paying individual creditors

cho8925873

i am in process of setting up dmp when payments are sorted out can you with any money you manage to save by cutting down etc just target one debt and pay this first to reduce amount of people you owe money to in addition to paying dmp to i know this sounds daft as debt would reduce the same however you pay i think mentally seeing creditors get less would make me feel like i was getting somewhere

TotallyBrassic

The advice I received on this matter from cccs was that all debts included in dmp cannot then be dealt with seperately!
As far as I am aware, cccs will happily take any lump sum you manage to save and pay it to your creditors as extra.
The problem you have if you start paying seperate creditors off is that they then assume you have extra funds available (they can look on your credit file) and can then refuse your current payment plan.
So better to save lump sums then pay it to whoever is running your dmp, and ask them to pay it to your creditors for you.
Hope this helps,
xx