Screen Shots of System:
Enter Summary information to generate your payment plan. There are help
tips that suggest the appropriate budget for household expenditures (otherwise
creditors may not accept the plan):
Your payment plan (which can be viewed as a PDF - as below). Will then be
generated. This will give you a complete breakdown of your expenditures, income,
debts and assets. More importantly it will details how much of your disposable
income you should be paying to creditors (and how much to each):
The creditor summary page shows you all of your creditors and their
current status in your payment plan. (IE are have they agreed to the plan or
not, how many letters have you sent them, how many payments have you sent them,
etc.)
The creditor management screen allows you to add notes, record payments
that you have sent (via cheque). You can also generate template creditor letters
to notify them of the payment plan and to freeze interest rates and charges:
The letter template section of the site allows you to generate template
letters for your creditors. These letters come with the address and creditor
details of each of the creditors you have specified. The letters also include
the information you have already submitted (like payment amounts). All you need
to do is print and send off.
Here is an example of a templated letter (in PDF format) that explains to
a creditor that you are setting up a DMP and that you would like interest rates
frozen:
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FAQ
What
does this service do?
1) Generate a financial summary that clearly shows your financial
situation to creditors.
2) Generate a payment plan that shows what you can afford to pay
each creditor
3) Use our automatically generated legal template letters to
reduce your payments to the amount you can afford
4) Use our automatically generated legal template letters to get
rid of interest rates and refund unfair charges.
5) Track your cheque payments and the status of
your payment plan.
What are the Costs?
Most debt management plan companies charge you £300 set up and 15% a
month fees.
We are a registered charity and the service is
completely free.
NOTE:
-Our system will help you set up and manage
the plan, but it is still ultimately down to you to be
responsible for it.
-You will send off your own payments direct to each
creditor (usually as multiple monthly cheques or
standing orders)
Who is
DebtHelpCharity?
DebtHelpCharity.com is part of
the Insolvency Advice Association.
The Insolvency Advice Association is dedicated to
helping people in debt and is supported by sponsors and
donations from industry.
Our charity number is: 1119118.
More info
Is there any Support?
We have telephone support but would prefer that you post
questions on our online forum.
I have a
question
No problem, simply visit
this page and complete
the form to get an answer.
This is great but I want someone else to do it for me
Unfortunately we do not have the
resources to help every individual set up and manage
their plan.
If you want someone else to set it up for you and to
handle the payments (so you pay one monthly payment)
then we suggest that you look at one of our recommended
fee charging
companies.
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