Aidan-Fleming
Member
Registered: 17th May 08
Location: Westhill, Aberdeenshire
User status: Offline
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Iknow it may be a personal topic etc but I'm just wondering if anyone else is on a DAS or a plan to help with there debt. Basically if anyone has any problems with the company's or anything?
I'm in a total of 4100 of debt and need to sort it out, so I called a company called Wilson Andrews, and I said I could afford to pay back £200 a month. They said the 3 different accounts would get frozen and interest rates frozen, then I'd leave them. Then I'd pay Wilson and Andrews the £200, £167 of it goes to the 3 accounts. Then I'd open a new bank account with a different company debt free from it which my wages etc would go in and my direct debits would come off that.
Dunno if its a good idea or not or if anyone's in a similar situation?
Appreciated if anyone has any info or ideas?
Thanks, Aidan!
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Steve
Premium Member
Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
User status: Offline
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You can do it yourself. Debt management companies are a con. Anything they can do you can do yourself. The only advantage of debt management companies is they take all the shitty letters off the debtors.
Ring up the people you owe money. Tell them you can only afford to pay x amout per month.
They have to accept it by law.
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Mr-SEH
Member
Registered: 10th May 10
Location: Dark places
User status: Offline
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quote:
Originally posted by Steve
You can do it yourself. Debt management companies are a con. Anything they can do you can do yourself. The only advantage of debt management companies is they take all the shitty letters off the debtors.
Ring up the people you owe money. Tell them you can only afford to pay x amout per month.
They have to accept it by law.
This.
Also You can offer them 10 pound a month and they have to accept as your not refusing to pay.
[Edited on 05-02-2013 by Mr-SEH]
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John
Member
Registered: 30th Jun 03
User status: Offline
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House day.
Where does the extra £33 go to?
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Steve
Premium Member
Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
User status: Offline
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To the dmc
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John
Member
Registered: 30th Jun 03
User status: Offline
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Sounds like a good idea and not at all how the situation probably came about in the first place 
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Chris
Premium Member
Registered: 21st Sep 99
User status: Offline
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why are they taking a cut, DMP are free.
As they sell on the debt at a loss to the 4100 figure is bought so say 3500 by the company, but you pay back the 4100 so they make the 600
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Tom J
Organiser: South Wales
Premium Member
Registered: 8th Sep 03
Location: Bridgend
User status: Offline
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My dad is in a similar position except the figures are a bit larger, 45K on Cards, struggling to pay the minimum payments and has them ringing him every day?
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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45k
WTF!!
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Tom J
Organiser: South Wales
Premium Member
Registered: 8th Sep 03
Location: Bridgend
User status: Offline
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yep. self employed and built them up buying materials etc, bad money management 
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Aidan-Fleming
Member
Registered: 17th May 08
Location: Westhill, Aberdeenshire
User status: Offline
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Holy shit 45k wtf! lol
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Tom J
Organiser: South Wales
Premium Member
Registered: 8th Sep 03
Location: Bridgend
User status: Offline
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make you feel a bit better mate? lol
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Tom J
Organiser: South Wales
Premium Member
Registered: 8th Sep 03
Location: Bridgend
User status: Offline
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what are the minimum payments for the creditors and what interest rates are each on mate? and what can you afford to pay off each month? you may not have to go down the DAS route
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Aidan-Fleming
Member
Registered: 17th May 08
Location: Westhill, Aberdeenshire
User status: Offline
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quote:
Originally posted by Tom J
what are the minimum payments for the creditors and what interest rates are each on mate? and what can you afford to pay off each month? you may not have to go down the DAS route
£200 between the 3, then 167 of it goes to the debts. 33 to them a month.
think im going to keave the idea alltogether lol
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Tom J
Organiser: South Wales
Premium Member
Registered: 8th Sep 03
Location: Bridgend
User status: Offline
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no i mean as you are now? with the Credit Cards
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ed
Member
Registered: 10th Sep 03
User status: Offline
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Citizens Advice Bureau. They can help you out, for free.
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3CorsaMeal
Member
Registered: 11th Apr 02
User status: Offline
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Just stop the borrowing and set up a direct debit to pay it back each month, might seem like ages away, but really 3yrs can pass pretty quickly and at the end you will have the extra money in your pocket, its like getting a payrise 
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Brett
Premium Member
Registered: 16th Dec 02
Location: Manchester
User status: Offline
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quote:
Originally posted by Tom J
My dad is in a similar position except the figures are a bit larger, 45K on Cards, struggling to pay the minimum payments and has them ringing him every day?
wow 
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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My missus fell for this, she paid Harrington brooks £260 a month for 4 months and when she got a debt letter saying she wasn't paying, she rang round and no one had been paid a penny from them, she went to CAB and they set up a debt pay plan for her and gave her a code to quote to her debtors and offered a certain amount per month which they accepted.
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Aidan-Fleming
Member
Registered: 17th May 08
Location: Westhill, Aberdeenshire
User status: Offline
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Think it's the wrong route to go down. Will just phone the bank and see what they say about how much I can pay etc
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ed
Member
Registered: 10th Sep 03
User status: Offline
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quote:
Originally posted by ed
Citizens Advice Bureau. They can help you out, for free.
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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quote:
Originally posted by ed
quote:
Originally posted by ed
Citizens Advice Bureau. They can help you out, for free.
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