starting dmp payments

lookingforthelight

Hello everyone,

I am about to send off my income & expenditure and debt details to payplan who I think take around 4 weeks to set everything up.

What happens about payments when some creditors accept and some don't?
If Payplan have calculated I can pay £700 per month, will I only pay part of this for the creditors that accepted and token payments to those that didn't.

In summary, will my monthly payments to Payplan slowly increase to the £700 as and when creditors accept the deal?

Thanks for any help

Tixy

No Payplan will pay them all the pro-rata amount each to total your £700 whether or not they agree to accept them.

Numpty_Monkey

Payplan will make the payments as Tixy has said
if any creditors don't accept the plan to start of with, they will accept the payment and after a while things will settle down as long as they are getting regular payments