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debt management

loopy13
Posts: 2 Newbie
Hi I am currently with 123 debt solutions, I pay them £60 per month but they are only paying half of that amount to my debtors, can anyone help I have not been able to find a free company, can I contact my debtors myself and offer them the money instead of paying this RIP-OFF company?:money:
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Comments
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stepchange will help for free, don't pay these companies to do it for you, that's why only half is going to your creditors...where do you think the other half is going ?0
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Contact one of the people in this link: https://forums.moneysavingexpert.com/discussion/4228011
You definitely don't want to be paying someone £30 a month for something that can be done for free!
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Hi I am currently with 123 debt solutions, I pay them £60 per month but they are only paying half of that amount to my debtors, can anyone help I have not been able to find a free company, can I contact my debtors myself and offer them the money instead of paying this RIP-OFF company?:money:
If that doesn't appeal to you, then stepchange (Google it)will mange your debts for free.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts 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 and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
I second everything above , i'm with stepchange as i cannot face self managed at the moment, they're pretty great. non judgemental and when i spoke to them i signed up with a paid company... the best thing they could have done was warn me off!0
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Hi and welcome to MSE :wave:
As has been said above, Stepchange are fab if you don't feel able to self manage a debt management plan.
http://www.stepchange.org/ 0800 138 1111
All the money you send to them goes to your creditors and it takes the stress away of contacting them all yourself.
Best of luck in whichever route you decide0 -
I have been accepted onto Stepchange. Completely free. They are not the only organisations that will do this free of charge. Please contact one of these organisations asap. Charging people to sort out debt makes me really angry.I've lost over 100lbs in two years, I can be debt free too.0
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Hi I am currently with 123 debt solutions, I pay them £60 per month but they are only paying half of that amount to my debtors, can anyone help I have not been able to find a free company, can I contact my debtors myself and offer them the money instead of paying this RIP-OFF company?:money:
Hi
I have seen this type of arrangement many times where a disproportionate amount of the money paid into the DMP is going in fees etc
There can be eligibility issues such as minimum amount of disposable income with some agencies and basically leaving people with little or no option other than to self manage.
Citizens Advice have a somewhat unique free online self administering Debt Management Plan resource that does and saves everything.
The above mentioned CAB system is now widely & successfully used. It also has a transfer provider facility with standard letters and the rest (see links below)
https://nedcab.cabmoney.org.uk/dmp.asp
http://cabmoney.org.uk/
General DMP info including free & other providers
https://nedcab.cabmoney.org.uk/remedy_4.asp
Going with a free provider is a no brainer for me but many can and do self manage however self managing is not for all, unless you basically have little choice other than to do so.
Are you sure that you don't have you any other options other than a DMP? Citizens Advice debt remedy / option resource below might help
https://nedcab.cabmoney.org.uk/debtremedy.asp
If in any doubts at all best to get further independent, impartial advice, preferably from one of the genuine charities.
Hope this helps some and best wishes
DC0
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