Paying off my creditors

naimismynaim

Hi to all,

I hope someone could help me out on this one please?

Two years ago I my wife and I had to go into a DMP with £21000 of debts. Now we owe around £17700 and we now have some funds to repay most of our debts. The thing is we are still in our DMP and the company we are using tell me they will contact our creditors and get back to us soon. This sounds ok but I'm scared we may have to pay back loads of interest which we had frozen during the last two years.

I've never been in this situation before so I don't know what will happen now.

Some of our debts are credit & Store cards with a personal loan in there too. We owe around £9500 on the loan and the rest on cards.

I was thinking of paying off all the cards and just go back to nor,Al payments on the personal loan. Sounds like a good plan but is it possible I could actually do this and hopefully my credit score will return to normal after a few months.

Thanks In Advance for any advice..

chevalier

quick reply. is it a firm where you pay a monthly fee? if so then it is not in their interest to hurry. nextshould offer each creditor a portion of the money so you are treating all creditors the same.Also your credit score won't return to. normal any time soon. I would check your credit file. you will almost certainly find that your credit ors have registered default s against you, and they affect your credit score for 6 years from the date of registration.

for an impartial opinion, I suggest you talk to one of the free dect charities eg pay plan or cccs
chev