Which is better DMP company: Eurodebt or CCCS

Andy-1_2

Hi,

I have over 45,000 outstanding on 8 credit cards. I have never missed a payment till today. But due to circumstances, I am looking at going into a DMP. I wanted some reliable advice that which would be the best debt management company to deal with. I heard that Eurodebt & CCCS are the two of the biggest and reliable companies in UK. I have met with Eurodebt advisor and all the information given to me has been satisfactory. But Eurodebt service is not free. They want me to stop all credit cards payment immediately and pay Eurodebt 600 per month for 3 months. They will then start dealing with my debt & credit card companies. Also they will deduct a percentage every month from the payment I make towards the credit cards till the total debt is cleared.

I also did some research and found out that CCCS is one the biggest companies in UK and will not charge for handling my DMP. Could I please get some sound & reliable advice as to which company would be better to tie up with for a DMP.

Thanks in advance.

Grumpelstiltskin

Looking at Eurodebt website they give a DMP example and they say this.

'Total estimated lifetime fees payable to EuroDebt = £1,176 + £4,080
(96 monthly fees) = £5,256'

So with CCCS Total fees £0, zero, nothing.

Where would you prefer your £5000 plus to go?

To a debt management company or your creditors?

mandyl

dont pay anyone to do a dmp go with cccs

Deep_In_Debt

Go with CCCS. They are free so all your money goes to clearing your debts thus making you debt free sooner and not lining the pockets of sharks making a profit from you.

You could also try Payplan who also offer free dmps.

Eurodebt will do no more for you than a fee free dmp company. From what you have written above it looks like you have to pay them £600pm for 3 months BEFORE they will even start dealing with your creditors - unbelievable. You could be using that money towards paying your debts instead.

Andy-1_2

Thanks to all of you for good advice. I will talk to CCCS.

Mort

as your fees will be wasted. I went with Payplan, their service has been good and it cost me nothing but a little time.