Has any of you on DMPs reduced your amount

susieanne

I posted before and got some excellent advice about my DMP but need more help . I wondered for any of you who are on a DMP have any of you reduced the amount that you give to your creditors ?? did your creditors accept a lower amount ?
I am going to phone my creditors tomorrow to explain that with many of my bills going up over the last 18 months im struggling and i am going to see if they will except a lower payments but im so afraid because everything has been going so well with my DMP im afraid im going to mess things up by doing this . I would just like to add that all the interest on all my debts has now been frozen .

Deep_In_Debt

I've not reduced my dmp but I've not increased my payments to them for a year or so due to the rise in cost of things. They were ok about it.

I'd send them an up to date SOA.

I've read on here about people who have reduced their dmp's and generally the creditors have been ok and quite understanding, so certainly worth a try.

Good luck.

susieanne

Just a quick update i managed to phone most of my creditors yesterday ( i know the rule is usually to write but i would sooner phone my creditors and get an answer there & then rather than write and wait for responses ) Anyway i rang them and explained i was struggling again due to the rise in household cost gas/electric/water /food/petrol have all increased over the last 12 months and they all accepted a reduced sum even Lloyds :j

LianeB

I see you've sorted it now but I halved what I was paying 2 years ago when I went to University and my income halved.
Payplan dealt with mine and they gave me the impression that as long as you are still paying something it keeps the creditors happy