DMP in progress

[Math_Rocks]

With much trepidation, I made the first call to a creditor (Citi) on Friday to tell them that we couldn't make our payment and are in the process of enrolling in a DMP. Much to my surprise, the CSR, Rose, was incredibly kind to me. She tried but was unable to prevent a late fee from being charged this month but noted our account and changed the due date on the account so that the DMP payments will not be late. DH had to make two of these calls tonight. Chase was equally gracious. Capital One just didn't seem to care. ("You don't need to tell us anything; we'll negotiate with the DMP when they represent you.") So, three down. Thirteen to go.

[marty56]

In the grand scheme of things,  you wil be saving so much more money in the DMP, the late fee won't matter.  I would triple check the statements for awhile to make sure that everything is being done correctlly.  Once everything is going okay, you just need to double check them, unless ofcourse you have a BofA product in the program which requires more checking.

[haulingthescoreup]

Good for you, Math_Rocks! I'm glad you're not just handing everything over to the DMP.

If there's any way that you can squeeze out the money for 3-bureau credit monitoring, I would strongly advise doing this, pulling your reports weekly. You want to be sure that the payments are going in on time. Be sure to keep up your e-mail alerts from the banks to let you know when a payment is due and when it has been made.

It's tough enough having to go through this. The last thing you need is to have lates appear on your reports because one account is always paid late.

Good luck!