dr debt

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My first post here.
To keep things short I have alot of personal debt c/cards, loans etc. Things are getting on top of me. I phoned a company called debtdr who want me to pay them over 2k to help me sort my finances out. Would I be better going to the CAB. The thing that also put me off is that the guy (debtdr) I met with had very little experience and was given debt advice. Is debt advice regulated. (ie you need cemap to give mortgage advice).

Comments

  • Deep_In_Debt
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    Hi, welcome to the board.

    Firstly, do not go with this company. Contact either CAB, CCCS or Payplan who will help you free of charge and are not out to make money out of you. Their advice is impartial and in your interests only and not to line their pockets. CCCS have a debt remedy on-line tool which will advise you the best way forward in the meantime. If you go on a dmp via any of the companies I have mentioned then all your money will be going to your creditors and not lining the pockets of sharks who prey on people in debt, therefore reducing your debts more quickly.

    Secondly, post up an SOA and all the good people on here will help you to reduce your outgoings so that you can "find" extra money each month to help with your debts and bills.

    Good luck and keep posting.
    Debt 30k in 2008.:eek::o Cleared all my debt in 2013 and loving being debt free :)
    Mortgage free since 2014 :)
  • debt_doctor
    debt_doctor Posts: 4,595 Forumite
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    NO NO NO !:eek:

    Never go with a company like this. Go to CAB, National debtline or CCCS.

    .....and by the way this co. is nothing to do with me !:D

    DD
    Debt Doctor, Debt caseworker, Citizens' Advice Bureau .
    Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***
  • Snow_White_5
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    Hi there billyjohnand welcome! You've definitely come to the right place, and loads of people here have been in your position and so have valauble advice to give.

    I'm not an expert on debt companies, but the one you've been to certainly sounds a bit dodgy, especially since you could tell that the man advising you wasn't that clued up himself. I'd say trust your instincts.

    People on here tend to advise against paying a company to deal with your debts. Yes, phone the CAB. Also, here is some of Martin's advice from another part of the site (I clicked on 'problem debt' near the top of the page):

    The right people to go to
    You need non-profit debt counselling help, in other words a one-on-one session with someone who is paid to help you, not to make money out of you. This is different to ‘free’: many commercial companies say they’re free as you’re not charged directly, but you’ll still pay somehow. The places I'd recommend:
    Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111
    National Debtline - Website: National Debtline Telephone: 0808 808 4000
    Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest
    Community Legal Advice - Website: Community Legal Advice Telephone: 0845 345 4 345



    Hope this helps, billyjohn. I'm sure someone far more clued-up than me will be along to help in a mo. Good luck! :j
  • fermi
    fermi Posts: 40,546 Forumite
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    NO NO NO !:eek:

    Never go with a company like this. Go to CAB, National debtline or CCCS.

    .....and by the way this co. is nothing to do with me !:D


    :rotfl::rotfl::rotfl:

    I did think of you when I saw this, and that you wouldn't be impressed since you are a genuine and highly knowledgeable worker for CAB. :D

    That aside, your advice is spot on. ;)Never pay anyone for debt advice.
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • billyjohn
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    Thanks for the reply's. Will contact CAB & CCCS on Monday.Can't believe that the chap from debtdr had only a few days training and was charging these massive fees. Surely the goverment, local councils, tv, newspapers must warn people that during the CREDIT CRUNCH these companies are a rip off charging these fees.
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