Dissolve Debt Ltd

GhostHunter_3

Hi

Has anybody heared of or used Dissolve Debt (www.dissolvedebt.co.uk)?

I have been looking into getting a consolidation loan to clear my credit cards (£5000) but think I have bad credit history. I did a random search on the internet for bad credit loans and came to a search site called Loans.co.uk where I completed my details and they came back with 3 companies who may be able to help. One was Dissolve Debt, the other 2 were UCC and Provident.

Dissolve Debt has already rung me but I was out so they have left a message on answer machine requesting I call them back to discuss options. They say they wont charge a fee etc and not sure if I caught them mentioning they wont try to sell me an IVA (wasnt clear enough).

Just wondered if I should call them back so thought I would check with MSE first to be wise :T Please can someone have a look please at Dissolve Debt and see if their dodgy :cool:

Many thanks.

~Beanie~

Just from looking at their homepage, they don't appear to do loans, they are a Debt Management Company and will most likely try and sell you a Debt Management Program (DMP). They can't sell you an IVA as your debts are not high enough and they will charge you a monthly fee (and probably a set up fee) for a DMP.

The refer you to anotyher website of you cloick on the Debt Consolidation link.

Don't do it!!! If you do want to go down the DMP route, there are Debt Charities that will set them up for free and who will take no monthly charges.

£5,000 really isn't that much, hop over the the Debt Free Wannabee board, there are fab people over there who can help you.

GhostHunter_3

:beer: Thanks I will stay away!

snowhusky

Hi

I just thought I'd add - I entered a DMP with Dissolve Debt nearly 2 years ago after recommendation from a friend. They have been extremely helpful, and took a HUGE weight off my mind, freezing my debts, dealing with my creditors and offering me the chance to set my own payment level based on what I could reasonably afford. They give you the opportunity to 'miss' payments if you are really struggling one month and have really, really helped me.

That said, they charge roughly 15% of what I pay for their fees. I have learnt recently that charities such as the Consumer Credit Counselling Serivce offer the same DMP but without charging for it, so yes the charities are better as you can put more towards paying off your debts, however I would not write off Dissolve Debt as they have been invaulable in helping give me back piece of mind and dignity, and I must add that I found them to be far more courteous, polite, and willing to listen than the CCCS, who were, if anything, rather rude and judgemental.

So it's your choice - yes you do pay a fee to Dissolve Debt, but if the CCCS or such like feel they can't help you, then I wouldn't hesitate to recommend you try Dissolve Debt instead!

Good luck

Aiming to be debt-free by 2013...