Help with Knightsbridge

Eodroa

Hi,

In 2009 i took out a DMP with a company called William Goldberg, basically i could not deal with the debts after making an aggrement with them i chose to pay £100 a month towards my debts.

At the time i was under the impression that my £100 would be divided between my creditors, not be able to deal with it i was more than happy with this arrangement after being told they would get the interest frozen and no more charges. This continued on till now where ive just opened a letter from Knightsbridge to find that £25 of that £100 goes to them each month.. something i did not agree to when i started this DMP with them... After this i decided to look at a credit card statment to see how much was left to get paid.. it turns out that since i took the plan out with them about 20 months ago and paying £50 towards one of my cards ive only managed to clear £400... the statement shows that im being charged interest, late payment fees and interest on a transfer balance... so im paying knightsbridge £25 a month so i can pay £20 to my bill.

Ive tried calling the card company who basically told me the payments from knightsbridge are being made of random dates each month and some months not at all and this was passed to a debt collector in October last year..

Right now i dont know what to do or who to contact since knightsbridge are no help atall...

Any advice would be appreciated.

Additional Details - They have been taking the payments from my debit card every month and not a direct debit as i was told i set up originally, The card company have stated it was passed to a debt collectors because the payments werent being made, but after contacting them i was told it was passed back since they started again, Although there was no reason for them to stop as after contacting my bank i found the payments were made every month for the last 12 months.

katsu

Find out what notice period you need to give the William Goldberg people (a month maybe? check your paperwork from when you started the plan with them). Then contact a free provider like CCCS or Payplan (see the "sticky" thread on the forum for contact details to make sure you get the right people) and take up a DMP with them instead. They will put that extra £25 towards your creditors.

fermi

Are you sure that the £25 wasn't in the T&Cs? There is normally a % fee or fixed minimum charge. These companies normally do their best to gloss over or hide that though.

As above, dump the Knightsbridge/William Goldberg and go with a free provider.

See: https://forums.moneysavingexpert.com/discussion/2077631

That way, creditors should get a more reliable monthly payment, and everything you pay will go towards paying off your debts sooner, rather than lining the pockets of some vulture.

Eodroa

Thanks, ive requested a copy of the terms and conditions from them to have a look.

But what im more worried about now is where the payments that i have made have gone.. in the last 12 months ive made more payments to them than have gone towards my debts..

fermi

Sounds like they need to be added to the list of companies that the OFT have been looking at here.

OFT crackdown on debt management firms