Debt Free Direct

reformed_man

Many companies that claim to help are like leeches that make their money out of other people's misfortunes.Any fees paid to them could be going towards paying off the debt.

Check out the CCCS, CAB, Payplan or National Debt Line all of which are free and who will be much more use as the creditors respect these organisations and are much more willing to work with them than companies you have to pay money to.

southernscouser

savvy wrote:

Hmm what I'm trying to fathom out is exactly how do they get their money...................they have assured my Dad that their service is free to him, and that banks etc pay them to get their money from my Dad

Probably because they advise your dad to go with X company who in turn pay them a referral fee. :think:

CLAPTON

If we are talking about a DMP then their income comes from taking a proportion of your Dads monthly payment.

so if he can afford say 250 per month, then if he went to CCCS or Payplan they would pass the full 250 on to his creditors, if he goes to a fee paying company they first take their fee then pay the remainder to his creditors.
So with CCCS or Payplan he will be debt free much more quickly than with the fee paying company. Also his creditors know this too, so they are much more likely to agree to deal with the free services as they know they will get more of the available money.

jimbo2069

Hi all first time on the forums, just getting myself out of 55K debt down now to about 12k and it is managable. This is no thanks to Debt free Direct, who managed to take about 3000 quid in all and do nothing to help with my debt. I would avoid like the plague, they are bad news, there are free services out there who won't charge you the amount this group will.

southernscouser

jimbo2069 wrote:

Hi all first time on the forums, just getting myself out of 55K debt down now to about 12k and it is managable. This is no thanks to Debt free Direct, who managed to take about 3000 quid in all and do nothing to help with my debt. I would avoid like the plague, they are bad news, there are free services out there who won't charge you the amount this group will.

Thanks Jimbo. Sorry you had to find out the hard way!

Who are you with now?

savvy

CLAPTON wrote:

If we are talking about a DMP then their income comes from taking a proportion of your Dads monthly payment.

so if he can afford say 250 per month, then if he went to CCCS or Payplan they would pass the full 250 on to his creditors, if he goes to a fee paying company they first take their fee then pay the remainder to his creditors.
So with CCCS or Payplan he will be debt free much more quickly than with the fee paying company. Also his creditors know this too, so they are much more likely to agree to deal with the free services as they know they will get more of the available money.

Hi CLAPTON, that all makes a lot of sense, thanks for that

savvy

jimbo2069 wrote:

Hi all first time on the forums, just getting myself out of 55K debt down now to about 12k and it is managable. This is no thanks to Debt free Direct, who managed to take about 3000 quid in all and do nothing to help with my debt. I would avoid like the plague, they are bad news, there are free services out there who won't charge you the amount this group will.

Hi jimbo and welcome, I echo southernscouser, sorry you had to find out like that, but that's the beauty of this site in that you can pass your knowledge on and hopefully warn others!

How did you get to know how much they were taking, did they tell you up front before you signed up to them??

crystal_clear

Hi there all

Just to add my twopeneth on DFD :eek: :eek: avoid like the plague if you know whats good for you.
Friends of mine desperate to keep the roof over there heads went that route for 3 years paying and paying an absolute fortune and each yearly review unfolded more financial pressure. DFD left them with hardly any cash to buy a loaf of bread then one came out of work unexpectedly.
Regained work again in 4 weeks but at a lower wage yet DFD wouldnt allow them any scope for reducing even slightly to cover the loss of wage and had them declared bankrupt.......
Do not touch them if you know whats good for you they are leeches.

Hope this helps
Crystal

savvy

Thanks crystal clear, I wanted to see any experiences, so that's really helpful :T

savvy

Hi guys, just a quick update..............my Dad is going to be seeing a CCCS counsellor, thankfully he saw the light!!! :j:j Thanks to everyone on here :T:T