You may have heard about Credit Fix and their services to tackle debt and help debtors become free of their creditors. Unfortunately, their debt solutions are not free, and you may have to pay monthly fees for them to help, which soon add up. But the question you will want to know is, are their debt services worth the cost?
We have weighed up the debt solutions on offer at Credit Fix to help you decide if you should use them. All the key information you need to know is right here.
Who Are Credit Fix?
Credit Fix are one of the largest debt solution and insolvency service providers in the UK with many options available for debtors in different situations. They have been providing these solutions since 2007 and already claim to have helped over 150,000 people with financial difficulty. The company is also known to do fundraising for Scottish charities.
What Debt Services Do They Offer?
Not only can they help you manage your debt solutions, but they can also give you debt advice about which debt solution would be the best for you. This is based on your unique financial situation.
They can offer you debt advice regarding the following types of debts:
- Council tax bills
- HMRC debts
- Credit card debts
- Store card, catalogue debts
- Rent arrears
- Utility bill debts
- Short-term and/or personal loans
- Gambling debts
When you first contact Credit fix about your debt problems, their team of insolvency practitioners will:
- Assess how much debt you’re in. One professional from their team will discuss your monthly income and expenditure with you. This will give them an idea of what your surplus income is each month. Next, they’ll ask you about how much debt you have as well as who you owe the debt to.
- Propose the appropriate debt solution(s). Once they have an understanding of your financial situation, they will suggest to you what the most appropriate debt solution could be for you. This will, of course, depend on your affordability, the amount of debt you have and how much you’re earning.
- Help you manage your debt solution. If you do indeed opt for a debt solution with Credit Fix, one of their insolvency practitioners will be assigned to your case. They will help you manage your debt solution from start to finish. Insolvency practitioners are experienced individuals that know all the ins-and-outs of how debt solutions work. They will ensure you are treated fairly throughout the process, will deal with creditors on your behalf and they might even be able to get a portion of your debt written off.
Credit Fix offer a whopping nine debt solutions that may work for you. You can find all of their debt services in the list below:
- Administration Order
- Debt Arrangement Scheme
- Debt Consolidation Loans
- Debt Management Plan
- Debt Relief Order (DRO)
- Debt Settlement Offers
- Trust Deed
Credit Fix’s Debt Management Plans are a popular choice for people who want an informal agreement to make monthly repayments (possibly with frozen interest rates!). They will speak with your creditor and get them to agree to repayments that you can afford so you gradually become free of debt. But beware, as these are informal there is nothing stopping your creditors from changing their mind.
What Do People Say About Credit Fix Debt Services?
Credit Fix do have a respectable rating on Trustpilot. But some of the online Credit Fix reviews suggest customers are not happy. There are even some claims that Credit Fix tried to profit from debtors during the COVID-19 pandemic:
“Creditfix fix wanted to charge £84.12 per customer for issues with regard to those disadvantage by the COVID 19 so just to break it down they wanted to PROFIT from people who were affected by Covid 19. So £84.12 x 86,000 customer = £7,234,320”
“Not really been happy with their service since my account was handed over from Knightsbridge. Seems more like a money production line than helping to fix my credit issues.”
“For months I have been stressed and worried about my finance, spoke to Creditfix and immediately felt at ease, they guided and helped me put a plan into place and I now feel a massive weight has been lifted.”
With mixed reviews, you should probably hear more about Credit Fix…
Credit Fix Frequently Asked Questions
Debtors are frequently typing questions into Google about Credit Fix. Here are the answers to some of those questions:
Is Credit Fix a legit company?
Credit Fix is 100% legitimate and are registered as a company in the UK. That means they are also regulated by UK financial bodies that monitor the practices of Credit Fix. They have to work fairly and transparently with any debtors who signed up to their services.
What does Credit Fix do?
Credit Fix is a commercial debt solutions provider. They provide debtors with a range of services to get them out of debt, helping with the one that is most suitable to the debtor’s circumstances. In return for their work, Credit Fix charge a fee or a monthly fee.
Is Credit Fix a debt charity?
No, Credit Fix is not a charity but operates commercially, i.e. they do want to make a profit out of you.
Who owns Credit Fix?
The current CEO of Credit Fix is an Irish businessman named Pearse Flynn. He is a billionaire and also owns a famous telecoms company.
What is a Credit Fix IVA?
An IVA is a legally binding agreement between you and multiple creditors to make repayments for a set period. Once that period finishes all your unpaid debt is wiped. There is no real thing called a “Credit Fix IVA” as all IVAs are the same type of debt solution. This “Credit Fix IVA” term has cropped up because Credit Fix may be able to help you to secure an IVA, and are thus known as a Credit Fix IVA.
How to contact Credit Fix?
There are lots of ways to contact Credit Fix, including:
- Online contact form
- Free phone number (provided at the end of this Credit Fix review)
- Live chat on their official website
What type of debt can Credit Fix help with?
Credit Fix help with all types of unsecured debt. This is debt that does not have any collateral attached to it, such as an asset. They can help with unpaid household utility debts, personal loans and more. They have debt solutions for people in Scotland – they are Scotland based – as well as England and Wales.
Will Credit Fix stop nuisance calls?
Not always. In theory when you agree a debt solution with your creditors through Credit Fix, they should stop calling you to pay as the agreement is in place. Some debt collection groups use automated calling software to make repeated calls. This might not stop straight away, and you may have to ask for them to stop.
Is Credit Fix guaranteed to work?
There is no guarantee that Credit Fix can get a formal agreement with your creditors. It will all depend on the amount you can repay and if your creditors believe it is also a good deal for them. If you get a formal agreement that is then legally binding, Credit Fix can get you out of debt if you stick to the repayments you agreed to.
Also note that some informal services offered by Credit Fix are not legally binding and creditors can change their mind and ask for more, such as the DMPs discussed earlier.
Should you avoid Credit Fix?
Credit Fix offer one of the widest sections of debt solutions on the market, making them suitable to lots of UK debtors. However, you may have to pay considerably to get their help, especially if you have to pay monthly fees and your agreement continues for many months or years. We recommend checking out debt charities first as they could offer suitable comparable services for free.
Credit Fix Contact Details
4 West Regent Street
0800 253 2980