How do you DMP yourself?

rkh001

Hi guys

Hope someone can help. How do you go about doing the DMP yourself?

DH has cc debts of about £45k and seeing that so many of you have been so good at reducing your debts, I thought I'd ask. He is not very good at contacting companies etc but I am and will do it on his behalf.

Any advice welcome.

Thanks.

livinginhope

Not sure about sorting out a DMP yoursef as I am with Payplan.You say he isn't good at contacting companies and that you will do it,well I don't think his creditors will deal with you as the debts are in his name so they will only talk to him.If contacting the companies will be a problem why not get him to contact Payplan or CCCS and they will sort everything for him without all the hassle.
Good luck

davek1

right it might be wise given your commets to get OH to write first letter saying he gives you authority to act on his beahlf. This will make things easier.

Then write to creditors explaining you are in financial difficulty and in an effort to resolve the situation you need up to date figures showing amounts owed etc. Explain you will send in an income/expenditure sheet, details of all debts owed and an offer of payment. It is worth asking them to consider freezing any interest as well.

You then need to create an income/expenditure sheet, be honest and be realistic dont forget things like birthdays etc.

Create a list of all your creditors and detail amounts owed. list this in order of highest amount owed down to the lowest. Using your income/expenditure sheet use your surpless money to slit payments across your creditors on a pro-rata basis. Highest offers to highest debt etc.

Only deal in writing and not on the phone. Keep copies of all corres, and send letters by recorded delivery.

Hope this helps. Alternatively contact CCCS or Payplan for help.

Dave

rkh001

Thanks livinginhope and davek1. I think I just need to get a grip on EXACTLY what he owes to whom. I just want to help him out sort it all out as he now has a good job. He is money-shy when it comes to talking about it and I would rather know where we are so that we can make headway towards clearing the debt.
Fingers crossed, I might be able to make some sense of his debts. I know where mine are and I have just transferred to the Amex card for LOB transfer which I know has been approved.
Thanks once again.