Churchwood Finance DMP help needed

JDClark16

Hi there,

For a while now I have had debts spiraling out of control, about a week ago I decided enough was enough and entered into a debt management plan with Churchwood finance.

They left me a message yesterday saying they had recieved my forms and would start getting into contact with my creditors.

This morning I have had no calls, which I usually would have had two or three by now. So I thought brilliant but then I had a look on here and i found a few posts saying that people had discovered their payments were not going to the creditiors etc etc. So am naturally starting to worry.

I do not pay my first installment untill my payday which is the 31st of this month. I was happy paying the extra because I was desperate and the monthly payments were comfortable.

I now understand that I could transfer to a charity who could do it for free. Should i be thinking of transferring now or wait a while and trust Churchwood will start sorting it out and keep the creditors off my back for a bit from chasing me for money that i simply dont have?

Any help or advice would be greatly appreciated, Thankyou.

Mothermercury30

JDClark16 wrote: »

Hi there,

For a while now I have had debts spiraling out of control, about a week ago I decided enough was enough and entered into a debt management plan with Churchwood finance.

They left me a message yesterday saying they had recieved my forms and would start getting into contact with my creditors.

This morning I have had no calls, which I usually would have had two or three by now. So I thought brilliant but then I had a look on here and i found a few posts saying that people had discovered their payments were not going to the creditiors etc etc. So am naturally starting to worry.

I do not pay my first installment untill my payday which is the 31st of this month. I was happy paying the extra because I was desperate and the monthly payments were comfortable.

I now understand that I could transfer to a charity who could do it for free. Should i be thinking of transferring now or wait a while and trust Churchwood will start sorting it out and keep the creditors off my back for a bit from chasing me for money that i simply dont have?

Any help or advice would be greatly appreciated, Thankyou.

Hi there JD

Before I start let me make one thing ABSOLUTELY CLEAR. I cannot comment in any way about the services that Churchwood Finance offer- I don't know them or how they operate. I assume, however, that they charge a fee for providing their services.

JD- PLEASE PLEASE PLEASE consider one of the free companies to arrange this for you- a DMP with them, if it is the correct option for you is free and all the money will be passed onto your creditors. CCCS, Payplan and the National Debt Helpline are all places that would be good to start. A no-brainer- why pay when you can get the same product for free?

If you would like an alternative angle on this subject, look for the thread called "APEX/DCM MONEY SOLUTIONS IN ADMINISTRATION". I assume that's what you are referring to in your original post. I am well qualified to comment upon this- I am one of the victims of their very novel "Debt Management".

Well done on having your "Light Bulb Moment". Let the people on these threads help you (They have helped me!), and don't rush into anything. I did, and I dearly, dearly regret it.

Mothermercury30

...I should also point out that I am NOT saying that Churchwood Finance will not pay your creditors. What I am saying, however, is that they will charge you for doing this.;)

theerroll

Hi,
I used churchwood for a time, they occasionly made small payments to my creditors never regular, they made no formal arrangements with my creditors and never paid as much as they said they would.

Stay clear please, use a free service or if u can, make arrangements yourself, but make no payments to churchwood is my advice to you.

Good luck .

Jinx

The charities are free and have a great reputation - please dont pay to get help when its available for free; its totally MSE to use a charity or do it yourself if you feel able

JDClark16

Thankyou both of you for your advice. I think I will take up a plan with a free company, I don't want to unnecessarily add to my debt. But as I have completed and signed forms for Churchwood, does anyone know how I go about terminating their services?

theerroll

Cancel any S/O or D/D payments to them and let them know you no longer require their service, even if it is contractual then you should have 14 days to cancel.

All the best