Help me please

loubell

Right a quick update last week i spoke to a financial advisor who told me he could get my payments down from £870 to £300 a month for a fee of £300 if i went ahead,is this normal and can he really do this,haven't been in for my appointment yet? and yes its free well apart from the fee if taken.

anna_1977

personally I wouldn't pay anyone any fee for that, go to one of the Debt charities

loubell

anna_m wrote: »

personally I wouldn't pay anyone any fee for that, go to one of the Debt charities

hi anna,he is not talking about defaulting or debt plans ,just restructuring the debt.....cant see it myself but says his company can get really rates.

dktreesea

loubell wrote: »

hi anna,he is not talking about defaulting or debt plans ,just restructuring the debt.....cant see it myself but says his company can get really rates.

I second Anna. Don't pay someone for anything to do with your debt. What kinds of debts has your partner got? if credit cards, maybe he can get a 0% balance transfer deal which would at least solve some of the interest.

Grumpelstiltskin

loubell wrote: »

hi anna,he is not talking about defaulting or debt plans ,just restructuring the debt.....cant see it myself but says his company can get really rates.

Lou I hate to say this but you might as well set fire to £300.


You won't get a really good rate and also borrowing more will not solve your problem.


You have been asked a number of times to do a SOA and you haven't.


Please please don't throw money away you can't afford, it just won't work.

loubell

They are all credit cards and strangely enough the citizens advice gave me a list with his company on it saying the debt is manageable if structured properly.It is not a trust deed or DMP just an accountant that can show me all available deals.

anna_1977

You can look at all the deals yourself though.
Do a soft search on the credit card page
Try to snowball method

More importantly use that £300 to pay off some of the debt!!

loubell

I get what you are saying but these guys seem to be able to bypass the affordability issues that we always come up against when searching for the best remortgage deals ,0% transfer offers and the like,btw we have no intention of ever using credit again.We just want to have a life again as well as pay off the debt.

sourcrates

loubell wrote: »

Right a quick update last week i spoke to a financial advisor who told me he could get my payments down from £870 to £300 a month for a fee of £300 if i went ahead,is this normal and can he really do this,haven't been in for my appointment yet? and yes its free well apart from the fee if taken.

NO NO NO NO !!

Don't do it, as someone else said, you may as well burn the £300.

Please, please, do not pay anyone to "restructure" your debts, it's a complete con, there's nothing anyone can do for you regarding debt restructuring, that you can't do for yourself for nothing !!!

All they do is negotiate with your creditors to make lower payments, exactly the same as a DMP.

There are no magic solutions, you only have the debt remedys that are laid down In statute, by parliament.

They are :

DMP (informal arrangement)

DRO

IVA

BANKRUPCY

There are no other legal debt remedies (in England/Wales) so please don't do it !!!!!

asparagus1968

if I were you, I would listen to what you are being advised on here.......