New dmp

Er17fidge

Me again.

Dmp due to start and i finally told my husband and mum.

Mum offered to give sum of money so stepchange advised to ask the creditors if they would accept full and final settlement rather than drawn out small payments?

Creditors are creation finance, mbna, cahoot, littewoods and very.

Are any best to try? Or waisting time as so early on?

EssexHebridean

Can anyone with more knowledge than me on DMP's offer any help to this one please?

National_Debtline

Hi cathrob


First of all well done for telling your mum and husband, I'm sure that's a great weight of your shoulders. At this stage, if your mum is happy to help you out, you've nothing to lose by asking your creditors to accept a full and final settlement. If the alternative is to accept small payments over a long period of time, this could be an attractive option for them.


It's important to split the money you have available proportionally between your creditors. That way they'll each get an offer based on how much you owe them, which is the fairest way to deal with this. Always make sure you have written confirmation of what's been agreed before making the payment.


If Stepchange are already dealing with your DMP they may be willing to make the full & final offers on your behalf. If not, you can find a sample letter and how to work out your offer of payment here https://www.nationaldebtline.org/EW/factsheets/Pages/fullandfinalsettlementoffers/lumpsumoffers.aspx. Good luck with it all.


Susie
@natdebtline