DMP plan & advice

ColdPizza · 12 October at 8:41PM

I’m think of going between a DMP or DRO.

If I go for DRO, just wondering what kind of repayment I can get agreed.

Debts.

NatWest: 30k current around £22k. Repay £668 pm
Lebdable £5k been repaying £201 since Feb, if interest gets removed it should be currently below £4K. Repay £201 pm
Novuna £5k Repay £150 since Feb
118 £5k £362 p/m since August might be able to get interest removed.

MBMA (credit card) been making minimum payments since July 2023. Balance around £2000
Bank overdraft £2000 minimum payments forever.

income £3000 per month.

£700 received from parents but this is to buy shopping for them, pay for Ubers to take mum to hospital, etc

outgoing £2300 rent £167 council tax , £150 gas & elect, £22 phone bill, £35 internet & TV license. Food around £200 per month. Public Transport £40-60 per month.

My biggest debt is with my current account. So I should open a new one?

My preference for DMP is because o want to still increase my income, and increase my payments if I do. My biggest hope is to remove the interest from the debts, especially the ones that may have been unaffordable. For these I believe I have a good case with 118, Lebdable, maybe Novuna. Not so much NatWest as when they meant me the £30k I was bringing in between 4-7k a month but times changed. Lebdable & 118 saw my account and should have seen that in goings vs outgoings was close equal each month.