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DMP and paying it off -Help
claudia123
Posts: 33 Forumite
Hi there I hope someone can give me advice. I currently owe 40k on my dmp which I have been paying for over 12 years. It started off at 80k
I .hopefully in a position now due to a private pension, to pay it all.off shortly, but does anyone have any experience in getting the credit card companies to accept half the amount owed or similar as I have always had letters saying if I can afford this much, u can save x amount .I am hoping they will as I don't have a massive amount to come
I .hopefully in a position now due to a private pension, to pay it all.off shortly, but does anyone have any experience in getting the credit card companies to accept half the amount owed or similar as I have always had letters saying if I can afford this much, u can save x amount .I am hoping they will as I don't have a massive amount to come
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Comments
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HI Claudia - well done for posting. Lots of people on here have succeeded in making offers and counter offers - some as low as 10-20%. I am sure someone will be along soon.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.8K Equity 36.37%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
(If took bigger lump sum = 60.35K or 47.6%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5K updated 10/10/250 -
Great thanks for that and hopefully someone will have the experience0
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If you have a look on the main debt free wannabe forum you'll find tips - how low to go in at etc. Good luck with it.1
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Thank you0
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