Author Topic: Free Debt Advice - Question  (Read 12779 times)

Mandy

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Free Debt Advice - Question
« on: Jun 03, 2008, 12:57:24 PM »
Afternoon.

Is it really free to get advice? also is the advice of a professional nature or just sales patter? how do you know if the people you are speaking to are qualified?

I have been speaking to the below company, they sound convincing, but I would just like to find out if ther is anything I should look out for.

http://www.debtfreedirect.co.uk/debt/debt-advice.htm

Many Thanks
Mandy

Mr Maximus

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Re: Free Debt Advice - Question
« Reply #1 on: Jul 26, 2008, 01:18:53 PM »
Hello Mandy

Nothing is ever free in this world (well you can but it takes a lot of searching) Mandy but I am sure that the people you have stated below are trustworthy.

The way I believe they make their money is depending on what service you choose. If for example you enter an IVA they claim to take what ever you can afford say £150 per month for example and pay it to your creditors however if you read http://www.debtfreedirect.co.uk/faq/iva.htm#q10 at the bottom it states

"Do I have to pay any costs?
In an IVA all you pay is the amount you can realistically afford, each month for the period of your arrangement (usually 60 months), and that is literally all you have to pay as long as you keep up the payments. In return, people you owe money to agree to write off the debt you can’t afford to repay and pay our fee out of the payments you have made to them."

I have made bold the key part to this. I don't know if their fee is a percentage of what you pay or a one of lump that is paid off over time. So this is one way they make their money. If anyone knows differently let us all know please.

One thing I have found is they have a high turn over of staff due to the working conditions. This to me leaves them open to having paper go missing, messages not being passed on etc etc.

With Payplan I was given an advisor to deal with and I think I have gone through erm 6 in 18 months! But I am proactive at chasing them and sorting things out so everything is kind of ok at the moment.

You can if your up to it do all of it yourself but I think that it is just easiest for those who get paid to do the job just do it for you.

Whichever way Mandy the choice is yours. Good luck.

Mr Maximus

giantfly88

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Re: Free Debt Advice - Question
« Reply #2 on: Aug 12, 2008, 02:09:20 PM »
LISTEN HERE AND LISTEN GOOD......... CCCS (FREE) ONLY PAY £1 PER MONTH TO YOUR CREDITORS!!! PAYPLAN (FREE) FUNDED BY THE GUYS YOU OWE MONEY TO!!! NOT IN YOUR INTEREST TO DO!! CAB (FREE) £1 PER MONTH TO CREDITORS.....USELESS!!!

Mr Maximus

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Re: Free Debt Advice - Question
« Reply #3 on: Oct 04, 2008, 12:07:59 PM »
Simon

Almost sounds as if your promoting the site.  ;)

I have my own problem at the moment. Now I have no job and got to find £800 by end of October to pay the rent! If there is a will there is a way.

Maximus

jcd01

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Re: Free Debt Advice - Question
« Reply #4 on: Oct 20, 2008, 04:41:55 PM »
Many companies offer free advice. What you'll struggle to get is free help.

Type debt advice into Google and you get the following - plenty of free debt advice (HTH):

http://www.nationaldebtline.co.uk/
http://www.adviceguide.org.uk/index/life/debt.htm
http://www.thinkmoney.com/debt/
http://www.cccs.co.uk/

Emma

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Re: Free Debt Advice - Question
« Reply #5 on: Dec 09, 2008, 03:59:09 PM »
I have decided to use a debt management company rather than one of the 'conflict of interests' so called free services.  I do need a bit of help though.  A few companies have sent documents to me based on very long winded conversations I have had with them.  Most are asking for a set up fee equal to the first two payments (e. g Chase Saunders) and one even wants the first three payments.  Triangle Finance are only asking for one payment but am I missing something.  If I only get charged one payment now, can I expect to be charged again in the future? I'm guessing not as it described as an informal arrangement.

I have made a mess of my debts and am trying to be carefull so I don't make a hash up of this too.

Any help would be appreciated.  I am hoping to get onto a plan before Christmas so I can have a less stressful Christmas.

Thanks

IVA HELPER

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Re: Free Debt Advice - Question
« Reply #6 on: Jan 10, 2009, 06:35:18 PM »
Free services are generally never free in this matter, they usually pass you on to other companies as a sales lead unfortunatley.
If you enquire about an IVA through a free service you can expect to be hounded the same as if you were applying for a bog standard loan.
Bad Credit

Dr Downs

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Re: Free Debt Advice - Question
« Reply #7 on: Jan 14, 2009, 10:58:23 AM »
Hello
Fill in our survey on Debt and Gambling. This is an academic study funded by the Money Advice Trust and Gamcare that will help advice agencies provide a better service for people dealing with debt whether caused by life factors or gambling. The survey is anonymous.
https://www.surveymonkey.com/s.aspx?sm=0WHpsx0KEbVjePp6_2fSscjw_3d_3d

gordonblair81

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Re: Free Debt Advice - Question
« Reply #8 on: Jan 16, 2009, 12:13:00 PM »
Good Afternoon to all

I currently work for an insolvency company in glasgow helping people out of debts,  Regarding the free of charge charities - yes they will do it free of charge but you will not get the same level of work going into your case as you would if you were paying fee's so its a catch 22

In regards to level of debt if in Scotland over £8K then i would advise on a Trust deed if below then you have a number of options, Debt Management plan, Debt Arrangement scheme (Scotland only) Sequestration.

If England then if below £15K then only real options are Debt Management, Bankruptcy or another Loan if over £15K then i would advise on an IVA.

And yes in Scottish Trust Deeds & IVA's you will pay fees but you will still be paying back considerably less then your total level of debt,  also majority of Debt Management companies will also take a fee from your monthly payment approx 15% of payment or no less than £25 per month.


Hope this helps

Gordon Blair

Chris John

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Re: Free Debt Advice - Question
« Reply #9 on: Jan 21, 2009, 11:51:34 PM »
Those are not the only options.  If you educate yourself on the banking system, how all credit cards and loans are essentially based on a fraud against every one of us, by learning how to press the right buttons, you can help yourself.

wjtrader

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Re: Free Debt Advice - Question
« Reply #10 on: Feb 09, 2009, 08:30:31 PM »
Free advice can be free.

But if your'e a business who makes money from the public using finance its not.  The free advice will be good advice and then the you'll probably be "pitched" by the advisor, so take this in mind.

Hope this helps

chillsop

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Re: Free Debt Advice - Question
« Reply #11 on: Feb 11, 2009, 10:18:01 AM »
Those are not the only options.  If you educate yourself on the banking system, how all credit cards and loans are essentially based on a fraud against every one of us, by learning how to press the right buttons, you can help yourself.


Hi could you tell me were you get the infomation required to help yourself.

Thanks

smallville

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Re: Free Debt Advice - Question
« Reply #12 on: Feb 27, 2009, 02:27:58 PM »
It is true,
there are other methods if you look hard enough.

CarolGabriel

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Re: Free Debt Advice - Question
« Reply #13 on: Mar 05, 2009, 09:53:35 AM »

I have heard bad things about private companies. Some hold on to your money for a while and so you end up with late fees in addition.

CarolGabriel

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Re: Free Debt Advice - Question
« Reply #14 on: Mar 10, 2009, 05:13:45 AM »
Many companies offer free advice. What you'll struggle to get is free help.

Type debt advice into Google and you get the following - plenty of free debt advice (HTH):

http://www.nationaldebtline.co.uk/
http://www.adviceguide.org.uk/index/life/debt.htm
http://www.thinkmoney.com/debt/
http://www.cccs.co.uk/

First of all find th details of all companies and take your own decision.