Help going from Managed to Self Managed DMP

Changingtimes

Evening all.
After some advice again if possible.
I went into DMP in Jan 19 with SC. I managed from then until now to get my debt down from circa £22k to now little over £10k. Recently I have been considering taking control myself and going self managed. Couple of reasons :
1. One of my larger creditors agreed £200 per month but their being paid £243 whilst my smaller creditor is receiving less than £5. I don't understand their method if they paid 3 x £43 to the smaller creditor they would be cleared and one less so to speak.
2. They are becoming difficult to contact. I appreciate they are very busy but in the limited time in office hours I have this is proving difficult and frustrating.

I feel I know how it all works now to go it self managed but what I am needing here is a pointer on perhaps a standard letter anywhere telling my creditors my plans and advising them when i plan on paying them etc. Also from requesting their agreement to payments, receiving their payment details etc how long the transfer process would usually take. I have 10 creditors narrowed to 6 as 2 DCA have 2 accounts each.
Any advice you could offer would be appreciated.

sourcrates

Well only you know your plans, send something like :

Dear creditor,

After 12 months working with stepchange, I now intend to self manage my DMP, please confirm by return your payment details so I can pay you.
Your monthly payment will be xxxx paid on the xxxx of each month, starting on xxxxxx.

Please continue to suspend interest and charges as it helps me pay down my debt quicker.

Yours sincerely

Changing times

That’s all you need.

leninspot

Hi - not 'advice' as such but just to say I started doing my own DMP (formerly with PayPlan) over a year ago. It's been straightforward & I'm glad I did it. Makes me feel more in control. Good luck.

jbkmum

I wrote or emailed to my creditors, told them I was doing it myself and that I'd be paying them £1 a month. Since then I've been tackling the smallest debts one by one. I've closed down two accounts and am now working on the next one. 
Its pretty simple, honestly just tell them what you want to pay and when and then do it.

ferry

Sorry didn't want to start a new thread but was just curious if communication carries more weight if from an official debt handler like SC?

Willing2Learn

ferry said:

Sorry didn't want to start a new thread but was just curious if communication carries more weight if from an official debt handler like SC?

If all (written) correspondence is consistent with the applicable legislation, regulations and guidance, then they all will be equal...

Changingtimes

I am so angry. I switched to a SM DMP as from 18th Feb. All creditors so far been a good and accepted offers generated by NEDCAB site. Apart from 1 and I am at my whits end what to do with them. Offer made they wanted bank statements.  Told them I lawfully dont have to send . They basically told me I have to match the payment of SC. Advised Them impossible and to recheck the I&E I sent them. We are pretty much at a stand off.....they said they will accept £70 extra on top of my offer with no further action. If not they they will place me in arrears and further action might be taken. Told them I dont take the threats lightly! I tested them ....I said ok I will ask family to help me with the extra £70 on top of my offer or loan it. They said that would be ok and to let them know......surely that's against OFT guidelines? They didn't say dont go loaning the money from elsewhere shouldn't be done etc.....Turned to this company when I was in desperate time....and now I am seeing the light I would never deal with a company like this again. Sorry for long post

Willing2Learn

What method are using to communicate with this creditor?  If you stick to the offer you have made via the auto-generated NEDCAB letters, then all should be good to go.  Just stick to the exact payment schedule that you offered in the letter.

Changingtimes

Email is the only contact as I informed them a while ago (whilst in my SC DMP) to stop harrassing me! as they called making sure i was making the SC payments etc. since then all communication has been email...........

Willing2Learn

Just make the payments according the schedule specified in your auto-generated NEDCAB letter.  Then everything should run smoothly.

Changingtimes

They said they wont refuse the payment (well who would) but wont agree it until i send bank statements,   their threat is they will will put my account into arrears and take further action if I dont pay their amount. So far they have not put any negative marks on my credit report. Another default wont matter as I got 5 there anyway since starting my DMP ......anyway i agree I am going to make the payment offered this month and see what they do about it! Wouldnt mind but on a £3000 loan I have already paid £8000 with the final bit to go -  I am so glad I had my light bulb moment and now out of the downwards spiral.
Thanks Willing