DMP Mutual Support Thread (Part 4)

yellowmonkey

Thanks newlywed.

Will try to catch up on your thread later. Did not think of CCCS. Lots to mull over

TTFN

yellowmonkey

Thanks Whoopie

Jvic28

Hi All,

I don't think I can squeeze anything more out of this but any hints would be gratefully appreciated. The reason I ask is I want to start putting some money into savings as a safety net.


Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1060
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1060

Monthly Expense Details
Mortgage................................ 487.62
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 50
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 80
Clothing................................ 10
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 56
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 13
Pet insurance/vet bills................. 0
Buildings insurance..................... 13
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 80
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 844.62

Assets
Cash.................................... 0
House value (Gross)..................... 83250
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 83250

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 79204....(487.62)...7.45
Total secured debts........... 79204.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
CCCS...........................10083.4...103.......0
Dads Capital One...............1825.86...54.78.....34.27
Total unsecured debts..........11909.26..157.78....-

Monthly Budget Summary
Total monthly income.................... 1,060
Expenses (including secured debts)....... 844.62
Available for debt repayments........... 215.38
Monthly UNsecured debt repayments....... 157.78
Surplus(deficit if negative)............ 57.6

Personal Balance Sheet Summary
Total assets (things you own)........... 83,250
Total Secured debt...................... -79,204
Total Unsecured debt.................... -11,909.26
Net Assets.............................. -7,863.26


Thanks

at_my_wittsend

Thanks Rayday.

Had a letter today, Next, saying thank you for my communication regarding a dispute on your account, your query is receiving attention. You will be contacted again as soon as the matter has been fully investigated. Thank you for your patience in this matter. - must be what I sent in July as still not done August token payments. Am confused as have not disputed anything, just sent token payment in July along with CCCS letter and I know CCCS have written to them??? Is this code for we know you can't pay what we want and are looking into it? It came from their arrears department?

Must admit, toyed with the letter for an hour before opening it as no idea who it was from but new roughly would be a creditor, then was brave and opened one corner and saw the logo, felt sick, put it down again for a bit picked it up tore a little more and read first words of thank you and then grabbed it out of the envelope. Might sound daft, but really has me in knots the post at the moment. The whole thought of it makes me feel so ill. Am slack and no August payments should have gone off by now but I don't have much money left this month to make even token ones which sounds a bit hopeless but has been very expensive month and going to get dearer.

Anyway, proud of myself for taking it out of envelope, though doubt I would have done this had it not of started thank you.

Thanks for giving me a number am going to be here for ever and a day, years and donkey years. :-( On a low start DMP. Though I thought you could do low start until finished in years to come but reading on here you cant, that scares me as I have no choice, I know for a fact my circumstances are never going to get better pay wise, in the long run only worse. Hmmm.

Hello to all other newbies and oldies and thanks to you all for your posts, you keep me going. :-)

Ax

rayday2

at_my_wittsend

The point is you did open the letter and it was just words. If ever you are worried by what you read just post here what they say. A lot of language used in these letters is chosen very carefully to allow you to read into things words like, could, may etc etc

Just take your journey one step at a time at your pace.

Angel_Cake_3

at_my_wittsend,

this is the hardest bit, at the begining! I know what you mean about the letters. I used to worry myself silly all morning at work about what was waiting for me and would drive home at lunchtime just to check.

Most of these letter are automated and you will start to see on this thread, we have all at some point got exactly the same letters.I have been with PP since May and have made 2 payments to date, and (without tempting fate) the calls and letters have died down.
The odd one still happens, but once again, they are pretty standard and most peeps on this thread have experienced them and will always give advice.

The majority of my creditors have now accepted and that is only after the first/second payment!

You are not alone there is always somebody here to help. I will be a long termer too, but you know what, I look at now and think how on earth did I cope before, truth is, I did not!!! You are 100% doing the right thing!

Be strong and remember, as Ray Day says, they are only words. Easy to say I know, and I regulary post when these 'words' upset me, but you will become stronger each day, so one step at a time.:A
xxx

Lodge

Hi Everyone.

I'm about six months into my DMP (managed by myself).

I have debts of around 30K (Yikes!!) and I'm paying my 8 Creditors between £50 & £75 each per month.

Is it possible to negotiate LOWER monthly payments for a while (as it is becoming a struggle at the moment with all the fuel and utility bill increases) OR will they pass my debt onto a DCA if they think I can not afford to pay?

Jvic28

Lodge wrote: »

Hi Everyone.

I'm about six months into my DMP (managed by myself).

I have debts of around 30K (Yikes!!) and I'm paying my 8 Creditors between £50 & £75 each per month.

Is it possible to negotiate LOWER monthly payments for a while (as it is becoming a struggle at the moment with all the fuel and utility bill increases) OR will they pass my debt onto a DCA if they think I can not afford to pay?

Hi,

I don't know how much debt you have but I wish I could get my payments down to £50 a month which seems very low. It may well be possible to negotiate lower payments. It's worth a go. At the end of the day they can't have what you haven't got. Also, I would worry about the debt being passed to a DCA. They tend to agree to payment plans much easier than the original creditor anyway.

rayday2

If they are passed to a DCA that is a good thing, I wish Lloyds would pass mine over. So don't worry about that one and they would be a lot more likely to agree to smaller payments.

I run my own DMP, do you use the National Debtline for the budget calculator? If you do then just show your bills etc as going up, if you don't use that and make sure you are a tad over generous on things as you should be putting money away on savings not just managing just in case you need urgent repairs etc. In the template letter offering payments just mention you have had to do a review as you are struggling to live day to day due to the esculating cost of living.

WhoopieDoodle

Hello Lodge. If you have higher bills and the payments on your DMP need to be reduced, then there isn't a lot the creditors can do about this.

I would send them a new I&E sheet, showing the higher bills so they can see exactly what the situation is.

I wouldn't worry about debts being passed to DCA. You will negotiate with them in exactly the same way. And as Jvic says, they can't have what you haven't got!