DMP - Self Managed?

[Wiggle61]

Hi, wife lost her job and as such I have not paid personal, unsecured loans and CC’s for the last 4 months. Some are now defaulted and passed to 3rd parties so I was planning on setting up a DMP short term and also checking UE in parallel

thoughts? Is UE the first step and then a DMP can follow? Or do both together?

any recommendations for how best to start a DMP? I know there are other options but fairly certain this is the best approach in my situation so not looking for advice on IVA’s

[Dottir]

Hi
So there is a lot to unpack here.

What is your goal?
How much the debts are in total.
You can set out a diary if you want but right now maybe you have enough to do.

My first piece of advice is to keep copies of everything you receive and send. Long term these may be needed.

Now if it were me I would first try to set up repayment plans. There are forms national debt line provide
Work out your income and expenditure ( be realistic) and from that you will have any surplus income. Be realistic with your expenditure - we all deserve a treat.

Next list all your debts and make pro rata offers to each.

i would definitely talk to national debt line .


Realistically if debts are newish and still with the original creditor sending a cca request might be a waste of time. However if sold to a debt purchaser ( not DCA)it might be worth a shot.

Hope that helps.