How many DMP's have gone well?

dazla

Hi

I am just about to embark on a DMP with payplan. I am interested to know how many people are there who have been on DMP's which have run smoothly and where creditors caused no trouble for them. I am embarking on the DMP with some trepidation but feel its the right thing for me to do

Thanks
daz

Superbiatch

I'm managing my own, 3 months in and going smoothly. No communication other than monthly statements from creditors since agreeing payments.

I know around the six month mark I can expect them to start negotiating again, but if i'm still in the same predicament there will be no more money for them - simples.

eyeopener2

I'm almost a year in. No real issues to speak of now. The beginning was a bit hairy but after the first couple of months it's been fine.

cobblers_boy

I am about 4 years in t a self managed DMP. Started off with about £131k debt and have redued this to around £80k at the moment. Have now prevented all creditors from ringing me so only get letters and that makes for a far greater stress free life.

Every few months they write and ask for more money but I have a standard letter I send back which says to increase payments to them would be unfair to my other creditors as they would then be receiving proportionately less of my repayments. As a rule they then shut up for a few months.

Good luck with your journey. If ever you find yourself struggling just post on this board and the fab people will send you lots of encouragement as they are wonderful.

CB

:beer:

shellyruby

Hi Daz,
well done for taking the step..
ive been with payplan for 6 years and theyve been nothing but helpful for the whole 6 years.
when i first signed up with them they were so nice to me[i was so anxious about my debts] and put me at ease.
no problems with creditors once the inital process started and they all accepted and yearly renewals all accepted every time.
am very happy with them.
good luck..you ll be fine with them.

Jinx

I did my own DMP for eons........ Some creditors are fine and it all goes swimmingly but others take a bit more persuading. Payplan have a great reputation, you'll be fine with them. It IS nerve racking starting a DMP but its a relief when up and running and great to know things are under control. Good luck

saltnvinegar

Hi Dazla

I'm also on a self managed DMP and have been since last August. Most creditors have been great, some have been complete @holes!

Payplan will do most of the administration for your which, tbh, is the biggest headache of a self managed solution.

Hope it goes well for you and well done on starting your debt free journey.

Best

SnV

mummum2

In my 4th year DMP, started with fee paying DMC and since May last year went on a self-managed! all fine apart from Lloyds credit card! (have, N/Rock, MBNA, Santander, Cahoot, Egg and 3 Lloyds, although overdraft sold to Apex, who has been great by the way!, but that's for another time! within that time gone from £64K to just under £29K (partly due to PPI payout!!). It's very doable although you must be on the ball with writing, sorting out your own finance.

Looking to finish in 2013 and with God's guidance I'll overcome this!

Good luck, keep asking questions if you need or simply come for a bit of reading at what others have/are doing, this site is truly wonderful.

MM2

Jules28

Hello,

I am just over a year into my DMP and after the initial messiness of waiting for the creditors to agree, it's been fine (with the obvious exception of payday loans who are still arguing about it, but hey ho, my own fault for taking them out ) . After 6 months everyone asked for it to be reviewed and again after a year - but all agreed to continue at the payments initially agreed.

On the whole, my situation now compared to how I was before I entered the plan is night and day. I get my monthly statements and that is pretty much all my contact with my creditors. It is a good feeling knowing every month that I am paying off my debts, also, it is very nice not getting constant phonecalls etc.

Good luck with your plan,

Jules

dazla

Thanks everyone for your replies, it has helped be allay some of my fears about a dmp

Deep_In_Debt

3 years on and it's all going well. I did get a bit of hassle from some of my creditors to start with but it all settled down within a few months. Not had a telephone call from a creditor since 2008 and all but one of them has still kept interest frozen so I'm making some good headway.

Good luck with it1