Advice and exeperience on self managed DMP

Timetochange1989

Good evening!
This is my 1st time posting and i welcome any advice and assistance you have..
I have been in contact with payplan re mine and my husbands debts and they have given us 3 options

• Self managed debt management
• IVA (seperate)
• me DRO and husband iva
  Bankrupcy
  
  The lovely lady has advised that she would recommend the self managed dmp.
  
  We owe £14000 and have between us around £650 (we have done a spending log and have been spending more money than needed, we understand we need to make cutbacks and our budget has done exactly that) disposable income that can go towards our debts. My husband is the sole earner. I have 2x children under 3.
  
  Please could you advise of how your creditors responded to a self managed dmp? Any tip? Just really anything
  
  Thanks in advance.

fatbelly

Lots of people here are on self-managed dmps. Try this thread:

https://forums.moneysavingexpert.com/discussion/5623951/dmp-mutual-support-thread-part-12

How long would yours take to clear the 14k?

How much of the 14k is in your name alone and could potentially be dealt with by a DRO?

Timetochange1989

Thanks for the reply! It will takr around 19months to clear. Thats why i didnt think an iva was the righy option.
My total debt is £3242. Most of it in the husbands name, i got made redundant just after my husband set up his business times were difficult we paid our home bills but everything else went to pot, his largest debt was the car reposession we owe £6547.

Thanks again!!