what do i put as reason for dmp??

thepinkladez_2

sorry i sound so dumb but what do i put for the reason for dmp?
not sure i can put the following!:

always been a bit cr*p with money,but after being made redundant i couldn't really pay back the debts i had incured from my reckless youth.i did finally find a job to fit in with childcare (but taking huge pay cut!) but didn't alter my spending habits, or take into account all the extra borrowing i did while unemployed, i however just stuck head up my own a*se and hid there until i finally accepted i was in deep doo doo!;)

anyone got a better suggestion??!!

moneydesperate_x

Hi

I put my reason as something along the lines of...
Due to the minimum payments and interest rates going up I have been taking money from one credit company to pay another, to the point where I am now unable to make the minimum payments on all my creditors. I want to stop getting further into debt and start taking a positive step towards paying it off.
But i must admit it did take me two days to come up with that!!!

I would add the being made redundant bit, then maybe a shortened version of the rest?!? I especially like the deep doo doo bit!!!

Good Luck

yellowmonkey

How about something along the lines of " Overcommited on Credit " or "financially overstretched"
I kept mine short and sweet but it still explains the reason.

ym

mummytofour

yellowmonkey wrote: »

How about something along the lines of " Overcommited on Credit " or "financially overstretched"
I kept mine short and sweet but it still explains the reason.

ym

Thats wot i did too!

thepinkladez_2

ok gone with the short and sweet financially overstretched statement if they want to discuss why etc i will then explain redundancy etc

thanks all