A Rant,companies that charge a fee for DMP

Sunny_Bear

Hi
I just wanted to write this down and warn people of horrible companies that charge a fee to set up a DMP, and in the long run probably dont even contact your creditors.

Me and my h are in a fair bit of debt, all in my name though and have decided to go BR at the end of the month.

Anyway, whilst deciding which way to go my h got in touch with a company to set up a DMP. Bearing in mind all the debt is in my name, they just said, 'yep, you send us £300 a month and we'll sort it out'. the next day a pack arrived with a banks paying in slip (taken out of a paying in book, you could see where it had been taken out, filled in with a biro) for £300. It went straight in the bin!

I was so cross, some people probably would have just sent that money because they were desperate and it would have gone straight in their pocket as 'admin costs'.

Looking at the small print they charge you the full first months payment to set it up and then 15% each month after that, they didnt even know who our creditors were, plus they were speaking to my h about debts in my name, rediculous, what ever happened to data protection.

So, a warning, DO NOT PAY THESE PEOPLE A PENNY, CCCS, Patpal and CAB can sent a DMP for free, they are there to help you, not take money that you dont have! (I havent named them, didnt know if I should or not?)

Right, Ive said it now, im getting off the soapbox now!!

riquelme

well said

i nearly trusted on eof these companies about a month back, they made it sound so easy, fort a fee of £25 p/m they would take away all my worries

then i came on here for some adbvice and found just in time that i was doing the wrong thig

one piece of advice that stuck with me was

would your OH be happier if the £25 was going to pay off your debts or paying a company the privilage to do it for you.

i ended up with cccs and my DMP starts in october

im sooooo glad i came on here for advice