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 show 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 the plan,
but it is still ultimately
down to you manage it.
-You will send off your own
payments direct to each
creditor (usually as
multiple monthly cheques)
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 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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