Your views and questions.

Moderators: TalbotWoods, JaneClack

By xxsue35xx
#297253 Hi,
At the moment all my payments are up to date but I am about to set up a DMP. The problem is my ex is about to stop his payments to me (long story) so by the end of this month i will not be able to cover my outgoing. And my mortgage wont get paid. BUT if I cancel my direct debit to my credit cards my mortgage wont be effected. I cant fill in the DMP until the end of the month when my ex stops his payments. Can I cancel the DD to my creditors as I have a few while I sort out everything else. I have written the letter of "Hold action on my account" but not posted it yet. Hope that all makes sense .....the crux of it is I dont want to get behind on essentials such as mortgage and house hold bills!

Many Thanks
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By JaneClack
#297363 They are the priority so you pay them ie the mortgage and bills.

You know you are no longer going to receive the money from your ex so you do not include it in your income and expenditure sheet that you will be sending to the creditors.

If you are doing the DMP with one of the non fee-charging companies - Payplan or CCCS - they would have given you this advice anyway and will have discussed this.

if you are doing your own DMP you need to ensure you have a safe bank account (ie one with no overdraft on it or associated debt with it such as loans or credit cards as your bank can exercise its right to offset and take payments for those out in full), ensure all your priority bills go from the new bank account and cancel the direct debits and standing orders from the old one including any to the unsecured creditors. They will soon get in touch with you re missed payments so get your letters to them and reduced payments. Make those reduced payments to.

You can always ring the non fee-charging debt management companies for a chat - you have nothing to lose by trying and they may be able to help.
By xxsue35xx
#297433 Thanks Sarah,

I was being impatient and posted it twice! (in total panic) but the advice I have been given has been AWESOME so glad I have come across your site!

Cant thank people enough!!