Feels like im going under!

NiteEyez1980

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

Absolutely, therebisna savings account attached to my new bank account. 

NiteEyez1980

kimwp said:

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?

Hi ya, 

Yes I have 

I'm going to share the SOA on here asap

sammyjammy

Have you decided whether you are going DIY or through Stepchange et al?  It sounds bizarre but once you've got those defaults and you can set things up you'll feel that relief all over again.

NiteEyez1980

Going to do myself

NiteEyez1980

Hi guys, 

OK.... 

Letters from HSBC, MBNA, and tesco. All late payment charges. Nothing from the rest yet. 

Be lying if I said it wasn't abit of a "wobbler".

Sounds daft but not been in this position before.

Little, reassurance peeps, as despite the umpteenth amount of replies here and sound logic it still gave a "what have I done" moment. 

Assume I just ignore until the "we've defaulted your account" comes in and then is when I return correspondence?

sammyjammy

NiteEyez1980 said:

Hi guys, 

OK.... 

Letters from HSBC, MBNA, and tesco. All late payment charges. Nothing from the rest yet. 

Be lying if I said it wasn't abit of a "wobbler".

Sounds daft but not been in this position before.

Little, reassurance peeps, as despite the umpteenth amount of replies here and sound logic it still gave a "what have I done" moment. 

Assume I just ignore until the "we've defaulted your account" comes in and then is when I return correspondence?

Spot on, grit your teeth and ignore.  Its a short term pain.

elsien

I’m not qualified to comment on the DMP logistics, but I’ve followed your journey from the start so I’m just popping in in cheerleader mode to say you’ve got this far, onwards and upwards.  

kimwp

NiteEyez1980 said:

Hi guys, 

OK.... 

Letters from HSBC, MBNA, and tesco. All late payment charges. Nothing from the rest yet. 

Be lying if I said it wasn't abit of a "wobbler".

Sounds daft but not been in this position before.

Little, reassurance peeps, as despite the umpteenth amount of replies here and sound logic it still gave a "what have I done" moment. 

Assume I just ignore until the "we've defaulted your account" comes in and then is when I return correspondence?

What you've done is stop yourself spiraling into more debt, because the debt payments meant you had more going out than coming in, even without interest. 

What you need to do now is get a good understanding of your essential outgoings as you are not going to have credit to fall back on. You've said a few things which ring alarm bells that you don't yet have the understanding of your SOA needed to stay within your budget. 

Makingabobor2

Its no good just ignoring the letters unless you are actually working out you SOA or I&E or whatever you want to call it. But you must be working out exactly what you are going to be able to off the creditors.  Think we would all be interested to see how you are doing with that, so you can get a few opinions on if its going in the right direction.

NiteEyez1980

Hi guys 

I'm working it out to the letter. 

I wish I could do a screen grab of my spreadsheet as I've literally worked out every thing being spent.

Even things like putting extra covers on bed to avoid switching heating on, family friend donated their air fryer (they've upgraded to a Ninja) so less oven use etc.

As soon as I've retyped the soa I'll post it on here. If not I'll just retype it all.

With regards to car boot, trousered £120.

As it stands barring a last tweak I think there will be about £200 left for creditors a month.

Sounds really low doesn't it.