Parted company with DMC what info should they provide to me?

High&Dry

Hi All,

I have finally got around to ditching my rip off Debt Management Company as I don't see any light at the end of the tunnel with them and I want to manage my debt myself now.

What Can I expect to receive from them in terms of information?

I have been with them for several years and every month the only thing I would receive is a document that told me how much they were paying to each debtor.

Can I ask them for statements on how much they have paid to the debtors and how much I now owe them? Surely they would know this otherwise would they just charge me indefinately?

I am starting the process of contacting my debtors and I think I will contact PayPlan for some advice also.

Also if they are unwilling to provide me with a financial statement, can I go to the Financial ombudsman or the FSA?

Many thanks in advance for any help offered.

High&Dry

Sorry to be a pain but is there any information that anyone can provide?

Thanks.

Tixy

Hi

I would ask them for a full breakdown of all transactions made on your behalf. In all honesty its quite likely they'll be a pain about providing it, so if you have any problems I would recommend doing a subject access request under the data protection act. It will cost you £10 but at least you will know you have all the info they have.

Its quite possibly they won't have paperwork from your creditors to know exactly what is owed and whether your creditors are still charging interest/charges etc. So it might also be worth contacting each of your creditors in writing, explaining that you will no longer be using X company and ask that they send you a statement of account. Thats the only way you'll know for sure how much you owe to each creditor.

High&Dry

Hi Tixy,

Thank you for coming to my rescue once again and providing me with some valuable help and insight. How do I go about making a Subject Access Request under the Data Protection Act? Is there a particular website I need to use?

I am in the process of writing to my debtors to get a breakdown money paid, still owed and a hopefully the latest statement. I will also inform them that I will be taking on the debt personally and offer to continue to make token payments once I work out my budget and work out what I can afford to pay.

Many thanks for your help and advice.

Tixy

Hi
There are quite a few SAR templates about but here is a link to one -
http://forums.moneysavingexpert.com/showpost.php?p=11753093&postcount=8 (might need to amend slightly as I think some of that was worded specifically for a debt collector. Also you could try http://www.ico.gov.uk/for_organisations/data_protection/subject_access_requests.aspx not sure if there may be templates there - but it shold give you an idea of what you are entitled to see etc.

High&Dry

Hi Tixy,

Thanks for both links. I appreciate the link to the template I shall amend where necessary.

Thanks also for the link to the ICO website I am sure it will contain a vast amount of information and if I need anything clarifying I guess I could always email them.

Thanks again for all your help.