DCM Nottingham / DCM Money Solutions in administration?

maggiesaes

whiskeymac wrote: »

Itoo have been with them for many years, whenever Iquestioned letters or balances they seemed to al;ways have a plausible anawer more fool me. I now have 3 charging orders and dont know if anything has been paid am contacting creditors to see what balances now are and if they will accept payment from me direct .Dont know if makes things worse or not.
Have got about 8 creditors that have not heard anything from for years and dont know who now holds those debts where can I find out any advice?
Spke with clear debt on Monday calling me back in a couple of days to discuss my situation but as yet heard nothing, but seem quite keen on me doing an IVA as I have about 70k eqity in house suppose I will now lose my home now
Dont really know what to do or where to go feels like we are going to be hung out to dry.
Remember the dcm slogan
]
THERE IS LIGHT AT THE END OF THE TUNNEL
DIDNT REALISE IT WAS A TRAIN THOUGH !!!!!!1
Suppose only consolation is this is best diet i have ever been on lost nearly a stone in 10 days![

I found one of the biggest problems was WHERE exactly the debts were now because as you say they always had a plausible reason but the debts were being passed over and on and when I got a letter from somewhere new DCM would say that it MUST have just been passed on from xyz so just send it in but I ALWAYS rang the company first to tell them what the situation was.
Don't think DCM liked it much and it could be why they did eventually did pay some instalments however irratically.
What was annoying was that some companies were adding full interest plus a late payment fee (Barclaycard)so I was paying a management fee to DCM for making payments they didn't make and all the while the balance was increasing.

I had a letter from someone called Ann Balch last year who I understand was the general manager assuring me that everything was being sorted and there had been problems with them changing their method of payment to the bacs system-yet two weeks ago one of their cheques to a creditor bounced.

I doubt the girls on the phones knew much though.

whiskeymac_2

Just spoken with Clear Debt who where very helpful and assure me there are no charges for a DMP (for dcm clients )with them they are getting full details of all accounts by Friday so will have clearer picture of where everyone stands they seem to be helpful sending me more details of what they propose after taking financial ststement from me. Feel slightly better but still apprehensive

Mothermercury30

Whiskeymac, please be careful with Cleardebt- especially if they're offering to take things over for you. I've gone to the CCCS, and I'm speaking with them this afternoon. Just watch out- DCM took advantage of vulnerable people, and I'm not saying that Cleardebt will do the same, but I would be 100% certain what they stand for, and where the money is coming from to feed them. As I believe a Hollywood Star once said

"There's no such thing as a free lunch".

Mothermercury30

Apex Debt Counselling and Management Limited – In Administration

by Andrew Smith on March 15th, 2011

Good news for worried clients of Apex Debt Counselling & Management Limited – which recently went into administration: ClearDebt Group plc is working with the administrators, HJS Recovery, to review the situation of every active Apex client who wishes it and to offer to continue their current debt management plan (DMP) for them, free of charge.
Apex DCM clients should contact ClearDebt immediately on this dedicated number 0800 612 3318 or by emailing apexenquiries@cleardebt.co.uk for free file review. ClearDebt will ensure clients are made aware of all their options and, should a debt management plan be the most appropriate solution, ClearDebt will waive all the fees normally charged on such arrangements to ensure debts are cleared in the shortest possible time. This plan will be entirely free of charge.
Due to work we did earlier in the year (which resulted in the appearance of this article in the “Crusader” column of the Daily Express), we are aware that a number of Apex clients may be better off in a different debt solution known as an Individual Voluntary Arrangement (IVA), where all interest and charges can be frozen and a significant proportion of debts written off, usually over five years. We will be assessing Apex clients circumstances with this in mind and will advise if this appears to be most appropriate. If an Apex client chooses this route IVA fees will be chargeable but these will make no difference to the monthly payment you can afford, as long as you complete the IVA.
ClearDebt will not pressure you to accept our advice – the decision will always be yours. Our advisors are aware of the situation in which Apex DCM clients find themselves in and are available to speak to you from 8.00 am to 9.00 pm Monday to Thursday, and from 8.00 am to 5.30 pm on Friday.
Apex DCM customers who decide not to move to ClearDebt need do nothing. The consequences will be that their creditors will become aware that their plan has ceased when no more payments are received from Apex on your behalf. They will contact you and you will need to come to repayment arrangements with them individually, or choose another debt management supplier.
Should you decide to use ClearDebt and should creditors contact you direct for payment we will, of course, deal with this for you. We are here to help you towards a debt-free future.
Apex DCM customers should note that ClearDebt Group plc, or any of our member companies, agents or representatives have had absolutely nothing to do with the prior conduct of any plan held with Apex prior to 2 March 2011 and cannot advise you on any matters that took place before this date. Nor can we advise on any matters arising from the current administration of Apex however clients should note that any payments made since 3 March 2011 should be recoverable from the joint administrators, who are currently formulating proposals which will be sent to clients in due course. The administrators will not be making any payments to the creditors of debtors in Apex DCM debt management plans".

I have spoken to Cleardebt. They seem pretty genuine in that they will not be charging fees for the DMPS. When I told them that nobody is that generous, they said that, put simply, the PR that it would generate would far outweigh the costs of charging on DCM's Debt management clients. I am still speaking to CCCS this afternoon, and taking it from there. Will keep you posted.

Grumpelstiltskin

You are doing the correct thing with speking to CCCS.

If you decide to go with ClearDebt I would suggest you ask them to put in writing they are not charging any fees AND every penny you will pay them each month will go to creditors and nothing will be stopped for 'expenses' etc.

whiskeymac_2

Thanks for advice as given will be talking to CCCS and National Debt Line because at the moment who do I trust? A very expensive lesson has been learnt I dont trust anyone really

Mothermercury30

I feel exactly the same. Who's to say that Cleardebt won't do the same thing?

Once bitten, twice shy in my case, as I'm sure it is with a great many of you! I will keep people posted as to how I get on with the CCCS this afternoon.

pompeyfaith

HOLD FIRE please before anyone goes to ClearDebt speak with a truly free debt charity like cccs or payplan you cannot afford to be stung again.

I,m not saying for one moment that will be the case with cleardebt but unless you get that in writing tread carefully and cover all avenues.

And be sure to make contact with the administrators of DCM just in case you can get some money back although I would not hold out on that

pompeyfaith

This was posted by Jacqueline Cohen of ClearDebt

Hi,

I am writing on behalf of ClearDebt

We've written a blog and added some comments to help advise people on the Apex DCM situation.

We completely understand and sympathise with the emotional strain this situation must be causing people who were clients of Apex DCM.

We have requested a list of all clients’ creditors and account numbers and as soon as we have this information, we will, on request, make it available to any active Apex DCM client, even if they do not wish to speak to us about a free Debt Management Plan.

We gave the advice we did (to wait for creditors to contact the client) because we are concerned that the records kept by Apex DCM may not have some serious omissions ( we cannot be held responsible if there are any omissions or inaccuracies in the information we receive from the administrators – and all they have are Apex’s records). With that said, as a highly trusted and well respected debt solution organisation, and a member of the trade body, Debt Resolution Forum (DRF), we will do our best to provide this information to former clients of Apex DCM as quickly as we can.

For anyone wanting further information or support, our team can be reached on 0800 612 3318 or by emailing [EMAIL="apexenquiries@cleardebt.co.uk"]apexenquiries@cleardebt.co.uk[/EMAIL]

As explained, although we are a commercial debt solution company, due to the distress Apex DCM clients will be in, should they wish to enter into a Debt Management Plan with us, and should that be the most appropriate solution, we will arrange this FREE of charge and at no cost at all to the client.

Read more at: DCM Money Solutions - In administration - Page 2 - Legal Beagles Consumer Forum

Also Amethyst is asking her some useful questions that maybe of use to you.

Regards

gpaul49

was with them from 2001 also had a charging order on house
also a cheque that was sent to wrong address
from last year with seven hundred pounds on it bank returned it paul