changeing a DMP

madlyn

my partner has had a DMP for the last 2 yrs. at the start the debt was a round 16k split over 2 credit cards.
the company he uses charge him £30 a month in fees.
after recent media coverage regarding the fees charged by the companies he is keen to change to a company that can arrange a new DMP without the fees.
can this be done? if so where does he go to do this and what information does he need to change?

sistafromanothermista

Sure can.
https://www.stepchange.org

seanavfc92

madlyn wrote: »

my partner has had a DMP for the last 2 yrs. at the start the debt was a round 16k split over 2 credit cards.
the company he uses charge him £30 a month in fees.
after recent media coverage regarding the fees charged by the companies he is keen to change to a company that can arrange a new DMP without the fees.
can this be done? if so where does he go to do this and what information does he need to change?

A DMP is an informal arrangement between the client and the creditors; your partner isn't contractually obliged to remain with the fee charger.

Some fee chargers require a notice period. The main thing is to cancel the Direct Debit with your bank so they can't take the next payment.

Give StepChange a call (or other free Debt Management Company) and tell them you want to set up a plan with them.

You'll need a list of income and outgoings, as well as a list of unsecured debts.

Sign the paperwork they send, get it sent back, wait a little bit, then the DMP should be set up!

madlyn

he isnt sure exactly who his debts are with, will the people he uses at the moment tell him this before he rings stepchange?

longtermplanner

Stepchange are used to taking over DMPs - just call them and they will talk him through the process: https://www.stepchange.org/Howwecanhelpyou/DMPDebtmanagementplan.aspx

Depth_Charge

madlyn wrote: »

my partner has had a DMP for the last 2 yrs. at the start the debt was a round 16k split over 2 credit cards.
the company he uses charge him £30 a month in fees.
after recent media coverage regarding the fees charged by the companies he is keen to change to a company that can arrange a new DMP without the fees.
can this be done? if so where does he go to do this and what information does he need to change?

Hi

Just following on from others

There is also the option of self managing as many are now doing, not for everybody however but maybe worth a look

Citizens Advice Cabmoney Online DMP Resource that includes a transfer facility -

https://nedcab.cabmoney.org.uk/dmp.asp

Best Wishes