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  • FIRST POST
    • DMP_Tiger
    • By DMP_Tiger 30th May 18, 12:18 PM
    • 176Posts
    • 526Thanks
    DMP_Tiger
    Tiger's DMP Journey
    • #1
    • 30th May 18, 12:18 PM
    Tiger's DMP Journey 30th May 18 at 12:18 PM
    Ok here goes with my diary:

    I am in debt to the tune of 34,000
    I know why - because my wife and I have spent more than our incomings for the whole of the almost 26 years that we have been married. We have consolidated numerous times over the years and then got very excited about empty credit cards. This has led to further consolidations and so on and so forth.....

    We were on top of things 3 years ago and the debt was less than 20k and going down nicely but then I got made redundant and had to take a salary cut. the debt has risen to it's current level since then.

    Well enough is enough. We haven't missed a payment to our 5 creditors but only because when we run out of money we have the credit cards. So last week I called Stepchange and will soon be beginning a Debt Management Plan.

    Our finances are joint - we have no money of our own. Marriage is a partnership, my wife has been a stay at home mum as we believed that this would be best for our children so it would be unfair of me to say that my salary is mine. The debts are all in my name so the DMP is mine only but my wife is fully on board with everything.

    So far I have sent letters/secure messages to all of our creditors but haven't yet had any replies (but I only sent them yesterday). I have agreed with Stepchange 5 months of token payments so that I can build up an emergency fund.

    I have cancelled all DD's so nobody will receive May's payment

    I am slightly worried but not as worried as I was a week ago when I was looking at our ever increasing debt and lack of spare money to have a life.

    To be continued.......
Page 4
    • Robin09
    • By Robin09 17th Aug 18, 8:28 PM
    • 141 Posts
    • 671 Thanks
    Robin09
    How frustrating, that's a big chunk of money to be added on hope you get the default asap

    Hope you have a nice time away.
    • DMP_Tiger
    • By DMP_Tiger 18th Aug 18, 10:57 AM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Hope you have a nice time away.
    Originally posted by Robin09
    Thank you

    We normally overspend massively when we go away but we can't this time because the credit cards don't work
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • DMP_Tiger
    • By DMP_Tiger 27th Aug 18, 10:57 AM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Back from holiday, had a great time and for the first time ever only spent the money that I took with me

    Payday was on Friday and another 1 will go to each creditor tomorrow so that will be 5 off my debt total

    Secured debt will also go out so that will reduce by about 350

    Need to think of something cheap to do today, there are a couple of local fetes/fun dog shows so might do that possibly....
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • DMP_Tiger
    • By DMP_Tiger 29th Aug 18, 9:42 AM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger

    Need to think of something cheap to do today, there are a couple of local fetes/fun dog shows so might do that possibly....
    Originally posted by DMP_Tiger
    Went shopping...

    Wasn't a cheap day....

    Then we spent 20 on a takeaway.....

    Oh dear me....
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • DMP_Tiger
    • By DMP_Tiger 3rd Sep 18, 9:32 AM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Well the weather looked good for the weekend so we decided to go camping. Had a great time, weather was fantastic! 2 massive fried breakfasts and 2 massive BBQ's so need to eat healthily this week. I love cooking outside though and it's great fun cooking fried breakfast on the gas camping cooker in the early morning sunshine.

    Didn't spend loads apart from site fees, food, steam train ride and a cream tea

    New month so signature updated. Secured debt has gone under 70k so pleased with that

    Unsecured debt has gone up because Aqua are still adding interest . Once my DMP is running properly from the end of this month, I will try and get that stopped. Nobody else is adding interest, just Aqua.

    Hope everyone has a good week
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • Red Athena
    • By Red Athena 7th Sep 18, 10:57 AM
    • 50 Posts
    • 72 Thanks
    Red Athena
    Hope you get the interest stopped soon! All of my creditors have stopped interest for 30 or 60 days aside from M&S. They wrote to me saying they understood and would give me time to arrange things... but will still charge interest and late fees. Thanks
    DMP Begins October 2018
    My diary : Looking Forward
    • DMP_Tiger
    • By DMP_Tiger 7th Sep 18, 12:35 PM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Yeah it's irritating but hopefully they'll default me soon.
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • DMP_Tiger
    • By DMP_Tiger 8th Sep 18, 4:29 PM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Happy birthday to me....
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • Robin09
    • By Robin09 8th Sep 18, 6:48 PM
    • 141 Posts
    • 671 Thanks
    Robin09
    Big birthday wishes to you, hope you have had a nice day
    • WelshKitty85
    • By WelshKitty85 8th Sep 18, 6:55 PM
    • 863 Posts
    • 7,132 Thanks
    WelshKitty85
    Happy birthday
    Enough is enough...
    29,603 (22/7/18) 22,692.24
    • DMP_Tiger
    • By DMP_Tiger 11th Sep 18, 11:39 AM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Thanks Robin and Kitty

    Had a good birthday but money has gone a bit haywire. The problem is that there isn't enough money in the savings pots because I've not been putting money into them for very long.

    The camping trip was paid for retrospectively with my birthday money from my parents - that's fine.

    Birthday meal out was 77, there was just enough in the Birthday/Christmas pot but now it's empty. It's my son's birthday in a couple of weeks and my wife's birthday at the beginning of October. Plus, it will soon be Christmas.....I have some Amazon vouchers from surveys which will pretty much cover Christmas presents so that's in the back of my mind and not an immediate concern.

    Last year everything would have just gone on the credit card and it wouldn't have been a problem. Well it would have been a problem eventually but it wouldn't have concerned me for now....

    Now the summer is almost over, I think we will spend less money generally and so hopefully will be able to save more and by next summer we will have enough in the pots for days out/camping/birthdays, etc so our monthly household money won't be short.

    Household budgeting and not relying on credit cards is easy in principle, but having a cheap takeaway instead of a 77 meal out is a difficult concept to master.......must try harder!!
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • Purplemumof2
    • By Purplemumof2 11th Sep 18, 12:32 PM
    • 6,559 Posts
    • 24,749 Thanks
    Purplemumof2
    Belated Happy Birthday, I hope you got suitably spoilt.

    Don't beat yourself up about a takeaway, you are allowed to enjoy yourself and not be a slave to the debt.

    Boo to Aqua adding on the interest and fees, hopefully that will stop soon.

    Have subscribed and will be following xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: 5660.00 Lloyds: 9878.75 BC: GONE Cap One: GONE
    OD 0/500 LC 371.25/1500 Washer PAID
    POAMAYC 2018 #041 PD 7219.86/7000
    Savings for Christmas 385.36/400
    20p Savers 2018 2 Savers 2018 50p Savers 2018 SPC 12 2019 #003
    • DMP_Tiger
    • By DMP_Tiger 11th Sep 18, 1:27 PM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Thanks for subscribing PMO2, yes I am allowed to enjoy myself and it's more enjoyable coming out of budget rather than going onto the CC. I am going to be short at the end of the month though and will have to borrow some out of the Emergency fund. Not a major problem but I've already borrowed 300 so my 1000 EF is soon going to be going to be closer to 600.

    Need to pay some back into the EF, will work on that from payday!
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • DMP_Tiger
    • By DMP_Tiger 12th Sep 18, 12:08 PM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Received a letter from Moorcroft (DCA). They are now managing my Aqua credit card debt.
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • DMP_Tiger
    • By DMP_Tiger 17th Sep 18, 10:04 AM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Hope everyone had a good weekend. DD needed clothes so had to borrow out of EF. Will be able to replace it on payday so that should work out ok.

    Message from Moorcroft asking me to call them. I called them. They were lovely, I had to send them my I & E details so they can make sure that I can afford my Aqua DMP repayment.

    Also had a statement from Aqua, and NO INTEREST has been added this month - hooray!!!

    My spreadsheet is telling me that I am going to run out of money next week so may have to borrow more from EF Hopefully I won't have any emergencies....
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • DMP_Tiger
    • By DMP_Tiger 27th Sep 18, 2:03 PM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Payday today - hooray!!

    Very expensive September as it was a five week month and included August Bank Holiday weekend so the emergency fund has shrunk considerably.

    Have topped the EF up today so hopefully won't have to touch it this month.....
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • DMP_Tiger
    • By DMP_Tiger 28th Sep 18, 9:26 AM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    First DMP payments gone out today. Only paying 82 per month at the moment but that's all I can afford. Secured loan also gone out so have updated signature

    The total figure is big but it's lovely to see the figure going down after it's been steadily rising from 0 to almost 105,000 over the last 25 years

    And it's gone down into the next thousand - hooray!!!!

    Also, I have my first default - from Barclaycard - Hooray again!!
    Last edited by DMP_Tiger; 28-09-2018 at 9:32 AM.
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • Summer12
    • By Summer12 13th Oct 18, 7:21 PM
    • 97 Posts
    • 58 Thanks
    Summer12
    Hi

    Found you! You mentioned on another thread you were having problems with Barclays Bank ignoring letters just as I was. I wrote and complained and a month later had all interest, fees and charges refunded back to the date I first wrote to them (5 months previous) and a cheque to apologise! Give it a go if you are still having problems.
    • DMP_Tiger
    • By DMP_Tiger 18th Oct 18, 2:50 PM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Hi

    Found you! You mentioned on another thread you were having problems with Barclays Bank ignoring letters just as I was. I wrote and complained and a month later had all interest, fees and charges refunded back to the date I first wrote to them (5 months previous) and a cheque to apologise! Give it a go if you are still having problems.
    Originally posted by Summer12
    Yep, here I am! I'm not normally far away although I haven't been on here for a few days.

    As far as I can tell from my credit file and banking app on my phone, Barclays haven't added on any interest or charges. The balance is still exactly the same as it was back in May. I'd been sending them 1 per month and then the first proper (but very low) DMP payment at the end of September but that hasn't come off the balance so not sure what they're doing.....

    All I receive is a letter each month telling me how many payments I've missed.
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
    • DMP_Tiger
    • By DMP_Tiger 18th Oct 18, 2:59 PM
    • 176 Posts
    • 526 Thanks
    DMP_Tiger
    Emergency fund has gone down from 1000 to 200 since the beginning of August. We seem to be using it like an overdraft when we run out of money in the current account......need to build it up again, hopefully we won't have any emergencies.....

    We have had a lot of extra expense, not really emergencies but there's nowhere for the money to come from other than the emergency fund. Maybe I should rename it "savings", then I wouldn't worry so much about spending it.....or perhaps "spendings" would be better
    August 2018: Secured Debt 70,003 Unsecured Debt (DMP) 34,657 Total 104,660 DFD: March 2031
    December 2018: Secured Debt 68,621 Unsecured Debt (DMP) 34,575 Total 103,196 DFD: March 2031
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