DMP - How many are on one?

mrsmather1

Happy New Year to you all and I hope this is the year for my OH and I to sort out our finances.

I have been on the CCCS website and they have advised that we go on a DMP. If we do this then we can be debt free in 3 years and 7 months (YAY!!). I was just wondering if anyone else is currently on a DMP and what their experiences of them are. It seems like a pretty big step although I'm sure it would be for the best.

Thanks

dlb

I am on a dmp, and have been since Feb 06.
Its the best thing i ever did, i am in control of my finances now, and i can see a light at the end of the tunnel.
All of my creditors agreed to stop interest and my payments are reviewed every 6 months.
I now pay £400 a month a amount that allows me to live comfortably and keep up with the other bills, eg rent council tax ect, instead of trying to pay £1100 a month in min payments and get further into debt.

I have paid £2000 off my debts since i join a dmp and i am not worrying about the letters and phone calls any more.

Hope that helps
Donna

jellebabe

Hi, Happy New Year too!
Im with CCCS who have been excellent, all my creditors either halted or reduced interest except Black Horse, who have been charging sky high interest and adding charges, not sending me statements and now 2 years along I owe nearly double.(which was a massive shock)
So yes great people, just check what each creditor is doing, prob via CCCS as they dont like you contacting creditors directly.

Good luck

Broken_hearted

I'm in a DMP and its not as scary as it seems. Time flies, you'll be debt free before you know it. Happy new year.

moxie_2

I'm in one too, have been for 18 months. Best thing I ever did. I'm now considering an IVA though as suggested by Payplan.

looby75

I'm just starting a DMP with CCCS, so far it's been pretty easy to set up. I'm starting to get letters/phonecalls from my creditors now while its all getting up and running but as soon as I tell them I'm getting help from cccs they, for the most part, simply say ok.

I'm still waiting for MBNA to get in touch, they are the one I'm dreading but if they give me too much bother at least I know I have cccs to back me up

jellebabe

Some of my creditors put pressure on me, american express and black horse (funny old thing) once you threaten them with legal, forgotten the term CCCS will tell you, they pretty quickly leave you alone HTH

livinginhope

We've been on a DMP with Payplan for nearly a year now,best thing we could have done,we did have constant phone calls from creditors at the start,but they soon died down,all creditors have stopped adding interest and charges,but 3 creditors still haven't accepted their offers,Payplan say they will in time.
LIH

System

Ease, interest frozen, light at the end of the tunnel. I have paid almost £7k since Apr.