Immediate Financial Co

  Monoux 17:03 17 Dec 2008
Locked

One of my daughters friends has asked me if I know anything about the above firm. It seems they negotiate with your creditors to pay your debts at so much per month and act on your behalf. You pay them so much per month and they distribute it and I presume they keep a percentage for doing so.
She has paid one months amount to them but is now being chased by her creditors because they have not been paid

When she phoned them she has been told the payment will be made soon but it is now well over a month since she paid them.

The whole thing sounds dodgy to me but I wonder if anyone on the forum has had experience of this firm

TIA

  GANDALF <|:-)> 17:54 17 Dec 2008

I have not had experience with this lot but all these tyope of companies are a waste of space. The best course of action, for anyone in financial problems, is to see Citizen's advice or specialist debt centres. These services are free and they will accomplish exactly the same. She needs to dump this shower ASAP and see click here pronto

G

  spuds 18:17 17 Dec 2008

Agree with Gandalf on this one, more so and especially if the person is already having problems with this company.

  laurie53 20:38 17 Dec 2008

Can't help with this particular firm, but I know that consumer protection agencies have issued warnings about similar companies who have scammed people in a similar position and never paid any, or very little, money over to the creditors.

Your daughter's friend needs to get some proper help and legal protection as soon as possible.

As already advised, CAB or free debt advice centre.

  Monoux 21:03 17 Dec 2008

Thanks folks --- seems the rat I smelt is seen by you all too. I'll try and encourage her to the CAB as a first stop

  The Brigadier 09:27 18 Dec 2008

Report the company to BBC Watchdog who may be able to get the money back?

  tullie 16:31 18 Dec 2008

Gandalf cant be talking from experience?So dont know why he says they are a waste of space?

  Monoux 21:33 18 Dec 2008

Midgetninja - sorry I dont have a link as I said it is a friend ( work collegue to be precise )of my daughters so I'm a step removed from this.

However I understand that today her bank phoned her at work because her account had reached its overdraft limit of £250.00 having been emptied of its entire balance plus the overdraft. I also understand that the account has now been suspended / frozen by her bank.
Just as well it was today as her employers usually pay salaries on the 25th of the month but are paying early becauise of course that is Christmnas day so her December salary was due to be paid into it tomorrow.

I don't know what the bank are proposing to do but I've sent a message via my daughter that I think she should contact Watchdog and possibly the Police and visit her bank to get another account set up that they cannot access.

Obviuosly she will need to get some proper help to resolve her debt difficulties and I've reiterated the advice to contact the CAB

  Colin 21:59 18 Dec 2008

Two reputable debt management companies:

click here

click here

A good forum for debt advice:

click here

  Monoux 06:54 19 Dec 2008

Colin -- Thanks I'll pass the info on

  GANDALF <|:-)> 07:53 19 Dec 2008

'Gandalf cant be talking from experience?So dont know why he says they are a waste of space?'...hmmmmm, let me think.....you can get the same service for free from Government backed enterprises which, in theory, if you have been a taxpayer, you have paid for. These 'consolidation' companies prey on the vulnerable.

G

This thread is now locked and can not be replied to.

Elsewhere on IDG sites

Fujitsu Lifebook P727 laptop review

Best of the Grad Shows 2017: University of the West of England (UWE)

Best value Mac: Which is the best £1249 Mac to buy

Les meilleures GoPro 2017