DMP. Creditors suddenly rejecting offers?

sionnach67

Hello.
I hope this is posted in the right place.
I'm on a DMP with Payplan ( have been since Nov 2010), apart from one creditor ( who has CCJ'd me in the last 3 weeks) all had accepted my offers.
I increased my payment this month, but now 2 of my other creditors have rejected the offers. So the 3 largest creditors are now rejecting, despite an increase.
One was transferred to a DCA this month, who accepted it for a few days and have now rejected it.
I really don't understand why this is happening, or what to do?
Is it possible that the CCJ has pushed the other creditors into considering similar action? If so, would I be better to look at an IVA?

So sorry for so many daft questions......my stress levels are through the roof!

Thanks for any thoughts
S

Tixy

Just a thought - have your new increased payments pushed you close to what your original minimum repayments would have been (prior to the DMP). Sometimes this can cause creditors to reject a DMP.

Alternatively have you done a new income & expenditure with payplan to work out these offers? is there any cost on there that has increased significantly that they might have a problem with?

Even if they say they have rejected your offers you should just keep paying payplan who will just keep paying them the offered amount. Its likely that they may take no further action.

One last thought - do you have a property with equity in it?

sionnach67

Hello Tixy
Thank you very much for your reply.
I actually decided to be brave and ring the creditors and find out what was going on ( almost unheard of for me, but I just feel a little out of the loop with my DMP at the moment)
Turns out that for one of them, Payplan had sent the wrong offer ( the offer they sent was £100 LESS than it should've been.... no wonder it was rejected)
And the other one ( A DCA ) appears to have rejected it because they say they have closed the account and returned it to the original creditor.

The amounts I'm offering are not a great deal less than the minmum payments.In fact, had I not got in a complete mess with Payday loans ( I know, I kick myself daily as penance :mad:) I could pretty much pay the other creditors without a DMP. It maybe that I'm offering too much.

I don't own my house by the way, I rent.

Thanks again for your reply:D