DMP, BanK a/c advice pls?

mrs1978

Hi all, I am currently at the very beginning of a huge struggle to ditch near 50k of debt...

I have been approved today for a cashminder account and intend to transfer my DD's and Wages to that from the dreaded Lloyds a/c where i have an OD of £5000 and also a CC £3900

+ other debts with Egg, Barclays,Arrow, Cahoot, Capquest & Virgin.


My question is, once transferred all of my stuff over to CO-OP, what do i do with the CC & current a/c with Lloyds, presumably i cannot close them with outstanding debt. I am slowly gathering my info for Payplan....but am on maternity leave on stat pay atm and not returning to work until 1st Oct where my wage returns. So difficult to sort?!? Do i sort payplan now, or put on hold til return to work...

I have most of the debts in order atm, with payment agreements and interest frozen (organised that myself) But not LLOyds...

so any advice of what my next step is? I can only handle baby steps at the moment, 3 kids and a sore eye

Thanx in advance!!

Pott5y

I would talk to Payplan and get their advice. I would probably be inclined to start the ball rolling now. The sooner you start the sooner things are in place. Budgets can re-assessed at any time.

Once the new account is open, LLoyds will soon contact you when they see that the money is no longer going in. You can then reply to them and tell them you are on a DMP and to deal with Payplan.

Good luck!!