If you have debt collection agencies chasing you and debt piling up, some legal firms like Edwin Coe offer debt solutions that can help. There are lots of ways to get out of debt, but these debt solutions by commercial groups are not provided free of charge. We know what you’re thinking… are they worth it?
We have been busy investigating Edwin Coe and their debt services to understand if they are really worth it. Find out if they are by reading our latest review, right here.
Who Are Edwin Coe?
Edwin Coe is a law firm based in London’s infamous legal district, serving local clients and international customers since their humble beginnings back in 1913. They work on settling disputes, family legal matters and real estate purchases. But alongside these services, they offer insolvency work for businesses and individuals. Their selection of insolvency services is smaller than other debt solution companies, but they do help debtors with two types of personal debt services.
What Debt Services Do They Offer?
Edwin Coe offer two of the main debt solutions for significant debt. You can contact them to help with:
- Individual Voluntary Arrangements
- Business Insolvency and Administration
Some debtors will qualify for an Individual Voluntary Arrangement, and it could be set up by Edwin Coe professionals. You can find out if you would qualify on the Money Nerd IVA guide – and if you could write off as much as 90% of your debt!
In a nutshell, an IVA is a formal agreement that makes debtors pay back multiple creditors with a larger monthly repayment than most other debt solutions. Although you pay more, when the IVA ends all your debts are cleared even if you still owe a significant amount of money.
What Do People Say About Edwin Coe Debt Services?
There are some really frustrated customers of Edwin Coe leaving bad reviews online. Here are a couple of short ones:
“So far, so bad…”
“Never call back, ignore emails, unable to settle outstanding discretion due to massive lack of contact.
Have written in excess of 10 emails and 20+ phone calls.”
Their lack of communication will be a huge concern for any debtors considering using them.
Edwin Coe Frequently Asked Questions
Here you can find some of the frequently asked questions about Edwin Coe:
Are Edwin Coe regulated in the UK?
Yes, Edwin Coe are completely regulated as a law firm and as a company offering debt services and insolvency advice. If you have already agreed to Edwin Coe debt solutions, you can relax knowing you are dealing with a legitimate company that must adhere to industry standards.
Can Edwin Coe really help me to escape debts?
Edwin Coe only offer two formal debt services to clients. Both of these debt solutions are aimed at people with substantial debt. That means they will not be able to help with smaller debts and any debt around £1,700 or less. Moreover, as these debt services are formal legal agreements, there is no certainty that your creditors will agree to an IVA or that your bankruptcy claim will be accepted. Edwin Coe may not be the right company for your debt circumstances.
Can Edwin Coe ensure I get an IVA?
Edwin Coe cannot guarantee that your IVA application will be approved by your creditors. In fact, no commercial debt company in the UK has that ability as the creditors are not forced to accept – although many do. Edwin Coe should have the professionals who can see a claim that is likely to be accepted and not mislead you.
Is my bankruptcy application likely to be accepted with Edwin Coe?
Just as your Edwin Coe IVA is not guaranteed to be accepted, neither is an application for bankruptcy. Bankruptcy applications cost hundreds of pounds, so you want to deal with a company who believe you have a good chance of being accepted and can make a compelling case. Edwin Coe should be able to determine the outcome before you commit, but there is never a 100% guarantee.
Will Edwin Coe prevent creditors from bothering me?
When you commit to an Edwin Coe IVA, your creditors agree to the formal debt solution and therefore should not be bothering you again. However, in reality things may work out different and you could continue to get annoying debt emails, texts and calls for some time. The reason this happens is usually that the debt collection agency uses automated technology to chase debts. You might have to contact them yourself to get the debt calls to stop.
Are Edwin Coe debt solutions expensive?
Legal teams are known to be more expensive than non-legal companies when providing these types of services. You could end up paying thousands of pounds for their work. But it all depends on your specific debt situation and what service you choose.
What are the cheaper debt solution providers?
You should investigate other commercial debt services and insolvency businesses to find cheaper alternatives to Edwin Coe IVAs and bankruptcy services. Try looking at companies that are not law firms and also contact UK debt charities to see if they can assist without cost. Some of them really can help and you don’t need to pay anything!
How do I pay Edwin Coe?
If you do decide to go with Edwin Coe, you can make your payments over the phone, via bank cheque or even at a post office. There is no portal to pay online as some debt solution providers offer.
Overall thought on Edwin Coe…
The final verdict on Edwin Coe and their insolvency services is rather disappointing. Not only do they only offer two personal services (the others are for corporations), but they have some negative reviews regarding communication and may be pricier than alternatives. These guys won’t be for most debtors.
Edwin Coe Contact Details
Edwin Coe LLP
2 Stone Buildings
020 7691 4000