Time to start a fresh. 11 January 2021 at 8:20PM in Debt Free Diaries 1.1K replies 44.1K views

BlueJ94

Really racking my brain tonight. 
I started my DMP but I'm slightly regretting it. I honestly don't know what to do. 
I have two smaller debts ocean finance and capital one both combined are £400. That's one DMP payment, if I can afford the dmp payment why couldn't I of paid these off? I'm really really tempted to cancel my DMP altogether and get my head in the game and focus focus focus! I want to be in control on my own debts, I don't want to feel like someone else is going to do it for me. Otherwise I think i really won't learn from it. Any advice whoever may be reading

Sarahwithlove

Now you have done the DMP the damage is done so I would keep going and focus on using this time to get your budget sorted, get an emergency fund and even possibly overpay the DMP. 

BlueJ94

Sarahwithlove said:

Now you have done the DMP the damage is done so I would keep going and focus on using this time to get your budget sorted, get an emergency fund and even possibly overpay the DMP. 

I've only started my DMP this month, they're still contacting creditors etc. But thank you, will get my budget sorted

Sarahwithlove

Yes true but the moment one defaults that's the mark on your credit file and damage is done so if one has already defaulted you might as well stick it out in all honesty. Plus this way if anything we're to happen and your income drop for example you can get the company to help you renegotiate your payments rather than having to do them all yourself. Up to you some people prefer to do it themselves others like it to be managed for them. 

BlueJ94

Sarahwithlove said:

Yes true but the moment one defaults that's the mark on your credit file and damage is done so if one has already defaulted you might as well stick it out in all honesty. Plus this way if anything we're to happen and your income drop for example you can get the company to help you renegotiate your payments rather than having to do them all yourself. Up to you some people prefer to do it themselves others like it to be managed for them. 

Ah yes, very true. Thank you

BlueJ94

Plan of action today 
I know I have 4 CC under £500. Two of them are at £200 each so I'm going to pay them both outright next month if I do decide to come off the DMP and I'm going to offer F&F on two others, just seeing what they will offer.
Write to all CC and Loans and see if they will stop interest and charges.

MAKE A BUDGET! I keep putting this off. I need to do it! Someone check in on me at 8pm to see if it's done 😐

BlueJ94

To do list this evening 
- clean up spare room
- Add stuff to ebay (if it's still max £1 fee)
- make fake away zinger meal!
-mop and bleach bathroom
-sort a budget!!! 

FootyFanDan

just a reminder to sort your budget!!! hahaha. 

BlueJ94

FootyFanDan said:

just a reminder to sort your budget!!! hahaha. 

Hahaha thank you! At least someone reminded me, I'm in the process of filling it out as I wait for my fake away kfc zinger burger to cook

Sarahwithlove

How's the budget looking? Did you get it sorted?