Kensington Finance ?

tony2347

Have been looking for a loan with various companies and am pretty much resigned to not getting one due to a poor credit rating. Have just recieved a telephone call from Kensington Finance, all very nice but basically suggesting putting all debts (£19k) into one basket on what sounds to be a re-mortgage, which in normal circumstances i know there is little chance in getting as i have a CCJ. Anyway they have gone off to see if they can do anything so i wait with baited breath.
Any reports good or bad re. this crowd. Having spoken to the likes of YES Finance and this Wentworth crowd you get scepticle on all and infact harden up........Any thoughts on Kensington Finance please

Apples2

Run for the Hills..

They rang YOU out of the blue - that should be enough.

If they are suggesting pooling your debts, it sounds more like a DMP - they will fleece you dry and your problems will escalate.

A Secured loan carries more problems too if this is the route they are suggesting, you will be at real risk of losing your home and the interest it will attract will cripple you.

KingElvis

I would forget this or you'll be out of pocket and potentially out of your home.

tony2347

As I thought, abandoning a loan idea for a year or so. What it was i was phoning Reliable Collections to come to an arrangement on paying a catalogue debt and they passed me onto someone who took a few details and hey presto Kensington rang.

fozmcfc

If your debts are mounting and you are seriously thinking of entering into a DMP, then you're best speaking to Payplan or the CCCS about a DMP.

They will advise you if you can enter a DMP agreement and help you all the way and it's even FREE with them.

Try the debt free wanabee boards, for more advice/support, many are on DMP's with Payplan or the CCCS.

Someone like Kensington Finance, could probably manage a DMP for you, but it will cost you dearly (they will reduce your payments for their fee, meaning it costs more and takes longer to pay off) and with some of these companies they make a few payments, then stop paying your creditors.

Even those companies who actually help people with their DMP and stick to what is agreed with the customer, will still always charge a monthly fee.