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Need help.
eportdave
Posts: 46 Forumite
I have a few debts I want to put together and pay off either with a iva or dmc I think it's called. Their are so many companies to chose from. Can someone recommend 1?
I'm just shy of 5k in debt. Need this sorting out.
I'm just shy of 5k in debt. Need this sorting out.
0
Comments
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Hi
An IVA will not be a good option for you if your debt level is £5,000, they're only suitable for people that owe more.
The DMC you're thinking of is most likely a DMP, which stands for Debt Management Plan. A DMP is an informal arrangement where an organisation takes one payment from you per month and deals with your creditors on your behalf. Most DMP providers charge a fee so an organisation called Stepchange is the best place to try, as their debt management service is free. You can call Stepchange on 0800 138 1111.
This factsheet explains debt management plans in more detail:
www.nationaldebtline.org/EW/factsheets/Pages/debtmanagementplans/dmpadvice.aspx
James
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
Thank you.
Would stepchange set up a payment plan for me or would they refer me to another company.0 -
Step change do it for you, you can do it all online via their website and they just need to know how much you earn/spend a month and how much you owe and to whom. its worth having a look on there you dont have to agree to anything it just gives you an idea which if you are happy with you can then proceedLove my DMP left to pay £0/ £10162.51 :beer:
Est DFD 11/2018
Actual DFD 09/2017
£2 savers club: number 88 £14 so far!
Wombling free number 41 £6 so far!!
Emergency fund £50/£10000 -
Thank you.
Would stepchange set up a payment plan for me or would they refer me to another company.
They are a free to use debt charity who will organise everything for you.
Check out there website, as mentioned above.
http://www.stepchange.orgI’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
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