Debt Consolidation Plans & Being Out of Work
Date: Sun, 10/14/2007 - 17:59
Do dmp's usually lower the payment amount or rework it if you are out of work or on a limited income? After the 6 months I'm either going back to my job (if they take me back) or I am getting a new job.
Don't want to mention this to the DMP yet as I don't know what I'm doing or how its all going to play out...its still about 4 months off. I do have a bonus coming in January that I am going to squirrel away & use that to help until I get back to work, but not sure if it will last that long.
Lawn...I'm not sure how that would work. I guess you will have t
Lawn...I'm not sure how that would work. I guess you will have to wait and talk to thm about it. I know when I signed up for my dmp I was told if I missed 2 payments in a row the could drop me if I didn't have a good reason...I would say you have good reason...how ever they did say if I wasn't making my payments in a timely fashion...the creditors of course would not be recieving their payment and they can back out of the DMP anytime they like. Maybe you can figure out a way to make up the difference in the payments??
That's what I'm trying to do now...get all my ducks in a row in
That's what I'm trying to do now...get all my ducks in a row in case something happens & I'm out of work even earlier. I swear I'm driving human resources crazy with my questions too! LOL!
Just don't want to let the dmp know yet that I'll be out of work. Might be too soon & don't want to get punished some how for that.
I don't blame you...I probably wouldn't say anything either yet.
I don't blame you...I probably wouldn't say anything either yet...can you read over the info papers they gave you and see if there is anything in there that might give you an idea of how they would respond?
I did read over the contract. It said that if payments aren't m
I did read over the contract. It said that if payments aren't made on a timely basis that I might not be able to get a refund (they refund a months payment at the end if you were never late). Doesn't say anything about dropping, but one of the reps there did tell me the other day that I NEED to get my payments in on time as Chase is a stiff stickler for the due dates & they have been know to back out of the plan if even just one payment was made late.
LeeLee, is there any way you can pay a little more each month be
LeeLee, is there any way you can pay a little more each month before the baby is born and a little more each month for a period of time after the baby is born to make up the difference? If you present this to them, along with your circumstances, they might be willing to work with you.
I see-so they have an excess before the baby & then whatever els
I see-so they have an excess before the baby & then whatever else isn't there I could pay after the baby in higher payments. Didn't think of that. Thanks Ele! There's just so much to think about now!