About to start DMP

RAS

You initially say nothing, just stop paying, and stash the money you might have used into your emergency fund. You won't be getting credit, so you need something to fund new shoes, a car repair or rental deposit.

There will be calls, texts and possibly emails. You might want to reply once telling them all comms must be in writing. You do need to monitor letters because there are a few legally important ones.

The one that will scare you is a demand that you have to repay in FULL. It's actually good news because it is a legal requirement before the creditor can default the debt. Once you get the default letter, then set up a standing order and start paying them. Some will insist on a income and expenditure "because they want to make sure you can afford the payment". Ignore and set up the payment. 

stu12345_2

just to add if I didn't state it already
I found the sort code and account numbers of the creditor ( to do a standing order)on the back of how to pay in the regular monthly bill you get 

but if you leave it till it defaults etc  and you have binned those letters.you may to write to creditors asking for those numbers.( depending who your debt collection company is though)cos on their pay us  with a debt  repayment plan on their websites  you won't see any standing order details or method at all