dmp but catalogue returns left

jemharrison

Hi just starting a debt management plan but i have £900 to return to my catalogue account, y understanding is the dmp company pays everything off, so in theory ill be left with a credit in an account i cant use as its been cleared off and got rid of. Help

Willing2Learn

Hi jemharrison and welcome to the forum

I don't understand what you are trying to say. I'm not even sure there is question in there. Please could you re-post with your query, being as clear as possible. Thanks

And if you are saying you have a 'dmp company' that pays everything off, is it a free debt counselling service? Or are you paying for their service?

sourcrates

Don’t understand your question or what you are saying to be honest, can you clarify please.

D_M_E

Sounds like jemharrison has an account with a catalogue which is £900 in debit and now has either the £900 to pay into the catalogue account, or has £900 worth of goods to return.

As a DMP is starting - hopefully with one of the free providers such as Stepchange for example - jemharrison is worried that, once payments start from the DMP, some of the payment money will be sent to the catalogue account thus putting it in credit, after the £900 has been paid over.

If the £900 HAS to be given to the catalogue and it will clear the account then best to close the account and tell your DMP provider the account has been closed.

jemharrison

a debt managemant plan is being set up on wednesday, but i still have things i have ordered from the catalogue store to return, £900 worth, the debt management company just pays all the debts then i pay them, but when these things get returned and credited on my catalogue account where does the money go? as the account will of been closed and shut, and i dont want to end up paying the debt management company £900 extra for things i havent got.

sourcrates

jemharrison wrote: »

a debt managemant plan is being set up on wednesday, but i still have things i have ordered from the catalogue store to return, £900 worth, the debt management company just pays all the debts then i pay them, but when these things get returned and credited on my catalogue account where does the money go? as the account will of been closed and shut, and i dont want to end up paying the debt management company £900 extra for things i havent got.

So that begs the question why have you set up a DMP ?

And who with ?

You seem to be doing things in the wrong order.

Your understanding of a DMP seems flawed to me, that is not how it works.

What other debts do you have, simply return the goods to clear your account, then you don’t need to pay them anything do you.

theoretica

Will you still owe money on that account after you have returned those goods? Just tell the DMP people about it and that they will need to get a new balance for that account.

tallyhoh

As Sourcrates states, thats not how a DMP works.

Who have you set it up with as I fear they may have misled you. Are you paying them a fee?

TriggerHappy

Hiya,

Be VERY(?) careful here.

If you have not yet set your DMP up, return those goods first or they may not accept them back and you'll be lumbered with stuff you don't want.

I'm guessing the catalogue is Very? If it is, keep them in the dark about your plans until they're implemented as they're right sods once you enter a DMP.

You've also got the DMP payments the wrong way around, you make a payment to the company (please say it's a debt charity which is doing it for free, if not then change ASP) and then the DMP company usually distributes your payment based on %age of debt owed to your creditors.

Good luck!