Debtcollect Ltd - problems

Pendan

Hi,

I’ve been using Debtcollect (based in Rochdale) for about 14 months to help manage and repay about £25k of debt.

I’ve been paying £740 to them a month (which includes a £39 fee). Recently I asked them for a statement showing how much I’ve paid them in total and how they’ve distributed it, as I’ve had calls from my various creditors saying they’ve not been paid.

Debtcollect keep fobbing me off and haven’t provided a full statement. What they have sent me is a very basic breakdown of each of my debtors, what I owed at the start and what I owe now. There seems to be a gap of about £3,000 (i.e. £3,000 of my money has gone missing). I can’t get to the bottom of it as I can’t get a statement to be 100% sure of what has happened.

I’m sure I’m being ripped off and having seen some reviews on this company on the web they seem to be very questionable. I’m not sure I’ll get this money back.

I intend to try and strike a deal with all of my creditors to pay them directly, but does anyone have any advice about how I can deal with Debtcollect, get to the bottom of my missing money and get away from them? I think I may have to get a solicitor involved, which is money I don’t have!

Any advice would be greatly received.

Many thanks,
Pendan

sourcrates

Yes, ditch them now, today, straight away.

They are a fee charging debt management company who are only interested in making money out of you.

Contact stepchange who are a free to use debt charity.

Send a formal written complaint to the DMC, give them 8 weeks to respond, then escalate to the FOS.

They are the enforcement arm of the regulator the FCA.

YOU DONT NEED A SOLICITOR.........YET.

Never use commercial debt management companies such as this, as they tend to keep your money, and/or go bust on a regular basis, taking all your cash with them.

Cancel now, and don’t pay them a single penny more.

fatbelly

I can't even find these guys on a quick search. Get your complaint in writing quick and send it signed for.

(Edit - I can't even find them on a more leisurely search. There was a company of this name that was dissolved a year ago. 06648951. But based in Wembley)

I think you will have to eventually take out a court claim on this but I agree to try referring their reply (if any) to FOS first (you can't do it the other way around) and then a letter before action

The good thing is that moneyclaimonline is simple to use - a claim for £2999 would cost £105 to start. No solicitor needed.