Pros and cons of Debt Managment Agencies

[frostie]

@frostie
You opened this thread and have been posting elsewhere as a lead generation marketing tool.

You are declining to answer questions that cut to the heart of your business model which is to sell debt management plans.

Getting uppity when your thin marketing veneer is stripped bare contradicts your alleged transparency.

Commercial DMP's are high risk consumer products and you have done little to deal with this fundamental aspect of your business. Good at talking up what you would have people believe are the pro's you have failed to deal with questions exposing the con's.

What cons or hidden catches are you talking about? People have to pay for the service? Of course they do. That's not a secret. Can they drop out of it whenever they want, yes. Is there a binding contract, no. "your thin marketing veneer is stripped bare" very dramatic -we hide nothing, it's all on the website in plain sight!

A debt management plan is not suitable for everybody, and we tell people that, we give best advice and we don't sign people up for the hell of it. If a DMP isn't suitable, we help them in other ways, free of charge in many occasions.

The heading of this thread has also been changed since it began (not by me). It was originally a warning about DMCs who claim to be able to wipe out 90% of people's debts, which I posted, and again if you bothered reading it, you would see that.

If you don't like what we do, that's fine, but we have plenty of very happy customers who are delighted with how their debts are being professionally managed.

Apart from that, the rules on touting for business were explained to me by Brendan, but if anyone in debt needs help, and the aspersions cast by kaplan has cast any doubts about the service we offer, they can check it out for themselves and make their own mind up at www.frost.ie Your questions have turned this into a sales pitch as I have been quite rightly defending what we do, and the reputation of our company.

 

[kaplan]

Let's get a few things clear here;

As Frost Debt Solutions Ltd was set up in April this year it can't have a reputation - yet. But it maintains its relationship with lenders (which it won't name) is so established that over 90% are willing to accept its payment proposals.

It claims it's a member of the "Frost Group" which is a very small insolvency practice based in Croydon having about ten staff and a net worth of c€200k.

Whether Frost Debt Solutions is a wholly owned subsidiary of this very small British insolvency firm is unclear as the company has not responded to this question.

Nor has the company indicated if it has to be authorised by the Central Bank as a payment service provider.

And it has not provided any background on its principals or senior staff - yet it claims it provides a professional service.

 

[frostie]

Have answered all of these questions already, if you can't be bothered to read the responses previously given, that's fine.

 

[Brendan Burgess]

Folks

I think that the issue has been deal with sufficiently at this stage.

If either of you wants to write a Key Post on the topic summarising both sides of the argument, it would be a great help.

Brendan