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DMP advice please

Hello everyone,

Lightbulb moment 08/05/2012!

I have received the information pack from CCCS but have a few queries.

1. Do I stop paying creditors now by cancelling the DDs? If I do will this not count as a default? Should I even be worried about this?

2. Do I set up another bank account or can I use my current bank account as I am not in overdraft? My current account is also with one of my creditors.

3. I am in the process of moving house so can I send my change of address with the letter saying I'm going to be starting a DMP to my creditors?

I'm just so unsure of what to do when?

Many thanks.

Comments

  • CCCs advised me to cancel DD and offer token payments until DMP set up also advised that I change my bank account just been accepted for a basic bank account with Barclays if you ring them they will let you know which bank would be the best to approach
    DMP started 1st July 2012
    Total debt £24,000 :(
    Balance at 17/04/17 £3496
    Total Paid to date £12000 :beer:
    DFD Dec 2017 :money:
    4 1/2 years in and all is well feeling good:j
  • ~Beanie~
    ~Beanie~ Posts: 3,043 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    925pws wrote: »
    2. Do I set up another bank account or can I use my current bank account as I am not in overdraft? My current account is also with one of my creditors.

    Even if your account isn't in overdraft, if you have other debts with the same company then you need to open a new account with someone you don't owe any money to.
    :p
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