DMP- 6 month letters!!

stevo2_2

Hello there,

I have been running my DMP now since june 2007.

When I set up my DMP with the aid of Payplan, I had to get the creditors to all accpt as you all know.

Problem I have now is that Northern Rock and A&L are starting to A. ask for more money and B. ask for new financial statements.

Payplan have sent off the financial staements and A&L wrote back to me stating that they would be willing to accept the lower repayments but only for 6 months. That means that my DMP will be running well over a year when them 6 months are up! So what will they do at the end of those 6 months?? Court?? or accept my reduced payments.

Help!!

hitback

Hi there.

Not sure what will happen as it varies between lenders. Natwest tols us they would accept our payments for 6 months and then out of the blue served us with a CCJ. If you are sending them a SOA they will be able to see for themselves how much you can afford so even if it went to court, they would be unreasonable to expect you to pay any more. Creditors will always ask for more money...some of them can't understand that if you could afford to pay the whole debt...you wouldn't necessarily be in debt in the first place....does that make sense...been a long day....Have you spoken to anyone at Payplan about this??? Might be worth asking them what happens in their experience??

mummum2

Hi,

Also not sure myself, but would love to know myself, from anyone who's been there. That's want scares me to be honest, after the initial 6/12 months are they going to start court proceedings. On a bright note have been told if you keep up payments/upping payments then, creditors generally don't go down the court route. Good luck and let us know what Payplan says.

hitback

We recently increased our DMP just before Christmas, and we were starting to get letters/p calls from creditors, but not had any for some time now. Two creditors have started to apply interest again, but have written to them asking for this to be reviewed, so will keep you posted.