DMP advice

STUCKINALOOP

Hi
I have been struggling with a relatively small amount of debt over the last year or so. Finally today I decided to do something about it and contacted the National Debt Helpline. They were very very helpful took all of the details of the people I owe money to and set up a DMP paying them £72.00 per month over the next 3 years.
I have discovered that out of this they take £30.00 as a fee each month and the rest goes to creditors. Should I stick with them? I have not signed anything or paid anything as yet but having looked at other posts it seems that the companies that do it for free are for people with much more debt than me. I owe around £1800 in total, not a lot I know but it has been at that level for a while while I fight off interest and late payment charges.

Is it worth trying people like CCCS to see if they can help? Any advice gratefully received

libbyjade

Hi stuckinaloop,

I have been with CCCS for 12 months and they were great to help set up a dmp for me. You do need to be mindful though that this charity is funded by the very creditors who get paid, so they do have a vested interest. I have cancelled my payments to them now though as I am trying to prove my credit cards unenforceable.

CCCS may also contact you every 12 months to establish your current budget to try to get more from you.

I'm surprised National debt helpline charge so much, I've had some great advice off them too but not set anything up with them.

Hope this helps... good luck !!

STUCKINALOOP

thanks, i will call CCCS this evening to see what they say. I know I can increase my payments to National Debt Helpline at anytime and their fees stay the same so if i decide to stick with them I will try and pay them as much as i can each month to clear it more quickly.

Thank you for your reply:)

RAS

Hi

This sound like somthing has gone very wrong.

You probably thoguht you were dealing with National Debtline



National Debtline: Full debt help service. Link: National Debtline Tel: 0808 808 4000 Opening times: M-F 9am-9pm, Sa 9.30am-1pm

Who are a debt charity that does not charge you a fee?
Get out of this deal and move to one of the debt charities ASAP.

STUCKINALOOP

thanks ras, i think you may be right. Will contact them this evening and post how it goes tomorrow.

Tixy

At £1800 you may find you don't have enough debt for a formal DMP managed by CCCS or national debtline. But that said its worth getting advice from them, you may be able to self manage your DMP with their advice (your creditors will probably be happy as they'll be getting that extra chunk each month.

(And £30 fee out of a £72 repayment is criminal in my opinion)

STUCKINALOOP

spoke to them last night and they were really helpful. Have an appointment with a counsellor on Friday afternoon who will go through things over the phone.
Will be cancelling the other one in the meantime. They didn't give me any indication of charges until i asked them!!

libbyjade

Good Luck! Hope they can sort something out for you. :T