Debt Management Firms selling unsuitable plans, says FCA

[thebaneofbanks]

but payplan, stepchange etc do the same for no fee.

 

so blows the need for a fee out the water.

 

the thing NO DMC, paid or otherwise does is...

 

 

cHECKS THE LEGALITY of your debts..

 

they all just BLINDLY pay anyone that sends a threat-o-gram.

 

dx

 

Actually in fairness to First Step Finance (and I am not a fan of theirs) that is one thing that they did claim to do check the legality of the debts.

 

Also as for the likes of Step Cahnge while they claim to offer a free service they do get a payment from the creditors.

[Conniff]

Is that who you used, First Step ? Nice company:

 

 

Press releases

 

First Step Finance not fit to hold licence

 

The OFT has decided to revoke the credit licence of First Step Finance Limited (FSF), a large debt resolution company based in Stockport.

The OFT has reached this decision because, among other matters, the company:

 

• was not sufficiently transparent when describing its services, including in sales calls
  
• failed to comply with OFT Debt Management Guidance, the Consumer Credit Act and other consumer legislation
  
• demonstrated a lack of integrity.
  

[Chuck1es]

but payplan, stepchange etc do the same for no fee.

 

so blows the need for a fee out the water.

 

the thing NO DMC, paid or otherwise does is...

 

 

cHECKS THE LEGALITY of your debts..

 

they all just BLINDLY pay anyone that sends a threat-o-gram.

 

dx

 

I totally and utterly disagree. Mine checked everything, came round to my house, were always on the end of the phone, put my mind to rest all the time, dealt with my debts in a personal manner, kept me fully informed and then negotiated settlements and even went to court for me. To be fair, it was a small one man business but it was superb.

 

I spoke to payplan and it was like dealing with a call centre.

[Conniff]

I don't think they are deceitful companies, (you used another word that is automatically taken out), like all companies they exist soley to make profits, but every penny they keep of their clients money would get the client out of debt even faster and cheaper if it was handed over to the creditor.

[Chuck1es]

I don't think they are deceitful companies, (you used another word that is automatically taken out), like all companies they exist soley to make profits, but every penny they keep of their clients money would get the client out of debt even faster and cheaper if it was handed over to the creditor.

 

I agree, they are not deceitful and they made it clear what they charged. I agree also it could be used for paying off the debt but I was happy to use it for the personal service I used and peace of mind.

[Chuck1es]

My dmc did help me.

 

By removing my innocent post, it would seem that it is all about complaining rather than being constructive.

 

If my view is that I had a very worthwhile experience and it was worth every penny, then why shouldn't I be allowed to say it? I genuinely believe I would have ended up paying more if I didn't have their help as I would have been bullied into it by the lenders.

[Blazing Saddles]

If you escaped from First Step Finance you were lucky it appears that they systematically stole all the client's cash 7.2 million over 4 years