When to DMP?

curtain8765

Hi all,

Really sorry if I’m repeating on here but if I’m honest I’m not entirely sure how it all works on here yet! 

I’ve just had 2 letters from Lloyds to say they are closing my 2 accounts with them (load & credit card). I’ve stopped paying for 2 months now waiting on a default from these accounts, they’ve sent me another letter issuing the default and said it will be implied 2 months from the date of the letter (12th feb) unless I start paying or get in touch with them. 

So my question is, how do I know when they’ve actually defaulted? And when am I best to set up a DMP? 

Thank you, and again, apologies if I’ve repeated, very new to all of this. 

fatbelly

Keep an eye on your credit file. If they say it will default in 2 months, it probably will