Debt Management Schemes

#1
Just a quick one. Has anyone on here or know of anyone who has had any dealings with a Debt Management Company called Baines & Ernst?


I really dont wish to go into to many details on here but i have contacted the above named company as i am struggling with finances after a very expensive and bitter divorce.

Just need to find out if they are a reputable company or not! and how can i go about finding out if they are what they say they are?

any help, advice on this would be great

SS
 
#5
I'd concur with the advice given here or alternatively have a look at Consumer Credit Counselling Services (C3S) available at http://www.cccs.co.uk/ who have a long history of helping out in these situations: so much so in fact that they're now sponsored by some of the larger lenders.

EDIT: Not sure if it would effect vetting but the key thing is to be upfront in everything on vetting - they'll get it anyway and you're going to be in trouble if you haven't 'fessed up to it in advance.
 
#6
I would agree with contacting CCCS; one of my mates is in a financial pickle and is using their services. They have been really, really helpful with things like budgeting, template letters to lenders, advice on what lenders can and can't do etc.
 
#7
slopey_shoulders said:
Cheers, just apprehensive thats all..........Would being bankrupt etc, affect vetting?
Yes it would as would IVA & debt managment as well.

Here have a look at this

stilts
 
#8
Quite a few years ago I had an interview for a job at a Debt Management company. No names, but advertises (or did) on national TV. The interview was conducted by their MD and another senior manager. I have never been anywhere, even close to, to the contempt in which they talked about their 'customers' during the interview. Basically they're after money out of your pocket and couldn't give a fig about anything else - including your current or future credit rating.

Get down to CAB. They will help you negotiate with your creditors (assuming you have debts) which is all the Debt Management companies will do - except CAB is free. Your creditors will far rather have something back rather than nothing and by being up front with them (not easy) they are likely to be more sympathetic to your circumstances.

I have personal experience of getting out of 35K + debt to nothing in 2 years. And yes it did involve a house, a woman and worse of all a joint credit card (not a mistake you make twice).

As ex green slime (IIRC) Your financial situation will be relevant to your vetting status. Particularly if you still have debts. Money is one of the tried and tested ways of 'turning' someone if naughty people are interested in you. And it's certainly happened in the past where people have offered themselves up for cash - and in some way these are easier to handle rather than conviction/ politics/ blackmail etc. - but I go off topic. As said above the best and only thing to do is be up front for your vetting. Concealing even minor things is career ending once, and when, they are found out.

Feel free to PM if you want any more debt advice - but frankly I can't tell you more than CAB.
 
#10
If you are serving or ex serving, the RBL now pays for a network of debt counsellors within CABs. This gives service people priority of a sort, within a system that is becoming overloaded.

Far better, more impartial and less expensive than any Debt Management Company.
 
#11
Avoid any fee-charging company. You can arrange a DMP yourself, or go through one of the free organisations.

If you go to CAB, make sure you speak to one of their specialist money advisors - other staff don't know enough about debt to give good advice.

CCCS and Payplan are both good in certain circumstances, but note that both are financed by the credit and debt industry. Their purpose is to arrange repayment; they won't care about any disputes such as missold PPI and so on.

Never give income and expenditure details to any creditor or debt collection agency - they have no right to the info, and will use it against you.

Have a look at http://www.consumeractiongroup.co.uk/forum/ for more info and help.
 
#12
I personally have used CCCS before succumbing to bankruptcy (thanks to a MAN, a joint bank account and credit card) and would be more than happy to point anyone in their direction. Their help was invaluable and they don't make you feel stupid for having got into the situation in the first place.
 
#13
ViroBono said:
Avoid any fee-charging company. You can arrange a DMP yourself, or go through one of the free organisations.

If you go to CAB, make sure you speak to one of their specialist money advisors - other staff don't know enough about debt to give good advice.

.
CAB staff who aren't money advisors aren't allowed to give advice on debt any more, hence the long wait to see the qualified ones who can advise. RBL took action to make sure that serving and ex-serving folk wouldn't have to wait so long, and are funding extra advisors who have to give priority to them.

SSAFA Caseworkers and Debt Advisors are not allowed to give any debt advice any more - it's all done via CAB nowadays, so that you're sure to get a qualified advisor and pdq.
 
#14
Grey_Mafia65 said:
I personally have used CCCS before succumbing to bankruptcy (thanks to a MAN, a joint bank account and credit card) and would be more than happy to point anyone in their direction. Their help was invaluable and they don't make you feel stupid for having got into the situation in the first place.
Those trucks sure are expensive, aren't they?

8)

Lits
 
#15
Litotes said:
Grey_Mafia65 said:
I personally have used CCCS before succumbing to bankruptcy (thanks to a MAN, a joint bank account and credit card) and would be more than happy to point anyone in their direction. Their help was invaluable and they don't make you feel stupid for having got into the situation in the first place.
Those trucks sure are expensive, aren't they?

8)

Lits
Lits that has given me the biggest giggle of the day. I thank you!
 
#16
Grownup_Rafbrat said:
Litotes said:
Grey_Mafia65 said:
I personally have used CCCS before succumbing to bankruptcy (thanks to a MAN, a joint bank account and credit card) and would be more than happy to point anyone in their direction. Their help was invaluable and they don't make you feel stupid for having got into the situation in the first place.
Those trucks sure are expensive, aren't they?

8)

Lits
Lits that has given me the biggest giggle of the day. I thank you!
My pleasure, Madame.

Litotes
 

samm1551

Old-Salt
Book Reviewer
#17
I worked in the finance industry until I got made redundant, and know enough to say that the above is all pretty sound advice. I would definately say do NOT EVER enter into an IVA or get involved with Baines & Ernst or similar because it will not stop you getting CCJ's/Defaults against your name which is what screws your future credit (especially at the moment). Also you don't say if you own property or not, but IVA's and CCJ's can and will be charged against your property. I would go to the CCCS or the CAB, or do a budget for yourself (realistic one) not to show anyone else, but to make an arrangement with the creditors you have to pay. Make sure you pay more to the creditors that charge the most interest first. That might sound obvious, but a lot of people don't think of the extra charges that interest brings.

Whatever you do, good luck. Once it is sorted you will probably feel a lot better about the situation even if the ex has shafted you.
 
#18
Take a look at www.nationaldebtline.co.uk. They are a charity (Money Advice Service) funded by government and industry whereas the CCCS inclines more to credit card debts and, although impartial, is industry linked. The CAB is ever good advice, but getting to see them can be difficult. You should never go direct to any debt management company - they exist only to make money and no matter how deep your misery, they can generally find the means to exploit you for profit. National Debtline will give free, independant and impartial advice. I've been through the mill myself, if you think I can help, please PM me, there may be some things that the above cannot tell you, but I can, with regard to creditors hassling you.
 

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