We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Possible Bogus Debt Management Company
Hania
Posts: 3 Newbie
Hello
I was in a DMP with a debt management company who were very good & dealt with creditors promptly. I got an automated phone call in April from a company offering a debt solution & I spoke to them. They said they could get me debt free more quickly & pay £100 less per month than to my current DMP. It sounded good, a rep came by with papers to sign, letters of authority etc. I set up SO form 1 May & it seemed all kosher until about 6 weeks later creditors kept calling me about payment arrears. Each time I called this other "DMP" company they said letters had been issued & payments would be made once they say the agreements from creditors. It is now August & I am constantly being called about arrears. I tried calling this other DMP today & the number "is not recognised". This confirmed my fears that they may not be legit!!
I have contacted the original debt management company & they will reinstate my DMP asap & advised that I try & find out if anyone else has dealt with this other company who say they are backed by the Ministry of Justice. What can I do? Thanks
I was in a DMP with a debt management company who were very good & dealt with creditors promptly. I got an automated phone call in April from a company offering a debt solution & I spoke to them. They said they could get me debt free more quickly & pay £100 less per month than to my current DMP. It sounded good, a rep came by with papers to sign, letters of authority etc. I set up SO form 1 May & it seemed all kosher until about 6 weeks later creditors kept calling me about payment arrears. Each time I called this other "DMP" company they said letters had been issued & payments would be made once they say the agreements from creditors. It is now August & I am constantly being called about arrears. I tried calling this other DMP today & the number "is not recognised". This confirmed my fears that they may not be legit!!
I have contacted the original debt management company & they will reinstate my DMP asap & advised that I try & find out if anyone else has dealt with this other company who say they are backed by the Ministry of Justice. What can I do? Thanks
0
Comments
-
Hania - Go back to Payplan immediately, all of the money you pay to them will be paid off your debt. If you have difficulty with the amount you are paying Payplan, ask them if you can reduce the amount.
Unless you tell people who the other company are, how can anyone say whether they have dealt with them?0 -
Not sure who you were with originally but make sure you're using an organisation that doesn't charge you a fee for the DMP, which ensures all your money goes towards your debts.
See this thread that lists organisations to contact.Debt Jan 2008: £45,566. *** June 2013: DEBT FREE! ***
Paid back just under £50,000 due to some interest added.
Dealt with my debt through a Step Change (CCCS) DMP.
DMP Mutual Support Thread Member #240.0 -
"Backed by the Ministry of Justice"??? That smells of fish alone, never mind everything else.I refuse to be afraid of the big bad wolf, spiders, or debt collection agencies; one of them's not real and the other two are powerless without my fear.
(Ok, one of them is powerless, spiders can be nasty.)
As of the last count I have cleared [STRIKE]23.16%[/STRIKE] 22.49% of my debt.
0 -
This is a common problem. Although i have not seen them offer to pay less before, DMPs are informal so you pay what you can afford anyway. The lower the payment the longer the debt lasts anyways, its not like its an insurance quote.
Simply put stay away from any firms that charge for a DMP. Those that charge for it actually have proven to give a sub-standard service and keep you in debt. Remember they ring you for their benifit, and they only get paid if you are in debt.
Get back to a charity DMP and consider it a lesson learned.Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards