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Help me beat Debt Management's Fee!
donatello_2
Posts: 37 Forumite
Hi,
I'm currently owe 8,000 to 2 creditors. I have been using a Debt Management Company for 2 years, they negotiate with my creditors, they have managed to freeze the interest for me, but take 17% of any money that I pay. If I stop using the company, the creditors will start adding the interest back on. Even though I have never missed a payment to my creditors, one has filed a 'default notice' on my record for not sticking to the original agreement, so my score is pretty shocking. Aren't they just the nicest folks?!!
Is there a cheaper way of doing this? and what is it?
I appreciate any experiences and advice.
Thanks
I'm currently owe 8,000 to 2 creditors. I have been using a Debt Management Company for 2 years, they negotiate with my creditors, they have managed to freeze the interest for me, but take 17% of any money that I pay. If I stop using the company, the creditors will start adding the interest back on. Even though I have never missed a payment to my creditors, one has filed a 'default notice' on my record for not sticking to the original agreement, so my score is pretty shocking. Aren't they just the nicest folks?!!
Is there a cheaper way of doing this? and what is it?
I appreciate any experiences and advice.
Thanks
0
Comments
-
yes, use the free DMP companies i.e. CCCS, Payplan or CAB0
-
Thank You CLAPTON
I've phoned the company and the ball is rolling!
Many Thanks0 -
well done
and I should have said that you may wish to look at the debt free wannabe board... lots of people there will experince and advice.0
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