I have been in a debt management scheme for 2 years now paying £96 a month to clear off £30000 worth of debt the company who manage my debts take £38 of my monthly payment as there admin fee so more than a third of my payment does not go to my creditors which I think is a RIP OFF there total fees in theory will be over £17000 by the time I pay the debt off in 40+ years if I am still alive . This is getting me down can I go bankrupt???
Unfortunately Debt Management programmes do take a long while to pay off. There are companies out there who don't charge (Payplan and Step Change).
Do you have any assets that would be at risk if you went bankrupt?
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
Speak to your DMP company and get some advice regarding other options, or speak to an expert on here or the CAB. There are other solutions available, bankruptcy being one of them.
Debt Management of Bankrupt ?
Posted - 26 September 2013 : 13:01:03
