iMoney Manager etc...best for 'going it alone'?

billvell

Hi all,

As per my earlier post (http://forums.moneysavingexpert.com/showthread.html?t=1105087) [in which I waffled too much] I've been to-ing and fro-ing over my SOA with a view to trying to resolve my financial issues myself........I mentioned a charity called sterling trust (http://www.sterlingtrust.org.uk) before but have since seen MSE Martin refer to the 'iMoney Manager' (http://www.imoneymanager.co.uk) has anyone else succesfully used either or any of these types of tools to go it alone?

Also, if anyone can point out a useful and relevant thread or other websites for a bit of a guide on how to deal with creditors etc, that would be very useful.

Thanks in advance

Leixlip1

I'm doing my own DMP as I like to be in control of my own destiny. I take advice from National Debtline when I need it. They also have sample letters, advice sheets etc on their web-site that you can use.
Generally I've not had too many problems with my creditors aside from Lloyds-TSB and Barclaycard. Some want updates on my situation every 6 months and some every 12 months.
Do everything by recorded delivery letter so you have a record of your dealings with each companyand keep to the arrangement you make with them.
Good luck.

JumpingJack_2

Hi BillVell,

I occassionally do a quick search on 'iMoneyManager' after Martin put a link to the download page, just to see what people are saying about it.

We decided to make the iMoneyManager generally available after using it successfully ourselves, on behalf of a number of people.

We have met with Credit Action and they will be putting a link/page dedicated to the iMoneyManager on their site within the next week or so.
It is starting to get a lot of interest and we will be upgrading it soon. It will always be available at no charge.

I checked out Sterling Trust. I know you will think I am biased (which of course I am :-) ) but there are a number of things that I believe make their online system harder to use.

The site requires you to upload personal information to their domain. Much of this info is very personal, card numbers etc. So they have access to and control of your info.

The method of detailing your personal expenditure is not walked through, as it is with the iMoneyManager, and the outputs cannot be adjusted or personalised after they have been produced, they also have Sterling Trust contact details clearly visible.

There is one other thing I found a little concerning. The site says it is a registered charity. I checked the number and rang the Charities Commission. It is not listed. I rang the company and was told that the company had the papers for application and was going through the process.

Make of that what you will.

We plan to add to the letters the iMoneyManager will use and we keep the users regularly updated with developments. You can easily unsubscribe whenever you wish. The only personal information we have access to is your name, email address, and the server automatically logs the IP address too. You control all your personal information on your own PC.

BTW. Leixlip1 is right. National Debtline is great, you can actually talk to someone about your issues and recorded delivery to creditors is the best way forward.

Good luck

2912pwil

I too checked with the Charity Commisioners (please check yourself...) - they have no record of the company. Sterling Trust IS a company registered with Companies House, registered address (not that shown on their website) of STERLING TRUST UK LTD
5 JUPITER HOUSE, CALLEVA PARK
ALDERMASTON
READING
BERKSHIRE
RG7 8NN
Company No. 06378886.

I have an electronic chat with them. Eventually they confirmed that they are not a charity.

I am sure anyone who thought they were preying on the vunerable by pretending to be a charity would be just lacking in trust & suspicious unneceessarily.

Cheers!

moongarden

I used an SOA from here put into Excel and a budget also from here in Excel but I tailored it to my own needs.

I did my own DMP as, like Leixlip, I wanted to retain control. By the way you write your posts and the way you have been doing your research it looks like you wouldn't have too many problems doing your own plan.

moongarden

forgot to add, template letters and step by step instructions are on here too.

a DMP company would not have reclaimed my bank charges, nor challenged the people I had my car loan with (and won!). Both of those actions took large chunks out of my debt, making it easier for me to concentrate my efforts on the other creditors.