DMA's who are the good ones?

[blowing bubbles]

Can anyone recommend a good DMA, I am currently using Baines and Ernst and although they have got some agreements in place with my creditors they have not continued to persue agreements from the others. I am paying £50 a month for this service and they have not acted quickly enough with some urgent issues recently. Getting a bit fed up with my calls not being returned etc.

 

Thanks

[wangster]

i used cccs, but found the service not the best to be honest.a friend said theirs, Ideal debt were good, so went with them. I pay for the service, but things get done, which were not before.

 

I guess you can do it yourself and youre motivated to sort it as quickly as possible, which is also the cheapest but to be honest I didnt have the time to sort it all out.

[vexlitigant]

The best DMA's.

 

I can't think how the word best and DMA really would be put into the same sentence.

 

CCCS are useful for some issues, but they are limited like any other service that experiences high demand.

 

What is on your plate that you cannot handle?

[hillards]

Can anyone recommend a good DMA...

Sorry, no - I can't.

 

There are two types - one lot will charge you a fee for handling your account with them. A lot of the companies who are claiming money will complain that you are not managing your debt properly as part of your 'disposable income' is paying the debt management company, not repaying the actual debts. The fee charging companies are not doing you any favours, but will happily charge you for the pleasure. And, did they take the first month's installment in full, as a set-up fee?

 

The reason the finance companies and DCA's will bleat about this is because the financial institutions themselves have set up the likes of the companies who operate for free, as charities. It is in their interest to steer you towards these free ones. Not because they make money out of the fees, 'cos you don't pay any, but because they can lock you into a repayment plan that will go on for years!

 

I've seen people move from B&E to CCCS and smile, thinking they are doing well to stop paying a monthly management fee - but then they realise they can do little about these debts when they discover CAG.

 

Sending a CCA request to a DCA and following procedure through will usually result in the account being unenforceable - but try getting CCCS to take that one off the list of companies you are paying. They'll make a fuss and insist you stop doing things like that. It's not unknown for them to stop 'looking after' the customer!

 

People find debt managers useful, they can help sort out your problems and ask the colelction companies to accept a certain amount, based on your disposable income. They'll review this every few months, to make sure they are getting the most they can from you, which is paying the comnpanies who set them up. They're happy, but how long will you be?

 

Now, not to condone any form of debt evasion as that's not why CAG is here, but it is quite possible that some, if not all, of the debts were unenforceable. The older they are, the more likely that is. By dealing with matters yourself, and tackling the DCA's head on, you could find that a list of perhaps 6 companies comes down to 1 or 2 that can back up their claims. Some people have managed to get this down even further, to none!

 

What started out as a very scary sum of debt could quickly rattle down to a more manageable amount, but the DMA's don't like their clients doing this, for obvious reasons.

 

Hence my opening statement...

[PGH7447]

its called "Going Solo"

 

costs very little and requires only a little dedication and time, and saves you money

[vexlitigant]

its called "Going Solo"

 

costs very little and requires only a little dedication and time, and saves you money

 

Precisely. PLUS, you'll be and enlightened and more sensible person / couple after you have taken control of these issues directly. Patronising its not meant to be, but I deem the personal experiences that wife and I have gained through these battles (assisted in the main by CAG members and info that resides here) to be nothing but positive contributions. I have learned a whole lot, and keep learning. Finance guru i ain't, but i'll never be a mug to the banks etc ever again

[PGH7447]

Precisely. PLUS, you'll be and enlightened and more sensible person / couple after you have taken control of these issues directly. Patronising its not meant to be, but I deem the personal experiences that wife and I have gained through these battles (assisted in the main by CAG members and info that resides here) to be nothing but positive contributions. I have learned a whole lot, and keep learning. Finance guru i ain't, but i'll never be a mug to the banks etc ever again

 

could not have said it better