DMP mutual support thread part 13 !!

rsbradrs

Hi I'm new to this and have been looking at doing a dmp but not sure the best company to go with. I've had a deep conversation with payplan who have gone through budget etc but they have a few negative feedbacks, I'm worried that my money wont get paid to my creditors, does anyone recommend a particular company please? Thank you

sourcrates

rsbradrs wrote: »

Hi I'm new to this and have been looking at doing a dmp but not sure the best company to go with. I've had a deep conversation with payplan who have gone through budget etc but they have a few negative feedbacks, I'm worried that my money wont get paid to my creditors, does anyone recommend a particular company please? Thank you

Hi,

Stepchange, Payplan, both provide free debt mangement plans, occasionally delays with payments can happen, maybe because the debt has been sold for example, thats the only reason payplan may have some negative comments, they both provide a good free to end user sevice.
Do not concider using a debt mangement company who charges you, we do not recommend them, the service you receive will probebley be worse, as they are only interested in their fee`s and not your debt situation, fee`s are typically 30% per month, plus an upfront fee, these type of companies are best avoided, as they end up costing you more, and can, and do, go bust on an alarmingly regular basis.

User_060921

My journey started today. Finger's crossed

panda_magic

My DMP starts 1 November. Its with Payplan, as most of my creditors recommend them. But I notice they are not the recommended company with MSE!? I'm worried that I might get poor advice or pay more than I should.
Should I be worried?

sourcrates

panda_magic wrote: »

My DMP starts 1 November. Its with Payplan, as most of my creditors recommend them. But I notice they are not the recommended company with MSE!? I'm worried that I might get poor advice or pay more than I should.
Should I be worried?

No, nothing to worry about, payplan and stepchange operate in similar ways, and use the same budgeting allowances, if you have specific concerns, post about them in this thread, we have a broad knowledge base to help with most things DMP related.

AspirinRequired

Hi there. It's my first post in this thread but I have spent a lot of time reading through the pages. I'm in around £32000 of unsecured debt and am in the process of trying to start a self managed DMP with NedCab.

I've started to add the info bit by bit and have got a bit stuck on the income and expenditure section...

Firstly, I entered that I was in a couple when I first signed up to the website, but I immediately noticed that all creditor template letters said "we are contacting you". My wife has nothing to do with my personal debts so I changed my details to single.

Now I've got to recording the incomings and outgoings and it is asking for my wifes salary. Do I enter her full salary or what she contributes to the household? Because I'm not sure that the guideline trigger figures are taking her into account. It's become a bit confusing for me as the surplus left over doesn't seem accurate.

I'm also wondering what other outgoings are allowable as there is space to add more. I have used other templates over the last few weeks and there seems to be more categories listed in them.

Sorry for the barrage of questions, I'm just trying to get myself sorted.

[Deleted User]

Westcott managed my debt for a Lloyds bank credit card. My Stepchange account showed payments to Westcott.
My credit report showed payments to Lloyds that has now gone from my report.
My credit report shows a debt to Link.
My Stepchange account still shows payments to Westcott.
I believe Link has bought the debt but has not notified me or Stepchange.
Do I contact Westcott of Stepchange?

Jo842002

Hi, I am about to start a dmp with Payplan and they are asking for 3 month's bank statements - do I have to provide these? I am a bit concerned as have slightly inflated a couple of bills to give me a little bit of wriggle room each month. Thanks.

sourcrates

Jo842002 wrote: »

Hi, I am about to start a dmp with Payplan and they are asking for 3 month's bank statements - do I have to provide these? I am a bit concerned as have slightly inflated a couple of bills to give me a little bit of wriggle room each month. Thanks.

Better deflate them then, and quickly, they need to see your proofs, you won’t get your plan set up otherwise.

Willing2Learn

Haldane wrote: »

Westcott managed my debt for a Lloyds bank credit card. My Stepchange account showed payments to Westcott.
My credit report showed payments to Lloyds that has now gone from my report.
My credit report shows a debt to Link.
My Stepchange account still shows payments to Westcott.
I believe Link has bought the debt but has not notified me or Stepchange.
Do I contact Westcott of Stepchange?

If it were me, I would contact Westcott on the phone if I wanted to confirm whether they currently manage the account.