Am I making this up?

User_060921

Forgive me if this is a daft question.

I have 8 accounts on my DMP.

One has just been paid off after they accepted an offer which equated to 20 per cent of the balance.

The others are playing hardball to say the least.

Did i read it somewhere that I really need to pay off the debt which relates to my old over draft, in terms of companies look to enforce those debts somewhat or am i completely making it up?

Does an old over draft debt simply get dealt with the same as a credit card/personal loan?

The reason i ask is, my old overdraft is by far the lowest account i owe money to and I wonder if i should prioritise paying this off in any way.


Thanks in advance.

bargainbetty

If you are already on a DMP and the interest rates are frozen etc, then no, there is no purpose to settling one over another unless you are getting a significant discount on the debt and having it marked as 'full and final' so they can't come after you for more. 

Good luck x

sourcrates

All unsecured borrowing is non essential, and no matter what the debt may relate to, a credit card, loan, bank account, store card, whatever, they are all simple contract debts and all treated exactly the same.

Unless you self manage, you may find stepchange won`t sanction prioritising one creditor over another, however as this is an informal arrangement, once done, its done right.

rjbear

Agree with the other posters. Just make sure you're 100% happy with whatever decision you make

User_060921

I’ve made offers to all accounts. They are all of an equal percentage.

two have accepted it, 6 haven’t.

i am not treating any of them differently.