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  • #1

    dmp cancelation advice

    hi folks, first post on hear wonedering if anyone has any advice for me. i took a dmp in 2009 because it was really the only option however now my sercamstansis have changed and i am in a position to manage my accounts myself, cna anyone advise if it would be usefull to cancell my dmp and just pay the creditors my self. and if i can do this and what is the liley response from my creditors to be.

    many thanks
    Tags: accounts, action, advice, arrangement, balances, bank, barclays, charges, court, creditors, date, debt, debts, dmp, fee, fee paying, fees, financial, freeze, housing, hsbc, interest, land, letters, loan, missing, money, monthly, monthly fees, oft, paid, pay, payments, phone, private, rate, rules, saving, solutions, template, threats, unenforceability, unenforceable
  • #2
    Re: dmp cancelation advice

    As far as I know you can cancel a DMP and manage the accounts yourself (I've never had any dealings with DMPs myself)

    Who manages your DMP at the moment?
    Let your smile change the world but don't let the world change your smile

    I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

    If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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    • #3
      Re: dmp cancelation advice

      i am with a company called dfh i am more worried about the respose of the creditors.

      Comment

      • #4
        Re: dmp cancelation advice

        Originally posted by lilslim6005 View Post
        i am with a company called dfh i am more worried about the respose of the creditors.
        well dfh will be charging you each month, we won't. The creditors can bark, but we can assist in getting that to a meeow.

        Have a read of the UE section, nothing to lose....

        Proof of what you're paying the leeches ---> DFH Financial Solutions (DFH Ltd) | Our Fees

        Ongoing monthly fees, which are 17.625% of each monthly payment you make or a minimum of £35 (whichever is greater).
        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

        If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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        • #5
          Re: dmp cancelation advice

          thats exactly the problem they helped me out of a hole i had dug myself into. but now i would like to return to paying these off myself as i allwredy pay over what would be say the minimum payments on cc.

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          • #6
            Re: dmp cancelation advice

            I was with a private DMP company which went into liquidation I got them to send me my file so I had copies of all the creditors' letters accepting £x per month from me and simply wrote to each one to ask for their bank details so I could pay them direct

            Then once I had established which debts were unenforceable (thanks to this site) I stopped paying those immediately and followed the AAD plan. So far so good. Not a penny paid for two years

            Welcome to AAD Land

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            • #7
              Re: dmp cancelation advice

              i have full intention of paying my creditors what i owe them. what i am worried about is if i come of the dmp and tell the creditors directly will they hit me with extra charges or just let me pay them. as i can now pay a bit extra sometimes to clear ballance quicker or should i just put that to one side and then pay them off when i can.

              Comment

              • #8
                Re: dmp cancelation advice

                They 'helped you out' - is that how you perceive it?



                Are you pro-bank by any chance? We aren't.....
                I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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                • #9
                  Re: dmp cancelation advice

                  Originally posted by lilslim6005 View Post
                  i have full intention of paying my creditors what i owe them.
                  You mean the second and third time round....? You'll have already paid them tenfold if the accounts are old
                  I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                  If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

                  Comment

                  • #10
                    Re: dmp cancelation advice

                    i had one account's frozen the hsbc put me on a manged loan and barclays just kept a lower rate but with lower repayment.

                    no ime not pro bank as they are messing with a lot of peopples lives.

                    Comment

                    • #11
                      Re: dmp cancelation advice

                      Originally posted by lilslim6005 View Post
                      i have full intention of paying my creditors what i owe them. what i am worried about is if i come of the dmp and tell the creditors directly will they hit me with extra charges or just let me pay them. as i can now pay a bit extra sometimes to clear ballance quicker or should i just put that to one side and then pay them off when i can.
                      If you want to cancel your DMP, then write to the company and tell them. I have never gone through a DMP so fail to understand why people do, to be honest..... but each to their own.

                      Are you saying that you're not concerned that accounts in the DMP may be unenforceable?..... or is it that you don't really understand what it's all about and fear of the unknown (so to speak) is getting to you?

                      Remember the mantra:
                      NEVER communicate by 'phone.
                      Send EVERYTHING by Recorded/Special Delivery
                      Keep a copy of EVERYTHING sent
                      Keep hold of EVERYTHING received
                      PriorityOne & CPUTR 2008 (ex P1 CAG CPUTR 2008)

                      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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                      • #12
                        Re: dmp cancelation advice

                        no i dont now whaat uneforcable would meen

                        Comment

                        • #13
                          Re: dmp cancelation advice

                          Have a read of this section.....

                          http://forums.all-about-debt.co.uk/f...splay.php?f=14

                          If you have any questions, make a note of them and we'll try to help.

                          Remember the mantra:
                          NEVER communicate by 'phone.
                          Send EVERYTHING by Recorded/Special Delivery
                          Keep a copy of EVERYTHING sent
                          Keep hold of EVERYTHING received
                          PriorityOne & CPUTR 2008 (ex P1 CAG CPUTR 2008)

                          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                          Comment

                          • #14
                            Re: dmp cancelation advice

                            Unenforceable means that the banl/lender is unable to take action against you. Some may try to bully you with threats - but as far as court goes there is little they can do.

                            Do you know who all your debts are with andd then the accounts were opened?
                            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                            Comment

                            • #15
                              Re: dmp cancelation advice

                              after reading the first bit my accounts were opend after that date i e about 2007 onwards

                              Comment

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