DMP Company

Options
shimsham_2
shimsham_2 Posts: 139 Forumite
in Debt-free wannabe
Can anyone recommend a DMP company who is good at dealing with creditors,there seems to be alot out there but there is mixed opinions which help you the best ie fee paying companies or non paying fee companies,any help would be appreciated.

Comments

  • Superbiatch
    Superbiatch Posts: 585 Forumite
    edited 4 June 2011 at 10:48PM
    Options
    CCCS or Payplan, both won't charge you for their help ;)

    Obviously a fee paying company will only be out to get as much money from you as possible, whereas the two mentioned above work in your interest and won't charge you for the privilege. They will try to get your interest stopped and arrange for pro-rata payments to all your creditors.

    You do have another option - a self managed DMP whereby you deal with your creditors yourself, but it does require a bit of confidence, knowledge and thick-skin at times :)
    LBM: 22.12.2010 :j Self-managed DMP start 29.1.2011
    DMP Mutual Support Thread No: 413
  • Mr_Max
    Mr_Max Posts: 43 Forumite
    Options
    It's up to you whether you go with fee-paying or free. CCCS is the best free one (not a fan of Payplan, they seem to have sales tactics that reminded me of a dodgy timeshare agent).

    If you're income is quite tight, then free is probably your best route. However, ask around to see what people who have actually been in one. See what they say.
  • Tixy
    Tixy Posts: 31,455 Forumite
    Options
    Never worth paying for a DMP. And presumably if money wasn't tight for an individual they be looking at a DMP anyway. Paying fees to a DMP company is simply taking away money that could go to your creditors and so will keep you in debt longer.
    Stick with the recommended charities - IMPORTANT - Where to seek professional impartial advice about your debts.
    (or if for any reason you cannot use one of those charities next option would be payplan who, whilst not a charity, also don't charge for DMPs).
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.7K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.8K Work, Benefits & Business
  • 608.8K Mortgages, Homes & Bills
  • 173.3K Life & Family
  • 248.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards