any recommended credit agency ?

Argentina

I am starting a DMP and have spoken to a couple of credit agencies and one charges a fee and admin charge monthly, another is Payplan and they are free and apparently charge the creditors for this arrangement, not me. What;s the best arrangement please as I want the best possible service to me which I suspect would be the agency I would pay? Help please with any advice or expereiences.

Useless_with_wonga

Don't pay anyone to sort out a DMP there is no need to be lining their pockets with money you could be using to service your debt.
Payplan and CCCS both offer this service for FREE and both are very understanding non judgemental and offer the same if not a better service than fee paying companies.
It is a no brainer really.

Argentina

Thanks, yes it makes sense.
I just want to know that CCCS and Payplan do look after the Client's interest and not side with the creditors, in terms of dealing with demanding letters and payment negotiations etc.

With Payplan they get fees from the creditors rather than Client, but why would the creditors want to pay them ??

Argentina

Another reason I would like a recommendation is because CCCS online say the client deals with the creditors' letters etc. I would prefer a professional to take this on and that is why I wonder if paying a fee for a service would be more reassuring.

FACEDUPTOITATLAST

I had some advice from DCM money solutions re DMP, they seemed very professional. They do charge a small fee, can't remember what it is though, They give you a guaranteed debt free date, and what happens is you pay for example £300 to them, they then pay £200 to creditors, and they save the difference with the view to settling early, and after say 3yrs if you in it for that long they will approach the creditors and say we have x amount can we settle the debts, and creditors say yes/no. If for any reason (which is NOT your fault) it looks like the debt will go over what they have said will be your guaranteed debt free by date, the rest written will be written off. I had a guy come out to me personally and go through everything, was very impressed. I didn't go ahead as I was made bankrupt, otherwise I would be with them now.

fermi

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Burlesque_Babe

please - don't EVER use a company which charges any kind of fee. Use CCCS and Payplan.

firebug21

Hi,

I have been badly stung by DCM as I am sure others have, I have paid them money which could have gone to service my debts and I am now in a worst situation than when I started.

Please check out all options before using a debt managment company which charges a fee. The £1800 I have paid to DCM would have paid off at leats one of my debts by now.


So I've cancelled my plan and will be managing my debts myself. Think carefully there is lots of help from charities out there. It is nothing to be ashamed of.

be aware of DCM though:eek:

Miss_Marple_2

When Payplan say that creditors pay the fees, what they mean is Payplan as an organisation is ( or was - not sure if they still are) partly funded by some of the big creditors - e.g. Barclaycard.

Your specific creditors do not pay fees for your individual DMP.

Please do not pay for a DMP - both Payplan and CCCS provide the service for free - which means that all of your payments go to your creditors, they also have a lot of experience and are well respected by creditors who are more likely to accept the recommendations offered by these 2 organisations. Because you don't pay for your DMP, they have your best interests at heart as they are not there to make a profit from you