EDA Debt Solutions - Evesham Debt Advisors

[Amethyst]

Another Debt Management Firm - Evesham Debt Advisors - EDA Debt Solutions - has been refused permission to continue trading as a debt management plan provider.

2016 EDA Debt Solutions is a trading style of Evesham Debt Advisors Ltd. Registered address: Healthcare House, Snaygill Industrial Estate, Keighley Road, Skipton, North Yorkshire, BD23 2QR

Registered in England and Wales No. 07095979 ( https://beta.companieshouse.gov.uk/c...filing-history )
Authorised and regulated by the Financial Conduct Authority
Consumer Credit Register number 633120
Data Protection Registration No. Z2171021


Www.Eveshamdebtadvisors.Co.Uk
debt-managementplan.net
debt-managementplan.co.uk

Their book appears to have been purchased by ' The Debt Advisor Ltd '

Customers of EDA Debt Solutions should by now be aware that EDA cannot continue to manage their plan. As of 1^st May 2016, EDA will not continue to make payments on behalf of customers.

The Debt Advisor Ltd has been approached to help EDA customers with setting up an appropriate debt solution plan.

We have written to the EDA customers referred to us and we are in the process of contacting them to carry out a review.

Company Registration: 06248441 | Data Protection: Z9973946 | The Debt Advisor Limited is regulated and authorised by the Financial Conduct Authority Reg No: 606669

Debt Advisors Fee's are as follows;

Set up fee

We are a free charging company. We charge fees to cover our administration costs during the duration of your plan. As the bulk of our work is done during the initial stages of your DMP, we charge an initial set up fee.

The cost of this set up fee is spread over the first 6 months so that your creditors receive payment from the first month. The set up fee is calculated at 3 times your monthly contributions and is subject to a maximum of £1000.

Monthly management fee

Once the set up fee has been collected, we will charge a monthly management fee from month 7. Our monthly management fee is 17.5% of your monthly contributions. If your monthly contribution is £99.99 or less, this is subject to a minimum of £25 per month. For monthly contributions of £100 or more, a minimum fee of £30 per month applies. All DMPs are subject to a maximum monthly fee of £100 per month.

This means if you pay £200 a month to your DMP over the first year (£2400 in total) it will cost you £1020.

If your plan has been moved to The Debt Advisor Ltd consider moving to a FREE DEBT MANAGEMENT PLAN such as those run by STEPCHANGE or PAYPLAN - or taking it over yourself with help from CITIZENS ADVICE, NATIONAL DEBTLINE, MONEY ADVICE SERVICE.


Free debt advice (including free debt management plans) can be accessed via the Money Advice Service (MAS) website or by phone on 0300 330 2222. Calls charged at national rate.

[Amethyst]

Re: EDA Debt Solutions - Evesham Debt Advisors

EDA's Fee Structure

Easy Fees for debt management plans!

We aim to ensure that our fees are fair to our clients and to their creditors who will get paid from your very first contribution to your plan.

• There is no initial/set up fee
• We don't charge an upfront fee
• We don't charge as a % of your monthly payment
• Your creditors will receive a payment from your first payment to us
• Our fees are simple to understand
• Our fees are fair to you

We charge one fee based on the number of debts that you have. Up to and including nine debts our fee is £6 per debt, per month. If you have more debts than this we charge £5 per debt, per month.
Your affordable monthly payment to us is inclusive of your fee. This covers:

• Your own dedicated Account Handler
• Monthly emailed or posted statements to keep you up to date with the progress of your plan
• Computer systems to ensure that each DMP is managed efficiently
• Trained staff available to deliver ongoing advice
• Initial setting up of the plan with your creditors
• Ongoing contact with creditors
• Regular updates to creditors
• Distribution of monthly payment
• Regular reviews to make sure your plan remains affordable

You have a cancellation right which is sent out in the written information sent to you. You are also entitled to a 'cooling off' period, which ends fourteen working days after you receive your contract documents. If you change your mind during this cooling off period any monies paid will be returned to you with no charge being made. A minimum of 50% of your payment will be paid to your creditors and our maximum fee is £100 per month. The minimum monthly payment is dependent on the number of debts that you have.

EDA Fees

• Our fees are £6 per debt, per month if you have up to (and including) nine debts. If you have more than nine debts, it will be £5 per debt, per month. Your monthly payment is inclusive of this fee. The maximum we charge is £100 or 50% of your Monthly Payment. You acknowledge that this amount will be deducted by EDA from your Monthly Payment prior to any sums being applied to meet payments under your DMP.
• Should you exercise your right to cancel the agreement prior to your debts being cleared, then the total fees charged may be considerably less.