debt management quiery

[jimglasgow]

hi, can anyone advise me i am in the process of joining a debt management program i have paid half of the required money to them and was very happy with the way things were going untill the car finance company that i was dealing with said that they do not deal with dept managment company,s and if i do do continue to pay them they will reposses the car , but dont want to join if i have to pay both can anyone advise thanks

[dx100uk]

bet the name begins with W and ends in E

 

as for repossesion, look on your agreement, how far in are you and what are the time clauses before you part own it?

 

dx

[jimglasgow]

2 year into a 4 year deal,

[suzieblooz]

DON'T pay any money to a company for a debt management plan. You can get one free from either CCCS or Payplan. That way all your money goes towards paying off your debt and not in to the profits of the company.

Here are the links:

CCCS - Free Debt Advice from the UK's Leading Debt Charity

Debt Management Plans, Free Debt Management Company and IVAs | Debt Advice | Payplan

 

Don't know how that will affect your car finance company. I know some companies will deal with these two, rather than companies that charge.

[jimglasgow]

the company is debtline

[dx100uk]

no i meant the co financing the car?

i think you will find you have passed the repossion point if you have paid half.

 

have you got the agreement and what does it say about repossession or your rights on the vehicle once certain payment months are passed?

 

dx

[loobyloo85]

Hi

 

Usually, if you have a car on finance, if the agreement is secured on the vehicle, you would need to maintain these payments. Therefore the payment toward this agreement would be included within your expenditure in the DMP.