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Paying for DMP?

missamoo
missamoo Posts: 204 Forumite
in Debt-free wannabe
My husband contacted a company on Friday and they are sending us a pack to set up a DMP and said they will charge us £35 ish a month for the privilege - is this a normal fee?

The debt is £7,000 to be paid over 3.5 years.

Thanks
I'm playing all the right notes, just not necessarily in the right order!

Comments

  • HELENC1984_2
    HELENC1984_2 Posts: 33 Forumite
    Nope!!! CCCS or CAB or National Debtline i believe!! i am with DFH and they charge for the priviledge but there are plenty of charities out there that will help you out

    plenty of posts coming i am sure to say something similar!!

    xx
  • JT87
    JT87 Posts: 5 Forumite
    CCCS will do the same thing for nothing, and take less time.
  • Tixy
    Tixy Posts: 31,455 Forumite
    Hi

    Have a read of this and contact one of the charities listed IMPORTANT - Where to seek professional impartial advice about your debts
    They'll make sure you understand all the implications of a DMP, and if they recommend that one is suitable for you they will run it for you for free (and probably better than the fee-charging company!).
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • Pott5y
    Pott5y Posts: 504 Forumite
    Hi

    Just noticed Tixy has already replied with the link I was going to paste.

    Do not whatever you do pay for a DMP. The money you pay them in fees (£1500 over 3.5 years in this case) can go a long way to paying off your £7000 debt a lot quicker.

    Speak to CCCS, CAP or Payplan.

    Good luck
    adde parvum parvo magnus acervus erit
    Add a little to a little and there will be a great heap     ;)
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