Are the money group any good??

EchoFalls1982

After getting a lot of payday loans (DO NOT GET THEM EVER PLEASE), I am in a rut. I need a good DMP and am thinking of doing one with the money group. Are they any good? The CCCS is isn't an option as I took out additional credit and breached their contract and neither is payplan as My debts are just under (for now) the total they require it to be before they can set one up for me. I know that the money group charge and I have to make 2 monthly payments to them before any even go to any creditors. Is this a good option for me to take? The payday loand are charging me crazy amounts of interest and I feel like I have no choice. It's really getting me down, can't sleep or eat properly or anything.

Culex

EchoFalls1982 wrote: »

After getting a lot of payday loans (DO NOT GET THEM EVER PLEASE), I am in a rut. I need a good DMP and am thinking of doing one with the money group. Are they any good? The CCCS is isn't an option as I took out additional credit and breached their contract and neither is payplan as My debts are just under (for now) the total they require it to be before they can set one up for me.

How about in a few weeks from now, after the payday loan parasites have added in the date to what they say you owe?

I know that the money group charge and I have to make 2 monthly payments to them before any even go to any creditors. Is this a good option for me to take?

No.

Try God-botherers Against Poverty unless you have a marked aversion to badly tuned acoustic guitars and/or tambourines.

SnowTiger

EchoFalls1982 wrote: »

After getting a lot of payday loans (DO NOT GET THEM EVER PLEASE), I am in a rut. I need a good DMP and am thinking of doing one with the money group.

Have you considered setting up a DMP yourself?

I helped a friend do this a few years ago with the help of an info pack containing templates from CCCS.

EchoFalls1982

I didn't realise that you could set up a DMP yourself. How would you go about doing that as none of the creditors listen to anything I have to say anyway!

Tixy

Setting up a DMP yourself is a viable option (although you might also want to consider CAP using the link culex gave).
There are template letters and information on the national debtline website. If you go the self managed DMP route keep everything in writing, don't be bullied by them and stick to what you know you can afford. You might also want to send the don't telephone me letters. There are a couple of useful threads on here I'll post links to......
Anyone organising their own DMP?
Letter to creditors when setting up DMP