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Need some advice please.

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JKC1989
JKC1989 Posts: 4 Newbie
Second Anniversary First Post
in IVA & DRO
I recently spoke to a debt company who have arranged to send out a DRO pack to me so I can sort out my debts.
I explained that this month I wouldn't be able to afford the repayments and they suggested I speak to the creditors. I did this but the creditors have said they wont accept not receiving money until the DRO is in place. Can I cancel my direct debits now as I cant pay or wait until DRO?

Comments

  • Craig1981
    Craig1981 Posts: 769 Forumite
    Third Anniversary
    probably best not to pay anyone you owe money to, unless all equal token amounts. you do not want to be seen as being more favourable to one lender than another
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    JKC1989 wrote: »
    I did this but the creditors have said they wont accept not receiving money until the DRO is in place. Can I cancel my direct debits now as I cant pay or wait until DRO?

    The don't really have a choice - cancel everything at your bank, let them know you have and say you intend to make manual £1 payments to all until you have finalized the DRO.

    Keep the money you would of paid them aside.
  • fatbelly
    fatbelly Posts: 22,917 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    I wouldn't even pay them a quid.

    Don't see the point.
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