DCM Nottingham / DCM Money Solutions in administration?

fermi

Hi.

There is a long thread already running on DCM, so I'll merge this thread and question into that so that information and advice isn't missed or duplicated.

Grumpelstiltskin

David_Poultney wrote: »

I took out a contract with DCM Apex in Feb 07, since then I have paid to them the grand sum of £23,780.00 from an initial dept of £28,000.00. Obviously DCM have now gone into administration and some of my creditors are saying that they have recieved no payments since Oct 08. I have now been told that my total outstanding to my creditors is still as much as £25,000.00.

My question is, am I within my rights to approach the police and persue the directors of the company for 1. breach of contract and 2. Fraud.

I should have been almost if not entirely debt free by now and am very annoyed (not allowed to swear on here) at the situation.

has anyone else been through the same thing and what was the outcome.

regards to all

David If you read through all of this thread and hopefully Mike will be online later to advise you what you need to do.

mikewjones_from_wales

David,

Prior to going to the police the first thing you need to do is to establish the particulars with your account.

What i would do is to get a copy of your credit report, that will provide you details of your creditors and their contact details.

You will im sure have the original agreement from DCM on this will be a list of your creditors and the amounts you owed at the time you engaged them.

Contact your creditors and explain to them the DCM situation ask them what your current balances on the account are.

I would then go to your bank and get the records of the payments made to DCM.

Once you have all this information you will be able to work out actually what the difference is between what you are in debt to against where you should actually be.

If you cant work this out there is an email we are running called [EMAIL="exposedcm@gmail.com"]exposedcm@gmail.com[/EMAIL] I have put together an excel template where if you put the information into it, it will work out this information out for you. If you need help you can always shout. Im putting others together as we speak.

Once you are in possession of this information you can get in contact with the adminsitrators and cry foul using actual figures. Although I would send them an email saying there is a problem with you account.

Everyone on here a have the same issues I was £39k in debt when i joined DCM i have paid them £34.5k yet i am still in debt by £32k it basically means that nearly £26k cannot be accounted for.

DCM were not operating a DMP that met OFT guidelines, the adminsitrator is going to be producing a statement of affairs and within that document they should indicate the outcome of their investigation. Which we all on here know what it should say.

Given that i have already worked out the information i went to my police force and have made a statement running into 30 odd pages and 40 odd pieces of evidence. This is waiting with my police force until the administrators have done what they should and then they will take it to nottinghamshire. It might be worthwhile for you to go to your police force. Also contact the action fraud line as well to provide a report and it will also be investigated that way as well as a number of people have also contacted them.

We have contacted all the newspapers and an article appeared in the daily mirror a couple of weeks ago, its worth a read. We are in contact with TV radio and other papers to regarding this.

It is important for you to know that you are not alone there are loads of us and together we might get this investigated by the police and (i will be generous) if there are any issues with what they have done and it is proven in court then someone is going to jail as a result.

It is important that everyone coordinates what they are doing to maximise the media exposure getting this exposed.

I have also involved my MP i would suggest you do the same also and get you MP up to speed. Mine is going to be speaking to Vince cable business secretary with a view to getting the government to investigate them.

There is a few of us going to the media and we will be posting updates as and when they happen

backinbusiness

omg - this situation is horrific!

people paid huge sums of money in good faith and it didn't always reach their creditors - they are no further forward?

totally, completely shocking and disgusting.

well done and good luck mike

Shaney

This message was sent to me last Friday by the Administrators, obviously we are still in the dark with flat torch batteries as the Finalised Proposals to where our money went have still not appeared. We all know where our money went dont we Sherlock Jones lol.....



Shane

I was unable to get the proposals signed off yesterday (Thursday 21st April ) as hoped.

They will be posted onto the site on Tuesday ( 26th April ) and notices will be sent.

Grumpelstiltskin

Guys Have you seen this thread on the Bankruptcy forum?

https://forums.moneysavingexpert.com/discussion/3194172


Looks like more people in a very similar situation to you.

mikewjones_from_wales

****UPDATE********UPDATE********UPDATE********UPDATE****

DAILY MIRROR ARTICLE TOMORROW PEOPLE.

http://blogs.mirror.co.uk/investigations/2011/04/dcm-money-solutions-and-the-mi.html

pompeyfaith

All this does very strongly prove that there should be a regulator and not some regulator put in place by the industry as clearly that does not work the MoJ are also not doing the job when handing out Trading Licences

Has anyone contacted the FSA with a view of finding out if the new consumer regulator will be regulating and handling DMC complaints.

What you are all doing here is fantastic in trying to get answers, but this issue is two pronged in that you also need to find out what is being done to ensure that this never happens again.

Finally Well Done to mikewjones your work on this thread has been fantastic Sir!!!!

Regards

mikewjones_from_wales

just recieved letter from HJS recovery.

They are requesting that everyone puts a claim together and sends it to them.
There must be all the supporting documentation sent to them with you claim.

As part of the letter there is a claim form that needs to be filled in.

There also is a list of resolutions that need to be agreed or not agreed with.

be careful of sme of the later as it deals with how they are going to get paid.

I have one question, how are they going to be audited as otherwise they could put whatever hours they see fit!

mikewjones_from_wales

Pompeyfaith,

I have got my MP involved to deal with the regulation aspect of all of this.

If you know about the FSA angle is that something you can look into and let us know the outcome.

With regard to the previous post people if you need some help with what you need to do just scream help and one of us will help you