Updated balaces

[russell.adams]

I have looked at my account today and the outstanding debt balances are the same as they were when i set up my accoun t. could you please inform me what my updated balances are on my debts you are handling

[Cazz.Lane]

Hi Russell

Thankyou for posting on our online forum!

Ok there are a few reasons why Debt Line do not hold the most updated balances for your debts :

1) It is your creditors responsibility to keep you updated with your balances by providing statements.
2) We will update a balance if we speak to your creditors but they do not regularly provide us with this information.
3) If we give you a balance it may not be the most up to date and therefore we would be providing you with false information.

So to get an idea where your accounts stand, you can request a balance in writing from your creditors which they will have to provide under Office of Fair Trading Guidelines.

The good news Russell is that if you have been on the plan awhile and not heard anything from your creditors this means that there are arrangements in place and that you are not being charged any interest. If any charges are applied to any of your accounts then they have to provide you with regular monthly statements showing this

Hope that all makes sense Russell, and we hope to hear from you soon.

Kind regards,

Cazz

[Laura.Smith]

This is ridiculous. I need to be kept up to date on how much is owed to each creditor. I am fairly sure the regular payment you are about to make for me to Vanquis will pay of my remaining debt to them but have no way of checking.

I am sometimes confused as to what exactly it is the 'management fee' debtline takes is actually for.

[Cazz.Lane]

Hi Laura

Thankyou for posting on our forum.

As to not repeat myself, in the below response to Russell Adams you can see the 3 reasons why Debt Line do not hold the most up to date balances of your debts.

In regards to not knowing if a debt is paid off, it is actually your creditors obligation to inform you and us as soon as your account has been paid off. They are not allowed to keep cashing cheques if you do no longer owe them money!

I am so pleased to hear that we are at the finishing line with your plan and that you are almost debt-free!

And like I said to Russell, if you request a balance in writing they will have to provide this straight away. All of your creditors contact details are available under the 'My Debts' section of your online account.

I hope that as your plan is near completion that you can understand that the fee we charge each month is to have your 6 account managers on hand here for you 10 hours a day on our free phone advice line. And ofcourse, this forum wouldnt exist if that fee wasn't reinvested into the business to improve the experience for our clients and to help them manage their finances on their own two feet!

If there are any other issues that we can help with please do not hesitate to let us know so that we resolve them for you asap and continue to improve our online and offline service for our clients.

Hope to hear from you soon Laura, and enjoy the rest of your week!

Kind regards,

Cazz