Debt Management (Church Wood Financial)

Member Name: HitchJo

Product:	Church Wood Financial
Date:	14/06/09 (364 review reads)
Rating:

Advantages: Low payments polite customer service

Disadvantages: you cant get credit

We have hit a recession as we all know it is all over the news. How many of us are in financial difficulty with morgages to pay, credit card bills, cataloges and on top of that general household bills and living.

Credit card companies have been handing out plastic left right and centre to anyone who would have it, I was one of those supid ones I was a single parent at the time and out of work but money was being handed to me with what a nieve me thought wouldnt be a high pay back after 2 credit cards a store card 2 cataloges later I was up to my neck in debt.

I found the answer I was going back to work, this didnt solve alot the payments were minimum pay back and I couldnt get that balance down even though I tried for a year then I got made redundant that was it i needed help. Luckily I fell into another job immediately but accepted I was in a mess.

One day I went to work and poped on the internet in my lunch break and I came across Churchwood how to slove your debt problems in one monthly payment and intrest charges will stop. I gave them a call on my way home from work and they did a financial statement with me over the phone they worked out over 3 years I would pay £110 and the debts would be gone. They explained that after a while most creditors will make an offer to pay a bulk off and write off the rest. In the following days they sent me the written financial statement to fill in and sign and I sent it back straight away along with the statements that I had received from my creditors to show them how much I owed. They also informed me that if I received any phone calls to just tell them to contact Churchwood and simply put down the phone. I received regular phone calls from Churchwood asking if everything was going ok if my creditors were hassling me. I received regular envelopes to send back the statements that I received.

For the first 3 months the interest didnt stop going on the bills but churchwood advised me that this would happen because the creditors had to accept the terms of the agreement and that could sometime take some time. They also advised me to try and save money to be able to pay off a bulk if a creditor made an offer. After 5 months one of my creditors contacted them and offered a £300 pay off of a £700 bill but I just didnt have it which was a shame. I still received phone calls to check everything was ok and my circumstances hadnt change and they would inform me of any changes that had happend their end.

I later saw a house that I would like to buy and having a poor credit history I needed some advice so I called up the help line and spoke to my advior he was very helpful he said once most of the debts had gone down and proof of regular payments were being made there are companies that work along side them that would help me finance a morgage with a poor credit history, unfortunatly the house was built on mine shafts so full payment was needed and you would struggle to sell it would be great for renting purposes. I was also told about low cost loans that they offered if I was ever going to think about borrowing money.

Eventually all the creditor stop contacting me and I only receive a few bills now but in almost 3 years my debts have fell from £5000 to £1100. The only reason that these have not been paid off is because I met my current partner and he got made redundant his debts were at £7000 so my payments have gone up to £200 per month which we can afford with having 3 children between us and one on the way. The payments to the creditors are now lower so I wont be able to see them going down but we are trying to save to pay off the remainder of mine.

They are a really helpful company for anyone who is suffering from financial difficulty but be aware you do have to be working for them to be able to help you. They are easy to contact and you will have your own advisor who really seems to know you when you have to contact them. The fact that they make the regular phone calls to you means that you are not trying to find the money to contact them if something goes wrong.

They have really worked for me and I am sure many others if you are experiancing any difficulties I would suggest to take a look at their web site see what they are offering or give them a call they will always be happy to help you.

Summary: good for major debt problems