DMP Mutual Support Thread (Part 4)

Ossireo

GH

Have you remembered to split the general outgoings in half?

If you are going to do a SOA excluding the hubby you need to 'share' the general outgoings. For example if your electric is £50 then your share would be £25. Similar the Food needs to be for you as a single person. Its the best way to fully exclude him from your plan to clear your debts (if that makes sense) and for people to get a full view of your 'share'

Also get your Water and CT spread over 12 months not 10 .. every little helps

newlywed

Hi gilligan - do you have a bank account that is unrelated from your creditors? If not - get one set up right away and get any benefits/wages transferred over to that "safe" account. That way banks can't take any of your income to "offset" your debts with them

I've found dealing with CCCS really good. The phone calls stopped as soon as CCCS wrote to everyone with the DMP proposals (after I'd sent them the agreement) - almost instantly.

It is such a relief just knowing that someone else is there to help without judging you.

Go fill in the form, read the advice from them and then open a safe bank account.

Well done for recognising the need for some help. I struggled on for another 8 months thinking I could sort it out myself (and really seriously couldn't because I was in waaaaayyyyy to deep)

newlywed

Ossireo wrote: »

Have you remembered to split the general outgoings in half?

If you are going to do a SOA excluding the hubby you need to 'share' the general outgoings. For example if your electric is £50 then your share would be £25. Similar the Food needs to be for you as a single person. Its the best way to fully exclude him from your plan to clear your debts (if that makes sense) and for people to get a full view of your 'share'

That's what I did - put down half shares of all the outgoings. But OH does pay half the costs (just he pays all the rent and council tax, while I pay all the food, electric - but it works out about half and half )

If your OH doesn't pay some of these then don't put half shares down if it's just going to over-stretch you and make the DMP more stressful for you.

GhostHunter_3

Ok well OH doesnt pay half of the bills I pay them all. But he does donate his Working Tax Credits to me from which I pay some of the bills.

So what do I do? Do I base my sole income on the Incapacty Benefit of £300 or do I show an income of IB £300 + his Tax Credits 317.52 and then list the payments?

Still no idea on food or whether to include rent or not. Am I getting my point of view confused here or are they more likely to accept if they see I have less to offer them as it goes on priority debts first?

What happens if I show I have nothing to give and still owed priority debts?

Sorry just sat down with National Debtline's SOA and a blank copy I am going to start completing in a minute so getting anxious again.

Please stay with me folks I need the encouragement and support all scary stuff :eek:

Would it help if I posted what NDL have done?

Thanks

newlywed

Hi GH,

I'm not sure what debtors would do if your income and expenditure showed you had nothing to give. It might make you in a better position to bargain with them to pay a low monthly amount, but not sure if you offered nothing

OH had a debt and at one point showed his income/expenditure as about £20 left and offered £60 a month (which he had really ) on a debt and they accepted

If you use and can always rely on the money from your OH then if you list that as well, it may show you with a little to spare to offer for your DMP?

GhostHunter_3

Hi Newlywed

I am starting to understand now sorry its taken some time

Ok if I add hubbys tax credits and just show I have an income of Benefit alone (Incapacity Benefit) wont they wonder how I am entitled to Tax Credits and that will open a whole new can of worms?



Thanks as allways

newlywed

GhostHunter wrote: »

Ok if I add hubbys tax credits and just show I have an income of Benefit alone (Incapacity Benefit) wont they wonder how I am entitled to Tax Credits and that will open a whole new can of worms?

Hmmm if you call it Tax Credits it probably would do. But what if you called it OH's contribution towards bills - or something like that???

Or the other way round then is to work out what bills you actually pay out of that TC money and miss those out of your expenditure saying OH pays them - technically he does doesn't he??

Or work your figures to show half contributions on some things where the TC money covers the other half of it and then not put that TC money down?

Ossireo

hmmm wonder if you could call it something like rental income or Board & Lodge income

GhostHunter_3

Hi

Ok so so far I have figured it like this:

Income

Tax Credit 317.52

IB Benefit 300.00

Total income 617.52

Expenditure


Rent 83.00
Council Tax 64.00
Water rates 38.15
Contents Ins 20.12
Gas 66.50
Electric 66.50
TV License 11.95
Phone and mobile 31.85
other
Broadband 14.63
Sky 31.00
Pet Insurance 25.49

Total expenditure - £405.19

Priority debts

Gas 151.50 (cant say how much extra payment to clear is)
Electric 151.50 (cant say how much extra payment clear is)

Total priority debts

£303.

Creditor Debts

Aqua CC 1,147.
Cap 1 CC 802.
Nationwide CC 1,603.
Skycard CC 625.
HFC loan 255.
HFC loan 635.
HFC loan 84.
BPF loan 167.
Lloyds TSB loan 4,900.

Ttal creditor debts - £10,218

Thats without food bills.

617.52
405.19 -
______
212.33
______

£212.33 left from which I have to take food, priority debt repayments and creditors out of.

ALTERNATIVELY

£300.00
£405.19 -
___________
105.19 minus
___________

Still left to find priority debt repayments, and FOOD!


As I said their going to want to know where the additional £317.52 comes from, and e-on will want their repayments which will chop my IB down from £300 to .

All this will be changing soon I suspect as our Tax Credits will change I am expecting (may have to repay as went onto IB lasat August just updated them with review even tho I told them back in November they were unaware :mad: )and also my IB will be cut in November if they say I am fit to return to work. At this rate I will be mentally exhausted by then!

What happens if income does get even lower???

What does one do then? :eek:


Going to have a word with hubby about him paying dog insurance and possibly Lloyds loan (46.64 a month) as thats joint loan.

Bit reluctant to call Tax credits anything else as knowing my bad luck I will either get found out or the income will change and cant be explained. Better to be honest I say.

misspixierocktastic

Phew, well we got there in the end
I decided to e-mail cccs today regarding a credit card thats mine but has my mums name on the papwerwork (mine on the credit card) so confusing annnyway i've been speaking to a lovely lady who said that because i was the second name taken out on the card it's not my debt so they can't include it in the DMP however what they will do is remove the £80 i had allocated as paying to the creditor and they have put it in my budget as family loan (just like someone else mentioned earlier)

So although it's not included in the DMP i still have money left to pay it albeit outside of my DMP, i think i might give them a call actually and see if i can negotiate some kind of a better repayment plan because i cant afford what they are asking right now, Its a nightmare though because they wont speak to me they only speak to my mum even though my names on the card aaaarrrggghhh

Anyway sorry for the rant,Now at least with the dmp budget replanned we can get going again

Thanks for everyones advice