Continue with Gregory Pennington? Pls HELP!!

scarlet1203

I currently use the debt managemant company Gregory Pennington to manage my debts which total about £6,000. I'm on a very low income and so I only pay £90 a month to GP which pays their fees and my creditors. I'm getting nowhere slowly!

Is anyone else with them? Should I stay with them or do something else?

Please please help and suggestions would be appreciated!

liz105

you need to contact CCCS or PayPlan as soon as possible. These are non-profit charities who will not charge you a fee.

This company is taking your money for themselves when you could be paying it off of your debts.

scarlet1203

Thank you for your response!

I have just contacted PayPlan and they wont take on my debts themselves and have suggested that it might be worth me arranging plans on my own. But this concerns me as at the moment my interest is frozen with all seven creditors so I'm worried that one of them might start adding interest again.

Broken_hearted

Doing a self run DMP isn't as bad as it sounds, your creditors have already accepted lower payments and frozen the interest. You need to talk to them explaining how you are benefiting THEM by dropping GP as they can now have slightly more money as you are no longer wasting money fees.

rayday2

I do a DMP on my own and its really easy, I use the national debthelpline, I downloaded there information pack and payment calculator and also use there template letters.

It is quite rare for companies to go back on frozen interest so long as you don't miss payments. Also you probably are in a position to offer them more on your own as there is no commission.

Check out the huge DMP support thread for moral support and if you want speific help then just pm me or shout in this thread but you can do it!