First step Finance - **BANNED DIRECTORS STOLE +£6M**

[diamondgirl]

My friend did get quite a sum written off and still has a couple to go. My friend was happy with the service received. I can't pass any personal judgement on them as I'm not on one of their plans I can only tell you what my friend said.

Noticed hell-yeah post saying they are not regulated, they are, on the website there is a consumer number and a ministry of justice number so they could be inspected at any time.

I got their website up at [MOD EDIT - NO COMMERCIAL LINKS PLEASE!]

Anyone who has any debt and is not paying a creditor will have a lousy credit rating

DG

[hell-yeah72]

To D/G I'm glad your friend was able to get job satisfaction out of FSF, but he/she is in the minority and that is not where I want to be! Sorry you leave me UNCONVINCED!!

Now to Daniella- I'm afraid I probably won't get a penny back and will have to put it down to a REALLY bad experience!!!However I will fight for whatever I can get no matter how small.

My next appointment is on friday 9th, if I can get all the most recent paperwork to see how much I now owe!(thank-you FSF)Will be asking for all the stuff that I was told to send to FSF back as it is my property under the data protection act.

Have been asked to fill out a financial breakdown form and I HATE doing them with a passion:mad:(thank-you again FSF), but it has to be done.

I feel angry that I was taken for an eedit/plonker but I will canel that negative energy towards FSF(man they don't know what is about to hit them when I get my teeth sunk in!!!!)

Anyhow will sign off for tonite,and will keep in contact.

[gosman]

We registered with first step in Feburay of 2009. We are now in a worse state than we have ever been. We have defualts, which we did not have before, we have a CCJ on a debt that had been paid off. When you ring to discuss your unhappiness the staff are rude, aggressive and threatening; they never get back to you hen they promise. That is unless you do not pay their fee when they ring three times plus a day using different numbers. Do not make the same mistake as us, DO NOT USE THEM I am going to the OFT to try to recover some money.

[hell-yeah72]

Welcome friend, a new-be to this site (unfortunately), just like me.Have found other peoples experiences helpful and I don't feel so alone in dealing with FSF!!!!

 

My credit rating was already very poor before I went to FSF and I now know it is worse.

 

Reading through other experiences makes me feel somewhat fortunate that they didn't get too much money out of me but I feel cheated none the less!!! Have just sent an email to my casworker(ha ha) to say that no more money is coming their way so I await her reply, and will keep you all posted.

Feel better that I now have stopped this niggly feeling that I had in my head ever since I said yes, telling me that FSF is dodgy-AND THEY ARE-NO DEBATE NEEDED!!!!

[Desperate Daniella]

Hi gosman and welcome to CAG. I'm sorry you have had a bad time with FSF too.

 

I found this thread by a reference on another one by PCB and I'm totally appalled by what I have been reading here. PCB won't be back on the thread until they are back at work tomorrow, but I think it's clear that apart from DG's friend most people have not had a good experience with FSF.

 

You can get help on CAG. You need to start new threads for each card/bank and join other threads too so you can compare notes, application forms, default notices, and so on. Just do a search on each company, read the threads and see which are most relevant to you.

 

Honestly my head was spinning when I first joined CAG and I never thought I'd understand anything, but there are people who will help you, and every day you'll learn something new and things will become clearer.

 

Post your new thread titles here and I'll have a look, and also read other threads and ask for help there by posting the links and asking others to help.

 

I hope we'll do a better job of helping you that FSF, and it's all free.

 

DDxx

[sequenci]

 

CCCS are funded by the card companies and won't tell you about challenging your agreements, which I personally think is wrong because it means we have to do our own research to find somewhere like CAG.

 

This statement seems to imply that CCCS works on behalf of the credit industry which isn't the case. They are a charity although I appreciate that don't advise individuals on the possibilities that their agreements may have issues that could be investigated. Most debtors are happy to simply repay their debts by entering into an affordable arrangement, in the grand scheme of things there are only very few people actively looking to challenge the credit agreements - and this is going to reduce as time goes by. For the record I'm not the biggest fan of CCCS but they are one of the better firms out there. I've NEVER heard of 'Debt Action' and I work within the not-for-profits debt industry.

[Poor-Credit Borrower]

This statement seems to imply that CCCS works on behalf of the credit industry which isn't the case. They are a charity although I appreciate that don't advise individuals on the possibilities that their agreements may have issues that could be investigated. Most debtors are happy to simply repay their debts by entering into an affordable arrangement, in the grand scheme of things there are only very few people actively looking to challenge the credit agreements - and this is going to reduce as time goes by. For the record I'm not the biggest fan of CCCS but they are one of the better firms out there. I've NEVER heard of 'Debt Action' and I work within the not-for-profits debt industry.

 

I think I have had an email circular from 'Debt Action' too, but have ignored it. Do you think CCCS are better than Payplan, sequenci, or do you think they are both pretty much of a muchness? You sound as though you don't really approve of challenging the agreements, but maybe I misunderstand you. But whether I pay an affordable amount to each or do challenge some agreements, perhaps it might be better to do so myself (with the help of this very helpful forum).

[Desperate Daniella]

That's not what I meant to imply. They are a charity but I understood they were for the most part funded by the banks and credit card companies.

 

Personally, I am very grateful to CCCS who gave me wonderful advice about DCAs when I was being very bullied, and was absolutely terrified.

 

I'm challenging my agreements because I think that by doing so I will be in a stronger position to negotiate. I wouldn't owe anything like as much if the card companies hadn't kept putting up the interest rates.

 

If I'd followed CCCS advice I don't think I'd ever have paid things off before I died and I'd rather settle things before that. If the interest rates had stayed the same I'd probably have paid off most of the debt by now anyway.

 

We do know that if the card companies have unenforceable agreements they often offer vastly reduced settlement figures and that is what I personally am hoping for.

 

If you have a debt which could be paid off by x amount over x years and it would all be done and dusted I'd certainly follow CCCS advice, but that's not always possible.

 

DD

[Poor-Credit Borrower]

Hi PCB,

 

It's a pretty miserable Good Friday anyway, so it's hardly as if we are missing any sunshine by being online, although I'm running around all over the place with just occasional visits here.

 

As far as Blackhorse is concerned, you shouldn't be paying 8% more than the actual debt because FSF are handling it.

 

If you sign up to some more threads, which you will over time, you will see that you do not want to be taking the card companies to court to force them to say they have an unenforceable agreement. You want to be the Defendant in any case - not the Claimant. That way it's up to them to prove they have an agreement and for you to challenge what they send, argue about the Default Notice if relevant, and so on.

 

I haven't got any Halifax accounts so you'll need to search Halifax and join some of their threads and see what is said about the agreements/application forms for the same time frame as yours.

 

If your Capital One card was taken out in 2004, and probably as far as April 2005, it won't be enforceable anyway, so you should not be paying FSF anything at all for that one. Join Sunflower's Capital One thread if you are not on it already.

 

As FSF are admitting negotiations are protracted, which they are, this could drag on for years with you paying FSF every month.

 

I honestly don't know what you should do about the money you have already paid them. Is there anything in the agreement about your choosing to not continue working for them, and if so how much of your money they must give back to you or pay directly to a creditor?

 

Also, if they actually did take a company to court, which I doubt they will, what do they guarantee in terms of a barrister to represent you? Would they be taking just your case to court, or would you be part of a job lot?

 

You need to check your agreement with them carefully before you decide what to do next.

 

Happy Easter to you too.

 

DDxx

 

DD, thanks again for a most helpful post. Sorry I haven't replied earlier in the day today.

I suppose I should write to FSF, using one of their pre-paid envelopes, asking for clarification of that 8%.

 

My Capital One card was taken out on 18/05/2004, so it may be unenforceable, but would that apply if I had been making regular payments to them before FSF and hence 'acknowledging' the debt?

 

Yes, I should join the Capital One, Halifax and other threads too. I'm also intending to join an 'Abbey' thread about bank charges.

 

I haven't seen the original contract with FSF for a while, perhaps I should find it or even ask them to send me a copy.

 

There is a possible complication about getting any of the money back, but I was wondering if I could PM (private message) you, not regularly of course but just as a one-off? I know that the site team don't like being PM'd but you may not mind?

 

I have not had anything back in writing from them (or not yet), about extra charges for phone calls.

 

PCBx

Edited April 6, 2010 by Poor-Credit Borrower
PM'd instead of PM's

[Desperate Daniella]

There's something called Action for Debt which says on its website it's licensed by the OFT which makes it sound official, but obviously it's not an official OFT site.

[Desperate Daniella]

Hi PCB,

 

You can pm me, but wait until later as I need to clear the box!!

 

You can challenge an agreement at any time, but if you want to get it statute barred eventually you mustn't acknowledge it at any time for six years.

 

To start with, if you decide this is what you want to do, write to Capital One enclosing a £1 postal order asking for a copy of your alleged credit agreement with them. Don't sign the letter - just print your name.

 

Big warning here: they will set the DCAs on you as soon as you stop paying and start challenging the agreement, and this will go on for many months regardless of what you tell them in writing. This not for the faint-hearted. However, if you have no choice and Capital One won't accept a reasonable offer of repayment, then you will just have to ignore all their calls, and keep hanging up on them. It does go quiet eventually as almost everyone on Sunflower's thread will confirm. You'll feel better when you read that thread.

 

In the meantime, do try and find the original agreement with FSF.

 

DDxx

[Poor-Credit Borrower]

Hi again DD,

 

Thanks for that, maybe from tomorrow then? Or just let me know when it's cleared!

 

Not sure whether I should start writing to Capital One, or any other of my creditors, until I have finally extricated myself from FSF? As I've said before it would be a while before I can get it statute barred as I had been paying them via a debt management company at least until March 09.

 

Ta for the advice about not signing the letter to them.

 

cheers, PCB

[sequenci]

That's not what I meant to imply. They are a charity but I understood they were for the most part funded by the banks and credit card companies.

 

Personally, I am very grateful to CCCS who gave me wonderful advice about DCAs when I was being very bullied, and was absolutely terrified.

 

I'm challenging my agreements because I think that by doing so I will be in a stronger position to negotiate. I wouldn't owe anything like as much if the card companies hadn't kept putting up the interest rates.

 

If I'd followed CCCS advice I don't think I'd ever have paid things off before I died and I'd rather settle things before that. If the interest rates had stayed the same I'd probably have paid off most of the debt by now anyway.

 

We do know that if the card companies have unenforceable agreements they often offer vastly reduced settlement figures and that is what I personally am hoping for.

 

If you have a debt which could be paid off by x amount over x years and it would all be done and dusted I'd certainly follow CCCS advice, but that's not always possible.

 

DD

 

I think your circumstances echo those of thousands of others. The irony is that if a creditor or dca was to accept a reasonable offer and stop chasing they would probably hvae got more money in the long run. Most people seek further advice via places such as CAG etc because there is no let up. You make a great point, people SHOULD be more savvy and investigate their agreements etc. I appreciate that the likes of payplay/cccs do not suggest this as a matter of course. I would only raise it with my own clients (in the day job) if it is likely that there is a potential issue. Apologies if my post was a touch ranty - a lot of the fee-charging DMP firms try and imply that the free & charitable DMP firms such as CCCS work for the creditors and not the clients!

[sequenci]

There's something called Action for Debt which says on its website it's licensed by the OFT which makes it sound official, but obviously it's not an official OFT site.

 

I just had a little look online. The fact that the main contact number seems to be a mobile puts me off!

[Poor-Credit Borrower]

Hi,

 

I got a phone call at 8.42pm last night from another company purporting to do debt elimination - they are called Capital Finance - and they tried to ask details of all my debts, I said after a few minutes that i didn't have time to speak to them right now. When I looked them up today, they seem to be part of City Credit Management (based in Leicester) who are apparently under liquidation. Has anyone heard of them? When I did a 1471, their number had been "withheld".

 

Think I'll steer well clear of them anyway.

Edited April 7, 2010 by Poor-Credit Borrower
added an extra sentence

[hell-yeah72]

I think there is some confusion over the charity that I am now getting help from-Debt Action Advice NI It has been set up from Janurary 2010 by the N.I government to help debt ridden people, they don't charge for their advice or help. I'm sure there is a something similar for the rest of the UK.

 

 

Nothing new to report only that the email that I sent to my caseworker has to be put in writing as they need my signature, wonderful!!

 

Bye for now.

[sequenci]

I think there is some confusion over the charity that I am now getting help from-Debt Action Advice NI It has been set up from Janurary 2010 by the N.I government to help debt ridden people, they don't charge for their advice or help. I'm sure there is a something similar for the rest of the UK.

 

 

Nothing new to report only that the email that I sent to my caseworker has to be put in writing as they need my signature, wonderful!!

 

Bye for now.

 

Oh great, I know them! In fact we work with them very closely

[Poor-Credit Borrower]

DD wrote:

> You can pm me, but wait until later as I need to clear the box!!

 

Afraid I have already attempted to send a PM to you, but got a message saying your box is full! I'll just save the email somewhere on my PC when I log off today, for a later date.

 

PCBx

[Poor-Credit Borrower]

Daniella,

Afraid I have made a second attempt to pm you, but your mailbox was full. So I have just saved the message in my e-mail in box, by sending an email to myself! just in case I can send it at a later date.

PCBx

[international54]

Continuing on from my last post i mentioned that i had cancelled my debt plan with First Step Finance.

I have now recieved a costing- WAIT FOR IT

I paid into the plan over 6 months £975. 00

Their total running costs equal £916.00 . As such the balance in my account is £49.00 .Which they have sent me ( a cheque) which i wont cash !

The break down briefly is -

Admin- @ £50.00 per hour

Legal @ £75.00 per hour

Phone calls inbound and outbound @ £15.00 each

Maintenance calls @ £50.00 each

File check @ £25.00 each

Letters @ £6.00 each

Bespoke letter @ £12.00 each

Courier fee@ £75.00

Payment to creditors £10.00

None of this was in the contract i signed.

I am seeking legal advice plus my husband wants to contact one of the major newspapers to warn others over this rip off !

I'm now deeper in debt and dont know who to turn to.

[hell-yeah72]

Well well well,this makes interesting reading to say the least as you are afew steps ahead of me-I now know what I can look forward to(NOT VERY MUCH!!)

 

Interested to know how your legal side/newspaper side is progressing.Don't know whether I'll do anything as I'm just so glad to be rid off them, but on the other hand the thought of other people losing money just as easily as I have chills me to the bone!!!!

 

Will keep you posted as to how I get on:)

[sequenci]

Have any of you folks reported these guys to the OFT?

[Poor-Credit Borrower]

I am very grateful for recent posts on this, especially the one from International54 who has been brave enough to cancel her 'contract' with FSF. None of these charges were indeed in the contract signed, which is a good reason for reporting these guys to the OFT as sequenci has suggested. However, I think a better idea is to report them to the Ministry of Justice as they are the current regulators of this organisation (at the moment the status of FSF in their current website is "approved" but that could soon change!!)

 

I have an appointment with my local Citizens' Advice Bureau on wednesday week and they could advise me. I know that they are probably not as knowledgeable, in this field, as the site team on the CAG (!), and even some of the other posters, but I'm seeking advice on my total financial situation including mortgage too. I'll also be able to give them what my individual month-to-month budget is... I'll ask, amongst other things, whether to go to the CCCS or try to contact the creditors myself regarding the unsecured debts.

 

Please continue to keep me/others posted with your own experiences on this thread!

Edited April 12, 2010 by Poor-Credit Borrower
spelling mistake

[Poor-Credit Borrower]

I meant to say that the only charges that *were* in the contract as far as I can remember are that FSF will be charging 8% of any debt paid to the creditors and 25% of any debt that is "written off".

[sequenci]

However, I think a better idea is to report them to the Ministry of Justice as they are the current regulators of this organisation (at the moment the status of FSF in their current website is "approved" but that could soon change!!)

 

Do BOTH.

 

FSF HAVE to have a consumer credit license, so it's always worth making as much noise as possible.

 

 

I have an appointment with my local Citizens' Advice Bureau on wednesday week and they could advise me. I know that they are probably not as knowledgeable, in this field, as the site team on the CAG (!), and even some of the other posters, but I'm seeking advice on my total financial situation including mortgage too. I'll also be able to give them what my individual month-to-month budget is... I'll ask, amongst other things, whether to go to the CCCS or try to contact the creditors myself regarding the unsecured debts.

 

 

Great to hear, is it a 'money adviser' that you're seeing? Let us know how you get on. For the record I work within the charitable debt advice industry and work in close proximity to both the CAB and CCCS (amongst others!). Kep us posted