How long does it take?

dmb37

I am with Payplan......it's going well (I think!). Five of my creditors have agreed to the DMP I have another Six to go........Does anyone know roughly how long it takes to sort the whole thing out........am I looking at months rather than weeks?

fatbelly

Sometimes creditors never actually agree. At the CAB we instruct the clients to make the payments anyway. The logic is that the only other option for the creditor is to take court action, when the debt would be dealt with in the same way that Payplan/CAB have calculated.

I can't think of any occasion when a creditor has taken action under these circumstances but I would expect the judge not to be impressed if they did. Basically, they'd be wasting court time.

Broken_hearted

Years sometimes.

THE_LONE_RANGER_4

yes basically if the creditor takes there time there problem, offer token payment, make payment untill your situation inproves ,.as such if by time they take you to court your situation inproves make them higher offer of payment , and clear debt reguard andrew

IN_LIKE_EVERYONE_ELSE!

Remember, the creditors are creaking under the strain of bad debt, they may take weeks or even months to respond, some are very efficient and manage to respond in a matter of days. Be patient and rely on this message board to ease some of the burden.

ILEE