Debt Management question

swayze

This might sound like a silly question but if there are charities that offer a debt managment plan then why bother with companies that charge 15%. Are the companies offering something more for your fee?

Numpty_Monkey

No they are not , probably the fee paying companies offer less, once they have got there fee from you why should they care, and they don't

I could be wrong on this but the charities are funded partly from the finical companies and have more respect than fee paying vultures

Deep_In_Debt

Yep I agree with Numpty. CCCS for example have a lot of respect in the credit industry. In fact, 2 of my creditors recommended I contact them when I experienced difficulties and said that they would be likely to accept their proposals. True to their words, they did.

Creditors feel happier that all the money you are paying is going to them and not lining the pockets of sharks who are just out there to prey on people already struggling with their debts, therefore, clearing the debts much more quickly.

Fee paying companies offer no more than the charities. In fact, the charities act in your interests where as fee paying companies just want their dosh, so probably don't give 2 hoots about you or your debt problems.

HHH_2

i think people got to companies where you have to pay because they dont know about CCCS and payplan etc. there are adverts for the fee pay companies all over the place and when you're desperate you will go for what you THINK is a solution.

TotallyBrassic

My experience, DMP starts Nov 1st...3 creditors been on phone so far, all 3 very nice when told cccs involved, noted account, and told me not to worry basically they would wait to hear from cccs! so very reassuring for me as I expected the creditors to be like vultures. Obv I havn't heard from all of them yet! but hopeful that cccs command some respect out there.

x

swayze

Thanks guys. Although aren't these companies regulated by someone like the FSA? I mean how they can charge a fee whilst there is charities out there really does baffles me.

swayze

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