We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Can’t afford our DMP Payments
edeservebetter
Posts: 1 Newbie
Do you know you’ve really hit rock bottom when the topic of conversation in the car this afternoon with my husband was how neither one of us is allowed to do away with ourselves to escape the absolute financial mess we are in?
0
Comments
-
Hi this really needs moving to the DMP forum.
A DMP is an informal arrangement, so if you can't afford your payments, you need to contact your provider and ask them to reduce your payments.
Who is your DMP provider? Or are you self-managing?
And a few basics, do you own a house/mortgage? How much debt are you in, jointly, singly?
Meantime, please speak to Samaritans 116 123 if things are really getting to you, or another charity. And post back here.The person who has not made a mistake, has made nothing0 -
Can I just add that creditors will put a hold on your accounts if you are not able to afford the payments.
All you have to do is inform them, it`s usually a 3-month hiatus from payment, after which they will check up on your circumstance again, if nothing has changed, it`s rinse and re-peat, so no need to feel anything but positive.
If a debt solution is appropriate, then all well and good, if not, write off`s are not unheard of for those who have no hope of ever repaying.
I agree this should be on the DFW board and have asked the forum team to move it for you.
If you could give us a bit more detail, we will be able to offer good advice to you.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 -
Thread moved as suggestedOfficial MSE Forum Team member. Please use the 'report' button to alert us to problem posts, or email forumteam@moneysavingexpert.com1
-
A lot of us members, on here, know where you're coming from, give as many details as you're comfortable doing and many will be able to steer you through this.edeservebetter said:Do you know you’ve really hit rock bottom when the topic of conversation in the car this afternoon with my husband was how neither one of us is allowed to do away with ourselves to escape the absolute financial mess we are in?
You've had a 'lightbulb moment' and that is the right place to start getting yourself out of the situation.
@edeservebetter It's been 4 days since you posted, how are you doing ?0
Categories
- All Categories
- 345.8K Banking & Borrowing
- 251K Reduce Debt & Boost Income
- 450.9K Spending & Discounts
- 237.8K Work, Benefits & Business
- 612.7K Mortgages, Homes & Bills
- 174.3K Life & Family
- 251K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 15.1K Coronavirus Support Boards