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  • FIRST POST
    elsie52
    Old geezers and gal's close to retirement on dmp's.!!
    • #1
    • 7th Mar 10, 2:28 PM
    Old geezers and gal's close to retirement on dmp's.!! 7th Mar 10 at 2:28 PM
    I have recently posted about my own DMP and the fact that we don't have very long before we retire to pay it back. Therefore, it brings with it, its own set of problems. Planning Ahead suggested that there should be a thread dedicated to older DFW's so here we go. You don't have to be on a DMP, just hell bent on busting the debt. If anyone would like to join this thread we can all perhaps give each other encouragement along the way.

    1. How long have you got to go on your DMP, or before you are debt-free?

    2. How long have you got until you retire.?

    3..What do you plan to do when you retire?


    My OH and I have 5 years until we retire, we are almost 60 now and we have around 23/29 months to go on our DMP, which means that we will only have about 2 1/2 years to do some frantic saving for our retirement, assuming that we finish work completely.

    We started off owing 74k, that was 2 years ago, and since then we have paid back 40k, we have a little bit of savings which we are also trying to add to, and at the same time pay our debts off and also have a life. It's difficult knowing that our time is limited for earning a decent salary, but we still have to live.

    So come on all you oldies, and lets show these "young 'un's" that there is life after our late forties, fifties and sixties.
    If you would like to be a member let me know, it may be a very small and select group.!


    1. Elsie52 2. Pure Dead Dopey 3.Churchrat. 4. The wad. 5. Dorisday 6. Cuddlymarm

    7. dmb 8. nanna58 9. agatha-crispie 10. Nanny25 11. Poorbuthappy 55 12. Joenobody

    13. mrsinvisible 14. debt4evernot 15. Chasingmytail 16. laineygirl 17. Sashanut

    18. BooBoo14 19. Ninnins

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    Last edited by elsie52; 12-04-2010 at 7:48 PM. Reason: added members numbers


    June 2010 - 11/56 lbs Weight to lose before May 2011.

Page 1
  • pure dead dopey
    • #2
    • 7th Mar 10, 3:57 PM
    • #2
    • 7th Mar 10, 3:57 PM
    I have recently posted about my own DMP and the fact that we don't have very long before we retire to pay it back. Therefore, it brings with it, its own set of problems. If anyone would like to join this thread we can all perhaps give each other encouragement along the way.

    1. How long have you got to go on your DMP ?

    2. How long have you got until you retire.?

    3....What do you plan to do when you retire?


    My OH and I have 5 years until we retire, we are almost 60 now and we have around 23/29 months to go on our DMP, which means that we will only have about 2 1/2 years to do some frantic saving for our retirement, assuming that we finish work completely.

    We started off owing 74k, that was 2 years ago, and since then we have paid back 40k, we have a little bit of savings which we are also trying to add to, and at the same time pay our debts off and also have a life. It's difficult knowing that our time is limited for earning a decent salary, but we still have to live.

    So come on all you oldies, and lets show these "young 'un's" that there is life after our late forties, fifties and sixties.
    If you would like to be a member let me know, it may be a very small and select group.!
    Originally posted by elsie52
    Can I please join Elsie?

    OH and I ony had a late flickering on 27th Dec 2009, DMP started on 1st Feb, long long way to go, I am 54, he's my toy boy so a bit younger at 53, got at least 8 years on DMP unless something happens to let us pay off a bit earlier. Like you trying to pay off debt and save at same time, not easy. Why did it take so long for us to realise what diddies we were???? Just have to get on with it, possibility of payout from bad accident at end of this year, so that may help us out.....fingers and toes crossed.

    Thanks for making me see it is possible.

    xxPDD
    More than Two Years in

    Doing it the Niddy way

  • elsie52
    • #3
    • 7th Mar 10, 4:19 PM
    • #3
    • 7th Mar 10, 4:19 PM
    Welcome aboard PDD.!!

    Glad to have your company and you are now the proud owner to be member number 2. Like you we had our LBM fairly late in life, I am sure that we had little flickerings earlier than that, but we seem to think that we had more time left before retirement than we really had. Head in sand springs to mind.!! I must say that the last 2 years have gone really quickly so hopefully your 8 years or so will do the same.
    I think the main thing I have learned is the difference between need and want.!! We don't go without anything we need, but we don't have what we want.!! But it won't be forever.
    We will beat this debt and after our retirement we intend to buy a motor home and travel abroad. Bring it on.!!
    Last edited by elsie52; 07-03-2010 at 4:23 PM. Reason: need glasses on again.!


    June 2010 - 11/56 lbs Weight to lose before May 2011.

  • elsie52
    • #4
    • 7th Mar 10, 4:20 PM
    • #4
    • 7th Mar 10, 4:20 PM
    1. Elsie52

    2. Pure dead dopey.


    June 2010 - 11/56 lbs Weight to lose before May 2011.

  • pure dead dopey
    • #5
    • 7th Mar 10, 4:32 PM
    • #5
    • 7th Mar 10, 4:32 PM
    Just thee and me then!!!

    Everybody else must be really young??
    More than Two Years in

    Doing it the Niddy way

  • elsie52
    • #6
    • 7th Mar 10, 4:39 PM
    • #6
    • 7th Mar 10, 4:39 PM
    Perhaps so. Unless they are all in denial.!!

    I am sure that I can't possibly be 58. My OH is 60 this year and we officially retire within a week of each other in 2015. I sound like my parents when I say that I don't know where all the years have gone.!! I certainly don't feel my age, and some say I don't look it (they usually are a bit shortsighted though ! ) We will have been married 40 years in May 2011 so we are hoping to have a special holiday. We are determined to do that because it will never come around again. So my savings are on elastic..........they have to stretch for so many things.

    How are you finding being on a DMP, are you with CCCS or Payplan?


    June 2010 - 11/56 lbs Weight to lose before May 2011.

  • pure dead dopey
    • #7
    • 7th Mar 10, 4:50 PM
    • #7
    • 7th Mar 10, 4:50 PM
    Hi Elsie

    We are with CCCS and they have been great so far. To be honest it hasn't been so bad, most of our creditors accepted quite quickly (probably realised this was their last chance to get the money) the usual suspects have been a bit of a nuisance Hbos and Lloyds but I phoned and pointed out a few truths and they capitulated and reduced/cancelled interest. It makes my blood boil to see the threads on here where banks haven't cancelled, its just bad business, where do they think the money will ever come from? If you didn't need the interest cancelled, you wouldn't be on a DMP! So rant over, around 20 out of our 22 creditors have accepted and are behaving, Citi and being awkward but just sent everything off to them again and Cap One are playing the "its not your signature" game with the OH. CCCS have sent everything off to them again to try to reset the process, they were as good as gold with mine so it makes no sense???? On the whole its OK, we did have money left in the bank at the end of last month and that is probably a first for quite a few years, but now I've had my LBM, I just want it fixed, like this minute, I can't believe we were so dammed DOPEY!
    More than Two Years in

    Doing it the Niddy way

  • churchrat
    • #8
    • 7th Mar 10, 5:16 PM
    • #8
    • 7th Mar 10, 5:16 PM
    Hello

    I'm glad this has started!! Can I have a number please????

    My oh is nearly 56 and I am still very young at 49yrs and 363 days, so loads of time until I'm 50.

    We had our lbm quite a while ago, 7+yrs, but owed about 61k. I didn't work for around 3 yrs cos our dd became ill when she was about 12 yrs old. I gave up work overnight and we were only hanging on by our finger tips anyway. When I did go back it was only part time on min wages because I couldn't leave her for very long.

    She is in her 20s now, and I am grateful every day that I still have her ( well, nearly everyday!!), but we lived off credit for such a long time that I thought we would just drown. But we got out eventually and hope to be df this yr.

    Like a lot of people with debt at this age, we also have a child at university, one just finished and our dd doing hers part time at a local uni-- so adult children still fairly dependaent, and no savings for retirement. Hey ho, I'll be working until I win the lottery!

    yes--the lottery IS my retirement plan!!
  • elsie52
    • #9
    • 7th Mar 10, 5:21 PM
    • #9
    • 7th Mar 10, 5:21 PM
    We are with Payplan and we havn't had any problems. We have 10 creditors and only 6 have cancelled or reduced the interest. Lloyds , Clydesdale, Barclaycard and Marbles are the ones who have not/will not. We have had several conversations with them, but to no avail. It's a great feeling when you manage to get to the end of the month and have not gone overdrawn or had to borrow from something else. We have survived 2 christmas's and have bought everything CASH.!!! It was unheard of before, we would buy something on the cards, promising ourselves that we would pay it back.!!! Heard this somewhere before have you?

    If its any consolation, you are not the only Dopey ones on this thread.!!! Count me in on that one.

    Right off to make tea, will be back later.


    June 2010 - 11/56 lbs Weight to lose before May 2011.

  • pure dead dopey
    Glad you found us Churchrat, adult children, yes they do seem to cost a lot of money, I have one still at uni (guess who's paying the fees??) and one who works in the Arts and spends a fair amount of time "resting" sosomeone has to keep them in the style to which they have become accustomed...............
    More than Two Years in

    Doing it the Niddy way

  • churchrat
    hi pure

    how long have you been doing the debt busting stuff? Do the grown up kids help out?

    Mine are (sometimes) quite good, esp the one who is still away. He has a fair bit less to spend than many of his friends and seems to manage ok. he has got a little pt job, but so many of the jobs that student used to take seem to have either disappeared or are taken by people who wouldn't normaly need them.

    Do you mind me asking if you have a lot to pay back? I think that we were lucky in that we started this before the credit crunch hit, the banks etc seem to be much harder to please than 4 yrs ago.

    Have I seen your "resting" child on tv?????
  • elsie52
    Hi Churchrat.

    Glad you are here and your number is 3.

    If the membership continues at this rate we will have to limit numbers.!!! We don't want to be overcrowded.!!

    Can I ask you Churchrat and also you PDD, do your family know of your financial situation.? Our family don't know and perhaps never will, Why?.....embarrassment and I think ashamed, so we keep it quiet.

    How have you managed for 7 years Churchrat, it must have got you down occasionally.?


    June 2010 - 11/56 lbs Weight to lose before May 2011.

  • elsie52
    By the way Churchrat, I may be old but I can still count......so are we having a party on Tuesday when you will be 50


    June 2010 - 11/56 lbs Weight to lose before May 2011.

  • pure dead dopey
    My LBM was very recent so haven' been at it for very long, but have around 8 years to go (God help us). Children do try to help, when resting child is not resting, she helps as much as poss but she has to have a life too. and no you won't have seen her on TV, she is abehindthe scenes arty farty buffer, none of the glamour and all of the resting I'm afraid.

    Elsie, no one knows we're struggling and they won't, BIL wanted OH to go cycling in the Ural mountains had to pop that one on the head very fast. Don't have any intentions of telling them either, too ashamed of the mess we've spent ourselves into.
    More than Two Years in

    Doing it the Niddy way

  • churchrat
    hi

    7 yrs has felt like a lifetime. I don't mean that its has been hell and goes on and on, I mean that it has become a way of life and I really don't think about it anymore. I always shop in the cheapest places, but that doesn't mean I buy rubbish. I have learnt to shop well ( I think there should be classes in this!) and use charity shops all the time. There are so many good reasons for this, but its getting harder cos so many people are doing it now.

    We did tell people at the beginnign of all of this, but cos dd was ill I don't think we really had time to worry about that side of it. The problem has been that it has gone on for so long that other people have forgotten, and I really don't want to go thro telling them all again. I think that telling family/friends can be the hardest part for some people, not the shame, just that not being able to help out and be the "grownup".


    And are you sure it 50!!! I thought I had years to go!!!!
  • elsie52
    PDD

    Perhaps eventually we will be able to hold our heads high and be proud of the way we got ourselves out of the mess, by paying it all back......I can't wait for the day when I can say " We don't owe a penny to anyone " I'm going to start practicing it now.

    we don't owe a penny to anyone
    we don't owe a penny to anyone

    Elsie trails off into the distance still muttering.!!!


    June 2010 - 11/56 lbs Weight to lose before May 2011.

  • elsie52
    Churchrat,
    I know what you mean about shopping well......I do this without thinking now.
    When I think back pre-LBM is makes me shudder to think how much money we have probably wasted. I had clothing in the wardrobe which still had labels on, and would probably never have worn...they have since been e-bayed.!! I now only buy what I really need, I would like to spend more on myself, but can't bring myself to do it yet. I buy clothes for my grandchildren, but not as much as before, although I do knit for them, which helps out, and they last longer. I cook mostly from scratch, which I have done most of my married life....Fast food outlets were not somewhere we visited when our kids were small in the 70's.

    Did you still manage a holiday during the past 7 years?


    June 2010 - 11/56 lbs Weight to lose before May 2011.

    • thewad
    • By thewad 7th Mar 10, 6:55 PM
    • 281 Posts
    • 220 Thanks
    thewad
    Suppose I qualify too at 52.
    LBM NEW YEARS DAY this year.
    Got round to CCCS early February and hope to be starting DMP April.
    I owe quite a lot as well but my DFD is 8.5 years.
    10 creditors and 2 of these are Capital 1 and Citi.
    Your right about the signature with C1 all the others never mention it.
  • pure dead dopey
    well ladies, I'm presuming you are ladies?

    Since you are very well versed in shopping and not spending a fortune way, you could maybe give some advice to us newbies on Nataz's thread for 1st Feb DMPers on how to actually place the trolley in Aldi, we're finding it quite difficult, every time I do it, the woman wheechs it off me and turns it the opposite way from where I had it, she knocked two choccy bunnies (good value 89P) into several million bits the other week cos she was a bit cross when I was slow......is there a knack or do you learn at special classes?
    More than Two Years in

    Doing it the Niddy way

  • pure dead dopey
    welcome the Wad, if you hang around Elsie will be along and give you a number. We are getting quite popular here.
    More than Two Years in

    Doing it the Niddy way

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