www.iva.co.uk

hi new to this site i am in dmp with smooth financial for the last 3 months nearly all creditors have agreed a set sum of payment every month ,but just got 2 phone calls saying my debt company has not paid and i have broke the agreement what do i do and is smooth financial any good would like some feed back please

Hi,

Must admit that I have not heard of these. I was in a DMP before my IVA and we used to get letters sometimes saying that the payment hadn't been made, even though it has.

You need to ring Smooth and ask them what has been going on. You might not be able to get hold of them today, but certainly do so first thing in the morning.

hi thanks for your reply first thing in the morning i will be ringing them ,hope to sort this out.

Hi.

Let us know how you get on.

It may only be a case of creditors expecting a payment on the 30th and not getting it till the 1st due to the bank holiday. If you have given your DMP firm all the relevant account numbers then you will be fine, but do give them a call to reassure yourself. There may even be someone there today, I am in the office for my sins and have been on saturday and sunday as well.

Not that I'm getting away from the housework or anything you understand.....

Regards.

It is vitally important that you obtain clarity on where your money has gone as soon as possible.

I think Size5 is probably right - this is what happened to us a few times.

Just clarify it.

Size5, wouldn't you rather be at home than at the office? Housework or not?

No Jan, Mrs S has just come back from her girlie weekend away in Edinburgh and I am probably safer in here than at home.....

Regards.

[:D][:D]

You probably are!

hi kallis rung smooth they said they send 1 big cheque to creditors and everybodys accounts numbers and let them take the money to put on myaccount does not sound a good way of dooing the payments

Hi arrows

It could be because it is a new accout being set up. How much are the DMC taking for a set up fee?

If your first and second (or part of your second) payments were expected to meet their fees, then creditors may only expect to receive their first payment when you have paid your first instalment, but the creditors are likely to be expecting the payment monthly.

If you have not already done so, please give them a call to check when they will be making the payments and raise any concerns with them or post back here with your worries.

I assume that they mean that they do not send individual cheques to creditors where you have more than one account. This can cause problems if the money is not allocated properly, but your DMC ought to be able to sort this out for you easily.

We used to make just one monthly payment to our DMP company and they then used to distribute it to the creditors. We used to get a statement from them every so often as well telling us what had been paid.

I would definitely query that with them again. You need to tell them that you are being hounded by creditors as they are saying they have received no money.

hi angela they are charging me 88 pounds a month i am paying 500pounds a month to my creditors but i think they have taken first 2 months as set up fees

I certainly never paid any set up fees with mine.

That does seem a lot of money just to set up a DMP.

If you can afford to pay £500 per month, have you not considered doing an IVA?