DMP - continue payments to creditors until setup?

Gewakefie

sourcrates said:

The debt charities campaigned for breathing space, it was intended to be a 6 month hiatus from creditor contact, during that time no payments or collection activity was going to be allowed.

The Government wouldn`t have that, so we ended up with the watered down version we see now, utterly useless to man or beast, collection activity differs from the odd letter, to a call every day, but you can dictate to them how they are to contact you using the General Data Protection Regulations, or GDPR for short.

Tell your lenders how they are to contact you, and they must abide by it, only regulatory notices are unaffected by GDPR.

Hi sorry I know this post is quite old

i made the mistake of telling Monzo I’m talking to stepchange and Lowell (i have 9 creditors all together) these 2 applied breathing space should I not have done this? 

I’m a bit worried as I want to have like 6 months before I start it to save up a fund but won’t they add quite expensive fees on top of my debt because I’m ignoring them? 

Quite daunted by it all, also does anyone know how to see on credit karma your defaults? Can’t see a section anywhere 

sourcrates

Take as long as you like to save an emergency fund up, collection activity can be a very long drawn out process continuing for many months with letters and call`s etc, even years in some cases, nothing happens quickly in this game.

You cannot add fee`s to consumer credit debts as most credit agreements don`t allow it, interest will continue to be added until the account defaults, so the quicker it defaults, the less interest you will get.

If you click on the account on Credit Karma, it opens the entry, look at the debts status section, it will say either, open/closed/settled/AP/ defaulted etc etc.