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 Tuesday, 18 September 2012
With immediate effect (17 September 2012) the bank is no longer accepting new customers who are un-discharged bankrupts; this decision does not affect the bank's existing customers.
The bank is blaming ‘Industry failure on financial inclusion’ as the reason why it had to review withdraw the basic bank account. Claiming it has a disproportionate market share of the basic bank account market that has continued to grow significantly and that they now need to take steps to address this.
For a number of years now The Co-operative Bank has been only one of two providers in the market who offer bank accounts to un-discharged bankrupts, the other being Barclays Cash Card.
Whilst the bank will no longer be opening new accounts for un-discharged bankrupts, it says it remains fully committed to working with existing customers who find themselves in financial difficulty.
Basic Bank Accounts
A basic bank account enables a person to have their wages, benefits, and cheques paid direct into it. To get money out the customer will use either a cash machine, (ATM) or go to the Post Office. They operate similar to a current account but with no overdraft facility or access to credit and are often referred to as a 'simple account'.
Going bankrupt and not sure on how to fill out the forms?
If bankruptcy is for you then why pay a firm between £500 and £1,000 for them to help filling out the bankruptcy forms? We show you how to do it for free, what to expect at court and what to say to your creditors, plus lots more! Bankruptcy Support Guide
Read Mike's blog Why do UK Banks see Bankrupts as pariahs of society?
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: