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Can overdraft debts go into a dmp?

as above!!

Thanks xx

Comments

  • DarkConvict
    DarkConvict Posts: 6,347 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Yes.

    Any debt can go on a DMP.

    Basically you start a new account account, and see the old bank account as any normal debt.

    Remember to get a DMp from the right people - https://forums.moneysavingexpert.com/discussion/2077631
    Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.

    There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies
  • Luckystepho
    Luckystepho Posts: 353 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Yes, they can- mine have! Good luck xx
  • ukjs1976
    ukjs1976 Posts: 34 Forumite
    Yes - my overdraft (and all associated charges) is in my DMP.

    Important bit -
    before setting up a DMP sort out opening
    a new bank account that has no association with the creditors you have.
    Why? Because the bank account with the overdraft will be one of
    the debts being paid off at a reduced repayments under the DMP,
    so effectively you won't be able to use it anymore as the bank could
    and probably would take all your income to pay off the overdraft.
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