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They will definitely respond better to Payplan or CCCS. My advice is to get them to set up your DMP then go it alone a few months later. It gives you a breath from the stress your bound to be facing and gets you in the habit of making payments, creating budgets, etc.

 

Good luck!

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Good advice from BSC. They are more ready to accept from a company like that as they produce a CFS as your IE sheet which carries a lot more weight than any IE sheet you could download from the net.

Horses and I are one!

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Payplan are really good and its free no up front fees to pay and you can do it all online if you wish / they always phone back if you ask and you are made to feel at ease they will take control all you need to do is give them all your finance and income etc details and the do the rest...good luck your not alone :)

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It's swings and roundabouts in terms of pros and cons. If you go with Payplan, they do much of the legwork for you, you pay one simple monthly payment which they distribute, they may, however, need chasing up about things like freezing interest and charges.

 

If you go by yourself, Cash Flow will give your IE sheet the same level of credibility as a CFS from Payplan or any other DMP provider. The disadvantage is that you do everything yourself; however, a huge advantage is that you retain total control over your money and who gets what. This means that if one creditor decides to play awkward, you can apply a certain amount of direct leverage on them to change their minds. If they don't, you keep a record of your reasonable offers which have been refused and make token payments as a goodwill gesture.

 

It really depends how much control you want. Before Cash Flow came in I'd have said get things accepted by a known name, then after say 6 months, look to manage things yourself. However, Cash Flow has changed the picture here quite dramatically meaning your IE sheet can carry as much weight as one from an organisation like Payplan.

 

All we can do is point out the advantages and disadvantages of each, but ultimately, it has to be your decision.

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Sorry to ask but what is Cashflow ??

I have tried to download the imoneymanager but the link doesn't work, so I wondered if it had been taken down.

I am a friend of Markantony and just to let you know he did go to payplan and found them brilliant.

He was just about to sign up to a fee paying company but with the help of a thread on here I managed to persuade him not to make the same mistake as me. Thanks Nancy

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Sorry to ask but what is Cashflow ??

I have tried to download the imoneymanager but the link doesn't work, so I wondered if it had been taken down.

I am a friend of Markantony and just to let you know he did go to payplan and found them brilliant.

He was just about to sign up to a fee paying company but with the help of a thread on here I managed to persuade him not to make the same mistake as me. Thanks Nancy

 

Hi nancy

 

Have a look here -

 

http://www.cashflow.uk.net/

 

http://www.moneyadvicetrust.org/images/CASHflow%20Evaluation%20Phase%202%20FINAL.pdf

Edited by Wintry
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Many thanks Wintry this looks great and could be helpful to me, I will look into it tomorrow .

 

Hi nancy

 

I am a big fan of Assisted Debt Management and I am of the opinion that this type of system definitely has its place, however a word of caution is that it will not suit everybody and there can be clear benefits if an organisation does all the work for you (preferably the genuine free ones such as CCCS & Payplan)

 

Knowledge is power though in this game and the creditors even win with Assisted Self Help Debt Management Plans as there are no fees or 'kickbacks' if you like (sorry CCCS & Payplan:)) involved, however as always with informal DMPs the question is... will all creditors 'play the game?

 

I heard a rumour about a year ago that the CASHflow people were looking at a creditor payment distribution system with a well known provider however I dont think anything came of it though...shame as that would definitely help.

 

Ghost's post #7 sums it up rather well in my opinion, and rightly says that it has to be your call at the end of the day.

 

Best wishes

Edited by Wintry
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Just to let you all know that I decided to go it alone. I wrote to all five of my creditors and explained that my circumstances had changed drastically, and I no longer had a decent disposable income, none of them asked me for any more details or for an I & E breakdown and all of them have accepted my token offer of £5 per month.

 

Thankfully now all the telephone calls have ceased and those ominous envelopes have stopped arriving.

 

My whole outlook seems much better and the relief is brilliant. I know it's going to take me years to get it all sorted and my credit rating has been trashed but if I had got things in motion from the very outset I may have salvaged that.

 

So, to all of you who are worried about getting back on the straight and narrow, start writing those letters.. I don't know if it made any difference or not but all the letters I sent, I wrote out by hand, I didn't use my signature as the cag advised and this was not mentioned at all.

 

Thanks to all on here who offered me their advice... don't know what I would have done without you...

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There is no reason why you can't keep control and do things by yourself. Over the years I have helped hundreds to do just this. I mentioned Cashflow as it provides an alternative route that many are still unaware of as it has not been widely publicised. The great thing about managing your own DMP is that you control all the strings. I think you've got the options, just need to have a think and decide which way you want to go now. Whichever way you choose, you'll get all the support in the world on here I'm sure.

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:oops:Thank You Wintry ..something (else) to think about ..brain is slightly overloading at the moment but as you say knowledge is power (as in most things)

Nancy Brain-ache :-D

 

Hi nancy

 

You are more than welcome.

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There is no reason why you can't keep control and do things by yourself. Over the years I have helped hundreds to do just this. I mentioned Cashflow as it provides an alternative route that many are still unaware of as it has not been widely publicised. The great thing about managing your own DMP is that you control all the strings. I think you've got the options, just need to have a think and decide which way you want to go now. Whichever way you choose, you'll get all the support in the world on here I'm sure.

 

I hope you didn't get me wrong "ghost" I did start up with a dmp last year but they screwed me around and I stopped as they were taking more for themselves than they were paying off my debts. Then I looked again at some of them but lost my bottle.. so I just took the bull by the horns and wrote off to all the companies I owed to...

 

I sincerely hope my thread hasn't offended any of you who help others with their debts as that wasn't what I set out to do. I'm absolutely sure you give help and confidence to many people. I am really glad there are people like you on here... this site has helped me with many other problems I have and I will continue to ask you all for help whenever I can..

 

Jan xxx :oops:

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I hope you didn't get me wrong "ghost" I did start up with a dmp last year but they screwed me around and I stopped as they were taking more for themselves than they were paying off my debts. Then I looked again at some of them but lost my bottle.. so I just took the bull by the horns and wrote off to all the companies I owed to...

 

I sincerely hope my thread hasn't offended any of you who help others with their debts as that wasn't what I set out to do. I'm absolutely sure you give help and confidence to many people. I am really glad there are people like you on here... this site has helped me with many other problems I have and I will continue to ask you all for help whenever I can..

 

Jan xxx :oops:

I am sure your post wasn't taken any other way than the way I took it, as a very encouraging helpful message...and here is an icon for you :whoo:

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Hahaha oooh nooo x

 

Hi nancy

 

Payplan...

 

A charity...

 

FCLtd /Payplan.... a charity?

 

Really?

 

Since when?

 

Someone please enlighten me?

 

Seriously?

 

I suppose you have to laugh.

Edited by Wintry
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Hi Nancysmile - sorry been away for a few days so just picked this up. Please don't worry about me getting offended - Ghosts don't have feelings! lol

Hello Ghost ..I didn't think you would be offended I think Dorishaslop was worried you may have been :O)

I am sure Ghosts have some feeling hahaha

Nancy

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