desperate to sort my life for last time

jwil

Good luck with going self managed for your DMP.  Your creditors will take whatever you can evidence is leftover after your incomings and outgoings.  I used NEDCAB for mine, and it calculates everything for you and drafts the letters to your creditors. https://nedcab.cabmoney.org.uk/dmp.asp Make sure your budget and payments are realistic taking into account the cost of living crisis, you need to live as well (though cutting down on unnecessary spends is important to tackle what got you into debt in the first place).  If everything is too tight, you'll just wind up in the same situation again.  Better to make low payments and save the extra to put towards F&F settlements than be constantly struggling in my opinion.

If you were offered a £200 settlement on an £800 debt, that's a really good offer.  There is nothing to stop you writing to the creditor and offering a similar amount (or perhaps a cheeky offer of even less) to see if they bite, if you have the money available and want to clear one.

Well done on sticking to budget, and don't forget charity shops and ebay for a coat, you might find a great bargain.

Desperadoo

jwil said:

Good luck with going self managed for your DMP.  Your creditors will take whatever you can evidence is leftover after your incomings and outgoings.  I used NEDCAB for mine, and it calculates everything for you and drafts the letters to your creditors. https://nedcab.cabmoney.org.uk/dmp.asp Make sure your budget and payments are realistic taking into account the cost of living crisis, you need to live as well (though cutting down on unnecessary spends is important to tackle what got you into debt in the first place).  If everything is too tight, you'll just wind up in the same situation again.  Better to make low payments and save the extra to put towards F&F settlements than be constantly struggling in my opinion.

If you were offered a £200 settlement on an £800 debt, that's a really good offer.  There is nothing to stop you writing to the creditor and offering a similar amount (or perhaps a cheeky offer of even less) to see if they bite, if you have the money available and want to clear one.

Well done on sticking to budget, and don't forget charity shops and ebay for a coat, you might find a great bargain.

Thanks 

Yes used the cdb templates and all letters away.  

Desperadoo

Haven't updates in a few days but  been busy busy in background ..so long post lol

First my new self managed DMP.....New payments to 4 debts with 3 debt companies now all confirm and set up.  These debts total £36k so glad they are sorted.  Waiting on 1 more companies coming back ro me. Total debt with these is £2k.  Decided to use  a Monzo account I have ro put my DMP money into on 26th each month and standing orders set up to pay these companies on 28th. One company won't take a payment except by card but will sort that

We have a joint account that household bills are paid from and as all this months now paid I took the "odd money" to round down ro nearest £50 and transferred to savings .. I did this a few weeks ago as well...our bills mostly go out 28th-1st with a few odd ones in between.  We have paid a set amount into this account for years and every few months will  have a little extra we then remove.  Trying to get all DD changed to 28th-1st as hubby changing from weekly to monthly pay soon.

Groceries account I have also taken money left at pay day to savings and as I use Chase account  interest , roundups and bonuses also to savings ans managed to add £73 this week!!!

Did a bit of sorting  for bank accounts this week as well and closed a few I don't use so now working on

1.DD account for all household bills
2.Chase Current accounts..groceries / eating out...as can't have a joint account I have app on phone and hubby uses my card if he goes for shopping
3.Monzo which will be used for my DMP as above
4.Chase pots for... Saving, Christmas, Birthdays, Car expenses.

Need to really do a meal plan and see what I have in freezer today as I.buy so much food and then waste it.  Still spending ro much eating out 😵  think we spent about £30 this week...allowed £15 ....need ro really get this under control

jwil

Making great progress, well done!

motivated

Hi Desperadoo

ive stumbled across you and your diary when I searched self managed DMP.  

Can seriously relate to all you've said.  We've been there done that got the t shirt.  

We are currently with payplan on a DMP. (Been with Stepchange then self managed now payplan.   You'd have thought we would have got things sorted by now.  

Anyway self managed DMP keeps creeping back into my mind.  I have everything ready on nedcab and am so tempted to go back to doing it myself as it gives more control.  

Glad you are on the right track now. Will be following your progress.  Good luck
x

Desperadoo

motivated said:

We are currently with payplan on a DMP. (Been with Stepchange then self managed now payplan.   You'd have thought we would have got things sorted by now.  

Anyway self managed DMP keeps creeping back into my mind.  I have everything ready on nedcab and am so tempted to go back to doing it myself as it gives more control.  

Morning 

Thanks for your reply. 

I'm so glad I took the plunge. Although I never missed a payment it was going to get tough in the next few months so had to sort it before ir got to the point of not being able to pay 

Desperadoo

Another week and a quick update

Self Managed DMP.....still waiting on reply from 1 creditor , smallest debt of £800 and if I dont hear from them will just send the payment anyway I have preposed.

Grocery challange...have set up a budget for groceries / 1 meal out a week... on one hand we are within the budget and was able to add £28 to savings this week ( what was left at end of week ) and £35 last week BUT still spending far to much eating out / carry outs.  Have started to shop in lidl which is really helping but need to get into more of a routine.

Had a little extra wages this week but still transferred normal into our joint account and the extra into saving. Also this weeks pot money for car, Christmas , birthdays all tranferred and feeling good to know that will be there when we need it.