Debt Management Reviews
Has anyone ever heard of “Baines and Ernst”?
I am currently £23,000 in debt and i’m on a debt management plan however my creditors are still charging me more interest each month than my replayments and it doesn’t appear to be any light at the end of the tunnel for me.
I contacted Baines and Ernst and they said should be on an IVA, they were going to charge me £400 and wanted £200 upfront over the phone before I had even signed anything.
I told them I didn’t have that kind of money so they said they would take £100 just to open the processing account (bearing in mind I have still not signed anything)
After researching them on the web i have heard nothing but bad reviews. I contacted them yesturday to say I didn’t wish to go ahead with the IVA withe their compay; now they constantly ring ring. last night they rang 5 times at 8:30pm and as late as 9:45pm!!!
I worked until recently for a fiance company , we dealt with a lot of these debt management companies . We always tried to avoid as the majority were a nightmare to get money from .
And as said they do charge for there services , you would be surprised at the amount of people who were using them and thought it was a free service !
They charge a monthly percentage to Handel your debts , but a much quicker way of getting lump sums from people was to advise an IVA
This action may be completely unnecessary as your creditors are very likely to be happy to accept a reduced repayment .
Once you have an IVA against your name very difficult to repair your credit history . Go to the CAB and get advice , they will say they will offer all your creditors £1 a month . Try and avoid such a small amount and pay what you can afford to each one , even if its £5 a month
Hope you get sorted , creditors are very willing to listen to your problems and get some sort of payment from you even if its not the amount they would like