Hello,
I 've been on a DMP for about 3 months but now I realize with the payday loans that I have...it's going to be tough to make the DMP payment until those payday loans are taken care of. I mailed each one of my creditors a letter asking for a debt settlement offer and an amount that I would be able to pay each month. Should I still send in payments or wait until I get some offers (and stop payments on the ones I have already sent in?)

Thanks.

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WDS

You have to stop making payments towards the payday loans and then negotiate with them for debt settlement. This is because, if the creditors find that you are current with your accounts they will have no incentive to settle them for less. Since PDLs have very high interest rates, I think that it is better to go for debt settlement, get the agreement in writing and pay them off.

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