DCM Nottingham / DCM Money Solutions in administration?

sean-o

hi all, im a bit of a newby to all this don't even know if i'm posting!! but i'm gonna give it a go!! i'm sean and with the awesome advice from mike i'm trying to get in to the 'lets give DCM a right going over' group, i just hope i'm getting there!! hints and tips welcome from all...

mikewjones_from_wales

yeah you are posted buddy and once again welcome.

Loads of people on here that can give you advice on whatever you need.

I noticed the time you posted last, hope you are keeping your chin up and all is okay.

Im sure all will be okay when you speak to people later.

Let me know how you get on. You got my number

mikewjones_from_wales

and your already in the lets give DCM a right going over group mate.

It free admission, no forms necessary lol.

Did you get the info i emailed to you, if not let me know and i will resend

mikewjones_from_wales

whitecrow wrote: »

I think you'd find that he has hardly any properties Mike. I also think you would find that close relatives have a number of properties.

can you have a dig man and let know.

Might be some more informtion for the papers

mikewjones_from_wales

TV IS COMING

Yep i have inside out coming to see me next week, also bbc nottinghamshire on same day

Interviews interviews interviews.

BBC wales is coing back with their TV date, i will let you know any further developements.

But WE ARE ON TV, first papers now TV and Radio.

So to all DCM directors whom might be reading this. IT NOT OVER YET PEOPLE WE ONLY JUST GOT STARTED!!!!!!

wildlife

Dear All,

Have read many of the threads. My Husband is in the same boat as many of you today. He has had the forms from Clear debt which arrived on Saturday, before I saw this forum. He signed the paper work to start a IVA. But I have nagged him to go to the CAB to ask for more advice on this matter. He said we have a cooling off period of 30 days before the payments will start to be collected. Maybe this way will be cheaper than dealing with the companys who is in debt to. I really don't know. Its all above my head really. I have mentioned to him many times over the past few years especially when well over 5 years had gone by. No statments. The debt folks calling asking where their monthly payments were.
My hubby would say to me its all sorted DCM were doing a good job. Burying his head in the sand and not sorting it. The debts are his. But the whole family are now very concerned.
I think going to CAB this week will help him sort things. Its done so we have to go forward.
Sorry for rambling, but I needed to get this down and out, with others in the same situation

Thankyou .
Regards Wildlife

mikewjones_from_wales

wildlife wrote: »

Dear All,

Have read many of the threads. My Husband is in the same boat as many of you today. He has had the forms from Clear debt which arrived on Saturday, before I saw this forum. He signed the paper work to start a IVA. But I have nagged him to go to the CAB to ask for more advice on this matter. He said we have a cooling off period of 30 days before the payments will start to be collected. Maybe this way will be cheaper than dealing with the companys who is in debt to. I really don't know. Its all above my head really. I have mentioned to him many times over the past few years especially when well over 5 years had gone by. No statments. The debt folks calling asking where their monthly payments were.
My hubby would say to me its all sorted DCM were doing a good job. Burying his head in the sand and not sorting it. The debts are his. But the whole family are now very concerned.
I think going to CAB this week will help him sort things. Its done so we have to go forward.
Sorry for rambling, but I needed to get this down and out, with others in the same situation

Thankyou .
Regards Wildlife

thats alright we are all here to support one another.

I would get a second opinion on what you have been told from cleardebt.

Go to CAB, CCCS.

Have you registered your claim with HJS recovery and returned the forms.

If you dont know how to work out how much you are owed i have a spreadsheet that might help you. Send an email to [EMAIL="exposedcm@gmail.com"]exposedcm@gmail.com[/EMAIL] and i will send it over.

As you can see we have got the situation we all find ourselves in, in the papers and on the internet.

As you can also see above there are some of us dealing with TV stations and programmes to get it on there also.

We are also getting our MP's to get involved and write to Mr Vince Cable secretary for business and innovation, he has the power to investigate and where necessary instigate a police investigation.

I am aware of other goings on but i cannot post it on here, but hopefully soon enough we will get to hear something.

mikewjones_from_wales

Rednelly AKA Andrew Smith of Cleardebt post this on the Cleardebt Blog.

Originally Posted by wildlife
Dear All,

Have read many of the threads. My Husband is in the same boat as many of you today. He has had the forms from Clear debt which arrived on Saturday, before I saw this forum. He signed the paper work to start a IVA. But I have nagged him to go to the CAB to ask for more advice on this matter. He said we have a cooling off period of 30 days before the payments will start to be collected. Maybe this way will be cheaper than dealing with the companys who is in debt to. I really don't know. Its all above my head really. I have mentioned to him many times over the past few years especially when well over 5 years had gone by. No statments. The debt folks calling asking where their monthly payments were.
My hubby would say to me its all sorted DCM were doing a good job. Burying his head in the sand and not sorting it. The debts are his. But the whole family are now very concerned.
I think going to CAB this week will help him sort things. Its done so we have to go forward.
Sorry for rambling, but I needed to get this down and out, with others in the same situation

Thankyou .
Regards Wildlife

mikewjones from wales then said:

thats alright we are all here to support one another.

I would get a second opinion on what you have been told from cleardebt.

Go to CAB, CCCS."

I am choosing to post a response here and hope Mike will see his way to ensuring fair play on MSE - where I'm happy to post general advice, but cannot, unfortunately, defend the position of the company I work for.

First, I absolutely endorse Mike's view that it's good to get a second opinion and that Citizen's Advice and CCCS are good places to go.

However, I'd like to say that the poster above, if an IVA has been put forward as a solution, will have been advised by someone who has the Certificate in Debt Resolution (210 hours study, three tough exams) and who has years of experience - ask your CCCS or CA advisor what qualifications they have...

I am absolutely confident that, if we have recommended an IVA, that it will be the most appropriate advice for the client. It will usually mean that a significant amount of the debt will be written off when the client completes the arrangement and, of course, all interest and charges will be frozen the moment the person goes into the IVA.

If CA or CCCS recommend debt management - you should ask why. Why should an IVA, with legal certainty and freedom from creditor action, be replaced by a scheme with no debt write-off and no certaintly of a freeze on interest/charges? There are many people for whom debt management is the right answer - but this is rarely true where an IVA is possible.

If CA recommend debt management - then, is it one of the ones where they will make distributions to the people you owe? Or is it a DIY plan, as many are, where you are reliant on making distributions yourself: These, I believe, often fail.

Free advice is not always good advice.

I doubt a Debt Relief Order (DRO) was an option in this case, as they rarely overlap with possible IVAs. But, bankruptcy might have been - and the choice between the two is often a personal one. Remember, bankruptcy is less commonly the "get out of jail free" card it used to be ( http://!!!!!!!/iO62ja ).

CCCS might offer an IVA too. But, if they do, it won't cost any more or any less than an IVA offered by ClearDebt - as we only ever charge "industry standard" or protocol compliant fees. So, there's no reason to change.

Incidentally, have you seen the reviews we get for our service on comparison site IVA.com ( http://!!!!!!!/jFh7xz ) We are proud of what we do for people.

• view -1 span
• Steven Wiseglass (Insolvency Practitioner) 18 hours ago
  I am concerned about what wildlife says about a 30 day cooling off period. When an IVA is approved there is no cooling off period payments are made 30 days after approval otherwise this could lead to default of the IVA. Owing to the length of time it takes to put an IVA together and the interaction that you should have with the person drafting the IVA this should give sufficient time to consider whether or not an IVA is right for you and decide whether or not you should be going ahead with the IVA. Once an IVA is approved by creditors there is no cooling off period you will be bound by the terms and conditions of the IVA.
  
  If Wildlife is subject to an IVA then I would suggest you get in contact with ClearDebt immediately to reassure any concerns that you may have.
  
  
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<LI class=edit_reply_row>Edit Your Reply (some HTML allowed) This was posted on Money Saving Expert.Quote:Originally Posted by wildlife Dear All,Have read many of the threads. My Husband is in the same boat as many of you today. He has had the forms from Clear debt which arrived on Saturday, before I saw this forum. He signed the paper work to start a IVA. But I have nagged him to go to the CAB to ask for more advice on this matter. He said we have a cooling off period of 30 days before the payments will start to be collected. Maybe this way will be cheaper than dealing with the companys who is in debt to. I really don't know. Its all above my head really. I have mentioned to him many times over the past few years especially when well over 5 years had gone by. No statments. The debt folks calling asking where their monthly payments were.My hubby would say to me its all sorted DCM were doing a good job. Burying his head in the sand and not sorting it. The debts are his. But the whole family are now very concerned.I think going to CAB this week will help him sort things. Its done so we have to go forward.Sorry for rambling, but I needed to get this down and out, with others in the same situationThankyou .Regards Wildlifemikewjones from wales then said:thats alright we are all here to support one another.I would get a second opinion on what you have been told from cleardebt.Go to CAB, CCCS."I am choosing to post a response here and hope Mike will see his way to ensuring fair play on MSE - where I'm happy to post general advice, but cannot, unfortunately, defend the position of the company I work for.First, I absolutely endorse Mike's view that it's good to get a second opinion and that Citizen's Advice and CCCS are good places to go.However, I'd like to say that the poster above, if an IVA has been put forward as a solution, will have been advised by someone who has the Certificate in Debt Resolution (210 hours study, three tough exams) and who has years of experience - ask your CCCS or CA advisor what qualifications they have...I am absolutely confident that, if we have recommended an IVA, that it will be the most appropriate advice for the client. It will usually mean that a significant amount of the debt will be written off when the client completes the arrangement and, of course, all interest and charges will be frozen the moment the person goes into the IVA.If CA or CCCS recommend debt management - you should ask why. Why should an IVA, with legal certainty and freedom from creditor action, be replaced by a scheme with no debt write-off and no certaintly of a freeze on interest/charges? There are many people for whom debt management is the right answer - but this is rarely true where an IVA is possible.If CA recommend debt management - then, is it one of the ones where they will make distributions to the people you owe? Or is it a DIY plan, as many are, where you are reliant on making distributions yourself: These, I believe, often fail.Free advice is not always good advice.I doubt a Debt Relief Order (DRO) was an option in this case, as they rarely overlap with possible IVAs. But, bankruptcy might have been - and the choice between the two is often a personal one. Remember, bankruptcy is less commonly the "get out of jail free" card it used to be ( http://!!!!!!!/iO62ja ).CCCS might offer an IVA too. But, if they do, it won't cost any more or any less than an IVA offered by ClearDebt - as we only ever charge "industry standard" or protocol compliant fees. So, there's no reason to change. Incidentally, have you seen the reviews we get for our service on comparison site IVA.com ( http://!!!!!!!/jFh7xz ) We are proud of what we do for people.

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Andrew Smith (Official Rep) 18 hours ago
Thanks Steven: This is absolutely right.

If Wildfire's IVA has passed the creditors' meeting stage, then there is no cooling off period.

However if it has not yet reached the point of being put to creditors and the client wishes to withdraw, that's fine and there won't, I believe, be any charge.

I understand a few former DCM IVAs have gone through - but most are still being drafted. However, there are several stages of both documentatiin and advice to go through before a creditor's meeting is set - so any client should be fully aware of their rights and responsibilities and the impact of their IVA proposal.
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<LI class=edit_reply_row>Edit Your Reply (some HTML allowed) Thanks Steven: This is absolutely right. If Wildfire's IVA has passed the creditors' meeting stage, then there is no cooling off period. However if it has not yet reached the point of being put to creditors and the client wishes to withdraw, that's fine and there won't, I believe, be any charge.I understand a few former DCM IVAs have gone through - but most are still being drafted. However, there are several stages of both documentatiin and advice to go through before a creditor's meeting is set - so any client should be fully aware of their rights and responsibilities and the impact of their IVA proposal.

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mikeJ less than a minute ago
Right Guys,

firstly i suggested CAB and CCCS as there are free and have nothing to gain.

I could have suggested the firm that i went with but i not going to do that.

Your interests are cleardebt and its commercial gain in that i understand that but i dont have any interests other than bring DCM directors to the justice they deserved.

You say go to your reviews, i would say to people NEVER NEVER NEVER make that mistake, i check DCM's out and they came out all okay.

"Free advice is not always good advice", but it is impartial boys as you said above your only going to defend the company you work for. So you have a vested interest.

And as for talking to "cleardebt with any concerns" you forget many did that with DCM and look where that got them.

You have to understand here people that there is a saying "one biten twice shy"
The only way you can get an impartial view is if you go to someone whom is impartial.

mikewjones_from_wales

Rednelly AKA Andrew Smith of Cleardebt,

Might i suggest that PRIOR to you cut and pasteing people's comments on here onto your blog you ask them first.

Have no problem with mine im fair game but others may not

if they wanted them posted on there they would have done so of their own free will.

NeutralObserver

Keep up the good work Mike. Looks like Cleardebt have already flogged a few IVAs which will wipe out the measily 10K they paid for the DCM data. Incidently - if Cleardebt had paid nearer to what that data was worth (I've heard DMC's will pay up to 12times the monthly admin fee for live DM cases) then wouldn't there be more in the pot to distribute to DCM victims? I mean, I know they bought data rather than live cases but 1036 DM clients must have been worth at least £100,000 in my reckoning. Why did the administrators sell it so cheap?