Hi we are currently having an issue with 123 debt, debts beginning in 2012 we have had a number of bad experiences on the phone to this company with most answers coming up blank we made a complaint about hiding fees review fees so called changes in terms and conditions however 123 states they have charged us an extra 1615.43 for these charges paying more money to themselves than to the debts they are suppose to be untrusted to pay, my debts are not even half paid off over this time. When asked about a numerous amount of discrepancies they have replied to complaint with it was an administration error, management fees are detailed within original and updated terms and conditions, charges applied for expiry of introductory fee (fee for a fee?) as a result of them taking a reset fee they charged us double fees to cover these charges which results in reduced disbursements made to creditors, also explained about a holding account that apparently I have provided to 123. This was news to me and why do I have a separate account without knowledge. What am left wandering I agreed to enter into the contract in 2012 with certain terms and conditions to this contract they are now stating they changed there terms and conditions that's why they managed to receive more than 45% on charges each month how can that be explained without me signing a new contract or agreeing to revised terms and conditions and why a debt for 2411,14 after 3.5years of paying lowest 68 and highest 73 total to 123 debt 2928.86, creditors received 1170,57 leaving 123 debts accountable of explaining where 1229.83 has went and the answers fall sort, my advice stay clear and don't use most unprofessional company I have ever dealt with. Apart from ombudsman and financial conduct what other steps can be taken to ensure no one else is in the same situation and to help receive a refund for these charges that has been explained are in a holding account no one knows about.
This is a disgusting state of affairs and you have been treated appallingly.
Firstly, they cannot just change terms and conditions without you agreeing to them. I am assuming that this holding account is where your money is paid into before it is distributed.
Have you had annual reviews?
Start by making a formal complaint via the company and tell them you want an explanation and you will take it further if this is not dealt with satisfactorily.
I am sure one of the other experts will be along to advise as well.
You could also try going to CAB and see if they can help you.
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
A professional is unlikely to see it until next week but we will keep it bumped up.
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've looked at their website and there is a lot of information on there which is out of date and quite misleading.
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
