DCM Nottingham / DCM Money Solutions in administration?

Derbs

Hi
We worked out our figures today, we paid DCM £36000 in total and according to our balances they paid off around £15000! So we have a significant amount of money unaccounted for an we have been left with nearly as much debt 4 years later. I agree, they should be accountable for this and hopefully we will have more news from the administrators soon.

I noticed some people like us are struggling to find out where their accounts are. We contacted the companies who then told us who the debt had been passed to, we also rang round the bigger companies (Westcott, Metropolitan etc) to ask if they had anything in our names.

We are planning on arranging payment plans with them directly. Looks like it will take us another 5 years :0(

mikewjones_from_wales

Well people, been the in contact with all the papers, waiting for call backs.

Did

The Sun
The Mirror
The Express

see what mischief i can get up to tomorrow

The express did an article on DCM in February 2011

Can i suggest everyone contacts Ms Frost, if we all do it maybe we can get it into the media.

Telephone number is 02086127000 ask for "the crusader" team.

mikewjones_from_wales

Derbs wrote: »

Hi
We worked out our figures today, we paid DCM £36000 in total and according to our balances they paid off around £15000! So we have a significant amount of money unaccounted for an we have been left with nearly as much debt 4 years later. I agree, they should be accountable for this and hopefully we will have more news from the administrators soon.

I noticed some people like us are struggling to find out where their accounts are. We contacted the companies who then told us who the debt had been passed to, we also rang round the bigger companies (Westcott, Metropolitan etc) to ask if they had anything in our names.

We are planning on arranging payment plans with them directly. Looks like it will take us another 5 years :0(

Derbs im there with you by my figures i have £29,000 unacounted for. Should be in Debt by nearly £3000 but i still owe £32000.

According to some sources a director has been giving himself large sums of money, it seems like he was using our money to do this. I want to bring this to the media's attention as i find it gut wrenching that a person or persons are going to get away with this.

maggiesaes

wheelerr wrote: »

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:

I think we are all struggling with this and also wondering how we could have been so conned for so long.
I would imagine all the creditors will make the first move and as we've said we're not sure who has the debts now.
My life is on hold still after 9 years and John Baird with whom I spoke initially and who set it all up told me 5 years or they'd refund all the fees.
He was working from home I think then and there was only him but the business rapidly grew and they move offices about 3-4 times.
I'm glad I didn't take advantage of any of the other extra 'services' they kept introducing.

mikewjones_from_wales

hi guys just rang "the ferret" (its wales's answer to watchdog) they are getting the story of me and my sister who was also with DCM. Everyone ring them they want everyones stories

Number is 02920590229

Lets get it on the news

mikewjones_from_wales

hi guy just rang X-ray another "watchdog" type programme here in wales, you can call them and leave your stories with them.

Telephone number 03703334334

maggiesaes

Mike keep us posted!!

Just received an email from the receiver saying no more than we already knew.

It advises cancelling standing orders to DCM (as if we hadn't),that it is NOT their responsibility to contact creditors but the clients' (we know that too),as our files are needed we will not be getting them yet,hard copies of all client files have been obtained and they will be reviewed together with the company's data base to verify client fund balances and we will be invited to submit an unsecured claim in due course if applicable.
Their proposals will be sent to creditors when completed.

marhyki

Clear Debt now has access to the DCM database and will e-mail you a list of your creditors and reference numbers so as you can make contact with them.
I have contacted all our creditors today and on the whole have been sympathetic to our situation due to mess we have been left in by DCM
I have spoken to CCCS today and completed Debt remedy survey - well worth doing as also provides you with a financial statement to send creditors if you want to manage debts yourself.
Clear debt told me the only way forwrd for us was an IVA (they will make money if we do this) CCCS (who are a charity and make no money) have clearly told us that an IVA would not benefit us --- BEWARE ANY FEE CHARGING COMPANY!

I'm still hoping I may see some of my client account back, at least the £500 I paid on 1st March (the day before they went under!!)

dottye69

I too have been taken in and been abused by these "*******".
Jul 2004 was when i started with them and it seems like somewhere in the region of £8k has gone missing.
I was under the impression like I was about to be debt free and it now seems like I am almost back where I started nearly 7 years ago.
I am refusing to just sit back and do nothing, I want to know where my money is and I want it back.
I also am very angry with the fact that even though I have been paying them it seems like its my responsibility to ensure my creditors were being paid, this can't be true surely. I will be seeking legal advice.
Anyone got any information that could help me?

maggiesaes

Yes it does seem harsh but whenever DCM missed a payment-which was every payment every month lately,I used to get a letter or phone call from creditors or debt collectors telling me it was my responsibility.

I have managed to track my creditors down and have contacrted them all and also written to the administrator regarding any money I may get back as a creditor.

I'm wondering how we are classed as creditors,as it is actually our own money stolen isn't it.