Debt Busters

[the*scarlet*pimpernel]

ok, so there's this family member that is in a bit of strife with a balloon type payment on a car loan.

Has anyone got any opinions or firsthand knowledge of these debt buster, pay off your debt, type organisations currently advertising on the telly?

Private Messages welcomed and will be kept confidential.

[lakeland27]

  ''at beyond debt, we dont judge you we are here to help''.  people should avoid these sharks.  it is a government backed debt agreement,  avoiding the mooching middle-men (and women) is the best advice as they may ''consolidate the debt into one easy payment'' . but what's in it for them ?  they make the debt larger by including themselves ... adding charges.

[the*scarlet*pimpernel]

thats what I reckon too LL,

I looked up one on the web, and it tells you sweet FA, just has an application type, contact us now form. I checked the terms and conditions associated with filling in the form and it was a joke. Basically they could do anything they wanted with anything you wrote about them. So, if you left negative feedback, they could rewrite the lot and just leave your name at the end as another happy customer. Pffft. Not sure in the agreement referred to the debt consolidation agency or the website hosting it. The t&c referred to TV Choices. (insert confuddled smiley)

[**meep**]

I agree with Lake.  Stay away from them.   Suggest to your family member to see a  financial counsellor.

[polksaladallie]

Relationshsips Australia has a financial advice section, probably cheaper than another sort of financial advisor.

[lakeland27]

when searching i can only find brokers , i can't find a direct govt site to broker the deal without them . maybe its somewhere on one of the govt websites

[debra9275]

I also agree with LL, they are not there to help, they are there to make money out of people's bad situations

perhaps consolidating all loans into one might help?

[the*scarlet*pimpernel]

I just read some of the conditions on the Beyond Debt site. Seems like you're almost declaring bankruptcy without being bankrupt. 

He's been travelling fine for the past two or three years, but there were a few humps before that when the country was underwater, and jobs were scarce. He had been counting on the banks to give him another loan to cover the balloon payment. (it's more like an airship than a balloon) They won't 😞

[chuk_77]

as someone who was being paid by them???

I had to ring and threaten they I will cancel the service if the company didnt pay. They tried telling me I couldnt do that....ummm yeah i can

basically the whole person wage was paid to them, they delt out money where it was owed, but kept forgetting to pay us. Made me wonder who else they forgot to pay

[poddster]

Sell the car and cut the losses.

Maybe that will be a good lesson to learn.