Fuming

girlypink

:wave:

I just had to come on and vent to someone, i have been talking to a friend of mine who had an appointment in his home regarding his debt. They basically told him they would be able to get his debts written off, something i think we all hear over the tele now which is so wrong.

Anyway, this chap visited his home and after insulting my friend regarding his disability went on to advise him to take on one of their debt management plans, this would consist of a payment to them split over 3 months of almost £1000 for setting it up then smaller payments which they would take up to £50 a month in "fees". Although this wasnt the part that riled me the most.

This man actually told my friend that he would be able to do this "agreement" for a year or two and create some savings and once he had built up his savings he would be able to pay his creditors a lump sum to write off the debt (basically from what i can gather a "full and final settlement") He was told it may affect his credit rating but he shouldnt get any default notices or CCJ's or anything like that.

Surely this is untrue and extremely misleading, ive put him in touch with CCCS now and begged him not to touch this company. But is there someone/somewhere you can complain about these kind of things? People are being told they can pay a little bit to the companies for a few years and wipe off the rest and thats just not true....... Is It???

If anyone is interest the company is called EuroDebt if anyone has heard of them or dealt with them before??

Tixy

Yikes girlypink :eek:

You are right this company is blatantly lying to your friend. Hopefully he didn't sign anything with them? Good job you got him in touch with CCCS.

This company should be reported for misleading information but there are hundreds of them out there and surely some people at least are signing up paying huge amounts in fees and getting into much worse debt problems. All we can do is to try to highlight the issues and the right people to go to. :eek:

DarkConvict

I believe the Ministry of Justice regulate the debt management companies because of what you say, they lie, a big lie at that too. Might be worth getting in touch with them and see if they can point you in the direction of submitting a complaint.

lastrequest

I have had dealings with this company in my work.
One of their advisers suggested that my client take out more debt on the last bit of credit on his credit cards to pay the up front fees of £3000.
He did this. He thought he was entering into an IVA but turned out to be a DMP with a monthly charge on top.
They should be reported to the OFT who could revoke their operating licence.