DCM Nottingham / DCM Money Solutions in administration?

NeutralObserver · 29 April 2011 at 1:59PM

Mike from Wales,

I apologise about the 'grudge' comment. You have every right to hold a grudge and be very angry at whats happened to you and all the other DCM / Debt Dr clients. I was trying to say that I would imagine all victims would rather be debt free first, then seek retribution second.
I think it's very nice that Cleardebt come on this forum championing the way they are 'assisting' the book of clients they have purchased from DCM - but can they not do more? They have released statistics showing that the majority of clients were less than 50% of the way through their plans - couldn't a deal be done in the circumstances whereby creditors show 'debt forgiveness' in light of what's happened - and allow the clients to pay off their debt plans at the agreed level and then write off the rest? Isn't this how an IVA works anyway? I understand the creditors will then complain that they will lose out - but come on these are extenuating circumstances. Cleardebt have already said themselves that they've had 5p in the pound accepted on IVAs - so if people were to continue to finsh their plans at the agreed level with more than 50% left to go - this would mean creditors would get more than 50p in the pound from a majority of the clients wouldn't they? And I bet 50% of most of these peoples debts is made up of interest and charges anyway. Whatever happens, I wish all the victims all the best

Shaney · 29 April 2011 at 2:16PM

Take Note - 44 months ago one of my debts started off at £1893 when i signed up with DCM, and in the period of 42 months DCM had paid a total of £27.62 yet interst was still being added so today the debt stands at £2072 i have obviously been in contact with the creditor who has been very sympathetic and reduced the debt back to £1893 and has now frozen the interest, (Result in my mind) So i thank you CapQuest

Although my 10 original debts totaled £18,915 them original debts presently stand at £19,600.52..

tonyruk · 29 April 2011 at 4:21PM

if there is nothing in the client accounts why have we to put claims in to hjs?

maggiesaes · 29 April 2011 at 5:31PM

tonyruk wrote: »

if there is nothing in the client accounts why have we to put claims in to hjs?

I think we claim for what should be in our accounts but DCM were very loathe to send statements of this and I wonder if this information has been shredded or the administrator has it.
I am fortunate in that I know that there was a balance £1400 in my account and I had requested a refund and was told a cheque had been raised.
Of course I have no paperwork to PROVE this
Needless to say the cheque never arrived and I cancelled my SO the day before they went into administartion.
Cheques they had sent to creditors during their last month trading were returned unpaid.

Shaney · 29 April 2011 at 6:31PM

I am claiming the full amount Maggie, i had paid DCM a total of £8400 and the true fact is my debts have greatly increased as seen in POST 468 and DCM have never paid out more than £393 on my debts in 42 Months, therefore they are now in breach of contract as they have not got me out of debt or anywhere close to being. Cant wait to see my Solicitor on Thursday, least i know he's not a BENT one

whitecrow · 29 April 2011 at 7:21PM

Without entering into the disagreement on details of Cleardebts actions, I would like to praise their graphics and information illustrating the plight of DCM creditors. I thought it very well presented and helpful, it has made much clearer the awful situation, particularly to those not directly involved, and will do the cause of the DCM creditors considerable good.

nexus2011 · 29 April 2011 at 7:27PM

DCM UPDATE

http://blogs.mirror.co.uk/investigations/2011/04/dcm-money-solutions-and-the-mi.html

whitecrow · 29 April 2011 at 7:35PM

For example the article referenced in the preceding post! (I was about to say 'credit where credit's due'

)

Shaney · 29 April 2011 at 7:36PM

Thanks Nexus2011 nice one, unfortunately POST 398 Beat You with your information

mikewjones_from_wales · 29 April 2011 at 7:46PM

tonyruk wrote: »

if there is nothing in the client accounts why have we to put claims in to hjs?

you put a claim into HJS just incase there is money to be split between the creditors.

If you look on the statement of affairs there is a number of "assets" (as highloghted above) that have do not have any realisation set against them, should there be any realisation against any of these then there might be some money to split

DCM Nottingham / DCM Money Solutions in administration?

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