Debt Management Plan

stapeley

hi, just been in contact with a company offering DMP , offered to handle my creditors and reduce my payment per month to one i can handle . I maybe in a better position next year to pay off 50 % of these debts . Advice please .

plumduff-2

Unless its CCCS or Payplan, dont touch them with a barge pole...

stapeley

why not ??

Kevicho

Because CCCs and payplan are free, unbiased and will get YOU the best plan.

More money paying off debts as opposed to lining the pockets of companies is a much better proposal

stapeley

Only trouble is that cccs is snowed under . need to get thinds in place now !

pinkkat8910

Kevicho wrote: »

Because CCCs and payplan are free, unbiased and will get YOU the best plan.

More money paying off debts as opposed to lining the pockets of companies is a much better proposal

Just echoing the above!

The advice from other companies isn't generally impartial, and certainly isn't looking out for your best interests (as they charge a fee for the service!!!)

Payplan / CCCS or run your own

rayday2

stapeley wrote: »

Only trouble is that cccs is snowed under . need to get thinds in place now !

Manage your own then you can start it all today and ring CCCS and they could pick it up.

So many people come on here after a period of time wishing they had known about CCCS or Payplan there is National Debthelpline and CAB too.

You are privileged that people are inparting there wisdom have patience in the long run you will be financially better off and have paid the right people rather than giving a company money for your financial misery!

stapeley

thanks for your imput

sarah78

stapeley wrote: »

thanks for your imput

I was with a debt management company for 4 years until today. After paying £176.00 a month for the last 4 years I'm still no nearer in credit. For example My captial 1 credit card was at £300.00 and 4 years later I now owe them £298.00 !!!
Just thought I'd let you know.

WorriedMart

Wow Sarah.. Did you not check your balances online or whatever to see how much of a dent you were making in your Debts?

Were charges/interest not stopped?!

Who was the DMP run by? I presume a fee charging company?

Stepely Please call CCCS or PayPlan if you dont want to run the DMP yourself.

stapeley

Just recieved form from the DPM company , looked at small print . They have first month payment as set up fees then 18% to manage it ! I,ve emailed back saying thanks but no thanks .
I have debts of £14000 to 3 companys

my income is around £550 per month
outgoings £450 per month
disposable income £100 per month