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ADVICE RE DMP Please???

Hi everyone. This is my first post so please be gentle with me!

We are starting a DMP with CCCS soon. I was going to try to manage one myself but it is just too overwhelming! We have about 8 creditors 5 of which are reasonably small amounts, 3 of which are larger personal loans and credit cards. We remortgaged a while ago to try and consolidate but didn't work. We made a £6000 overpayment to one loan which left about £2500 outstanding. The comp has written to us saying we can leave the payment there or request a refund and continue with payments. So...... should I request a refund, pay off the smaller creditors with it and just have the three big debts on the DMP or leave it there and have them all on the plan?
I hope this makes sense and would welcome any advice.
Thanks,
Lisa
A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort. :D

Debt at :idea: moment (1/2/07): £33000 _pale_
DMP started 1/5/07 (payplan)

Comments

  • L-Jay
    L-Jay Posts: 232 Forumite
    Part of the Furniture Combo Breaker
    Do you know the APR's on all for all of your creditors? Are they freezing interest?

    I guess if all of your interest is frozen just leave it if not pay off the ones with the highest interest charges.
  • lisav66
    lisav66 Posts: 6 Forumite
    I am still at the very early stages of setting this all up. The ones I have spoken to so far have said they will hold action for 28 days. Egg have said they will likely agree to whatever the DMP is. Comet semed quite understanding too but who knows what they will be like once it all kicks in.
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort. :D

    Debt at :idea: moment (1/2/07): £33000 _pale_
    DMP started 1/5/07 (payplan)
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