Wentworth Direct

tazzyrox

Hi, has anybody dealt with Wentworth Direct previously? I'm looking for any information on them as I applied for a loan with them (debt consolidation as I have bad credit and am in a credit management plan but the management company are taking 40% of my payments for themselves and I need a cheaper option).

Wentworth wrote to me saying my application was successful and saying I need to pay a £70 admin charge before anything else can happen. When I didn't respond, they sent me another letter saying the admin charge is no reduced to £60.

This happened to me with a different company a few years ago, I paid £80 admin charge and never heard from them again so would like to check that Wentworth are a "kosher" company before passing any money over.

Any help guys?

Wutang_2

You are in dmp?

antrobus

Anthony Grant Clayton trades as loan broking firm Wentworth Direct Finance, which we've featured for taking arrangement fees from customers who say either they didn't give permission, or that they never got the promised loan. Based in Meopham, Kent, Clayton, 46, has the highest proportion of complaints upheld (93%) of any credit firm.


http://blogs.mirror.co.uk/investigations/2011/03/wentworth-direct-worst-for-omb.html

poppasmurf_bewdley

It's a reputable company, and you will be okay with it.

(And you deserve to lose your money).

tazzyrox

I am trying to get a loan to pay off the debt management company and individual debts that are included in the dmp that I voluntarily entered before things got too bad Hence the term 'consolidation'). This method would mean that I would pay less in the long-run as I wouldn't be paying 40% to the management company which is explained in the initial post. I am NOT in an IVA as my debt level is nowhere near high enough for that so this method is entirely possible.

Thank you for that completely inaccurate character assassination though. What makes you think that I haven't already discussed this option with financial advice specialists? I am not contemplating borrowing any more than the outstanding amount and am simply trying to find a way to pay off my existing dmp sooner. I have no additional outstanding debts

Thank you for the real advice:)

fozmcfc

It is against the terms and conditions of a DMP to apply for further credit. Those who do can find that the DMP they are on is finished.

Besides all of that, there are numerous threads about Wentworth Direct taking fees from people and they get nothing in return, but empty promises.

https://forums.moneysavingexpert.com/discussion/3814637

Basically anyone looking to enter a DMP should speak to the CCCS or Paypay, who do not charge any fees for their DMPs. I don't know if it is possible for you to switch your DMP to either of them.

Go over to the Debt Free Wannabe boards on this forum and post up your situation, tons of people who can give you decent advice.

Best advice I can give is forget all about Wentworth Direct you will get nothing from them.

tazzyrox

Thank you very much for your advice

It was the CAB who advised me of the current plan of action, they advised me to cancel my dmp myself and then contact the creditors directly and pay them off using a company with lower fees (they said I didn't owe enough to use the company they generally use)

I will look at all angles before making any changes and will look at the possibility of simply switching to a no-fee dmp instead. I would much rather use a forum where people are likely to give practical advice as opposed to simply abusing somebody because the responder misconstrued a query.

The plan is to get debt-free - not to incur additional debt!

Apples2

tazzyrox wrote: »

I am trying to get a loan to pay off the debt management company and individual debts that are included in the dmp that I voluntarily entered before things got too bad

Things are already "too bad" if you need to enter a DMP, it isn't done for fun.

tazzyrox wrote: »

This method would mean that I would pay less in the long-run as I wouldn't be paying 40% to the management company

CCCS or Payplan would pass 100% of your payments to your creditors, it was your personal choice to throw 40% at a bunch of scammers.

tazzyrox wrote: »

What makes you think that I haven't already discussed this option with financial advice specialists?

Becasue you have ended up paying 40% to a bunch of ambulance chasing DMP scammers, and you appear to have no idea that a condition of entering a DMP is NOT to apply for any further credit. In fact, Payplan would have thrown your DMP out if you tried it with them.

tazzyrox wrote: »

I am not contemplating borrowing any more than the outstanding amount and am simply trying to find a way to pay off my existing dmp sooner. I have no additional outstanding debts

You seem to have decided a further advance of money to you is not a loan, sadly it is, you are not paying your existing creditors the amount you agreed to, but expect someone else to throw money in your direction. It's as wrong as it is unlikely.

tazzyrox wrote: »

Thank you for the real advice:)

No problem.

fozmcfc

Harsh as Apples may seem tazzrox, they do speak one hell of a lot of sense.

As I say, try the debt free wanabee section.

Apples2

Apologies if I come across overly harsh, grates my bones to see someone not repaying loans looking for more. We see the downstream consequences of this daily on here.

malkyh

Apples2 wrote: »

Apologies if I come across overly harsh, grates my bones to see someone not repaying loans looking for more. We see the downstream consequences of this daily on here.

Yeah, hang your head in shame. Remember the OP has already discussed this with financial advice specialists. Not very special if you then have to ask advice on an internet forum if you ask me.