DMP Advice

Luckystepho

Hi everyone

I am on a DMP with Payplan, but due to the amount of debt I'm in it is going to take years to pay off

My mum has offered to give/ lend me some lump sums to offer full and final settlements. However, she would only be able to give enough at a time to pay off one of two creditors.

I was wondering whether it is possible to offer F & F settlements on one or two debts at a time, with the DMP continuing and monthly amount spread between the remaining creditors, or whether F & F settlements would need to be made to all creditors at the same time?

Many thanks

Tixy

Hi

You can make offers to just one or 2 creditors at a time, you need to do this yourself (not through Payplan) and you need to make it clear that the money you are offering is a relative's money not your own.
There is a good factsheet and template letter on the national debtline website.

Luckystepho

Thanks a lot Tixy, I will take a look