DMP number- When is this actually given? how long does it take ?

Galeeno

If considering doing a DMP with stepchange, when is the DMP number created? and given to you ?

after the income expenditure form has been done, in the first phone call to stepchange ?

or Is it after stepchange pass the info to the creditors? and After they agree on the payment amount £?

If they contact the creditors, for the arrangement offer,
How long do they usually take to get back with a yes/no decision ?

and from there, pass it back on to stepchange ?

Sazzie23

Galeeno wrote: »

If considering doing a DMP with stepchange, when is the DMP number created? and given to you ?

after the income expenditure form has been done, in the first phone call to stepchange ?

or Is it after stepchange pass the info to the creditors? and After they agree on the payment amount £?

If they contact the creditors, for the arrangement offer,
How long do they usually take to get back with a yes/no decision ?

and from there, pass it back on to stepchange ?

Hi just seen you have started this thread as well, I'm guessing you might be feeling a bit desperate.

SC will set up the DMP as soon as they can, and they will give you a ref number almost as soon as you have completed the on line debt remedy. You can use this number straight away to creditors but the actual DMP takes a while to get going. As described on previous thread, the money sits around at SC for a while before going to the creditors. SC takes the view that creditors will accept so they just continue on with the DMP setting up and even sending payments even if the creditors don't agree, the creditors still take the money.

Try not to be panicked into anything you're not ready for, but well done for making a start at facing your debt issues.

Galeeno

Sazzie23 wrote: »

Hi just seen you have started this thread as well, I'm guessing you might be feeling a bit desperate.

SC will set up the DMP as soon as they can, and they will give you a ref number almost as soon as you have completed the on line debt remedy. You can use this number straight away to creditors but the actual DMP takes a while to get going. As described on previous thread, the money sits around at SC for a while before going to the creditors. SC takes the view that creditors will accept so they just continue on with the DMP setting up and even sending payments even if the creditors don't agree, the creditors still take the money.

Try not to be panicked into anything you're not ready for, but well done for making a start at facing your debt issues.

so SC could accept the planed amount, )even if 3 out of 9 creditors don't accept it)

Monthly payments go out to SC by me, (even though 3/9 creditors have refused the amount)

But as the months go on, SC try to communicate with them 3 to get them to accept it?

Is that right?

What makes SC sure that if the 3 rejected companies don't accept the offer that they will accept it, as 2-3 months of payments have been met?


ie, how do SC persuade them companies to accept that monthly payment ?

Deep_In_Debt

When I started my DMP with Stepchange (CCCS as it was back then), they sent me template letters to send to creditors, enclosing a £1 postal order whilst the dmp was being set up. I recall it only took one month of token payments before the dmp kicked in.

It took a while for all the creditors to accept and it was a bit of a roller coaster for a while; you just need to keep paying them and ride the storm for a bit.

Good luck.

antonic

I did my DMP with Payplan, and the timescale went :

Sep 2005 Contacted Payplan
Oct 2005 had telephone interview and allocated plan number
Dec 2005 made first payment (didnt bother making interim payments).
Jun 2013 made last payment and became DF.

The important thing to remember is when you creditors contact you tell them you have started a DMP with Stepchange but dont have a number (yet).

When you do have a number, quote it , and tell them to speak to Stepchange.

Sazzie23

Galeeno wrote: »

so SC could accept the planed amount, )even if 3 out of 9 creditors don't accept it)

Monthly payments go out to SC by me, (even though 3/9 creditors have refused the amount)

But as the months go on, SC try to communicate with them 3 to get them to accept it?

Is that right?

What makes SC sure that if the 3 rejected companies don't accept the offer that they will accept it, as 2-3 months of payments have been met?


ie, how do SC persuade them companies to accept that monthly payment ?

Well you see, & this is the difficult bit to explain, but assuming you were honest in your budget, what else could you pay? So the option the creditors have would be to take you to court in order to gain judgements to reclaim the money, but as I say, if you have been honest in your budget to SC, the court is not likely to award any higher repayment to creditors than the SC decision. The theory is therefore that SC just keep paying the creditors even if they refuse, because by doing so it shows any court that you are serious about repaying, and are repaying as mush as you can, therefore the creditors are hopefully not going to take you to court, and if the did the payment wouldn't change.

Did that make sense? hope it helps, remember though the debt is still your debt & you need to keep tabs on balances and check if creditors are charging interest as SC will only request they freeze interest, if the creditors won't freeze, then you need to challenge them, but if you get to that stage come back and we'll help you through it. Its a steep learning curve, but you are well on the way & good luck with it