debt management plan

richard7772

i was wondering if any one could help i am currentley in a dmp i was told after 7 years it would be paid i have been in it for 5 years i recently got told that i still have 8 years left so i want to get out of it by getting a secured loan i have plenty of equity . would this repair my credit file and is there a way of getting a discount on money owed without paying a firm a lot of comission

dlb

Are you with a fee paying firm? I was to start with then transfered to Payplan who dont take a penny, was told 5 years to start with but due to some creditors adding interest and the fees the original dmp company took it has taken me 7 years...maybe worth looking at a free dmp company rather than taking on more credit?

Mrs_Arcanum

richard7772 wrote: »

i was wondering if any one could help i am currentley in a dmp i was told after 7 years it would be paid i have been in it for 5 years i recently got told that i still have 8 years left so i want to get out of it by getting a secured loan i have plenty of equity . would this repair my credit file and is there a way of getting a discount on money owed without paying a firm a lot of comission

Do not do this.

Definitely talk to CCCS or Payplan ASAP.