Bains & Ernst

Sally-Ann6

I have been with B&E 2 years now, the reason being a little over 2 years ago, my hours at work were reduced from 27 to 9 hours per week, I have a mortgage and a young daughter to support. I ended up receiving income support and it was during that time I used my credit card to buy food etc, so of course I got into debt. After about 5 months I was offered more hours at my place of work, even with that I was still struggling with the high interest rates on my visa card and a few store cards. I contacted B&E, I didn't want to bury my head in the sand and I am on a money management plan with them. All creditors being paid each month, interest frozen etc. A few days ago I decided to see if I could change my Mortgage and go with another company. After giving all my details I was told they would not be able to help me because the credit check they did, showed I was in errears, she explained that it showed that at least 2 of the creditors, 1 had not received payment in 6 months, the other 4 months. Now I am wondering why is it showing up like this. I have a statement each month from B&E showing all the payments being made, as I have said I have been with them 2 years, so why on earth, would there be showing on the credit seach 2 companies have not received payment ( 6 months and 4 months):mad:
This can't be normal. I did call B&E and they said all creditors are being paid. I am in the process of getting my credit report to enable me to check this.
Has anyone, who has or is dealing with B&E had this happen to them?

MKDon

Sally Ann, I can't help you, but I'm sure that some one who can will come along soon.

Hopefully This will give your thread a bit of a bump up.

Good luck

Zebedee69

Hi Sally!

The problem is either.

- Credit Reports are sometimes very slow to update - or -
- The companies list the debts as unpaid until you pay the debt off. This could be seen as a protection against you obtaining more credit and getting yourself deeper into debt.....

Other than that I dont know.....

CLAPTON

I may have misunderstood your post but the position is broadly this

You and the lender agree freely to enter a contract, they agree to lend you money and you agree to repay according to a written contract.

Later you find you can't afford to keep to the contract.

They, under duress accept lower payments and sometimes agree to freeze interest and charges.

They can default your account and can mark your credit record accordingly.
As you haven't kept to the written contract they can continue to mark your credit record each month with only partial payments... i.e. you are in arrears according to your contract.
Different creditors seem to have different policies on marking your credit files.

Obviously any potential new creditor will see that you can't afford to pay your current debts in line with the contract you freely signed and will be reluctant to deal with you except at a high interest rate.

Sadly although from your perspective you are keeping to the DMP 'agreement' this is not the agreement you originally signed.

I can't really comment on the precise details of your credit file until you get a copy and you see precisely what it says.

Sally-Ann6

Hi there and thanks for your replies.
the reason I asked such a question is, when I was at the Building Society and then we told about my credit rating and explained my situation, the lady who was dealing with moving my Mortgage did say that there have been a number of complaints whereby B&E failed to pay some creditors, knowingly, the ones that usually never end up taking people to court re failed payments, therefor dropping payments to them. So, of course when I heard that 2 companies had not received payment in quite a while, I did actually wonder if that perhaps this is what happend.
I'll know more of course when I receive my credit report.
Thanks again

Conor_3

GET RID OF B&E NOW

I cannot state how important it is that you ditch these money grabbing 1*%$*$%£$£'s.

I made the stupid mistake of going with them before I saw sense. I was paying them about £130 a month and after their "adminstration fees", around £30 was being paid to the creditors.

Not only that but not all creditors would deal with them or freeze the interest. Your credit still gets stuffed as every single month, every creditor will be adding yet another default on your credit file. You still get the letters and phone calls from the creditors.

Once I'd figured out I'd be paying these charletons for the next 50 years (I owed £20,000 - it doesn't take a genius to work out how long that'd take to pay off at £30 a month) with them getting 75% of what I was paying every month as an "admin fee" I sought advice with the Bankruptcy Advisory Service. Immediately, I was advised to declare bankrupt and was told a few home truths about B&E.

B&E have only one aim - to keep you in debt as long as possible. It is not in their interests for you to pay off your debts because as long as you're in debt and using them, they're creaming off £1000's a year in "management fees".

Tell them you're leaving them and contact the CCCS to get a proper payment plan set up where 100% of what you send to CCCS gets sent to the creditors, not 30% or less.

MKDon

Sally Anne, Conor may well be right, no need to panic, have a read of this short thread, it's only 3 posts long and looks like good news for you.

http://forums.moneysavingexpert.com/showthread.html?t=390705&highlight=Bains+%26amp%3B+Ernst

From what I have read talking to CCCS or another free one on Monday morning should help set your mind at ease.

Good luck

Sally-Ann6

Conor wrote: »

GET RID OF B&E NOW

I cannot state how important it is that you ditch these money grabbing 1*%$*$%£$£'s.

I made the stupid mistake of going with them before I saw sense. I was paying them about £130 a month and after their "adminstration fees", around £30 was being paid to the creditors.

Not only that but not all creditors would deal with them or freeze the interest. Your credit still gets stuffed as every single month, every creditor will be adding yet another default on your credit file. You still get the letters and phone calls from the creditors.

Once I'd figured out I'd be paying these charletons for the next 50 years (I owed £20,000 - it doesn't take a genius to work out how long that'd take to pay off at £30 a month) with them getting 75% of what I was paying every month as an "admin fee" I sought advice with the Bankruptcy Advisory Service. Immediately, I was advised to declare bankrupt and was told a few home truths about B&E.

B&E have only one aim - to keep you in debt as long as possible. It is not in their interests for you to pay off your debts because as long as you're in debt and using them, they're creaming off £1000's a year in "management fees".

Tell them you're leaving them and contact the CCCS to get a proper payment plan set up where 100% of what you send to CCCS gets sent to the creditors, not 30% or less.

Thanks for the info. I pay them £120 per month, 20 of which is taken by them, the remainer being paid to creditors.
Can you please tell me where I can contact the cccs, I'm not sure I have heard of them?
Thanks

debtman2007

https://www.cccs.co.uk

MKDon

Sally Anne, At the top of the thread is a link to Martin's Step by Step guide to debt problems or follow this link

http://www.moneysavingexpert.com/loans/debt-help-plan

It contains the freephone number for CCCS & a link to the website, plus his view on where not to go. +Lots of other good advice. Well worth a read!!

Let us know how it goes.

Conor_3

£20 a month? Looks like they've learned a few lessons but it's still £20 a month too much and using the CCCS or similar would reduce the time you're repaying by nearly a fifth if you maintain £120 a month.