DMP - Payment offer refused - What next?

Moustacheman

I have been sorting out repayments to my creditors now for the last 2 months. 3 of the 6 have accepeted my reduced payment offer and 3 of them have refused. What do I do next. I received a letter from one saying that they are passing the debt onto a debt recovery agency. Does this mean that I will owe them the full amount and will not be able to pay them what I can afford? I am quite worried about this.

mitcho_uk

Are you arranging the DMP yourself or through a company such as CCCS or Payplan?

Moustacheman

I am arranging it myself but am getting advide from CCCS.

ms_london

I would just call the creditors in question again and see if you can re-negotiate your repayment - obviously it will still need to be something you can afford!! If you still really cannot afford what they are requesting, call them again, explain this and say that you can either pay them £X per month or nothing at all - it's up to them!!

They probably just want to put the frighteners onto you!!

Well done on arranging this yourself, it doesnt always have to be done by a 3rd party!!

Let us know how you get on.! xx

bonnie_2

dont worry, i have always found debt collectors to be more sympathetic than the banks even stopping interest and charges. this is because they buy the debts for less than they are worth.