Default notices

Peters5468

Hi, I am starting to receive default notices. Please could someone advise me if I need to engage now with the original creditors or wait for the debt to be sold on? I am hoping to enter into a self-managed DMP. Thank you 

RAS

It's entirely up to you. Might be worth waiting a few months for the original creditors to decide if they will sell them on. If you receive nothing, pay them a small amount monthly.

Providing of course you've got a decent emergency fund under your belt.

sourcrates

The default notice gives you 14 days to rectify the breach to your account, or else a default may be added to your credit file.

Honestly, you need to wait until that default show on your file, give it a month or two, then see who writes to you.

Don`t rush things, nothing happens quickly in this game.