www.iva.co.uk

Hi Everyone,


Just wanted to announce a new service that may be of interest. Essentially it is a DIY DMP! A do-it-yourself debt management plan.


Andy has suggested I announce it here after I explained that the service was completely free with no set up fees and no monthly management fees.


To set up your DIY DMP:
-Create free account on www.debthelpcharity.com
-Enter in finances to get summary sheet
-Print out the automated letters
-Send out the letters and payments to creditors
-Record notes and the status of your DMP in your client area of debthelpcharity.com


The site is completely free to use (if you use a commercial company to do your DMP then you will pay 1 to 2 months set up fees and a 15% management fee everymonth).


However it is DIY. This means that people who use the service will have to send off cheques to creditors themselves (rather than paying a single fee to a company who then pays the creditors).


There is a forum to discuss any DMP set up problems.


For more information, please visit the site.


Steve, DebtHelpCharity.com

I've had a look at this site with the view to set up and manage my own debt plan.

I was simply wondering if anyone had heard of it or even better used it and what they thought?

Think it would be worth trying to do myself but a little help would go along way.

Hi

I did a DMP with Greg Penn then Payplan, and Payplan really left it to me to write to creditors etc, and It became tough, I feel that if entering into a DMP you are best using a fee based company such as thinkmoney, or Brightoak, becuase like me, its venturing into a new and terrifying world liasing with creditors and accepting that you have a big problem, but also because the creditors are more likely to listen to a company with experience and credentials, rather than an individual, thats from my experiences.

Just a thought.

Hi Stu

Thank you for your advise. I've since entered my details into the debt help charity and so far so good. Appears very professional and am going to give it a go.

I know what you mean though, you get what you pay for. Not much is free these days, perhaps I will eat my words later....i'll let you know lol

Hey Amanda, do let us all know how you get on, it will be good information for the forum. X

Hi i have a lodger who is in debt , is tstruggling , she has 5k loan and about 300 on next card. She says she pays her dad 100pc. can she includ ethis in a debt management plan? also she accrues moble phone bills of 100 , i dont think this would be acceptable / ? ifo what mounts would be , for oone food , rent is 360 p.cm thanks

Just wanted to keep you all posted. Have sent letters to all my creditors today so fingers crossed and shall see what kind of response i get!!

Just thought I should post to say how I was getting on with my dmp.
I have in the last day or two started to get responses from my creditors to say that they are going to accept my plan. I sent cheques with all my letters for the reduced payment amounts and they have cashed all of these. They are basically going to review this after 3 months and as long as i continue to pay this amount all should be fine. I know I haven’t had responses from all of them (I have 10!!) but i do feel like a weight has slowly started to be lifted off of my shoulders for not a lot of hassle at all!!

Good news Amanda. Lets hope the other ones agree as well.

It certainly does lift a weight off your mind.

That's great Amanda, I'm glad that system works, it sounds great. Fingers crossed you get everyone on board. Keep us posted. X

That's great News Amanda, hope Everyone agrees and please keep posting to let us all know how it goes.[:)]

Great news Amanda ... very brave of you, we will all be eager to see how you get on as your experiences will help others.

Debbie

Amanda - can I ask what short of payment to outstanding balance they have accepted. I only ask because I have recently done an IVA through Melanie and my husband couldn't be included due to various reasons. Doing the IVA meant that we do have a joint income and expenditure, as such, so I know what he had left now to sort out a debt management plan and it isn't a lot. He has just gone into hospital today for more surgery so I am trying to sort his situation out to save him stress.

Hi Elizabeth

I owe roughly £27k between 10 different creditors. Am splitting £320 between them all so paying back roughly 1.1% back to them. So far they all have accepted it. Ironicly it was the ones that were giving me the most hassle who have accepted it, but there you go!!

Good luck

Thanks for that - will give it a go.