Gregory Pennington

LulaBel127

Has anyone used this company or their bank, ThinkBanking? I am talking to them right now but haven't signed anything and am wondering if anyone has any dealings with them, any advice etc, please?

antonic

If you sign with them, you will be paying someone to manage your debts for you.

You are far better speaking to CCCS or Payplan, who provided the debt is large enough, will do it for free.

(I am a satisfied Payplan customer who has only 6 months to go out of a 7 year plan - see my sig for details).

deep_in

I used to be think banking a few years ago and there were a number of times my card got declined even though the funds were there. The fees are quite high too I wasn't too happy with them and eventually moved to a basic bank account with another bank.

Grumpelstiltskin

LulaBel Do not touch them with a barge pole. NEVER pay any company too sort your debts out despite all the bull**** they will give you.

Depth_Charge

Hi Lulabel

All the money goes to paying your creditors with CCCS & Payplan and no up front fees or keeping the first one or two months payments etc.

You could also consider going it alone / self managing if you feel confident enough as the OFT guidelines on collection apply just the same.

Two award winning sytems below however their are others

http://www.cashflow.uk.net/

http://mymoney.nedcab.org.uk/moneyadvice/

Going it alone / self managing is not for everyone so your choice really.

OFT guidelines on debt collection

http://www.oft.gov.uk/news-and-updates/press/2011/113-11

Have you had full advice on your debts?

LulaBel127

I appreciate what you are saying, with them taking money to do this for me, but the reason I went to someone like them is precisely because I am so bad with my finances, I need someone else to do it! However, I will look into CCCS, so thanks for the info. Normal banks won't let me open an account because of my credit history. Everything about them seems to suit me, but I will investigate further, thanks,

Grumpelstiltskin

LulaBel127 wrote: »

I appreciate what you are saying, with them taking money to do this for me, but the reason I went to someone like them is precisely because I am so bad with my finances, I need someone else to do it! However, I will look into CCCS, so thanks for the info. Normal banks won't let me open an account because of my credit history. Everything about them seems to suit me, but I will investigate further, thanks,

Lula Anyone can open a basic bank account, OK no overdraught etc, but try Barclays or the Co op but make sure you ask for a basic account, the Co op one is called a Cashminder.

BlushingRose

LulaBel127 wrote: »

I appreciate what you are saying, with them taking money to do this for me, but the reason I went to someone like them is precisely because I am so bad with my finances, I need someone else to do it!

PayPlan and CCCS will do it for you too - you really don't need to pay anyone.
To open a basic account at the co-op you just pop in, they'll even change your direct debits over for you if you want them to.

Depth_Charge

LulaBel127 wrote: »

I appreciate what you are saying, with them taking money to do this for me, but the reason I went to someone like them is precisely because I am so bad with my finances, I need someone else to do it! However, I will look into CCCS, so thanks for the info. Normal banks won't let me open an account because of my credit history. Everything about them seems to suit me, but I will investigate further, thanks,

Hi

OK, self managing is not for everyone.

You have the information to look into etc, so up to you at the end of the day.

Good luck with whatever you decide.

[Deleted User]

You could have ThinkBanking and a charity run DMP?

You will need to have a certain amount of debt and or surplus (available) money to be able to do a DMP whether it's free or charged for!!!

I found GP ok really non-judgemental and honest with the facts but a little slow in paperwork, still I'd say one of the best out of the fee charging companies and according to Payplan's site one of the cheapest of the fee chargers yikes never thought I'd say this, when the charities don't want to know for reasons beyond me

moohound

There is a page on payplans website which shows how much extra you will have to pay to use a fee paying DMP.

Remember they are in business to make money, not to 'help' people.