Is it true?

jaygrunt

Sorry if this has already been posted

Is it true what some of these debt management companies are saying?
ie. If you pay us a loan we can get most of your debts written off due government legislation.
We have contacted one by phone and they said if you pay us (I think it was 80 quid or something) then we can write to your debtors and get most of the debt written off due to new government legislation.They get something back from the government and they are happy to do this because it is worth it to them

WASHER

Don't believe everything you hear. You should not be using any one who charges for this service when you can get free help and advise from the CCCS, National Debtline or Payplan.

You haven't signed up have you?

If you are struggling with debt, please post a SOA (incomings outgoings) and we will see if we can help, but under no circumstances use a fee paying company, they do not have your best interest at hearts...only their profits.

kaisersoze_2

Did they tell you what this fantastic piece of government legislation was or do you have to pay the £80 to find out?

RAS

This is another of the get out of debt free companies about which the OFT have put out a warning,. There is a whole thread devoted to them on here.

Do nto touch with a barge-pole. The same advice costs nothig on here.

What they are talking about is probably the Consumer Credit Act which is over 30 years old but the new legislation in April 2007 changed the rules in he creditors favour.

It is only "new" because the fee chasers have just discovered it.

jaygrunt

WASHER wrote: »

Payplan.

You haven't signed up have you?
.

No I didnt sign up but was very tempted.They asked us for a couple of debtors names and the we were told the main one -welcome finance- are a joke and we will be paying them back for about another 10 years !!!
We afford the repayments so they 'let' us take out another loan which was smaller manageable payments ,so we are going to end up paying about 2 grand more than the original loan.I know we shouldnt have done but when your desperate and they make it seem like they are doing you a favour you grab it with both hands..Another costly mistake
I 'did' payplan a couple of years ago and paid roughly 6000 in a year to them.To be honest they were useless at doing anything.They couldnt tell us the the outstanding balance on any of the debts and they didnt get the interest stopped and so after a year (this was a about 3 years back now) we gave up on paying - not good I know but the amount of money we were paying them wasnt all going onto the debts (apparently they take quite a hefty chunk)and I really do think in hindsight I could of done a better job than they did.
I am now in a financial situation where we can afford nowhere near the 600 we were paying as my wages per month are just below that !!!!

We have bailiffs after us for non payment of council tax but have just moved so hopefully that will give us another couple of months.
So thats why I asked if the debts can be written off or is it just a scam to get your money.
On the other hand we are waiting for the 'Bank charge claim' which is apparently on hold at the minute and thats worth a few hundred which could pay off the bailiff,but I read if you try to claim through the 'financial hardship' clause the banks will only offer you a goodwill payment and not all of the amount they owe?So I honestly thought this wasnt an option.

Moan over...sorry its sooooo long

RAS

Hi

You need to sort the Council Tax before you even consider what to do about the other debts.

And piost a Statement of Affairs and we may be able to help you.

Deep_In_Debt

I'm surprised at Payplan charging a fee for their dmp's - thought they were one of the non-free dmp providers.

The company who charge £80 just want your money - you can do it for free...well for the cost of postage...from advice on here. No need to pay for a company to do this for you.

jaygrunt

Deep_In_Debt wrote: »

I'm surprised at Payplan charging a fee for their dmp's - thought they were one of the non-free dmp providers.

The company who charge £80 just want your money - you can do it for free...well for the cost of postage...from advice on here. No need to pay for a company to do this for you.

Could you tell me how I can do this for free please !?!?!?!

Is it all legal,will I be able to get a bank account etc or is it like when your bankrupt and you cant get any for a number of years

WASHER

http://www.payplan.com/



Payplan do not charge, its in large font, look at the above link, you must be confusing them with someone else.

Try them, CCCS or national debtline, they are all free, google them and find out, be careful though, I've just googled Payplan and Debtfree solutions (a fee paying company) came up first...cheeky devils.

Numpty_Monkey

I've just checked Martins list
Non-profit Debt Counsellors' List

and payplan aren't mentioned anymore?

To the OP yes you can do it for free and legal:T:D:j

jaygrunt

WASHER wrote: »

http://www.payplan.com/



Payplan do not charge, its in large font, look at the above link, you must be confusing them with someone else.

Try them, CCCS or national debtline, they are all free, google them and find out, be careful though, I've just googled Payplan and Debtfree solutions (a fee paying company) came up first...cheeky devils.

So i was wrong was I?
Sorry for that but I was just asking if anyone could help me,telling me details like that doesnt help me at all