DCM Nottingham / DCM Money Solutions in administration?

mikewjones_from_wales

on a more serious note people

daily mirror working on an article as we speak, might be in tomorrows.

i will confirm when i know.

seeing mp in a couple of hours will let you know the outcome ok people

mikewjones_from_wales

right back to business people

just back from the mp office, this is what is happening

1. a letter is being sent to vince cable the business secretary regarding the regulation or lack of it with this company and why they were even allowed to trade given their history. Also looking at why individuals were directors whilst they were going through bankruptcy.
2. a letter is going to police to get this investigated, he is going to get gwent police to get in contact with nottinghamshire. He is also going to speak to the serious fraud squad. He is going to get them to not only look into the dealings of the company but that of the individuals running it.

He wants to be kept updated regarding news items (anywhere in the country) so if there are any articles in you areas please send me the links so i can forward it onto him.

Shaney

Check it out peoples, Geeeeeeeeeeeeeeeeeeeeeeeez....

http://www.cleardebt.co.uk/blog/dcm-money-solutions-and-apex-clients-update_31322

Grumpelstiltskin

Mmmm

'A significant minority of clients were paying a lot less than we’d need to require in order to put forward a DMP that complied with CCCS spending guidelines. Others were making payments that, realistically, they couldn’t afford and we’ve had to recommend bankruptcy, debt relief orders or even the token payment scheme through the CCCS to them.'

So they are saying it looks like DCM plucked figures out of the air and didn't use a set formula to work out what payments should be.

They go on to mention IVAs. They will make money from them, certain, so as IVAs are only suitable for a small minority of people will they be 100% above board when they advise an IVA?

Shaney

Has anyone seen this ????

http://www.dailyexpress.co.uk/posts/view/223544/Debt-plan-that-didn-t-pay-off/

Grumpelstiltskin

Shaney wrote: »

Has anyone seen this ????

http://www.dailyexpress.co.uk/posts/view/223544/Debt-plan-that-didn-t-pay-off/

That was back in February. Has anyone been in touch with the Express to update them on DCM?

Shaney

Please see following, its an email i revieved this afternoon from the OFT, i have just replied back to them as i dont find what they say as being acceptable....They were given enough information, yet could quite easily have taken the time to look themselves...Sorry if anyone feels that i'm being a little harsh..

Consumer Credit Act 1974 (the Act)
Complaint Against: DCM MONEY SOLUTIONS

Thank you for your email received on 31 March 2011 concerning the problems you have been experiencing with a trader.

Under the Consumer Credit Act 1974 (‘the Act’), if a business wishes to be involved in activities relating to consumer credit or hire, including debt collection, they must have a consumer credit licence. The Office of Fair Trading (OFT) has duty to enforce the Act, including a duty to monitor the fitness of all traders that hold a consumer credit licence.

Upon checking the information provided in your email, it is not apparent whether this trader (DCM MONEY SOLUTIONS) holds a consumer credit licence. Without further details to identify this trader the OFT is unable to consider your complaint for further action under the Act.

I would therefore be grateful if you could provide further details about the trader including details of the practices carried out by the trader that you find unfair, giving specific details of any telephone conversations you may have had with the trader. It would also be helpful if you could include copies of any documents you have sent and received in relation to this matter.

I should mention that the OFT has no authority to become involved in individual disputes between consumers and traders so we are unable to advise or help you with any problems you may be having with the trader. Should you require specialist, face-to-face assistance, or intervention, you may wish to seek legal advice either through a local Citizens' Advice Bureau or directly from a legal adviser.

Thank you once again for taking the time to write to us.


Yours sincerely


Olushola Egbowon
Enquiries and Reporting Centre
Office of Fair Trading

maggiesaes

Shaney wrote: »

Please see following, its an email i revieved this afternoon from the OFT, i have just replied back to them as i dont find what they say as being acceptable....They were given enough information, yet could quite easily have taken the time to look themselves...Sorry if anyone feels that i'm being a little harsh..

Consumer Credit Act 1974 (the Act)
Complaint Against: DCM MONEY SOLUTIONS

Thank you for your email received on 31 March 2011 concerning the problems you have been experiencing with a trader.

Under the Consumer Credit Act 1974 (‘the Act’), if a business wishes to be involved in activities relating to consumer credit or hire, including debt collection, they must have a consumer credit licence. The Office of Fair Trading (OFT) has duty to enforce the Act, including a duty to monitor the fitness of all traders that hold a consumer credit licence.

Upon checking the information provided in your email, it is not apparent whether this trader (DCM MONEY SOLUTIONS) holds a consumer credit licence. Without further details to identify this trader the OFT is unable to consider your complaint for further action under the Act.

I would therefore be grateful if you could provide further details about the trader including details of the practices carried out by the trader that you find unfair, giving specific details of any telephone conversations you may have had with the trader. It would also be helpful if you could include copies of any documents you have sent and received in relation to this matter.

I should mention that the OFT has no authority to become involved in individual disputes between consumers and traders so we are unable to advise or help you with any problems you may be having with the trader. Should you require specialist, face-to-face assistance, or intervention, you may wish to seek legal advice either through a local Citizens' Advice Bureau or directly from a legal adviser.

Thank you once again for taking the time to write to us.


Yours sincerely


Olushola Egbowon
Enquiries and Reporting Centre
Office of Fair Trading

Not a lot of help Shaney and I have to say I'm not surprised,I've never got much joy from them.

fermi

Shaney wrote: »

Please see following, its an email i revieved this afternoon from the OFT, i have just replied back to them as i dont find what they say as being acceptable....They were given enough information, yet could quite easily have taken the time to look themselves...Sorry if anyone feels that i'm being a little harsh..

Quite correct.

The OFT issues and has an online database of Consumer Credit License registrations.

I find it completely absurd that they couldn't check.

I posted the license details for DCM at the beginning of this thread, which came from a search via the OFT website that took all of 30s or so.

Repeating said search on the OFT site shows it is still there and easy to find.

wheelerr

mikewjones_from_wales wrote: »

shane here one for you

Hi

I have been watching the forum, i have reported it to action fraud, who advised me to aso logg with local police, which i will, they also stressed that they want as many people as possible to report it too, which will bring the case to investigation quicker.

When you met with your MP did you discuss that it should be discuss with the goverment that large organisations like the credit card and loan companies should also take some of the responsibility when also dealing with debt managemnt companies. I still feel that they should take on some of this debt. They are quite happy to bail out Portugal, when they could help us for a lot less. so much for "charity begins at home"!