Do you have to declare all creditors on a DMP?

Lilyfairy

After months of deliberation, I am now very close to taking the plunge into a DMP with CCCS. Up until the end of May, I was perfectly up to date with all my payments but missed my first payment to my largest creditor (Egg card) on June the 1st. Everything else is up to date. As I have a small credit card (£900) and overdraft (£1350) with my bank, I would very much like to leave them out of the DMP so that I can hopefully keep my bank account and maintain some kind of relationship with them - keeping them up to date by paying them off slowly and separately. Is this possible or do you absolutely have to declare ALL creditors on a DMP?

Tixy

All creditors need to go in your DMP. As part of the DMP you agree not to take on anymore credit or use anymore credit whilst on the DMP.
And its only by including all creditors will you be treating them all equally and its only if they think that they are all being treated equally that they are likely to freeze interest & charges and accept your DMP.

If your bank account is in an overdraft then you will need to open a new bank account elsewhere with a bank you don't owe any money to.