Should I run my own DMP?

debrag

My figures to Payplan are estimated so therefore not correct and they won’t get changed unless there is a difference of 40%.
With First National my balance is over what it should be so my payment is higher & HFC are still charging me & want me to fill out their own form which would be fine but my balance with Payplan is incorrect so HFC will be asking for more money.
I’m thinking of running it myself so I can sort out these too creditors.

stapeley

Yes, Why not run it yourself ? Have you CCA requested and notice of assignment them ???

debrag

will I have to send out new planns to all creditors or just those two?

Cleosmum

What does a DMP do that you cant? Are they the ones that write to your creditors and then agree payments, and you pay them a lump sum to cover it, and they take a cut?

debrag

no it's payplan so it's free.

I just will never pay off HFC coz my balance is wrong with PP therefore HFC won't stop interest & charges. They will want more each month which I can't give thrpugh PP.

natters_2

I do my own DMP and apart from 2 hassling me the rest are pretty good.

I don't see any reason why you shouldn't do it yourself - the other thing is you can keep track of who you owe what to.

Cleosmum

Ive not thought of mine as a DMP but I spose Im doing my own. Everyone has been very good, apart from southern electric. I say go for it, do you own DMP, it will feel great

debrag

is there a template letter I should use to send to my creditors?

Doing this I shall have proper figures for each which is more than I have on PP. I shall use my credit report to work out payment.

earthmother

http://www.nationaldebtline.co.uk/ are great for template letters

Good luck - it sounds like you'll be better off doing it yourself

debrag

thanks I shall send the revised budget to First National & HFC & explain to all my creditors that I'm doing this myself & asked for payment details.

How long does it take to set up? My next payment is due 21st March.

debrag

So I'm just about to cancel my payments to PP and send out all my letters, I hope it all goes smoothly.