Debt Relief Companies

Hi All,

Just wondering if anyone has ever used one of these companies.

They seem to neogieate with the banks etc on your behalf, deal with all corospondance & work out a repaymant plan, and take one standing order per month to deal with it all, one company said they take 15% p/m fee,

Does anyone know of any experiences good / bad in relation to these?

I have never heard of any of these operating in Ireland. Do you have any names of companies offering these types of service? Are they regulated in Ireland?

I have heard about these in the UK and have heard reports that the costs are very high. Also some banks refuse to talk to these guys.

Cavet emptor.

Would MABS not be a better and cheaper alternative anyway?