On my way to a better place...

Better_place

Hello everyone
I am starting my journey, clearing my debts along the way and finding the person I used to be before I became weighed down with money worries, let alone the stresses of everyday life – family, work, health, the list goes on….
Stepchange have been assisting with me with my debts for the last 10 months or so, but on checking my online dmp I can’t understand how they have worked the payments out to each creditor – some I owe less to seem to be getting more than others, and also, I’m never quite sure of the actual balance, but I’ve just let it rumble on. After reading your journeys on here about self-management, I found myself invigorated enough to take the plunge. Today, I have written to all my creditors informing them that I am self-managing from now and asking for up to date balances, and how do they want me to pay them etc. I need to get a handle on exactly how much I owe each one, there are 8:eek: . Don’t get me wrong, I don’t know what I would have done without Stepchange this time last year.
A bit about the rest of me – married with a DD, she is 16 and happy at college – recently got herself a weekend job at a well-known fast-food place. DH suffered with a back injury last year, so he only works very limited hours now hence the financial predicament. I work full time (seems like more).:rotfl:
I am so excited about this journey, I’m sure there will be bumps in the road but I’m ready for them. I will not be making any payments until March/April time as I have rent and gas arrears to take care of first – they are not huge amounts but have been playing on my mind and need to be cleared. Has anyone else taken a break before starting self-managed from Stepchange or another provider? How was it?
Best get on with some work now… I have a funny feeling I will be spending quite a bit of time on here. I love reading everyone’s journey.:T

enthusiasticsaver

Good luck with going self managed. There is a DMP mutual support thread on here you may find useful.

beanielou

HAppy shiny new diary

Better_place

Hello Enthusiasticsaver and Beanielou - thank you and hello. I am looking through the dmp mutual support thread - and wow - makes you realise you are not alone.


Frosty start to the day, scraping ice off the car this morning. I love breathing in the frosty air - makes me feel all good about myself. At work at the moment, will be here till 4 today and then early finish. Food shopping to be done. My DD has her first exam next week - poor thing - every spare minute she gets she's studying, but enjoying it so that's not so bad.


Had a good tidy-up in my bedroom yesterday, oh, so much stuff. I am taking old clothes to the charity shops but I came across some really nice bits and bobs that I am going to take to work and sell via our intranet - hopefully will bring a few pennies in. DD used to play football and so after spending a small fortune on new football boots, shin pads, gloves etc etc., she decided she didn't want to play anymore. I kept all her stuff and now will sell it and recoup some cash.


Should be going to WW tonight... but we'll see. It's all about wellbeing now, rather than focussing on losing weight. I'll see how I get on with the shopping first. If I don't go tonight I can find another session to go to.


Back to the daily grind of office life (shouldn't moan, it keeps a roof over my head). Have a good day everyone.

Better_place

Today is payday, money split into where it needs to be. I have written to all my creditors about going self managed and asking for up to date balance and have received responses back, only two of them actually give me my balance, the others are saying I need to send an income and expenditure to them so they can see that my payment to them will be affordable... I haven't offered them anything yet... but will send i&e back anyway - I was going to with my offer letter. This will be the next stage of paperwork, see what comes back and then allocate accordingly. I read on here that someone said treat this process like a business arrangement which has really stuck with me .


I went to WW the other day, lost a pound.. so that is going in the right direction as well. Not that I expect to maintain over the next week but you never know.


I am ready for Christmas as well, earlier than usual - normally because I'm buying stuff up until the last minute on Christmas Eve for some strange reason... not this year though. Each of them has a well thought out present and that's it. Saved lots of money and it felt good knowing that what they're getting is something they really want.


Two more days at work this year... tomorrow is a day off, just house stuff to do.... but am looking forward to it. Got a stinker of a cold so being at home will suit me. Might start to prepare my offer letters and get them sent back just after Christmas.

enthusiasticsaver

Sounds like you are doing well both with progress on self managed DMP and Christmas preparations. So much less stressful to be buying within budget and not on credit.

NeverendingDMP

I went self managed after being with stepchange. I used the debt line formula to work out how to split the money I then offered. It splits it pro rata as opposed to the way stepchange do it. I was worried what everyone would say when they got payments that were less than before due to the way it was split up but no one bothered at all.
Good luck on this next stage of your journey. If you have a box file or notepad where you can write down all the reference numbers and contact addresses before you leave stepchange that makes it easier.

Better_place

Hello enthusiasticsaver and NeverendingDMP - I really do feel I am making headway, mentally at least. Just had a text from 118 saying thanks for your offer of payment, we will accept £60 a month, first payment due tomorrow. You have to smile! I haven't offered them anything yet. Thanks for the tip about reference numbers etc. Tomorrow I will prepare letters so I can go back to 118.:)
It's absolutely chucking it down here.
The kettle is calling.

Better_place

Up early this morning. Need to make the most of this day off. I've sat down to properly work out my budget and offers. I really would like to be able to keep some money aside to maybe pay these debts off late next year with a fi&f but I also feel I should really be paying as much as I can each month. I have £12k debts and if I go all out could do £450 a month. However I am leaning towards lower payments. I really do need to keep something by. My largest debt is £2500 so with careful planning I could see this one off first. I know that whatever I do i need to be able to maintain it.
Am dropping my DD into town later as she wants to do a bit of Christmas shopping with my sister. I'm going to stay at home and prepare our roast chicken tea.:D and come to a decision about payments.

Better_place

Mmm, what am I on about? £450 a month to service my debts.. no no no. This is why I am in debt, I'm rubbish at accounting for things. I had missed things off my budget, even with Stepchange, not sure how I did that, but there you go. It's no wonder I'm in this mess - I guess I thought if I put more into my debts then everything else would go away?? I have £256 a month for debts going forward and that is with a whole day (nearly) spent on looking at my budget, making cut backs etc. The total I have reached is what I can afford, so I'm going to split it fairly between creditors and that will be that. Also, my daughter goes to college now and has a bus pass which is £50 a month....
One day left at work, then off until 2 Jan... shouldn't wish my life away but bring it on. I am ready for the break. Will print my offer letters off tomorrow (at work, naughty me..:o) and get them sent out on Christmas Eve, however they won't be receiving anything until March. I will then enjoy the Christmas break.
Off to WW tomorrow morning...

Better_place

Went to WW and 2.5lbs off :j so pleased with that.
I also emailed all but two of my creditors yesterday with my offers of payment. Three have responded already accepting my offer. Today I have posted the other two letters - couldn't find email addresses for them.
Busy day today, was up early tidying round then went shopping. Also went to put the wreath on my grandparents' grave. Will do my mum and dad's on Christmas day - always leaves me a little sad but then I get home and Christmas gets underway and I realise that although I have lost people I love I am also surrounded by people I love.
Tomorrow looks set to be another busy day so will be having an early night tonight. Have one last shopping trip to do, and hoovering.
I am glad to have so much time off from work I have been looking forward to this break for ages.:D