DMP Swings
S1984
Posts: 30 Forumite
Once again due to poor commission based wages I have had to contact stepchange as missed the payment. What an absolute nightmare this is - this is my 2nd missed payment and I am so worried now that i will be removed from the DMP
I have read so much that people don't start DMPs for a few months and build emergency pots I didn't do this and am so frustrated I didn't think to have an emergency fund so ensure if things came up I would be ok
What a horrible year its been and now xmas I will be worried throughout
I have read so much that people don't start DMPs for a few months and build emergency pots I didn't do this and am so frustrated I didn't think to have an emergency fund so ensure if things came up I would be ok
What a horrible year its been and now xmas I will be worried throughout
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Comments
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On a second question - is it worth cancelling my DMP and going self managed now I have defaulted on various debts and could potentially self managed and build an emergency pot over a couple of months
Yes the calls and letters would start again but would eliminate some of the issues facing here0 -
Hi,
Lets not panic here, the one thing that worry's you is a creditor getting legal with you i take it, well lets try to ease those fears, only on rare occasions do original creditors take legal action, usually the debts just get passed around debt collectors and are then sold on, this can go on for years like this.
I think you should cease all creditor payments, concentrate on the essential things, such as rent/mortgage/ council tax/ food/utilities etc.
All unsecured credit are non essential payments.
Save up a pot of money for emergencies, then start again, either with stepchange or go it alone, your current situation is not working for you is it.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Think that is sound advice and no its not - guess this is a hurdle and a learning curve now as to how to enter this a lot more prepared0
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