Has eny one had dealings with Money Expert and/or Immediate Financial?

bob444

Chigs362 wrote: »

Hi all sorry if I not put this in the correct place,
I have debt which I now have the means to clear but with the intrest on intrest my best estamate is it will take me 30 years to pay off,
Money Expert (not moneysavingexpert) have gone through my situation and say thay can take over my debt and clear me of the debt in three and a half years paying out only half what I need to pay now.
To good to be tru? Has any one elce heard of this company and if so what is your experience with them?
thanks
James

Do not go near them. I join them almost a year ago and now owe more money than when I started. Also they lose you money when they settle. I had 10 payday loans they have settled 3. I cannot afford for them to settle the others.
Bob in Glasgow

bob444

Do not go near them. I joined them a year ago and now owe more money than when I started. They also lose you money when they settle. I had 10 paydayloans they have settled 3. I am paying them £300 a month. I cannot afford for them to settle the rest>
They are hopeless>

bob in Glasgow

juwatty

Hello, I had four outstanding loan, Immediate Financial said the could help me and I needed the help. The took over my loans for me. I took the pressure off me. But they paid the loans off that had frozen interest and paid them first. The fourth one keep adding interest. instead of owing 3.800 thousand, I now owe £4780. It is a stupid idea to pay creditors £1.00 but the put the money together and then offer them a settlement. In theory its great. I have been paying this money off. I know I was close to finishing. So I rang them and said, 'Could you please give me a final settlement figure please' The guy said to me £63.20. I was really pleased so I paid it straight away. I was so relieved to finish paying these debts. After a week I rang them and said why I haven't I received my letter of settlement. Guess what!!!!!!!! They said I still owe £800.00 and until I pay it. I won't be getting a settlement letter. I was furious.
I think anybody who wants to get help. please try Government sites first before these cowboy sites. It will be better for you in the long run and I understand the dont charge 25% either.

so-stressed_2

Hi,
I was speaking to Immediate Financial today, and they said they would take my £9,000 debt for just £127pm. :j I owe 8 creditors and im swamped by them now, and I can not make the monthy payments.
This plan sounds fantastic as I currently pay nearly £300pm to these creditors, ive no where else to turn.
Should I sign up for it?

eyeopener2

REad the thread. If you sign up for this "plan" you will end up owing more than you started with. DO NOT DO IT!

Getting out of debt is hard, getting out of debt is not fun but if your willing to work at it, cut your spending and generally have your lightbulb moment you will get there. We will be with you every step of the way as well, if you want advice and a shoulder to cry on.

Then you can do it.

Contact Stepchange, Payplan or NAtional Debtline and they will talk you through your options.

Do this.

E2

so-stressed_2

Hi,
I have read the thread, omg il not go near it. I will contact those agencies you have suggested, thanks for the advice.

Thanks a million

chevalier

hi chigs, and so stressed

http://www.stoozing.com/msoc/soacalc.php

If you each fill in a statement of affairs (at the link above), then format it for MSE and post it on here (so stressed could you start another thread please then we can tailor advice to you), then you will have a TRUE picture of your income and outgoings, which is a great place to start.

Ref the companies mentioned above, don't touch them with a barge pole. You have been given the names of the free companies, which are great for some people. They certainly seem to relieve a lot of the stress.

Even if you can only pay a pound, things change. You may get a pay out of some kind, or a promotion or pay rise, or new better paying job. All of these will shorten the time it takes to repay the money. So don't be disheartened by how long AT THE START you are told it will take to pay off.

And come on here for support.
Good luck
chev