We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Coming off a DMP to repair credit file
alfieg40
Posts: 39 Forumite
Hi Guys and Gals
I was just looking for some advice on whether it is worth me coming off a DMP to pay my creditors direct and paying them more money each month, but only if they remove the default's that they registered against me when i went on DMP. I may be getting a new job soon that will allow me to pay considerably more to my creditors, in most cases it will be twice the amount that they would want as a minimum payment under the Credit Agreement. Do you think that they would even entertain the idea of removing negatives to get all of their money back, rather than me asking for a reduced Full and Final in the near future.
Also, not all of my creditors defaulted me when i went on to DMP, is there not some kind of rule that is in place on how and when they can default, ie after a certain amount of missed payments. Three of my creditors accepted my reduced payment for the last 2 1/2 years and then out of the blue they suddenly defaulted me, even though i had not missed a payment. This annoys me a bit, as the defaults are all scattered, and so will come off at different times. I would have rather they all defaulted me 2 1/2 years ago when i went onto DMP as i would only have 3 1/2 years til they all come off. Now i am in the situation that two creditors defaulted me on Oct'08. It's very annoying.
Many thanks for any help you can provide.
I was just looking for some advice on whether it is worth me coming off a DMP to pay my creditors direct and paying them more money each month, but only if they remove the default's that they registered against me when i went on DMP. I may be getting a new job soon that will allow me to pay considerably more to my creditors, in most cases it will be twice the amount that they would want as a minimum payment under the Credit Agreement. Do you think that they would even entertain the idea of removing negatives to get all of their money back, rather than me asking for a reduced Full and Final in the near future.
Also, not all of my creditors defaulted me when i went on to DMP, is there not some kind of rule that is in place on how and when they can default, ie after a certain amount of missed payments. Three of my creditors accepted my reduced payment for the last 2 1/2 years and then out of the blue they suddenly defaulted me, even though i had not missed a payment. This annoys me a bit, as the defaults are all scattered, and so will come off at different times. I would have rather they all defaulted me 2 1/2 years ago when i went onto DMP as i would only have 3 1/2 years til they all come off. Now i am in the situation that two creditors defaulted me on Oct'08. It's very annoying.
Many thanks for any help you can provide.
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards