gregory pennington - no good

Vinny66

I have used G.P. to pay off some outstanding debts for a couple of years, I should have known better. This 'plan' has come to an end now.

You have an 'Annual review', where your monthly living costs are set against your monthly net income and the difference between the two if appropriate is apportioned to your creditors, a proportion of the money available for your creditors is taken as a fee by G.P.

The problem comes when you come to the end of the 'plan', as you only have one 'annual review' per year.

As the outstanding balances which you owe diminish, they make no allowance for this, and still pay each creditor the amount that was agreed at the time of the 'Annual Review' so in my case, With one creditor, i am now £88.09 pence in CREDIT and with my Second creditor I am £53.00 in CREDIT, and with my third and final creditor I owe them £1.29.

I paid this company £59.00 per month to administer these debts for me, quite frankly they do nothing ! I sent my statements from my creditors to them every month as soon as they arrived. It was mostly always a month from me sending the statements for G.P. to update the outstanding balances on line, I sent them my Statement in November, it stated I owed this creditor £189.09, they still paid this creditor £277.00 that month, despite having my statement which clearly displayed what was owed, consequently, this, leaves me £88.09 in credit on that account.
They actually do nothing until you phone them up and query something that you think is wrong, then they may do something.

I would never use them again and neither would I recommend them to anyone.

I didn't realise at the outset,that there are charity Debt Management Organisations out there.

Fatsdom

Just to add, I would avoid Gregory Pennington like the plague. I've no doubt the people who work there are good people, but the service they offer can be obtained for free through the various debt charities referenced above. If you are still struggling with debt, feel free to post an up to date SOA here and we'll happily have a look (I appreciate it was a while ago you posted originally, so hopefully you're all sorted now!)