Dmp

babyroo

Hi everyone,

I'm looking to go for a DMP, if i go for the one where they right to all my creditors, will i have to surrender my bank account. i'd be grateful for any advice, have spoken to National debtline but also considering to go with payplan.:rotfl:

yellowmonkey

Hi and well done for posting.

The first thing you need to do is post an SOA. See southernscousers sticky on the first page.

The wise and wonderfull will then be able to see where you can cut back and save wastage ( if any) on your budget.

Why dont you pop along to the DMP mutual support thread. There are loads of us on there going through the same thing. I am on a DMP with Payplan and it is the best thing i have done in a long time. I was bewildered and apprehensive when i first started but the advice and support on there is excellent.

Hope to see you on there soon

Good luck and keep us posted.

ym

fatbelly

Payplan sounds good, provided you have £100 per month available to your creditors (that's £100 total, not per creditor).

If not, CCCS can work with you at a minimum of £5 per creditor.

You're OK to stick with your bank account provided it's not overdrawn and not connected to any of your debts. If it is, then you need a new account quick to preserve your access to your income.