Debt management - advice

sourcrates

playlister82 wrote: »

Thanks, so we can just stop paying them and tell them where to get off? We don't need to pay any further fees or charges?

They've clearly made it sound like she has to pay them £500 a month and got her worried, it's sickening really and I do intend to complain.

No you can cancel it straight away, don't listen to anything they may tell you, get rid of the parasites, do it in writing.

I hope you do complain about them, I really do, these type of companies make my blood boil !!!

Once payment stops, the owner of the debt, who we assume to be Natwest, will be in touch with her, just write and tell them you are seeking help with your debts and will be in touch in due course.
At the same time do the CCA request.

Your next step will depend on the outcome of that !!

Any help you need, please don't hesitate to ask me !!

playlister82

OK, so to be clear on next steps, we're:

- writing to Money Plus to let them know we will no longer be paying them as we no longer require their services
- sending a CCA request to Money Plus to find out the remaining debt owed to Natwest
- arranging a new repayment plan with Natwest as and when

Re: refunds, the difficulty is that Money Plus only just took over the debt, before it was a company called Apex Credit Management. In fact this might confuse matters as they look more like a DCA than DMC. Anyway, I know from seeing some statements that they were keeping around 90% of what mother was paying them in fees, not just 35%, so she wasted a huge amount of money on them during her time with them. It's beginning to seem more and more like a big scam.

As they have now passed the debt onto Money Plus I don't know how easy it will be to get refunds from them.

As far as I know mother hasn't paid Money Plus anything yet, she only just heard from them today.

fatbelly

I assumed she had been passed around different firms that were all part of MoneyPlus in reality. If you can assess how much she paid in fees to who, then do try a reclaim.

The FCA recent report is quite damning of fee-charging dmcs and one company has been effectively closed down. The report can be found here

https://www.fca.org.uk/news/tr15-8-quality-of-debt-management-advice

and it is worth making reference to it if you write to any of them.

On your 'next steps' the CCA request goes to the creditor - Nat west. It's to establish whether they have the original agreement and whether they will admit to it if they have 'lost' it.

playlister82

Having looked on other MSE threads about Apex, it seems like they are a DCA rather than DMC, and I know from Money Plus' letter to her today that they have bought this debt off Apex. Which leads me back to suspecting that this is DCA we're dealing with and not just a DMC. Although, from statements she's received I know that some money is still going to the Natwest. Can a DCA own part of a debt alongside the original creditor? It's so confusing.

sourcrates

They will probebley be a part of the same group.

The situation seems a little confused, and some clarity on what exactly she has been paying, and to whom, is needed here.
Does she have any paperwork relating to it at all ?

For now, cancel all payments to everyone, and seek clarification from whoever writes to you in respect of the debt.

playlister82

Apologies, I don't know why I had Apex in my head - it was a company called PDHL, which is a DMC. It seems that PDHL were ordered by the FCA to stop taking on new customers last year and to give everyone a fairer deal. Unfortunately, my mother's debt has now ended up with what looks like a bunch of crooks, I don't know where the fairness is in that.

sourcrates

playlister82 wrote: »

Apologies, I don't know why I had Apex in my head - it was a company called PDHL, which is a DMC. It seems that PDHL were ordered by the FCA to stop taking on new customers last year and to give everyone a fairer deal. Unfortunately, my mother's debt has now ended up with what looks like a bunch of crooks, I don't know where the fairness is in that.

Follow the advice given.

Hopefully you/she may get a little recommence.

Things are improving, but this is what you get with a largely unregulated industry unfortunatly.

playlister82

Apologies again, things have just become a bit clearer and I know why I was thinking about Apex. It turns out that they are a DCA who Natwest passed the original debt onto. PDHL / Money Plus are a DMC that mum contacted to help her deal with Apex's demands.

I expect this means that the CCA should be sent to Apex and not Natwest? And can we still get rid of Money Plus?

Sorry for all the confusion and continuing questions. Mum didn't really know what the situation was herself as she has always just paid what she was told to, and tried not to think too much about it.

sourcrates

playlister82 wrote: »

Apologies again, things have just become a bit clearer and I know why I was thinking about Apex. It turns out that they are a DCA who Natwest passed the original debt onto. PDHL / Money Plus are a DMC that mum contacted to help her deal with Apex's demands.

I expect this means that the CCA should be sent to Apex and not Natwest? And can we still get rid of Money Plus?

Sorry for all the confusion and continuing questions. Mum didn't really know what the situation was herself as she has always just paid what she was told to, and tried not to think too much about it.

CCA will have to go to Natwest as they are the original creditor, and are the only ones who can deal with it.
Yes you can still dump the DMC, just say you've taken debt advice and realised there is a free alternative.

Still pursue the complaint/claim for fees to be refunded but send to PDHL instead.

playlister82

sourcrates wrote: »

CCA will have to go to Natwest as they are the original creditor, and are the only ones who can deal with it.
Yes you can still dump the DMC, just say you've taken debt advice and realised there is a free alternative.

Still pursue the complaint/claim for fees to be refunded but send to PDHL instead.

OK, and just to be clear, once we have the CCA she can still arrange repayment direct with Natwest? Will anything be owed to Apex?