Just had DMC ringing me telling me NOT to go with CCCS.....

rayday2

RakarthIX wrote: »

If you are struggling with your debts you can't afford the minimum payments, therefore APR is irrelevant. If for example you owe £20000 on credit cards all with 15% APR, then minimum payments (2% of balance) would be £400 (with annual interest being in the region of £3000). Now if a DMC takes you on and negotiates repayments to what you can afford, for example £200, then they may take a 15% fee of £30 leaving £170 to go to creditors. £30 over a year is only £360, considerably less than the £3000 interest otherwise paid.

But a DMC does not deserve the money for something you can do yourself. Have you ever been on a DMP?

I am and I do it myself and what you talk is a lot of rubbish and sales talk. You definately sound like you have a vested interest in running charities down.

RakarthIX

I have nothing against the C.C.C.S. and I'm sure the work they do is the best they can achieve on a small budget. The main point I am trying to get across is that DMCs aren't the root of all evil just because they charge fees. There is no reason the fee-charging and non-fee charging companies cant work side by side (in fact it is impossible for them not to because if there were no DMCs the free companies wouldn't be able to cope with the sheer volume). It is like many things in life, yes you can do it yourself, you could buy it on the cheap or you could invest money and get better results. Take for example gardening, you could do it yourself but it involves a lot of time and effort. Option 2 could be to pay a local gardener an average amount to do a reasonable job, or you could splash out a bit and hire a landscape gardener to do a great job. All three options can work, you just have to choose the option you think would be most suited to you

SingleSue

Gardening analogy is not a good one to use for me.

My brother is a landscape gardener, I am a complete dweeb at gardening, yet we have been able to transform my wilderness of a garden into a prize winning one....all on the cheap (and I mean cheap, so far it has cost £30 and that is for my front garden plus back garden which is 120ft long!)

So it is possible.

I think the main point others are trying to get across is why pay out in fees for something which can be done for free thus reducing the amount available to pay a debt/or debts off.

RakarthIX

the fact your brother is a landscape gardener explains why you can do it on the cheap, ie he wont be charging you due to being family. Plus you have completely missed the point I was making, i.e. money buys you a better service (or should do (sharks discounted from this))

newlywed

RakarthIX wrote: »

Plus you have completely missed the point I was making, i.e. money buys you a better service (or should do (sharks discounted from this))

Not always. I could make a pizza, buy a ready-made pizza which won't taste as nice, or pay more and order a takeaway which will be greasy and probably cold by the time it gets to me.

It's if I pay the sort of money I really can't afford that I will get the better pizza (at an Italian restaurant - in Italy :rolleyes:) But if I do that, then I can't afford rent and council tax

opalfruits_2

RakarthIX wrote: »

the fact your brother is a landscape gardener explains why you can do it on the cheap, ie he wont be charging you due to being family. Plus you have completely missed the point I was making, i.e. money buys you a better service (or should do (sharks discounted from this))

I'd be interested to know why you feel that the CCCS provide a more basic service than a fee charging DMC. Can you give some concrete examples? From my experience, CCCS advisors tend to be highly trained specialists whereas fee charging advisors ... don't.

RakarthIX

I mentioned the most obvious reasons in a previous post, ie legal help, settlements and for those who value time, quicker responses. We all know in the current climate that more and more people are struggling to manage their debts which is increasing the number of people contacting the free DMCs, who are already overstretched and underfunded, which is resulting in longer queue times on the phones and longer responses to queries. (again not all fee-charging DMCs are different to this)

newlywed

RakarthIX wrote: »

which is resulting in longer queue times on the phones and longer responses to queries

CCCS answered the phone within about 2 minutes on Monday. Dealt with me there and then and sorted my query. They also respond the next day to any emails. I have had no problems contacting them.

I'm sticking with them as they have been extremely helpful (and free) for the last year.

rayday2

And I told you that a large DMC company that I nearly dealt with had no idea about legal matters and just wanted me to have enough disposable income to line there pockets. The "lad" I spoke to had never run a home so how the hell did he know about anything?

I find your posts offensive you are hell bent on ruining peoples confidence in a debt association set up to offset the greed of finance companies. This is just the underhand tactics we all associate with fee charging DMC and you do a credit to the ruthless, profit margained, leeches that feed off those in true hardship. Well done!

RakarthIX

Do you have the same opinion of banks then who are the people who put you in the situation you are in in the first place? Plus have you actually read my posts - I haven't tried to slag off C.C.C.S. at all, I have purely tried to point out that there is a place in the market for fee-charging DMCs and that they aren't all the devil in disguise.

If you nearly went to a large DMC then the chances are you will have been speaking to a sales rep of some description who's job is to sell you a product suited to your needs, not to give you legal advice, that would be dealt with by a specialist team within the company.