Urgent Help Please

graemewh

I have entered a DMP I pay £250 a month which is fine as I get paid approx £1300 a month however I need to get a loan so urgently to help my mum and dads care and also going on holiday, I have the funds to pay any monthly instalment I was looking to get £2000 but I cannot get one anywhere I do not want to do a payday loan as that will push me into a deeper spiral can anyone help me please im starting to panic and its not good

HampshireH

This is a duplicate post also posted on the loans page.

I think 2 things come out of this why are you having to take a loan out to provide care for your parents and if you can't afford to go on holiday taking a loan to make it happen isn't a sensible choice.

I can't assist on the guidance (sorry) but you will just be adding to your debt.

If your parents need care have you asked social services for support/checked all benefits are being claimed?

graemewh

I need money for general things as well its not just the care and holiday Ive got myself in a bad way and now I have sorted my debts with a DMP so I can afford to pay a monthly rate, so this loan would boost my funds up and help me massivley

MEM62

graemewh said:

I need money for general things as well its not just the care and holiday Ive got myself in a bad way and now I have sorted my debts with a DMP so I can afford to pay a monthly rate, so this loan would boost my funds up and help me massivley

You entered the DMP as a solution to your debt problem.  Now that solution is in place you want to 're-dig' the hole you got yourself into by borrowing again.  It would appear that you have not learnt the lesson first time round.  Things like holidays, which are not a necessity, should be funded from savings - not borrowing.  You are not stepping off the slippery slope and further borrowing will only lead to further misery - not matter how much you convince yourself that you can afford it.    

Grumpelstiltskin

Firstly who is your DMP with?

I hope a debt charity and not a fee paying company.

Secondly you say you are paying £250 monthly, how did you arrive at that amount, did you allow for things like emergency savings?

Thirdly why can't your parents sort their own finances out and not rely on you?

fatbelly

A dmp involves making agreed payments below the contractual terms.

That means that defaults will (should) be applied to your credit file entries to reflect the reality of your situation.

No reputable lender will touch you with a load of fresh defaults on the file.

If your circumstances mean you cannot afford the agreed payment to the dmp then you negotiate a lower figure or go to token £1 payments or stop it altogether..

Your parents need to research their own options

sourcrates

Your local council has responsibility for conducting a financial assessment of your parent's care needs, the amount of support they get depends on their circumstances, have you, or they asked the council for any help?

As for the holiday, such things should be budgeted for out of your disposable income, not by panic borrowing.

Your entire post is a mish mash of contradictions, you need to properly clarify your circumstances.

SusieT

In your SOA that you did for what I hope is a debt charity and not a fee paying provider, you would have amounts that you are saving each month for holiday and emergency fund. Those savings would be there for the other "things" and for your holiday. So, having gone into a DMP with your budget where have you been putting those amounts that are budgeted for? It sounds as if you (as so many others have done in the past) have been thinking la la la all is good now the debtors are off your back, and instead of saving you have used your holiday and emergency money on everyday things, and are now in panic because you cannot go away. Normally a dmp has terms saying that you do not take on more debt while you are on it, so by taking out a loan you could lose the dmp if the provider discovers it. I would cancel the holiday as it will be better to lose any deposit than to get a loan, yes I know it will be embarassing if you need to tell friends you cannot go), look for the other things on freecycle etc. and from now on put money away for holidays and emergencies, and only go on holiday if it costs less including spending money than you have in the holiday fund.  
I have been in your position and most people her ehave as well so we all know how hard it is to cut everything back and be really strict with budgeting and saving, but the other side of it is so much brighter when you have no debts and there is money in the bank to pay for things.
You or your parents need to contact your local council as they will pay for care, there may also be benefits available to them to help, but that would depend on their circumstances and level of care needed.

enthusiasticsaver

A DMP is something you go into if you cannot repay your debts so the last thing you should be doing is taking on more borrowing. Your parents financial situation will be assessed to decide how much they will need to contribute to care costs and holidays are non essential and certainly borrowing to pay for them is not the answer. 

CasualMFW

graemewh said:

I need money for general things as well its not just the care and holiday Ive got myself in a bad way and now I have sorted my debts with a DMP so I can afford to pay a monthly rate, so this loan would boost my funds up and help me massivley

A couple of posts ago you mentioned being able to easily afford the monthly repayments on your DMP, this clearly isn't the case if you're trying to get a loan to fund "general things", presumably food, bills etc?
How are you budgeting? Do you know how much money you have left each month?

As others have mentioned you need to cancel the holiday, you can't afford it and inform your parents that you're unable to help them out. 

RobM99

DMP and looking to borrow for holiday?  You are kidding.