Advantages Do offer up to date Consumer Debt Advice
Disadvantages Not totally upfront with clients
It's simple the CCCS are financed by the Creditors and it's not a non-profit (Charity) organisation they are in it for the money as well so although it appears they are helping the clients who come to them their main aim is to get that client to make a reasonable payment to ensure they get a Fair share contribution back from the Creditors. In order to be accepted for a Debt Management Plan you need at least £5 per creditor for some people this may seem little but for many people like myself it could be difficult. The £5 rule exists because that's the minimum they can pay to creditors to guarantee their Fair Share Contribution. If you can't pay them your basically left on your own to sort it out yourself. So technically the service is not really free they just don't tell you some of that money you pay actually comes back to them and that's another reason why creditors don't stop interest entirely because they are already receiving a reduced payment then they still have to give CCCS back some of that. Basically you might as well go to a company that charges because the true effectiveness of any of these Debt plans is if the balance is actually reducing.
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