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gregory pennington

Gregory Pennington

gregory-pennington

Gregory Pennington is a Debt Management specialist. They claim to have provided debt management advice to over 100,000 people, this makes them one of the most experienced debt organisations around, and whatever your personal circumstances, they are likely to have seen it before.

There experience is not free and they do charge for their Debt Managment Plans:

Your first monthly payment is an initial fee for setting up our Payment Programme and is not paid to your creditors. This will place your accounts into arrears or further into arrears. There’s a monthly fee of 15% included as part of your affordable monthly payment (subject to a minimum of £29.50 and a maximum of £90.00).” Gregory Pennington.

Our view is free debt management is best as it allows you to repay your debts off much faster as all of your monthly repayment is goinf to your creditors.

How we can help you get out of debt

To ensure that you get the right advice, we provide free access to expert charity debt advisors who provide unbiased debt advice. This helps those in serious debt to avoid advisors who charge excessive fees or feel it is reasonable to extend the period individuals are in debt beyond what is reasonable and logical.

Find Out More About The Debt Solutions Considered

Solutions Debts Written Off Legally Binding Interests & Charges Residential Status Fees Notes
IVA Yes – Average 58% Yes Stopped Tenant or Homeowner (Eng/Wales) Yes on average around 20% of the payments you make to creditors Typically you must have debts over £15,000 and be able to offer yourcreditors about 20% of the value of the debt back over 5 years.
Debt Management No No Many Freeze Tenant or Homeowner Yes In a Debt Management Plan, you will be required to repay all of your debt in full.
Consolidation No yes New Rates & Charges Tenant or Homeowner Yes Consolidating your debts generally means you’ll pay more back over a longer period of time.
Bankruptcy yes yes Stopped Tenant or Homeowner (Eng/Wales) Yes – up to £700 depending on your circumstances. You may also be subject to a 3 year Income Payments You need to think carefully about all the affect bankruptcy will have on your home and your employment.
Debt Relief Order yes yes Stopped Tenant Yes – £90 You must have debts under £15,000 and have little in the way of assets

Other debt solutions offered include IVA’s, and Debt Consolidation Loans. But what we found most interesting is that they also offered a type of Bank Account they call ‘Think Banking’. The account is specifically designed for those with a bad credit history, as no credit check are run. Deposits are held with the Royal Bank of Scotland.

Gregory Pennington Reviews

If you have contacted or are using Gregory Pennington please write a Gregory Pennington Review and share your experience with other people who may be considering contacting them.

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 2 reviews
by Sue Burt on Blank Business Name

Please do not use this company, they charge and are unrealistic. Life i
Please do not use this company, they charge and are unrealistic. Life is hard enough when you are in debt, please only use debt advice agencies who do not charge you

I was originally with Payplan, but found that they were so overworked I
I was originally with Payplan, but found that they were so overworked I was just falling into a bigger hole, and still getting letters and telephone calls and just all round struggling with my finances. I stuck with it for over a year and then transfered to Gregory Pennington, yes there are charges but it was worth it just to have some piece of mind that someone was actually dealing with my account, managing it and sorting it out properly. I had a managed bank account with them, personal finance manager and a lot of support - especially in the first few months of getting the creditors and budget straightened out. I became this week completely debt free, and it feels soooo good and I really have to thank GP for getting me there, and ensuring that I had enough money to run my household during that time.

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