DMP and Bonus Coming - do i handover
brown0608
Posts: 4 Newbie
Hi first time i have posted and need some help
we have a bonus cheque coming soon as a thanks for the effort by my company over the last 2 years - its not alot but we would like to decorate new babys rooms and treat the 8 year old to something. I am on a DMP and was going to put straight into my new account that i have opened but have been advised not to as creditors will say we should have the money. Everyone has said open a CASH ISA / Joint Account with someone else as they will have access to new account and take me to court as i have not paid creditors the amount received - i am feeling like a criminal and although we have messed up we are sticking to plan but want the kids to get something. any advice would help please
we have a bonus cheque coming soon as a thanks for the effort by my company over the last 2 years - its not alot but we would like to decorate new babys rooms and treat the 8 year old to something. I am on a DMP and was going to put straight into my new account that i have opened but have been advised not to as creditors will say we should have the money. Everyone has said open a CASH ISA / Joint Account with someone else as they will have access to new account and take me to court as i have not paid creditors the amount received - i am feeling like a criminal and although we have messed up we are sticking to plan but want the kids to get something. any advice would help please
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Comments
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Not sure about that so bumping it back to the top.
Would it be possible to offer reduced settlement payments to your creditors with some of the money?
Is your DMO with one of the free debt charities? CCCS/Payplan?After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110 -
Yes its with Payplan0
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It's usually best to try to negotiate full and final settlements yourself as Payplan would want you to offer the same to each creditor - and splitting the amount you may want to pay between all your creditors may only be a small percentage that nobody would agree to.
Just wondering - who is this everyone you are talking about. I've never heard of a creditor trying to take someone to court after they've received a bonus.After falling off the gambling wagon (twice): £33,600 (24,000+ 9,600) - Original CC Debt: £7,885.91
Dad Gift 6k ¦ Savings & Inv Tst: £2,500
Loan 10k: £0 ¦ Dad 5.5k: £2,270 ¦ LTSB: £0 ¦ RBS: £0 ¦ Virgin £0 ¦ Egg £0
Total Owed: £2,270 (+6k) 11/08/20110
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