new debt management plan

[sillybhoy]

:confused:i'm new to this site as just facing up to financial reality after loads of stupid"bad credit borrowing"-hope i'm on the right forum for some advice.

i have just agreed a dmp and awaiting paperwork.in the meantime i'm about to default on 3 payday loans and awaiting my provident agent coming round to collect a payment which i haven't got.any advice on how to deal with 1.provident.2 payday loan companies until my plan is finalised would be greatly appreciated.

[reborn71]

bump

[blueda]

Hi and welcome to CAG, when do you expect the DMP to start and when is the Providant agent due to collect ?.

[sillybhoy]

agent due on wednesday-plan should start 1/02

[blueda]

The way i see it the options are, contact the company and inform them what is happening, or tell the agent when he calls, or dont answer the door if you prefer, although i suspect he would keep calling to start with if you take that route.

[loobyloo85]

I would contact the company in writing to explain you are in the process of setting up a DMP and in the meantime offer them a small token payment

[diamondgirl]

Did the DM not advise you to send a letter to your creditors explaining that you were to start a DMP on 01/02 and send a token payment to them to show what you are doing?

Whose the plan with?

Provident in a lot of cases are pretty fair (my sister had a couple of loans with them and has had no problems) although I also know of people who have had some problems with them.

I would suggest that if you haven't been told to do so write to them and send a small token (send a PO) and I would also send it recorded.

If you are on good terms with your agent then explain the situation to them, if not probably just ignoring the knock on the door may be better, personally I wouldn't ignore the knock if you are in. You could also do the letter put a token payment in with the letter and ask the agent to deliver it to the office although you would not have a receipt of it being delivered.

DG