DFH - Debt Free Helpline Management Prog

KathieM

Hi All

I applied for a loan today with DFH - was told that my credit rating was abysmmal (i knew this) and that the loan was rejected. I've opted for a debt management programme to finally get myself together reducing my payments from around 650 to 300 - Just wondering what peoples experiences were with DFH or similar companies? And whether or not i'm doing a stupid thing here

Feeling quite desperate with my financial situation and I keep missing payments which is just making things worse

fatbelly

They're basically IVA-pushers.

Take Martin's advice here

If you're looking to get debt-free then the debt-free wannabee forum is where you should be posting.

You're not doing a stupid thing. But you may not be doing the best thing (for you)

~Beanie~

If you are going down the Debt Management Programme route then don't do it with this Company. They will charge a fee and take a percentage of your monthly repayment for themselves.

CCCS or PayPlan can set you up in a DMP for FREE and every penny of your repayment will go towards repaying your debt and not lining the pocket of some profit making company.

KathieM

Apologies for the wrong forum posting - I'm a definite newbie!

And thanks for the advice - will look at payplan tomorrow - just want this debt to go away!

fatbelly

Try CCCS's debt remedy

hayley.w22

HI there.
This is my first time posting on here.. but i have agreed to the same debt consolidation plan with DFH. I have been second guessing about following through.. However, i have already changed my bank account as advised & cancelled a few direct debits, if I was to cancel now, im afraid i would end up in a worse situation!
At the moment DFH seems like the easiest plan for me, affordable monthly payments & creditors off my back. I realise they have fees, but it is still easier than dealing with them myself, as i seem to be getting nowhere & missing payments..
All im really wondering is if anyone knows how badly this debt consolidation thing will affect my credit rating (which is TERRIBLE anyway!) ... I just want to know if iwill be able to get a mortgage in a few yrs when i am debt free... which should be in 2yrs 8months??
Any advice is greatly appreciated Thanks.. and sorry for the biography..was meant to be a few sentences long!

Apples2

Your poor credit history will plague you for 6yrs.

fatbelly

And you'll get debt-free faster with a fee-free provider. With DFH only a proportion of your monthly payment will go to your creditors but with CCCS/Payplan the whole of it does.