09 Mar 2015

A question about : self administered DMP

Hi all

I am looking at taking my DMP into my own hands but am just wondering how do you make payments to your creditors? I don't have a cheque book. You don't want to hand over your bank details as they can take what they want is that right? If you send an online payment, or standing order or call up with your debit card are you at risk of them trying to take more? I have made payments while in a DMP with my debit card and that was fine but should you be more cautious with this?

For the credit cards that I receive statements I can pay cash in with the paying in slip at the bank but for loans and overdrafts how do I pay those?

Thanks

Best answers:

  • Hi Punto01, I self manage my DMP and have several creditors that I pay differently, the ones that are available for me to pay online with my debit card I do but I always make sure I print a copy of the receipt page which normally gives a payment reference number, some of my accounts have been passed to DCA's and I pay them over the phone with my debit card and there are 2 that still send me paper statemets which I pay by cheque.
    I haven't had any problems with any of these payment methods and my creditors have never tried to take more money than they should, the DCA's are always trying to persuade me into setting up a 'continuous payment' system which I politely refuse and tell tem that I'm happy continuing paying as I do.
    I suppose the other option if you really don't want anyone to have your bank details is to use good old fashioned postal orders.
  • If you can setup a standing order, this is completely in your control. you can easily manage them through online banking and the creditors don't receive any of your bank account details so can't take more than you give them. you're also free to change the amount you pay, when it's paid, and how often it's paid. no need to awkward phone calls where they try to pressure you to pay more!
  • Thanks for your answers guys.
    Sounds like online payment or standing orders are the best way to go - at least I state the amount then. I wouldn't set up a direct debit but I will also not give debit card details now.
    I am going to give it a try - am quite nervous about going self admin but I have to stay focussed on the reasons why I am doing it!
    Wish me luck!!
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