Has anyone got a review of Credit Fix?

Missrcj

Hello

This will be a shorter post than my lengthy life story last time.
After lots of thought and discussion I’ve decided to enter into an IVA. Not ideal seen as I’m 38, single and living in a shared house and it means my hope of saving for a deposit and mortgage won’t be possible for a while
I don’t know what else to do though.
Anyway I went with Credit Fix and I’ve signed an agreement but haven’t given them any payment details yet. I really don’t like the fact I have to pay them so much. I’d rather be paying my debtors more. I’d this the same for any IVA third party?
Any tips or thoughts are much appreciated

Thank you
Rachel

[Deleted User]

Why not use a free one, such as Stepchange?

Missrcj

I just felt like I wa big round in circles and getting confused by everything I was being told. Credit Fix (Money Advisor) were very clear.
Now I know they are just sales people .

Are StepChange free even for an IVA?

Thanks

Helvetica_Van_Buren

Never pay a company to pay off your debts for you for you - you'd just be throwing more money away. Go to StepChange.

tallyhoh

I agree with the above, never pay! a quick google brings up some pretty bad reviews of this company.

[Deleted User]

Missrcj wrote: »

I just felt like I wa big round in circles and getting confused by everything I was being told. Credit Fix (Money Advisor) were very clear.
Now I know they are just sales people .

Are StepChange free even for an IVA?

Thanks

If stepchange consider that the IVA, or another option is appropriate for you the service remains free.

Missrcj

Thank you so much for your help! I’m trying to get out of my contract with Credit Fix now. I’m sure I have 14 days to change my mind don’t i?

National_Debtline

Hi Rachel


There are fees for an IVA, regardless of who you use. That's because an Insolvency Practitioner (IP) is required to set it up. The fees are usually paid through the monthly payment you are making into your IVA. Some of your money goes towards the fees and the rest goes to your creditors. Never use a company who charges you up front fees before your creditors have voted on whether to accept the IVA proposal.


What you need to be sure of is that an IVA is your best option, and you need to speak to one of the free advice agencies to make sure the advice you receive is impartial. I'd really recommend doing that before going any further.


Susie
@natdebtline

sourcrates

Speak to one of the free debt charities before agreeing to this IVA.

All Individual voluntary arrangements attract fees, as said above, it’s a formal insolvency solution that can only be administered by an insolvency practitioner.

National Debtline has a list of recomended companies on its website.

sourcrates

[Deleted User] wrote:

If stepchange consider that the IVA, or another option is appropriate for you the service remains free.

AN IVA can only be administered by an insolvency practionaire, all IVAs attract fees, they are variable dependant on the level of debt.

Bankruptcy also has a fee of £680.

A debt relief order costs £90.00.

Its only informal DMP;s that are free to the end user through the debt charities or self managed.

Geordie1964

Hi,
I was transferred over to Creditfix from Carrington Dene, Who I later found out were a sub division of Creditfix. I have been with them for 15 months and I personally think their customer service is atrocious.
They do not communicate with their client's, when asked for information but still expect you to pay. For the shabby service they supply, I would personally look elsewhere for assistance & under no circumstances should you give them your card detail's. I
asked that they supply me with bank account detail's on the 25th of July & to date have received no response.