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New member and desperate for help
vaper
Posts: 105 Forumite
Hi there
I've been lurking for a while and decided to join as we are thinking of going down the DMP route. It's the only way out of this mountain of debt that were in.
I've been reading some of the posts on here and think my first step is to get a new bank account, we currently have cards with
Barclaycard
Santander
Capital 1
Co-op
Mint
MBNA
Mortgage with Britannia
I think that's it.
Also our current account is also with co-op so this is the reason for needing a new one
I'm at a loss who we could get an account with as we seem to have them all. Are there any others NOT on this list please.
Many thanks
I've been lurking for a while and decided to join as we are thinking of going down the DMP route. It's the only way out of this mountain of debt that were in.
I've been reading some of the posts on here and think my first step is to get a new bank account, we currently have cards with
Barclaycard
Santander
Capital 1
Co-op
Mint
MBNA
Mortgage with Britannia
I think that's it.
Also our current account is also with co-op so this is the reason for needing a new one
I'm at a loss who we could get an account with as we seem to have them all. Are there any others NOT on this list please.
Many thanks
Don't put menthol vape juice in your eyes!!!
0
Comments
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Hi Vaper,
Congrats on your first post.
Have you completed a total incomings and outgoings before you formally go down this route?
Posting an SOA would help people make a balanced opinion.Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS0 -
Capital One - 950/1400 :eek:
Barclay Card - 400/1250 :beer:
Overdraft - 1500/2100 :mad:
Personal Debt - 0/2000 :T
nPower - 900/1115 :A
Total - 3724/7900 -- 52% paid off!0 -
Wow that was quick, thanks.
I'm in the process of trying to do all the income and outgoing sand should be able to post it tomorrow. All I know is that we are living off credit cards and can't see any way out of it, we currently owe about £58.000 on them (that's scary) and the interest is sky high, at this rate we'll be dead before they're paid.
I will post the SOA as soon as it's done.
Thanks again for speedy repliesDon't put menthol vape juice in your eyes!!!0 -
After I fill in the SOA can I upload it to this thread?Don't put menthol vape juice in your eyes!!!0
-
yes you can“People are caught up in an egotistic artificial rat race to display a false image to society. We want the biggest house, fanciest car, and we don't mind paying the sky high mortgage to put up that show. We sacrifice our biggest assets our health and time, We feel happy when we see people look up to us and see how successful we are”
Rat Race0 -
Also our current account is also with co-op so this is the reason for needing a new one
I'm at a loss who we could get an account with as we seem to have them all. Are there any others NOT on this list please.
Many thanks
Lloyds do a good basic bank account.
Apply online, instant decision, no credit check, and you get a visa debt card.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Don't worry, the way we handle debt in the UK is very good. You won't be asked to pay back more than you can afford.
Get your finances sorted, and a DMP set up and the stress will fade away (but you do have a long journey of budgeting ahead of you for that amount)Capital One - 950/1400 :eek:
Barclay Card - 400/1250 :beer:
Overdraft - 1500/2100 :mad:
Personal Debt - 0/2000 :T
nPower - 900/1115 :A
Total - 3724/7900 -- 52% paid off!0 -
Please read through as much of the DMP support thread on this forum as you can, go back a few if possible as there is so much information and advice on there that is worth knowing about before you start your DMP.
Based on what you have said, I think a DMP is the right choice for you but its just worth reading and getting some knowledge before you start.
There are so many helpful and knowledgeable people on that thread too so if you have any questions, dont be afraid to ask.
Good luck with everything xxDMP Number 437
LBM May 2015 47k in debt
Starting DMP 1st July 20150 -
Nationwide also do a basic current account if you prefer the idea of a Building Society to a traditional bank.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25
Balance as at 31/08/25 = £ 95,450.00. Balance as at 31/12/25 = £ 91,100.00
SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
So, I've tried and tried to post the SOA but I'm working on an I pad and can't find a wy to post it on here
Will just have to write it down and type it onto here, I'm really struggling with this, already feel like throwing in the towel, I can't do this so don't know how I'll cope with demanding letters etc.
I did at least manage to open an account with lloyds, just got wait now for them to sent the cards etc through the post. Thanks everyone for your help.Don't put menthol vape juice in your eyes!!!0
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