Paying for DMP?

missamoo

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

HELENC1984_2

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

CCCS will do the same thing for nothing, and take less time.

Tixy

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!).

Pott5y

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