Advice needed please

ManyWays

There is no point in leaving it out of the DMP; treat them all the same. You literally want them all to default as soon as possible, so why delay for one? 

kimwp

Icecold49 said:

What should i do about the likes of the barclaycard. It is on 0% interest until late 2027 and the suggested payment on the DMP is higher than the actual minimum payment i’ve been paying every month. Could i keep it out of the DMP for now and just keep paying it as i have been doing? 

If you default when the 0% interest rate ends, it will stay on your credit record for six months from then. It sounds though, that you need to never touch credit again, so it may not matter.

To answer your previous question, the usual approach with income increases in a dmp is to save that money for the full and final offers.

RAS

You've already realised what happened when the other 0% deals ended? What makes you think Barclaycard will be different? Keep paying it and delay the default date, to what end?

Stop paying all consumer debt. Save up your £600 per month and get a good car fund sorted out.

Hopes are that by time the first defaults are issued and the first providers send details of your reference number and the account code, you've got enough saved in an ISA to buy a new car.

Then save into a general emergency fund whilst the rest default, to cover stuff like another contract ending or perhaps allow you to accept a decent discount offer on a few accounts. 

Equal treatment of creditors isn't a legal requirement of DMPs, although debt charities have often undertaken to do that.

As fatbelly says, it might be worth clearing that Post Office account to make life easier? And once the car fund is in place, consider putting extra to cap one then Tesco, just to get them off the books and make management easier?

tigergambit

Icecold49 said:

sorry for all the questions.  Do I simply cancel the direct debits and at same time send the affordability complaints - or do I send the complaint and at same time offer the pro-rata payment (by standing order) I can afford to send that particular company. I am slightly uneasy at paying absolutely nothing at the outset

Just to be 100% clear: Cancel DDs, send affordability complaints now and wait for defaults. DO NOT ENGAGE with them before default as this will delay things. Certainly don't be offering any payments at this stage.

I would also pay off the Post Office one as it's so small.