I dont know whether to go with a dmp or do it on my own

timetobedebtfree

I am doing a self administrated DMP - they way I've worked it out is by having my household expenditure (helped by this website) then my priority debts, which for me is my HP arrangement for my sofa. I think CCJs also count as a priority debt.

I then took the remaining amount, and work out the amounts to each creditor on an percentage basis so for example, if the leftover amount I had for my creditors were £100 and creditor A accounted for 39% of my total debt, I then offered them £39 a month.

I used templates from the National Debtline and so far have payment plans accepted by 6 of my 12 creditors. I like the fact that I can have a bit of control of my payments, and currently looking to settle some of the ones using full and final settlements.

louisa29

thank you. i am still a bit unsure about all this % business when paying off debts.

is there certain % i should be offering the debt companies or just dividing my surplus between them all equally?

this is if i go alone of course.

got my meeting with payplan tomo so will speak to them first

System

I think unless you are completely sure about what you are doing when it comes to negotiating with your creditors, it may bring extra stress and upset that perhaps you could do without at the present time. I would recommend going with Payplan or CCCS and see what they say. Plus Creditors, so I am led to believe prefer to deal with these charities and so they are you next best bet after a self-administered DMP. Good luck and let us know how it goes Len