dmp NOT iva BEWARE

adam1978_3

My fiance rang her debt management company up yesterday and it has come to light that she is actually on a DMP NOT an IVA, she has been lead to beleive she was setting up an IVA and has believed thats what she was on for 18month now. has anyone else had dealings with EURODEBT? we have an appointment with her solicitor to see the pro's and cons of going bankrupt. this debt was in her name but is actually her ex husbands. also they told her that there is no management fee when in fact each month she pays nearly 50% in fees.

Leixlip1

There's a report on Eurodebt on the BBC'c "Inside Out" site (just google Eurodebt) that is not very favourable!
Non fee organisations like CCCS, Paypan & National Debtline are a much better option and can advise what is best for your fiance - DMP, IVA ,Bankrupcy etc
Good luck.

HHH_2

before you do anything else including seeing a solicitor I recommend you talk to one of the debt charities, I use CCCS for my DMP. apart from anything else they do not charge fees for a dmp. they advise and help on all aspects of debt. have a look at their website it will offer you an online debt remedy calculator thingy which will come up with the most suitable options. I am sure some more people will be along soon to say keep away from eurodebt or any fee charging company.

stapeley

I would cancel the DMP straight away . Write to all your creditors and tell them the situation and move to a free DMP .

adam1978_3

Thanks,
We went to her solicitor who's been dealing with her divorce and she has said to go to the citizens advice. we are going there later this week.

Eurodebt really have good (bad) sales tactics, they told her it would be over in 5 years and turns out it was never going to be that way.

RAS

Hi

In which case she should report them to trading Standards and to the OFT.

adam1978_3

I'm trying to get her to. would it be easy if there isnt anything in writing to say so?

RAS

I think even the fact that she thought it was an IVA (which would be 5 years) and it is a DMP is enough to suggest that the basic briefing was deeply dodgy.

adam1978_3

yeah, fingers crossed for thurs. see what CAB say.

Deep_In_Debt

I'm on a DMP with CCCS but if I hadn't found this forum I would have gone with them. They will give free, impartial and non-judgemental advice and are not out to make money from you so all the monthly repayments go to the creditors therefore clearing your debts more quickly than the fee charging ones. Payplan offer the same service too.