Archive for the ‘debt management companies’ Category
BBC Watchdog Report by Rizi
In April this year the high court ordered high street banks to pay back billions of pounds to millions of consumers after mis-selling them Payment Protection Insurance or PPI.
But if you’re eligible – beware. Claims management companies offering to fight your case could see you losing out for a second time. Riz Lateef investigates.
MINISTRY OF JUSTICE:
A spokesperson for the Claims Management Regulator said:
“We have made it very clear to businesses that we take a zero tolerance approach to any malpractice or attempts to take advantage of consumers. Claims management companies should remain in no doubt that if they breach the rules they will be closed down.
“Consumers do not need to use a claims management firm to make a PPI claim. It can be simpler and cheaper to complain directly to the business that sold PPI to them. There is a range of consumer advice on the MoJ, FSA, FOS and FSCS and DirectGov websites. Consumers who do want to use a claims management company should shop around for the best deal for them and we have warned claims management companies they should not mislead potential clients.”
further infromation at http://www.ppininja.com
Duration : 0:6:48
Clear Your Debts by Baines and Ernst
Baines & Ernst is a part of the Paymex Group are Debt Management Provider of the Year 2010
If your debts are mounting up, it’s easy to get stressed. But call Baines and Ernst and whatever your circumstances, we could talk to you about a wide range of debt solutions to help you clear your unsecured debts.
Baines and Ernst is one of the most experienced company in debt management solutions and Baines and Ernst is established since 1996. We have relations with well over 3500 creditors in United Kingdom and Baines and Ernst are member of DEMSA.
Baines and Ernst offers solutions for every debt problems in United Kingdom, Get in touch with us by calling us on 0808 252 8835 or visit our website http://www.bainesandernst.co.uk/
Duration : 0:0:30
As much info as possible would be good.
I know the basics of it but there is so many horror stories.
I have been speaking to 123 Debt Solutions. Not done anything yet though.
So I know they basically speak to the creditors on ur behalf and take a monthly fee from the amount you pay.
But they also stop interest and charges.
So what you are paying goes to solely paying off debt.
And you can increase amount you pay if you get more income.
The horror stories are for good reason, as there are quite a few companies out there for the sole purpose of taking advantage of people in debt. They prey on individuals holding onto one last hope that a company such as this will be able to help them get out of debt, and they are often very wrong.
I speak from personal experience when I tell you this is often a very bad bath to go down. In my case, a debt consolidation company had me stop paying all of my monthly bills and told me to let everything go into default while they were negotiating. This is how it was done and upon a finalized agreement, all excess interest charges and fees would be removed from my accounts. They also promised lower interest rates, one payment, and a quicker payoff time.
When all was said and done, the only thing I actually received was one payment.
As someone else stated, in most cases, they offer nothing that you cannot do on your own. If you have read any of my other answers, you know I preach contacting the creditors on your own before you do anything else. This is not 20 years ago when creditors had consumers over a barrel. The economy of the world continues to slide and there seems to be no end in sight. That being the case, creditors are much more willing to work out payment arrangements with consumers than they ever have been in the past.
Before you do anything else, contact them and explain the situation. You want to pay, but unfortunately your financial situation only allows for so much. Ask them to lower the interest rate to make your payments more effective. If the first person says no, ask to speak to a supervisor and keep going up the later for as long as you can until you get someone sympathetic to your case. At worst, you are told no all the way through and while you have not gained anything, you have not lost anything either.
If that does not work, there are other options to pursue. You can try a DRO, debt relief order, or an IVA, individual voluntary agreement. I have links below that explain both of these. These are both things you can do on your own or through an agency, and solutions that will probably be more effective than going to a debt management company.
If your credit has not yet been clobbered, you may also want to consider a debt consolidation loan. In essence, this will do the same thing the debt management service promises, but it will actually reduce your debt load and monthly payments. In most cases, a debt consolidation loan will have a much lower rate than your credit card interest rates. By lumping all the payments together in a debt consolidation loan, you will now have only one payment with an interest rate of say 8-10% instead of paying 30% or more on your credit cards.
Because of a lower interest rate, more of each payment will go towards the principal of the debt, effectively paying it off much quicker. Even if your credit is bad, there are companies that still offer debt consolidation loans, but the interest rate might be a bit higher.
As you can see, you have plenty of options before you pay someone to do what you can do on your own. Explore these options and if you have any other questions, please ask. Thanks, and I hope the answer helped!
I am looking to advice a friend on local debt management companies and I came accross 123 debt solutions are they any good for debt management?
Get free impartial advice from any of these organisations:
http://www.nationaldebtline.co.uk/
http://www.cccs.co.uk/
DO NOT contact any debt management companies, they’re parasites only interested in making money out of you.
Another video from our series of educational videos to help you learn more about
handling your finances and being a more well informed consumer. Credit Counselors Corp, is a
credit & debt management company that is dedicated to helping you get out of debt.
Contact www.cccindy.com call 1-800-937-9030 for a consultation.
Duration : 0:2:8
http://getoutofdebt.org/22230/ – The presentation by Lynne Weaver from the North Carolina Attorney General’s office discussing debt management, debt relief, and how to deal with state regulators.
Lynne Weaver from the North Carolina Attorney General office joined us to discuss why debt relief companies appear on the radar of regulators, how to best deal with regulators, how to work with regulators, what companies most often do wrong that causes them to become targets of regulators and a whole lot more.
The presentation talks about how multiple states coordinate enforcement and how states work together to share information.
The attorney model is discussed and concerns that it presented and why it is on the attention of regulators. We also discuss why the advertising and public claims that seem unrealistic made create a red flag for regulators.
Duration : 0:46:43
Ortus The Business Development Agency http://www.ortus.org/ in Belfast, Northern Ireland, was established in 1988 to actively promote sustainable social, economic and environmental regeneration by providing property and business development support.
Since its inception as a commercial social enterprise, it has been delivering quality business training and development programmes and providing high quality commercial units for rent.
As Northern Ireland’s largest Local Enterprise Agency (LEA), it offers over 180,000 sq ft of commercial property for rent. This property is based over two sites at Twin Spires Business Complex and Westlink Enterprise Park and can offer retail, office, warehouse, manufacturing and storage facilities at very competitive prices.
We offer an additional 300,000 sq feet of commercial property at a number of different locations within Belfast and Lisburn.
Ortus is dynamic and innovative and has been delivering results-driven business development programmes to SME’s since 1990. These programmes range from exploring the potential of a business idea to export marketing. These programmes have attained national recognition and have won awards such as the National Training Awards.
Ortus now offers the opportunity for company formations through its new company companyregistry.eu and opportunities to secure investments though its Enterprise Investment Scheme programme.
Ortus has been recognised as a quality company and currently holds the prestigious ISO 9001 and ISO 14001 quality marks.
Duration : 0:3:32
Debt advice is what we at HELP can provide based on our vast experience in the debt management field. HELP has 20 + years of experience in providing debt management advice, helping to formulate strategies, planning and working on various tools for dealing with excess debt and repayment demands that may be too much for you.
Roger Wallis, MD of Home Equity Legal Protection (H.E.L.P.) gives his advice on Debt Management.
For more information on debt management, visit the HELP website: http://www.home-equity-protection.co.uk/debt-management/
Duration : 0:2:53
Module 1. This module is the introduction to the www.debtcompare.co.uk debt help & debt solutions audio guide.
Duration : 0:3:10
Kingston Debts Solutions provide a different alternative to the current clutch of debt management Companies offering debt advice. Having had the misfortune of having to deal with these companies themselves, owners Mark & Leo decided to create Kingston Debt Solutions to ensure there was a better alternative. They wanted to provide a service for people who had found themselves at the wrong end of a collection letter, or had received a threatening telephone call, or were even afraid to answer the door for fear of who might be there.
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Kingston Debt Solutions set itself apart from other debt advisory or debt management companies by removing the the negative aspects of those companies:
No call centres.—– We do not operate a call centre, and instead operate with a team of dedicated Personal Debt Advisors. These Personal Debt Advisors are assigned to each person upon their first contact with Kingston Debt
Solutions — they are not passed on to a colleague, and your situation does not need to be explained over and over again.
Maintain our promises. —– We know how frustrating it is to hear how something is going to be said or done for you, to find out, long after you agreed it, that it was never done. If we say we are going to do something, you can be confident that we will do it. We also won’t tell you we will do something if we can’t, or that something will happen if it may not.
Help for free. —– Whilst some of our services are chargeable, a fact we do not try to hideaway in small print in some obscure part of this website, we can and frequently do offer advice to people for free. Be it in the shape of some friendly advice over the telephone, or if someone drops into our office. We even offer a self help pack which we send out free of charge for people to try and help themselves.
No pressure. —– None of our Personal Debt Advisor have any targets to achieve, except to offer help. If we cannot help, we will say so, although we nearly always can. They will try to remove the burden of your debts from you, allow you to get on with the more enjoyable parts of your life!
Duration : 0:1:28