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
Debt Management
hannah01
Posts: 26 Forumite
I am with a debt management company at the moment and pay a fee of £50 a month to them, is this too much?
0
Comments
-
Yes, it's about £50 too much. There are companies that will deal with it for free - CCCS/Payplan/CAB/CAP, or you can do it yourself. Please stop paying a company, that's money that could be coming off your debt every month.Unless I say otherwise 'you' means the general you not you specifically.0
-
Details of the organisations mentioned in Ames' post plus other useful information is available in this thread about where to get impartial advice on debts.
Definitely stop going with an organisation that charges a fee - that £50 can go towards your debts instead.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 -
Hi Hannah,
Yes, it's way too much as you want all your money to go towards your debts. Do as the others have said and contact the consumer credit counselling service or payplan etc. Tell the other company to get lost and get debt free quicker.If you've nothing decent to say, perhaps you shouldn't say anything.
£2 savings jar £300:D
Total credit card debts £1250:mad::mad::mad::mad::mad: - Will I ever learn!!0 -
Just chipping in to agree with everyone above. Why pay for what you can get for nothing.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 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