DCM Nottingham / DCM Money Solutions in administration?

gpaul49

might be worthwhile to see whats on the credit file paul.

Mothermercury30

Hi all

Just to keep you all posted.

I spoke to the CCCS about half an hour ago; their advice was, according to the figures I gave them, and the amount I now earned, the best advice, FOR ME, was to take a deep breath and resume contractual monthly payments with the creditors. She said they were always there if we needed help, but really a DMP would probably not be the best course of action for me.

I am NOT going to Cleardebt- I can't trust again- no way.

CCCS were lovely- very helpful, very practical, and I advise ANYONE who may be considering Cleardebt- please please speak to the free ones first; I know that Cleardebt are offering the plans free of charge, but just see what's out there first. You'll be glad you did.

Ok. I'll be hitting the phone on Monday then....

maggiesaes

I didn't find PayPlan very helpful and I have now received a pack form them but won't be able to supply much of the information as I got little from DCM.

I wrote to the administrator but not heard yet-has anyone had a reply?

Derbs

Heard nothing from the administrators except for a standard letter today.

Have managed to find all of my accounts and creditors after ringing around them all for 2 days!

maggiesaes

Just had a letter from the administrators but it says little more than the notice we have already.

It gives their website address www.hjsrecovery.co.uk and they sent me a password and username but there was no further information to be seen when I logged on.

joja

Hello, I havent been on here for ages, but after finding out about the situation with DCM, I searched online and found this.

We too are victims of DCM and only found out yesterday about the situation as we had a letter from one of the DCA's telling us it had happened. We immediately phoned and spoke to Cleardebt who told us they would work out a plan and call us back. We spent hours deliberating what to do, spoke with debt free direct and even looked into selling up until we decided the best way forward was to contact all the creditors directly and try and come to an arragement.

We hammered the phones, told our tale over and over again and finally managed to get contact numbers and balances from most of the people on the list and the upshot is that we have negotiated payment plans with most of them now which are managable for us. In the most part, the creditors were reasonable and didnt try silly tactics to get money out of us. If DCM tought you anything, it was to be mindful of the tricks they play.

We stuck to our guns and have decided that we will manage our way out of it. If it becomes too much, we will seek help from CCCS or similar and we can still wait to hear what Cleardebt have to say.

We feel stupid, and have learned a very hard lesson thats cost us a fortune. Totalling things up and looking at the balances now compared to when we started with them, there is nearly £8000 unaccounted for. Someone came into our house and showed us a light at the end of the tunnel which we went with out of panic. Knowing what we know now, this would never have happened.

I have emailed the administrators and am waiting, like most of you, to see what happens.

I just wanted to share what we have done because I feel so much better for taking matters into my own hands. It's not for eveyone I know but I hope that everyone who has been affected gets sorted out soon.

The only way thing I can console myself with is that the people who did this, who took payments from us for the past 6 months when things were clearly shaky, the people who didnt meet payments with our creditors and the people who made us think everything was alright are never allowed to deal with people's money again. They should be ashamed of themselves.

Good luck everyone, fingers crossed our money finds its way back to us soon.:undecided

mikewjones_from_wales

Hi people,

Had letter today from administrators, the last two paragraphs are the most important to us all.

It is the duty of the administrators to investigate the actions of the directors. We all have money missing just different sums, i cannot account for nearly £30k. I will be writing a letter to the administrators asking some searching questions as to why im still as much in debt as i was 7 years ago when i joined, why hasnt my creditors been paid despite payments sent to DCM amongst others. I will also be printing this forum off and sending that to them as well. Certainly given someone "inside" knowledge that directors were awarding themselves large sums of money, we can only assume it was with our money.

We all need to do this. Watchdog has already been informed together with "the ferret" i urge everyone do the same.

We need to get this into the media so that the truth can come out.

Then maybe our creditors (we hope) will cut us some slack

maggiesaes

After the inital annoyance and frustration of being able to contact DCM folowed by the feeling of panic I decided to act and contacted the creditors all of whom have been helpful.
I have also contacted Cleardebt and Payplan and Immediate Finance to see how they would work and all in all it seems I shall be able to carry on making payments to the creditors with little problem but my greatest grouse is the cash paid to DCM and not paid to creditors but seemingly trousered by the directors.

wheelerr

I am at a total loss as to find out who i owe money to now, as the originals have sold on the debts, i have a recent credit reports but they only give the original companys names, assuming the reports are up to date some of them have not been paid since 2007. if that is the case I too have thousands of pounds a miss, I have paid DCM over 21,000 since 2004 and i am still in debt the original amount was for not much more.

Any ideas anyone where I should start? or should i just not chase creditors that have not chased me for years as i have had no correspondance from them at all, apart from one.

As well as the loss of huge amounts of money, is anyone else struggling with the time that this has all wasted, i had it in my head that this year I would be debt free and that my finacially restricted life would start to rebuild? CHEERS DCM.:eek::mad:

Dave763

As mentioned previously, I have paid DCM around £25,000 over 6 years. My debt of approximately £30,000 hardly seems to have come down. I have now switched to a company called Hannover Sterling - yes they charge but they seem a whole lot more legit than DCM ever were. I spoke to CCCS but they were too strict with my outgoings - H.Sterling would accept a lower monthly payment from me so I've gone with them. Long term I may go for an IVA. The main thing I want from the investigation is this. THE MONEY WE PAID DCM SHOULD BE WRITTEN OFF OUR DEBTS. THE DIRECTORS OF DCM APEX SHOULD BE THE ONES IN DEBT TO OUR CREDITORS, NOT US. IF WE SHOW EVIDENCE OF THE PAYMENTS WE MADE, WHY CAN THIS NOT BE WRITTEN OF OUR DEBTS? THAT WOULD BE JUSTICE IN MY EYES. Anyone else feel the same?