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Thread: Dire Straits

  1. #11
    Diamond Member wynn's Avatar
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    Perhaps the debt they have is on credit cards?
    The interest charged for overdue payment on credit cards is horrendous!
    If this is the case negotiate a personal loan at an affordable interest rate and cut the credit cards up.
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  2. #12
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    Which banks are the loans with?

    And in what form? (Personal loan, credit card, overdraft etc?)

  3. #13
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    Hi All

    Thanks for taking the time to respond

    Sorry for the lack of response on my part, I am still In the process of trying to communicate
    with them and establish the exact type of transactions, how many of them, who to, interest, and
    actual totals owed.

    If I am not mistaken all of or most of the finances are in the hands of a company that is
    supposed to apportion the payments to the relevant organizations who are owed, this is
    a problem as far as I can see as I'm sure that this company obviously require payment for
    their services and I'm sure that comes out first and then whatever is left is apportioned to
    the relevant organizations. I hope to establish all this soon.

    I have no idea as to what form of transaction was used to obtain the finances but I am pretty
    sure it is with several banks…….I have no idea up to now as how they managed it.?

    I am at a loss to be honest how anyone can obtain finances from any institute including banks,
    loan companies or any other way when they have no assets of any kind or without a a credit check.

    (am I so naive)?

    Regards

  4. #14
    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by rozzer View Post
    If I am not mistaken all of or most of the finances are in the hands of a company that is
    supposed to apportion the payments to the relevant organizations who are owed,
    That sounds like it may be a Payment Distribution Agency, which means they might be under debt administration already.

    Quote Originally Posted by rozzer View Post
    this is a problem as far as I can see as I'm sure that this company obviously require payment for
    their services and I'm sure that comes out first and then whatever is left is apportioned to the relevant organizations.
    This is why I have my reservations about just how effective debt administration might be as a solution.

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