Payplan DMP

up_the_creek_5

Hello

I have finally recd my DMP to sign. I have decided to stick with this for now while i find out if i can go bankrupt re my job.

In the pack there is info about covering the DMP payments against death, redundancy, accident/sickness. Has anyone taken these plans out. Also is it worth taking out the life cover as i would only have a modest est to leave.In practice don't creditors tend to write off debts when the debtor dies.

Thanks

madduck

It depends to be honest. It would really be dependant on whether or not you have left any estate. Do you own your own house? Do you have life insurance? Do you have any valueables?

Some firms look upon things sympathetically and don't follow up too strongly on things. Have experience of this within my own family recently and was amazed that we didn't have as many problems as we feared.

However, there scare stories out there of families being hounded for debts left by their loved ones.