About to begin DMP - hints and tips needed

TightTone

Hi all.

Waiting for the final paper work from Payplan for a DMP.

Up to date I have paid all creditors minimum payment and on time (but I have been robbing paul to pay peter). I decided enough was enough and contacted payplan.

I am very scared- wanted to do an IVA at first to avoid any court action or debt collectors calling at home as my mum is disabled and by herself when I am at work.

Anyhow Payplan say to try the DMP.

Should I contact all my creditors and tell them this is what I am doing?

What other helpful tips do you have for me?

Thanks

Sagaris

My OH wrote (well I did) to all his creditors explaining he was going on a DMP with CCCS, and gave them his case number. CCCS wrote to them too, after that all communication (eg threatening letters and phone calls) stopped, all we had to do was open a new bank account for him (a basic one with NatWest which has worked very well). The DMP money is paid into that monthly and goes out again to CCCS, nothing else happens with that account - really easy to keep check on. Apart from the yearly letter from CCCS to update his salary details and his DMP payments, we get no communication from anyone - it's great!
Good luck with yours.
PS When you write to them you could ask that if they have to communicate with you, you would appreciate letters only and will not answer phone calls? We have a caller display phone and didn't answer any numbers we didn't recognise while this was all going through. We also have withheld numbers barred too which helps a lot!