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| My circumstances: |
| My partner and I got into serious debt of £about 57,000 due to lost of income and high mortgage payment. The equity on our property (market value) would have paid off our debt but because we were still within the redemtion period we could not sell our house to pat off our debts. |
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| My interaction with
the company: |
We sought financial advice from Debt Matters and they agreed to help us sort out our situation. All was well initially, although the paper work was too much. Overall they were very helpfull and kept us well informed.
However, the trouble started when we were trying to remortgage our house at the end of the redemption period for a better mortgage deal. Our suppervisor delayed in responding to the mortgage companied until it was too late ( we sign a clause that Debt Matter would be informed and confirmation would be sought from our suppervisor on any transaction on the propery. The re-mortgage offer expired due to the suppervisors delay and our mortgage monthly payment increased to £1642/ month. In November, 2007 we decided to sell the house to make a setlement payment to our creditors. Debt Matter was informed immediately, they promissed to arrange a variation meeting with the creditor to present our offer of the settlement on the 16th of November 2007 and we did every thing they asked us to do (presented all paper work, they said it would take at least 28 days. On several occassions when we contacted Debt matter to find out the progress of the arragement they kept reassuring us that our case was being prioritised and the variation meeting was being arranged. Earlier this month (March, 2008), we received a letter telling us that our case has been forwared to Payplan. I just got informed by Payplan that no variation meeting was arranged by Debt Matter and our case would have to start from the begining; it would take a "£couple of months". |
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| Why I gave the ratings I did: |
| If zero were to be in the rating I would have rated them zero, because they lied to us, they were inconsistant and they made our situation worse. If the suppervisor had responded in time to the re-mortgaging correspondance we would not have been complelled to sell our house. When we tried to rent a house in the town we lived in no agent was ready to rent a house to us due to the pending debt. We are now renting from a private landlord paying about £200 more the normal rent in the area, because we cannot go through Estate Agent. The money that is meant to settle our debt (from the sale of the house) is still with our solicitors and we are yet expected to continue paying our monthly install to Debt matter/ Payplan. |
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| One thing they did - which really
impressed me: |
| Thier ability to lie so smoothly. |
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| One thing they did - which I felt could be improved: |
| A total close-down as they are not really delivering the service they are suppose to. |
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| Other points |
| We are still looking for ways of paying our creditors; the amount is still waiting with our solicitors. We are still expected to continue paying monthly. |
