DMP issue

greenbrucelee

all of my creditors apart from 3 have accepted my DMP with payplan.

The 3 that have not accepted the DMP have threatend me with court. The amount that payplan has offered them out of my payment to payplan adds up to £25 in total. These creditors would also accept a lower settlement figure if paid off too.

A friend of mine has offered to pay those creditors of for me aslong as I pay him the £25 pound back. So I was thinking of taking him up on his offer and reducing the amount I pay to payplan by £25

This would not affect the payments to the other creditors as their payments would still be included in the payment to payplan.

so at the moment I payplan £230 which includes all payments and a cover my payment plan incase I am made redundant reducing it to £205 still leaves enough to pay the rest as notmal.

Does anyone know if this would cause an issue with anything?

Mort

Payplan always advised me to treat creditors equally, they did not want one to be seen being favoured more than another. Paying of some might make the others play up.

I suspect that those who are threatening action are just trying it on, Payplan will have sent them your SOA so they will know what you have available and any court will also see the same info.

greenbrucelee

Mort wrote: »

Payplan always advised me to treat creditors equally, they did not want one to be seen being favoured more than another. Paying of some might make the others play up.

I suspect that those who are threatening action are just trying it on, Payplan will have sent them your SOA so they will know what you have available and any court will also see the same info.

do payplan advise the other creditors if any have been paid off?

The others have agreed to the payments and their payments should not reduce as the £25 is covered by the three that are acting up.

When my dmp first started their was another creditor on the dmp but they managed to get the money from my bank account (also another creditor) which made the debt with the bank worse as it ended up increasing my overdraft. None of the creditors responded to that.

Mort

I don't know if Payplan would inform the other creditors. There is a Payplan employee who posts from time to time who might chip in on your thread who could give a definitive answer.

At review time your new SOA and budget will get sent out so creditors might spot that there are some missing. I suspect that they will share information between each other and with the credit reference agencies as well.

Payplan_company_representative

We would always advised that you treat all creditor fairly.

Your creditors will have seen your financial statement and will know all of your other creditors, if something was to change we would have to submit a new financial statement so they would be see, otherwise they would see at the annual review stage where we re-send everything.

It is your desicion as to what you want to do for the best, we can only tell what we know from our experiences. It is always best to speak to your case officer who will be able to speak in more detail about this.

Let me know how you get on.

greenbrucelee

Payplan_company_representative wrote: »

We would always advised that you treat all creditor fairly.

Your creditors will have seen your financial statement and will know all of your other creditors, if something was to change we would have to submit a new financial statement so they would be see, otherwise they would see at the annual review stage where we re-send everything.

It is your desicion as to what you want to do for the best, we can only tell what we know from our experiences. It is always best to speak to your case officer who will be able to speak in more detail about this.

Let me know how you get on.

Thanks for the info.

I am not sure if my friend has paid these 3 creditors as he is in london on business but I suspect he may have.

wannabee_in_credit

I'm sure I was told by CCCS that if I had extra cash to pay then it needed to be distributed equally.
But I see that you've had advice from the people in the know...

BlushingRose

wannabee_in_credit wrote: »

extra cash

What's that? lol
Never heard of it!