Punching some keywords like “debt management companies in Ireland” in you search engine will display many results. You will get ample of debt management companies in this area. However, there isn’t any regulation for such credit counseling companies in this country. Hence many of these are fraudulent. Few are fake companies, while few will help you with a much higer fee than your actual debt. Some firms, for instance, will charge 15% as professional fee and will also ask for 1 month repayment amount as upfront fee. So, if your monthly minimum payment comes to €500, you will pay this €500 as upfront fee plus €75 every month (15% monthly fee).
Let’s have a look at few debt management companies in Ireland that will instantly popup on you search engine results. Maccambridgeduffy.co.uk will charge upfront fee, which would be your monthly minimum amount. However, it wouldn’t exceed £750. Later, it would be 15% per month. Similarly, Debtplan.ie will charge one month repayment amount as its initial fee, which wouldn’t be less than €500 and wouldn’t exceed €800. However, you will have to pay additional 21.5% VAT. The monthly fee is a bit lower compared to Mac Cambridge. It’s 10% plus VAT. However, the fee ranges from €25 to €70 excluding tax. Although Onedebt.ie wouldn’t charge an upfront amount, it asks for a 15% monthly fee and fees to derive a debt management plan.
Myvest.ie is a non-profit debt management company in Ireland. However, the amount of fee it charges clearly mentions the profit-oriented vision of the company. €15 is the amount of fees they charge every month, if your repayment amount is below €150. However, if it exceeds €150, the fee jumps to flat €49 for any amount. Setting up a plan would cost you the same as your initial repayment amount. Moreover, they constantly ask for donation.
No address or phone number has been mentioned by easydebtsupport.com. Debtrelief.ie, though mentions Dublin address, doesn’t provide any information on fees. Freedebtadvice.ie and Debtmanagementireland.com seems to be one company as it has same phone numbers. Debtfree.ie and Debtfreedom-direct.com doesn’t mention any fees.
Few among the above mentioned list may be fraudulent. Hence, be extremely cautious while dealing with these debt management companies in Ireland. |
