25500 at LBM September 2011. I now owe jst over £5000 ,. My official DFD is Jan 2017. However i want to make that a lot sooner. I have just 3 debts left halifax CC and 2 barclay cc. After some wrangling halifax froze interest a couple of years ago and closed the acxounnt. They mark it as OK on CRA and do not accept im on DMP as i pay well over minimum. they do accapt SC payments though. Because it looks like a normal account i have assumed they would not accept a settlement offer and plan to try to pay in full by February 16. I was wondering though if it wiuld be woth a try to offer less? I aslo wondered if anyone has any thoughts on if Barclay would take an offer so close to the end of AP, or should i just accept paying the full amont to both.

Btw I am on Barclay AP , but dont want to to open another debate on aps just whethr or not they might accept some reduced payment.

Cheers.

Growurown

Little_Miss_Sunshine wrote: »

Charging orders - I stupidly read all about them just before going to bed. Result - no sleep again.

Thank you

Oh bad little miss sunshine! Never read scary stories just before bedtime! If you read back through the thread and previous threads there are very few problems people have had with charging orders. I can only recall one in the four and a bit years I have been posting here. I think it is unlikely (but of course not impossible), so try not to worry about it, put it to the back of your mind and if anything rears its ugly head we'll worry about it then;)

Sazzie23

cydney11 wrote: »

Just want to say I have been catching up. with recent posts. I am not a prolific poster but I do keep and eye on this forum and have found it invaluable support.
I too do not tell real life people about my DMP with SC begun in 2011 and it would have been a far more anxiois time without this. Huge belated congratulations to GRO. A great acheivment..... and also big welcome to all recent DMPers. You are absolutely doing the right thing..

I owed 25500 at LBM September 2011. I now owe jst over £5000 ,. My official DFD is Jan 2017. However i want to make that a lot sooner. I have just 3 debts left halifax CC and 2 barclay cc. After some wrangling halifax froze interest a couple of years ago and closed the acxounnt. They mark it as OK on CRA and do not accept im on DMP as i pay well over minimum. they do accapt SC payments though. Because it looks like a normal account i have assumed they would not accept a settlement offer and plan to try to pay in full by February 16. I was wondering though if it wiuld be woth a try to offer less? I aslo wondered if anyone has any thoughts on if Barclay would take an offer so close to the end of AP, or should i just accept paying the full amont to both.

Btw I am on Barclay AP , but dont want to to open another debate on aps just whethr or not they might accept some reduced payment.

Cheers.

Ok no BC AP carp! :cool:

Sorry I'd don't have the info about BC and F&F but there are a couple of F&F threads about on the DFW boards so possiblly worth posting on the front page.

Of course you could just give it a try and see how you get on?

sourcrates

Little_Miss_Sunshine wrote: »

Charging orders - I stupidly read all about them just before going to bed. Result - no sleep again.

Thank you

it is easier for a creditor to obtain a charging order now, they can apply as soon as a CCJ. Is awarded, but, and it's a big but, you would have to default on the CCJ. Payment, before an order for sale could be even entertained.

You are a long way off this situation, the result of a late night, and overthinking I assume, most debts never get anywhere near a court.

Sleep well !!

January2015

Hello everyone :wave::wave::wave:

I hope December is being good to you all.

I've been posting across the DFW forum over the last couple of weeks and suddenly realised that even though I am not even one year into my debt free journey yet, I feel able to respond to new DFWs queries with advice based on my experiences. What a turnaround in such a short time:D

I know how much the support and advice meant to me (and continues to do so). However, I must say it's such a good feeling to be able to give something back to the forum and help others starting on their journey.

I am still so enthusiatic about our DMP journey - I can't help but smile most days and I can only say to newcomers to DMPland I was an emotional, stressed out wreck this time last year. You will also find the change in you comes amazingly quickly once you are settled into the DMP. The difference is the control I feel I have over our debts, and the knowledge I have in how to deal with our creditors. I've gained all this from joining the DFW forum and the best thread on the forum....that's right, THIS ONE :T

You may notice I talk about "I", but mention "our" debts. That's right, my darling DH has his fair share of the debt but he just trundles along each day and leaves dealing with the fallout of reaching debt crisis to me. Fallout is actually how I would have termed it this time last year. Now, he leaves "managing" the debts to me. As long as he doesn't have to speak to anyone about anything to do with debts he's happy. That's fine by me. I suspect, from reading numerous posts on the DFW, this is a very similar situation in many relationships (one partner managing things, the other just signing the required letters etc).

Anyway, enough waffle from me for tonight. I really just wanted to drop in and wish you all a very happy, frugal and/or well budgeted Christmas :beer:

Jan -x-

Little_Miss_Sunshine

That's us January 2015! I'm slowly getting there. I just want it all in place asap. I'm looking for to a Xmas not on credit! I'm still panicked about a charging order ...... But we'd be unlucky for all our creditors to do that. We have a lot of equity in the house and only have 3 years left on the mortgage. 1 thing at a time.
You've being a great help - thank you

January2015

Hi everyone

2 letters received today. VirginMoney have sold our CC debts. They are currently with an interim company who will assign them to a business partner in 6 to 8 weeks. I've phoned and got the details of who to pay for now, but it will change again soon - so they advise me.

I've updated SC with the change details - so all is good with our VM debts.

We are getting there - not sure where there is yet - but it's looking a lot nicer than where we came from at the beginning of the year

Puzzcat

Hello...
Strange.....Creation finance who I took to the fos with regards to interest charged over a year ago and agreed to reduce it have not charged any interest this month...! Maybe a Christmas gift..if so it now means all my debt is now 0%………
Puzz.x

Little_Miss_Sunshine

Thanks for the support. Busy day at work. Phone call to step change - we're nearly there. The budget is sorted. All debts included and bank accounts opened with nationwide.
Quick question - how do you mov your dd 's??