Help needed re Kensington Financial management consultants

Forumgirl

Hello,


I have just visited my MIL, who while there got quite upset and broke down about some debt she was in. On further investigation, I discovered she had run up £3000 on catalogues and while paying it she was approached by a company called Kensington Management Consultants for a payment plan to help reduce the debt.

I had a look at the fee schedule she was sent, for the debt of £3000 she will be paying £80 a month for the next 80 months (she was paying a lot less before hey took over the debt).


The breakdown is £44.75 to creditors with a monthly management charge of £35.75 on top,

they also say that she has to pay an initial fee of £80 upon receipt they will pay a referral fee to JD Williams grp of 130% of that payment as a fee.

I had no idea any of this had gone on and she took this out in October of last year

My MIL is 73 years old, she didn't know what she was doing, she is a pensioner and lives in a council flat on a pension. I rang them up and asked them what they were playing at and had they sent anyone to meet her as she is delusional, they said they did not and she signed there terms and conditions (which she can't find)

What can I do about this, I will put in a complain next week, but wanted so advice, as anyone heard of these before? What they're doing is immoral, I had no idea this had gone on.

It works out she is paying more than double, until she is nearly 80

Tixy

Hi

First off find out what the cancellation policy is for kensington (its often 4weeks notice in writing) - and then cancel that straight away. (maybe on their website if not request a copy of the T&C/agreement she has signed).

Then get your mother some advice from one of the charity organistions listed here https://forums.moneysavingexpert.com/discussion/2077631

EDIT - http://www.kensingtonfinance.co.uk/terms.asp see section 6 re termination - has she paid anything yet? if not is she within the 14day cooling off?

Forumgirl

Yes, she has been paying since October,


The thing is she was paying £60 a month to the catalgues, but now this place charge her £80 a month over a longer period of time don't know why she thought that was a good deal :eek:

Thanks for your help

Tixy

At least you have found out now and can help her out.

oh and I have never heard a good word about kensington on this forum from a genuine poster.

Forumgirl

They are proper shocking, I could not believe what I was reading. I asked her why she never said anything she said she was embarrassed, we could of sorted something out if she was struggling, we didn't even know she was ordering from catalogues.