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Has anyone set up there own DMP
in-trouble_3
Posts: 306 Forumite
and what success has it been if you have or did it all go wrong?
How did you go about doing it?
How did you go about doing it?
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Comments
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It takes a while some companies drag their feet but mostly its fine.
I phoned the companies up explaining the situation, then backed it up with a letter and SOA showing how much I could pay.Barclaycard 3800
Nothing to do but hibernate till spring
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Broken_hearted wrote:It takes a while some companies drag their feet but mostly its fine.
I phoned the companies up explaining the situation, then backed it up with a letter and SOA showing how much I could pay.
thank you so much for your reply, our main debt is with lloyds tsb bank where we pay....
overdraft 1500
credit card 365
loan 351.56
how would i word the letter any suggestions? i am writing the letter not phoning them. do i have to send them a SOA?0 -
If you are asking to freeze interest and reduce payments they will most likely ask for a SOA.Barclaycard 3800
Nothing to do but hibernate till spring
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we basically just want them to help us out by yes i suppose reducing payments and freezing interest, until we get our finances in order. i start work next month and end of jan we will have a bit extra money.
are you with a dmp company...sorry just re-read your message
I have a barclay loan which i pay £130.90 a month, have 2 years left on it, so paid 3 years the loan was for £5000 which is a high interest and i pay payment protection on it, wondering if they would reduce the interest and also stop the payment protection, i get no use out of it, never missed a payment with the loan either. might be worth a try.0 -
I've been doing my own DMP for about 2 years now. I sent off to National Debtline for an information pack. That way I had a reference number with them so if any of the companies asked, I just told them I was taking ND advice. One or two asked for a reference number - which I gave them.
It did take a while to set up, but has definately been worth it.
The ND website has loads of template letters. These start from the very bottom, like please hold any charges and go from there.DMP mutual support number 174Total debt now (April 10) £0! - total paid off £30,221 or 100%I'm now debt free after 6 years!!:jNon smoker since June 2006 :j0
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