How long can a dmp go on for?

heatherks

sharp82 wrote: »

Think as long as you can afford to pay it, they'll just keep it going

Its in the creditors interest to keep it going till completion.

i am on a dmp with CAB and in a recent letter from ...Barclaycard they told me they would only accept reduced payment for a maximum of 5 years ....wish they would send my account to a DC ..lol

ValHaller

cc4rhu wrote: »

And to get from 88 down to 12 initially I was really firm with my initial offer. If interest was charged I dropped my payments until they stopped the interest. Never missed a payment though. Then using the above method I argued that I increased my payments frequently and after the first year or so I've never had any hassle at all.

Was this a self run DMP? Because I thought with the usual providers, you have to allocate payments in a way that they seem fair?

antonic

It took me 90 months to clear my debts, original plan was for 84 months but then HBOS added interest which extended it for 6 months.

cc4rhu

ValHaller wrote: »

Was this a self run DMP? Because I thought with the usual providers, you have to allocate payments in a way that they seem fair?

No with CCCS. But I don't pay by DD, I pay by SO so I have more control.

Stewart_78

Mines got 269 months to run! I don't see it going that long. All accounts I have are defaulted and fall off my report in 2016 when I hope to remortgage to do full and finals hopefully around the 25-30%. I have plenty of equity in the house, I just can't use it at the moment.