DMP acceptances and rejections

teebowbusablaster

I'm doing a DMP with Payplan, and I see that some of my creditors have accepted (thanks) and some have rejected.

What happens to the rejected ones ? I assume it gets worse from here on in with them ?

Pott5y

Payplan will just keep sending them the payments and they will normally accept after several have gone through. Some just take longer than others

Hopefully they will freeze interest and charges too. But not compulsory!!

Any letters you get just forward them on top Payplan and let them deal with it.

teebowbusablaster

It's a bit weird, as some have been acepted by "a lender" and others rejected by the "same lender".
I had a loan, 2 current accounts and a credit card with my main bank, and 2 were accepted (1 current account and a loan) and 2 were rejected,( 1 current account and a credit card). The card company called me the other night, and discussed it and said that as I had been sucha great customer for so long, they would work with me as much as possible to help out, by reducing interest and freezing charges etc. Now I see that they have rejected Payplans offer. Lets see what happens over the next few weeks.

barbiedoll

I wouldn't get too excited about the "you're a great customer" spiel, in a few weeks, they'll be ringing you up to try to sell you a consolidation loan and when you don't take it, they'll probably hassle you for larger repayments.:mad: Most banks have several departments which deal with customers in financial trouble and they rarely talk to each other so that's why you often get different responses for different debts with the same bank. Don't worry too much at this stage, the freezing of interest and charges is a great result this early so keep paying what you can and they will probably all come on board in the end. After all, they can't have what you haven't got!