DMP Worry

sfc7603

Hi everyone, I have been on a DMP for a year now with Stepchange Debt Charity paying £398 a month. I had to make a reduced payment of £25, with £5 distributed to every creditor about 3-4 months ago. Stepchange was fine about this and thankfully none of the creditors reintroduced interest as a result. I just had my yearly review with Stepchange 1 week ago and it concluded that my monthly payment will be reduced to £383. However, unfortunately I once again have got to pay for emergency car repairs and will therefore have to make another token payment of only £25 to Stepchange. I'm a bit worried about the consequences of this as it is my first payment following my review, and I am worried that the creditors will get annoyed and reintroduce interest as a result. This will be the second time that I have had to make a reduced payment. I wondered if anyone had any experience of this and what the repercussions are likely to be. Any help and advice would be massively appreciated. Thank you.

Stewart_78

In my opinion the more you pay, the more likely they are to charge you interest. They have to be seen to be fair and it doesn't look good to hit someone when they are down. I wouldn't worry about it if I were you. You are doing your best to pay them off but you can't give them what you don't have.

Growurown

My creditors have never re-introduced interest on the basis that I had to make a reduced payment. The couple of times I have made reduced payments (both due to high car repair bills) it didn't really affect my DMP. I got a couple of letters but when I explained the situation they were OK. Some said I had broken the agreement and asked me to get Step Change to send them the figures again. When they had those they all went quiet.

sourcrates

Don't worry yourself about it, you tend to think that creditors are scrutinising every move you make, when in reality at any one time, there will be thousands of people like yourself, they realise things change, and bills just crop up, your just another number to them on a spread sheet, these things happen in life fact ! pay what you can, then resume your normal payments when you can, nothing will happen, just roll with it :rotfl:!!