Dmp outside of uk
qwertyjjj
Posts: 150 Forumite
I have about £21k of debt in the UK.
I would like to setup a DMP as I'm having trouble paying and can only pay around half of what it needed.
One loan is at 10.4% , the other is a credit card at 19%
Is payplan any good for this? I've read a lot of bad reviews on other sites.
Secondly, is it possible to setup a DMP when not resident in the uk.?
I understand bankruptcy is not an option after leaving the UK.
I would like to setup a DMP as I'm having trouble paying and can only pay around half of what it needed.
One loan is at 10.4% , the other is a credit card at 19%
Is payplan any good for this? I've read a lot of bad reviews on other sites.
Secondly, is it possible to setup a DMP when not resident in the uk.?
I understand bankruptcy is not an option after leaving the UK.
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Comments
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any thoughts on PayPlan?
Am I allowed to set up a DMP on old UK loans when I reside outside of the UK?0 -
Hi,
That's something you will have to ask them, you can always set it up yourself if not.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Does it need to be a signed contract and how do you write off some of the debt?0
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Does it need to be a signed contract and how do you write off some of the debt?
Signed contract ?????
No one will just write off a debt because you ask them.
That only happens with insolvency such as a DRO, IVA, or Bankrupcy.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates wrote: »Signed contract ?????
No one will just write off a debt because you ask them.
That only happens with insolvency such as a DRO, IVA, or Bankrupcy.
I thought you could do it with a DMA also?
What I'd like them to do is reduce the APR to something lower or just agree to pay back capital bit not interest and make the monthly payment lower.
From what I read that could be done with a DMA. If not, how can I get an IVA?0 -
You mean a DMP (debt management plan) you can ask creditors to stop interest and charges, but they don't have too.
However most will when asked, sometimes you must be persistent.
You should seek advice from one of the debt charities or Natiobal Debtline.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
sourcrates wrote: »You mean a DMP (debt management plan) you can ask creditors to stop interest and charges, but they don't have too.
However most will when asked, sometimes you must be persistent.
You should seek advice from one of the debt charities or Natiobal Debtline.
That's my main question - are the charities any good?
I read a lot of reviews saying companies like payplan miss payments and people ended up in more debt than before with payplan taking management fees from the creditors.
If I agree a DMP, then that constitutes admitting the debt. Does that prevent bankruptcy or statute barred debts in the future in the extreme case I need to go bankrupt?0 -
All options will remain open to you.
Payplan don't charge fees for arranging a debt management plan, there service is free.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
What is the rule on not being able to go bankrupt 3 years after leaving the UK?
What do people do in those cases?0 -
What is the rule on not being able to go bankrupt 3 years after leaving the UK?
What do people do in those cases?
You would need specialist advice on that :
https://www.nationaldebtline.org/EW/information/abroad/Pages/living-outside-the-uk.aspxI’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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