Started own DMP -Creditors slow to respond

Gaia2014

Hi all,

I need some advice please. I've just started my own DMP with thanks to CAB website. So far I've had two responses from my creditors. Both agreeing with my payment proposals.

I'm due to make payments at the end of April, but what shall I do if I haven't heard from all of the creditors by then. Shall I just send a payment anyway or wait for them to confirm that they are happy with my offer?

To be honest I would prefer to make the payment rather than run the risk of getting into arrears with the various DCA... Anybody else been in this situation?

Thank you G

National_Debtline

Hi

Unfortunately some companies are slow to respond and are not always great at communicating.

I recommend making the payments you've offered anyway as it shows good-will. In fact, make the payments you know you can afford even if the creditors don't agree. Don't be pressured into paying more than you can realistically afford.

James
@natdebtline

Gaia2014

Thank you. I will do that. I assume sending a cheque will suffice in the first month until all of the offers have been accepted? A bit tedious, but preferable to call of my creditors. I prefer to do everything in writing.

dancingfairy

I suspect you will be in for a loooong wait if you wait for your creditors to accept your proposal. Some will immediately, some will eventually, some will never formally accept your offer but are quite happy not to bother you and just accept the money and a few get stroppy.
Frankly there isn't much to agree on. You have x amount of money to be shared around, they either take it or leave it. There is no negotiation, you only have what you have.
I'd make the payments by internet banking or standing order and get on with your life.
It would be nice and polite if the creditors communicated with you, but this doesn't always happen, and frankly sometimes them not communicating with you and not hassling you is better
Unfortunately you have no control over what the creditors say/do but you can stick to your plan and show them you mean what you say.
df

National_Debtline

Yes, a cheque should be fine and easier to send for your initial payment if you're having communication issues.

James
@natdebtline

Gaia2014

Thanks dancing fairy. I just want to pay these things off as quickly as possible. Each of my creditors will actually be getting a bit more than they were on my previous DMP so hopefully they will be happy. I aim to be debt free by next Summer and I've demonstrated that in my SOA. So, fingers crossed, this is the final hurdle :T.

dancingfairy

Good stuff, I can't see them causing you any hassle then. Roll on your debt free date.
df