DFH Financial Solutions...think I have made a mistake

Hi I need some advice real quick because I am really stuck and dont know what to do...

For the past year I have lived on my own and watched as my finances went totally out of control and it has come to the stage where I am robbing Peter to pay Paul but now Peter has no money left.

On Tuesday it all got too much and I realsed by the end of this week I would have no money left at all to pay anyone, so I searched for help and came across DHF.

I rang them and to be fair they at the time really eased the pressure and worry, after a discussion they offered to lower my payments to £193 a month whereas I was oaying £854. I was amazed, relieved, all they needed was a payment of £273 pounds to get the ball rolling, so I gave them authorisation to take this money out of my account on Friday which was a full weeks wage...

Now Ive found this website and many negative reports regarding DFH I am starting to panic that I have not made a really big mistake...

I have always paid my bills on time but Ive just literally ran out of money my outcomings are far greater than my incomings. Im really scared that Ive thrown my last bt of money to a bad organisation and now I have just let myself in for more worry and stress.

Can anyone advise me, even a few words of encouragement just to make me feel better.

I am aware after reading this site that there are non profit making organisations...but at the end of the day all I want is help and peace of mind...

Thanks

Lee

Comments

  • di3004
    di3004 Posts: 42,579 Forumite
    Carter25 wrote: »
    Hi I need some advice real quick because I am really stuck and dont know what to do...

    For the past year I have lived on my own and watched as my finances went totally out of control and it has come to the stage where I am robbing Peter to pay Paul but now Peter has no money left.

    On Tuesday it all got too much and I realsed by the end of this week I would have no money left at all to pay anyone, so I searched for help and came across DHF.

    I rang them and to be fair they at the time really eased the pressure and worry, after a discussion they offered to lower my payments to £193 a month whereas I was oaying £854. I was amazed, relieved, all they needed was a payment of £273 pounds to get the ball rolling, so I gave them authorisation to take this money out of my account on Friday which was a full weeks wage...

    Now Ive found this website and many negative reports regarding DFH I am starting to panic that I have not made a really big mistake...

    I have always paid my bills on time but Ive just literally ran out of money my outcomings are far greater than my incomings. Im really scared that Ive thrown my last bt of money to a bad organisation and now I have just let myself in for more worry and stress.

    Can anyone advise me, even a few words of encouragement just to make me feel better.

    I am aware after reading this site that there are non profit making organisations...but at the end of the day all I want is help and peace of mind...

    Thanks

    Lee


    Hi Lee
    Sorry not heard of these myself, but maybe others have and will give some postive feed back on this.

    I take it you signed up with these then?

    How long did the process take on this?
    I didn't think they could start straight away and assumed there would be a cooling period on this type of thing, in case you changed your mind.
    I could be wrong though, with not knowing how these companies work.

    Have you any paperwork on the company?

    If in any doubt maybe you could contact the Office of fair trading (OFT), see what they have to say, but other than that someone will post up to give some info on this for you, good luck.
    http://www.oft.gov.uk/contactus

    You could however, consider the CCCS here:
    http://www.cccs.co.uk/

    Or
    http://www.payplan.com/

    Or
    http://www.nationaldebtline.co.uk/

    These are all free organisations as well as your local CAB, you could also contact your CAB on the company you are curious about as well.;)

    Good luck.
    The one and only "Dizzy Di" :D
  • angelicmary85
    angelicmary85 Posts: 4,977 Forumite
    Hi Lee,

    Well done on trying to take control of your finances.

    I've not been in a situation where I had to use a company to help me sort my finances out but as far as I'm aware you can give them 30 days notice to terminate a contract you have with them (I'm assuming they're charging you evey month for taking your money?)

    Then, you need to post your SOA up here so we can see if there's anyways in which you can reduce your outgoings to help with your debt.

    http://www.makesenseofcards.com/soacalc.html
    Started PADdin' 13/04/09 paid £7486.66 - CC free 02/11/10
    Aim for 2011 - pay off car loan £260.00 saved
    Nerd No. 1173! :j
    Made by God...Improved by the The Devil :D
  • mrcow
    mrcow Posts: 15,170 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    You also need to give CCCS (or similar) a call. They will help you sort this out in a similar way - but won't charge you for the privilege.

    The sooner the better.
    "One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
    Because by then you've blown your chances. That's it."
  • poorandindenial
    poorandindenial Posts: 4,097 Forumite
    Hi there

    Just echoing what mrcow said really. You can break this agreement and CCCS, CAB, National Debtline etc can all help you to do this and will all have helped people to do this before. They will then help you and do it all for freeeeeeeee.

    Oh and from stories on here it seems that your creditors are more likely to accept DMP offers from the free orgs
    £34,547 (Dec 07); Current debt: £zilch (Debt free December 2010)
    Sealed Pot #389 (2010=£133)
  • Carter25
    Carter25 Posts: 11 Forumite
    Thanks...Tried the CCCS website and they advised bankruptcy which obviously is the last thing I want...
    Cant believe I have been so stupid just handing my card over like that!
  • 10past6
    10past6 Posts: 4,962 Forumite
    You need to cancel the agreement you set up with DHF asap, in the meantime, post your SOA via the link in post 3, that'll give the members a better view of your finances whilst trying to assist you.
    Click here for Martins (MSE) advice on who to contact with Debt Issues - YOU HAVE NO REASON TO USE A FEE PAYING DEBT MANAGEMENT COMPANY- THEY CANNOT DO ANYMORE FOR YOU THAN THOSE LISTED IN MY LINK ABOVE.

    All information given by myself is offered informally and without prejudice - if in doubt seek help from a qualified and insured professional
  • mrcow
    mrcow Posts: 15,170 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Carter25 wrote: »
    Thanks...Tried the CCCS website and they advised bankruptcy which obviously is the last thing I want...

    If you are being advised bankrupcy, then really, have a think about why that is.

    It is frightening, but they wouldn't be suggesting it unless your situation dictated that this would be your best option.

    Give them a call in the morning. There is no pressure, and they are very helpful. Have a chat through what the options are.

    The problem is that if you're going to try and sort it out a different way, it may take you longer, cost you more and put you in for years of more stress than is necessary.
    "One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
    Because by then you've blown your chances. That's it."
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