DMP entered but feel was wrong decission

moonlightmaggie

I was £3580 in debt £1200 with Currys,rest with Klarna.in a moment of panic I spoke to a company who said we can help by putting on DMP and spread costs etc.ithought yes that would be great.so entered into it.
But now in reality I have realised for 3 months I could have aid the klarna off...and be left with just Currys...but now I am in a 2 year contract paying this company to freeze interest pay them 6months and they pay it ...I am stupid I should have just calmed down not panicked...can I get out of this DMP ? I have already paid them 1 month

Grumpelstiltskin

What does your contract say?
Is it a DMP or IVA?
How much are they charging you for something that is easily done free?

sourcrates

Your post would have been better suited to DFW, but anyway, you can just stop paying them, say you have changed your mind, I doubt such companies have enforceable contracts, and you will have a cooling off period, they take advantage of people in panic mode unfortunately.

I assume its one of those schemes where you pay them and they bank the money, then pay creditors some months later having benefited from the interest, such companies go bust at an alarming rate, other disappear with your cash and are never seen again.

Very easy model for scammers to copy too, I`m glad you have realised your error, don`t pay them another penny, whatever you do.