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

RakarthIX

I am not defending the DMC industry itself, there is more rotten in it than there is good. All I am saying is that deflamatory comments shouldn't be aimed at fee-paying DMCs as that is like aiming abuse at the whole of the furniture industry (to pick a random industry), it is just making sweeping generalisations based on bad experiences with certain companies.

As a point regarding independent advice, most of our leads come with the client having already ticked a box saying they are looking for debt management so we don't try and manipulate them into it. We have a fairly wide product range that covers considerably more than Debt Management Plans, so we don't need to try and force everyone on to a DMP.

Soubrette

RakarthIX wrote: »

If people haven't heard of the C.C.C.S. or payplan by now then they must be walking through life with blinkers on. Any article printed on the net or spoken about on TV/Radio will always mention at least one if not both. Also yes people know of fee-charging DMCs, however it is kind of like saying you know about restaurants. They come in a pretty wide variety of skill levels, size etc. Not all of whom advertise extensively; many rely on the internet search engines to generate potential customers

I'm sorry Rakarth but this all seems like evasive sales talk to me I understand that must be frustrating to you if that is not your intention but all I want to know is if you believe there is a true level playing ground for both fee based and free debt advice services when it comes to consumer knowledge of the products and services that are available. You seem to be saying that yes there is with the comment about wearing blinkers but then you seem to be saying that no there isn't for all DMCs as some of them don't have a TV advertising budget. So it seems to me as if you are saying that everyone knows there is a free option (although posts on this very board dispute this) and in fact it is some DMCs who are disadvantaged through lack of market knowledge.

RakarthIX wrote: »

I have already covered this point several times in previous posts and don't want to have to keep repeating myself.

No, people with weak arguments often don't!!

RakarthIX wrote: »

Isn't this the same point as the one above?

No, I don't believe I made myself very clear:o In one point I was talking about knowledge of the market ie what are the options available for consumers in this case fee based or free advice. In the other I was talking about the actual service offered by the two options.

I also feel that there is little point continuing the discussion as any comments or even examples of poor advice given by a DMC is sloughed off by you as you are not commenting on the DMC industry as a whole and in fact you yourself don't seem too enamoured by most of it, which means you can merely say that those are the 'sharks' of the industry and the good companies certainly wouldn't do that.

What I was hoping for was a clear argument as to why it is ever advantageous to use a fee based service when a free one is available.

Thank you for your time though

Sou

rayday2

RakarthIX wrote: »

I am not defending the DMC industry itself, there is more rotten in it than there is good. All I am saying is that deflamatory comments shouldn't be aimed at fee-paying DMCs as that is like aiming abuse at the whole of the furniture industry (to pick a random industry), it is just making sweeping generalisations based on bad experiences with certain companies.

As a point regarding independent advice, most of our leads come with the client having already ticked a box saying they are looking for debt management so we don't try and manipulate them into it. We have a fairly wide product range that covers considerably more than Debt Management Plans, so we don't need to try and force everyone on to a DMP.

So you call people, you use the words leads, leads you get in the sales industry - I think you have said it all.

You are a sales company not an information company and I have zero respect. Maybe you should carry on with your "leads" because you are doing nothing to improve the reputation of a fee charging debt management company.

RakarthIX

So you call people, you use the words leads, leads you get in the sales industry - I think you have said it all.

You are a sales company not an information company and I have zero respect. Maybe you should carry on with your "leads" because you are doing nothing to improve the reputation of a fee charging debt management company.

We do not cold call anyone. Our advisors work on an inbound phone system. The only outbound calls we make are when some one has asked us to give them a call back. I think you are confusing DMCs with financial call centres. DMCs administer DM/IVA plans as a rule, whereas the financial call centres (someone mentioned a welsh one earlier, who I know of) are the ones ringing people up telling them it isn't a sales call and that they are just trying to provide information. They have nothing to do with DMCs and are a completely separate sales based industry.

The term lead is describing it as it is, someone fills in a form online, which then gets emailed to us - a lead (had I have called them clients or customers you would have called that sales too). Of course we are a sales company, we wouldn't be in business too long if all we did was hand out free information all day long. However just because we need to turn a profit doesn't make us bad people, nor does it stop us being ethical in the way we treat customers/clients/leads/people looking for help. We are fully compliant with FSA and OFT compliance, which is actually stricter than the regulations surrounding the free DMCs. DMCs don't have to comply with FSA, however we chose to in order to put across the fact that we work ethically and are happy for them to scrutinise our every move.

tyllwyd

About the CCCS - I can't help wondering what will happen in the future if things continue as they are. If the credit card & loan companies find that their profits are going down because they are having to write off more and more bad debt, and those debtors are going to CCCS/PayPlan for advice, where is the money going to come from to fund the extra resources needed?

RakarthIX

tyllwyd wrote: »

About the CCCS - I can't help wondering what will happen in the future if things continue as they are. If the credit card & loan companies find that their profits are going down because they are having to write off more and more bad debt, and those debtors are going to CCCS/PayPlan for advice, where is the money going to come from to fund the extra resources needed?

As all funding comes from the creditors themselves, there could potentially be a point where the creditors say enough is enough, in which case the C.C.C.S. would be left with two choices; turn people away or carry on taking on new cases and overstretch to the point where service drops. Either situation could potentially be extremely worrying.

MrsTinks

I doubt it would ever get to that but certainly it's a point - should such a time come I will be the first to petition for extra funding for the debt charities either from national lottery funding or direct from the goverment.
RakarthIX - I'd love to see you prove that the regulations are tougher for you guys than say CCCS... I'm waiting with baited breath for you to back that statement up!
I have to say that unless you are wishing to offer free advice on here then I doubt you'll find very many people very sympathetic or even very welcoming...
The name of the site is "money saving expert" - so why pay for 2nd rate advice when we can tell you where to get 1st class advice for free
Never gonna work on here but best of luck in business and no offence but I think we'll carry on trying to educate people to not use the rip off companies out there and instead the free and very knowledgable services available

RakarthIX

I have already given someone some advice about credit card charges and am more than happy to help anyone with a question.

The regulation thing is pretty simple, the Debt Management Guidelines 1999 were brought in by the OFT aimed at the fee-charging companies (prior to this no regulation). They are guidelines not laws, however failure to abide by the guidelines could result in losing your credit license. The FSA aspect is purely voluntary on our behalf as debt management doesn't fall under the canopy of the FSA. We chose to become FSA regulated as I said previously to allow a much more open, transparent and ethical approach to business.

MrsTinks

Yes but you say that you are far more stricktly governed than say CCCS as a charity... I'm disputing that. You haven't proven to me how or why you would be more strictly policed or whatever you wanna call it...

The_Swerve

mmm...been 'lurking' around these parts for a while, some great stuff dotted around the place , some great advice for everyone.

But, this thread kinda inspired me to register.

I know 3 people who have had dealings with CCCS, 2 as people getting help, one used to work there (I think it was in Leeds)

Friend 1: great experience with them
Friend 2: not so great
Aquaintance 3: maybe had a bit of a grudge or something, but I didnt get the impression it was all sweetness when it came to dealing with some of their 'clients'...especially if they complained about something.

Anyway, that info was gained through a friend of a friend, and so who knows.

Keep up the good work ladies/fellas