Settling debt

gmags

I wonder if anyone can give me any advice. I am coming to the end of my DMP with payplan. I have 8 remaining creditors and owe quite small amounts now of between £200 - £300 pounds each. However, one of my creditors I still owe £2500 and it seems to prevent me from settling some of the others. Would it be advised to either:
a) stay in the DMP until the bitter end - (next Christmas) and pay everyone off at the same time
b) pay some of the smaller ones off every two months or so - possibly agreeing lower F&F settlements and using the freed up money towards the others - being left with just one large sum left but increasing payment all the time
c) try and put aside enough (eat small amounts and walk to work!!) over the next 6 months for a F&F settlement on all of them at the same time except for the biggie.
d) something else

I am worried as I have been told by payplan that I had to treat all creditors equally and I am unsure as to my next steps.

thanks

GeorgeUK

I would offer the smaller creditors a F&F offer, then whatever you save, keep saving this to make more F&F offers until you are able to make an offer to the large creditor.

If Payplan want you to treat all creditors equally you can offer £200 settlement on the £2500 debt, but i doubt that would happen - it might for a £300 debt though. If they don't accept, try settling one of the other debts. I wouldn't worry too much; as long as none of the creditors are being given less than they currently are, it shouldn't be a problem.

gmags

Thank you for your helpful advice. I can see light at the end of the tunnel and i am desperate to get there.