Will this work to get me out of debt??? all advise welcome!!

Barney01

Hi,

I am in a lot of credit card and Loan debt and my credit rating has been ruined!! I have searched lots of companies that can help and I think I have found one....DEBT STOP DIRECT. Has anyone heard of them???? I will repay back all the money that I owe as they will freeze the interest. The catch is that they charge a fee for doing this - the fee is 30 A MONTH (built into the repayment) (which is a lot less than the interest would be!!)

so.... Has anyone heard of them / used them/ can recommend them? I am so desperate but don't want to end up further and further in debt!!

thanks

Barney

HappyMJ

Avoid...use a free charity such as CCCS

moraystella

Hi

I have not heard of this company but have had a look. I can see they offer Debt Management or an IVA. Debt Management is offered free of charge by Citizens' Advice Bureau so that might be better. They offer the same service where they contact creditors on your behalf. An IVA has pros and cons depending on your circumstances. Possibly bankruptcy may be a better option depending on assets. I hope this helps.

MrsTinks

So.... you want to PAY someone to tell your creditors you can't afford to pay them in full? And the longer you are in debt the longer they will be getting their pound of flesh right? You don't see a conflict of interest here?

If you can't afford your monthly payments use one of the organisations in my signature - otherwise post your SOA on here and the good people of MSE will help you see where you can cut back and save to bring forward your debt free date

MrsTinks

Oh and they can't promise you that they will get the interest frozen - THAT is entirely down to your creditors good will...

Dave101t

can we have some 'true' 1 posters back please to even up the balance between joke posts and serious ones?