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Debt Management questions
swayze
Posts: 229 Forumite
Do the Debt management companies pay off all the debt at once, or is it monthly installments?
Who gets the fee of 15-17% - the debt management companies I presume.
How do creditors benefit?
How do debt management companies get their business - is it online or through brokers?
Thanks
Who gets the fee of 15-17% - the debt management companies I presume.
How do creditors benefit?
How do debt management companies get their business - is it online or through brokers?
Thanks
0
Comments
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The short answer - do not sign up to a Debt Management Company that charges a fee. Use a free one, such as Payplan, instead.My Debt Free Diary I owe:
July 16 £19700 Nov 16 £18002
Aug 16 £19519 Dec 16 £17708
Sep 16 £18780 Jan 17 £17082
Oct 16 £178730 -
MyLastFiver wrote: »The short answer - do not sign up to a Debt Management Company that charges a fee. Use a free one, such as Payplan, instead.
I'm not.
My questions are for research purposes for piece of uni work that is due.
Thanks0 -
Do the Debt management companies pay off all the debt at once, or is it monthly installments?
Who gets the fee of 15-17% - the debt management companies I presume.
How do creditors benefit?
How do debt management companies get their business - is it online or through brokers?
1 - monthly payments
2 - Debt Management Companies (unless you use a Charity that doesn't charge)
3 - No idea, suppose they know they will get something rather than nothing?
4 - Online, brokers, cold calling people who have applied (and been refused) for credit, word of mouth
0
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