Chase Saunders DMP

[carlastc]

Hi, My partner currently has a DMP with Chase Saunders ,he pays them £320 per month but he has had Default letters from some of the companies and it turns out that the payments have not been made to the creditors in spite of the fact that the Direct Debit had been taken out of his account.

Obviously not all of the £20 goes to his creditors as Chase Saunders charge a monthly fee.

 

Also our circumstances have changed as I lost my job in January and we are finding it difficult to make the normal payment of £320 per month.

He wants to transfer the DMP to another company and maybe start with a lower payment until we are back on our feet but he is unsure who to contact.

He spoke to Payplan who wanted him to take out an IVA which would have been £400 per month which he is not keen to do at present.

 

I know I can rely on somebody on these forums to come up with some advice, PLEASE!!

[firstship]

Hi............Do not pay any DMP company any money as a fee...........for example..CCCS charge nothing, and will help you,or you can do your own DMP,try CCCS first you do not have to say yes and it will give you a guide should you want to go with your own DMP.............have a look at CCCS website....(I have a CCCS DMP and although they are not perfect they have helped over the past 3 years)..FS

[loobyloo85]

Hiya

 

You state your partner has spoken with Payplan, and they advised of an IVA. They do deal with IVAs, and probably felt that this may be an option for your partner, hence why it was offered. However, if your partner would like to do a DMP with them, he would just need to explain this - he does not have to do an IVA - it is just there as an option now or in the future. Payplan and CCCS are free of charge, and all money paid to them goes directly to creditors. Chase Saunders would have been holding money back to cover their fees.

[carlastc]

Thank you for your advice, I have a DMP with Payplan myself as we prefer to keep our financial affairs separate but they were quite insistent that an IVA was the best option for my partner, he does not want to commit to this as I've recently lost my job and he is currently on a "rolling contract" which is not 100% secure.

I will advise him to speak to them again as our circumstances have changed since he last spoke to them and they may be a little more amenable to the DMP option.

[loobyloo85]

OK, yes I understand with the job situation that an IVA isnt the best option as would need to sustain a payment for 5 years, however, yes like you say, get him to call again and ask for a debt management plan.

 

All the best x