Quick - Eurodebt - any experiences ???

cfp_2

Have to say that up until now they've been pretty much OK - OK it wasn't cheap, but the relief of handing my problems to someone else was fantastic. After 18 months things have gone off the boil a bit and some of their original claims are not proving to be quite so true - do I feel a muppet? Not really - when you are in serious financial trouble, you'll do anything to get things straight.

One piece of advice I can offer (in my experience) is that you have to treat your whole debt issue in a very business like manner - you cannot let your emotions run away with you. My creditors were pretty vile at the start, but I never let them beat me up about the situation, you simply have to tell them extremely politely that things are in hand. It did work for me and I found that after a while things quietened down and they all fell into line. I'm sure that the free debt agencies can help with this, but the one thing I will say about Eurodebt is that they took the flack and absorbed the worst of the creditors wrath! For that I was grateful at the time.

I now find myself in the position that the claims about big reductions being offered in full and final settlement are pretty hyped (this was their big selling point to me) and I feel somewhat frustrated that I gone as far as I have, and ended up without the outcome I was hoping for.

So where do I go now? - Am considering Payplan - does anyone have any experience? I realise with the experience I have picked up along the way that I now have the confidence to deal with my creditors directly - is this the way with Payplan - I am assuming that being a free agency, the service they can provide is relatively limited compared with a paid for agency, I may well be pleasantly surprised.

Donedoingdebt

cfp wrote:

:

So where do I go now? - Am considering Payplan - does anyone have any experience? I realise with the experience I have picked up along the way that I now have the confidence to deal with my creditors directly - is this the way with Payplan - I am assuming that being a free agency, the service they can provide is relatively limited compared with a paid for agency, I may well be pleasantly surprised.

Like yourself, I gained the confidence to deal with my creditors directly after being with Baines & Earnst for about a year. It is really easy. I gave B&E a months notice & cancelled my S/O. I then WROTE to my 7 creditors, requested S/O forms off all of them & offered to pay a little extra each month out of the savings made by not paying fees. Not one of them refused. Some of them have contacted me by letter offering early settlement figures, but unfortunately I'm not in a position to do this. I'm not knocking any of the free helplines (Payplan, CCCS or CAB) in any way but if you feel up to doing it yourself then perhaps you don't need them now.

Andrea2528

Hi,

Can anyone give advice please? What can someone do to cancel with Eurodebt when they've already paid some of the upfront fee. Are we able to go back on it? What are the options to pursue?

Dr.Shoe_2

cfp wrote:

:.. I am assuming that being a free agency, the service they can provide is relatively limited compared with a paid for agency, I may well be pleasantly surprised...

If you assume you make an A.S.S out of U and M.E.!

Neither payplan or CCCS are free agencies they are funded by the banks and credit card companies and some money comes to CCCS because they collect your payment at the beginning of the month and pay your creditors at the end and then take the interest in the meantime. This means that these agencies cost you nothing and every penny you pay goes towards your debts.

In the case of Payplan, they offer other free services too such as acting as insolvency practitioners etc.

You will be pleasantly surprised!

Dr.Shoe_2

Donedoingdebt wrote:

Like yourself, I gained the confidence to deal with my creditors directly after being with Baines & Earnst for about a year. It is really easy. I gave B&E a months notice & cancelled my S/O. I then WROTE to my 7 creditors, requested S/O forms off all of them & offered to pay a little extra each month out of the savings made by not paying fees. Not one of them refused. Some of them have contacted me by letter offering early settlement figures, but unfortunately I'm not in a position to do this. I'm not knocking any of the free helplines (Payplan, CCCS or CAB) in any way but if you feel up to doing it yourself then perhaps you don't need them now.

I run my own DMP at the moment and it's working rather well. I have the balls to ask for refund of charges and frozen interest etc. which most have done- even MBNA! :beer: