DMP advice after reading threads...please xx

eyeopener2

Once things settle down you will be fine. The initial couple of months is difficult but then all the calls stop.

good luck.

woody24

Thank you. I made all my payments as usual this month (I always pay in full and never make Late payments) do u think that will against or in my favour - they might think "well uv never had a problem before" or will they think "youv been a good customer up till now so ok we will help u out"

I'm sorting all paperwork this weekend and sending off all my letters ..... Eeeeeek

antk4

I'm worrying about this too. Always paid on time and now this. 3 of my creditors have sent back letters sympathising with my predicament. Yeah right! Hopefully they'll still be this way when they see what I can pay them.

woody24

antk4 ... that's what Im hoping. Although Im thinking my offer could be so so much worse. My biggest creditor will still be getting half their payments so they cant moan too much! Its more preferable than me going bankrupt where they get nothing surely! Fingers crossed ... be interested to see whatever ur creditors accept or not! keep me posted ... il do the same x

RAS

CAn I just check that you do not bank with any of your creditors?

If you do, you need a new bank account pronto.

mozzyc

Can I just say, its great to be optimistic, but everyone's dmp experience will be different, depending on your circumstances and creditors.
I've been on mine for 5 years, I still get demanding letters from certain creditors, and especially when the debt is passed onto a new debt collection agency.
And I do still get phonecalls. But what's makes the difference, is how you learn to deal with it all, and accept it, compared to when you first started. Creditors are within their right to demand payment and keep charging interest, but you learn procedures on how to deal with this, and overall, become more aware of your rights and how to do things.

I'm glad I entered a dmp, as my balances are finally clearing, but it certainly hasn't been plain sailing all the way.