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Anyone heard of Eurodebt?

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elizabee74
elizabee74 Posts: 11 Forumite
in Debt-free wannabe
They rang saying they can clear debts in 12 months and all they do is send a Financial Advisor, who works out a plan and they reduce the interest etc when getting in touch with creditors. Now this sounds far to good to be true, its a free service but there must be a catch. Would it effect my credit rating?:confused:

Comments

  • madauri
    madauri Posts: 636 Forumite
    Free? I can't believe it.
    Won't it be perchance that what they do is buy the debt from your creditors becoming your one creditor (therefore being able to reduce the interest, I can't see how they would convince the others otherwise)?
    'They can tak' oour lives but they cannae tak' oour troousers!'
    The Nac Mac Feegle
  • sarah_skint
    sarah_skint Posts: 1,392 Forumite
    i searched for a while and i haven't heard of them although they probably do exist! I would go for a free one with a good reputation like payplan or cccs and see what they say or maybe try your local CAB - they have helped me alot, sounds tooo good to be true sending someone round!
    Sarah :)
    Good Luck!
    coupon over here, coupon over there, every crack filled with coupons even down there
    (meaning under the buggy lol):D
  • fatbelly
    fatbelly Posts: 22,859 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Cashback Cashier
    Yes, they made an appearance on Watchdog some time ago.

    There's a thread on them herehttp://forums.moneysavingexpert.com/showthread.html?t=109516

    In the meantime, please rearrange this sentence

    Do bargepole touch not a Eurodebt with
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