Paying debt management plan balance

Clingy000

Hi I am paying balance of 5k of my dmp. The company that has been looking after my plan has told me this is my balance and included is their management fee! Can I get a settlement figure to pay it off, Iv had it 7 years so no longer on my credit file. 

Any advice? 

Thank you 

fatbelly

When you contractually tie yourself into a fee-charging dmc all you do is create another creditor.

There were free options out there: Stepchange, Payplan, Christians Against Poverty.

Yes your creditors will accept a settlement deal but you are going to have to negotiate it yourself.

I expect your DMC will want their fees in full or will start a court claim

ManyWays

Most DMP fee chargers get their set-up fees back in the first 6 months or so, so as you are well past that point, you should be able to give notice and just make one more payment. Have they given you a list of your debts, this sounds a bit unusual.

Rob5342

Get rid of whichever company has been charging all these fees for something that Stepchange or Payplan would have done for free. Once you've done that get CCA requests off to all your creditors, and then start making settlement offers to the ones that have provided the CCA.