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Redundancy & DMP?
La_Tristesse_Durera
Posts: 290 Forumite
Hi Guys,
I'm being made redundant at the end of the month (very scary thought), and I'm currently in a DMP with Payplan. I have been in my DMP for about a year now, and never missed a payment so I think it's going ok.
The thing is I haven't got another job lined up yet (I've had some interviews so fingers crossed). The problem is when I leave my job I might go 4,5,6 weeks without getting paid.
Has anyone been in this situation before? Will I be able to take a month off paying, or reduce my payments for two months? Any help will be welcome - thanks
I'm being made redundant at the end of the month (very scary thought), and I'm currently in a DMP with Payplan. I have been in my DMP for about a year now, and never missed a payment so I think it's going ok.
The thing is I haven't got another job lined up yet (I've had some interviews so fingers crossed). The problem is when I leave my job I might go 4,5,6 weeks without getting paid.
Has anyone been in this situation before? Will I be able to take a month off paying, or reduce my payments for two months? Any help will be welcome - thanks
£2 Coin Savings = £0.23
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Comments
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Speak to payplan, they know what is or isn't possible. Hope you find a job soon good luck:)Barclaycard 3800
Nothing to do but hibernate till spring
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Cheers, I've tried calling them but they seem to be really busy this morning
Has anyone else had this experience?
£2 Coin Savings = £0.230 -
I should imagine with change of circumstances you will have to contact them and offer lower payments as you have no idea how long out of work you would be. That is what I would do on my DMP but mine is self managed I would explain in the payment offer letters what has happened.0
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Sorry to hear about your redundancy. Will you get redundancy money?
Obviously if you could get a job quickly you will be ok, but as you say, you don't know how long this could take. Keep trying to get through to Payplan. I'm sure this must happen all the time so they will know exactly how to handle it. They will probably suggest temporary reduced payments till you find a new job.Finally Debt Free After 34 Years, But Still Need to Live Frugally
Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS0 -
If you can email them on their site too. Choose the Urgent call back option. Good Luck with gettin a new job !0
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