What to offer creditors?

geb0205

I'm in the process of setting up a DMP with Business Debtline. Sent back all the forms this week and have started a new bank account to run it all from. I have 2 standing orders to the tune of £500 due to go out of the account next monday and I really can't afford it. To date, I've not missed one payment on either standing order. I spoke to BDL this morning who said offer something to each creditor but not the full amount, and stop the standing order.

My query comes in the form of what should I be offering each creditor (one is significantly more than the other) and should I stop the SO before the DMP is set up? I have written letters to all of my creditors btw...

Thanks in advance for advice!

Tixy

Do you yet know how much these creditors will get under the DMP? If so you could offer a similar amount to that.
Otherwise Offer what you can afford - if thats only £100 or less then thats what to offer.