Important information for debt management customers of Debt Help & Advice Ltd/First Step Finance Ltd

[AAD News Feed]

People who have a debt management plan with Debt Help & Advice Ltd should cease making payments to the company immediately, the Financial Conduct Authority (FCA) has warned.

Consumers should do the same if they have debt management plans with Primary Business Solutions Ltd and First Step Finance Ltd, who are affiliated to Debt Help & Advice Ltd. All three firms are based in Stockport.....

Click to Read more...

[PlanB]

Re: Important information for debt management customers of Debt Help & Advice Ltd/First Step Finance

One of the dreadful things about this situation is that consumers who have entered into an ATP via these DMP providers may have avoided Defaults. If they stop paying through the DMP they now risk Defaults on their CRA files.

I had a similar problem when Solace went under. I was in a DMP with them and my payments were allegedly not being passed to my creditors one of which was Santander. The rest is history . . .

[pompeyfaith]

Re: Important information for debt management customers of Debt Help & Advice Ltd/First Step Finance

As the FCA has said stop paying won't that protect them from Defaults?