DMP & new available funds

kathryn123_2

I have had a DMP in place now for over 3 years & it ticks by OK. I have never missed any payments & always respond when the creditors ask for a review. In the DMP i have never made any allowance for Xmas or birthdays ( i have 3 kids), i just always hope a little extra turns up which it normally has. However this year it hasn't plus everything has started to breakdown, washing machine, tv & beds need replacing. My mortgage rate went down last month although how long for no-one knows, so i was hoping to make use of this while i could before it goes up again. ( I am unable to get a fixed rate anywhere). Anyway here's my question, i had a letter from a creditor to say they had been given information that i was now in a position to significantly increase my payments. They couldn't tell me what information they had or where they got it from. Can they just go in & out of my credit file as they want? Also how does anyone ever replace anything when they are on a DMP. My car will need replacing soon? Any advice gratefully received.

pepe2008

Unless you have been making applications for Credit and the application details have somehow got to the particular Creditor, I would beware of their letter as they could just be 'fishing'.

You are entitled to use the little extra money to cover expenses on your Financial Statement or Emergencies. As you say, how long will you have this extra for.

If you still have the extra income at your next review, then you will have to account for it. If you must reply to this Creditor, then just refer them to your DMP provider.

kathryn123_2

No i haven't applied for any new credit.

Charco_2

Funny you should mention that, Kathry123, I have also recently been made aware of information that your are now in a position to pay me £20 a week and legally you're required to do it! I cant tell you where i got this information from or in fact any other details about it but i'll PM you shortly to help you set a standing order thanks!

(I wouldn't worry about it... if your situation hasn't changed then you can't pay any more money, so tell them to blow it out their !!! - well maybe be politer but you know what i mean!)

GeorgeUK

Definately a fishing letter. If anything, you should probably request a review of your budget as living expenses have continued to increase and you may possibly be able to reduce payments.

Is this DMP one you are doing yourself or have you gone through CCCS/Payplan?

kathryn123_2

Lol Charco, almost believable!

My expenses have changed but i have never asked to review because the majority leave me alone & i just rob peter to pay paul in other areas.

kathryn123_2

The DMP was originally set up by my employee assistance programme & now i just manage myself.

GeorgeUK

Might be worth giving Payplan or CCCS a call just to see what they make of your budget. As these charities are both recognised by the financial industry it may be easier to get them to accept any budget change if you either go through them or state that you got the budget information from them.

kathryn123_2

Thanks for the advice. Does anyone know if these companies can dip in and out of your credit file?