DMP Mutual Support Thread - Part 7

the_tooth_fairy · 7 August 2010 at 6:19PM

sunfleur wrote: »

Welcome to this great support thread Tweetiepickle. I haven't been here that long but love it all the same.

Well done on getting things started and I'm glad that you are sleeping a lot better too. No-one on here will bat an eye at the amount of debt anyone is in - the point is we all want to do something about it and get out of it - including you of course.

I'm sorry I can't answer the question about your Dad's bank account as I'm not sure of the mechanics of being just a signatory or if you have to be a full joint owner of the account to do so. Someone with the knowledge should be along to help you.

Do keep posting and asking questions though.

That was really good advice, Sunfleur, welcome, Tweetiepickle, (love the name!) Sorry I can't answer your question either, but the cavalry will be along shortly!! I read your post with interest, perhaps our subtitle should be 'Shouldawouldacoulda' for this forum!
However if it makes any difference, I spent a lot more time and effort actually getting myself in this mess in the first place, than I have getting out, by that I mean the times, shifting money I didn't have, to the worst accounts. It was such a relief when all the pressure of that was taken away by Payplan.
Ok, it's no picnic, living on a lot less, but I would never go back to all that stress ever again. As Sunfleur says, keep posting and let us know how you are getting on.

ttfx

tweetiepickle · 7 August 2010 at 7:22PM

:AThanks everyone for such a lovely welcome............without waxing lyrical its a bit like coming in from the freezing cold to a blazing log fire and a bowl of homemade soup.
You are so right Tooth Fairy you just don’t realise at the time that you are non stop thinking about money, how to move it, which card to take a cash advance on etc etc, it is so nice to able to have room in my brain for other thoughts. Coulda/woulda/shoulda now thats a thought....if only I hadn’t spent so much on nothing.....I could have now really had something.
I have been scared for a long time, but now instead of scared defeated “oh what the hell am I going to do” its now scared but fighting “I will get out of this”.
Cheers Sunfleur for your kind words and Loubylou2 I know what you mean, my dad would be horrified, to him £100 is a bad debt and I could never let him know, I do hope the signatory thing is not affected.:(
I have learnt so much by reading this forum. I could have easily been pushed into an Iva first without considering a DMP if I hadn’t seen this forum.:eek:
I know money will be tight but the relief indeed is enormous,
For me its only once I did my SOA I realised that I never had the sort of money I thought I had. Perhaps its not the DMP budget thats makes money feel short its the fact its now actual “proper available income” instead of available “the skys the limit”. credit
A saying I always related to “A credit limit is a limit not a target”
Good luck and bigs hugs to everyone:beer:
Xx
TP

BrianTheSnail_2 · 7 August 2010 at 7:25PM

Hi all.
Just getting ready to take the plunge...
I would like to ask for some advice.
I have spoken with CSSS and they suggest a DMP which is great - I thought the only option was BR.

My question.
I have never missed any payment on CC or loans although it will happen this month as I move over to DMP.
CC`s and banks are not aware of any problems. (In fact have just today received another CC which I applied for 2 weeks ago. Thank goodness I came to reason and cut it up! 2000 would have helped for a couple of months... )

My problem is I have lived off bank cards and CC`s for the past 2 years - always had a way to get by - but just want to stop playing this silly game now.

Right now I am thinking practically ... I get paid at the end of the month but have no cash until then - My normal action would be to use the CC for supermarket shopping and I have CC`s with credit but if I use that e.g. for food shopping will that be frowned upon.. went to Tesco on Saturday then sent a letter Monday saying sorry - couldn`t afford to pay!
I am half tempted to stock up ! I am also tempted to go out and buy myself something nice - just so I can say -"look this is what I got for £35k!"
Seriously, should I spend what I need - say £60 to last us (me and daughter) till pay day or not risk upsetting the CC people?

Anyone have any experience or views?
Brian

Loubylou2 · 7 August 2010 at 7:42PM

It is actually liberating kowing that we can only spend what we've got. We have 3 boys who are teenagers and without going into too many details with them, they are being very good and realise that we can no longer just eat out and have treats like we did and despite the fear that still weighs heavily, I think we are actually in control for the first time in years.
Brian as you can tell this is all new to us too so i'm sure you'll get better advice BUT you do have to eat till pay day.
We did have a couple of weeks in a similar situation. We were only just under our OD limit so spent to that and that was the amount we put on our SOA to Payplan. BTW it was only used for absolute essentials.
I am a little worried with car tax due soon and further ahead Christmas as our budeting has only just started but we are hopeful in the long run it will work ok.

Still hoping somebody could help out with advice about the signatory issue.

Thanks everyone.:)

tweetiepickle · 7 August 2010 at 7:46PM

BrianTheSnail wrote: »

Hi all.
Just getting ready to take the plunge...
I would like to ask for some advice.
I have spoken with CSSS and they suggest a DMP which is great - I thought the only option was BR.

My question.
I have never missed any payment on CC or loans although it will happen this month as I move over to DMP.
CC`s and banks are not aware of any problems. (In fact have just today received another CC which I applied for 2 weeks ago. Thank goodness I came to reason and cut it up! 2000 would have helped for a couple of months... )

My problem is I have lived off bank cards and CC`s for the past 2 years - always had a way to get by - but just want to stop playing this silly game now.

Right now I am thinking practically ... I get paid at the end of the month but have no cash until then - My normal action would be to use the CC for supermarket shopping and I have CC`s with credit but if I use that e.g. for food shopping will that be frowned upon.. went to Tesco on Saturday then sent a letter Monday saying sorry - couldn`t afford to pay!
I am half tempted to stock up ! I am also tempted to go out and buy myself something nice - just so I can say -"look this is what I got for £35k!"
Seriously, should I spend what I need - say £60 to last us (me and daughter) till pay day or not risk upsetting the CC people?

Anyone have any experience or views?
Brian

Hi Brian I am new as well and in a similar position as in I had not missed a payment until now when I realised I could not carry on shuffling money around.
Would it be a good idea to work out how much (once the DMP starts) you will have left at this time of the month and just spend that. The buying something nice lol was what got me in this mess in the first place but I know what you mean, but my advice is try to resist.
I am sure if any questions are asked if you can show that you used the credit to live on as opposed to anything else then it will be easier to explain and they will see you are serious in wanting to be debtfree:).
Good Luck
xxxx
TP

BrianTheSnail_2 · 7 August 2010 at 8:18PM

Loubylou2 wrote: »

Still hoping somebody could help out with advice about the signatory issue.

Thanks everyone.:)

Check this with the bank - perhaps you could do it anonymously in a different branch or by phone. The key thing you want to find out is if a signatury is jointly liable. if you are liable in any way remove your name - (if the account is in credit a letter from yourself saying you want to be removed from the account should be sufficient).

Why not just set up internet access for your mum and you can pay bills that way - and just use the debit card:cool: no one ever checks signatures now there is chip and pin.

BrianTheSnail_2 · 7 August 2010 at 8:30PM

I am sure if any questions are asked if you can show that you used the credit to live on as opposed to anything else then it will be easier to explain and they will see you are serious in wanting to be debtfree:).
Good Luck
xxxx
TP

Thanks TP. I hope I don`t have to explain away too much!

tweetiepickle · 7 August 2010 at 8:31PM

Loubylou2 wrote: »

Still hoping somebody could help out with advice about the signatory issue.

Thanks everyone.:)

Me too fingers crossed:)

Loubylou2 know its easier to say than but I refuse to worry about Christmas as I am done with worrying. Have worried for a very long time it seems.
I want to enjoy life again and that means trying to look always at the positive.
Think of Christmas this way.....you may have to ebay stuff, make stuff etc but at least you wont have the horrendous CC bill dropping through the door in January...it will be an honest Christmas:rotfl:

Found this re car tax hope it helps

However, you can spread the cost of the vehicle tax by buying Post Office savings stamps that cost £5 each. Collected on a Post Office savings stamp collector card, you can use the stamps as full or part payment for your vehicle tax. These stamps can only be used at a Post Office branch that issues tax discs.

xxx
TP

tweetiepickle · 7 August 2010 at 8:41PM

BrianTheSnail wrote: »

Thanks TP. I hope I don`t have to explain away too much!

Am sure you wont:), I was just erring on the side of caution as I am not sure of how everything works yet.

bomechina · 7 August 2010 at 9:41PM

:hello: Just thought I should introduce myself as I may be asking you lovely people for advice over the next few years.
I have been making token payments to all my creditors and have just worked out my figures to set up my own DMP.
The letters are all printed, awaiting stamps (NSD today so will get them tomorrow).
Working through the figures, if every creditor freezes interest, its gonna take me 13 years to clear my debts :eek:.
I owe a total of £8400, so I was shocked at the length of time its going to take.
I don't have a lot of money to throw at these debts atm, but as soon as I have, I will.
The main reason for my post, I suppose, is just to share with people who understand how soul destroying this can feel

.
I feel like I'm going thru so many emotions in a short space of time but, the main feeling is one of dread.
Sorry if I sound like a whinge, I'm just having a bad day, and needed to let it out.

DMP Mutual Support Thread - Part 7

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free