Originally with 123 Debt Solutions in Merseyside, and paying �50.00.
Debt then was �2401.00.
Changed to G.W. Financial Solutions Limited, paying �70.00, and �4.94 of the payment, is for a management fee.
Paying this since January, and now the debt is �5131.18.
I have made 53 payments, and the debt is not going down.
I have had enough.
I would like to discuss this further.
If the debt in increasing it is due to management charges coming out of what is already a modest repayment as well as the possibility that the creditors are not stopping / reducing interest charges.
I would have a chat to a couple of firms to see what they think they can do -- Payplan and Stepchange, being largely funded by the creditors, do not charge management fees for DMP's.
If you only have one or two creditors you might be able to broker a deal with them yourself.
Please speak to another company for some free advice as a different solution may be better for you. Vincent Bond can be contacted for free advice as can a number of companies which post on here.
I am sure there is a better solution out there.
Do you have any family/friends that might be willing to loan you £5k to clear it and then you can pay them back?
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