Free!

3431Anna

MervC wrote: »

After almost 4 years in a DMP with Payplan which started with 8 creditors, I am down to 2 creditors (neither of which were defaulted), I have just exited the DMP... Woo-hoo!
With monthly commitments of £1,700 to creditors in the DMP, my contractual payments are less £300 per month to the 2 remaining creditors but I have set up standing orders of £800 so that they will both be paid of in 6 months.
Strangely enough, when contacting these 2 remaining creditors to advise of them of the situation I was asked if I wanted the credit cards reinstated. Errr, no thanks! LOL
It's nice to be in control again and see light at the end of the tunnel. This all came about as a result of the unexpected and uninsured death of my partner so it was a tough time but this site, full of advice and stories of how others coped, helped tremendously...
Thank you and I hope everybody comes out relatively unscathed too. :j

Well done you must be thrilled, can I just ask you say you started with 8 creditors and are now down to 2, were the other six just cleared during the course of your plan or were they settled early I ask because in my plan I have two small debts which I could manage to settle as my OH said he would settle them but I am afraid to do this incase my other creditors think that these two are getting preference and start to charge interest again, thanks for any help

MervC

3431Anna wrote: »

Well done you must be thrilled, can I just ask you say you started with 8 creditors and are now down to 2, were the other six just cleared during the course of your plan or were they settled early I ask because in my plan I have two small debts which I could manage to settle as my OH said he would settle them but I am afraid to do this incase my other creditors think that these two are getting preference and start to charge interest again, thanks for any help

Hi Anna,
Thanks very much for the "well done" and, yes, I am thrilled.
The other 6 were paid off over the life of the DMP. I was with Payplan and they made it quite clear that preferential treatment to one or more creditor might cause problems so I didn't contemplate that. I think that I know what you are feeling (having been there): Wanting to reduce the number of accounts by paying off the smaller ones, but I think what matters is the total debt and keeping all creditors happy. Stick with paying the fair share (based on current balances) to all your creditors until you are free of the plan - Life is difficult enough in a DMP without one or more creditors thinking that they have been treated unfairly and chasing after you for full and final settlement as a result! Keep the faith and you will get there. Merv

scarlet55

well done merv.....congratulations on nearly being debt free....:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

MervC

scarlet55 wrote: »

well done merv.....congratulations on nearly being debt free....:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

Thanks scarlet55...
It is a great feeling! :j :j :j :j