Help - National Debt Relief

dannynixon

Hi,

I have this morning registered for a Debt Management Plan with National Debt Relief.

I have just been wondering if anyone else has used/head of these and if they are ok to use? I have't commited anything yet so if not I could use another. If they are fine I will stay with them.

Any info would be greatly appreciated.

Thanks, Dan

dancingfairy

I've not heard of them - sorry. Are they charging you anything - any up front fee and will they be taking a montly cut? if so I would stay well clear and head to one of the free ones.
df

RAS

I thought the OFT had stopped companies who were purporting to be debt charities or official in any way, and were not!

These are the only people who should talk to http://www.moneysavingexpert.com/loans/debt-help-plan#help

other than Payplan.

have you signed anything or given them your account number?

dannynixon

Nope, just sending some stuff through the post. Yes they are wanting money upfront and a cut. I do have a client number though.......

I have £250 a month spare after the SOA so they want 25o to startup and then 15% a month.

I will stay well clear then and go with one of the other ones in the thread. I have signed nothing and not made any payments. Should I ring them and say not to bother continuing with it?

fermi

dannynixon wrote: »

Should I ring them and say not to bother continuing with it?

I wouldn't even ring them to be honest.

These companies will often tell HUGE fibs about the free services recommended here, and put pressure on you.

Set up a plan with CCCS or PayPlan, and if these people persist on contacting you then you can tell them to "foxtrot oscar".

Donedoingdebt

It's a typical private DMC.

They keep your first monthly payment as a setting up fee.

Then they charge 15% of your monthly payment as their management fee.

For example, say you pay £500 per month over 10 years. That's £75 per month in fees alone. - £900 per year - £9000 over the term of your DMP.

Don't go near them. Stick with one of the free charities/companies such as RAS suggested above & put that management fee towards your debt instead of lining someone else's pocket.

Donedoingdebt

fermi wrote: »

Set up a plan with CCCS or PayPlan, and if these people persist on contacting you then you can tell them to "foxtrot oscar".

LOL. Haven't heard it put that way before:rotfl:

fermi

RAS wrote: »

I thought the OFT had stopped companies who were purporting to be debt charities or official in any way, and were not!

You are thinking of this: http://www.oft.gov.uk/news/press/2009/26-09

RAS

yep fermi

I know it refers to webs-sites only but..

I do not think the OFT ever published details of which companies they had contacted.