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  • FIRST POST
    • S1984
    • By S1984 2nd Dec 17, 12:39 PM
    • 6Posts
    • 1Thanks
    S1984
    DMP Swings
    • #1
    • 2nd Dec 17, 12:39 PM
    DMP Swings 2nd Dec 17 at 12:39 PM
    Once again due to poor commission based wages I have had to contact stepchange as missed the payment. What an absolute nightmare this is - this is my 2nd missed payment and I am so worried now that i will be removed from the DMP

    I have read so much that people don't start DMPs for a few months and build emergency pots I didn't do this and am so frustrated I didn't think to have an emergency fund so ensure if things came up I would be ok

    What a horrible year its been and now xmas I will be worried throughout
Page 1
    • S1984
    • By S1984 2nd Dec 17, 1:32 PM
    • 6 Posts
    • 1 Thanks
    S1984
    • #2
    • 2nd Dec 17, 1:32 PM
    • #2
    • 2nd Dec 17, 1:32 PM
    On a second question - is it worth cancelling my DMP and going self managed now I have defaulted on various debts and could potentially self managed and build an emergency pot over a couple of months

    Yes the calls and letters would start again but would eliminate some of the issues facing here
    • sourcrates
    • By sourcrates 2nd Dec 17, 3:54 PM
    • 12,700 Posts
    • 12,042 Thanks
    sourcrates
    • #3
    • 2nd Dec 17, 3:54 PM
    • #3
    • 2nd Dec 17, 3:54 PM
    Hi,

    Lets not panic here, the one thing that worry's you is a creditor getting legal with you i take it, well lets try to ease those fears, only on rare occasions do original creditors take legal action, usually the debts just get passed around debt collectors and are then sold on, this can go on for years like this.

    I think you should cease all creditor payments, concentrate on the essential things, such as rent/mortgage/ council tax/ food/utilities etc.

    All unsecured credit are non essential payments.

    Save up a pot of money for emergencies, then start again, either with stepchange or go it alone, your current situation is not working for you is it.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • S1984
    • By S1984 2nd Dec 17, 5:24 PM
    • 6 Posts
    • 1 Thanks
    S1984
    • #4
    • 2nd Dec 17, 5:24 PM
    • #4
    • 2nd Dec 17, 5:24 PM
    Think that is sound advice and no its not - guess this is a hurdle and a learning curve now as to how to enter this a lot more prepared
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