What is the best solution

arj10

My husband and I owe approx 37K on credit cards plus a business loan 12K. Have contacted CCCS who have given us an affordable repayment but we contacted our financial adviser who has put us in touch with a co called Solace. They will set up a DMP and alongside will try to get debts cancelled through bad selling but will charge a fee. What would the best action to take?

Numpty_Monkey

Go with CCCS
and your finicial advisor needs a smack:D

WASHER

Numpty_Monkey wrote: »

Go with CCCS
and your finicial advisor needs a smack:D

I absolutely agree with Numpty, go with CCCS. This is one of the reasons I do not personally rate IFA, they are sometimes in it for the money, mine certainly was, he didn't have my best interest at heart.

The advice was from my IFA, remortgage, and then 5 years down the line when I respent on credit cards...remortgage..Fortunately I woke up and smelt the coffee.

jodan

WASHER wrote: »

I absolutely agree with Numpty, go with CCCS. This is one of the reasons I do not personally rate IFA, they are sometimes in it for the money, mine certainly was, he didn't have my best interest at heart.

The advice was from my IFA, remortgage, and then 5 years down the line when I respent on credit cards...remortgage..Fortunately I woke up and smelt the coffee.

Hi hun, well done on starting to deal with your debts.
I totally agree with these guys. Exact same happened to me, ran up debts and was advised to remortgage,:mad: then surprise surprise ran up more debt. No remortgage this time, almosy cost me my marriage to make it worse. Start dmp with cccs on 1st Oct and gonna be hard few years to pay it off, but will learn lesson hard way and won't be using credit ever again.

Good luck and keep us informed on how your doing. X

arj10

jodan wrote: »

Hi hun, well done on starting to deal with your debts.
I totally agree with these guys. Exact same happened to me, ran up debts and was advised to remortgage,:mad: then surprise surprise ran up more debt. No remortgage this time, almosy cost me my marriage to make it worse. Start dmp with cccs on 1st Oct and gonna be hard few years to pay it off, but will learn lesson hard way and won't be using credit ever again.

Good luck and keep us informed on how your doing. X

Thanks for the advice think from what I've seen in press and on here the best way would be CCCS and then have a timescale when debt will be cleared. Solace didn't give any indication of how long it would take to be debt free just highlighted the fact that they can audit credit agreements via solicitor to get debt cancelled which seems too good to be true. Most credit cards were taken out after April 07 and with well know credit cards so doubt that could be done. Will report on how I get on soon.