Does anyone have any feedback please. I am about to sign to set up my DMP with either Harrington Brooks of Bright Oak. Any comments would be helpful to me for making my decision.
I used a firm called Hamiliton Locke who were excellent.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I can peronally recommend BrightOak as an exceptionally good firm with a very high reputation with creditors - but Harrington Brooks do have a good reputation as well and their IP has occasionally posted on the forum.
What differences did you notice in the level of advice given by both firms? And do you see some benefit in talking to a couple of firms to compare the advice and service levels, rather than relying upon the first one you tried?
Hi Melanie to be fair both firms were really good to me with advice. I understand that HB are a bigger company so they would not give me the same personal feel at BO. The other down side is that HB have contacted me today and asked for money upfront (even though I told them that I had paid all my creditors this month and would not be able to start my DMP until Sept payday). They have asked for a part payment so they can get the ball rolling (I am feeling a little pressured by them). Andrew at BO was lovely and as I type this I am looking through the info he has sent me. My concern is also if HB are bigger have they go more "clout" to getting my creditors to agree to freeze interest. My gut feeling is Bright Oak I just need more re assurance (what a wimp I sound lol)!
DMP companies do not need money to get balls rolling, so the fact that you cannot start making payments until September should not be an issue. Why not tell both companies that you cannot make your first payment tunitl the end of September and see which one is provided to move now.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I reckon you have made the right choice, when going through a process which is not very comfortable, having people working on your behalf who you feel comfortable with is worth so much!!!
That is why i am with Vincent Bond, and so far i have only positive things to say. I am just over one month into the process and feel so much better. It was really nice to get my credit card statement this morning from MBNA with 0 in the interest column!
I am so pleaed for you jaygee - cant wait to see 0 in that box myself. How long does the process take ? The end of the month will be the first payments I will not be making (instead sending my money to Bright Oak) - When will the phone calls start?
August was my first month of non payments, letters went out at the beginning of the month after my first payment to VB, started getting phone calls about a week later. I have been lucky so far, the people on the phone seem to be reasonable and understanding, have had to be firm a couple of times and just say that 'i can't deal with it and you will have to talk to Vincent Bond' . I have not had a call for nearly two weeks now.
i got my first acceptance just over two weeks after the letters went out. I have 10 creditors, so far i think 6 have agreed. Only HSBC seem to have done nothing at this point.
I will look forward to the calls coming in beginning of Oct then. Just hope they dont phone me at work. I will let you all know of my progress. Bright Oak should get all my paperwork by tomorrow, so hopefully they can get to work on it. Out of the 6 creditors that you have , how many have agreed to freeze your interest and for how long ? I am so looking forward to actually paying some off each month. Good luck to you too Jon
I will double check, but am pretty sure all six have frozen interest, and i think most of them have said something along the lines of, 'we will review it' so not sure exactly how long that will be.
It will feel good to start making inroads to the debt, also it feels good to know more or less how much is going out of my account and what i am taking home, and having done one month on the budget i now know that we can do it, but i am sure there will be tough months.
