DMP pro's and con's????

sparklygal123

YM-thank you for your kind words!thats fantastic giving up the cigs and booze!I also smoke and in time i would like to give up,but at the mo its not an option as am soooooo stressed!!!!

yellowmonkey

One step at a time Sparkly

themagics

The DMP process does seem a little daunting at the time of assessment, being allowed £20 per month for a haircut etc. We were living well below the stated minimum government guidelines (ie spending 30 per week on food shopping, we have 2 children 8yrs and 5yrs).

We entered into a plan with Payplan, all the creditors with the exception of Black Horse and GE Money (both car payments).

We got back a decent piece of normal life knowing that creditors were being paid (all be it a fraction of the original monthly payments) moreover we can now guarantee we can make the mortgage payment, council tax and utility bills.

Gemmzie

I found the best thing about being DFW is the power that a budget gives you. Really.

It's so empowering to know you're always getting the best deal, not wasting any money and live within a budget.

Nearly everyone needs a budget (how many millionaire lottery winners end up skint eh!) except maybe Bill Gates etc.!

Also, in a DMP, you're paying as much as you can afford, that's all the courts would ever ask so few creditors pursue it. Well done for facing up to it and not consolidating!

(Parents with a huge mortgage, £30k secured loan and £30k unsecured loans all from consolidation!!!!! < doesn't work)