Money worries debt management (genuine or fakes?)

[sparkly_pixi_dust]

Hiya justa little info about me, when i was 18 i got credit cards thrown at me wiv £1000 limits on them, 21 years old now and im £15k in debt. At the start i was fairly good at paying the money back untill i went on sick from work and couldnt afford to pay them and then i lost my job. The companies never bothered me about the money so i found a new job and decided to deal with 'Money worries'.

i contacted all of my creditors saying that i would now be dealing with this company and to contact them for further info........................ after 4 months i have now got 1 ccj and 9 other people threatening to take me to court. Money worries have not helped me in the slightest they took money from me and never even contacted the creditors. I phoned everyone of them and sent them a letter making an offer of payment and within 2 weeks they all had accepted the offers i had made them, now i have lost every penny i paid to Money worries and they refuse to pay it me back. I even incurred bank charges and the refuse to pay me the money back that has already been taken from my wages!!!. Please if anyone else has had this problem let me know how you dealt with it because im at a bit of a loose end at the min and i cant afford to just lose the money like that.

[blueda]

Hi sparkly pixi dust and welcome to CAG, i had never heard of the company before i logged on to there website and read their claims of writing off up to 75% off of debt. I have been dealing with a small private owned debt management company for years with no problems. To begin with i payed £100 set up fee, then a monthly fee to pay the creditors and admin fee, to begin with, the creditors kept writing and phoning me,saying i was still responsible for the debt, until i gave them permission in writing to speak to the DMC directly, all the creditors agreed small payments paid through debt management and stopped hassling me. Hope this helps explain the service you should have been getting.

[Marivanna]

Hi Blueda, should not then DMC advise their client to write such letters?

 

Is there a way to cancel the contract with DMC and get fees and monthly payments back if they never agreed with, let alone forwarded the monies to, the creditors?

They never sent a statement either.

 

Thanks.

[blueda]

Hi Marivanna, i take it that you are parkly pixi dust with a new name, you should contact trading standards about this company, as they have not done there job, then you should receive a refund. Debt management companies should do all the contact with the creditors, and should have sent you statements.

[Marivanna]

Hi Blueda, no, it was not me before. I was just looking if anyone enquired about this company. Not to start new thread.

 

I also found a case on FOS news site, where DMC had to refund all ££:

75/02

debt-management company’s poor administration creates further difficulties for consumers seeking help with existing debts - issue 75 - consumer credit complaints

 

I thought, maybe, you could point me to a sample letter quoting DMGuidance from OFT and, possibly, something re distance selling - service was sold on the cold call over the telephone. Until I study all regulatory documents, my time window might close, if there is any.

 

Anyway, thank you for support and encouraging. I will start communication with DMC, see what they say. I'll keep this thread updated, whatever the outcome.

[Nileejenngra]

DO NOT USE THIS COMPANY

 

When you have debt problems, you can become desperate and your otherwise good judgement becomes clouded.

 

I contacted Money Worries Ltd, (via Yes Loans...BAD), to set up a debt management plan to pay off creditors. During the 14 day cooling off period they managed to take £423 from my bank account as an initial payment. I DID NOT authorise this. They have eventually agreed to pay the money back but to date have not done so.

 

They made a poor financial assessment of my current situation and wanted me to pay £250 per month to pay the debt off. The figures just didnt compute and this is when I got worried. I could only afford £143 per month. My 3 year old daughter could have told me that !

 

They are extremely difficult to contact. The 0870 and 0845 numbers provided will oly put you on hold for hours and at great cost to you. I have found this number useful if anyone is having difficulty contacting them to cancel..01633 712 854.

 

They have no interest whatsoever in helping you resolve your debt problems. They ONLY want your money.

 

I now use the CCCS, Comnsumer Credit Counsellng Service, the advice is sound and very helpful. Most creditore advise you to use the CCCS. Its completely free.,.....NO FEES.

 

Any debt management company that wants to charge you a fee is ONLY interested in making money out of you.

 

Be aware....Money Worries will not help you......they just want your money.

[Marivanna]

Hi Nileejenngra

 

Thanks for the tel No! I was about to give them a call as they never responded to my letter. Next step to complain to Financial Ombudsman, wanna join in?

 

Funnily enough, it was the same ££ in my case.