On DMP want to make overpayments help please!!


Im on a DMP with churchwood and was wondering me and the OH want to start trying for a baby but i want to get our debt gone first so our plan is to start making overpayments and pay it off asap.
Iwas wondering because we are with a fee paying company is it better for us to make overpayments through them or just pay it to the cc companies by ourselves.
We owe about 70k !!! but so badly just want to get he debt down just not sure where to start as we dont pay interest on any accounts at the mo as they have all stopped im thinking that i should pay the smaller ones off first then the big ones
Or should we just save money in a high interest account then offer full and final settlements to some of the companies.
Sorry to go on a bit
Any help appreciated
DMP No-- 164
Our wonderful baby 'pip' miscarried at 6 weeks:(


  • Deep_In_Debt
    Deep_In_Debt Posts: 8,579
    Photogenic First Post First Anniversary Mortgage-free Glee!
    You could try one of the free debt companies such as CCCS, Payplan, CAB or National Debtline. They don't charge you and therefore every penny you pay them goes to your creditors so your debts will reduce more quickly than if you use a fee paying company who will take a cut of your money.
    Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free :)
    Mortgage free since 2014 :)
  • lisabell
    lisabell Posts: 147 Forumite
    Thanks for replying deep in debt will have a nosey around and see what they say
    DMP No-- 164
    Our wonderful baby 'pip' miscarried at 6 weeks:(
  • Definitely try one of the free ones (I'm with Payplan), then you will automatically be paying more to your creditors, without actually paying out more yourself.

    A couple of points about Payplan (not sure if the other ones are the same), but they insist that all creditors are treated the same, so if you had an over payment, they frown on it going to one creditor - however, if you just make your payment bigger one month, they automatically distribute that amongst your creditors in the correct proportions
    DFW Nerd number 729
    Debt Free & Proud
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