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DMP and Next Steps
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Arnoldpeters
Posts: 1 Newbie
Hi All,
Just looking for some advice, I`m currently on a debt management plan which started around 2009. I still currently owe around £7000 across 3 creditors. I finally got around to checking my credit file and it has no history of these debts.
I have a little bit of money around £2000 from an inheritance and would like to make an offer to these companies to pay off what I can. What would be my best next steps, are these debts still enforceable as I`m currently paying minimum amounts on a DMP? Would I have to go via my DMP or can I contact the companies direct.
My credit score is fairly poor but that seems to be as I now no longer have a credit history as never got any more credit in the last 10 years.
Thanks for reading
Just looking for some advice, I`m currently on a debt management plan which started around 2009. I still currently owe around £7000 across 3 creditors. I finally got around to checking my credit file and it has no history of these debts.
I have a little bit of money around £2000 from an inheritance and would like to make an offer to these companies to pay off what I can. What would be my best next steps, are these debts still enforceable as I`m currently paying minimum amounts on a DMP? Would I have to go via my DMP or can I contact the companies direct.
My credit score is fairly poor but that seems to be as I now no longer have a credit history as never got any more credit in the last 10 years.
Thanks for reading
0
Comments
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Hi,
Your best chance of a good settlement is if the debts are old, and been sold on a few times, it’s absolutely something you should do yourself.
National debt line have an excellent template letter for this purpose:
https://www.nationaldebtline.org/EW/sampleletters/Pages/Full-and-final-settlement-offers-%28sole-name%29.aspx
Start low, you can always increase your offer.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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