|
|
 |
 |
FORUM |
|
> Browse and post on our forum |
|
|
|
 |
|
 |
| Author |
 Topic  |
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
 Posted - 15 March 2010 : 16:12:48
|
Deal all
Dont know if any of you watched BBC Breakfast TV this morning
I was shocked firstly at being awake at 06.50 this morning, secondly they had a debt advisor promoting the virtues of a scheme to only to pay £1 a week to your creditors.
great in principle nothing new here, they continued to roll out a lot of stastics saying how bad we are at money management how much we owe on credit cards etc but did not finish the article.
£1 a week to your creditors is not the issue it is being able to have other options to clear the debt. They did not finish about other options in the news articles and left the interpretation that £1 a week could clear your debts.
lets say you have a £30,000 debt over 10 credit cards, under this fantastic scheme you have to only pay £4 a month to each of your creditors, so provided the credit card companies agree to freeze the interest you will manage to clear you debts in 62 years !
I am sure that the advisor knew his stuff and if allowed to continue would have provided more information, but it was edited to add confusion
Thanks BBC really helpful ... NOT, I would expect this type of valuable unhelpful advice from a local bar room expert not good old Auntie BBC.
I suppose it shows the value of this forum and the experts at its disposal.
If you are reading the forum from a distance and are in money or debt difficulties, speak to experts currently practising in the field or the CAB.
Rant over, I am sure that i was awake this morning and I am fairly certain that the article was as said, so if i have gone off too much at a tangent, i will promise to stay in bed longer for the rest of the week
regards Richard |
|
|
gettingoutofdebt
forum expert
2418 Posts |
Posted - 15 March 2010 : 18:22:34
|
I didn't see the programme but there was a mention on the radio news this morning that a report from the CCCS says that there are some people who don't have enough income to qualify for any debt solution!?!?
I know that there are people on low income who have to save up for the BR fee for several months but the report seemed to suggest that only a DMP or IVA are considered as debt solutions. Maybe the debt advisor on the BBC was from CCCS?
I have nothing against the CCCS, or any other of the free debt advisory services, but the time of thinking that declaring bankruptcy will end your financial life should be long over by now. |
 |
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 15 March 2010 : 18:47:42
|
yes I think that it was the CCCS and they did mention the same about some people not having enough income to qualify for any debt solution, thats why i started to pay attention as i could not believe what he was saying
regards Richard |
|
|
| |
Topic |
|
|
|
| bankruptcyhelp.org.uk Forum |
© bankruptcyhelp |
|
|
|
|
|
 |
|
|
|
|
|
BBC money review 06.50 Monday
