Taking control from DMC

MovingForwards

Having posted the other day about me dealing with my own DMP and not paying the DMC to do it for me I spent a while nosing round my DMP, figures, monthly payments and the payment taken by the DMC (nearly a quarter of my monthly payment!)

I happened to look at how much money has been paid to the DMC since this company took over from the one that went belly up (I think they just changed names as I was never given any different bank details) and checking how much is outstanding.

Believe me when I say I got angry and also could have cried at looking at the figures. Only about 6k has got paid off in about 5 years.

I have a CCJ because of the DMC failing to deal with it and failing to pay the creditor which led to them taking action against me; I know I told them about it and included it in the debt details.

Anyhow, I digress.

Nearly 20k has been paid to them, just over 19k is outstanding. Just goes to show how much I have paid them the debts would neaarly have been cleared if I did it myself.

Again, I digress.

So, I will be firing an email off tomorrow asking them for details of the amount outstanding, to which creditor, requesting account numbers and confirmation as to the name for each debt (mine/my ex). I do have the creditors contact details, account numbers and bank details.

Gona snowball the debts as it is good to pick them off and see them vanish. Already planned which two are going this month then saving for 3 months to get the CCJ paid off; whilst maintaining payments to the creditors.

:j

National_Debtline

Hi there,


First of all, well done for how much you have paid off, and for now looking to take on the debts yourself and make your money work for you. Doing either a free DMP or self negotiation will help you repay the most off the debts (month to month), and stop losing money in unnecessary DMP fees. Cancelling the DMP in writing is also the right thing to do.


When it comes to approaching the debts yourself, it is important to do a new SOA. Check what you can afford to pay and ensure that you share your full surplus proportionally between the debts each month. As long as you maintain the payments set by the court, they cannot take any further action, and if the CCJ is already more than 1 month old it will remain on your file for 6 years anyway; so clearing that quicker than the rest won't make much difference.


In fact, you need to be careful about paying your debts unfairly. By saving lump sums and clearing some of the debts quicker than others, it could be deemed as a preference issue. And the debts that receive the smaller payments may refuse to negotiate with you, and even become more aggressive in taking court action.


You can post a SOA if that would help. Best of luck,


Laura
@natdebtline