Is “national debt expert” legit

Options
Cheesephetamine
Cheesephetamine Posts: 247 Forumite
First Anniversary First Post Photogenic
in Debt-free wannabe
Hi! Does anyone know if this company is legit? Thank you 
https://nationaldebtexpert.co.uk/
TOTAL DEBT JUNE 2019: £38,233.87 Aiming debt free mid 2023. All bad debt written off / paid by January 2023. No missed payments in 2023. Only one active credit card to pay off! I DID IT 🎉
«13

Comments

  • Grumpelstiltskin
    Grumpelstiltskin Posts: 4,257 Forumite
    Name Dropper First Post First Anniversary
    Options
    Looks like they are the usual lowlife IVA salespeople.

    Are you still on a DMP?  If so who with?
    If you go down to the woods today you better not go alone.
  • sourcrates
    sourcrates Posts: 28,904 Ambassador
    First Anniversary Name Dropper First Post Photogenic
    Options
    Just another in a long line of debt management companies wanting your hard earned cash.

    Why do you ask, any particular reason ?
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • Cheesephetamine
    Cheesephetamine Posts: 247 Forumite
    First Anniversary First Post Photogenic
    Options
    What do you guys mean by wanting my cash? I was looking at alternatives to my dmp as per change of circumstances and I talked to someone in that “company” that said I could do an IVA for £150 and be debt free in 5 years so I wonder how do they earn money then? I don’t want to be scammed that’s the thing 
    TOTAL DEBT JUNE 2019: £38,233.87 Aiming debt free mid 2023. All bad debt written off / paid by January 2023. No missed payments in 2023. Only one active credit card to pay off! I DID IT 🎉
  • Grumpelstiltskin
    Grumpelstiltskin Posts: 4,257 Forumite
    Name Dropper First Post First Anniversary
    Options
    How do they make their money?

    They take a cut way before any creditors get a payment and you end up paying much more than the total of your debts.

    So how much are your total debts at the moment? To me £150 a month for 5 years suggests your debts are well under £10.000 unless they are telling you porkies.
    If you go down to the woods today you better not go alone.
  • Cheesephetamine
    Cheesephetamine Posts: 247 Forumite
    First Anniversary First Post Photogenic
    Options
    £20K!! He said I would only pay £9k…
    TOTAL DEBT JUNE 2019: £38,233.87 Aiming debt free mid 2023. All bad debt written off / paid by January 2023. No missed payments in 2023. Only one active credit card to pay off! I DID IT 🎉
  • MalMonroe
    MalMonroe Posts: 5,783 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Options
    Cheesephetamine said:
    What do you guys mean by wanting my cash? I was looking at alternatives to my dmp as per change of circumstances and I talked to someone in that “company” that said I could do an IVA for £150 and be debt free in 5 years so I wonder how do they earn money then? I don’t want to be scammed that’s the thing 
    Hi, there are three free, trustworthy debt help companies - links as below -

     https://www.stepchange.org/

    https://www.nationaldebtline.org/

    https://www.citizensadvice.org.uk/

    None of them take any money from you at all.

    I have used Stepchange and they helped me turn my life around when I was in dire financial straits a few years ago. 

    It's a free phone call, free advice and you can take it or leave it, as you wish. They are friendly, helpful and non-judgemental.

    Hope that information is helpful.    :)
    Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.
  • Grumpelstiltskin
    Grumpelstiltskin Posts: 4,257 Forumite
    Name Dropper First Post First Anniversary
    Options
    Have you got that in writing?

    Yes £150 x 5 years does add up to £9000 but I would say don't believe him.

    Are you in touch with the Debt Free Charities? See the links in Sourcrates post.
    If you go down to the woods today you better not go alone.
  • Cheesephetamine
    Cheesephetamine Posts: 247 Forumite
    First Anniversary First Post Photogenic
    Options
    thank you so much everyone. Of course I came here for advice before I commited to anything. I guess it’s true that when something sounds too good to be true it probably is. I will stick to stepchange ❤️
    TOTAL DEBT JUNE 2019: £38,233.87 Aiming debt free mid 2023. All bad debt written off / paid by January 2023. No missed payments in 2023. Only one active credit card to pay off! I DID IT 🎉
  • Grumpelstiltskin
    Grumpelstiltskin Posts: 4,257 Forumite
    Name Dropper First Post First Anniversary
    Options
    Great These people are salesmen, think of them like Double Glazing salesmen.
    Their first thoughts are themselves not you.

    If you would like the good people here to go through your debt plan think about posting all the details and we will see if everything is as it should be.
    If you go down to the woods today you better not go alone.
  • tallyhoh
    tallyhoh Posts: 2,305 Forumite
    First Post First Anniversary
    Options
    A few of these type of companies have gone into administration recently, losing customers the money they paid in
    Tallyhoh! Stopped Smoking October 2000. Saved £29382.50 so far!
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.4K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.8K Spending & Discounts
  • 235.5K Work, Benefits & Business
  • 608.3K Mortgages, Homes & Bills
  • 173.2K Life & Family
  • 248.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards