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DMP Help!!
DMP_Newbie_91
Posts: 4 Newbie
Hey Everyone -- Newbie here!
Looking for some advice on my DMP of anyone would be so kind to help!
Entered into a DMP with StepChange back in Jan/Feb time. Total debts around £27,000 and currently paying back £716 each month. So far so good!
In order to get rid of this debt ASAP I've picked up some extra work part time and am able to save along side my regular incomings.
My question is - am I better giving this money to StepChange on a monthly basis? Or would I be better saving up till the end of the year and pay a bigger sum? Or shall I wait till I'm almost near the end of my DMP and use the money to settle earlier?
Not really sure what is the best option and just want to do what will be more beneficial and get the debt paid off quicker!
Thanks in advance!
Looking for some advice on my DMP of anyone would be so kind to help!
Entered into a DMP with StepChange back in Jan/Feb time. Total debts around £27,000 and currently paying back £716 each month. So far so good!
In order to get rid of this debt ASAP I've picked up some extra work part time and am able to save along side my regular incomings.
My question is - am I better giving this money to StepChange on a monthly basis? Or would I be better saving up till the end of the year and pay a bigger sum? Or shall I wait till I'm almost near the end of my DMP and use the money to settle earlier?
Not really sure what is the best option and just want to do what will be more beneficial and get the debt paid off quicker!
Thanks in advance!
0
Comments
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Save and settle when you can, for the best deal you can, that should be your goal.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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