Gemmzie's DMP Diary (Year Two)

Gemmzie

Right we have a problem, we are £200 short a month on average, the DMP payments will now be £242 - oh dear, we're stuck again...

Karmacat

Hi Gemmzie, reading through these pages in full, and knowing your age now, totally makes me realise what a tough situation you're in, you sound like you're working so hard to take care of your mum and dad, and to be honest it *doesn't* sound like you get much co-operation back.

Hopping back to your soa, what strikes me is that tho you have the endowment, you also have mortgage insurance. What is that? Can that possibly go? Sorry not to be of more help.

Gemmzie

Thanks Karmacat, I said I'd help when I first sorted things out last year thinking they'd be able to manage themselves now but I just seem to be left doing everything for everyone, money-wise. I don't mind to a point, but like you said without the co-operation it's impossible.

The mortgage is actually in two bits, one is repayment at £600-ish on £75k, the other bit is £180 which is interest only on £33k. The endowment will pay off the interest only bit - can't remember when, think it's when my parents are 60 so 2020?
Have looked into whether it was mis-sold but doesn't look like it - just a very naive move by my dad.
The mortgage insurance is for all of it - because dad's self employed, if he can't work it all goes interest only until he can work again, I think he said.

Karmacat

I guess that makes sense - I'm self employed, and don't have that sort of insurance, but then again I watch my money like a hawk.

But you're (they're) still £242 short, your post up above said..... have you thought of anything yet? Its a lot of money, I hope there's a way you can find it. Lots of hugs.

southernscouser

Karmacat wrote: »

Hi Gemmzie, reading through these pages in full, and knowing your age now, totally makes me realise what a tough situation you're in, you sound like you're working so hard to take care of your mum and dad, and to be honest it *doesn't* sound like you get much co-operation back.

Totally agree with this. I don't mean to talk out of turn hun but you shouldn't be having to shoulder all the responsibility for all this!

What do your mum and dad do?

You're a good kid. I just don't think it's fair that this is all burdened (sp) on you.

taxi73

Glad you found enough for the tax but am inclined to agree with others above..it's such a lot on your young shoulders!!!
Being £242 p/m short is a lot and I seriously think that you should call one of the free advice places in to deal with it. I cannot see what you can change now but YOU HAVE DONE A FANTASTIC JOB keeping their head above water.
What a wonderful daughter you are ..if you go down CCCS or payplan route then maybe they can come up with a plan that will leave them adequate to cover everything..the companies will just have to accept less...
I'd be proud to have you as my daughter...take care xx

Gemmzie

Thanks all, I'm nearly crying here...

We spoke to CCCS and National Debtline who both couldn't help as dad is self-employed.

Hopefully my mum should be getting a decent pay rise in April so hopefully it's only for a few months.

I just feel like it's so much of a struggle and as soon as we get a little ahead, something goes tits up.

southernscouser

Gemmzie wrote: »

Thanks all, I'm nearly crying here...

Onions?

And there is nothing wrong with tits going up.

Do your mum and dad take any control? Surely they can see it's not something you should be burdened with? :undecided

Gemmzie

Well dad runs his own account that we put money in from the main household account, but that only covers his DDs and petrol but he still goes over occasionally (:mad:).
Mum does the food shopping but I have to budget how much we can afford.

My mum's struggled with money issues with dad since they got married (hence the massive debts), I don't think she can do it any more She's not financially minded at all anyway.
Dad's an ostrich - he's useless with money, the secured loan was his bright idea.

I don't even understand where all the debt has come from really, it was so much so quickly relatively. We've lived for a year without credit, even lowered it a bit and survived (just) so I can't understand it.

southernscouser

Gemmzie wrote: »

Well dad runs his own account that we put money in from the main household account, but that only covers his DDs and petrol but he still goes over occasionally (:mad:).
Mum does the food shopping but I have to budget how much we can afford.

My mum's struggled with money issues with dad since they got married (hence the massive debts), I don't think she can do it any more She's not financially minded at all anyway.
Dad's an ostrich - he's useless with money, the secured loan was his bright idea.

I don't even understand where all the debt has come from really, it was so much so quickly relatively. We've lived for a year without credit, even lowered it a bit and survived (just) so I can't understand it.

Maybe it's time to introduce them to this site! After all, what are they gonna do when you move out?

I just don't think it's fair that you're burdened with it all, but you are a star for doing it. :kisses3: