www.iva.co.uk

Ok, this one isn't for me this time. My housemate is looking to organise his debt into one lump sum, and Astute finance have offered to help him. But it's only three debts he has, and they only add up to a measly £3k (oh to have such little debt, eh?!?). Plus, they're asking him to sign a payment agreement, starting on 1st June, for a monthtly payment of £100.

Now, here's where it gets even more dubious, they say the first two month's payment are a 'set up' fee. What the hell?

So, are these guys legit? Shouldn't my housemate just get a consolidation loan?

Why doesn't he just try to come to separate arrangements with the creditors directly? How much does he feel he can afford to pay on a monthly basis?

Personally, I wouldn't pay anyone to sort out what is a relatively small debt.

I agree with Melanie.