Reducing my dmp payment

second_chance · 25 September 2015 at 3:09PM

Hi all...I've recently started a dmp my payment was £316 a month I've only paid one payment.... I realised my gas/electric dd had increased so I phoned to change my budget... they have reduced my payment to £260... Now I'm worried sick... All creditors had agreed to the plan and as I'm only a month in what will happen now? Sorry to ramble... Feel sick

HaydenB · 25 September 2015 at 3:49PM

First of all...stop worrying. I have always found my creditors to be reasonable and understanding and I owed more than what you do (and paid less a month that what you do). Personally I dont think there will be any issue.

second_chance · 25 September 2015 at 3:55PM

Thankyou very much... Just felt it was sorted and now ive messed it up already !
Hope you are well on your way to getting to where you want to be x

HaydenB · 25 September 2015 at 4:09PM

Will be debt free when I sell my house which is going through the process at the moment. But then will be maxed up to the hilt with a new house purchase

second_chance · 25 September 2015 at 4:17PM

&#55357;&#56397;&#55357;&#56841;good luck with the move! X

sourcrates · 25 September 2015 at 4:30PM

Hi,
Theses no need to be worried, if a creditor is unhappy with what your paying them, they will simply sell on the debt.
You would then continue paying the new owner.

You may find your accounts get sold on once, twice, or more, for various reasons, it's just how the system works.
Nothing at all to worry about.

GlasweJen · 25 September 2015 at 4:30PM

Don't worry about it, I set up a DMP through stepchange for one of my friends, her head was well and truly in the sand and her SOA was way off even though we'd sat with her bank statements when we filled in the online questionaire.

Her payment was changed about 4 times in the first 6 months because she'd forgot stuff, her boiler broke and things like that. It's settled and her payment only really changes at her review.

She had massive debts and her dfd isn't until 2020 so I'm sure you'll be fine with one adjustment.

second_chance · 25 September 2015 at 4:37PM

Thanks everyone xx

dobbollah · 25 September 2015 at 9:55PM

as above, a few years back we halved our dmp and then slowly built it back up...once in the place the creditors seem happy to just getting something

Reducing my dmp payment

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