DMP Advice

Aston83

Hi all,

I am considering starting a DMP with either Payplan or CCCS. I have debts of totalling nearly £15000 with 6 creditors. All of them are either Overdrafts, Loans or Credit cards.

I only have two questions:

1) Which one is best to go with and do they really work for the creditors?

2) One of the debts is a managed loan with HSBC for £6710. It is linked to an account with both mine and my EX wifes name on it. She still uses this account. It is not a joint account as such as she opened it years ago then added my name to it later. I would like to add it to the DMP as it would save me money and mean i can pay more towards my kids. However i am unsure of the effect it will have on my ex's credit rating or if the debt can be passed over to me entirely. I know that if i cannot afford to pay her the £155 p/m to cover it, they can dip into it and take it all. This would ruin her as she has my kids fulltime on benefits. I believe that out of Housing Benefit, Council Tax Benefit, Income Support, CTC and CB, Only income support cannot be touched by the bank. My question is: How would i deal with this debt? I cannot afford to pay it while its standalone.

Many Thanks