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Advice Please
Hownowbrowncow
Posts: 6 Forumite
Hi all
This is my first time posting on here :wave:I just wondered if anyone could offer me any advice?
I am thinking about starting a dmp as my finances are in a mess
im not sure if im going to go with CCCS or Payplan, has anyone dealt with any of these companies and which one would you suggest?
Also how is the cost of how much i will be paying back the creditors permonth is calculated? (By this i mean how much will i be paying the dmp company per month)
Does it mean it mean all my disposable income will be counted towards the cost per month, leaving me with about £200 to live on? Im a little confused _pale_
One more thing
Will creditors always put defaults on your account whilst doing the dmp, and does this mean that my credit rating will not improve while on the plan? Can anyone help?
This is my first time posting on here :wave:I just wondered if anyone could offer me any advice?
I am thinking about starting a dmp as my finances are in a mess
im not sure if im going to go with CCCS or Payplan, has anyone dealt with any of these companies and which one would you suggest?Also how is the cost of how much i will be paying back the creditors permonth is calculated? (By this i mean how much will i be paying the dmp company per month)
Does it mean it mean all my disposable income will be counted towards the cost per month, leaving me with about £200 to live on? Im a little confused _pale_
One more thing
Will creditors always put defaults on your account whilst doing the dmp, and does this mean that my credit rating will not improve while on the plan? Can anyone help? 0
Comments
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With CCCS you do not pay them anything. They calculate a budget with you and then the remainder goes towards the debts. There will be limits to what you can spend each month on each category - so a limit of £x for food, £y for clothes, £z for travel, etc, but the advisor will go through that.0
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If you go to the CCCS website they have an online tool which you can use to work out yourself what they repayments are. I forget what it's called, sorry. But they are quite generous with the allowances, I was allowed more than I had been allowing myself for food etc!0
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Both have an excellent reputation.0
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