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Jumpy_Bunny

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sourcrates

Hi,

Difficult situation, so I'll just give you the facts, and then you can decide how to proceed.

Firstly a DMP is a voluntary unregulated agreement between you and your creditors, so there are no rules, you can cancel the arrangement at any time, I think these fee charging companies require 28 days notice or similar, there should be no exit fee, if they attempt to charge one, refuse to pay it, as it is unenforceable.

Are all the debts in one name or both ?

Only the named person is liable, no one else.

If the named debtor were to pass away, and there was not sufficient funds in there estate to pay all liabilities, then the debts would simply be written off.

Unsecured credit debts would be the last thing to be paid, funeral costs and virtually anything else comes before unsecured debt.

DawnW

Genuine question, as the couple own their house, is it not an issue that a charge may be put on the property if one of the co-owners dies and there is not enough elsewhere in the estate to pay off the debts??

takman

Jumpy_Bunny wrote: »

A couple both have their own individual DMP with a company who takes a fee. Up until recently I was not aware of their financial situation and I am trying to sort many things out for them in terms of benefits, bills etc.

Of course I know about StepChange and them doing DMP's for no charge and it would be much better if one of these people could transfer their debt over to them, so all of the monthly payment is going to the creditors.

Whilst I have got the company dealing with the debt talking to me, I've been given permission to deal with both individual accounts, I am not really aware about how DMP's work.

One half of the couple is terminally ill, a worry for the other half is will the debts die when they do. Sounds morbid I know, but from what I see there is no will / savings etc. They do live in and own their home which is mortgage free and it is unlikely the living partner will want to sell and move.

Can anyone advise what might happen when one of the debtors dies?

I am keen to move the other DMP to StepChange, but I am scared to ask if this company will charge a fee for doing so! I am working with very little paperwork, such as original agreements etc. although conversations had with the person dealing with their DMP's have been good, currently they are trying to obtain / review income / outgoings and applying some pressure for both people to provide these, as you might imagine it is a trying time right now for both people.

Apart from a list of where the payments are going, I have no idea what the debts are for, possible credit cards, catalogues etc.

It's currently a difficult subject to deal with, even more so given the current circumstances.

Remember: Once you post something online it can never be removed!

EssexHebridean

takman wrote: »

Remember: Once you post something online it can never be removed!

But, if the OP has removed something, it may be because there is a genuine reason for doing it - so going ahead and re-posting it back into the thread may not always be helpful...

[Deleted User]

Very helpful. Why would you do that?

EssexHebridean

Missu wrote: »

Very helpful. Why would you do that?

People do that for a variety of reasons - sometimes it can be because a post was removed in a fit of pique and leave the remainder of the thread in disarray - not the case here. Sometimes it can be because something has been said that was out of line, and inappropriate, and it is done in order to make sure that others can see what in a deleted post was being objected to. Again though that's not the case here. Those are both "reasonable" reasons for re-posting something on someone elses behalf.

ReadingTim

Missu wrote: »

Very helpful. Why would you do that?

Some people think that just because *their* question has been answered, they can delete it, not realising that it could be useful to others who may be in a similar situation.

It's actually quite a selfish attitude, and rather against the spirit of such boards, hence is regarded as quite bad form.

sourcrates

Nothing inappropriate was said to my knowledge.

Hope the advice given was at least helpful.