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Can you switch DMPs?
Legacy_user
Posts: 0 Newbie
Posting on behalf of someone I know!
Currently in a DMP with Harrington Brooks, total debt about 8k but fees seem quite steep (about 2k?) Anyways, been in DMP for about 2 yrs so far but never knew about the free DMPs... Also on closer look some of the creditors balances are now only a couple of hundred each so could now possible be paid in full when the overtime at work is available.
Advice on how to leave and who's best to go with?
(Hope this is in the right forum, apologies if not!)
Currently in a DMP with Harrington Brooks, total debt about 8k but fees seem quite steep (about 2k?) Anyways, been in DMP for about 2 yrs so far but never knew about the free DMPs... Also on closer look some of the creditors balances are now only a couple of hundred each so could now possible be paid in full when the overtime at work is available.
Advice on how to leave and who's best to go with?
(Hope this is in the right forum, apologies if not!)
0
Comments
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Hi, this is the right place.
Yes they can switch - and doing so would be a very good idea.
Any of the free DMP providers would be an option, suggest stepchange and payplan to them.
The alternative would be that some people switch to self-managing, paying their creditors direct with the help of template letters from one of the charities (national debtline website for example). That option isn't for everyone, you need to be confident enough to deal with creditors/debt collectors and not then bully you.
Get them to check out what notice period they need to give HB, it will likely be written notice of either a month or 2weeks.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
Yes agree with Tixy.
Go to a free DMP provider.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** in ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan. 19months left.0 -
Thanks guys. Info on the way in the post from National Debt Helpline so hopefully my friend can switch. They found out that HB have need 4 weeks notice in writing. Hopefully this means being debt free a bit quicker!!This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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