We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Spectrum Financial Protection
eesti23
Posts: 2 Newbie
Does anyone know anything about Spectrum Financial Protection? They came round last night and while we don't qualify for an IVA (we make to much - haha) they were trying to arrange an Informal Debt Solution - Single Payment Plan. I am a bit concerned as the lady was there from 7-11.30pm, was quite encouraging us to sign up then and was telling us not to pay our bills for three months...all a bit scary!
I would really like to know if this is a safe company with a safe plan...
Thanks!
I would really like to know if this is a safe company with a safe plan...
Thanks!
0
Comments
-
Short answer - nooooooooo!!! :eek: Go through the CCCS or Payplan (links towards the top of this page - they are free (other than charging standard fees for the setup of an IVA if applicable) and impartial.
Operation Get in Shape
MURPHY'S NO MORE PIES CLUB MEMBER #1240 -
Don't be forced into any decisions by anyone who comes to the house - they are obviously sales people, who will, naturally extoll the virtues of their own product. Check to see what options are available you should phone people like PAYPLAN or CCCS. I have not heard of Spectrum, and they MAY be a perfectly respectable company, but I would be extremely suspicious of a rep who stayed for 3 hours - what did you talk about?I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
rog2 wrote:Don't be forced into any decisions by anyone who comes to the house - they are obviously sales people, who will, naturally extoll the virtues of their own product. Check to see what options are available you should phone people like PAYPLAN or CCCS. I have not heard of Spectrum, and they MAY be a perfectly respectable company, but I would be extremely suspicious of a rep who stayed for 3 hours - what did you talk about?
To give her some credit she did go through all of our creditors, expenditure and income. It did take slightly longer as she was originally doing it for an IVA and then had to re-do for the Informal. However I agree with you that 3 hours was very long and set off warning bells in my head (thinking House of Horrors here!). Had not heard of PAYPLAN or CCCS so will check them out too.
Thanks!0 -
Still round your house at 11.30 pm! You should have slung her out at 8.30! It's pressure selling to desperate people.
The reason she was there is she's in it for the commission. If she calls again, tell her to go away.
They may well be a reputable company, but I have doubts, as pushing for sales at 11.30pm at night in someone's home is not a reputable way of conducting business!"One day I realised that when you are lying in your grave, it's no good saying, "I was too shy, too frightened."
Because by then you've blown your chances. That's it."0 -
eesti23 wrote:To give her some credit she did go through all of our creditors, expenditure and income. It did take slightly longer as she was originally doing it for an IVA and then had to re-do for the Informal. However I agree with you that 3 hours was very long and set off warning bells in my head (thinking House of Horrors here!). Had not heard of PAYPLAN or CCCS so will check them out too.
Thanks!
Just follow the links at the top of the page. These organisations are charities, their information is FREE and IMPARTIAL.
Good LuckI am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
CCCS or Payplan all the way. Give them a bell and I PROMISE you wont regret it. Go with these guys and likelihood is you will.Debt as at 12th July 2006 - £61,345 :eek: :eek: :eek:
Debt free 21st Oct 2011.
All thanks to :money:0 -
I used to be with these, rip offs, go with payplan. Oh, and I actually did chuck them out at 9.30 too.0
-
If they come back and try to pressurise you into signing, just ask them for a straight answer about how much they will take from your monthly repayment amount. If it's not £0.00, then tell them to go forth and multiply.
CCCS or payplan are the only ones....
xSome days, it's just not worth chewing through the leather straps....
LB moment - March 2006. DFD - 1 June 2012!!! DEBT FREE!
May grocery challenge £45.61/£1200
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards