Quick question about DMP

Jack9917

Hello,

Just a quick question to anyone who knows, after sending all my paperwork off to StepChange via email how long does it take (roughly) for a DMP to be set up?

Just wondering as I have payday loans due for repayment tomorrow which I cannot meet and I know I will be harrased by them non-stop after tomorrow even though I have told them I am entering a DMP.

I know it will take a while but is 2 weeks unrealistic do you think?

DaveK1971

Hi, I entered a DMP about a fortnight ago and first payment into it is due on Saturday.

Giraffeseeker

It's very quick. You should have a DMP number straight away so just quote that at them and tell them to contact StepChange. Or put the phone on silent and ignore them.

Jack9917

Thanks a lot for the answers I appreciate it now I can relax a little.

DaveK1971

You will no doubt get some automated calls but I would advise that you contact the payday companies yourself and advise of your situation. I am defaulting today on a few payday loans and have spoken to all of the companies in advance. I am still expecting to be bombarded with phone calls but hopefullly contacting them up front will minimise it. Some of the companies have 24/7 live chat so you can speak to them now.