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Hi Guys
what a great site top info here I though I'd post my story here and i've a question about my first 6 month review of my self managed dmp.
Like most we've enjoyed the credit the banks willingly threw at us through the 00's and taking mad advise tried the balance transfer shuffle thing which never quite worked. Now as everything has got more expensive I've come up short with my repayments. In May '11 i grasped the nettle and set my own dmp up with a little advise from cccs and CAG forum. Its been a struggle to make ends meet even with the DMP.
Here's the gory details:
Creditors
Tesco Loan 1305 agreed DMP amount £27 up for review Jan
First Direct loan and OD on arrangement £15,100 just agreed £150PCM @ 1.5%Apr for 12mnths
Nationwide owed £2,328 paying £34.19 (accepted DMP offer) up for review in Jan
Santander owe £3,136 token £5 sent as totally uncooperative complaints in process passed to Moorcroft.
M&S £2,618 paying £10 up for review in Jan
Halifax £8650 passed to moorcroft still paying Halifax £5
Just reviewing my IE sheets and had a look at the trigger figures and I'm selling my self short a bit i think, its been a real struggle these last few months. My wife isn't happy that all her wages disappear into the pot so to speak. So we've separated bank accounts and she is contributing a pro-rata amount to the bills. All except the FD OD\Loan is in just my name as the main wage earner. my wife only works part time so earns much less than me so thats fair, Although its now leaving less for the dmp.
How will the banks react to my new substantially reduced offers? I've nothing I can try for UE with so I'm stuck with paying back at a rate that I can afford. Any suggestion on how to proceed. I couldn't care less about my CRA record thats stuffed now. I'm Just trying and make the payments manageable so we can at least have enough to go to work and feed ourselves.
Thanks
Ian
what a great site top info here I though I'd post my story here and i've a question about my first 6 month review of my self managed dmp.
Like most we've enjoyed the credit the banks willingly threw at us through the 00's and taking mad advise tried the balance transfer shuffle thing which never quite worked. Now as everything has got more expensive I've come up short with my repayments. In May '11 i grasped the nettle and set my own dmp up with a little advise from cccs and CAG forum. Its been a struggle to make ends meet even with the DMP.
Here's the gory details:
Creditors
Tesco Loan 1305 agreed DMP amount £27 up for review Jan
First Direct loan and OD on arrangement £15,100 just agreed £150PCM @ 1.5%Apr for 12mnths
Nationwide owed £2,328 paying £34.19 (accepted DMP offer) up for review in Jan
Santander owe £3,136 token £5 sent as totally uncooperative complaints in process passed to Moorcroft.
M&S £2,618 paying £10 up for review in Jan
Halifax £8650 passed to moorcroft still paying Halifax £5
Just reviewing my IE sheets and had a look at the trigger figures and I'm selling my self short a bit i think, its been a real struggle these last few months. My wife isn't happy that all her wages disappear into the pot so to speak. So we've separated bank accounts and she is contributing a pro-rata amount to the bills. All except the FD OD\Loan is in just my name as the main wage earner. my wife only works part time so earns much less than me so thats fair, Although its now leaving less for the dmp.
How will the banks react to my new substantially reduced offers? I've nothing I can try for UE with so I'm stuck with paying back at a rate that I can afford. Any suggestion on how to proceed. I couldn't care less about my CRA record thats stuffed now. I'm Just trying and make the payments manageable so we can at least have enough to go to work and feed ourselves.
Thanks
Ian
has been a great help and we've put together an different solution. While she's training I've asked all my creditors to take £5 per month each so each are paid the same. 
but have passed me to a DCA which is for the best apparently.
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