Just had DMC ringing me telling me NOT to go with CCCS.....

SouthernSoftie

Well the debt management company who rang me last week have rung again to say why it is never a good idea to go with CCCS.

They said, again, that CCCS have had their charity status removed as were being funded by the credit companies and so had a conflict of interest.
I did tell him I had told CCCS that and they wanted to know who was saying that.

They said that CCCS will only work for about 6 to 12 months and after that they will let the credit companies start charging me again as they will have given me a breather.

They have said that CCCS will 'hound' you to 'squeeze every penny out of you they can, not enabling you to live comfortably'.

Thay asked if I realised that CCCS made over £2 million last year, and where did I think that came from? That CCCS were set up by my creditors, the government so there is a conflict of interest.

He wasn't happy though. Surprise surprise.

newlywed

Well I'm 14 months into my plan with CCCS and not being charged interest yet.

I haven't had anyone at CCCS suggest I "squeeze every penny out" for them. In fact when I had issues with car costs they reduced my debt payment for the month and sorted it all out for me so that it was a huge relief. In fact, it has always been the creditors who demand more money and don't seem to care whether you have travel money to get to work or not.

I have checked my account balances and every penny I pay goes to my debts each month - no fees are taken.

If CCCS make any money, surely it's from the fact they hold your DMP payment between the 1st and 25th of the month (ie you pay them on 1st, they pay your debtors on 25th). So they get the interest - a minor thing in my view considering all that they have helped me with.

hypno06

I hope you told him to take a hike.........

I am not on a DMP so am not completely up to date with charitable status or otherwise, but what I WOULD say, is that many many people on here are very happy with the way that CCCS have helped them out, recently and over a number of years.........they are proven to be of assistance.

Can the other DMC honestly say the same thing

SouthernSoftie

He told me that I could go back to them if CCCS didn't work out. Fair enough, but I'm still not falling for it.

Tbh I actually thought £2million profit must be a tiny tiny % of the debt they help people with, so yes probably from holding the payment.

I did say to him, well its actually not MY money they are taking unlike what DMCs do.

Anyway, I have so many of these companies calling me at the mo, I'm glad I can now say 'I'm dealing with CCCS'.

rubydoiwannabee

newlywed wrote: »

Well I'm 14 months into my plan with CCCS and not being charged interest yet.

I haven't had anyone at CCCS suggest I "squeeze every penny out" for them. In fact when I had issues with car costs they reduced my debt payment for the month and sorted it all out for me so that it was a huge relief. In fact, it has always been the creditors who demand more money and don't seem to care whether you have travel money to get to work or not.

I have checked my account balances and every penny I pay goes to my debts each month - no fees are taken.

If CCCS make any money, surely it's from the fact they hold your DMP payment between the 1st and 25th of the month (ie you pay them on 1st, they pay your debtors on 25th). So they get the interest - a minor thing in my view considering all that they have helped me with.

Hi Newlywed
Look at all your stars!!! in one month.
How are you?

I was feeling chuffed that I had finally got two stars, obviously have some serious catching up to do!!

:rotfl: :rotfl:

hypno06

Newlywed has been posting since June 2006 not June 2008!!!!!

newlywed

hypno06 wrote: »

Newlywed has been posting since June 2006 not June 2008!!!!!

Thanks - you took the words outta my mouth Not really newlywed anymore, but wasn't fully thinking how long I'd be here when I signed up

*MF*

Extracts from the Charity Commission website for CCCS:

Financial Year Start Financial Year End Gross Income Total Expenditure

01 Jan 2001 31 Dec 2001 .................. £4,749,466 ... £4,194,746

01 Jan 2002 31 Dec 2002 ...................£6,947,242 ....£5,312,036

01 Jan 2003 31 Dec 2003 ...................£7,642,462 ....£6,723,471

01 Jan 2004 31 Dec 2004 ..................£8,953,532 .....£8,346,396

01 Jan 2005 31 Dec 2005 ..................£11,180,914 ...£10,269,200

01 Jan 2006 31 Dec 2006 ..................£15,453,552 .. £15,366,717

Extracted from here (includes more details)


http://www.charity-commission.gov.uk/registeredcharities/showcharity.asp?remchar=&chyno=1016630

As a charity, what would we want, income exceeding expenditure so that it can continue its work particularly now, or expenditure exceeding its income so that it has to close? I know my answer.

SouthernSoftie

*MF* wrote: »

Extracts from the Charity Commission website for CCCS:

Financial Year Start Financial Year End Gross Income Total Expenditure

01 Jan 2001 31 Dec 2001 .................. £4,749,466 ... £4,194,746

01 Jan 2002 31 Dec 2002 ...................£6,947,242 ....£5,312,036

01 Jan 2003 31 Dec 2003 ...................£7,642,462 ....£6,723,471

01 Jan 2004 31 Dec 2004 ..................£8,953,532 .....£8,346,396

01 Jan 2005 31 Dec 2005 ..................£11,180,914 ...£10,269,200

01 Jan 2006 31 Dec 2006 ..................£15,453,552 .. £15,366,717

Extracted from here (includes more details)


http://www.charity-commission.gov.uk/registeredcharities/showcharity.asp?remchar=&chyno=1016630

As a charity, what would we want, income exceeding expenditure so that it can continue its work particularly now, or expenditure exceeding its income so that it has to close? I know my answer.

The seller from the DMC, I have his personal e-mail, I may well send him that link!;)

*MF*

SouthernSoftie wrote: »

The seller from the DMC, I have his personal e-mail, I may well send him that link!;)

Just two thoughts in passing ...

1) If ever you wanted a picture of how the debt mountain grew, and the size of the problems now faced, it can be seen in those figures, and I bet the figures for 2007 and 2008 when published will reveal even more.

2) Just wonder if your DMC contact would be as willing to let you have sight of his annual accounts, am I just too cynical in believing "maybe not"? :A

rubydoiwannabee

newlywed wrote: »

Thanks - you took the words outta my mouth Not really newlywed anymore, but wasn't fully thinking how long I'd be here when I signed up

Oh GOD!!!!
Sorry, sorry, not with it today.....:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: