Help!!!!!!

rayday2

It is easy for those who can get rid of there debts in a relatively short period to say things like sky aren't important or days out for your children. But on a DMP then these things do need to be considered.

There is a big DMP support topic which has over 200 members who are all at various stages of a DMP, it does differ the advice from the general advice on this board as we will not have credit to fall back on so a budget is vital and it has to be generous in your favour not a debtors.

I think it was RAS that said CCCS seem to be more generous on the budget side this came up in discussion in the thread as I have mentioned above and it was a general observation.

I do loads of surveys and this is my christmas fund so christmas costs nothing in this house and has not for 4 years now! We get away on weekends away rather than a big holiday, children have school trips life is possible on a DMP and usually better than your standard now so long as you get the budget right in the beginning. I always recommend forget your DFD its not important make sure you budget for everything you can imagine more than budget for that that you can't imagine. I have ISA, shares all sorts now I am on a DMP. WOrse that happens is I never need them and I can do settlement offers further down the line, if an emergency comes up then great there is savings for it.

Good luck and sorry for my ramble!

poppyg_2

I think that's really useful advice rayday and I'm glad it's not just me that thinks that Tasha should make some allowances for things for the kids, the debts are going to take a long time to pay off so it is important to have some sort of life v paying debt off balance I think

I think some of the survey sites and ebay are a god send at times, I've got a few things on ebay at the moment to go towards paying OD off

tasha999

(Thanks to RAS I found my original post!!) So i'll repeat my post...

Thanks everyone for your Advice, its great to know I'm not the only one!!

I've decided, on CCCS's advice, to go for an IVA :undecided. They've got to get back to me about my Northern rock loan, which we've made less than 12 months payments on. I don't really know how it all works but we'll be paying back 42p in the £ .

My biggest worry about IVA was the prospect of remortgaging in the fourth year, although I understand they can only ask for 85%. I thought hard about it and (depending on the rise in house prices) it may be below £15000.

I can't find a thread/forum dedicated to IVA, I'd welcome any advice!

poppyg_2

Hi and welcome back tasha!! I am sure there is a thread (well probably lots more than one), will see if I can find for you x x

tasha999

Its been a busy week, I've taken some of your advice and joined a few of the survey sites, I've already earned £6 worth of points on lightspeed!! and 11000 points on Toluna in less than a week, it beats spending money! lol I've done a carboot and made £40 . I've yet to get a mission on RetailEyes though!

OberonSH

Hah! You got the bug now lady!!

Don't forget to check out the freebie boards for stuff - you occassionally find great little things like tomorrow you can get a free dairy milk from woolies (with a voucher, don't just swan up and demand one lol) I have had loads of bits that make me feel like I'm not counting every penny, and loads of stuff for the kids.

I do loads of points sites - ipoints is quite good - points for surveys etc that can be swappd for loads of stuff, magazine subscriptions, cd and dvds - great for Christmas. PLus mysearchfunds - pays you real money for doing earches. I've got about £20 from 2 months, just maiing sure I search through their box rather than my favourites. If you join, don't forget to check the referrals board to help out a fellow DFW by using their link ;-)

Chin up lady, it won't be forever, and with all this extra cash it'll be over before you know it. Might help teach the kids a few things about money management.

tasha999

Well! The calls started today! We spoke to AA (who were great!) we explained that we were talking to CCCS and would be sending a token payment. But Northern Rock were HORRIBLE! They wanted money now! We get paid on Thursday so explained about CCCS and making a token payment then. She just kept saying that we had to make a payment within 10 days of the missed payment and wasn't prepared to keep it open?? She said that we weren't prepared to make a payment so further action will be taken, She was very rude and kept butting in when my OH explained we had no money until Thursday!! My OH even tried asking if the call was recorded (which I'd read here somewhere) to no avail?

Does anyone have advice on how to deal with these calls? I'm speaking to CCCS tommorow.

tasha999

I spoke to CCCS, the IP thinks that Black Horse (a consoladation loan) will not accept the IVA as we've only had the loan for six months, but as this isn't the largest value it shouldn't matter?!

This makes me worry because we've only had one of the Northern Rock loans since November. The IP thinks they'll want another year adding on to the five years. They're sending the paperwork out today. I am worried because that takes it to 6 years with the prospect of releasing equity after 4 years, (would this be added to my mortgage for the last 10 years of its term?)
We will be paying back £550 a month on the IVA..

Urgent Advice Needed! I don't know what to do for the best?

skaff

Hi Tasha

Firstly i thought i'd give this thread a bump and offer (((hugs))) as it's been a while since one has been posted! You are doing fine girl so don't despair. Remember how you felt when you first started this thread compared to now. It may feel daunting but hope is there now isn't it!?

All i can add to all the great advice you have been given so far is to go back to the driving lessons. I understand you are doing this to so you can earn more money but will that then involve you being away from home more and therefore increase your childcare costs. Add then the increased car running costs and is it worth it? If it is then great but i just wanted to be sure that you have done the maths.

Also at £80/month i am assuming that is 4 lessons a month. Hopefully test date isn't too far away then which could mean £80/month better off! In the mean time have you considered doing what my wife did. She booked her driving lessons for mornings and evenings and used them to get to and from work!! Ususally instructors are happy with that so why not give it a go.

Best of luck with everything but do be firm if you go down the IVA front. There is often room for negotiation so don't agree to readily.

Take care and keep us up to date with how things go.

tasha999

I've just returned the paper work, after days of digging through my cupboards (must sort them out!) I'm waiting to hear from CCCSVA for advice on token payments. They are working out pro rata!?! token payments for my creditors. Not sure if this means we pay the whole surplus? Would this be the usual approach?

I've read of people putting some money away to form a nest egg! Not sure I could do this if we have to pay the lot.

Northern rock have rung a total of 8 times today! I was out for 3, they hung up before talking on 3 and refused to speak to me for the rest (although it is a joint loan!)

edit ~ make that 10 times :mad: :mad: she put the phone down on me!!! :mad: after saying we didn't have a password!! Only for the phone to ring just after.