Consumer Choice

johnston818

Hi

Like most of us here im in a chunk of debt but starting to do something about.- Circa 35k

Im self employed but the business is a partnership and i cannot risk this being affected in anyway

I have spoken with Consumers choice about a DMP and who I have seen advertised all over the place and wondered if anyone has had any experience with them

Im wary of moving forward, its a big step and dont want make a mistake

I spoke with Stepchange about 18 month ago and to be honest they were very rude and unhelpful basically said oh well cant do anything, so I stuck my head in the sand again

I want to pay the money back but the interest and amount Is just overwhelming and leaves me with no money afternoon pay everything

so if anyone has experience with Consumers choice I would appreciate some feedback

Thanks

SpireCaptain

Good morning, you're definitely in the right place. I'm sure someone will be along better qualified than me to assist.

I will say that looking at their website they state they're lead generators for FCA regulated companies so even if Consumer Choice are helpful etc, it depends who they put you in touch with.

It might be worthwhile contacting Business Debt Line for more tailored advice due to your self employment/partnership set up as might have information on further impacts that a regular DMP or IVA selling company would not know about.

Have a look at the sticky threads above on the DFW homepage. Also most people suggest posting a SOA first to see if anyone can help suggest bways to make it more manageable before heading down the DMP route

All the best.

MattMattMattUK

https://forums.moneysavingexpert.com/discussion/6654420/consumer-choice

Being in a partnership does complicate things, is it with a family member or someone else? LLP?

Can you post an SOA?

johnston818

Family member

Sorry SoA ?

johnston818

Fyi

The debt is all personal and in no way connected to the business

MattMattMattUK

https://forums.moneysavingexpert.com/discussion/comment/81875409#Comment_81875409

SOA = Statement Of Affairs

It lets us see what your financial position is, then people can figure out options.

https://www.lemonfool.co.uk/financecalculators/soa.php

MattMattMattUK

https://forums.moneysavingexpert.com/discussion/comment/81875428#Comment_81875428

The complication is because it is a partnership, the business is also potentially an asset and has assets.

johnston818

Does that matter if i go down DMP route

MattMattMattUK

https://forums.moneysavingexpert.com/discussion/comment/81875446#Comment_81875446

That depends on lots of things, the SOA will help people work that out. Especially how much equity is in the business.

johnston818

i cannot affect the business at all

im just looking for advice on Consumers choice, whether they are reputable or if anyone has had experience with them or maybe im better looking at maybe payplan or Citizens Advice ?

MattMattMattUK

https://forums.moneysavingexpert.com/discussion/comment/81875464#Comment_81875464

Post an SoA or people are flying blind trying to help you.