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Just a quick question about DMP......

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Michelle73
Michelle73 Posts: 23 Forumite
in Debt-free wannabe
I have been advised not to make additional payments outside of my payment to CCCs. Can anyone tell me why? Just that one of my creditors has refused the initial offer and has said that if i can increase by a few quid it will stop the debt defaulting and being sold on. Any thoughts please?:o
DMP starts: 01/05/07
Debt free (God willing): 01/05/21:beer:

Proud to be dealing with my debts!
:T

Chuffed to be number 59 of the DMP Mutual Support Club :rotfl:

Number 432 of the Nerd club!:T

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  • racer256
    racer256 Posts: 580 Forumite
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    Contact CCCs first to confirm this. CCCs should contact your creditor re contact they have made to you personally.

    Good Luck
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  • rayday2
    rayday2 Posts: 3,960 Forumite
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    I think you will get defaults anyway so you should stick to your payment offers otherwise where does it stop you are saying you can only afford x amount so you should stick to it, otherwise they think you are lying.
  • Gemmzie
    Gemmzie Posts: 14,876 Forumite
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    If you make extra payments to one creditor then you are treating the others unfavourably and they may retaliate by adding interest.

    Also, if you overpay once then they will expect that overpayment regularly
    No longer using this account for new posts from 2013
  • Newgirl_2
    Newgirl_2 Posts: 367 Forumite
    Debt-free and Proud!
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    I agree with the above comments. Also, you should have completed your budget with CCCS to make sure all your available money is paid on your debts. The credit card companies will try to get you to pay more, firstly to get more money but also, so they can show you have more money available than you have suggested.

    Stick to your guns and if you have any spare money, save it for when the settlement offers start rolling in

    Newgirl
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