Need Advice

Lauren_22_needs_help

Hi I am looking for a bit of advice I am currently paying Baines & Ernst £130 a month to pay off my debt - i have around £3,000 left to pay off I am currently expecting a baby and as of December will no longer be working so i am looking to pay this off in 1 lump before I finsh by borrowing the money off my dad to stop intrest (as i'm still being charged intrest by a couple of my creditors & i won't have to pay the £30 fee to B & E each month.) The thing is B & E are going to charge me for doing this & it looks like it could be up to £700 making my debt - £3,700. is there anyway i can leave B & E & pay my creditors direct as I will get away with paying the extra £700? I have been with them about 2 years.

So in other words could I take the debt back on myself?

Please please help as I am totally confused!!!

RAS

Hi

Are you on a DMP with Baines and Ernst. Please try and get yourself out of this and onto Paypan or CCCS. They do not charge you fees.

Do you want to pay your debts or B&E's fees?

milliemonster

Why oh why are you paying to be on a DMP? when you could be with Payplan or CCCS and these are fee free? so in effect you would have paid another £720 off your outstanding debt instead of to B&E??

You will have to read the terms and condtions of your DMP with B&E carefully to see if you have to pay them a 'settlement' figure, do you have any paperwork from them that you signed? it may tell you more in this

HHH_2

Call CCCS straight away and tell them what you've told us Im sure they willl have had people in the same situation. they are very helpful and friendly.

Lauren_22_needs_help

Hi RAS,

I am on a DMP with B & E, basicly i just want to leave them & pay my debts off direct. I was just wondering if anyone had been with B & E & how easy it was to leave the plan. i don't want to go with another company as my dad is lending me the money to pay everything off. Thing is once the baby's here i won't have my own income only my child support ect so I then won't beable to afford the re payments. I feel like i'm worse off than when i started this whole thing!!!

Elliott101

Lauren, I know how you feel. I started with B&E 2 years ago. They said on my original agreement that I would have everything paid off in 96 months. About 3 months ago I got an annual statement from them saying that I have approx. 100 months until completion. I seem to be worse off clearing my £13,000 debt than I was before I started. And I have paid them £763 for the privelage! Does anyone know a way out of this?

harlequin

Lauren_22_needs_help wrote: »

Hi I am looking for a bit of advice I am currently paying Baines & Ernst £130 a month to pay off my debt - i have around £3,000 left to pay off I am currently expecting a baby and as of December will no longer be working so i am looking to pay this off in 1 lump before I finsh by borrowing the money off my dad to stop intrest (as i'm still being charged intrest by a couple of my creditors & i won't have to pay the £30 fee to B & E each month.) The thing is B & E are going to charge me for doing this & it looks like it could be up to £700 making my debt - £3,700. is there anyway i can leave B & E & pay my creditors direct as I will get away with paying the extra £700? I have been with them about 2 years.

So in other words could I take the debt back on myself?



Please please help as I am totally confused!!!

You can leave B and E at any time but if you pay the crediters directly you will lose your first month deposit as you will have broken their terms and conditions and by not completeing the plan you will lose it anyway but that cost might be acceptable to you.