is Debt contention even a thing?

Hey you know when you apply for credit and get declined or pre-accepted and get bombarded with companies ringing you about debt help? My partner had a call a few months back from a company called compareclaims.org.uk where they have solicitors on board and companies bought my debts wrongly meaning they can get me out of paying them it sounded to good to be true but a part of me wanted to believe it only this company I don’t see much of it on the internet and I’m left wondering if it’s real as they wanted me to pay £150 first month just for their services and 5 years of £138 which is a lot of money to be parting with incase it is a scam so I’m wondering if someone could shed a little light on this situation as I’m thinking I’ve held off for a good reason please don’t judge me I’m fully aware it’s my debt I owe but if companies have tried to cut corners I’m not having that thank you Clare

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  • [Deleted User]
    [Deleted User] Posts: 35,242
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    Dear god, no.
  • Willing2Learn
    Willing2Learn Posts: 6,292
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    edited 16 August 2018 at 4:22PM
    Hi ClareLou88 and welcome to the forum :)

    DO NOT pay a company for debt counselling when you can get it for free.

    Have look at the MSE article: Debt Problems - What to do & where to get help
    There is a list, in that article, of companies that provide a service for free :)
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    :smiley:
  • Thank you, I think I!!!8217;m going to like this forum and so glad I asked as I wondered if I was going crazy for doubting it but the more I thought the more I didn!!!8217;t believe it and this just confirms it
    I!!!8217;m currently in a debt management plan with Payplan, however some debts like Lowell and Moorcroft have been bought wrongly apparently so these were the ones they were trying to get out of for me, I will take a look around thank you again for your help
  • National_Debtline
    National_Debtline Posts: 7,998
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    Hi Clare and welcome to MSE,

    ClareLou88 wrote: »
    Hey you know when you apply for credit and get declined or pre-accepted and get bombarded with companies ringing you about debt help? My partner had a call a few months back from a company called compareclaims.org.uk where they have solicitors on board and companies bought my debts wrongly meaning they can get me out of paying them it sounded to good to be true but a part of me wanted to believe it only this company I don’t see much of it on the internet and I’m left wondering if it’s real as they wanted me to pay £150 first month just for their services and 5 years of £138 which is a lot of money to be parting with incase it is a scam so I’m wondering if someone could shed a little light on this situation as I’m thinking I’ve held off for a good reason please don’t judge me I’m fully aware it’s my debt I owe but if companies have tried to cut corners I’m not having that thank you Clare


    You were right to be cautious. Companies cannot buy your debts off you, that is a scam. You can set up payment plans, through a DMP or an IVA, but they are not buying your debts off you. If you are already in a free DMP, there is no need to change to a fee charger. You can post your SOA and we can see if there are any other options.


    Are you able to clarify what you mean when you say that some of the debts have been bought wrong? (The Lowell and Moorcroft debts) and other posters can try and help you further.


    Laura
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • StokieBecks
    StokieBecks Posts: 4,997
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    The debts haven't been bought wrong at all. The company wanting your money for five years just tell you that to drum up their business. The companies buy them for a lot less than you owe yes but they are legitimately allowed to collect the full amount owing unless they accept a discount as final settlement. Please stick to Payplan where all of your payments are going towards your debt.
    £2 Savers Club for 2022 #12
  • They said to me that a solicitor would work on my behalf and that Moorcroft and Lowell are known to buy wrongly and buy for cheap and charge full amount which I can completely understand but they then went on to say that they usually don!!!8217;t have any proof or any credit agreement for the debts so that they can contend on my behalf and the solicitors would work to get those written off, I!!!8217;m just going to stick with PayPlan as you say at least I will know where my money is going as £130 a month for 5 year is a lot as these companies are a big chunk of my debt so I was sucked into it thinking I could reduce the time in which they!!!8217;d be cleared but I!!!8217;m not trusting it
  • sourcrates
    sourcrates Posts: 28,717
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    edited 16 August 2018 at 11:13PM
    ClareLou88 wrote: »
    They said to me that a solicitor would work on my behalf and that Moorcroft and Lowell are known to buy wrongly and buy for cheap and charge full amount which I can completely understand but they then went on to say that they usually don!!!8217;t have any proof or any credit agreement for the debts so that they can contend on my behalf and the solicitors would work to get those written off, I!!!8217;m just going to stick with PayPlan as you say at least I will know where my money is going as £130 a month for 5 year is a lot as these companies are a big chunk of my debt so I was sucked into it thinking I could reduce the time in which they!!!8217;d be cleared but I!!!8217;m not trusting it

    Please do not fall for these scammers.

    There are no magic solutions to debt.

    The sale of debts may not be very palatable but it is perfectly legal, and is part of the terms and conditions of most regulated credit agreements.

    You can ask for a copy of your credit agreement yourself for a £1 statutory fee, under section 77/79 CCA 1978, it is your right to do so under the above act, you do not need a solicitor, you do not need to pay any further fees such as you describe, their solicitor cannot do anything you cannot do for yourself, sometimes creditors cannot provide the correct paperwork, but mostly they can.

    They are basically asking you to pay an extortionate fee for an essentially free service you have a right too anyway.

    It is a scam, avoid at all costs.
    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
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