Chase Saunders nightmare

Schwalki

Hi folks
Schwalki here. Long-time lurker on this website & only now, after the day I had yesterday - decided to post.

I have been in a DMP for the last six and a half years with Chase Saunders. I found out yesterday afternoon that they went into administration in June. I found this out by getting a call from another DM agency. Chase Saunders have not told their clients and it seems that everyone money - paid in good faith by us - has in fact gone to the administrators! Arggggh!

I have spent over six years building up my credit rating and paying off what once was a large debt (not down to about £8K) and this may all be at risk by their actions!

I have contacted CCCS and have asked for my latest credit score as this will tell me exactly how long they have failed to pay my debtors (gulp) but could someone help/advise on if it is a reality that my credit rating will be shot to pieces and that my debtors will want ALL the money back as the payments stopped (even though it was not my fault)

HELP!!!
With thanks,
Schwalki

Charco_2

I'm sorry, dont think I'm going to be much help for you on this one... you might be better posting it over on the Debt Free Wannabe forum.

Suffice to say you've been shoddily treated but I dont know the answers and while you might get a better response from over on the other forum, it is unlikely anyone there will know the answers either... Try to maintain your own discipline for now and make sure the money you were normally paying to your creditors is still at least set aside for them if not actually being paid to them.

Your current debt of £8k should hopefully at least be manageable for you now compared to what you were struggling with 6 years ago... stick to your guns and just keep on paying what you can afford - just coz Chase Saunders aren't there to buffer for you anymore doen't mean you should let creditors bully you if they start making high demands from you!

All I suppose you can really do for now regarding Chase Saunders is wait to see what their Administrators say... doesn't mean you have to hang around for them though, be proactive in ending your debts!

My last word on the matter is the sooner tighter controls are brought in to regulate the DMPs the better. Every bloody week you hear of a new company in the market, someone looking for a quick buck or an easy ride - collect the money, take your cut, Robert's your mammy's brother, you have a DMP Company! Any old call centre will do!

Sorry, wish i could help!

Good luck!