FinancialWellnessGroup ?

in Debt-free wannabe
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ferryferry Forumite
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Just curious but has anyone here used the services of the Financial Wellness Group as a means of debt advice that can give any feedback?
Thanks 
:j
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  • sourcratessourcrates Forumite
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    Gregory Pennington in disguise.

    Basically a collaboration between various debt management companies, now trading under the GP banner.

    Advice, as always, is avoid such companies like the plague.
    Ex MSE Board Guide.

    More than a third of IVA`s fail....fact.
    Could A Debt Relief Order help you ?
    Never pay a fee for a Debt Management Plan.
    For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
  • Suseka97Suseka97 Forumite
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    Always read the 'small print' and look for organisations that are non-fee charging.  You should check out the list of free debt advisers showing in sourcrates signature box.
  • warner82warner82 Forumite
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    Hi all

    Can anyone advise best way to terminate contract with this group? I reluctantly signed up as being self employed my options were severely limited.

    I've received a windfall which means I can pay off all my creditors, I'm wondering whether to do this first and then make the call to the FWG, or whether I should inform the group first before paying up.

    I should add that I am unable to find the T&Cs, the document I signed was accessed via a weblink which now just leads to a message saying doc signed by both parties.

    Any advice would be gratefully received.

    Thanks in advance  
  • elsienelsien Forumite
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    Write to them an request a copy of the document/ terms and conditions? Did they not email one out when you signed up? 
    All shall be well, and all shall be well, and all manner of things shall be well.

    Pedant alert - it's could have, not could of.
  • edited 27 November 2022 at 5:13PM
    sourcratessourcrates Forumite
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    edited 27 November 2022 at 5:13PM
    warner82 said:
    Hi all

    Can anyone advise best way to terminate contract with this group? I reluctantly signed up as being self employed my options were severely limited.

    I've received a windfall which means I can pay off all my creditors, I'm wondering whether to do this first and then make the call to the FWG, or whether I should inform the group first before paying up.

    I should add that I am unable to find the T&Cs, the document I signed was accessed via a weblink which now just leads to a message saying doc signed by both parties.

    Any advice would be gratefully received.

    Thanks in advance  
    What, exactly have you signed up to?

    They sell debt management plans, and IVA`s, so which was it?

    If it was a debt management plan, then a 30-day notice period will apply.

    Just terminate in writing, don`t mention the windfall, don`t pay anyone anything just yet. 

    If it was an IVA, then you should just stop paying, IVA`s can take up to a year to terminate, do not mention the windfall, and do not pay anyone, anything, until you have had written conformation your IVA has failed.

    You need to clarify your situation first off.
    Ex MSE Board Guide.

    More than a third of IVA`s fail....fact.
    Could A Debt Relief Order help you ?
    Never pay a fee for a Debt Management Plan.
    For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
  • warner82warner82 Forumite
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    Thanks for the quick replies.

    It is a debt management plan.
  • sourcratessourcrates Forumite
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    warner82 said:
    Thanks for the quick replies.

    It is a debt management plan.
    Then advise is as per above.
    Ex MSE Board Guide.

    More than a third of IVA`s fail....fact.
    Could A Debt Relief Order help you ?
    Never pay a fee for a Debt Management Plan.
    For free non-judgemental debt advice, contact either : Stepchange, National Debtline, or CitizensAdviceBureaux.
  • warner82warner82 Forumite
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    much appreciated

  • warner82warner82 Forumite
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    Hello again

    I formally ended the agreement in writing 12 days ago, the T&Cs state that I have 30 days to request copies of correspondence but I can end agreement at any time... do you think I can go ahead and pay off my creditors?

    Thanks once again, advice on here is fantastic!
  • edited 11 December 2022 at 1:47PM
    fatbellyfatbelly Forumite
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    edited 11 December 2022 at 1:47PM
    Did you know that Gregory Pennington have been given the contract by the Money and Pension Service to be one of two suppliers of Debt Relief Orders (the other is Citizens Advice) from 1 Feb 2023?

    My understanding is that Stepchange will cease doing them.

    Of course Gregory P will not be using this as a means of getting people on to their fee-changing debt management plans, will they? Perish the thought.

    https://www.moneyandpensionsservice.org.uk/2022/11/24/money-and-pensions-service-signs-contracts-for-national-and-business-debt-advice-services-and-the-administration-of-debt-relief-orders-in-england/

    https://debtcamel.co.uk/dro-hubs-how-work/
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