Please help !! Debt query

saxo_appeal

Ok i applied to a couple of companys for a loan and because i had a CCJ (which has now left) i didnt get a loan!

Then last night i get a call from DFH (Debt Free Help) asking if they can help me, they arent a loan company but call my creditors up and freeze any interest payments etc, i pay DFH a reduced outgoing amount!
ill bring you up to speed

Additions £340.14
Kays £1082.62
Littlewoods £1253.90
Littlewoods direct £700.98
Marshall ward £348.19
Egg Card £6500.00
Vanquis £500
£10,723

My ourgoings to all of these are roughly £450 a month (which included the dreaded interest charges, DFH can reduce this to £180 a month freeing me up some money!

The question i want to know, is this company legit? they say they need an initial payment of £254 then after that my payments will be just £180 a month for a term!
Am i going to get stung or is this company really out to help me?

thanks for any help folks,iv post the address of this company as well:

FREEPOST: RLYX-SYRC-KUJK
DFH Ltd
Manchester House
84-86 Princess Street
Manchester
M1 6NG

saxo_appeal

Here is their website, it looks legit enough but im asking it on here for the reasurance
http://www.debtfreehelp.co.uk/

massivedebts

Hi
I'm no expert, but it sound to me as though they are talking about a DMP (Debt Management Plan) lots of companies offer them and usually charge for the service, however Payplan and CCCS offer them for free! I'm just about to start my DMP with CCCS on 1st April.
Hope this helps
Good luck with your DF journey
MD xx

saxo_appeal

Yeh they said with that payment of £180 i make every month, they take £35 i think!

MrsTinks

Why would you want to pay a bunch of cowboys for a service you can get better for free

DO NOT use them. They are scum... they are worse than money sharks - they actively search out people in debt and promise them the world... Once they have your money the likelyhood of them doing anything is slim and many people have been on here about similar companies who they have paid but who have not paid their creditors...

If a DMP is the right way forward for you then use one of the free services in my signature or you could go solo and do it all yourself if you feel up to it.

And they CAN'T guarantee your creditors freeze interest... NO-ONE can guarantee that - the services like CCCS have a higher success rate at it because they are industry recognised and it is known that they don't take a cut so ALL your payment goes to the creditor - and creditors trust them.

massivedebts

saxo_appeal wrote: »

Yeh they said with that payment of £180 i make every month, they take £35 i think!

Exactly!! Why not do the DMP with CCCS or Payplan and then that £35 will go towards paying off your debt too.
Take a look at the DMP Mutual Support Thread, they're all fab people on there and it'll help you understand DMP's a litte better.
Good luck, and please don't go with them when you can get the same service elsewhere for free
MDxx

MrsTinks

Another thought... they called you... so if I call you and offer you a stunning deal on a new driveway which my mates will come round and do for you would you hand me the cash before I started work, had checked my previous jobs, checked I wasn't a cowboy and had some way of making sure that I was actually going to do the work? Especially if round the corner your mate Bob, who's a pro at driveways, can do the same job for free because you're good mates - all you have to do is do a little of the work yourself like help him carry stuff

saxo_appeal

So will i go with the Payplan one? im on their website just now filling the calculatior thing in

thanks for the help folks, its much appreciated!

MrsTinks

Payplan, CCCS or CAB (or even christians against debt I think they're called...) - different people prefer the different services

saxo_appeal

Mrstine,

So if i go with the Payplan one, will they charge me for a start off fee or anything like that? Or will they just consolidate my finances contact the companys and ask me to pay the (whatever payment) at the end of each month?
like with DFH they asked for an initial payment of £254 then after that i had to pay £180...will Payplan as for an start fee?

saxo_appeal

Ah ok, i see....sorry bit new at this (newbie)

ill give Payplan a try and see what they say, iv filled their form in and await a call from them!

thanks all