Confused over whether to do IVA or DMP
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Good luck Mum2emily - and please don't worry. I wrote to all my creditors once I'd decided on the DMP route to tell them what was happening, and I don't remember receiving a single call. It definitely won't be as bad as you're expecting.
Well done on taking control! xLBM August 2013 - debt: £27,181
May 2017 - debt: £8,208
DFD - December 2018 :j0 -
Thank you, I just hope my creditors are understanding-it seems from the DMP support thread most are so fingers crossed.
You don't have to have understanding creditors, it's not there place to understand your situation or not, they make business decisions, they have procedures to follow for people who can't pay, they will just swing that procedure into action, that's it.
Of course it helps if you write and explain yourself, ask for interest and charges to be stopped etc.
You can't think of your creditors as you would a friend or family member, they are a business, and will make business decisions, but they must treat you fairly.
As I said, it's a well worn path.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 don't have to have understanding creditors, it's not there place to understand your situation or not, they make business decisions, they have procedures to follow for people who can't pay, they will just swing that procedure into action, that's it.
Of course it helps if you write and explain yourself, ask for interest and charges to be stopped etc.
You can't think of your creditors as you would a friend or family member, they are a business, and will make business decisions, but they must treat you fairly.
As I said, it's a well worn path.
Exactly right.
And those who are slow to fall into line, you nag them until they do.0
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