My DMP diary - 2026 (year 1)

SpireCaptain

It's incredible really, it shows how effective their business model is at keeping us in debt once we're past a certain level where the payments are just about affordable. Over £90,000 paid back and yet it's still at that level. I shudder to think just how much money has passed through my accounts. I said to the solicitor the other day I could do with a forensic accountant to go through to see where house deposits, proceeds if sale etc have all disappeared.

ArtyJ931

https://forums.moneysavingexpert.com/discussion/comment/81982365#Comment_81982365

absolutely. Someone on here said that that is literally their business model. To get people to a level of debt they can just about repay but in order to do that they need to continually borrow so they get someone who is paying all that money just endlessly.

That actually really got me out of my “I must just keep trying to pay it all back as soon as possible” mentality.

ArtyJ931

Friday check in - week 6

• Letter this week from one of my affordability complaints saying no. Referred to ombudsman.
• No news from the second affordability complaint.
• Emails from Barclaycard asking for payment
• Regular phone calls from Tesco - blocked
• Daily text messages (roughly) from creation finance asking to pay - each time I block the sender and the next day they message again so must have a variety of phone numbers they text from.

Important bits:

• Emergency fund building nicely
• Pots for irregular payments (insurances, pet costs, healthcare costs, gifts, household repairs) also building up but more gradually.
• Actually made a couple of overpayments to my mortgage - nothing exciting. A £3.75 cashback amount and £3.50 from a vinted sale. I have never done this before so it feels exciting.

Questions I'm still thinking about:

• credit card affordability complaints - I need to check whether this is worth it as I've done the 0% shuffle a lot
• What kind of folder I should have for my letters. lol

Nothing too difficult yet. Nothing to make me too panicky, though each thing (eg affordability complaint having to go to the ombudsman) that does arise still sends me into a panic and I tend to come on here and read some diaries or posts on the main board and that always helps. I'm so grateful.

ArtyJ931

letters this morning from the ombudsman accepting my case and letting me know an investigator will be in touch.

and a refund cheque from very for £8.70 for outstanding amount that has been in my account for months. Now to work out how to deposit a cheque and wait to hear from the ombudsman…

edit: I took a photo of the cheque in my banking app and it was paid in.

I live in the future.

ArtyJ931

Friday check in is now the Thursday check in - week 7 as I don't want to start the weekend stressing about looking in the email account that I have set up for all the debt.

Debt things

• Ombudsman asked me to complete a survey about how they're doing so far
• Budget went skew wiff last weekend and I've had a wobbly week due to lots of things feeling overwhelming at once.
• 6 emails from CC debts advising that 0% offers have been removed/ or asking me to pls pay
• still had 3-4 texts but blocked each time and they seem to have slowed down
• A letter from tesco also asking me to pay

Other money things

• Earned £35 from my self employed side hustle
• I started a 'retirement plan' spreadsheet as I had exhausted twiddling with all my zillion other spreadsheets and wanted a new multi year ridiculously in depth thing to get my teeth into LOL
• Found a lever arch folder and some dividers and have written 'DMP' on the side and filed all letters received so far. It's on the bookshelf.
• Have gone over budget this week due to a visit across the country to visit my family via train which ended up costing more than expected and I realised I have no pot for that so it had to come out of my weekly amount which I need for food, petrol, pet food etc.
• I also found out that I had forgotten to put gas and electric on the meter when I got paid somehow (it's always one of my first jobs so I don't know how that happened).
• I think the above two things got me into a tizz and I then had a bit of a meltdown day yesterday but have relooked at my budgeting spreadsheet and identified gaps and jiggled money around. Still feeling a bit tender and on edge tonight but hoping it will pass soon.

That is hopefully all for another week.

getoutofdebtcard

https://forums.moneysavingexpert.com/discussion/comment/81990629#Comment_81990629

hey twin!

You and me, are literally on the same journey! Although I am in no way at all as organised and well written as you! That’s why I haven’t updated my DMP journey and just wait for yours 😂

I had the same email asking to complete a survey, which I ignored, I’ve got too much on my plate to think about that but I might consider it after their decisions!

God, the emails and texts! Those don’t do as much to me as the letters, since I never know when I get letters and it’s anxiety spiker. I sometimes think to myself, should I pay some, since a few of them have been very gentle emails and notifications but I have to keep reminding myself, it’s for the greater good we stick to not paying! We are not hamsters!

The daily calls are annoying but I have them silenced automatic response from Apple, so it’s ai speaking to ai, as they call using robots and ask you to press a number! It’s so funny, no actual human has called me! Which I think it’s much better this way, since it means we are just a number at the end of the day and we will be processed like any others and aren’t a big fish

Twin, twin, twin! I recently started a side hustle to try and earn some money too!!!! Look at you go, well done on the sale!

The budget thing, I’m there with you, however, I think it would be much easier for your mental health to not start of with so many pots. Give yourself time to see where you money goes and then you have a rough idea of what actual amount you can save and what money you need for the different pots going forwards.

my first payday a few days ago without any payments going to debts, I literally put most of it into only one savings pot. I left in my main balance the expenses that I knew would come out, like rent, bills, etc and gave myself like £50 for whatever. I travel to the office by train, so I know exactly how much I need for that and I have split that into a separate pot for commuting and that only has commuting expenses.

The main savings pot is everything else. I actively remind myself that is not a pot to be touched unless it’s actually needed. So far, I have been very very good. I have had to dip into it already a few times but that’s just because I don’t know my “budget” I need to survive the month yet but I make sure to take the like £50 or something and make sure it is only used for stuff I actually need to buy.

I hope I’m making sense, I am not the best writer!

I just really wanted to say, don’t put too much pressure on yourself with so many pots in your first month! Take it easy and put it in one pot and only spend it if you need to, not to say you can’t use it for things like coffee or a lunch out or your outing. Because that is you living. But obviously don’t be indulging yourself everyday with coffee and lunches!

I’m sorry if that comes off as offensive, a lot of it I’m writing is also based on what I’m trying to do and remind myself too, since I am sucker for a good breakfast wrap or/and coffee when I go to the office! When I wfh, I am genuinely very good and cook for myself! But yeah, try hard to kick the bad habit out!

Sorry for bombarding your page!!!

ArtyJ931

don’t worry about it! I know exactly what you mean. My pots are to gather money for big expected things like my car mot, gifts or insurance annual payments and what not. I also put my monthly day to day budget into a savings pot and pay myself weekly from it.

Other than that I’ve lumped everything else into one savings pot. Which is my emergency/ settlement pot.

oh I also have a house repairs pot because I’m about sick of looking at plaster/brick on the walls and bare not-fancy floors 😂

I’m hoping the affordability complaints and defaults happen quickly because this bit feels constantly anxiety inducing! 😬

honeybee1234

It's really interesting to hear what pots you've decided to use. I'm currently focusing on what I allocate to what pots, do my pots cover everything I need/want them to, which do I prioritise and so on. A house repairs pot sounds like a great idea. I do agree with @getoutofdebtcard about not putting too much pressure on yourself with this, the putting everything else into your savings pot is fine, and I think this kind of thing at first is a work in progress which unfolds over the months, and what will work and what needs to be done becomes gradually apparent!

ArtyJ931

Thursday check in - it is now 8 weeks since I started my self-managed DMP.

Debt things

• Email from one of the loans apologising for the delay in responding to my affordability complaint
• A few other emails asking me to pay please thank you please
• Had 3-4 letters from various debtors asking if I'm ok hun
• That's about it.

Other money things

• Two fledgling clients in my side hustle (fancy way of saying second job?) cancelled this week for very different reasons so that's died a temporary death at the moment unfortunately. It was very time consuming and my full time job is very full on and draining so it was a relief and a disappointment simultaneously.
• I had a £3.22 payout from top cash back ~swit swoo
• Managed to get my bum into gear and list a few bits on vinted, not sold yet.
• Budgeting going well and on course.
• I worked out that if my affordability complaints are upheld the interest repayment would wipe off two large loans which cost around £550 a month and I could then possibly afford to pay off the rest of the debts as normal without a DMP if I manage to get another client or two on the second job (self employed) and this will all just be a blip. So that's something to consider if and when the possibility arises rather than get my hopes up thinking about it now.
• Savings pots are building up nicely and will cover upcoming costs.

That's about it for this week.

edit: sold one of the Vinted things for £20 🎉

flamingo22

Hi, I've just read your diary and it really resonates with me. I currently have about £49000 worth of debt, down from £55000, but I'm struggling every month, feel guilty when I can't afford to take the kids out, it's soul destroying and I am seriously considering a self managed DMP. I'm currently paying out £1829 towards debts every month with only £1200 coming off, the rest being interest 😡

So I understand the basics, cancelling your direct debits etc, I have one secured loan so that'll obviously have to stay…the money that you save will go towards debt settlements in the future and I'm assuming these will be for a lot less than they're worth now?

I struggle with anxiety and I'm not sure how I'd cope with the letters, calls etc. Do you feel that you've made the right choice? Nobody knows about my debts, so it's so hard having nobody to talk to about them.

I sent off affordability complaints last week, so hopefully something will come from them. I'm just sick of existing and not actually living.