help with my own DMP?

odydog

Has anyone got any advice on doing my own dmp?
Am currently with a debt management company and want to leave to set up my own. Currently they take £145 a month,£28 of that is their charge.would like to do my own dmp as recently had lots of letters etc.
Any templates would be great as im not too great at letter writing,any advice on how to calculate my payments etc.

Debts are; £17200
£1900
£200
£200

How shall i calculate payments of £145 a month, will increase when i go back to work

flybutterfly

to calculate fairly would be to
£145 % £19500 = 0.0074358974358974 then x £17200= £127.89
£145% £19500 = then x 1900 = £14.13
£145 % £19500 = then x 200 = £1.49
£145 % £19500 = then x 200 £1.49

total £145.00

hope this helps

odydog

Do you think i these payments would be accepted through my own plan? im so scared to branch off on my own but feel that once the ball is rolling it should be ok!

fermi

There are a set of letters for a self managed dmp here:

http://www.ned-cab.org.uk/debtselfhelp/dmp.shtml

National Debtline: http://www.nationaldebtline.co.uk/ will also send you a letter pack if you ask I think?

Culex

odydog wrote: »

Has anyone got any advice on doing my own dmp?
Am currently with a debt management company and want to leave to set up my own. Currently they take £145 a month,£28 of that is their charge.would like to do my own dmp as recently had lots of letters etc.
Any templates would be great as im not too great at letter writing,any advice on how to calculate my payments etc.

Debts are; £17200
£1900
£200
£200

How shall i calculate payments of £145 a month, will increase when i go back to work

You'd be wiser to go to a charity, such as CCCS or God-botherers Against Poverty or use the free services of PayPlan.

Let someone else have the bother!

Hannah_10

There is an argument for using a genuinely free DMP provider (eg Payplan), but there is an argument against too. They don't offer you the flexibility to do things like ignore any statute barred debts or pay your way out early with settlement offers. It would depend on how daunted the OP is by self-managing really.