some advice on DMP please

andyD_2

Hi, thinking of starting a DMP am very scared and nervous but glad to be finally sorting out my debts.

What is the difference between payplan and cccs do they offer the same service?

Also do the creditors confirm they will freeze interest not really sure how it all works.

Im just trying to build up the courage to go through with this!

Any advice would be great.

niccatw

Hi Andy

Welcome to the DFW journey! I looked into going on a DMP but in the end it wasn't the best option for me so I'm not one and perhaps can't offer as much advice as the many people on here who have been or are going through the process of setting up a DMP. CCCS and PayPlan are both debt charities and so the DMP they offer will be very similar. I guess it'll come down to personal preference.

I think most creditors will agree to freeze interset and this is negotiated through whichever charity you go with. But, asalways, there's usually one or two akward b*ggers to refuse to play ball. Just refer them back to your DMP charity and refuse to deal with them on the phone.

Both of them have loads of info on their websites, that might help you decide which you prefer.

Good luck with it .

lmclean100

andyD wrote: »

Hi, thinking of starting a DMP am very scared and nervous but glad to be finally sorting out my debts.

What is the difference between payplan and cccs do they offer the same service?

Also do the creditors confirm they will freeze interest not really sure how it all works.

Im just trying to build up the courage to go through with this!

Any advice would be great.

Hi

I started my DMP on 1 Dec 2009 with CCCS. I've had two of my creditors write to me to confirm that they are not charging interest on the debt any more. My other creditors (8) haven't written or contacted me since 1 Dec.

It was a bit scarey to start with as I thought I'd get lots of nasty letters but it's not happened. Feeling totally relaxed about it and getting on with life.

I'm not sure if there is a difference between PayPlan and CCCS to be honest. I spoke to both and thought that CCCS were 'nicer' but that's just my personal preferance.

Once you decide to go down the route of DMP you'll not regret it, believe me. It was the best thing I've ever done after joining this site of course .

Good luck

Tixy

Payplan and CCCS are similar in the DMP services they offer.

CCCS are a charity and are officially recommend by MSE. Payplan do free DMPs but are not actually a charity they are a commercial company.

Freezing interest is never guaranteed, but often many of your creditors will agree to it.

dmb_2

Both have good reputations. I'm with CCCS and started my DMP on 1 Dec 2009
. The reason that I chose CCCS rather than Payplan was that everything could be set up online without having to talk to anyone on the phone (although you can do that if you want).
It's scary at first but once its up and running (and it doesn't take long) life is a lot less stressful. Most of my creditors were very nice once I'd mentioned that I was on DMP. Others just wrote to say they had accepted. Phone calls do stop after a while.
Most of my creditors accepted and either froze or greatly reduced interest apart from Egg :mad: Anyway good luck. So many of us have been in same situation as you and we've all felt just as scared