Newbie - DMP or DIY?

sammy115

I am new on here, needing advice on my debt. It is all in my name and is around 20K. OH made redundant in April 05 and now money run out. Mortgage paid by protection til April. Have 4 children, from 17 years down to 9 weeks.

I am on full pay from work til end of Jan, then will have to go back. My employers are in financial difficulties and have, in the last two months, changed my pay date and then just paid my salary in two halves. I get tax credits weekly and child benefit in four weekly installments. I can afford to pay £650 per month to my creditors. This covers all minimum payments.

I have just started to miss payments, due to payment date changes etc and wondered if it is best to call a halt now and go on a debt management plan or try to deal with this myself. I may be able to reduce some of my debts by way of cancelling PPI.

Any help gratefully accepted.

VenuS

Hi sammy,

I would def call your creditors and explain the situation. By not calling them would only mean more charges, which you really don't need right now.

Im sure others on here can help your more, but from experience calling your creditors about late payments is a must and the best advice I can give you.

jellycat40

Hi there

Not such a happy time for you at the mo then. Has OH got any interviews or vacancies lined up?

I think that you should speak to someone like Payplan. It will cost you nothing to call and nothing to have their opinion. They are not pushy and if you decide to go with them for DMP they will not charge you any up front fees. They will tell you what to write to your creditors and how to handle them if they are difficult.

The web address is https://www.payplan.com.

Louise