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 Thursday, 20 September 2012
The Financial Ombudsman Service (FOS) has reported today an upsurge of fresh complaints about the mis-selling of payment protection insurance (PPI) as 135,170 new complaints were filed with them in the first half of this year, up by 27% on the previous six months.
Overall 71% of the PPI complaints that were dealt with by the FOS were upheld in favour of the customer, a far higher success rate than for other types of complaint.
Commenting on the complaint statistics released today, Natalie Ceeney, chief executive and chief ombudsman, said:
“The volume of PPI complaints doubled in the first half of 2012 with up to 1,500 new cases now arriving each day and our consumer front-line is busier than ever – taking over 3,000 calls on PPI a day and bringing much needed clarity to confused and bewildered consumers”.
This is an insurance policy designed to cover the monthly payments if the policy holder becomes ill or is made redundant.
The term PPI is also used to describe other policies that you can buy separately to protect your debt repayments - but these are more properly called accident, sickness and unemployment (ASU) policies or income protection.
Thinking of claiming back mis-sold Payment Protection Insurance PPI?
You have two ways of doing this; DIY or employ a firm.
You can enter a claim by using our free templates;
You will need to delete sections that do not apply to you; you will also need to add some personal details.
You will find the template letters at the bottom of this page.
Employ a firm
If you feel that it is too difficult to claim yourself or are unsure how to work out the interest you can add to the claim then we can help.
We have made an arrangement with a firm that will help consumers claim back not only their payments but interest as well! This will apply when it has been proven that you were mis-sold PPI.
This company has been researched by myself as offering a very professional service to any clients we may refer and works on a conditional fee basis so no payment needs to be submitted with your claim. You will be charged a fee if successful.
Need to know more?
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 with a fee of 12% + vat, which is only payable if you have a successful claim.
It's that simple. Take me to: