DMP Mutual Support Thread - Part 12

motivated

ayupmeduck wrote: »

Excellent. My proposed repayment plan will be tiny though.

As long as you can back it up with your I & E everything should be fine. My payments to them are less than half what I was paying on my original agreement. They were fine about it
M

booksandbacon

Copying this over from my Debt-Free Diary because...

Trying not to freak out

OH and I have just done our first ever budget with help from SC and NEDCAB. I know we’ve deliberately overestimated parts of it but it still leaves barely anything for the debt.

According to our plan, our DFD is May 2037 :eek:

I know that this is just a start, and that once we get stuck in we’ll be able to properly evaluate what we spend so we can overpay or put aside for F&F’s.

I feel positive that we’re doing something about it, but I also feel that it’s come to this, that this is how irresponsible we’ve been.

motivated

booksandbacon wrote: »

Copying this over from my Debt-Free Diary because...

Trying not to freak out

OH and I have just done our first ever budget with help from SC and NEDCAB. I know we’ve deliberately overestimated parts of it but it still leaves barely anything for the debt.

According to our plan, our DFD is May 2037 :eek:

I know that this is just a start, and that once we get stuck in we’ll be able to properly evaluate what we spend so we can overpay or put aside for F&F’s.



I feel positive that we’re doing something about it, but I also feel that it’s come to this, that this is how irresponsible we’ve been.

Hi booksandbacon

I bet you that everyone who has needed to go down the DMP route will have felt the exact same feelings as you. Myself included. It is what it is, you are dealing with it and you will look back and wonder what the panic was about. Take it from someone who knows
Try not to think about your DFD and focus on small baby steps. Maybe set yourself small targets to hit as you go along.

Keep posting and you will get so much support and advice here.

Everyone here got me to the point I'm at now, still hugely in debt but a lot happier, calmer and moving forward not back and not afraid of our creditors anymore either.
M

DMP_Tiger

booksandbacon wrote: »

Copying this over from my Debt-Free Diary because...

Trying not to freak out

OH and I have just done our first ever budget with help from SC and NEDCAB. I know we’ve deliberately overestimated parts of it but it still leaves barely anything for the debt.

According to our plan, our DFD is May 2037 :eek:

I know that this is just a start, and that once we get stuck in we’ll be able to properly evaluate what we spend so we can overpay or put aside for F&F’s.

I feel positive that we’re doing something about it, but I also feel that it’s come to this, that this is how irresponsible we’ve been.

My debt-free day is sometime in 2048 :eek:

However, circumstances change over the years and financially things will improve. As long as you have left yourself enough money to live on and have a little fun then don't worry too much about your current DFD. You can always adjust your budget to pay more, or if your low payments are accepted by your creditors (which they should be if backed up by a full I & E) then you can use any extra money to save for F & F's.

However long away your DFD is, it has to be better than the current worry of paying your creditors each month and then trying to survive until payday without using your credit cards?

gbrm

PHEW! I've taken the plunge. After a few nights of little to no sleep, I logged onto StepChange and I've started the ball rolling.

£26K of Debt being paid off over 4Yrs9Mo @ £468/month... Just need to email back pictures of payslips and creditor account details.

I need to open a new current account... Is this something you can do online nowadays or will I need to go to a branch?

The stories on this forum where EXTREMELY helpful and reassuring - thankyou to this fantastic online community!

Cheers,
J

DMP_Tiger

gbrm wrote: »

PHEW!

I need to open a new current account... Is this something you can do online nowadays or will I need to go to a branch?

You can do it online.

2017spark

Hi all,
Just an update - On Friday evening I emailed SC and have requested they delay the start of my dmp to the beginning November (was scheduled for beginning August) - so i can build an emergency fund, clear CTAX debt (just 1 month) and get car through MOT/ Service...... Not sure what they will say, or my creditors but I think its the right thing for me to do.
In fact, next I will be telling them, rather than requesting..... its my DMP and this will enable me to start it properly and not be struggling to stick to my planned budget. (I am starting to change my mind set!)
Fingers crossed they understand - I have £0 emergency fund right now, so that's the main reason behind this - and once I start payments into my DMP I want it to happen each and every month until my DFD.
Hope you are all well xx

tillboy

I figured this would be the case, guess I'll just play the waiting game now for it to be sold on.

Still waiting for a response from:
Very
Next
Aqua
Lendable
& Nationwide

anybody else had issues getting a response?

Whats the next step, sending them a letter anyway and start making payments until you hear otherwise or wait for a reply first?

motivated

gbrm wrote: »

PHEW! I've taken the plunge. After a few nights of little to no sleep, I logged onto StepChange and I've started the ball rolling.

£26K of Debt being paid off over 4Yrs9Mo @ £468/month... Just need to email back pictures of payslips and creditor account details.

I need to open a new current account... Is this something you can do online nowadays or will I need to go to a branch?

The stories on this forum where EXTREMELY helpful and reassuring - thankyou to this fantastic online community!

Cheers,
J

I opened a Santander basic account online. It was quick and easy. I also got with it a top up debit card. Account up and running in a matter of days too

I can transfer money online from our main account on to the debit card. I only put on it what I can afford to spend. It's been a Godsend as I don't overdo it on shopping. All DDs and SOs are from out main account. I also opened 4 online savings accounts with them and can transfer money between all of them.

Good luck
M

DMP_Tiger

tillboy wrote: »

I figured this would be the case, guess I'll just play the waiting game now for it to be sold on.

Still waiting for a response from:
Very
Next
Aqua
Lendable
& Nationwide

anybody else had issues getting a response?

Whats the next step, sending them a letter anyway and start making payments until you hear otherwise or wait for a reply first?

Aqua are one of my creditors. They haven't responded to anything that I've sent them so I'm currently paying them £1 per month. It does look like they've frozen interest though as the balance is exactly the same as it was in May (less £2).