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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 Iím 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! Heís in a bit of a state so Iím trying to help - is there anyway of pursuing this to get some of the £460 he has paid to his creditors?
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  • #2


    • #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

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      • #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,


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