2nd payment on dmp

danp100

Hi,
i made my second payment on my dmp last week but i am still getting letters and a lot of phone calls, is this normal? i have spoken with my debt company and they have said letters have been sent and are waiting for acceptances. surely some of the money i have paid will be going to the creditors? what if they dont accept it what happens then? I read on my contract that i should receive a statement showing how my payments are being distributed, does this actually happen? a few questions i hope someone can answer,
many thanks
dan

CH27

Which company are you using?

cheesedoffwithdebt

HI

I read your post and thought "yeah, I remember those days"- it does seem to go on and on but eventually this does settle down. I think the issue is you are on the company's list to chase and I don't think they revise their data in a hurry- it's hard but you need to understand you are one of 1000's the call centres are calling each day and their job is to pressure you into doing something they want...therefore.. please ignore all incoming calls, if needs be, and I did this, get a new mobile if possible.

You can always 1471 a call, and tell your family to call your mobile where you can see the caller when it rings, if they need you.

Your debt management company will write and make an offer to all of the creditors explaining what you can afford, they will have guidelines about what they will accept so if what you are paying is below their guidelines for an arrangement to pay, then they may well continue to pursue their debt. You haven't said which debt management company you are using, but if they are fee charging could I suggest you sack them asap and move to a non fee charging organisation such as CCCS or CAP? CAP actually have a very good reputation for giving honest and clear advice, but in the short term you do have to sit out the calls etc. You should forward any letters to the debt company as well, once your creditors see regular payments coming in they should settle down but my inclination would be to make sure you are actually getting good advice in the first place-there are too many companies who will set up a DMP when the honest answer is an IVA or BR would be a better option.

Squirrel29

Ive made 3 payments to Payplan and still getting the odd letter saying I'm not making min payment etc. I just stick them in a file and don't worry about it. I think it's par for the course tbh.

Tixy

Dan are you using a commercial DMP company that charges a fee or one of the free providers?
With a lot of the commercial ones your first 2 or 3 months payments are taken all as fees to them and they don't start sending money to your creditors until after that.
If that is the situation you are in I would suggest you switch to a free company and possibly make at least token payments to your creditors this month (even if its just £1 each).