Can I lose my house/car with a DMP

Discussion in 'DMP - Debt Management Plan' started by dawnfoster, May 11, 2016.

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  1. dawnfoster

    dawnfoster New Member

    Ive been reading up about debt management plans - Ive owe a lot of different debts to different companies and I need something that simplifies the whole thing because Im going crazy trying to work out all the different payments I need every month.

    Something im not sure about though - if I get a DMP is there a risk car or house might be seized? I know some debt solutions involve your assets, but im not sure about a dmp.

    Does anyone on a dmp know?
     
  2. helenamy

    helenamy New Member

    hey dawn - a DMP isnt like some of the other debt solutions as its more informal. But it soudns like its what you need as it helps simplify your debts. a DMP provider will look after paying your creditors, you just have to make sure keep up payments, same as anything else.

    It doesn't risk you losing your house if you keep up payments, same as without a DMP tbh. But hopefully you should be able to make the payments more affordable os you that wont happen.

    Hope that helps xox
     

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