Hi, I'd appreciate any help/advice about my situation and what I should do next.

I got into a lot of debt back in 2006. I have 10 debts ranging from £250 to £12k. Around £42k in total.

When I got into this debt I panicked slightly and took out a debt management plan with a fee paying company, paying £310 a month, which includes a fee to them of approx £65.

I have paid this payment faithfully for the last 10 years.

The DMP company contacted me recently to raise their fees and it was at this point I realised why was I paying them £65 a month? I have now cancelled my denit payment with them and if necessary will deal with each company myself.

I also received some PPI money back, around £6k and was going to utilise this to write Full and Final Payments letters to some or all of the companies I owe money too.

My questions are, is this the best way for me to proceed or should I be doing something else ?

Thanks in advance

Who's the fleecing DMC?

Welcome Sols.

Any advice on how to proceed?

Thanks

welcome sols?

never heard of them..

who was you debt management plan with...

Hi with WS who are part of Lawrence Charlton Debt Solutions ?

I'm wondering if it is a proper DMP or if it is simply an informal arrangement with my creditors to pay my debts off.

I'm actually now starting to think I have been incredibly naive oer the last 10 years and its probably cost me a lot of money.

Thanks

They do appear to have been paying off my creditors as I have statements from them, as well as from WS's and have a pretty good idea of what I owe.

Can I ask what I should fdo from here in your opinon ?

time to gather info me thinks

can you list you debts please?

type

OC

date opened

date defaulted

who you were paying

outstanding today

pers for now

i'd wait for the forest to fall thru your door

and deal with each one on its own thread.

most DMC's hold a full and final pot

that you know nothing about.

sar could be useful.

Hi, thanks for this.

If I simply stop the debit payment going to WS/LC Group and then wait for the letters to come through from all of my creditors ?

I can also list all of my debts, all of which were unsecured loans or credit cards. I can also as far as I can list the other information. Should I do this on this forum and what is an OC ?

Also when you say that most DMC's hold a fiull and final pot, can you tell me what you mean?

I am also happy to get a SAR but am wondering why it would be useful ?

Sorry, I've spent most of today trying to get my head around this Forum and my head is starting to get more woolly than usual trying to get to grips with my next stages.

Thanks for your help

don't worry take things slowly

it wont hurt.

OC is original creditor

I would guess that all your debts have long been sold to DCA's ??

as for the F&F pot

if you look in the debt management company forum.

[which I think i'll move you too actually]

as being in Scotland in this instance makes no odds

unless there are any 5yrs periods you didn't pay anyone?

you'll see that quite a few of these fee paying DMC's actually

charge you a fixed fee for their exceptionally difficult work

[bowlarks you can do a DMP yourself for free!!]

some also hive off an extra sum that they put in a 'pot'

that 'pot' they could if your plan runs for years - offer a short settlement or what we call a full & final

offer to some creditors...

now you've been in this plan for some years..which is why I mentioned it.

Right thanks v much. It is v much appreciated.

If I stop the monthly DMP payment, is it wise to notify them as well ? I should have checked out doing it myself and at least then the £65 per month fee could have gone to my creditors.

Yes re DCA. My debts have all been passed on to the likes of Cabot, Shoosmiths, DLC, RMA Resolve, Wescot Credit and Laser uk

I've had the arrangement in place for just over 10 years. How would I go about finding out if they have been putting an extra sum into a pot ?

can I just clarify something.

can you give me the exact name of the DMC?

welcome sols? you said?

is that welcome solutions?

its worthy to not that their office is simply a mailing address

and is actually owned by evershed solicitors/DCA

a very well know 'fake/tame' solicitors name for hire

by all the dca fleecers

those names you have listed ..oh well

if we had a top 10 chart here of DCA's that spoof people on unenforceable debts

those would all be in there...

sadly I think you are going to find 90% of yourdebts are unenforceable and you've been cash cowed blind for 10yrs.

as for the sar

yes send that and a covering letter that you are cancelling the DMP forthwith

and wish any money they may hold in any settlement pot returned too.

dx

Hi yes, the information I have here is that the company are called :

Welcome Solutions The Debtsorters, part of Lawrence Charlton, Specialist Debt Solutions.

The address on the information is : Church Street, Alington, ChorleyPR7 4EX.

In relation to the DCA' s mentioned, I was alsogoing to write to them with a full and final offer. I'm presuming I shouldn't do that as yet.

Thanks again

you dont do a single thing. You need to do your research first. A F&F is the absolute final thing you should ever think of.

are there any FCA or other registration numbers on their paperwork

I can find no registration for them anywhere

http://www.dellam.com/cgi-bin/main.pl

you dont do a single thing. You need to do your research first. A F&F is the absolute final thing you should ever think of.

Okay thanks.

I"all start doing my research but do intend cancelling the debit to WS.

Thanks again..

are there any FCA or other registration numbers on their paperwork

 

 

I can find no registration for them anywhere

http://www.dellam.com/cgi-bin/main.pl

Hi there is a number 4992828, registered in England and Wales. They also say they DEMSA members with some approved code by Trading Standards Gov UK

Their registered address I have found as 70 Great Bridgewater St, Manchester M1 5ES.

Thanks again

strange I posted and it didn't appear

yes that's eversheds a sols name for hire

well know here

the address is simply a mailing drop

I bet if you search the directors you'll find lots of links to EX DCA people.

dx

urm

if you search for Lawrence Charlton

the various sections in red there

alarm bells ring...

numerous old defunct names

and they are now listed as inactive

http://fca-consumer-credit-interim.force.com/CS_RegisterSearchPageNew

Thanks v much again, I'll have a look.

Regards

Hi okay, I'm going to follow your advice and send them a letter plus an SARand tell them I'm going to stop making the payments.

I'll also ask about the settlement pot although I suspect that won't prove fruitful

I expect I will then receive lots of letters/calls from my various creditors.

You mention that you think about 90% of my debts are unenforceable (and that I've been cash cowed blind for 10yrs.)

What should I then do with all the threatening letters / calls etc ? Is there somewhere on this site I can look for a protocol to follow?

Also if 90% are unenforceable, what about the remaining 10%?

Apologies for another set of questions, but I mus admit to a large degree of anxiety when dealing with these people and the prospect of what will happen short term.

Thanks again

Hi, just trying to do some research and reading this :

This is a very important chapter and needs careful reading

http://fshandbook.info/FS/html/handbook/CONC/7/15

Notwithstanding that a debt may be recoverable, a firm must not attempt to recover a statute barred debt in England, Wales or Northern Ireland if the lender or owner has not been in contact with the customer during the limitation period.

If the lender or owner has been in regular contact with the customer during the limitation period, the firm may continue to attempt to recover the debt.

A firm must endeavour to ensure that it does not mislead a customer as to the customer's rights and obligations.

It is misleading for a firm to suggest or state that a customer may be the subject of court action for the sum of the statute barred debt when the firm knows, or reasonably ought to know, that the relevant limitation period has expired.

A firm must not continue to demand payment from a customer after the customer has stated that he will not be paying the debt because it is statute barred.

Does this mean that after paying my DMP faithfully for over 10 years, I can essentially say to them that the debts are statute barred and to stop demaning payment for them?

Thanks

Can't be SB,d you've been paying then....

DCA's are not bailiffs

They have

No such legal powers

When/if you start to get threat-o-grams

You pop here and tell us

Okay so unfortunately I can't just stop paying them, but I can close off my DMP with WS, as already disussed.

Then next stage is to await the mail and to let you know.

This could get v interesting. I'm hoping positively interesting.

Thanks again for your help

Oh it will be a very big eye opener for you

Stop paying the fleecing DMC.

Then well deal with things as they appear

Thanks v much for your help

I'm not sure if I'm looking forward to it, however will let you know what happens.

Havinga DMP was strangely reassuring even if it took away almost all of my disposable income.

Can I check further re this?

I've been trying to do some research into this to try and ensure I'm up to date with what I need to do.

I have cancelled the DMP and written to them, and am awaiting developments.

Is it worth my while writing to my creditors individually asking them for a copy of my original credit agreement with the necessary postal order attached or would that just be wasting my time just now ?

Thanks