Desperate, am I in the wrong place?

Forgetmenot68

Thank you Lindens - would you recommend a DMP as opposed to sorting it out yourself? I found a good formula through the National Debtline:

£total amount monthly available to repay debts x £each individual debt divided by the total debt.

The figure gave me a pro-rata monthly payment for each creditor. I'm useless with figures (well, obviously, that's why I'm here!) but the formula seems to work. Our biggest creditor is Virgin (about £17,000) and their monthly figure would be about £48 from our £130. It seems reasonably straightforward, always supposing that they each accept the numbers, but is it better (if they accept you) to get CCCS or Payplan to handle it for you instead? Stress of the calls, letters etc? Or if the lenders accept pro-rata payments do they leave you alone?

xx

Forgetmenot68

GeorgeUK - CCCS worked out with their figures that we didn't have enough for a DMP (about £90). I believe we have more than they think and £130 should be manageable based on our current income and outgoings. I didn't know that about interest stopping faster with one of the charities. Maybe I need to call them and talk it all through?

Forgetmenot68

GeorgeUK wrote: »

Make sure you've left youself enough money too - prices rise and appliances break down even when doing a DMP. Can i ask why you are thinking of doing this yourself rather than through one of the charities? Just curious, although the charities may be able to get interest stopped quicker.

I know... and I failed to fix our utilities, only calling today. Too late!!

seven-day-weekend

Just to say on the job front, I agree with others, take anything to start with, don't worry about it being menial.

I spent several years working as a lollipop lady although I had a degree in Geography and years of office experience. It did several things, - gave me confidence, gave me a small wage, gave me paid time off in the school holidays, but most importantly enabled me to apply for other things on the Council's 'internal only' vacancy list. When I was in a position to do more hours I was then able to get a job with th Council more suited to my qualifications and experience.

Well done on your achievements so far and i wish you luck with a job.

lindens

Forgetmenot68 wrote: »

Thank you Lindens - would you recommend a DMP as opposed to sorting it out yourself? I found a good formula through the National Debtline:

£total amount monthly available to repay debts x £each individual debt divided by the total debt.

The figure gave me a pro-rata monthly payment for each creditor. I'm useless with figures (well, obviously, that's why I'm here!) but the formula seems to work. Our biggest creditor is Virgin (about £17,000) and their monthly figure would be about £48 from our £130. It seems reasonably straightforward, always supposing that they each accept the numbers, but is it better (if they accept you) to get CCCS or Payplan to handle it for you instead? Stress of the calls, letters etc? Or if the lenders accept pro-rata payments do they leave you alone?

xx

I personally chose to go with CCCS because I have absolutely no self-discipline ( well I didnt when I was with OH we were a poor combination I have to say) and knew I wouldnt stick to the plan. When we separated we obviously had to start our own plans and i just wrote to them all myself explaining what had changed and offering an amount in the way I just explained.
I would start off with CCCS doing it for you, they will do the hard work - negotiating with creditors, sending off payments etc leaving you to concentrate on sticking to your budget, making cuts, and getting a job!
After a year they generally suggest you take it on yourselves anyway which you can then do.I do wonder also if creditors take it more seriously when it comes from CCCS but that may just be something in my head lol.

GeorgeUK

I remember you saying that CCCS had said they couldn't do a DMP as you didn't have enough income for your expenditure let alone repayments but disn't know if they'd seen the new improved SOA.

I guess you may at least be able to get advice from them on what to put in the letters if they won't do it for you.

There is a DMP support thread floating around on this board - i've looked in on it a few times and i think there are quite a few people doing their own DMP in it. May be worth posting a few questions on there as well.

Forgetmenot68

Hi George - I've just spoken to the CCCS, to a very nice lady, having re-done our forms partially online and finished them with her on the phone. She was lovely and very supportive about how we've managed to improve our budget, but suggested that we give our creditors the pro-rata payments if the surplus is still there at the end of the month, just before my husband gets paid - and again next month, just to make sure we have factored in enough for living expenses. Then when we have tax credits again/ I have a job, go onto a DMP. She was great about how to deal with the letters and phone calls. She kept saying, "you're in control now, they can't take from you what you haven't got", and very reassuring and encouraging about the fact that we have a couple of positive responses already. There is new advice according to our changed circumstances, plus examples of letters for me online but I haven't logged on to the site yet. I'm happier doing it myself really at this point. Maybe I'll be sorry if they start to get nasty, but for the moment I like the fact that we're in control.

s-d-w - I really admire you, and I will go down that route too because we need the money. Part of my trouble is that I "nearly" got a job similar to what I used to do, a month ago. The fact that I didn't was down to the remote senior director being concerned about my length of time out of the workplace although the director who interviewed me (and who I'd have worked for) wanted me to have the job! So I was almost there... frustrating and it took the wind out of my sails somewhat and I haven't been quite as motivated to find other things since - though I have an interview at an agency tomorrow. Fingers crossed...

FMN xx

Forgetmenot68

lindens, I'm sure you're right - companies would rather deal with other companies I guess, if they think they won't get a different response from you.

xx

seven-day-weekend

Forgetmenot, good luck with your interview tomorrow.

Forgetmenot68

Thank you s-d-w.