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Debt Compare Ltd

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  • Debt Compare Ltd

    I am writing on behalf of a friend who has got himself into a mess and I’m trying to help him out. He entered into a debt management plan with Debt Compare 6 months ago and is paying them £80 per month to pay off his creditors with a total amount owed of £1000. He received a letter today from them saying that they will now start paying his creditors £40 per month of the £80 and that they are the contact point. He was under the impression the whole £80 was going to them - whereas it has just gone to Debt Compare for the last 6 months and he thought he had wiped half his debt! They also told him to ignore any letters he received from his creditors in the meantime! He’s in a bit of a state so I’m trying to help - is there anyway of pursuing this to get some of the £460 he has paid to his creditors?
    Tags: None

  • #2
    Amethyst

    Comment


    • #3
      These ? Www . Debt compare . Co . Uk / pbs. ( I've not linked directly on purpose )

      Just check with him if it is they please first - also ask if he has a copy of any agreement with them and if he has signed up to any 'switching' utilities type schemes.

      Also what the debts are that make up the £1k he owes. Payday loans, credit cards, overdraft etc ?

      And when his next payment is due ( to debt compare )

      He'll likely need extracting ( they're not FCA authorised - So far as I can see ) but let's check situation. If you have any letters /emails from them try get a copy. Particularly that most recent letter.
      “We may not win by protesting, but if we don’t protest we will lose. If we stand up to them, there is always a chance we will win.” Hetty Bower

      Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

      Received a Court Claim? Read >>>>> First Steps

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      Comment


      • #4
        He may have been referred to a genuine debt management company... it would be illegal for Debt Compare to run a debt management plan,

        Comment


        • #5
          Amethyst it is the company you have linked. He has asked for a copy of all correspondence and they have asked him for £10 for these?

          Comment


          • #6
            Oh and original creditors were EE and Very and he was passed on to Debt Compare by Lowells

            Comment


            • #7


              Has he asked the under the data protection act ( as a subject access request ) ? They can charge a reasonable fee if the request is unreasonable - which it isn't.

              SAR is
              https://legalbeagles.info/library/gu...ccess-request/


              ICO says
              Can we charge a fee?


              In most cases you cannot charge a fee to comply with a subject access request.

              However, as noted above, where the request is manifestly unfounded or excessive you may charge a “reasonable fee” for the administrative costs of complying with the request.

              You can also charge a reasonable fee if an individual requests further copies of their data following a request. You must base the fee on the administrative costs of providing further copies.


              I doubt very much he was passed on to Debt Compare by Lowell I'm afraid ... however if he was, then it'd be in a phone call rather than in writing So might be worth a SAR to Lowell - specifically requesting that call recording if he can remember when it was.
              Originally posted by Coconutmilk View Post
              Oh and original creditors were EE and Very
              Presumably the Very debt is with Lowell - any idea how much it was and if he was already in communication with Lowell, he could simply have gone through his income and expenditure with them - they use the SFS ( standard financial statement ) and would get far more ( well, something ) by directly agreeing an instalment than sending him off to be screwed over by a unregulated debt management provider ( if that is the case ).

              EE is a mobile phone debt at a guess? Was that with Lowell too? in which case same applies.

              Have you seen any of the letters/documentation ? ( the FCA would be interested IF it is the case that Debt Compare are acting as a debt management co without being authorised )


              “We may not win by protesting, but if we don’t protest we will lose. If we stand up to them, there is always a chance we will win.” Hetty Bower

              Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

              Received a Court Claim? Read >>>>> First Steps

              If we have helped you we'd appreciate it if you can leave a review on our Trust Pilot page

              Find Solicitors offering fixed fees on our sister site - JustBeagle.com

              Comment


              • #8
                debtcompare.co.uk

                http://t.co/EBGnhYrCcF Debt Management & Debt Solution Fees Comparison Service. This is the twitter service for anyone seek debt help or advice.
                Contact

                Devonshire Street North
                M12 6JH
                United Kingdom

                Comment


                • #9
                  sorry but it is going to be MUCH easier if you suggest your friend posts here directly.

                  Comment


                  • #10
                    I will do that - thank you

                    Comment


                    • #11
                      Originally posted by Coconutmilk View Post
                      I will do that - thank you
                      Did you talk to your friend?

                      I have seen another reference to Debt Compare running DMPs and i would be interested to follow this up.

                      They are NOT allowed to charge £10 for a Subject Access Request. A SAR is a good way to find out what he has actually signed up to. If it turns out to be effectively a debt management plan, I would be thinking of;
                      - putting in a complaint to them and asking for a refund of his payments to date
                      - sending a complaint to ICAEW their regulator that they are running an unauthorised DMP
                      - and reporting them to the FCA for running an unauthorised DMP.

                      Comment


                      • #12
                        Hi everyone,

                        By chance I came across this thread as I was also mislead into signing an agreement with Debt Compare- and am just about to extract myself- I would interested in what happened to the person referred to affected by this as a similar situation has occured, and as far as I'm aware they have probably snared quite a few people.. I only discovered by way of chance exactly what has been going on- because I had my details passed onto Debt Compare by a clone firm pretending to be Stepchange- "Stepschange.co.uk/ Step To Change" the clone firm has actually been named and shamed by the FCA here, their website has since been shut down after I also told the real Stepchange about them after only finding out I had never been dealing with the real stepchange after one of their staff told me on a Moneysaving expert thread- I have reported Debt Compare to Action Fraud as well who are part of the National Fraud Intelligence Bureau, and the FCA are investigating them as well.

                        https://fca.org.uk/news/warnings/ste...uthorised-firm

                        Coconutmilk could you update us all on what has happened?

                        Regards

                        Comment

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