Debt management plan

emskyxx

I have decided its time to get my debts in order, I have 9k debt and am currently not working due to illness, I don't really know where to start. My question is, can anybody recommend a decent DMP company? There is so many of them I just don't know who to choose. Thanks

lillibet_dripping

Hi Emsky,
Sorry to hear of your illness.
Can't offer much contructive advice except DO NOT GO WITH A FEE PAYING COMPANY. I have been with Payplan for 4 months now and highly recommend them. Also, CCCS are extemely helpful. Maybe start with CAB.
Well done for taking the first step which is recognising that you have a debt problem.
Keep us posted on your progress.
Good luck

Grumpelstiltskin

As Lillibet said do not touch any fee cherging company with a Bargepole.

Read this first and it tells you where you can get a debt management plan for free.
https://forums.moneysavingexpert.com/discussion/2077631

Time_to_face_the_music

emskyxx wrote: »

I have decided its time to get my debts in order, I have 9k debt and am currently not working due to illness, I don't really know where to start. My question is, can anybody recommend a decent DMP company? There is so many of them I just don't know who to choose. Thanks

CCCS or Payplan, nothing to pay and every penny goes towards paying back your debts.

Good luck emskyxx

Gimpsdad

As balance, make your own mind up, perhaps people may want to look at http://www.iva.co.uk/forum/topic.asp?whichpage=0.85&TOPIC_ID=45035&#450102
and http://www.iva.co.uk/forum/topic.asp?whichpage=3&TOPIC_ID=43938&#450096 before you start calling organisations "free" and "impartial"

Certainly worth chatting about, even if you are of an opposite viewpoint.

paulmapp8306

There talking about Payplan not CCCS - AND there only talking about IVAs adminisrered by Payplan.

A DMP is different, and while I cant speak for Pauyplan - CCCS is certainly free with every penny going to pay your debts.

dancingfairy

You may qualify for a DRO (debt reudction order). Basically it's a mini form of bankruptcy for those that owe a relatively small debt (under 15k ) (I appreciate 15k is huge for most people though but compared to 20,30 or 40k it's realtively small). It may be a better solution than paying a small amount into a dmp for a long period of time.
CCCS or National Debtline or your local CAB should be able to advise you if this is something which would be suitable for you.
df

plum44_2

CCCS are highly recommended on this forum by others in the same situation as yourself. You can check CCCS out online- they are free and and will certainly be able to advise you.