DMP or not DMP that is the question?

lozie_2

Hi All,
I have been on the forum for about a week now and have had excellent advice from you all :T

My thread "SOA ouch!!!!" has my SOA on.

With all the advice thant I have received, I have made quite a lot of changes and have managed to save £££££££££££££:j

I have changed my bank account in time for salary to be moved by the end of the month so start march with ALL my money to play with......

my total unsecured debt is £10,000

£2800 overdraft
£2321 student loan been paying £25
£3375 3 doorstep loans been paying £320 (highest APR is £185%)
£1253 credit cards £0
£248 car insurance £0

Pay plan advised me not to include student loan in DMP due to high interest



we are also considering selling house and renting as we are paying

mortgage £1011 (includes £200 arrears, will take 18mths to clear) (£114K)
secured loan £307 (£20K)

house on a 28 day suspended order

house valued between £130k

my questions are this.......

would it be better if i can negotiate lower payments myself or go through DMP with Payplan?

will the abbey be difficult to negotiate with, especially as we have left them with the OD and charges for this month which are approx £250?

Loz

lozie_2

shameless bump

can anyone advise?

boredofbeingathome

Perhaps you should look at everything available and then make a decision. Have you looked at the cccs debt remedy at all?
Talked to an advisor?
There is a thread at the top of the forum, perhaps pose the question there, make sure whatever you do that it is an informed decision.

lozie_2

I have a phone appointment with Payplan tomorrow to provide them with all the debts etc
I have completed the debt remedy and SOA

I think I prob will go with a DMP as i think it will be much safer for me...lol.....

so bad with organisation..... that's why i'm in the mess i'm in now ......lol

This time last week was in a mess and sooooooo unhappy......

applied for £1500 loan turned down and forwaded to "moneyworries"

if it wasn't for this forum i may well have signed up to them and paid them £250 fee.

so i can't thank everyone on here enough for all their advice and support.

loz

LeeSouthEast

I can't offer you any specific advice on your situation, but best of luck !

lozie_2

Thanks LeeSouthEast

Deep_In_Debt

All I can say is do not go with a fee paying company. They are just out to line their pockets out of your debt.

CCCS, Payplan or CAB are the way to go and creditors are more likely to accept their proposals as they know that ALL the money is going to pay their debts...am surprised the FEE charging companies are still in business!

Good luck.