Tag Archives: free debt advice

5 services you can use right now to help you deal with debt

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If you need help with your debts, you might be surprised to learn that there are lots of tools and services out there that can make the whole process just a bit easier.

In fact, we have five such services on the StepChange Debt Charity website and through our friends at Money Advice Service! Let’s check ‘em out…

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DebtDay Live: our updates from across the charity this #DebtDay

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#DebtDay 2016 latest updates

Find out what we’re posting during our #DebtDay social media event, on what we forecast to be our busiest day of the year.
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Customers of these three debt management firms should call their creditors now and seek free debt advice

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If your debt management firm's closed down, we can help

If your debt management firm’s closed down, we can help

Yesterday morning, The Financial Conduct Authority (FCA) warned the customers of three debt management firms to contact their creditors and find out exactly what they owe on their debts.

The debt management firms in question are Sterling Financial Security Limited (Sterling), Haydon Associates Debt Management Consultants Limited (Haydon) and Clear View Finance Limited (Clear View), all based in Lichfield.

Most customers of these firms have had 90% of their monthly payments deducted in fees, meaning that only 10p out of every pound they were paying was actually going towards their debts.

The FCA have announced that these firms have failed to comply with the requirement to provide regular written balance statements to customers. As a result, the FCA has withdrawn permission for them to offer debt management services or set up new debt management plans.

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Customers of these 3 debt management firms should stop making payments now

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We can help you if your debt management company has closed

We can help you if your debt management company has closed

This morning, the FCA announced that customers of Gregson and Brooke Financial Services (trading as Expert Money Solutions), One Tick (trading as Debt Savers Direct and 1-Tick) and the Money Management Service should stop making payments to these firms immediately.

On 29th August, the FCA used their powers to freeze the bank accounts of each of these firms in order to protect customers’ money. Following this action, the firms cannot make payments, which in turn means that they will not be making further payments to their customers’ creditors.

You can read more about these recent developments on the FCA website.

The FCA understand that between 2,000 and 2,500 customers have a debt management or debt reduction plan with one of the Bolton-based firms. Now that these companies are going out of business, other fee-charging companies could swoop in to sign the customers up to their services. If you’re affected by this closure, you should obtain free debt advice through us first.

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Dear StepChange, thanks for helping me…

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Dear CCCS

Dear CCCS…

Every Monday on our Facebook page we highlight one of the many ‘thank you’ cards and letters that we receive from clients we’ve assisted.

We call this our ‘Happy Monday’ message…

Recently we received a letter from two DMP clients who have now finished their plan and moved on with their lives.

The letter was sent to our Chief Executive, Gordon Bell, who read what these ex-clients had to say with much interest…

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Don’t make the wrong decision when you need debt help

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Couple counting out money

Make sure you do the right thing

We regularly hear from people who have buried their head in the sand and let their debt situation spiral out of control. This can be due to having too many payday loans, spending too much on credit cards or any number of other reasons.

From the release of our 2011 Statistics Yearbook last month we already know that 45% of people wait over a year before asking for debt help. It seems as though people try and exhaust all possible options before admitting that they need debt help.

So what are these other options? And more importantly, what are the consequences of not getting advice from a free and impartial charity like us?

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