This would be so much easier was it not a weekend...

aaron_223

Hi all, new to the forums, 22 years old and £6,000 in debt.

The worst thing about it is I've been brought up well and been working and training since I was 14 years old (albeit only a paperround for the first two! )

Anyhow, I am now finally taking action, just entered into a DMP with payplan, I have the paperwork today to confirm they can begin negotiating with creditors.

Two questions:

1. The letter states about opening a new bank account, I have a meeting at Barclays tomorrow lunch time, untill my new account is set up, should I hold back sending my signed agreement?

2. I have this week sent off two applications, one to Natwest, this is for excessive charges, and one to Aqua (Halifax) for PPI on my credit card.

Regarding the second, am I in danger of hampering my claim to Aqua and Natwest by entering this DMP, ie. should I hold off at least until I get responses? Or just get it going and start my 2 year journey to being debt free?

Thanks in advance if anybody can help with these.

Come to think of it I also have one final question, two of my debts that are going into the DMP are payday loans (:o). When I enter into the DMP are these companies going to harrass my employers? Or will they deal with payplan going forward.

1 and 2 I came on here before ringing payplan tomorrow as I need to know wether to post this agreement.

3 can wait untill tomorrow I suppose!

Tixy

Hi

1 - Presumably you've checked that barclays are not linked to any of your creditors? If so then seeing as you have are meeting the bank tomorrow I don't think you need to delay returning the documents.

2 - Again I wouldn't hold off starting the DMP. Obviously if your claims are successful the repayment will reduce your debt rather than be paid to you - but that will make your DMP that bit shorter.

Difficult to say with the payday loans - surprising some people have reported that payday loan companies have been the first to accept their DMPs. They shouldn't harrass you at work. If they do there is a letter you can send to stop them contacting you there (or to stop phone calls in general) and require them to only contact you in writing.

aaron_223

Much appreciated Tixy.

That's correct I ensured Barclays weren't linked.

Thanks for the answers, the payday loans one I will look into this letter you've mentioned, this website is so easy to find your way around I'm sure I shouldn't have a problem.

I also assume, payday lenders are so willing to accept the negotiations with Payplan etc. because they KNOW they're practically crooks.

Less of that, the 'crooks' drew me in and I have to face up to that.

Thanks for the help anyway. :T