Can i ask for some back

sharpey92

Hi everyone, new poster here

Ive been with a Debt managment company for a little while now and ive got a problem, basically i need a new tyre on my car and cant afford it at present.

So my question is, can i call my debt managment company and ask them for about £60/£70 of my money which is about a months payment.

Ive spoke to them recently and they said ive got about £260 in my account at the moment which is the money they pay to my creditors every month so surely i can request a bit back.

All help will be appreciated

sharpey92

Anyone out there?

MrsSmith2013

Hi Sharpey, I don't think you will be able to get any money back from them to be honest.

I'd also be querying why they have money sitting in an "account" for you, why on earth are they not paying your creditors with all of your money that your giving them each month?

How long is it until your payday for getting a new tyre? Have you shopped around and made sure you can get the best price for a tyre?

Once you get the tyre problem sorted, I would get back in touch with the DMC and find out exactly how they work, because it sounds a bit strange that they are holding your money.

Sorry if thats not much help to you....

Mrs S

sharpey92

I have queried why they hold money in an account before and they say so when the creditors agree a final balance they can then pay it off, but surely if this money is just sittting there i can request some back after all it is my money and the 27th so quite essential i get the tyre as i dont have a spare (spacesaver)

They pay my creditors about £3 a month each

MrsSmith2013

So your paying them £60/£70 a month and they are only paying your creditors £3 a month each? You would surely be better off dealing with the creditors yourself becuase this DMP company sound like they are at it. They're probably defaulting all your accounts by doing this.

Do you have to travel far each day? Would the space saver tyre not be okay until payday, as thats now less than 2 weeks (only just). Or could you go to a garage who would send you the bill after they have fitted the tyre? I live in a city where that probably wouldn't happen at many places but my family live in a smaller village where the garage sends the bill a week or two after?

Or do you know any mechanics who could get you a tyre at cost price and then change it for you?

Is it completely beyond repair, or could you take it to KwiK-Fit and get them to repair it if its a puncture?

Is there anywhere you could go, smaller garage maybe that would accept a post dated cheque if you explained your circumstances, and gave your phone number, address and proved that these were your details, and explained the situation.

Just trying to think of some options for you, but you maybe have covered these already....

*Robin*

Hello Sharpy, :hello:

Sorry don't know anything about DMP companies, but hopefully someone more knowledgeable will be along shortly who will know where on the MSE forum you'll get more replies - not sure the diaries board is the best place for your query?

Mara_uk7

Sharpey, Does your debt management company charge you for the service ?