Is paid Debt Management REALLY so bad?

davetrousers · 3 April 2009 at 3:44PM

WhyisFreeBetter wrote: »

How about you give others a chance? Nice welcome, thanks.

For everyone else, no not spam at all, a genuine question. I'm fighting debt like everyone else, but when visiting this site and forum, I get the impression everything that is free or cheaper is somehow better. My experience (of everything) so far has not led me to that conclusion. It is just my opinion.

lol, definitely :spam: then

andrewsheff11 · 3 April 2009 at 3:47PM

Hi

My main objection to the 'Paid' DMP companies is that they make money by taking a large percentage of the payments that their clients make to them. The CCCS and Payplan make their money from contributions from most of the major banks and other financial institutions and also from any interest they make from holding on to clients payments for a short time before passing it to the creditors. As a result of this 100% of any payments you make to these ‘Free’ organisations will go to reducing your debt. I am by no means an expert but the 'Paid' DMP companies that I know of take around 17% of the payments from their clients that should be going to paying off debts and as a result it takes much longer to become debt free. There is also plenty of evidence that banks have far more respect for organisations such as the CCCS and Payplan ....

As has already been mentioned the best thing to do is get some advice from the CAB
or National Debt Line or CCCS . Also to get first hand experiences from people who have used both paid and free DMP services or that have done their own DMPs it might be worth posting any questions you have to the DMP Mutual Support Thread....

Billy_two_speakers · 3 April 2009 at 3:47PM

davetrousers wrote: »

Why do I suspect that this is a :spam: post from a new member?

I agree but the way he has posted, means it gives people a chance to think long and hard about this option. All we need to do now is wait for is sock puppet to come along and name the best company for him to give his money to

all his post has done so far is re inforce that there is no need to pay.

fermi · 3 April 2009 at 3:49PM

Looks like an employee of a fee charging firm to me, who is bored on a Friday afternoon because they have no customers. :rotfl::rotfl::rotfl::rotfl:

WhyisFreeBetter · 3 April 2009 at 3:55PM

Well, I hope others see that my post is clearly not like that.

Not fair guys. I was accused of spam and denied it. Why not wait to see what happens? If I does turn out to be spam, then you can direct me to the denial.

I hope not all long-term members here are so arrogant. I kind of assumed this would be a friendly place.

Now three of you? What is this? Don't you guys realise people come here worried and stressed? Stay of this board if it is just some game for you. Can the four of us please discuss this by PM?

Anyone who thinks this is spam is welcome to pm me and I will show them my business website (I'm a website developer).

WhyisFreeBetter · 3 April 2009 at 4:00PM

fermi wrote: »

Looks like an employee of a fee charging firm to me, who is bored on a Friday afternoon because they have no customers. :rotfl::rotfl::rotfl::rotfl:

Based on your signature, you should be ashamed of yourself. Is that what you do, just laugh at and insult people asking questions you don't like?

I will just start a new thread as you guys have ruined this one. Hope you're all proud.

skylight · 3 April 2009 at 4:05PM

WhyisFreeBetter wrote: »

Don't you guys realise people come here worried and stressed?

Exactly.

A fair number of posters and lurkers here really do want to end it all - literally - because of their debt.

Long time posters are VERY protective of our members and we refuse to accept, and will fight back, against those posts that are deemed SPAM or inappropriate. We are inundated with trolls at times and spammers who have realised that those who are in a very, very low place are the easiest ones to manipulate, con and push over the edge.

You cannot blame anyone here for thinking that your first post is a pre-requisite for spam. Its not like we haven't seen it all before. :rolleyes:

Nigella_2 · 3 April 2009 at 4:08PM

There is nothing wrong with paid for DMP for the reason of speed etc. as the free ones are overwhelmed at the moment. As long as you do your homework and understand that not all your money will go to your creditors!!

The free ones get some money from the credit industry to survive.

Generally speaking a fee charging firm will have more resources to employ staff to harass creditors into freezing interest on your behalf, the sooner the interest is stopped on the account the quicker the debt will come down. Some say this is what you pay a firm to do. Due to the current debt crisis in the UK the fee charging firms have seen a massive increase in demand for their services because the non fee charging firms, of which there are only two, are extremely busy and can take longer to set up these plans. Debtors need action sooner rather than later and many accept that they have to pay for such a service.(debtwizard.com quotes)

Numpty_Monkey · 3 April 2009 at 4:09PM

fermi wrote: »

Looks like an employee of a fee charging firm to me, who is bored on a Friday afternoon because they have no customers. :rotfl::rotfl::rotfl::rotfl:

I think the tittle of the thread says it all

Is PAID debt management really so bad
YES
You can do it yourself , which is better for some people:T
or a debt charity which is the best for the rest:A:T

Or a pay for the above, to do nothing, except take the money you cannot afford,promice you miracles and give you Foxtrot Alpha

Anyone getting a feeling there could be a spamming link next week

davetrousers · 3 April 2009 at 4:10PM

Jog on Spammer.

Is paid Debt Management REALLY so bad?

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