Has anyone used 'Resolve Money Matters'?

tealady

Ellieseleven, I second that

matttye

It doesn't seem to let you thank posts over a certain age - but yes, great post by Firewyrm.

sourcrates

Threads a year old guys that's why.

tealady

Doh! (slaps face)

Ellieseleven

sourcrates wrote: »

Threads a year old guys that's why.

Ha! I didn't notice the date:o I realise now the thread was updated recently so it popped up on the first page...still a great post by Firewyrm though.

Ellie x

FireWyrm

Thanks for the vote of support.

These companies annoy the hell out of me and these stories are so depressingly common. It is almost analagous to watching some little old lady getting mugged in the street and being able to do little about it. I really believe these companies ought to be shut down and it surprises the hell out of me that the FOS decided to land all over reasonably legitimate companies like PDLs rather than these 'debt management companies' who are, in my opinion, far more nefarious. DMCs are almost always LIMITED companies which means that the consumer has little to no rights when they fold, which they do, quite commonly. They are scams and never in the interests of the consumer.

noelw1969

Resolve was recommended to me by Stepchange and having spoken to them, I decided to go into an agreement for debt management.

I paid £80 a month and there were 2 steps to the process, debt reduction and debt repayment. Whilst under the initial debt reduction (ie, looking for PPI, unfair charges etc...) I was paying them 90% of the payment. Once onto the debt repayment, that would reduce to 15% or thereabouts.

After 22 months they announced that they were shutting down the debt management side of the business and that my account had been passed to an alternative without my approval or consent. It took me 7 weeks and a number of calls to get detailed information regarding the state of each of my creditors accounts, indeed getting several varying sets of figures along the way.

When I finally got the info I was after, I read that in nearly 2 years they have managed debt reduction of just £9.48 in the form of PPI and token debt repayment of £80.93. My fees for this currently stand at £1008 !!

There was a surplus of £666 which I demanded back immediately and was told it would be made in 28 days and that I would be informed of the date when that payment would be made. That date took another month to come through during which time I was told that it was 28 days plus 2 Bank Holidays and then 28 working days plus Bank Holidays.

I made an official complaint with regard to the £1008 fees they had charged for doing practically nothing and leaving me with an incomplete service and in virtually same position as I was in 2 years ago. This complaint was quickly closed with no intention of refunding any of those fees.

Basically, the service I have had is an improvement of my financial situation by no more than £90.41 for a charge of £1008. Needless to say, the Ombudsman is now on the case and seem to have taken an immediate interest. I can only hope that I am able to recover some, if not all of these ludicrous charges. Despite my recognition of the 90% charge, it is my belief that the T&C's do not cover keeping all fees in the case of the business shutting down let alone for doing considerably less than a complete job.

AVOID THESE PEOPLE LIKE THE PLAGUE.

P.S. If there is anyone who might be able to offer titbits by way of constructive help and advice, they would be most welcome. I want my money back but simply cannot afford to employ legal services.

lindaxirles

Hi,


I know this is an old post but I was called on my mobile 4 times today by this "company" though they were asking to speak to my son by name! When I finally got fed up and called them back to insist they take my number off their call list, I asked how they got my number (I am lucky enough to have NO debt), no satisfactory reply given. I asked who they were and what address they were based at and who their boss is. All information given but advisor was quite aggressive and "cocky".


Searched on internet, they have been allegedly stopped from taking new business??
Debtcamel website has article about them and FCA investigation this summer.

I called my son and he had never heard of the company(s) or asked for debt management and in any case they were calling MY mobile not his.


Just an alert to all that they are indeed still in business and trying to "scam" the unwary or those in need of financial management help

theoretica

I know this is an old thread, but if you register your number with the telephone preference service cold callers aren't supposed to call you, and in my experience fewer do.