Ending Gregory Pennington DMP

shepochu

Hi there I wonder if anyone can help me, I am currently in a debt management plan with gregory pennington which I am coming to the end of. I can now afford to pay all my creditors in full and wondered if I can cancel the plan and make the payment myself, saving me £80, tried to contact gregory pennington myself but cant seem to get through.

Thanks in advance

shepochu

matttye

From their T&Cs:

11. HOW YOU MAY END THIS AGREEMENT

11.1 You have the right to cancel this Agreement for a short period of time under clause 5.
11.2 You may cancel this Agreement at any time if the total Fees payable under the Debt Management Plan differ significantly from the Fees estimated in the Debt Management Plan Summary issued by Us in accordance with clause 6.1 above.
11.3 You may end this Agreement at any time whether or not We are in breach of our obligations under this Agreement. You can do this by:
(a) writing to Us at Our address set out in these Terms; or
(b) calling Us on 08456 343434,saying You wish to end this Agreement.
11.4 If you end this Agreement under clause 11.3, the consequences are set out in clause 13 of these Terms.

And clause 13:

13. EFFECT OF ENDING THIS AGREEMENT

13.1 When this Agreement ends (either under clauses 5, 11 or 12 of these Terms):
(a) Our duties and obligations under this Agreement will come to an end;
(b) We will withdraw from any continuing negotiations which are ongoing but have not yet been concluded; and
(c) your liability to your Lenders will continue (and be unaffected) to the extent that any amounts You still owe to your Lenders over and above the repayments made to them under the Debt Management Plan will remain outstanding; and
(d) You may within 30 days of the end of this Agreement request Us to send You copies of all paperwork received from You or your Lenders that has been retained by Us as a scanned image.

http://www.gregorypennington.co.uk/about/terms-and-conditions/

So yes it looks like you can end it at any time, but you'll sacrifice this month's fee if you've already paid it.

shepochu

hi there thanks for your response, I finally contacted them after half hour of waiting and have cancelled my plan, was making card payments over the phone on 1st of every month so no fee was taken. Been advised to ask for confirmation of closure and have now rang almost all my creditors and made a payment in full.

So happy its unreal!

Ta

Shepochu

matttye

Well done! Must feel great