Debt Consolidation

ErikaRex

I'm considering working with a debt consolidation company to help me manage my debts, I've been in contact with Baines and Ernest and Pay Plan, both said they require a minimum £80 per month, but I don't know anything more yet.

Can anyone share some advise or tips on this option and these companies or ones that would be recommended?

Thanks

Grumpelstiltskin

Welcome to the DFW forum.

First thing you need to do is read this.

https://forums.moneysavingexpert.com/discussion/2077631

The next thing is not to touch Baines and Ernst with a bargepole, why?
They charge you.

You do need to use one of the free debt charities if you do a DMP.

Try CCCS as well as Payplan.

Tixy

The £80 limits referred to are the minimum you need to be able to afford towards your debts a month to go on a debt management plan with most places (both free providers or commercial providers). But as said definitely make sure you choose a free provider, that is one of the charities or Payplan.

If it turns out that your financial situation mean you cannot afford £80 a month towards your debts then CCCS or one of the other charities will be able to offer you advice on dealing with your debts yourself and provide template letters etc for you to send to your creditors.