Amigo troubles

[Debt Camel]

Re: Amigo troubles

I think both NDL and stepchange are sponsored by various companies including debt purchase/collection companies.

Both National Debtline and Stepchange receive the large majority of their funding from creditors. But it doesn't mean that those creditors are favoured at all - they don't influence campaigning work (Stepchange are running an excellent campaign at the moment on getting a "breathing space" for people who have financial problems, see http://www.stepchange.org/Mediacentr...pleindebt.aspx) or the day-to-day advice process.

Who else would fund a debt charity? I am sure they would love to get mass contributions from the general public, but it's not going to happen. Large contributions from the government are about as likely as a snowball in hell... It is reasonable that the financial industry funds them as they are mopping up the problems caused by the financial industry.

[nemesis45]

Re: Amigo troubles

Both National Debtline and Stepchange receive the large majority of their funding from creditors. But it doesn't mean that those creditors are favoured at all - they don't influence campaigning work (Stepchange are running an excellent campaign at the moment on getting a "breathing space" for people who have financial problems, see http://www.stepchange.org/Mediacentr...pleindebt.aspx) or the day-to-day advice process.

Who else would fund a debt charity? I am sure they would love to get mass contributions from the general public, but it's not going to happen. Large contributions from the government are about as likely as a snowball in hell... It is reasonable that the financial industry funds them as they are mopping up the problems caused by the financial industry.

I'm fully aware of this DC just making the OP aware of the facts.

nem

[Berniethebolt]

Re: Amigo troubles

According to their websites stepchange is funded entirely by the credit industry whereas Ndl is funded by the credit industry, utility companies and the government.
The Op has said they found stepchange to appear biased and prefers Ndl. that is also my experience. I think they both serve similar but distinctly different roles with NDL being better at advice and empowerment whereas stepchange will take control for you.

Of course it is the powerful credit industry lobby that uses this to show how caring the industry is just as the alcohol and gaming lobbies do the same.

[FlamingParrot]

Re: Amigo troubles

Debtcamel

Thanks for the correction, you will see that I had already been corrected and accepted my mistake . I couldn't agree more about getting proper advice hence my advising NDL.

Like the OP I never quite trust step change but I couldn't possibly say why , I just don't feel they are as independent as they could be , hence NDL who I have always found to be excellent

I remember someone who enter into a DMP with the CCCS (now Stepchange), after a year during which he shelled out £5,000, his overall debt only reduced by £497! :scared: :scared: That was because they were all still adding interest and charges. You would think if you go through a well-known third party "charity" like that they'd at least sort that out for you.

It's perfectly possible to enter into arrangements with creditors individually, so you are in control of your own finances and paperwork. You are in a position to decide who to pay, who not to pay, who to settle with via a F&F, etc.

IMHO I see no reason to refer people to third parties just to sort out unsecured non-priority debts. Would be different if they were looking into formal solutions like BR and DROs. Perhaps the OP would like to tell us a bit more about their debts to see how we can help. :typing:

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According to their websites stepchange is funded entirely by the credit industry whereas Ndl is funded by the credit industry, utility companies and the government.
The Op has said they found stepchange to appear biased and prefers Ndl. that is also my experience. I think they both serve similar but distinctly different roles with NDL being better at advice and empowerment whereas stepchange will take control for you.

Of course it is the powerful credit industry lobby that uses this to show how caring the industry is just as the alcohol and gaming lobbies do the same.

I agree, NDL is an excellent resource whilst the other two want to take over your finances and your life. Very different approach.

[Berniethebolt]

Re: Amigo troubles

Who else would fund a debt charity? I am sure they would love to get mass contributions from the general public, but it's not going to happen. Large contributions from the government are about as likely as a snowball in hell... It is reasonable that the financial industry funds them as they are mopping up the problems caused by the financial industry.

The reasons that the credit industry fund the likes of step change while slightly complex boil down to PR and deceit. By funding the charity which of course is a taxable deduction they can pretend to be responsible lenders who look after their customers. This in turn keeps the FCA happy and to some extent the media who are very important . The credit industry is a pressure group akin to the NRA in america who have managed so far to keep the right to own a gun in the U.S constitution despite the overwhelming evidence that shows that it is the guns that kill people .
If we think anything else we are blinkered

[nemesis45]

Re: Amigo troubles

The reasons that the credit industry fund the likes of step change while slightly complex boil down to PR and deceit. By funding the charity which of course is a taxable deduction they can pretend to be responsible lenders who look after their customers. This in turn keeps the FCA happy and to some extent the media who are very important . The credit industry is a pressure group akin to the NRA in america who have managed so far to keep the right to own a gun in the U.S constitution despite the overwhelming evidence that shows that it is the guns that kill people .
If we think anything else we are blinkered

I thought you were a fan of NDL?j

[Berniethebolt]

Re: Amigo troubles

That is exactly why I prefer NDL because they are not totally reliant on the credit industry , approx 30% of their funding comes from government the rest from the financial sector and private donations/trusts.

If you read what I said I did not mention NDL but I also said that I preferred NDL to step change .

I would prefer a directly funded national debt charity who did not have any agenda to consider

Well actually I would prefer and end to the current system of credit

[FlamingParrot]

Re: Amigo troubles

The reasons that the credit industry fund the likes of step change while slightly complex boil down to PR and deceit. By funding the charity which of course is a taxable deduction they can pretend to be responsible lenders who look after their customers. This in turn keeps the FCA happy and to some extent the media who are very important . The credit industry is a pressure group akin to the NRA in america who have managed so far to keep the right to own a gun in the U.S constitution despite the overwhelming evidence that shows that it is the guns that kill people .
If we think anything else we are blinkered

They also make it easier to pay and encourage people to repay their debts and pay as much as they can. I recall an official CCCS rep on MSE offering help to set up a repayment plan for a statute barred debt "because it's still due and payable". Says it all really! :rant:

[Debt Camel]

Re: Amigo troubles

IMHO I see no reason to refer people to third parties just to sort out unsecured non-priority debts. Would be different if they were looking into formal solutions like BR and DROs.

That shows that you don't see a lot of people with major debt problems I am afraid.

I love clients who can run their own DMP - I am a big fan of this approach and the CABmoney system is a great resource to support them https://nedcab.cabmoney.org.uk/dmp.asp.

But many clients either can't manage or are too worried and need a lot of support. English may not be their first language, they may have literacy problems or they may suffer from anxiety or depression. Or their debt problems are inter-twined with other issues such as benefits.

Perhaps the OP would like to tell us a bit more about their debts to see how we can help. :typing:

Sure, if they would post more about their debts and an income & expenditure sheet, that would be great. But realistically most people would prefer to do this in confidence with a debt advisor, not on the web.

[MRSP]

Re: Amigo troubles

I remember someone who enter into a DMP with the CCCS (now Stepchange), after a year during which he shelled out £5,000, his overall debt only reduced by £497! :scared: :scared: That was because they were all still adding interest and charges. You would think if you go through a well-known third party "charity" like that they'd at least sort that out for you.

It's perfectly possible to enter into arrangements with creditors individually, so you are in control of your own finances and paperwork. You are in a position to decide who to pay, who not to pay, who to settle with via a F&F, etc.

IMHO I see no reason to refer people to third parties just to sort out unsecured non-priority debts. Would be different if they were looking into formal solutions like BR and DROs. Perhaps the OP would like to tell us a bit more about their debts to see how we can help. :typing:


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I agree, NDL is an excellent resource whilst the other two want to take over your finances and your life. Very different approach.

I can only agree so far with what you have said.I like to maintain control as far as I can over my finances in my current unfortunate situation and I agree that some of these charities,in particular Stepchange are not entirely what people are led to believe.
I have several creditors who I am at he moment managing to deal with myself,although sometimes I find the whole thing a steep learning curve,I do say "at the moment" because things can change and there is the possibility that they can become more difficult at any stage so I am not complacent when I have an arrangement in place.
I do sometimes need to seek help and advice though and at the moments the pressing item on the agenda is Amigo as I now have nine days to formulate a response.
To enlarge,the creditors I have are several credit cards and bank loans and also some catalogues in addition to Amigo.
I am not a debt dodger and have been paying my debts for several years when my situation started to change and my income gradually fell year on year.I am a professional who is self employed and I had only about a year to run on my loans when this happened to me.Consequently I had to obtain more credit to try to keep my head above water hoping for an upturn in my situation which hasn't so far happened.
I am dealing with other creditors who are presenting challenges which I may need to ask for advice on, but as I said at the moment Amigo is the most pressing.
I am extremely grateful for the advice received on here so far.

[Berniethebolt]

Re: Amigo troubles

A bit more detail is very different from the MSE approach of cancel sky or cancel your mobile phone . Those types of advice can end up with the person just owing more when extra defaults and late payment charges are added.

Frankly if I had been working when it all hit the fan I think BR would have been the best option, by now it would have all been over but I was't working and BR was not an option because of the fees so with some guidance i kept myself busy and so far so good. Yes I suffer from both anxiety and depression bit of course these have different effects on everyone

[Berniethebolt]

Re: Amigo troubles

No one who is trying to deal with their debts is a debt dodger even if they end up not repaying their debts, shit happens and we deal with it. the debt dodgers are those who go BR but manage to stay in their million £ house because they transferred it to a trust sometime before or people who run up credit cards and then go BR when they are not working -not run up to survive but run up to enjoy a lifestyle

[MRSP]

Re: Amigo troubles

Unfortunately this is a corrupt world and you can never take anything on face value and charities are no different.

[FlamingParrot]

Re: Amigo troubles

That shows that you don't see a lot of people with major debt problems I am afraid.

Trust me, I do, I know someone whose total debt (excluding mortgages) is £150k! :scared: Still manages without going through third parties.

I love clients who can run their own DMP - I am a big fan of this approach and the CABmoney system is a great resource to support them https://nedcab.cabmoney.org.uk/dmp.asp.

That's a very useful site, I often post a link to their online budgeting tool. :thumb:

But many clients either can't manage or are too worried and need a lot of support. English may not be their first language, they may have literacy problems or they may suffer from anxiety or depression. Or their debt problems are inter-twined with other issues such as benefits.

There are people who may need the additional support but not everyone does.

Sure, if they would post more about their debts and an income & expenditure sheet, that would be great. But realistically most people would prefer to do this in confidence with a debt advisor, not on the web.

We are not debt advisors and we don't ask people for I&E sheets here, the idea is just to comment and make suggestions and leave the actual figures up to the OPs to do by themselves, that's precisely the point, otherwise we'd be doing the same as those DMP providers.

A bit more detail is very different from the MSE approach of cancel sky or cancel your mobile phone . Those types of advice can end up with the person just owing more when extra defaults and late payment charges are added.

Which don't actually tackle the root of the problem.

[Debt Camel]

Re: Amigo troubles

Trust me, I do, I know someone whose total debt (excluding mortgages) is £150k! :scared: Still manages without going through third parties.

It isn't the size of a debt that makes it "major", it's the size in relation to someone's disposable income and whether there are priority debts in the mix.

There are people who may need the additional support but not everyone does.

agreed. I am a great believer in self help and empowering people. As are Stepchange incidentally.

We are not debt advisors and we don't ask people for I&E sheets here, the idea is just to comment and make suggestions and leave the actual figures up to the OPs to do by themselves, that's precisely the point,

That is the nature of Legal Beagles and it fulfills a useful purpose.

HOWEVER in some situations it just isn't possible to give advice when you only know part of the picture. This Amigo loan may well be one such case - Amigo are incredibly difficult to deal with and will go for a charging order much faster than most other creditors.

Nothing has been said which suggests any form of legal defence to a CCJ or subsequent charging order.

The OP could decide he doesnt care about a charging order. Or he could decide whether to offer Amigo more and his other debts less in the hope of trying to avoid one. We don't know enough about his situation to say much more.