Debt and management

[sharne27]

I have a prob with debt as i cant work. Long story short i haqve joined a company doing a dm plan as the stress is making me worse. I have not paid into it yet i have read few good and bad reviews anybody else having simular issues and got any advice.

[Hidden]

Hello Sharne, thank you for your message. Are you able to say what Debt Management company you have joined, they tend to vary and have different conditions.

I have found some information for you on Debt Management Plans from a reputable site, but one thing that concerns me about this is that even though you have entered into a repayment programme your creditors can still ask for full repayment at any time.

Take a look at the info within this link, I hope it's helpful for you -

nidirect.gov.uk/debt-manage...

Have you actually committed yourself to this plan yet?!

(((hug))) xxx

Libs

[sharne27]

its the money group. I was with kensington but they messed me about. Its few payday loans they are actually understanding bar 1. Ive not paid the plan yet first payment its sat but i have new bank account. xx

[pinkblossom]

Hi

Iv been under a DMP for about 6 months,I followed a link when I was looking for stuff on benefits on the government website,I gave them a ring and it was the best thing I have ever done,my debts had spiralled out of control and I was paying £600 in credit card bills,I now pay £100 a month to payplan and they pay my creditors on my behalf,I had to open a new bank account that had no connection with any credit cards,I have no overdraft or credit cards and just live off my wages,personally I felt more comfortable going with the one on the direct.gov website.

The DMP and payplan people were very friendly and helpful and didn't judge me in anyway.

If I had not made the first step to sort my debts my relationship would have broken up and my health would have got even worse.

I wouldn't say I'm an expert on it but if you feel you might need a bit more advice on the best way forward or you have any questions I would be more than happy to point you in the right direction,like I said I'm no expert but I do now what you are going through.

Please feel free to PM me.

Take care

Julie xx

[Samdnarg]

Hi

I'm with Stepchange (used to be CCCS) 0800 138 1111 website: stepchange.org/

Best thing I ever did was to ring them. Like Payplan they don't charge for their services and are very helpful without judgement. I have been with them now for 3 years and they will change your monthly payments if your income decreases or increases, as they do an annual review. They are always there to speak to if you have any concerns.

I do not work due to my health and also care for my partner and all this is taken into consideration.

Hope you get things sorted soon. x

[lavenderheart]

I have similar problems due to loss of my business in 2010 and have been to local citizens advice bureau who have done plan with me and contacted a few outstanding credit cards and offered nominal payments of £1 per month which have been accepted this service is totally free and creditore do sit up and take note of the citizens advice I can only highly recommend it - I do get very stressed about outstanding debts and it does greatly affect our illness so best to get sorted asap - don't put it off - good luck x

[Hidden]

I had problems with debts and was advised by Citizens Advice Bureau about 7 years ago who arranged minimal payments for me of £1 originally. After they stop dealing with me companies kept asking for more and had to deal with them every 6 months to say I couldn't pay what they were asking being on Incapacity Ben & DLA. I continued struggling to pay for several years, last year a friend in similar circumstances told me about Insolvensy Order that she had granted having been through CAB. I contacted them and went to see advisor, I think your debts needed to be under £15,000 and on benefits with no asserts above a certain amount sorry can't remember what that was. I filled in all my debts income etc and after a few weeks went in to fill in official application, if you qualify you pay an administration fee I think it was £90 then the Insolvency Order is issued that day, what that means is you stop paying debts, & stop having constant phone calls from debtors as you give them the I order number and calls stop.if 1 year to the day the order is issued your circumstances are the same, mine will be in April, your debts are written off and your credit rating adjusted accordingly. If it hadn't been for my best friend I would still be struggling living alone hardly able to afford food & having very little quality of life. The extra amount if money isn't huge in my case as was paying £5 & £7 on most debts but peace of mind of being able to answer phone without fear has helped beyond belief. Really hope this helps even 1 person not to be paying into debt management companies that then charge you for their services Karen