New beginnings

User_060921

Okay, lets do this diary thing.

Maybe it will help when times get tough.

£65k in debt.

DMP starts on November 1st.

Payments of £335 PCM

All creditors are aware, most were great (apart from Virgin).

Stepchange are managing my plan. I aim to give it 6 months and review.

enthusiasticsaver

Good luck. Have you done a plan for not overspending and a budget and got an emergency fund in place?

ThatKiss

Happy shiny new diary. Been reading your thread elsewhere so tagging along for the ride.

Good luck!

User_060921

Yes new budget, and a £1200 emergency fund.

New bank account sorted.

Nervously happy about the road forward

Iwantanewlife

Good Luck on your journey!

User_060921

I am going to pop up a new little thread about this.

So, i have still not missed any payments, strictly speaking, but i have told all my creditors about my predicament.

Today I have received a default notice from American Express demanding full payment or they will cry!

From reading other posts i am hoping this is actually a good thing?

findingthisdifficult

Happy New Diary, there will be times that this journey will be tough but it will be totally worth it.
I find reading other's diaries keeps me positive when the harder times hit.

Glad you've got your EF in place, I'm still working on mine....it's a slow burner at the moment.

User_060921

Little bit of an update.

I have eight debts and these are the responses thus far

Halifax x 3 (credit card/overdraft/loan) - they have agreed the DMP albeit they were at pains to point out its not an official agreement.

Barclaycard - 30 day breathing period no other contact

Virgin credit card - agreed to DMP

Nationwide loan - 30 day breathing period acknowledged - no other contact

American Express - defaulted me immediately

MBNA - 30 day breathing space acknowledged - no other contact

[Deleted User]

Welcome and best of luck on your journey.

Dxxx

User_060921

I have found the watching of the purse strings to be both empowering and stressful.

My wife is fully aware of what’s happened and why, so that does help to reign her in too.

Part of me does wish I had just not paid anything for a few months and then started the dmp.

However - rightly or wrongly, that didn’t sit well with me.

I get paid on the 15th if the month - so we are only 8 days in. Typically, my boiler needs a repair, and my daughters laptop has broken which has frustrated my mood a little.

But, I am at least at peace with my decision making and by god will I win this battle

enthusiasticsaver

Ok well you have your emergency fund so that is good. You can ask to delay the DMP but I would get quotes for essential repairs (presumably boiler?) and your wife has to pay half. The laptop can wait until next month and your daughter can use the school library for homework.