DMP and Divorce

BabyBear8

Hi all

We are shortly entering into a joint DMP with some of debts being mine & some being his.

Being a practical person, if we were to get divorced whilst the DMP is still in force, how would it work?

I'm happily married however thought I'd better check!

Has this happened to anyone?

Thanks

Tixy

As a DMP is an informal agreement what would happen is that each of your financial situation's would be assessed at that point and the DMP provider would look at whether you each individually would qualify for a DMP and if it would be in your best interest.
If so they'd reassess each of you based on your new circumstances and then the new amount you pay into the DMP would be paid to just your creditors.
If you have joint creditors you'd each pay a little towards them under your individual DMPs prorata payments. And neither DMP would finish until all the joint debts were paid off.