DMP mutual support thread part 13 !!

Willrdouglas1809

Hi,

Just thinking I'm needing some re-motivation regarding my DMP. Total figure at the start was around £22k which started March 2023 and I've now paid £14k (I've aimed at around £400 a month) and had hoped to have it paid by my 30th Birthday in Sept 2027 which is hopefully still possible

One of my debts only recently got defaulted due to Sainsburys selling their business to Natwest which has been a big knock for me as this default will be on two years longer then the rest and I still find it hard to just live a regular life when I can see people of a similar age looking to move out, have nice cars or whatever creature comforts. I know it's not it all cracks up to be and I would never buy a new car but it does just de-motivates me so much to not just to return to old vices (gambling was a big problem for how I ended up where I am) 

what can I do to keep focused? my girlfriend does help, but she's not in a similar position and was able to save a lot of money for the first time last year so I also feel so distant in that regards

sourcrates

Willrdouglas1809 said:

Hi,

Just thinking I'm needing some re-motivation regarding my DMP. Total figure at the start was around £22k which started March 2023 and I've now paid £14k 

One of my debts only recently got defaulted due to Sainsburys selling their business to Natwest which has been a big knock for me as this default will be on two years longer then the rest

I can see people of a similar age looking to move out, have nice cars or whatever creature comforts.

You`ve re-paid 14k, well done.

If Sainsburys didn`t default you within guidelines, then complain to them.

Ask them to backdate the default to when you first got into trouble with your payments, just like the rest of your creditors did, if you don`t ask, you don`t get.

The people with nice cars are likely living a lie, and are actually in twice as much debt as you are, creature comforts do not have to be financed with credit, ideally debt management should learn you to live within your means, and allow you to save for the things you want, otherwise you risk going back down the same old path again.

If you want to treat yourself occasionally, do so.

Willrdouglas1809

sourcrates said:

You`ve re-paid 14k, well done.

If Sainsburys didn`t default you within guidelines, then complain to them.

Ask them to backdate the default to when you first got into trouble with your payments, just like the rest of your creditors did, if you don`t ask, you don`t get.

The people with nice cars are likely living a lie, and are actually in twice as much debt as you are, creature comforts do not have to be financed with credit, ideally debt management should learn you to live within your means, and allow you to save for the things you want, otherwise you risk going back down the same old path again.

If you want to treat yourself occasionally, do so.

Thank you, I think it's just feels so long and yet still so far away, but not like I can turn back

I did log a complaint with Natwest around the default since they now own the business, I've got two theories why Sainsbury never sold it (1. held off selling any debt since my payment was so close to my actual or 2. Hold as much debt to bolster their company value) but don't think there's much I can do with them now. Hopefully the results of this is a back-dated default.

I think by default by not having as much spare income that I do try to live within my budget more, but trying to get some consistancy is the only way I'll overcome this and that's the bit I find the hardest. Something I need to work on this year