Why pay fees for a debt management plan? See how much we could save you
A fee charging debt management company is a firm that will charge you for debt advice and debt service. They usually take the first two months’ payments into your plan as upfront costs followed by 15% of your monthly payment plus VAT. The New Protocol launched in February 2013 will mean that the up front fees will be taken over six months. See Debt Management Protocol
There are some good fee charging firms operating in the debt industry and if you are happy with your firm then fine. However there are some shockers out there and we have the following guide to help you spot them, see our 7 point guide to spotting a dodgy debt advice website!
If you are thinking of starting a debt management plan or wish to transfer to a 'non' fee debt management plan and not pay fees then see how much we can save you by using the slide bars on our unique fee saving calculator above.
Page last updated Friday, 08 June 2012
So, just how easily can you spot that dodgy debt advice website?
You can do this in about one minute of your time, that’s all, and if you find that even just one of the following points applies to the website you are looking at then the alarm bells must surely ring out.
Does the website clearly show the following?
1. A link clearly explaining their fees
2. A link to their complaints policy
3. A link stating that any debt option will affect your credit rating
4. A link offering contact details of the debt charities as an alternative
5. A telephone number to call, that is UK based and with an address to write to
6. Details of their membership with a trade association such as DEMSA or DRF *
7. A link to ‘The Insolvency Service Debtor’s Guide’ **
** The Insolvency Service Debtor’s Guide is required by the Office of Fair Trading to be in a prominent position on the home page of any debt management advice website.
Do the two minute test
Try Googling ‘debt advice’, as I did on 29/4/12 and compare a few debt advice websites (don't forget the sponsored links as well) against my 7 point test and see how they compare against www.debtwizard.com. Most websites that came up failed miserably!
Having just spent around two minutes examining the website, ask yourself this question, ‘Do you feel you can you trust them’? If the answer is no then you know what to do, don’t you?
Are you owed thousands of pounds in mis-sold Payment Protection Insurance (PPI)?
If so we can help you claim in two ways, either use;
our free DIY template letters, or
a firm to help you with a LOW FEE of 12% + vat
Our recommended firm will handle all the claim on a "No Win, No Fee" basis for a fee of just 12% + vat, which is only payable if you have a successful claim.
It's that simple. Take me to: