Lowering my DMP payment after a year: has anyone done this?

[ShakingLizard]

No judgement as the guilt I feel to be in this position has already taken its toll mentally and emotionally.

I am on a DMP, years of being the generous always say yes person it came to a head and I got help. I’ve completed 1 year of 5 and it’s been hard, I feel I was conservative on my spending (I don’t mean frivolous spending. I mean my usual spending) and the payment is a stress - I have little if anything left at the end of the month. Is it meant to be this hard? I know I have to get out of this and I am trying my best - I am considering lowering my payment I have re put in my numbers on my budget, based on my last 3 months outgoings, it does lower my monthly payment -

my concern is my creditors will not be happy - or something that has been working and going well will implode - has anyone been in a similar situation or are on a DMP?

If your essential spending has increased (as is the case for us all) then you will have less left to pay your creditors. I'm guessing if you're in a DMP most of your creditors will be for non-priority debts - credit cards, store cards etc. Your creditors will be aware that your essentials such as food, and priority bills like council tax, rent or mortgage etc have to come first, which is why a DMP is reviewed yearly.

Unfortunately any money left will be paid into the DMP, so you must account for all the annual costs in your budget too to make sure it's accurate and you're not really struggling for money every month.

Did you receive debt advice before choosing a debt solution? There may be a more suitable option for you to consider. Your DMP provider may be able to help you review your other options.

https://nationaldebtline.org/get-information/guides/ways-clear-your-debt-ew/

If your creditors aren't happy with the new payment amount they can take further action to recover funds. As a DMP is informal (and can be cancelled easily) you're free to choose a different debt option should this happen - usually a formal solution as these prevent court action.

If your DMP is with step change or CAP then call them up and discuss changes with them. They will deal with this situation 100 times a day and there will be no judgement.
the priority is the plan is workable for you so that you can stick to it and get yourself out of debt