The people you owe
There are several important things to know about a DMP and the people you owe.
1. The people you owe can refuse the DMP offer
2. They can keep adding interest and charges to your debts
- Most will agree to stop this
3. The people you owe may 'refuse' a DMP payment
- They still have to apply any payments to your account
- DMP providers recommend you keep making DMP payments as normal
4. The people you owe can still take further action while you are on a DMP
For example, they can:
- Pass your debt to a collection agency
- Start court action
- Continue to contact you
5. The total debt you owe could increase
- This is because you are taking longer to pay off the debt