Mis sold Debt Plan???

Karen259jovi

Four years ago I took out an agreement with a 'Money Solutions' company, stating that I would be debt free in 60 months, due to end in June 2008. This month they have written to me telling me that this is no longer possible as they are unable to settle the debts and that I will have to continue paying for a further 62 months - can they do this? Please can anyone help or advise me? Thanks

onamission_2

talk to payplan or cccs as they will help you for free.
wrt money solutions you may be able to pursue them for a missold iva. I'm sure the real knowledge folk will be along in a bit.

Donedoingdebt

Firstly was it a DMP or IVA that was arranged with this company as there are different rules regarding both.

Karen259jovi

Think its a DMP (am doing this on behalf of my sister). Its called the 'Good Sixty' plan through DCM Money Solutions. They agreed a payment of £100 a month, part goes to creditors, part in a 'pot'. After sixty months whatever is in the pot is used to pay off creditors and end the debt. ??/

sashacat

why not g oto the citizens advice bureau locally and take the debt agreement with you. I am sure they will be able to interpret the small print and tell you if you have a misselling case.

ally1d

i`m in same plan with dcm apex and recieved same `cant finish paying debts in 6 months` after much swearing at piece of paper i called them, they offered me my fee of £851 back which i accepted and am going to contact creditors myself as well as speaking to cccs and citizens advice bureau to see if i was mis sold the plan, as i read it it says if i pay the monthly fee each month `I WILL BE DEBT FREE IN 60 MONTHS` i see this as a lie?? and will be speaking to law firm i work for this week will let you know what happens

apples101

i think that martin might want to look into this as i bet there are hundereds of people involved!!!