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DMP - Help!!!
youngfamily03
Posts: 5 Forumite
Hello, I hope somebody can help!
My partner and I are considering getting a DMP to get rid of all our debts (totaling just under £15,000) But in our list they sent us of what they will allow usto pay out each month it doesn't allow for savings for Christmas and Birthdays.
Does anyone know whether you are allowed to have money put aside for these?
Thank you!
My partner and I are considering getting a DMP to get rid of all our debts (totaling just under £15,000) But in our list they sent us of what they will allow usto pay out each month it doesn't allow for savings for Christmas and Birthdays.
Does anyone know whether you are allowed to have money put aside for these?
Thank you!
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Comments
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Firstly, welcome to DFW.
Who are you using to proceed with the DMP? I hope you are using CCCS, a debt charity or Payplan? They will not charge you anything for the set up for the DMP."Wisdom doesn't automatically come with old age. Nothing does, except wrinkles. It's true, some wines improve with age. But only if the grapes were good in the first place." — Abigail Van Buren0 -
youngfamily03 wrote: »My partner and I are considering getting a DMP to get rid of all our debts (totaling just under £15,000) But in our list they sent us of what they will allow usto pay out each month it doesn't allow for savings for Christmas and Birthdays.
Does anyone know whether you are allowed to have money put aside for these?
Thank you!
You will not be getting rid of these debts, the interest could be frozen, and you will enter into a debt managment plan, I just wanted to make that clear incase you have been to fee paying company who have "promised" you the earth. Debt repayment is a long hard slogg, but very rewarding
"Wisdom doesn't automatically come with old age. Nothing does, except wrinkles. It's true, some wines improve with age. But only if the grapes were good in the first place." — Abigail Van Buren0 -
Hello, thank you.
Yes, were with CCCS we were told they were one of the best as they don't charge.
We are a family of 2 adults and 2 children (4yrs and 18months) and don't really know how DMP's work around Christmas and Birthdays as there doesn't seem to be any kind of allowance for those.0 -
Hi there,
We do allow for Birthday's and Christmas within our budgets. We include them under "Sundries & Emergencies"
Hope this helps
CCCSI am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.0 -
well in that box we have £20 but we thought that litterally was for emergencies eg. fridge or cooker needs fixing.
What is the normal amount then for sundries/emergencies for a family of 4? Even if you only spend £80 per birthday and Christmas for the 4 of us, that comes to £640 divided by 12 months is £53 per month.
Is that seen as an unreasonable amount?0 -
Also on our SOA it is £260 for our household groceries a month. Is this normal for a family of 4 as we will struggle with that.0
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Your food and housekeeping does seem very low for a family of 4. Did you use Debt Remedy to input the figures or did you have a telephone appointment?
I would suggest that if you feel the figures don't really represent your situation, you should get back in contact with us to review the expenditure to ensure it's a sustainable budget for you.
Regards, CCCSI am a Debt Counsellor that works for the CCCS and have specific permission from Martin, to post on these boards to try and help those in debt. Read more information on the CCCS and what it does in the Debt Problems: What to do and where to get help article.
CCCS is a registered charity, and there is no charge whatsoever for any of the services we provide to our clients. We take great pride in offering first class help and advice, but we only offer this where we have been able to fully explore and understand your circumstances with you. We want to help you understand these choices and their possible implications but not make them for you.0 -
Does anybody here have a normal SOA for a family of 2 adults and 2 children? I don't know if were having too little and if we've forgotten anything.
I could post what I have on ours and perhaps someone wouldn't mind looking at it and advising whether we should put more for somethings.
I know cccs have maximum amounts for familys food shopping and things. Does anyone know what these are?0 -
I recommend you follow CCCS_Matthew's advice, the CCCS will listen to you if you phone them up and discuss the budget they've advised, if you ask it might be possible to tweak it a little.0
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hi
here is the guidance for people going BK. You might find the figures roughly right but if fuel costs are actually higher, use the actual figures.
http://homepage.ntlworld.com/stuart.blackstock/funding/weekly_expenditure_guidance_figures.htmIf you've have not made a mistake, you've made nothing0
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