Quick question regarding DMP's and defaults...

SmoggyTalisman

Hi all,

I've not been on here in a long time but just came on now and want to query a few things I've briefly seen in these threads in this section.

I am on a DMP currently and have received default notice letters from 2 of the 5 debtors. Stepchange said not to worry etc. and to carry on paying the DMP.

However, I've just seen a thread on here where someone had said it's best (probably not ethically) but best to keep the money in your pocket rather than pay off a defaulted debt unless the creditor agrees to remove the default upon the debt being settled (very unlikely they will do so)

So where do I stand here? Is it best for me to just not pay the ones that have defaulted or keep paying the dmp to pay it off?

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The dmp was definitely my best option and I'm happy now that everything is returning to normal for me

Thanks in advance

Smog

Tixy

I would keep paying in a dmp.

Stopping paying could lead to creditors taking court action
On a dmp defaults are pretty much inevitable and are fair.

SmoggyTalisman

Thank you Tixy, I assumed that would be best but just wanted some opinions as I had seen conflicting messages on other threads

Thrugelmir

SmoggyTalisman wrote: »

but best to keep the money in your pocket rather than pay off a defaulted debt unless the creditor agrees to remove the default

What do you hope to achieve by taking such a course of action? Companies can maintain their own black lists for as long as they like. Why would they wish to trade with you again in the future? If you wish to repair your personal reputation best option is to play the game within the rules. Clearing the DMP as quickly as possible as well. There's no such thing as a free lunch.

SmoggyTalisman

I didn't hope to achieve anything and plus with the lenders I owe money to, there is no way I ever hope to be needing them again haha!

I was just curious that's all