DMP- Going it alone??

Shellj77

Hi all,

This is my first post here, so please be kind!

I have an ongoing debt management plan with pay plan, which I have had for the past few years. I have been fortunate enough that my creditors have been very understanding and accepted any payments proposed to them.
Today I received the obligatory 'its time to review your plan' email from pay plan which got me thinking whether I need to keep going through them or if I could contact the companies directly myself. I understand they still need income and expenditure details along with payment proposals which I am happy to do as I already have those details. As I already have payment plans in place I assume its just a matter of renewing them and changing my payments to go direct to them as opposed via pay plan.

Does anyone organise and manage their own DMP?? Advice appreciated.

TIA
Michelle

National_Debtline

Hi

Self negotiating with your creditors is perfectly viable and lots of people do it. In your case it should be simple as you already have established payments, although your creditors will probably request an update on your finances every now and then. There are sample letters and a budget template on our website you can use.

www.nationaldebtline.org/EW/sampleletters/Pages/default.aspx

James
@natdebtline