Money N More ......AVOID AT ALL COSTS.

[Rainbowinthedark]

Hi all,

 

A relative is being coerced into dealing with this company Money n More who claim to be different to a debt management agency because they have more "legal clout". Apparently "unlawful debt" can be completely vanished away by these people, and them doing that is completely different to writing debt off which other companies do.

 

I have just spent 45 minutes on the phone to someone who talked me around in circles about what this Money and/n More actually do and I'm still none the wiser. They actually mentioned that I might find bad reviews online, which I find interesting to say the least. So I thought I'd come here to ask if anyone has had dealings with these people, to try and figure out if they are legitimate or just another set of vultures looking to make money off desperate people.

 

What raises red flags for me is the fact that these people contacted my relative out of the blue, having been referred by a "public information center". After numerous phone calls, they made an appointment to visit the house and after considering the risks, my relative cancelled the appointment, only to be called back by someone else from this company who managed to convince her to go ahead with the appointment anyway.

 

They sent out a courier and/or representative (the tag changed throughout the conversation today) today at 14:15 rather than the 15:00 appointment time, to get a signature on this documentation apparently at the cost of £70 to the company. My relative was apparently told this would be billed to her if she did not deal with the man on her doorstep, when I spoke to the company myself the issue of this fee was raised, but they were very careful not to threaten me with a bill. I find this all to be bad practice and am very dubious about giving the go ahead to deal with this company, since it all seems very desperate and forceful.

 

Anyone who can offer some advice on whether they are legitimate or just talking out of their backsides and looking to make money would be a huge help.

Thanks all.

[BRIGADIER2JCS]

Stand well back upfront fee for a 'visit' no way. Desperate for a signature says it all!!!

[sequenci]

Avoid.

 

Straight away their actions seem to be in breach of the OFT Debt Management guidelines.

 

You can learn what you need about challenging agreements from us. For free.

[dx100uk]

more legal clout my foot

 

dx

[Wintry]

Hi

 

Just googled the name in.

 

If it is the same company I have viewed, then there appears to be one of those OFT Logo's and the Demsa / DRF badge things (I think)

 

Yes, I think there is enough 'boot' on here:)

 

My opinions

[trymybest]

This company seems to go on the all out attack against it's competitors which is generally a bad sign as those companies that need to attack the competition are usually not as good as what they say they are.

 

The business model seems to be too good to be true and the claims they make are absurd, debt just doesn't get written off it is a debt and it must be re-paid, even on an IVA reduction is dependant on affordability and is a good compromise as opposed to going Bankrupt. If it sounds to good to be true it usually is, a company that operated a similar business model to these guys First Step Finance has just gone Bankrupt owing a fortune to customers type their name into Google and see the press releases.

 

Speak to Step Change who are a free to consumer charity and should be able to help resolve you debt issues. Good Luck!!

[oleg]

On this forum you're largely preaching to the converted. Most ppl here won't go anywhere near a fee-charging d m p . Many don't use fee-free services such as Stepchange either but prefer to go it alone.

Various reasons for this. To give just one, ppl with no income / assets , nor prospects of change, are often better off not paying at all rather than paying £1/month as the charities advocate. Paying means one can never reach statute bar date.

[sequenci]

Paying means one can never reach statute bar date.

 

However it could prevent the possibility of litigation.

[notmeguvhonest]

How likely is litigation though when someone does not have any money? Are debt collection firms going to waste money on litigation when they can just sell on the debt to someone else?

[dx100uk]

there is no logic

 

we've seen debts for £150 go to court

but debts of £25k left?

 

it all depends on the Debt itself and paperwork/reclaiming age person amongst other things

 

best to start your own thread than to fire that question here.

 

dx

[BRIGADIER2JCS]

How likely is litigation though when someone does not have any money? Are debt collection firms going to waste money on litigation when they can just sell on the debt to someone else?

Debt Purchasers / DCAs will consider the viability of litigation in terms of cost and chance of success, some as we see often here will use a solicitor to file a claim as a method of intimidation in the hope the debtor will pay up, but these claims are often withdrawn if a defence is filed.

 

 

They may sell the debt on if they feel it is no longer viable to pursue.