Spectrum Financial Protection

inmymind_2

Hi all,

Is this company still in business? On the companies house website its status shows as "Active - Proposal to Strike off" !

Not intending to take out a policy with them, before you say anything. Just thought it might be some interesting information for people who are with them.

Cheers

De62

I've been with these since early last year and upto May'ish time had no problem at all with them but since needing there advice over a company trying to enforce bankruptcy on me this past week they've been rubish, so much in fact I've sought advice from other free companies.

Deep_In_Debt

Interesting. My ex oh "signed up" with them about 3 years ago, paid a fee to them and never heard from them again, despite his phone calls and letters, they never returned his calls or letters.

inmymind_2

Does anyone know what exactly the "active-proposal to strike off" bit means?

poormick

any news on this?

eastleighjim

active proposal to strike off means that they are behind with filing their accounts etc and Companies House are about to strike them from the record after which the company will then be dissolved (buried i.e will no longer exist).

poormick

eastleighjim wrote: »

active proposal to strike off means that they are behind with filing their accounts etc and Companies House are about to strike them from the record after which the company will then be dissolved (buried i.e will no longer exist).

thats bad news lol i have had an account with them for quite a while does anyone have a phone number for them as i cant seem to find my statements since we moved house

l3ggy

spectrums client helpline no is 08700 42 42 42.
What does this mean for clients?
We have been with spectrum for coming up 4 1/2 yrs. (we were led to believe we had an IVA but it now turns out it isnt, so we been paying merrily thinking there was an end in sight only to recently find out we will just keep on paying and paying and paying!!! wish I hadnt just believed what their salesman....ooops I mean debt counciler told us. Alway read and reread the small print!)
Does anyone know what this means for us?
what happens to the payment plans they are managing for us:question:

Deep_In_Debt

l3ggy wrote: »

spectrums client helpline no is 08700 42 42 42.
What does this mean for clients?
We have been with spectrum for coming up 4 1/2 yrs. (we were led to believe we had an IVA but it now turns out it isnt, so we been paying merrily thinking there was an end in sight only to recently find out we will just keep on paying and paying and paying!!! wish I hadnt just believed what their salesman....ooops I mean debt counciler told us. Alway read and reread the small print!)
Does anyone know what this means for us?
what happens to the payment plans they are managing for us:question:

Not totally sure to be honest. I should imagine that everything you've been paying to them will just disappear in a big black hole and you'll probably find your creditors have received very little, if anything. I would suggest you contact on of the NO FEE charities - CCCS, Payplan or CAB who will advise in your interests.

My ex OH thought he was signing up for an IVA but it was a DMP, which sounds like what you have.

Sorry to be the bearer of doom and gloom but I think you would be best cancelling now and contacting one of the companies I have recommended.

l3ggy

Deep_In_Debt wrote: »

Not totally sure to be honest. I should imagine that everything you've been paying to them will just disappear in a big black hole and you'll probably find your creditors have received very little, if anything. I would suggest you contact on of the NO FEE charities - CCCS, Payplan or CAB who will advise in your interests.

My ex OH thought he was signing up for an IVA but it was a DMP, which sounds like what you have.

Sorry to be the bearer of doom and gloom but I think you would be best cancelling now and contacting one of the companies I have recommended.

Thankyou. Been looking all evening to find out any info on the company formaly known as spectrum.
looked at cccs too.
Just hate the thought of 4 yrs wasted and having to start again.:(

Deep_In_Debt

l3ggy wrote: »

Thankyou. Been looking all evening to find out any info on the company formaly known as spectrum.
looked at cccs too.
Just hate the thought of 4 yrs wasted and having to start again.:(

I can totally understand that. Not sure who Spectrum were or what they were about, but they were good with the sales pitch and happy to take OH's dosh and then not answer the phone or do what they were paid to do.

Unfortunately, there are so many of these sharks out there willing to take money from people already in debt. Think they were featured on Watchdog a couple of years ago.

Please do speak to CCCS, Payplan or CAB who are not out to make money out of you but advise in your interests.

I'm sorry that you have been "ripped off" by this shower - a lesson learned, I guess.

Wishing you the best of luck.