New to Stepchange and dmp

true81

Hi

I've just signed the paperwork with Stepchange for a dmp for all of my debts.
So here goes! I've feeling really guilty about not making the required payments, today is the first time in years that I have been able to look at the credit in my account without wondering how I'm going to make it stretch and pay all of the bills and pick and choose what bits of shopping I am able to do beyond milk and bread!
According to the initial calculations with Stepchange it will take me 2 years but I expect this to change when creditors start charging default charges, I'm not behind on my payments to creditors have always juggled to pay but haven't been shopping properly and only eating on certain days.
My debt is around £14,000

anna_1977

Good luck - I signed mine last month....had my first phone call today from Barclays Partner Finance re not receiving monthly payment (even though they had my DMP payment!)
Well done, I have a lot longer than 2 years so very envious

stormpassing

Hi True81 and anna_m,

I also recently signed to a DMP with DH. Two of his creditors have written to us accepting the agreement and both have stopped interest. I was in the same position, not having missed any payments but robbing Peter to pay Paul. It's so nice to have enough money for necessities after many years struggling to make ends meet. Have you had a look at the DFW challenges. I have gathered that it's a good idea to have an emergency fund as we no longer have access to credit so have joined a couple of the challenges to help me save.

Good luck both,

SP x

crazy_cat_lady

Just wanted to wish you luck with your debt busting. I am just coming to the end of a DMP of almost 6 years, and I cannot recommend Stepchange highly enough - they are worth their weight in gold to a stresshead like me.

true81

Hello

Thank you that is exactly what I was doing juggling the payments, I was worrying last night that I won't Be able to just order a coat or something the kids need from a catalogue, but I know it's for the best, I haven't had a look at the challenges yet will see if I can find them in a bit and have a read.

National_Debtline

Hi True81


I second the others' wishes of good luck with your DMP. The one-off expenses like clothing that you mention should be factored into a reasonable household budget, allowing you to put a little something by in the months where you don't buy those items so that you can save up for them. The various money-saving challenges you'll find on here will definitely help you do more with less.


Dennis
@natdebtline