Quick question re: DMP


Just a quick question as I am at work. Following advice decided against even looking at a loan.

My question is, is it better for me to try and contact my creditors myself and speak to them regards payments and try and arrange a payment plan with them or is a DMP more appropriate as a debt advisor has more experience ?

Sorry if this is a dumb question


  • UncannyScotUncannyScot Forumite
    2.1K Posts
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    Not a dumb question at all. Some folks do self manage a DMP and others use the likes of StepChange to deal with their DMP.
    I suppose it may depend on how confident / able a person is in handling or dealing with creditors.

    If you haven't already done so I would seek FREE advice from the likes of StepChange or your local CAB Money advice team. There are other options available other than a DMP and they would help you to find and explore these options.
    Hope that helps and good luck.
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
  • beanieloubeanielou Forumite
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    Can only echo what UncannyScot says :)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
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    MFW. Finally mortgage free February 2021****
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