debt management plan?good or bad idea?

jagbuster

Hi,really wrecked over not knowing which way to go.Have suffered three bereavements in 18 months,financially stretched emotionally drained.Offered help via debt manage ment plan,totally confused.Can anyone offer any advice ,debt approx £35,000.:o

emmaroids

yes, if you are at a point where you cannot manage your finances then a DMP would be the way forward, i recomend the CCCS.
you will free up more cash each month and a good feeling that your creditors are no longer charging massive amounts of interest.

and good luck.

Deep_In_Debt

If you go for a DMP make sure you use a non-fee charging one such as CCCS, Payplan, CAB. I'm on a DMP with CCCS and it's made things much easier and creditors are getting paid and freezing interest and I get support from CCCS. Do not go for a fee charging company. The above all offer free advice in your interests only.

jagbuster

Did initially apply for an IVA,lovely lady, she advised IVA not suitable.Have now been contacted by a company requesting a monthly fee,plus a one off payment of nearly£460 .I am getting pressure which is pushing me towards the edge,have offered part payments to creditiors,explaining main reasons for financial situation is three funerals,minimum insurance,I had to manage all of them financially.Alas this genuine reason has not helped my situation at all .These companies are at time so far detatched from the real world it beggars belief.:o

Deep_In_Debt

They are out to make money out of you. CCCS have an on-line debt remedy tool - give that a whirl and see what it comes up with. With the non-fee charging companies, all your monthly DMP payments go to the creditors thus clearing your debts a lot quicker. There are a lot of sharks out there who are just out to make money of vulnerable people already struggling to pay their debts.