Debt management company advice please

Chipmunk_2

Have been in touch with a company regarding my debt as I am 60 pounds in the red each month. This comapany will reduce my debt to 441 pounds a month for 4 years by contacting my creditors and making an arrangement with them.
The debt management company take 64 pounds from the 441 as their payment and the rest goes to my creditors.
Is this to good to be true? Any advice would be so much appritiated.

Thanks Chip

elona

Don't do it - the £64 a month could be paying off your debts.

Use payplan or the other free company instead.

Someone more knowledgable should be along any minute.

lynzpower

Yep.

If you need this sort of DMP, they come free from payplan or CCCS

Dont pay for it!! They are the worst scum on the planet!!!

System

Agree entirely. Use Payplan or CCCS. They are free and in actual fact, the creditors prefer to deal with these because they dont charge fees and all the money you have available goes to paying off the debt.

Donedoingdebt

That £64 per month adds up to £3072 over 4 years which could have been used to pay your debts & bring your debt free date forward by a fair bit.