Feels like im going under!

NiteEyez1980

Makingabobor2 said:

NiteEyez1980 said:

I have mots etc in February. 

If I can get thru Dec, Jan and Feb and save 1k that should help.

Will they let me go 3 months tho without a response? 

As others have said, just ignore the creditors. If you feel you must answer their calls, then just tell them to only contact you in writing. I never answered 1 phone call from ours, once we started our journey. Eventually they will get the message and default you.  They will get their response, when you are ready to give it to them

As @EssexHebridean has said though, how are you going to manage to save an EF of £1K by February? You have no spare money every month to do this,,,,,....

This would be through the non payment to the creditors, the cutting down of everything that m we have already, the 2 months non council tax payment (as pay over 10), saving money on fuel with the 2 weeks of not driving to work, car booting stuff etc

EssexHebridean

NiteEyez1980 said:

Makingabobor2 said:

NiteEyez1980 said:

I have mots etc in February. 

If I can get thru Dec, Jan and Feb and save 1k that should help.

Will they let me go 3 months tho without a response? 

As others have said, just ignore the creditors. If you feel you must answer their calls, then just tell them to only contact you in writing. I never answered 1 phone call from ours, once we started our journey. Eventually they will get the message and default you.  They will get their response, when you are ready to give it to them

As @EssexHebridean has said though, how are you going to manage to save an EF of £1K by February? You have no spare money every month to do this,,,,,....

This would be through the non payment to the creditors, the cutting down of everything that m we have already, the 2 months non council tax payment (as pay over 10), saving money on fuel with the 2 weeks of not driving to work, car booting stuff etc

OK - this bit. Again - if I'm remembering your SOA correctly, wasn't what you were paying to the debts entirely ABOVE what you have available to pay to them, and that was part of the issue you had, and why we were so adamant that you needed to just stop paying them ASAP? If that IS the case, then right now stopping paying to the debts isn't creating any surplus at all, as there was no money there for that in the first place. 

Savings on fuel are good, and measurable. The council tax thing - have you made that change and been told the reduced DD amount? How much have you made car booting so far, and how much more do you have to sell? 

It's incredibly easy to trick yourself into thinking that savings are available when they aren't - I'd be surprised if there were many of us on here who hadn't done that at least once, so just wanting to make sure you're focusing clearly on the actual money coming in, and have a solid budget now in place for what is going out again...

Here we go - this bit:

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR

Natwest credit card............5276......122.......0

Natwest overdraft..............1200......26........0

Natwest loan...................16000.....254.......0

Next...........................600.......50........0

Creaton (wardrobe) ............500.......16........0

Sainsburys credit car..........9449......180.......0

Virgin credit card.............6549......70........0

Tesco credit card..............4961......61........0

MBna credit card...............5915......151.......0

Hsbc credit card...............3142......130.......0

Shawbrook bank loan............13674.....247.......0[b]

Total unsecured debts..........67266.....1307......-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 4,000

Expenses (including HP & secured debts). 4,004.5

Available for debt repayments........... -4.5

Monthly UNsecured debt repayments....... 1,307[b]

Amount short for making debt repayments. -1,311.5[/b]

I've bolded the bits that are relevant. 

SusieT

NiteEyez1980 said:

I have mots etc in February. 

If I can get thru Dec, Jan and Feb and save 1k that should help.

Will they let me go 3 months tho without a response? 

If you ignore them they will have to go 3 months with no response - they will also go 6 months if you decide to ignore them for that long. YOU are now in charge, and to them you are not a person, you are just a number on the computer, so try to change your thinking a little bit

Kakiste

kimwp said:

OP is just at the start of the dmp journey, he's asking when you sent the paperwork to set up the dmp to the companies. (Unless I'm mistaken). Full and Final offers won't be for a little while.

My apologies I completely got the wrong end of the stick. I had my lightbulb moment in early February- cancelled all my direct debits the same month- March was the first time I didn't pay any creditors- I started speaking to Stepchange in March and identified a DMP as the best route for me- I then signed all the paperwork in April and sent it in for the DMP to begin on May 1st. By that point I'd already received letters from all but one creditor telling me that unless I could pay a stupid amount in May (multiple thousands) to bring my non-payments back on track that they'd default me in June- I obviously didn't pay and got the defaults through the post in June and July that year- filed them for safekeeping. I'm now more than half way through the 6 year period before it drops off my credit history- every month shifts the balance futher. 
 

Kakiste

Oh and someone on this board said something I found very helpful at the start of my DMP- like you I was really worried about what the companies would say/what they would think. Someone at the time commented that it is literally the other person's job at that company to talk to a huge number of people each day about their debts. For you it is stressful and a huge step- for them it is Wednesday.

They honestly don't care if you owe their company money- it's not their own money- they'll be working their way down a big list of people to call that workday. Just be polite and stand your ground. 

NiteEyez1980

Well this is bizaare. 

I've missed payments on all but a couple (that went out before sorted) 

Alot of blocked calls, but no bad letters, 1 has actually increased my credit limit and bizarre as hell my credit rating has gone up??

New bank account now has all my original dd, and wages to be paid in.

Be interesting to see what happens in December. 

kimwp

Good to get an update, I was wondering how you were doing. I wonder if the credit increase was in the pipeline before you missed a payment. Credit ratings are funny, they can sometimes go in a different direction from what you'd think.

Great that you've got the new bank account all sorted now.

NiteEyez1980

OK sitrep for everything. 

New bank account set up. 

All dd in old account cancelled. 

All essential dd: mortgage, counci tax, rates, energy, tv etc trans to new account.

December will be m2 of no credit paid!

Old cc cut up.

December will be new bank account and no credit in use. 

SusieT

NiteEyez1980 said:

OK sitrep for everything. 

New bank account set up. 

All dd in old account cancelled. 

All essential dd: mortgage, counci tax, rates, energy, tv etc trans to new account.

December will be m2 of no credit paid!

Old cc cut up.

December will be new bank account and no credit in use. 

Well done, thata a very good clean start. Hopefully you will get the defaults soon and can get on with the debt clearance. Do you have a saving account for what you will be paying to the DMp, and for your butgeted monthly amounts that you need for annual bills? That is a must have so that you can live without credit, and can fund insurances, presents and days out etc from what is in the account

kimwp

SusieT said:

NiteEyez1980 said:

OK sitrep for everything. 

New bank account set up. 

All dd in old account cancelled. 

All essential dd: mortgage, counci tax, rates, energy, tv etc trans to new account.

December will be m2 of no credit paid!

Old cc cut up.

December will be new bank account and no credit in use. 

Well done, thata a very good clean start. Hopefully you will get the defaults soon and can get on with the debt clearance. Do you have a saving account for what you will be paying to the DMp, and for your butgeted monthly amounts that you need for annual bills? That is a must have so that you can live without credit, and can fund insurances, presents and days out etc from what is in the account

Based on the current SOA, there is no spare money for paying the dmp. 

@niteeyes, have you had a chance to refine your SOA? Have you put the numbers together for saving this £1000?