Too Good to be True?

ILW

Jonnyfeelgood wrote: »

First and foremost I was not associated with or on commission from this company in any way - I can assure you of that. I simply know several of the agents personally who used to work for BBC. I was misled and given the same false hope as you and although I had no debt of my own, I was confident enough with what I knew of this company and it's "successes" that I recommended it to friends and family.
You suggest gaining evidence of the company's successful claims..... Did you before you signed up? And regarding the agents - If you were a new employee of a company and you were shown evidence of their success, would you immediately question their integrity and legitimacy by demanding proof? With hindsight, yes of course but if you wanted to keep your job, you would not!
I think you are blinkered and have not considered that those agents signed up their OWN friends and family - people with children and homes to pay for. If you think they were knowingly conning people, why would they approach anyone they know, let alone family members!

As far as you know, did the ones that signed up their own friends and family keep the commision for themselves? I for one would never want to make a profit from my friends or family.

R0bert_Sterling

iitommoii wrote: »

WA lot of us have got into debt through no fault of our own,

Absolute claptrap!!

Nobody MADE you buy that house, nobody MADE you buy that new car, nobody MADE you make all those commitments, you made all those decisions yourself.
You also failed to protect the risk you took by taking out those commitments.

Typically it is ALWAYS someone else's fault isn't it?? you're the innocent one!!

iitommoii wrote: »

plenty of "innocent" people get into debt through no fault of their own and they should be able to rely on debt services, rather than get conned by them too!

You say Debt Services like it is an above board service. They are simply dangling a carrot at you hoping you are stupid enough to think they will clear ALL your debts so you can happily walk away (to run them all up again!).

This "Debt Service" (as you put it) are laughing at you for giving them all this money (which you should be using to repay your debts), and there are more than a few on here laughing at you for being so daft and getting what you deserve.

For what it is worth, I took out a £7k loan with Northern Rock 34 Months ago.

I agreed to 6.9% apr and signed the agreement. Here's a weird thing, I still have the agreement in a drawer, yes MY COPY!! imagine that!!

I agreed to repay £213.14p every month, for 36 months.

I have just two repayments left, even weirder, I made all the payments, all by Direct Debit, I never really got involved.

So the refute your accusation, I am in debt too, I am one of those idiots who is paying back in the manner I agreed to when I applied.

tinkerbell4791

ILW wrote: »

Sorry but no sympathy, I myself have debt and have had a lot more in the past, I at no time tried to find a way out of repaying it, as I consider that if I borrow money I should do everything I can to pay back the people who lent it to me ( whether it be a friend, family or a bank) These companies just preyed on people looking for an EASY way out, and some have found that this is not always the best option. Take it on the chin, you took a gamble and lost.

Regardless of whether we were right or wrong to try & take the option of writing off our debt, the fact remains that what this company & others like it have done is illegal. They put people into more debt & it's doubtful that they ever have the intention of fulfilling or attempting to fulfill the terms of the service we paid for. They only told me I was due a refund to buy themselves more time & obviously thinking I'd get sick of chasing them & just go away, leaving them with my £1000 in their back pockets. Not going to happen. I'll go all the way with this until they are out of business & cannot set up another company ripping people off.
So, no matter what you think of the people using these debt management companies there is no disputing the fact that the companies themselves are the ones in the wrong here - as shown by the recent case where the company Cartel was closed down.

~Brock~

R0bert_Sterling wrote: »

Do you think I could also reclaim PPI??

I never did actually take it out but so many people are now reclaiming it I feel cheated.
They asked me if I wanted it, I said "NO", they said "are you sure", I said "YES I AM SURE".

This is blatantly irresponsible on their part, they knew all these people would be getting refunds now so they did this just to stop ME from getting a refund.

Surely there is some kind of Compo I am entitled to.

I feel cheated also :whistle:

I wanted to invest some money and my bank advised me to get one of their ISA thingys with a guaranteed rate of 3%

Turns out I could have invested in one of them PPI thingys instead and after a couple of years could have used my right as a consumer to make up a line about how it was mis-sold and got a whopping 8% back on my investment. My bank failed to inform me of the availibility of this at the time and I therefore think I must have been mis-sold the ISA.

Is there a template letter comewhere? I want the extra 5% as compensation, plus 8% of the 5% :money:

Wutang_2

R0bert_Sterling wrote: »

Do you think I could also reclaim PPI??

I never did actually take it out but so many people are now reclaiming it I feel cheated.
They asked me if I wanted it, I said "NO", they said "are you sure", I said "YES I AM SURE".

This is blatantly irresponsible on their part, they knew all these people would be getting refunds now so they did this just to stop ME from getting a refund.

Surely there is some kind of Compo I am entitled to.

I think you need to pop over to the huggy-wuggy-woo forum where thay can make up any letter you wish. There may be a template available from Neverdoubtful-In-Compton. All the best...........

ILW

tinkerbell4791 wrote: »

Regardless of whether we were right or wrong to try & take the option of writing off our debt, the fact remains that what this company & others like it have done is illegal. They put people into more debt & it's doubtful that they ever have the intention of fulfilling or attempting to fulfill the terms of the service we paid for. They only told me I was due a refund to buy themselves more time & obviously thinking I'd get sick of chasing them & just go away, leaving them with my £1000 in their back pockets. Not going to happen. I'll go all the way with this until they are out of business & cannot set up another company ripping people off.
So, no matter what you think of the people using these debt management companies there is no disputing the fact that the companies themselves are the ones in the wrong here - as shown by the recent case where the company Cartel was closed down.

As I said before, it is a grubby little business. The only reason that these companies get away with it is by dangling the carrot of "free money" which people like yourselves jumped at. Greed on both sides in my opinion.

Jonnyfeelgood

ILW wrote: »

As far as you know, did the ones that signed up their own friends and family keep the commision for themselves? I for one would never want to make a profit from my friends or family.

What Mr Righteous, not even if you thought you were doing them a great service?? Removing a huge financial burden legally?? Signing them up because they're aware of what you do and have asked you to??
I keep reading the outrage of people with regard to people wriggling out of debt - We are living in a credit-driven world. Credit starts off small and affordable but can spiral due to circumstances beyond control. As I said before, If you're OFFERED what you think is a LEGAL way out, and you have run out of options, why not take it??
Btw, I do not know about the commission paid for new clients; family or otherwise.

henrysprings

I agree, the banks have worked for years charging huge amounts of money for going into overdrafts etc, so if you can get out of your agreement because the bank hasmade a mistake then go for it

tinkerbell4791

All these people on here being 'thanked' for their 'useful posts'.... Go & preach somewhere else!!
We all know that debt can get out of control but you know what - it's just one of those things. It spirals & can become unmanageable. Of course it's bad money management but it happens - all the time.
Getting the debt frozen & then written off is a legal procedure. If by taking this option it helps people from losing their homes or getting into more financial debt, then why shouldn't they take it?
All you holier-than-thou's on here seem to be missing the point - WHAT THIS DEBT MANAGEMENT COMPANY (BUY BYE CREDIT) & OTHERS LIKE IT ARE DOING IS ILLEGAL!!!!!
Hence the fact that Cartel have been closed down.. hence the fact that Buy Bye Credit are being investigated by the Ministry of Justice & also hence the fact that at least one of the people involved with that particularly company has recently had his licence revoked.
The service they offer is not illegal but the fact that they take money & don't carry out a service is.
End of story!

ILW

tinkerbell4791 wrote: »

All these people on here being 'thanked' for their 'useful posts'.... Go & preach somewhere else!!
We all know that debt can get out of control but you know what - it's just one of those things. It spirals & can become unmanageable. Of course it's bad money management but it happens - all the time.
Getting the debt frozen & then written off is a legal procedure. If by taking this option it helps people from losing their homes or getting into more financial debt, then why shouldn't they take it?
All you holier-than-thou's on here seem to be missing the point - WHAT THIS DEBT MANAGEMENT COMPANY (BUY BYE CREDIT) & OTHERS LIKE IT ARE DOING IS ILLEGAL!!!!!
Hence the fact that Cartel have been closed down.. hence the fact that Buy Bye Credit are being investigated by the Ministry of Justice & also hence the fact that at least one of the people involved with that particularly company has recently had his licence revoked.
The service they offer is not illegal but the fact that they take money & don't carry out a service is.
End of story!

All this money you borrowed and do not think you should pay back. What did you spend it on?