DMP Company ceased trading, advice please

horse

Had DMP in place for about 8 years, was happy with it, paying 125 a month, 25 of that a fee, rest to (4) creditors

company taken over by spivs, they were constantly ringing and texting me trying to change my plan, chase up ppi etc

they have now ceased trading, i only found out when one of creditors wrote to tell me

What now? go with other company or contact all creditors individually?

are they likely to accept same amount as i was paying them

any advice please

Thanks

fatbelly

Do it yourself - you're well rid of the leaches.

8+ years is a long time for a dmp - hopefully you're near the end now.

National Debtline has tools to help

https://www.nationaldebtline.org/EW/Pages/default.aspx

sourcrates

Echo the above.

Make sure you cancel any direct payment you have to them.

Can you post a few more details about your current debts ?

National_Debtline

Hi

I agree with fatbelly that you are better off without that company anyway. You can use our website as suggested or you could try Stepchange as an alternative DMP provider as they wouldn’t charge you a fee.

James
@natdebline

Sazzie23

Hi Horse

Sorry to hear this, I'd suggest you go self managed, no reason creditors wouldn't accept your current payment.

Start off though by contacting them all, explaining the situation and asking for an up to date statement to see exactly what has and hasn't been paid.

If you've lost money due to the company then I'd also contact financial ombudsman with complaint.

Please do come over to the DMP mutual support thread, we like company and don't judge. It's for self managed, or those with DMPs by any provider (I'm with SC, but there's a variety on the thread).

Saz

fermi

Sorry to hear that, and I would echo the suggestions already given.

Can you tell us the company name?

horse

Belmont Financial, I was called by them all the time trying to sell me other stuff, texts all the time and PPI calls etc, brought back the dark times of when I was in this mess all those years ago