Advice Please

deano010980

Hi guys

just looking for a bit of advice really i've been in a dmp with dfh for 18months now and i've had no problems, i do pay them a fee, so i took it upon myself to contact payplan, they said that i dont have enough debt for payplan to act on my behalf but sent me all the relevant paperwork to go it alone, i've drafted out letters to all my creditors.

The only thing i am worried about now is that a) my creditors dont accept the terms and b) what if they suddenly start adding on interest again.

Your comments would be muchly appreciated

thanks

Dean

poorandindenial

Hi dean

I am not on a DMP so I can't give a concrete answer but I thought I would suggest a couple of things...

1) check out the DMP mutual support thread on this board (http://forums.moneysavingexpert.com/showthread.html?t=977633&highlight=dmp+mutual+support)

2) when you write to them you could make it clear that you are taking over the running of the DMP and that the amount YOU pay each month is staying the same (unless it is changing) but that the company will get a bit more because there are no fees (also if it were me I would make sure that your statement off affairs and the proportions paid to each creditor are clearly set out so that they can see they are getting a fair deal)

3) you can always contact CCCS or another debt charity (http://www.moneysavingexpert.com/loans/debt-help-plan#help) and see if they also think you don't have enough for a dmp. different agencies do seem to sometimes come out with different answers

But as I say I don't have any actual experience, some of the people on the DMP support thread will have been through this and can share their experiences so that you know what you are going to be facing

Deep_In_Debt

Hi
Might be worth contacting the CAB as well as they may be able to negotiate with your creditors also.

There is always the risk that creditors will start charging interest and this can happen whether your are on a dmp with a company or not. There are letters on the National Debtline website that you can use if that does happen.

As poorandindenial says, I found that creditors were more willing to accept my dmp if they knew all the money that I was paying was going to them.

Good luck

angelaf_3

Or you could try CAP