First time poster

Rossy2692

Hello all,

I am posting on here but I know i am beyond help now.

I have a DMP in place with ALLCLEAR but since coming on here I have found that there are free DMP available, as I have to pay a fee.
The debt they are sorting is £22,500, we also have a secured load of £75,000
so as you can see I know that the situation is pretty hopeless. We have discussed selling the house and rent to help get rid of the secured, but that iis a long way off as we will have to do this house up to get top price. I try to stay positive but this is really draining me now.

Thanks for listening.

Crown

Hi Rossy, and welcome

I dont think beyond help is the right way to look at it as there may be something that can be done. Have you checked the terms and conditions about leaving AllClear? How long have you been signed up with them? There is normally some type of cooling off period.

You may still be able to get advice from the CCCS but tell them that you are on a DMP currently but wish to switch as you didnt realise that they offered the same service for free.

The negative part is the secured Loan. Once this loan was taken out then the only way I know of how to clear it is to pay it off or sell up. My family have also fallen into the consolidation trap and now have a hefty £110,000 Mortgage plus a secured Loan of £9000 on top of that.

Many of us are in the same predicament that you find yourself in so try not to beat yourself up over it.

You may wish to read the first time posters thread at the top of the board and post a SOA where we may be able to offer you some money saving advice but please do check those terms and conditions of pulling out of the Allclear dmp

yellowmonkey

Hi.

First of all welcome and well done on posting. DO NOT pay any fees to these company,s. I dont know how it works but surely you can cancel and go to one of the free ones.
I am with Payplan and i know that every penny i pay them goes towards my debt. Why should you pay these leeches any thing when you can get it for free.

Secondly you are NOT beyond help at all. You are strong enough to face up to your problems and deal with them.
This is a great place for advice and support and you will get it no problem.

Good luck and well done

ym

Storm

Rossy2692 wrote: »

I am posting on here but I know i am beyond help now.

No you're not - you've taken steps to address the debt by going on the DMP, and have now found there may be a more effective way - this is being proactive and taking control, no way beyond help!

Rossy2692 wrote: »

I have a DMP in place with ALLCLEAR but since coming on here I have found that there are free DMP available, as I have to pay a fee.

Yep, they're a bummer the fee-taking companies, but you should be able to move your DMP to a free one

Rossy2692 wrote: »

The debt they are sorting is £22,500, we also have a secured load of £75,000 so as you can see I know that the situation is pretty hopeless.

Not hopeless at all, on here people have a wide range of debt levels, and you are by no means the highest!

Rossy2692 wrote: »

We have discussed selling the house and rent to help get rid of the secured, but that iis a long way off as we will have to do this house up to get top price.

How much equity is there in the house? if you do sell will it be enough to clear the mortgage & secured loan?

Rossy2692 wrote: »

I try to stay positive but this is really draining me now. Thanks for listening.

We all have good & bad days, but you've already taken steps to clear the debts, so you should feel "Proud to be dealing with my debts" as the board's slogan says - and as for listening, you're very welcome, that's what the board's here for!

Storm x

catewithers

Don't beat yourself up - you're totally not beyond help and you've already made some positive steps to sorting out your finances. Hang in there and keep posting here - you'll get loads of support. Welcome!

rayday2

Apart from all our debts (below) we secured a loan over 10 years of 12,000 and have a mortgage of 52,000. In my head I just treat the secured loan as a second mortgage and yes it lowers the payments below get but it means we stay in our house and in 9 years or less time we have a bit more to offer!

I am doing my own DMP with all the letters and payment calculators on the national debt helpline website, so cannot advise really what to do apart from read through all the initial information they posted out to you see if there are any clauses.

I am glad I found this site too as I think my MIL is heading for an enormous fall and it is nice to know there are companies out there who can do it for free for her.

hypno06

Hi there, give CCCS or payplan a call. They will soon be able to talk you through the practicalities of moving away from allclear.

As for the level of debt, put up an SOA as per southernscouser's sticky at the top of these threads, if you feel like it, and the great DFW community will be able to come up with some ideas to make things a little easier for you.

Keep posting, you will get loads of support and help here.