DMP Mutual Support Thread - Part 12

Puzzcat

motivated wrote: »

Hi all
Puzzcat. I see you’ve been paying token payments for 18 months or so. Can I ask if the creditors have given you any headache over this?

I ask because I am also paying tokens to my 4 CCs for about 5 months but keep getting a little voice in my head saying ‘if you don’t start paying them more then’........
all 4 are now defaulted.

I have an affordable monthly payment plan in place with Wescot for 2 Halifax loans so I think they will be ok for a while.
I know you’re not supposed to treat creditors differently but it’s working for us at the moment
M

Hi Motivated,

I haven't had any issues with the creditors at all... My i & e does back up what I can afford to pay them and I make sure I respond promptly to any requests for updates etc..

My financial situation isn't going to improve until the middle of 2020, not much I can do about it and as long as I am paying something they all appear quite happy.

Hope that helps..

Puzz. x

motivated

It does help thanks puzz. I will carry on as I am then for a while longer.

sourcrates

LadyMorticia wrote: »

Hey guys! Merry Christmas! Hope you're all trundling along nicely.

I've been checking my credit report and some of the accounts I have debts with have been marked as "closed" and then what the closing balance is (Shop Direct have marked their's as £0 despite me still owing them.) Is this because they've been sold on to debt collectors? I did a Google search and from what I read they wouldn't be marked as closed in this instance, but it's so confusing!

Thank you in advance.

That usually means the debts have been sold on Lady morticia.

The new owners will start reporting on your file shortly.

[Deleted User]

Dorastar wrote: »

hubby's wages minimal and don't cover mortgage, bills and debts at all never mind living.

Have you checked that you are getting all the benefits you are entitled to?

Dorastar

That's another job for the new year too, been trying so hard to get work have not even looked at benefits yet. Was kind of hoping to have something lined up for a January start but nothing has come off. Even had one temp full time job lined up but then got a call mid big Christmas shop to say they are going to cover it internally, gutted

MMC87

Dorastar, if you’re in a universal credit area, I’d get on to that ASAP as it can be a lengthy process to get a claim up and running.

hopeful_at_last

Hi all

Not been on in a while, just to say Happy xmas all and have a fab 2018
I joined in 2013 and was 12 grand in debt, that was alot for me on not such a great wage and on my own. Well come July 2018 I shall be debt free horrahhhhhhhhhhhh
Keep going everyone you get there in then end :T

Just_Afloat

Hi Hopeful, I'm surprised you bothered with a DMP for such a small amount as 12K, I would have just borrowed another 12K to pay it off in the first place....

YES, that was a rubbish joke, maybe I should earn some extra penny's by writing jokes for Christmas Crackers?

Well done, July will be here before you know it!

determinedtobedebtfree_2

Hello all, it's been a while since I posted. Chipping away at my debt with my small DMP payment but when I qualify as a solicitor in September my salary will double and I'll be able to throw a lot more money at it!

I have 2 questions which are kind of linked:
1) I've been reading a lot about snowballing debts by paying token amounts to all, and paying the most off your smaller debts so they're cleared faster, then putting that money to the bigger ones. Is this a better idea than paying "equitably" through a DMP with Stepchange?

If the answer is yes to it being a better idea, should I go self managed??

Any advice would be gratefully received.

M x

troublesparking

Cannot WAIT for 2017 to be over and a new year to start. Personal income down from £28k to £21k. OH been working part time for several years so used CC's as a crutch, bad mistake. :wall::wall:Finally woke up and set up SC DMP, first payment Jan 10th 2018.
Talking through my budget made me realise how much I relyed on CC for everything. For example travel costs were initially based on my journey to work only, but then had to take into account journeys to see Mother in her care home, probable interviews for new year, new job to increase income.
For everyone out there thinking about what to put in a DMP you really need to dissect EVERY CC statement.
Looking forward for being finally in control of my own destiny. :j.