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Can overdraft debts go into a dmp?
Sunny_Bear
Posts: 404 Forumite
as above!!
Thanks xx
Thanks xx
0
Comments
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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/2077631Although 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 deficiencies0 -
Yes, they can- mine have! Good luck xx0
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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.0
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