Confused over whether to do IVA or DMP

BrightLights14

Good luck Mum2emily - and please don't worry. I wrote to all my creditors once I'd decided on the DMP route to tell them what was happening, and I don't remember receiving a single call. It definitely won't be as bad as you're expecting.

Well done on taking control! x

sourcrates

Mum2emily wrote: »

Thank you, I just hope my creditors are understanding-it seems from the DMP support thread most are so fingers crossed.

You don't have to have understanding creditors, it's not there place to understand your situation or not, they make business decisions, they have procedures to follow for people who can't pay, they will just swing that procedure into action, that's it.

Of course it helps if you write and explain yourself, ask for interest and charges to be stopped etc.

You can't think of your creditors as you would a friend or family member, they are a business, and will make business decisions, but they must treat you fairly.

As I said, it's a well worn path.

fatbelly

sourcrates wrote: »

You don't have to have understanding creditors, it's not there place to understand your situation or not, they make business decisions, they have procedures to follow for people who can't pay, they will just swing that procedure into action, that's it.

Of course it helps if you write and explain yourself, ask for interest and charges to be stopped etc.

You can't think of your creditors as you would a friend or family member, they are a business, and will make business decisions, but they must treat you fairly.

As I said, it's a well worn path.

Exactly right.

And those who are slow to fall into line, you nag them until they do.