My DMP journey has begun

jones98746

After weeks of worry, I have done it - stopped all payments to start my DMP.

I don't feel calm as such, but I feel I have more of a plan. I'm scared about creditors visiting my property, being hounded, doing this all by myself and not using a debt management company, but I know I can come back here for advice.

My basic bank account card came today, so I have moved all my necessary direct debits over to my new account, updated my employment pay and child benefit to go into my new account, and now I am waiting for the default letters and building up a savings pot for emergencies.

When I receive a default letter, is there a template I should use to send to the creditor, also do I send via email or snail mail? 


Thank you.

sourcrates

Hundreds of thousands of credit agreements are defaulted on annually, do you really think debt collectors could visit them all? of course not, only a few collection companies use doorstep collectors anyway, and they have the same powers as the postman/woman does, which is none basically, except the ability to post letters.

By far the vast majority work out of call centres and are mainly school leavers on their first jobs, very scary huh!!

Once your accounts default, you wait until you are written too again, because debts are sold/assigned or in some cases just left delinquent, if someone wants money from you, they will write to you.

Grumpelstiltskin

Don't panic into paying any money to your creditors too soon.

Defaults won't all come at the same time, some will be quick others will take months to come.

When you do receive the first default and you are happy it is correct you need to work out the total amount you can afford to pay your creditors and make a pro rata payment to the creditor, you don't get involved with what they might want you to pay you pay what you are happy with.

WibnleWobnle

Can I ask if

sourcrates

WibnleWobnle said:

Can I ask if

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