Newbie

fenola

Hello,

I am a newbie to the forum and looking for a wee bit of advice. I have decided to try and get my finances under control and am totally shocked to see how far into debt I've slipped Anyway, I've looked into DMPs but have decided to give it a go myself rather than pay someone else. I have prepared my income/expenditure and offers (based on debt/total debt x disposable income) to my creditors, where can I get a good template letter to send them?

Also, I have a couple of those no-credit-check loans (Harvey and Thompson Kwikloan, Cheque Centre) on there and some payday advance (wageday advance and poundstillpayday) people, has anyone had any experience dealing with them? Are they open to payment plans?

Many thanks,
F

GeorgeUK

Not too sure about DMP's. If you post up your SOA, others will be able to advise how much you should have to live off and how much to split between your creditors.
http://www.makesenseofcards.com/soacalc.html

For a template letter, i think this is the right one, but hopefully someone else will be able to advise. The link to the national debtline site may have other letters more suitable.
http://forums.moneysavingexpert.com/showthread.html?p=10232585#post10232585

yellowmonkey

There are a lot who do a DMP on their own. You said you dont want to pay anyone else to manage it.There are free DMP companys out there. 2 are

Payplan http://payplan.com/

CCCS http://www.cccs.co.uk/

Good luck

ym

peb

Just to add to yellowmonkey, there is a long haul supporters DMP thread which includes people with "arranged" DMPs and those who have set up and manage their own. May be worth having a read through to get some ideas.

fenola

Thanks guys. Sorry to sound ignorant but what SOA??:o

SmellyOldSock

Hi and welcome

SOA is statement of affairs, it shows all your incomings and out goings. Post this and people will give you guidance.

best wishes
Charlotte

GeorgeUK

SOA - statement of affairs. List of your income, expenditure and debts.

The link i provided has the majority of items that will be on most people's list and does the sums for you. You could paste the results from the MSE format to the board if you want people to have a look for any savings or advice.