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    • Hells1980
    • By Hells1980 11th Jul 18, 2:51 PM
    • 1Posts
    • 0Thanks
    From using a DM company to DIY?
    • #1
    • 11th Jul 18, 2:51 PM
    From using a DM company to DIY? 11th Jul 18 at 2:51 PM
    Hi Folks
    Due to a change in circumstances e.g. divorce. I am looking at moving from using a debt management company to DIY. Our individual credit cards were lumped together into 'one' debt & as I am busy sorting out splitting other stuff it makes sense to do this as well. Having used a company & seeing a TINY bit of difference to the debt going down, I am feeling strong enough to tackle this myself.

    Has anyone gone from using a fee-company to DIY?

    Thank you!
Page 1
  • National Debtline
    • #2
    • 11th Jul 18, 4:38 PM
    • #2
    • 11th Jul 18, 4:38 PM
    Hi Hells1980

    You'll find a number of members on the board have made the switch from a DMP to self managing their debts, hopefully they'll be along shortly. It might be worth mentioning the option of a DMP with one of the free debt advice agencies as in those all of your monthly payment is used to pay off your debt and you should see a quicker reduction in your debt.

    If you do manage it yourself you'll find the advice agencies also have sample letters to help you negotiate. Best of luck with it all.

    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
    • ramblehan
    • By ramblehan 11th Jul 18, 9:55 PM
    • 630 Posts
    • 1,281 Thanks
    • #3
    • 11th Jul 18, 9:55 PM
    • #3
    • 11th Jul 18, 9:55 PM
    Going self managed is very easy. Pop onto the DMP sticky thread for help.

    Good luck xx
    'Start by doing the necessary, then the possible, and suddenly you are doing the impossible.' St Francis of Assisi
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