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Half "debt Management" Companies Are Bent - Surprise Finding

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http://uk.finance.yahoo.com/news/half-of-debt-management-companies-exploit-customers-tele-c542af6b200f.html?x=0

Half of debt management companies 'exploit' customers
Myra Butterworth, 9:29, Tuesday 28 September 2010
More than half of debt management companies face being closed down amid concerns that customers are being exploited.
A review of the industry by the Office of Fair Trading found that 129 companies failed to adhere to current standards.
The most common concerns included companies
failing to disclose a fee - suggesting the service is free
when it is not and the poor advice provided by advisers.

All part and parcel of the Brown years of "light touch" for the banksters and shylocks. I suspect the bent ones number well north of 90%.

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Thats not bad when you consider 100% of banks have brought the whole country down through irresponsible lending and fraud.

Edited by Reck B

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http://uk.finance.yahoo.com/news/half-of-debt-management-companies-exploit-customers-tele-c542af6b200f.html?x=0

Half of debt management companies 'exploit' customers
Myra Butterworth, 9:29, Tuesday 28 September 2010
More than half of debt management companies face being closed down amid concerns that customers are being exploited.
A review of the industry by the Office of Fair Trading found that 129 companies failed to adhere to current standards.
The most common concerns included companies
failing to disclose a fee - suggesting the service is free
when it is not and the poor advice provided by advisers.

All part and parcel of the Brown years of "light touch" for the banksters and shylocks. I suspect the bent ones number well north of 90%.

My partner had the misfortune of being taken in by one of these "debt-management" companies, they exploit the weak, vulnerable and desperate when in reality they put you deeper in the hole while skimming your money.

One of their tactics after 6 months of being with them is that they ring and say "we have negotiated with your creditors a lower monthly repayment". In reality they have done no such thing, they just reduce your payments to creditors - in this way they are extending the term of your plan so that they can take more fees over a longer period of time.

Avoid any of the fee charging debt management companies, they are all scams. It's one of the things I hate about the UK, how so many dishonest companies are allowed to keep on trading scamming vulnerable sectors of society.

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My partner had the misfortune of being taken in by one of these "debt-management" companies, they exploit the weak, vulnerable and desperate when in reality they put you deeper in the hole while skimming your money.

One of their tactics after 6 months of being with them is that they ring and say "we have negotiated with your creditors a lower monthly repayment". In reality they have done no such thing, they just reduce your payments to creditors - in this way they are extending the term of your plan so that they can take more fees over a longer period of time.

Avoid any of the fee charging debt management companies, they are all scams. It's one of the things I hate about the UK, how so many dishonest companies are allowed to keep on trading scamming vulnerable sectors of society.

Sorry to hear that, the system is corrupt from top to bottom, all the debt pushers are basically scammers feeding off the public and destroying the economy in the process.

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My partner had the misfortune of being taken in by one of these "debt-management" companies, they exploit the weak, vulnerable and desperate when in reality they put you deeper in the hole while skimming your money.

One of their tactics after 6 months of being with them is that they ring and say "we have negotiated with your creditors a lower monthly repayment". In reality they have done no such thing, they just reduce your payments to creditors - in this way they are extending the term of your plan so that they can take more fees over a longer period of time.

Avoid any of the fee charging debt management companies, they are all scams. It's one of the things I hate about the UK, how so many dishonest companies are allowed to keep on trading scamming vulnerable sectors of society.

name and shame !

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name and shame !

Harrington Brooks aka Allclear Finance - they change their name a lot - just google them + complaints, thousands upon thousands have been scammed by them

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Most of the population are stupid. If someone says they are going to help them, they just believe it. We need to let people be ripped off, so they will learn.

Are you sure you aren't one of them?

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Most of the population are stupid. If someone says they are going to help them, they just believe it. We need to let people be ripped off, so they will learn.

An interesting concept. You wish to abolish all consumer protection law?

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An interesting concept. You wish to abolish all consumer protection law?

only the ones that dont apply to me (or my mum or anyone i care about). And as long as it doesnt cost any of my tax (or my mam or anyone i care about).

This is the irony of some peoples attitudes. You can often find the same people one day shouting about the unfariness of taes and how they want a smaller state etc etc. And then you find them on another winging that a tin of soup/packet of mentos has got smaller and it shouldnt be allowed.

Even I dont agree with a ministry of tin sizing

Edited by CHF

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Most of the population are stupid. If someone says they are going to help them, they just believe it. We need to let people be ripped off, so they will learn.

Why not go the whole hog? Anybody who gets murdered deserves it for being at the wrong place at the wrong time. Serves em right.

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  • 244 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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