Gregory Pennington IVA / Debt management Review

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topu's Review of Gregory Pennington IVA / Debt management

24th Mar 2008

Overall Rating

0 stars
  • Value for money
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  • Quality Of Service
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Good Points

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General Comments

I applied for a loan to be told i cant get one but they will help me repair my credit with an affordable plan. The first payment of what would have been £280.00 + 25% admin fee (£342.50) was their fee. My creditors would get paid from my 2nd fee onwards. ** I refuse to accept it costs £342.50 to send letters, faxes and make phones calls to liaise with 6 creditors! ** And why do creditors get paid from the 2nd payment, If I was a creditor i would question this and so many do. I have now sought advice through Forget Debt,. They were cheaper, friendlier and after conversations with my creditors they actually said that Foregt Debt seems a much better option than any debt management company. Forget Debt do exactly the same as any any debt management company, they only difference is they do not distribute payments and they are cheaper. What Gregory Pennington was willing to charge me £342.50 and then £35.00per month thereafter, I paid Forget Debt £65.00 and that was it. The only other cheaper option was the C.A.B or CCCS (who are free) but to get an appointment or to discuss this, I was looking at 4-6 weeks. I would recommend Forget Debt to anyone, and you certainly haven't got anything to lose by talking to them. the address for anyone is forgetdebt.org

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