I am so glad that I read the reviews with regards to Wentworth as I nearly sent them a cheque this morning. I also have made the mistake of calling CFD at the premium rate, and now feel that I have just thrown money away on that call again.

I have been offered a loan with Ocean Finance but not for the full amount I would like, so I am a bit hesitant as I would like to consolidate everything and they are charging 22% APR.

Does anyone know anything about Debt Management companies, I have been approached by a few and though they sound very good I'm concerned I will be black listed and will never be able to receive credit again.

Does anyone know anything about these companies?

Or where else can I get an unsecured loan from.

Thanks.

Hi,

not that im an expert but iv been advised that there's not such a thing as being 'black listed' - different companies use ur score differently so it might be worth checking some of the posts on here for advice - there's some excellent references for reputable companies!!

Just cause one company refuses you doesn't mean that another wont accept you.

x

A debt mangement plan can affect your credit rating for up to six years however as most lenders still want to lend they seem happy to overlook lots of negatives on a credit file depending on your circumstances (and I guess how much money they can make out of you!).

If you are going to do something that damages your credit file look into an IVA as you may be able to get rid of all of your debt for less than you owe - same impact on your credit file as a debt management plan.

There are loads of people doing IVAs. I spoke to one that I found in my yellow pages - they told me I didn't need to do an IVA and gave me some letters to send off to my creditors. The letters sorted out all of my problems and they didn't charge me. They were really helpful. Nancollasgreer.

Hi,

I know it was a long time since you added this post but you say that you were given copies of letters that you could send to your creditors. How do you go about getting these? Basically, I was put in touch with a Debt Management company by my bank, although I wasn't too much in debt. I had to pay a fee I could ill afford and was then told to not make anymore payments to my credit card provider and the catalogue I had, and to send all correspondence to them. I did so, only to two months later receive phone calls from both of my creditors telling me of fees and interest because I hadn't paid anything. Got on to the Debt Management, they claimed they had never received anything from me so couldn't begin working on my creditors.

I spoke to my local citizens advice but because I do not owe thousands and thousands, they just told me to ask the creditors for some lenience, they couldn't really get involved. I am getting desperate to the point that I am being asked to paid ludicrous sums each month to"clear" the mnth, but can not manage it now. Every month it seems to be getting worse. Would you have any idea were I can get a copy of such letters to send and hopefully help?

Many thanks in advance

Kate