I want to stop drowning

debtaghh

I stayed with the same agency and they check each time.

ayupmeduck

debtaghh wrote: »

I stayed with the same agency and they check each time.

That doesn't matter as they can't see default and won't know about them unless you tell them.

Can you not work out a dmp budget with stepchange/payplan and inflate the amount in some categories, then use that extra for debts to the parents + surplus?

MrsSave

I agree with other that suggest a dmp may be the way forward for you. It would hopefully remove a lot of the stress. How much do you pay towards your family debt each month?

debtaghh

I pay £250 to them each month

efes_shareholder

I would imangine it would be easy to inflate some your outgoings such as fuel to work etc to account for this £250.00

I spend £50 a week on petrol and work relatively close to home !

MrsSave

efes_shareholder wrote: »

I would imangine it would be easy to inflate some your outgoings such as fuel to work etc to account for this £250.00

I spend £50 a week on petrol and work relatively close to home !

I agree there. I really think it would make you feel so much happier long term if you were to go on a dmp. How about giving Stepchange a call for a chat? It doesn't mean you have to do anything.

debtaghh

My dh spoke to them last time so I'll get him to call them again.

Spendy_Spenderson

I would echo a lot of the comments above, I really think a DMP is the best route for you. I admire your strength and determination and it's great to see aspirations for paying off £20K+ in a year - but this has to be tempered with realism. A goal without a plan, is only a wish.
If your monthly income is £700 less than your necessary and stripped down outgoings then I cannot see room for overpayments, and think you will struggle to just meet the minimum C/C payments in addition to your necessary spends on food, clothes, petrol and bills.


Others are renting on a DMP and have not had an issue in getting tenancies so I think you need to listen to this advice and strongly consider whether this is the best and only course of action. Also please don't take this the wrong way but would it not be better for you to speak to Step Change or Payplan yourself? You have stated in previous posts that you do all the money management in your house. Therefore you have the accurate figures and knowledge of outgoings etc, you are the one balancing the books, managing the pots and feeling the pressure on a daily basis when checking your spreadsheets. I know you might inform your DH about things but would strongly suggest that you speaking to these organisations directly would be beneficial in giving you a clear idea about what a decision like this entails and some understanding on the benefits it could bring.


Have that conversation and go from there - you don't need to do anything yet or make a decision but find out about it first and foremost as knowledge is power.


Good luck.

debtaghh

Thanks. I'm not really sure why I've always asked my dh to call. I think it's because he would be the one doing an Iva. I could call though and it is true I know all the figures etc. Do I stay quiet about the debt to my family and add it on via more food etc?

enthusiasticsaver

I think speaking to stepchange is a good idea. There are various parameters re how much is allowed for things like food etc but I thin' the6 are quite generous and you can allow for building emergency savings and work on your lowest salary payments. No overtime. It is probably best to mention you also owe money to family but they will tell you it cannot be included in any formal debt solution. It might be possible to inflate some categories to lose the £250 family contribution or use overtime to pay them depending on how often your DH does it. You can allow for car maintenance, entertainment, presents etc. You are just getting advice at this point.