CMD Finance

oldjt

Has anybody heard of a company called CMD Finance, I spoke with this company a while back and paid them £995 to write off my credit cards, I then received paperwork introducing another company called Bank Smart. There were additional terms & conditions saying that they will charge a percentage at the end of the process. I asked CMD Finance about this and they assured me that the percentage would be charged to the lender. I have since had a friend who is a solicitor look at the paperwork, the percentage will be charged to myself not the lender. What I don't understand is why I have paid this company £995, to do what? I have looked on Bank Smarts website and they work on no win no fee! Have I been had over and lost my money??? Has anybody had any dealings with this company? I don't know what to do.

Tixy

Not this company specifically but many many more like them are mentioned on this thread. "Write Off" your debt companies

Basically they cannot get your credit cards written off. Best case scenario might be that some of your cards might be deemed legally unenforceable in court but if you stop paying your creditors will still report to the credit reference agencies and basically trash your credit file for the next 6years.

Bad news is you could have checked if they were unenforceable yourself for a few quid each (a £1 postal order and a bit of postage).

More than likely you have lost your money.

KingElvis

Barely legal shysters working on the borders of the law....kiss that money goodbye I'm afraid and cut ties with these people before they dream up more charges for doing nothing.

You'd have been better off paying that grand towards your cc bills.

melo01

If you paid them your £995 using your credit card you can claim the money back from your credit card under section 75 of the credit card act. i think thats wot its called or phone the ministry of justice for more guidence thats what I did and I got my money back in the end but it took about 4mths though. but was well worth the wait.:j:j:j

Kellie_ridgewell

oldjt wrote: »

Has anybody heard of a company called CMD Finance, I spoke with this company a while back and paid them £995 to write off my credit cards, I then received paperwork introducing another company called Bank Smart. There were additional terms & conditions saying that they will charge a percentage at the end of the process. I asked CMD Finance about this and they assured me that the percentage would be charged to the lender. I have since had a friend who is a solicitor look at the paperwork, the percentage will be charged to myself not the lender. What I don't understand is why I have paid this company £995, to do what? I have looked on Bank Smarts website and they work on no win no fee! Have I been had over and lost my money??? Has anybody had any dealings with this company? I don't know what to do.

Please could you tell me if you was successful and how did you do it I paid them the same thanks:o

vanessa2556

I have also been conned by these shisters! I can't believe that I fell for it but I've been out of work for 2 years and was desperate to believe them. They are connected in some way to DCM Money Solutions Ltd in Notts also. These people are con artists. BankSmart emailed me and no transactions ever took place despite what CMD said in their correspondence.

I'm currently getting my Credit Card Company to refund the money. This is permitted under the Consumer Credit Act 1974. It'll take a few months but let them know that its Fraud and that they have now gone out of business so you've received nothing. Check Companies House for info. Also companiesintheuk have a web site at co.uk - insert your search for CMD

I'm afraid this is all you can do to get your money back. The bank of your credit card will make a request to the Merchants bank. Mine is currently in progress. Good Luck!

Grumpelstiltskin

vanessa2556 wrote: »

I have also been conned by these shisters! I can't believe that I fell for it but I've been out of work for 2 years and was desperate to believe them. They are connected in some way to DCM Money Solutions Ltd in Notts also. These people are con artists. BankSmart emailed me and no transactions ever took place despite what CMD said in their correspondence.

I'm currently getting my Credit Card Company to refund the money. This is permitted under the Consumer Credit Act 1974. It'll take a few months but let them know that its Fraud and that they have now gone out of business so you've received nothing. Check Companies House for info. Also companiesintheuk have a web site at co.uk - insert your search for CMD

I'm afraid this is all you can do to get your money back. The bank of your credit card will make a request to the Merchants bank. Mine is currently in progress. Good Luck!

Vanessa Have you seen this long thread about DCM?
https://forums.moneysavingexpert.com/discussion/3098382