Are DMP offered by Payplan and CCCs etc really free?

gingersilverfox

I_was_a_fool wrote: »

I simply do not believe this to be true. I would require more than 2nd hand anecdotal evidence to be convinced of that.

I had first hand evidence. I am just presenting the facts. The earth is not flat!

AGB863

In my experience people ask for advice on bankruptcy as they are not aware how to go about it and they want to find out exactly what happens through the course of bankruptcy.

As for targets LOL:rotfl:

I would like to see your evidence for such a comment.

We may be experts but you can not make people do something that do not want to do!!!

livinginhope

I think I recognise GSF as another user who has often started this debate I may be wrong,but they wouldn't admit it anyway :rolleyes:

I would just like to point out to lonely that an IVA is not as easy to get accepted as they think,you need to be able to repay at least 25% of the debt back in around 5 years,if you do not have enough income for this then it will not be accepted,also 75% of your creditors have to agree to the IVA,if you have 3 or 4 debts with the same company,this could cause problems.Sometimes a DMP is the only option.I only realised the other day that I am actually solvent the equity in our home easily covers the debt,but as I cannot move a DMP is our only choice my DMP has nothing to do with wanting to repay every penny back,but everything to do with keeping my sanity :rolleyes:

I think this thread is going to put a new poster off calling some of these companies for help,which would be a real shame.

LIH

gingersilverfox

AGB863 wrote: »

In my experience people ask for advice on bankruptcy as they are not aware how to go about it and they want to find out exactly what happens through the course of bankruptcy.

Those who are in the mire of debt rely on accurate advice and are not able to see what the best solution is. If you are an advisor advise don't rely on being ask by a confused debtor.

AGB863 wrote: »

As for targets LOL:rotfl:
I would like to see your evidence for such a comment.

Are not ex employees good enough

AGB863 wrote: »

We may be experts but you can not make people do something that do not want to do!!!

True. But experts do not go around blithely advising people debt managment, debt management.

AGB863

I wonder if GSF is a reincarnation of a certain T_Roll that used to wind up people until recently?

rayday2

I still don't see the point in the orginal posters comments. Has he personally done either?

If not then who is asking his opinion I certainly am not interested.

The success of this part of the forum is that we are all in it together and don't pass judgement.

gingersilverfox

I can appreciate that you may feel intimidated if someone challenges your main beliefs , which are that free DMC are whiter than white and that no one should challenge their very existence. But challenge them I will. I am not saying that people should stop using them, far from it. But are they creating a rod for future generations?


Again my points are

gingersilverfox wrote: »

My arguments are:-
1. Expose the fees involved in generating a free DMP.
2. Make Debt Management a level playing field. The market will decide on what an appropriate fee is for this service.
3. Debt management companies which are sponsored by FI’s will favour the best solutions for their sponsors.
4. If all debt management companies were to charge a fee the customer would be king and the likelihood of credit forgiveness would be a reality.

Your thoughts

The world is not flat

rayday2

No one feels intimidated.

The facts are if you are in an IVA or DMP then it has taken a lot of soul searching and sleepless nights.

Unless you have been there you just cannot understand.

You are waffling on about nothing really, we know how long we have to pay and if that includes fees or not that is our choice.

The world is not flat, no nor are bananas!

gingersilverfox

LIH
I hope that you can shorten your 58 year pay back time. You are lucky that the creditors are allowing you to sit on your equity, in my experience this is rare. Trust me on this, when the house price inflation stops the creditors will come after you. If you have kept details of the advice you have received then you may have a legal claim against the company who initially advised you to enter a DMP.

Good luck

livinginhope

gingersilverfox wrote: »

LIH
I hope that you can shorten your 58 year pay back time. You are lucky that the creditors are allowing you to sit on your equity, in my experience this is rare. Trust me on this, when the house price inflation stops the creditors will come after you. If you have kept details of the advice you have received then you may have a legal claim against the company who initially advised you to enter a DMP.

Good luck

Oh what a load of gobbledeegook,go get a life and leave us to enjoy ours,until you know my full story,you have no idea what the hell you are talking about,the creditors can do absolutely NOTHING,other than put a charge on the house,but they can't do that without a CCJ and even then only if the terms were broken,so you are wrong,they cannot touch my house.
No company advised us to do a DMP,we just enquired about our options and chose this route as no other route suited our situation.
I am having no further input into this this pathetic thread.
LIH