DPP (Scottish formal DMP) being set up - what to tell creditors in mean time?

Constantinople

Hi,

I'm currently in the process of setting up a DPP (similar to a DMP) and was wondering what I should tell my creditors in the intervening period. Is it reasonable to ask for interest/charges to be frozen? Should I offer to make a token payment?

Does anybody have experience of dealing with the following companies in this situation:

Halifax
Santander
Aqua
Vanquis
Capital One
American Express
Wonga (yes, I know..)
Zebit (as above)

The PDLs are the biggest concern for me as if the plan takes a couple of months to be put into place, the interest will really pile up on these, but I'm not sure what else I can do other than wait as the amount owing is far more than my disposable income.

Thanks in advance for any assistance!

mon1o

Hi

When I set mine up I just told them by phone that I was entering into a DMP with Stepchange and asked them to wait for correspondance from SC regarding payments etc. Wonga actually were the first ones to accept my plan and are the lender who has given me the least hassle.

Good Luck x

Constantinople

mon1o wrote: »

Hi

When I set mine up I just told them by phone that I was entering into a DMP with Stepchange and asked them to wait for correspondance from SC regarding payments etc. Wonga actually were the first ones to accept my plan and are the lender who has given me the least hassle.

Good Luck x

Hi,

Thanks for the reply!

Did you have any trouble with creditors disputing or not accepting the plan then? I don't know where that would leave me. Stepchange calculated it would take just under 3 years to finish the plan which seems reasonable, but I'm really not sure what to expect with creditors.

mon1o

Yes aqua have never accepted the dmp vanquis and barclays are contacting me all the time even though they have accepted the dmp - i just make my payment through SC because that is all i can afford. They can ring me a million times a day or refuse all they like but it wont make me pay more because i have no more.

Its not an easy journey and im still waiting for the fog to lift but the people on this forum are amazing when you need picking up or like me help to refocus.

I know i sound negative but a dmp isnt a quick fix - having said that i dont for one second regret starting mine and i know in time despite the bad days i will look back and know its the best thing i could have done for myself.