recently a friend who was with harrington brooks on a dmp asked me for help as they were paying over £35 a month just in charges to harrington brooksi put them on to stepchange the charity company who does dmp,s now all of the monthly money they pay goes to the creditors,my question is why do people pay other companys that make a cut other than stepchange who take nothing so in fact their dmp is now shorter in months than with harrington brooks am i missing some imformation here or what?
never cment on me speling its rubbish and i didnt go to schola lot okk
made bankrupt 1st august 2012 at 10.00am
now disharged so bankrupt no more thank god im free of debt now
Stepchange and Payplan are both funded by the creditors so they aren't free of charge as such.
There is a school of thought (that I happen to agree with) that, with a 'paid' DMP, the company will work harder to get the interest stopped. After all, the interest will be going to the creditors who back the so called charities.
That's just my opinion, but I've always thought you get what you pay for.
Stepchange still get their money from the creditors, but they get it by way of donations, so it doesn't appear to come out of any individual payments. More like a "cashback" deal
Of course, being funded by the creditors also makes them more Gamekeeper than Poacher. This does make them able to negotiate interest freezes etc, as the creditors prefer to have their own funded watchdog on the case.
If you go to them for an IVA they will charge in exactly the same way as any other company.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
ah i see they also do DRO and BANKRUPTCY so there not really going to make much there,so if you had a choice would it be stepchange or a differant company,i find that stepchange have been really top notch with my friend and harrington brooks just really didnt care,when they stopped there direct debit to harrington brooks it was 9 weeks before they even called them to see what was going on
never cment on me speling its rubbish and i didnt go to schola lot okk
made bankrupt 1st august 2012 at 10.00am
now disharged so bankrupt no more thank god im free of debt now
I'm with Skippy, I'd always choose a fee paying DMP if I chose that as a debt solution knowing what I know now. Without knowledge I'd have possibly gone the other way though to be fair.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
yeah i see but fight for what? enlighten me i just carnt see the differance my friend is paying the same as they were with harrington brooks but their dmp will be 18 months shorter it just dosent add up to me i must still be missing it somewhere
never cment on me speling its rubbish and i didnt go to schola lot okk
made bankrupt 1st august 2012 at 10.00am
now disharged so bankrupt no more thank god im free of debt now
ok so these charges are they added at the start or the end of the dmpso say my friend pays all the monthly money to stepchange and 5 years later when their dmp is to finish could any creditor add either interest or charges at the end?
never cment on me speling its rubbish and i didnt go to schola lot okk
made bankrupt 1st august 2012 at 10.00am
now disharged so bankrupt no more thank god im free of debt now
In my practice we always make sure clients are made aware that there is a "free" option as well as a "paid for" option. It is therefore for them to choose who they feel will best represent them.
As a professional, I maintain the view that "free" advice should be there for those who cannot afford to pay a commercial company, and that paid advice should be there for those who can. If creditors were to recognise that a fair-share arrangement - is a better option all round, akin to the arrangements that Payplan and StepChange operate under, this would be a most sensible option. But I think we are a long way away from that right now.
so a general lack of imformation all round can put you with a company that charges or a company that dosent,if say harrington bro
oks were offering sometime better than stepchange fine but i cannot see the differance really,im simple terms stepchange seems to do doing accactly the same thing as companys you would pay so why pay? where you say melaine that paid advice should be there for those who can afford it dosent make sence to me as your not paying an upfront fee to say harrington brooks your just paying your monthly fee but with stepchange all your monthly fee goes to the creditors where as with a paying company it dosent,so why pay?
never cment on me speling its rubbish and i didnt go to schola lot okk
made bankrupt 1st august 2012 at 10.00am
now disharged so bankrupt no more thank god im free of debt now
just rung my friend any told me that they paid an upfront fee to harrington brooks of £300 so in fact im now thinking what a rip off ,there was no upfront fee with stepchange im still missing something or am i right in saying that its just good business to keep people in the dark regarding the free companys
never cment on me speling its rubbish and i didnt go to schola lot okk
made bankrupt 1st august 2012 at 10.00am
now disharged so bankrupt no more thank god im free of debt now
I'm not sure who is keeping people in the dark about the so called free companies Terry. At the end of the day it's down to the individual to do some research and make their own decisions. You don't seem to agree with fee paying companies, fair enough, but there are a lot of people who are very happy with them, the same as there are a lot who are happy with the so called charities.
