DCM Nottingham / DCM Money Solutions in administration?

pompeyfaith

This has been posted on Legal Beagles today from Rednelly an employee of ClearDebt.

Advice please.

I just found this piece on DebtDR ceasing trading on a publication called IFA online. It raises the possibility that IFAs that advised clients to open plans with DebtDr could be liable for client losses.

This raises the intriguing possibility that the 15 or so individuals who acted as franchisees to Apex / DCM might also be similarly liable. Views please?

Read more at: DCM Money Solutions - In administration - Page 4 - Legal Beagles Consumer Forum

http://www.ifaonline.co.uk/ifaonline/news/2046397/ifas-demand-clampdown-debt-industry

Grumpelstiltskin

We found 1 guy who had a franchise, so there were more. They are keeping their heads down at the moment, I wonder why?

whitecrow

Don't think anyone has posted this link from todays Telegraph

http://www.telegraph.co.uk/finance/newsbysector/supportservices/8478394/Debt-group-DCM-paid-off-just-1m-in-debts.html

more excellent publicity and well done Mike.

Shaney

Mike should be Knighted, We Salute you Sir Michael.W.Jones From Wales Oh And He's Not Coming Out To Play Because He's Been A Very Naughty Boy Lol...

mikewjones_from_wales

Good Evening Everyone,

By this time you will have worked out that we put DCM in 2 national newspapers today.

Been busy today doing even more speaking to them, and others including TV and radio. So if the DCM boys are reading this i hope you enjoyed your moment of fame because i intend to put that spotlight on your even more!!

Nicolette in asnwer to your question Yes you are a creditor of DCM you need to fill in some forms and get them back to HJS Recovery by 10th May 2011. If you have the froms no probs if not speak to Michael Hall of HJS. I have put together a spreadsheet that if you know what your original debt was (it was listed on the DCM form you filled in at the beginning), what you debt is now (you will need to speak to all your creditors) and how much you have paid them (bank statements) the spreadsheet will work out exactly how much you should claim from the administrators.

Send an email to [EMAIL="exposedcm@gmail.com"]exposedcm@gmail.com[/EMAIL] and i will email over the template to you

I actually managed to speak to Michael Hall today (yes today was that successful) explained to him it would be good if he got peoples names right, mine was ryan apparently (not even close) Apparently they were having issues with transfering file information over hence the errors in names.

I am told that we have got to send the forms back by post the the account breakdowns and its backup can be emailed over to him.

Factsheet is going well should be in a position to post later today or tomorrow morning

mikewjones_from_wales

pompeyfaith wrote: »

This has been posted on Legal Beagles today from Rednelly an employee of ClearDebt.

Very interesting.

Appears to be the advice shaney has got that he can pursue the person who referred him. Good advice.

It does give us some avenues to investigate. Yes Pompey that will be why they all got their heads down.

Did these people know what was going on?? Should they have MADE themselves aware. If they are liable for the losses would you get any realisation off them do they have the money pay you.

As i said very interesting??

mikewjones_from_wales

Hey Grumps,

reading the article, my take on it is that they are saying all these DCM "representatives" were individual franchises

is that how you read it

Grumpelstiltskin

Mike It wouldn't surprise me.

We know John Baird was in the franchise business way back, and it wouldn't surprise me if that is how DCM was run, but why are we finding it difficult to prove it?

There should be documents around, mind you I suspect the franchisees are creditors as well, if DCM didn't pay your creditors then did they pay them any money they were due?

If you think about it getting money from franchisees to take on their name, doing the dirty work for DCM, and sitting back, looks like Baird's style.

On top of that did DCM promise the franchisees a cut on any payments they got you to sign up for? If so another layer gone before any of your creditors stood a chance of seeing any money.

pompeyfaith

Financial Crime Conference by the FSA but why is the DMC sector not included in this ?

http://www.fsa.gov.uk/pages/Doing/Events/financial_crime.shtml

nicolette1979

hi there mike. Could you please help me with filling out the form i have about resolutions 1-6?? I dont know which ones i should be in favour or against as i dont really understand what its going on about. I did phone hjs recovery today and was put straight through to the main man dealing with it all. I asked if he could explain the resolutions 1-6 as i didnt really understand it. He said i had to look it all up myself,which i found rude as i needed his help.

I hope you can try to explian this to me cause i can then get it in the post.

Thankyou for your time......