DMP help please

HelpNeeded1947

Thanks sourcrates.

I will email/send letter to all the creditors and ask if they will consider writing the debt off. I suppose going on an online chat to them would be pretty pointless? Are there any templates you can recommend to send to them?

I will Google the DRO you mentioned to find out more about this as well.

If I stopped paying and bury my head in the sand and become an ostrich, what's the worst thing that can happen? Defaults.... A mountain of letters, endless phonecalls? 

sourcrates

HelpNeeded1947 said:

Thanks sourcrates.


If I stopped paying and bury my head in the sand and become an ostrich, what's the worst thing that can happen? Defaults.... A mountain of letters, endless phonecalls? 

Pretty much all of that, yes.

Creditors could also go for legal action, much further down the line, but CCJ`s for consumer debt are very rarely enforced, plus a simple letter can put an end to it by telling them you can`t afford payments, they won`t waste money on accounts where affordability is in question, it`s key to everything debt related these days.

You could, in theory, quite easily while away your days and not really worry about these debts again, just telling them it`s unaffordable to you would suffice, and there would be very little point in them doing anything about it to be honest.

It`s not a strategy I would heartily recommend, but at your time of life if you can deal with the collection activity then the choice is yours really.