Key tips for getting your DMP back on track after Christmas

Christmas is a busy, and expensive, time of year. Even now it’s gone, you may be feeling the lasting effects for many months to come.

Did you overspend over Christmas? Did you miss a DMP payment? Or did you stay up to date with your DMP but miss an essential bill or priority payment? Perhaps you even ended up borrowing a bit extra to see you through?

First off, don’t worry! We understand the financial pressure Christmas can leave you under and we’re here to help. Here’s what you should do.

tips

Talk to us

Get in touch with a Personal Finance Manager and they’ll chat you through the options. For example, if you’ve borrowed more over Christmas we can add the additional debt to your DMP. Your regular DMP payment won’t change, but we go back out to your lenders to ask them to accept a little bit less to accommodate the extra debt. The extra debt will increase the remaining term of your DMP though.

Just give us a call on 0161 672 8989, or use our new two-way texting service. Text one of our Personal Financial managers, within business hours, on 07860020475 and they’ll get back to you as soon as possible.

Don't put yourself under stress

If you missed a DMP payment, then you might want to catch up with it. If you can, great, but you should only do so if it doesn’t affect your circumstances. For example, if your parents have given you some money, or you’ve just received a Christmas bonus, then you may be able to catch up stress-free.

However, if making a catch up payment is going to leave you short on your essential bills this month, then you shouldn’t do it. Again, just give us a call and we can chat through your best options.

Similarly, if you skipped an essential bill in December and you now need to pay it, please get in touch. It’s really important you don’t allow arrears to build up on your priority bills – and we can help you with this.

Plan now for next Christmas

The New Year is a good time to take a fresh look at your budget. Could you trim back on a couple of treats now and use the money you save to start to build up a little savings pot? It could make life easier when Christmas 2018 comes around! Have a look at our New Year’s resolutions blog post here for some money saving inspiration.

Need expert help with your debts? Complete our form to request a callbackRequest a callback
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