I think it's time I joined DFW...

unimaginative_user_name

It sounds like you've already made a good start.

I think the point about having your current account and your credit card with the same institution is that if you fail to make payments to your card the money may be taken out of your current account.

As for Sky it probably depends how much you use it. If finances aren't too tight and it means you save on other entertainment you might want to keep it. On the other hand if you got rid of it or reduced the package that £39 could go to clearing your expensive debts quicker. Perhaps at the same time as you keep a spending diary you could keep a 'sky diary' just to see how much use you get out of it.

beadgirl87

Hey,
The management company was asking you to change bank accounts due to 'right to offset' if you go with anyone I think they will ask you to change, I know Payplan does.
this is as if you stop making contractual payments to halifax, and they see your wages go in, they can take that money out to pay off a credit card or loan with them.
Also if you have an overdraft, by getting a new bank it can be a good way to start afresh and treat the old overdraft as a creditor to pay off.
I was recommened this when my overdraft was £1500 and didn't get a new account for ages, as soon as i did I found it alot easier to manage the overdraft and it's nearly paid off now.
Hope this helps!

Andos_2

Thank you...

Moving on then - Do people recommend a payment plan like payplan?

I'm not sure whether to put my trust in others with my credit..

Angry_Bear

If you are managing the minimum payments on your debts, and can overpay (even a little), I'd personally recommend not going with a payment plan. Look up the snowball calculator and see how quickly overpaying could reduce your debts. This will allow you to keep a clean credit rating which may allow you to improve mortgage offers and/or switch to 0% cards in future.

On the other hand, if you can't meet your minimum payments, then a (free) DMP provider such as Payplan or CCCS seems to be the most recommended way to go. This will trash your credit rating, but if you can't meet your minimum payments it will get trashed anyway. Do not pay for this service!