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

rayday2

OH look more spam than our DMC representative

rayday2

RakarthIX wrote: »

I said in my very first post that I worked in marketing for a DMC, I haven't tried to hide anything and nor am I trying to be biased, just trying to make the point both fee-charging and non-fee charging companies have a place in the market.

I am not sure its a place its more they exist and take money, like pawnbrokers, high APR credit cards in an ideal world they would not exist but while there are people who are unaware of alternatives they get business. Hopefully the popularity of this site will educate people that there are cost effective alternatives - ie free - which if you are in long term debt is the best option to get out of debt quicker which can only be achieved when you don't pay a company to do it for you.

RakarthIX

rayday2 wrote: »

I am not sure its a place its more they exist and take money, like pawnbrokers, high APR credit cards in an ideal world they would not exist but while there are people who are unaware of alternatives they get business. Hopefully the popularity of this site will educate people that there are cost effective alternatives - ie free - which if you are in long term debt is the best option to get out of debt quicker which can only be achieved when you don't pay a company to do it for you.

If free debt companies didnt exist who would those unhappy with DMCs turn to for help? If fee-charging companies didn't exist who would those unhappy with the free companies turn to?

fermi

ANY CHANCE

I've moved your question and replies to a new thread, so that they don't get entirely lost in this one.

New thread is here: CCAs and interest

Soubrette

RakarthIX wrote: »

If free debt companies didnt exist who would those unhappy with DMCs turn to for help? If fee-charging companies didn't exist who would those unhappy with the free companies turn to?

This would only be a valid observation if knowledge of the market were equal for everyone. Unfortunately due to the larger marketing campaigns of the fee based DMCs many more people are aware of them than of the free services which offer the same service and in fact can allow you pay off your debt more quickly.

You keep implying that somehow the fee based services are much more rounded in some way but that is simply not true - both services are the same but one charges (and if you are not happy with one free service then there are others you can try).

I'm with rayday - it's like the guys offering to get your unfair bank charges back for a fee when actually it is something you can deal with yourself but ignorance of the alternative gives these guys a shoe-in.

As to why CCCS in particular is funded by the industry, I suspect it is more to do with trying to persuade the government that they are responsible lenders and as such don't need more legislation to control them, in much the same way that the alcohol and gambling industries 'donate' to charities to help those with a problem.

However, it is kind of you to stick around and help people

Sou

newlywed

RakarthIX wrote: »

If free debt companies didnt exist who would those unhappy with DMCs turn to for help? If fee-charging companies didn't exist who would those unhappy with the free companies turn to?

Hopefully they'd turn to MSE and National debtline and Rayday - who has helped several people who are doing their own DMP.

rayday2

Hmm you got me thinking now my political head is on I may just email the man at the top.

You know alcohol companies who advertise on TV have to have the "drink responsibly" advice on. Well the government at the moment are looking into the IVA and payday loans and things like that I reckon they should have a "borrow responsibly" type website that people could turn to that would have that advice to avoid shark companies.

RakarthIX

The warnings in advertising is something we have already taken on board, including advice from the OFT and the FSA to ensure we are warning about things like fees, credit rating etc. As far as I am aware no one else currently does it.

The problem with trying to avoid shark companies is that the only way to do this would be a name and shame list and like I said previously bad news is always more likely to be posted than good and in the case of the larger companies there are more clients so the number of complaints may be less as a % but obviously higher as a number

rayday2

I emailed a near man at the top Martin - I know they have about borrowing being secured on houses and homes at risk but I don't think that is effective people turn off to it they need something snappier that would direct people to national debtline etc or the OFT professional bodies with genuine help.

RakarthIX

Don't forget, however that in the case of alcohol they are directing people to a site if they are having trouble moderating what they drink. What you are proposing is that DMCs should put a caveat on pointing people to a "rival company" - albeit obviously a charity.