Debt management plans - experiences?

Tixy

Based on the info given on your debts and if you can afford the £250 a month (and the DMP co agrees that you can afford that) then with the free DMP providers your intital estimated timescale would be around 4years (as it assumes all creditors freeze interest straight away). If that doesn't happen then the estimated term of the DMP would increase.

Sagittarius

Thanks Tixy. I'm leaving the office just now, so plans for tonight are to firstly call the National Debtline then possibly Payplan and/or CCCS.

BlushingRose

Sagittarius wrote: »

Thanks Tixy. I'm leaving the office just now, so plans for tonight are to firstly call the National Debtline then possibly Payplan and/or CCCS.

As has been said before, pop to the CCCS website http://www.cccs.co.uk/ and go through their debt remedy tool. It's basically a SOA and will advise you on certain amounts to put down for some things. It will then advise you on whether the CCCS feel you should do a DMP or whatever.

Sagittarius

Thanks all. Just wanted to give a quick update for those that helped me - I called the National Debtline last night and they told me I had the following options:

Self negotiation
Assisted self negotiation ('cashflow')
DMP
IVA
Bankruptcy

Have any of you tried the first two options? Would it be easier to just do a DMP in your experience?

They are going to post me all of the information so that will probably cover my questions but just thought I'd ask here as well in the meantime.

I will certainly visit the CCCS website and also would like to speak to Payplan too.

Thank you all again - this has been a big help already in getting me started at least.

sickasachip13

Free for definite. I've changed my mobile contract twice while on DMP, no probs. We're with CCCS for 16 months now, on a DMP, they've been fabulous. They have an online debt remedy tool that's useful. We had 19 creditors, 17 stopped all %, the other two charged only a tiny amount of %. I did a short blog about it all for CCCS, if you wish to read it then google the info in my sig and you should locate it.
Have a look at the DMP Mutual Support Thread (latest version is around and the next oldest version too) you could find really useful as the same questions do tend to come up frequently as these are people's greatest concerns I guess.
Best of luck
SAAC

Sagittarius

sickasachip13 wrote: »

Free for definite. I've changed my mobile contract twice while on DMP, no probs. We're with CCCS for 16 months now, on a DMP, they've been fabulous. They have an online debt remedy tool that's useful. We had 19 creditors, 17 stopped all %, the other two charged only a tiny amount of %. I did a short blog about it all for CCCS, if you wish to read it then google the info in my sig and you should locate it.
Have a look at the DMP Mutual Support Thread (latest version is around and the next oldest version too) you could find really useful as the same questions do tend to come up frequently as these are people's greatest concerns I guess.
Best of luck
SAAC

Thanks so much, I'll definitely have a look at your blog and those threads too!

I think what I've found now is the issue I'll have to tackle first is my joint loan with my ex as I don't want to enter into a DMP without informing him because it will affect his credit rating by the looks of it. So have to get over that hurdle first which won't be easy but needs must!

sickasachip13

Hi,
Yep, that's a tricky one. Are you on good terms with him? What size is the loan? How do you currently both pay it? Do you know what state his credit history is?
Sorry for the all the q's!
SAAC

Sagittarius

sickasachip13 wrote: »

Hi,
Yep, that's a tricky one. Are you on good terms with him? What size is the loan? How do you currently both pay it? Do you know what state his credit history is?
Sorry for the all the q's!
SAAC

We're not on absolutely terrible terms, but they're not exactly good either. The loan is roughly £13-14k. Currently we pay it 50-50, I transfer my half to him monthly and then the instalment comes out of his account. His credit rating was excellent when we split up and I'm not aware of any reason for it to have changed now.

sickasachip13

Oh dear, it's fairly sizeable then. I was hoping it was small! I guess you're going to have to speak to him then..... there's no easy solution to it. If I were you then I'd speak to Payplan and CCCS and see what they suggest. Or, you could ring National Debtline - they don't provide DMPs but are great for advice and see what their thinking is.
SAAC

sickasachip13

D'oh, ignore me, I just read your other thread. Best of luck with everything.