I have just watched this item on iplayer. I am not surprised the reporting was delivered in the way it was. This I think is to a large part from a lack of understanding the complex issues we face as people who are desperate for a solution to our problems. We used the CAB prior to our IVA and had a DMP set up by them. However, we had to go to an out of town office as the city centre branch was overwhelmed at the time. The service was good but only lasted for 6 months worth of support. After this you where on your own again. Payplan then put together an IVA which was rejected and they did nothing to make it work out. It was McCamdridge Duffy who sorted it for us and we will eternally be grateful to them for that.
The issue of free v pay is one that always causes angst for people watching these programmes, it needs a level of reporting and a reporter who has a grasp of the issues. May I say possibly one who has gone through the mill of debt themselves. As to the CAB I think they need to look hard at making their service more available and this could be done by making use of varios funding streams from both the private sector and other funders. They operate a far too preciuos a style of approach and end up with piece meal services as a result.
Sorry for the long winded message and I will stop there, for now.
wow its become a right talking point! i would suggest that you email NWT directly and complain as i have, only through challanging media coverage such as this can things be reported properly!
for those who want to complain you can mail them at nwt@bbc.co.uk
Arty
Last edited by artemischild on Wed Jan 25, 2012 12:32 pm, edited 1 time in total.
IVA completion and certificate received 08/10/2012!!!
Funding for the free sector is a VERY hot topic of discussion at the moment and is set to get much hotter. I attended the MALG conference in London a couple of months ago, and the uncertainy around what is going to change for the free sector, and change is very likely in the medium term, seemed to hang over all the free sector delegates like a fog. There are some very concerned free sector workers out there I can tell you.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
Its interesting to note that National Debtline etc are known as "Free" because on my proposal it says £400 plus vat to National Debtline for their work (information gathering to see if I was suitable for an IVA before referring my case). In other words an introduction fee. I didn't mind paying that sum and still don't but it just seems a little underhanded x
I saw a little glimpse of this then switched it off as i was getting really annoyed with it. I was disgusted that people can be so flippant to say or you can just liase yourself. And did you notice the top notch laptop and the nice house that bloke had that they were talking too!!!
If it wasnt for Mike and David and Sam of Cleardebt I would be in so much mess I have creditors harrassing me and have amounted debts again due to depression, as a person, and im not sure if others agree, but you get phoned up or get to speak or email a call centre agent more eager in a sales target than look after you, the plans they put in for the creditor fail.
Fee paying companies are the best solution in my mind they take the hassle off you and provide a very strong support mechanism to look after you when the harrassment starts or you feel you cant cope.
The CCCS are to strict wanting so much monies and the date that suits them and the budgeting is ridiculous, Payplan are muppets passing you from pillar to post and our CAB in the northwest just say go bankrupt as its easier for them.
They forget to mention that Bankruptcy isnt free its a paid for service and the big benefit of fee paying is that you have a contact point and someone to "hold your hand" through the process.
The other thing I found with CCCS, Payplan and CAB was they are very uncaring and judgemental.
There are, however, some debt management companies, and at least three regulated by DEMSA that want you to have your banking with them and sell you more and more products and again other DEMSA companies that just pass your casse to an an admin assistant to look after rather than a debt counsellor.
I think the other beauty for fee paying DMPs is that they have the power to liase when the persons life takes a down-turn and the DMP needs to stop or reduce. They can quickly identify if the solution is not suitable every on the onset or further on and can find and help you find a better solution such as IVA or Bankruptcy
Im going with Cleardebt/Abacus to look after my debts now starting with an DMP whilst I go through a probationary period in work then an IVA afterwards im starting in getting back on track with the depression and trying work again. Once again I have nothing but praise and admiration for Mike Morgan and also cant thank David and Sam Mond enough for all the support too
Mike Morgan deserves a big reward he's always there to help and is only an email away i feel in such safe hands with him and ClearDebt
ill stop ranting now.
Last edited by sjbyron on Wed Jan 25, 2012 4:23 pm, edited 1 time in total.
I didn't see this as I don't live in the North West but it sounds familiar to something else that was on a while ago. Personally I would always go with a fee paying company as I believe that they are more likely to work for you, getting interest stopped etc, and if they don't then there is more comeback.
That said, the CAB do good work with very limited resources.
Tonights coverage was about payday lenders aka legal loan sharks! Just the usual stuff about high APR etc but let some bloke waffle on how they shouldnt have lent him money and should make sure all payday lenders check if people can pay it back like banks do, it just stank of no responsibility from the guy! I agree some loans do seem very attractive and people lend high APR money for many reasons but surely some self responsibilty should have been spoken about? Just seems there are a lot out there saying 'its not my fault, i was offered credit at a stupid rate so i took it'!!
IVA completion and certificate received 08/10/2012!!!
But if the person needs the money for a legitimate desperate reasons the company shouldnt put a stupidly high APR on them but they should credit score as a lot of them dont, banks should be more open to people in desperate need rather than a yes no system it should go back to the bank manager discretion system which some barclays banks use
I don't like Payday loans and I never will. I wouldn't have one even if I was desperate
I can understand why some people do it though.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
I cannot say that I am a great fan of payday loans, nor will I ever be, but there is obviously a place for them, or they wouldn't exist. People get hung up on APR's, but they shouldn't. Run up a £1 accidental overdraft at certain High Street banks I could mention, and don't be surprised to pay an equivalent 3,000,000 (PLUS) APR. At least a payday loan of £100 can be budgeted for as you know exactly what you will pay back. They do take enormous risks, and in fairness to them again, I can tell you that, in my experience at least, that they are a darned sight quicker to work with authorised 3rd parties to help people with problems by accepting offers and freezing interest than a hell of a lot of so called "reputable" lenders I could name. A colleague of mine in customer services writes a brilliantly funny but deadly serious blog on the tactics of some very well known creditors and what clients can expect to face, if you ever get chance to have a look at it.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
I would never have a payday loan, but providing they are transparent about the interest I don't have a problem with them - it's down to the individual whether to apply for one.
I agree with Mike, there is a place for Payday loans if used correctly. The area that needs to be addressed is multiple payday loans that people can run up, once you are in the spiral of multiple payday loans is is almost impossible to get out of it.
Who cares how much an IP cost at the end of the day it's our fault were in debt. If i owe 20k to creditors and i only pay 16k-20k back thats good business, it's better than paying 20k+. If an IP takes 10k out of the payments i've made thats down to the creditors for agreeing.
The only person to blame for my debt is me and I'm more than happy to pay the fees to the IP. Having the stress of debt taken away is priceless as far as I am concerned. Just hope the 5 year plan works out ok (possibly nut hopefully not 6 yr). I consider my IVA to be a 5 year personal loan and that way I feel better about it x
