DMP Mutual Support Thread - Part 12

EmergencyNurse

Basic Advice Please:

Just completed a National Debt Helpline Budget, just need some confirmation....for amounts owed do you put in the amount you are are supposed to pay each month OR the total amount you owe until the end of a credit agreement.

System

EmergencyNurse wrote: »

Basic Advice Please:

Just completed a National Debt Helpline Budget, just need some confirmation....for amounts owed do you put in the amount you are are supposed to pay each month OR the total amount you owe until the end of a credit agreement.

That would be the total amounts you owe. Good luck. You will always find support here.

January2015

jaxsmar wrote: »

Just started my DMP journey. My first payment has been paid via s/c. The heavy weight that I've been carrying has been lifted. I only wish I did it years ago. I got offered the choice if a DMP or DRO. But choose a DMP. I owe 3 creditors. I've heard from 2 so far but I haven't received any nasty phone calls, but I had been paying the debts right up to one month ago, I had never missed a payment but was juggling between 2 credit cards, increased my overdraught etc but when it came to food shopping I realised that I couldn't carry on as I was skimping so much that I couldn't buy a bag of apples because I needed bread. Something so stupid made me wake up. I had been on ML for years read all the posts yet I just kept thinking something will come along....I could kick myself. Anyway onwards and upwards. I will be relying on you guy's for help as I'm sure at some point I will need advise and inspiration.

Can I ask why you opted for DMP over DRO ? Totally appreciate it is your choice, but just wondering what swayed you towards DMP rather than DRO ??

Welcome to our forum by the way :beer:

NewbieNat

I would be grateful for advice. I will be starting a DMP in the near future. I left one small debt off of my list. It's a smaller debt than the others & I am able to pay it once the DMP is set up. I have been reading conflicting advice on various sites regarding this.Would my other creditors find out about it? By the time I start my plan, it will be £200.

Thank you

sourcrates

jaxsmar wrote: »

Just started my DMP journey. My first payment has been paid via s/c. The heavy weight that I've been carrying has been lifted. I only wish I did it years ago. I got offered the choice if a DMP or DRO. But choose a DMP. .

I`m also interested to know why you didn't go for the debt relief order ?

jaxsmar

January2015 wrote: »

Can I ask why you opted for DMP over DRO ? Totally appreciate it is your choice, but just wondering what swayed you towards DMP rather than DRO ??

Welcome to our forum by the way :beer:

I seriously considered a DRO at first, but it just didn't sit right with me I read stories how other people had conquered their debt as I said I've been a member of ML for many year's. I felt inspired by others, I'm a bit old school its my debt so I'm responsible. A DRO sounded a easier option ( at first) but after reading posts I realised that it wasn't. I could see the pro's of a DRO. Debt cleared quicker, then work on building up credit. I've decided to pay the debt.... ( I'm going to be dead by the time its all paid..not joking) but hoping to plod along and hopefully offer lump sum. BTW January your own posts have been so helpful.

sourcrates

jaxsmar wrote: »

I seriously considered a DRO at first, but it just didn't sit right with me I read stories how other people had conquered their debt as I said I've been a member of ML for many year's. I felt inspired by others, I'm a bit old school its my debt so I'm responsible. A DRO sounded a easier option ( at first) but after reading posts I realised that it wasn't. I could see the pro's of a DRO. Debt cleared quicker, then work on building up credit. I've decided to pay the debt.... ( I'm going to be dead by the time its all paid..not joking) but hoping to plod along and hopefully offer lump sum. BTW January your own posts have been so helpful.

Seriously, if you meet the criteria for a DRO, then do it.

After one year your debts are cleared, and you can start to live again, if your debts are going to take that long to clear, i fear you have made the wrong choice.

jaxsmar

Thanks sourcrates I did ask you for advice on a DRO.. You were helpful now you have me thinking did I make the right choice, but I still stand by my decision perhaps further on down the line I might feel differently and regret it, it really was what felt right for me. Actually Sourcrates you've made a interesting point can you change from a DMP to DRO?

sourcrates

jaxsmar wrote: »

Thanks sourcrates I did ask you for advice on a DRO.. You were helpful now you have me thinking did I make the right choice, but I still stand by my decision perhaps further on down the line I might feel differently and regret it, it really was what felt right for me. Actually Sourcrates you've made a interesting point can you change from a DMP to DRO?

Yes of course you can.

I didn’t realise we had spoken before, sorry.

If you meet all the criteria for a DRO, then really it’s silly not to take advantage of that, they are after all, put in place to help you.

You need to apply through an intermediary such as stepchange or CAB.

At present I think there is a bit of waiting time due to various factors.

January2015

jaxsmar wrote: »

Thanks sourcrates I did ask you for advice on a DRO.. You were helpful now you have me thinking did I make the right choice, but I still stand by my decision perhaps further on down the line I might feel differently and regret it, it really was what felt right for me. Actually Sourcrates you've made a interesting point can you change from a DMP to DRO?

Definitely find out if you can change it - the legislation is there to support people like you so make use of it. Don't feel guilty

You could be debt free in one year and start to plan a debt free life going forward