One debt default, waiting for others advice

18 Posts

Hi there,
I just wanted some advice as waiting to begin my DMP as a few advised to wait until all creditors defaulted. I’ve had my default from my start up loan (personal) through today after 3 missed payments but still waiting on 3 credit cards to default which I feel could take a while.
I just wanted some advice as waiting to begin my DMP as a few advised to wait until all creditors defaulted. I’ve had my default from my start up loan (personal) through today after 3 missed payments but still waiting on 3 credit cards to default which I feel could take a while.
The loan have mentioned the usual things like passing on the debt and also court (I feel this is scare tactics?) but I wanted to ask if it’s wise to keep waiting until all debts default or if now is the time to tell them all I can’t pay so will be going on a DMP?
I had already started getting one together with step change but not yet finalised it (as will need to adjust amounts etc)
Thanks 😊
Thanks 😊
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As each card defaults do the same for them, and when you have a full set you contact Stepchange (or whichever charity you are using) and start the DMP
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