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Should I or shouldn't I cancel it?
YamahaR6
Posts: 113 Forumite
I've just drafted a letter to the company that currently adminsters my DMP asking them to close the account. The way this company works is you pay them an amount each month, half they take to pay crediters, about £20 is taken for their fees and the rest goes into a 'savings account' which is used to make !!!!!! when it reaches a certain level. I've cancelled my direct debit to them and asked them to close the account and send me the contents of my customer account so I can use the money to pay for my bankruptcy.
Am I doing the right thing? ie will the OR think it was wrong of me to stop paying into the DMP?
I can't see how I can save for the BR fees while I'm still paying out to my DMP. And the annoying thing about it is that I've been paying into it for 2 years (the first years payments paid off the DMP fees) and still only 2 of my creditors have accepted the offers so all my other debts have continued to rise with interest/fees etc!
Sorry for all the random questions at the moment! Stuff keeps popping into my head that I haven't previously thought about!!
Am I doing the right thing? ie will the OR think it was wrong of me to stop paying into the DMP?
I can't see how I can save for the BR fees while I'm still paying out to my DMP. And the annoying thing about it is that I've been paying into it for 2 years (the first years payments paid off the DMP fees) and still only 2 of my creditors have accepted the offers so all my other debts have continued to rise with interest/fees etc!
Sorry for all the random questions at the moment! Stuff keeps popping into my head that I haven't previously thought about!!
BR as of 10:30am on 27/08/2009
Proud BSC member #285
Countdown to AD 27/08/2010
"When you do nothing, you feel overwhelmed and powerless. But when you get involved, you feel the sense of hope and accomplishment that comes from knowing you are working to make things better."
0
Comments
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Once you have decided that BR is the way forward it's fine to stop paying into the DMP, the OR won't wind and it's just throwing good money after bad.Accept your past without regret, handle your present with confidence and face your future without fear0
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