Gregory Pennington

[James 8008]

I have a number of credit cards and an unsecured loan, all on pretty high APR. I was looking for an unsecured loan at a lower APR to claer all of them into one monthly payment. I called a number of companies but was turned down as I am not a homeowner. I have been contacted by a company called Gregory Pennington who are offering to manage my repayments and tell me that I will pay less every month as a result. Is this correct? I have never heard of this company and am not sure whether to go ahead. Has anyone dealt with Gregory Pennington?

[Pippa68]

I have..& wouldn't bother again! they took over my husbands debts prior to bankruptcy.

To be honest I can't remember how much he paid them each month (it was a good few years ago) but very little was paid towards the debts..the bigger chunk was their admin fee. One of the debts was around �500 + and GP were paying them �2 per month.

I would definately shop around a bit more!

[trulli]

I presume they are trying to get you on a debt management plan? If so there are plenty who do this service for free (cab, cccs, national debtline etc).

It is never a good idea to get credit to solve debt. But that's just my opinion.

[trulli]

As an afterthought I wouldn't touch gregory pennington with a barge pole.