cancelled my DMP with DFH

bluewagon_2

Hi folks, joined this forum last night after being on sidelines for a few weeks.
I am on a DMP with DFH who charge about £70.00 per month.
I have written to them today to cancel my plan and I have a phone appointment with CCCS next week to see about swapping over to them.
DFH have taken this months payment and I hope that they pay it over to my creditors.
I have also written to my creditors explaining that I am cancelling my plan to change to a FOC one and that my payments will still be sent this month and if not could they let me know.

Have I done the right thing, do I need to do anything else?

Also, is there chance that CCCS might not except me, if not, I will have to go it alone.

RAS

Hi

You could also speak to NDL, CAP or Payplan if CCCS cannot take you.

frazier

CCCS will accept you. Also have a look at Payplan, they are good and FOC as well.

[Deleted User]

Running one of these paid for DMP companies, sounds like a licence to print money.

Charging you £70pm, just to take in, and pay out, your money.

Also, I'd imagine they get bit of interest, while they've got it in their account?

bluewagon_2

yeah realise that I have been well and truly ripped off as they took two months instalments as fees too. I had no idea what a DMP was at the time but now feel pretty foolish after discovering this site.

RAS

hi

We all start where we are at the time.

You have learned and taken action. Be proud of that.

gingerbreadgirl_2

I joined a dmp with DFH last September with about £20k of debt. I currently pay out £619 a month and supposed to be paying this for the next 3 years. I have since realised that had I continued to struggle I would have paid off one of the loans by now and therefore freed up some funds to speed up paying off the the other loans. What would any of you do?

dancingfairy

I think I'd cancel with DFH, write to your creditors to let them know you're seekingadvice on your debts and then I'd see if it were possible to make any full and final settlements on the debts with the one months payments- maybe a small one?
I'd then set up a dmp with someone like Stepchange(or possibly consider other options).
df