- Mon Apr 28, 2008 7:35 pm
Wouldn't like to be responsible for giving you incorrect information on that one.
We sold our property last year, whilst on a DMP, paid off 1st/2nd mortgage and a CO and after renting/moving costs had some equity left.
Payplan are aware of this and our repayments have remained the same, our situation a year on is unfortunately just as dire as it was then so the equity that we did try to save has all gone, ill health of OH, no 2nd salary for a year, I could go on!
I think unless you were in a position to pay off or do F & F with the equity its not worth just making bigger payments.
I don't think Payplan ever asks if you have savings at the beginning of a DMP and its not a legal and binding contract.
I am not saying that you have to be deceitful either, but unless the payments change dramatically the creditors wouldn't have a problem.........please don't quote me, only my thoughts!
"The cost of living is going up and the chance of living is going down"