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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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I am not sure Im emailing the correct department but my question

Resolved Question:

I am not sure I'm emailing the correct department but my question is about debt management schemes
I got to the point of needing help in 2010, I went to First Step Finance in the august of 2010, I was put in to a scheme that I pay £250 per Callander month which they would pay a minimum payment off my debt then keep the rest of my monthly payment in a kitty which would accumulate over the years and when it got to enough to offer a bulk payment, they would talk to my creditors to agree a settlement figure, I have been paying this for 46 months which accumalates to £11500, the company has now ceased trading and I have been told my money has gone down with the company, which as you can imagine was news I would rather not have had to deal with, I am hoping there is something I can do, I am not expecting it all back as fees they will have charged will be deducted and hopefully the payments they have made to my creditors, I am in complete darkness as what to do next, so please help
Many thanks
Lee lillis [email protected] XXXXXXXXXXX
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.
Hello,

Sorry to hear about this.

The Financial Conduct Authority has published useful information on what you should now do, see below

http://www.fca.org.uk/news/debt-help-advice-first-step-finance-customers-stop-payments

You should also contact all your creditors who First Step Finance was dealing with and ask them how much if anything is outstanding as of now against your account/owed by you to them. You will then need to explain your position and see if they are willing to help in any way e.g. By writing off your debts or agreeing to a lesser settlement amount from you in full and final settlement.

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