Debt Advice Trust

moneyse1

Has anyone got any experience of these, please? I know the CCCS, CAB and National Debtline are the usual ones recommended, but this claims to be not for profit. However, I've got a feeling that this is one a friend of mine used and they charged her a huge fee.

Apologies if this has been asked before - I did do a search, but turned up only one thread, where someone said they'd never heard of them.

LilacPixie

never heard of them but i've had a look at their website. the fact they have a 'approved panel' of lenders offering iva's and consolodation loans rings alarm bells for me.

I would personally go with cccs payplan or NDL

moneyse1

LilacPixie wrote: »

never heard of them but i've had a look at their website. the fact they have a 'approved panel' of lenders offering iva's and consolodation loans rings alarm bells for me.

I would personally go with cccs payplan or NDL

Thanks for this. Is Payplan another one is addition to the CCCS, CAB and NDL, or is it part of CCCS?

LilacPixie

its another one. I have heard good things about their DMP's.

One thing i would say is just because somewere claims to be not for profit it doesn't mean that they don't charge. I would guestimate that they are 'not for profit' because they are a sister company of some huge fee paying company. I called such a place before finding this site and was advised IVA was the way to go even tho we were not struggling with our minimum payments just with our spending levels. In reallity an IVA would of compounded our problems not helped solve them.

Call CCCS or NDL. I found this site posted my SOA the kind posters pointed out where our spending was out of control and I called NDL. They helped us alot and now we have paid off over 25% of our debt so far with 50% by december being the aim.

Deep_In_Debt

Payplan is separate but still non charging.

Don't touch fee paying ones with a 100ft bargepole. They are just out to make money. The above all give free advice in your interests.

poorandindenial

My guess is that the 'advice' will be free but will largely consist of recommending various products of other companies that you will have to pay for - eg they will tell you that a DMP is the right thing for you and put you in touch with a company that will charge you £30 a month instead of referring you to CCCS etc who do the same for free. Oh and I also am guessing that the IVA is their preferred 'solution' for most people (because it nets so much cash).

Me, Cynical? - YES

alwaysonthego_2

I work for the cab and we have debt workers who help clients negotiate with creditors and arrange managable payments offersfor free. The only downside is due to lack of funding some CABs will only take clients on that they consider that need urgent help and will suggest the self help route with guidence from general advisers.

moneyse1

Thanks, folks. I've just found out it is the same one I thought, and they nearly nabbed another mate, but hopefully we've caught it in time!