DMP hows it work

tracy24582_2

i need some info regarding DMP's and if they are done through another company helping you. do you have to be missing payments for the credit card companies to even consider stopping interest as i am making the min repayments but it is leaving me with no money to buy food or nothing and all my money is gone in 2 weeks, also i have catalogue accounts but i can pay them off myself as they are small amounts and so dont want them to be included in it but if i was in a DMP would they stop the accounts?? also i have an overdraft that i have never used would that get taken away??
Thank

Broken_hearted

If you go with a company all debts will be included. If you do your own it is possible to leave some accounts out of the DMP. Having not missed any payments you may find it difficult to get companies to agree to reduce payments and virtually impossible to get them to stop payment. I would go for a three month agreement to start with.

byebyedebt

Remember DM companies are there to make a profit. So you will be paying them commissions. You might pay off more if you look at your payments. Are you paying the most to the expensive debts first to clear them.

DarkConvict

Do not use a Fee paying company, go with CCCS or national debtline.

Numpty_Monkey

If you a going without food and the basic needs , the creditscard company's and their ilk go down the list of prriorities
you need to talk to one of these Non-profit Debt Counsellors' List
these don't charge a fee for running a DMP, if that is the best sollution for you

DO NOT contact any of the fee charging compaies that you see advertised on TV

and let us see if we can help:A
post your SOA up sometimes its a tweak in the budgeting that is all that is needed
use this http://www.makesenseofcards.com/soacalc.html