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Tina.23
Starting Member
1 Posts |
 Posted - 23 July 2012 : 23:58:34
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I have a DMP with what I thought was a well respected company (director used to comment on this site), but I didnt ever sign anything. I have been paying 500 a month and they have been paying minimum payments to my creditors, in order to build up a pot to negotiate settlement. My problem is that they have in excess of £3000 and have not returned my calls or emails despite the answering service promising they will get in touch with a particular individual. I have requested that they update me on the state of play - who they have approached for settelment etc, but I have heard nothing for months regarding my accounts. I have now started getting letters again from debt recovery companies, often with very inflated balances. My concern obviously is that they have been spirited away with my money, which will leave me with no money and debts.
What recourse do I have if I am unable to get to speak with anyone from the company. I have deliberately not named them, as I am still hoping for a positive resolution. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 24 July 2012 : 05:21:53
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Hi Tina, I have an idea who you are talking about and would like to think there is a genuine oversight. I suggest you email and call them saying that you have had to post on this forum and that you need answers immediately or you will start formal complaint proceedings. This must be awful for you and I do hope you get this sorted soon. Please let us know how you get on.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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year 2029
Average Member
590 Posts |
Posted - 24 July 2012 : 05:58:59
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Hi Tina,
Sorry to hear you're having problems.
I'd second what Viki has said.
Also, have you been paying haven't bacs?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 24 July 2012 : 06:32:12
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Hi Tina and welcome to the forum.
I've an idea of who it is as well and you've not been getting a good service at all.
Do as Viki says and keep pestering them until you get some answers.
If you've any statements from your creditors, does it say on there that they've been receiving payments at all?
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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Tinabeans
Starting Member
4 Posts |
Posted - 24 July 2012 : 07:21:47
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| Hi, thanks for the replies. This problem has been ongoing for several months, I have been pestering via phone and email, with always a response at the 11th hour. I do not have any statements, I was very naive at then beginning, and the company was insistent I didn't need to worry about any contact with my creditors. At the time it was a godsend, but I am now getting increasingly uneasy. I am trying to avoid any formal complaint, but as posting on this forum was, it may be the last resort. Thanks for the advice. T |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 24 July 2012 : 07:57:04
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A debt management plan doesn't protect you from creditors, they are free to add interest and charges on and chase you.
How much is the overall debt?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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Tinabeans
Starting Member
4 Posts |
Posted - 24 July 2012 : 22:17:52
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Hi Viki,
My debt is approx 11k. My main concern is the potential of losing the money I have paid to this company, and still be chased by creditors. They ar still silent, however I have been given some different emails to try within the company, so fingers crossed. T |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 25 July 2012 : 07:17:00
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It's definitely a worry, keep on at them and please keep us updated.
If they are proposing an informal full and final to creditors, which I think they are, then you will need to offer about half the debt plus the company's fees. And it would really only be accepted if the debts have been passed to debt collectors.
Good luck anyway and let us know.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 25 July 2012 : 16:58:41
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I agree with Viki that they are a firm offering a full and final proposal.
I hope you get it sorted but these sort of companies should be avoided - I've never heard of a happy ending yet.
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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year 2029
Average Member
590 Posts |
Posted - 25 July 2012 : 18:42:18
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Tina,
Are they trying to offer a full and final settlement on your behalf?
Viki/Niobe, just asking so we can get more of an idea what is going on.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 25 July 2012 : 18:51:56
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I believe Tina did mention this in her initial post.
I've seen it happen before and it's never been a happy outcome.
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 25 July 2012 : 18:57:59
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Like Niobe, I was under this impression from the initial post and also guessing the company Tina is talking about.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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Tinabeans
Starting Member
4 Posts |
Posted - 25 July 2012 : 19:23:19
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Hi Everyone,
finally today I have heard from the company, after my husband phoning the individuals mobile constantly for over an hour!
Unfortunately my situation hasnt moved forward as I would have liked, I am still waiting for F+F settlement figures, as I was in January and March this year. They are with big organisations and have been told they are not bothered about settlement, so at the moment I am in his hands as they have all my money.
He has told me that he is offering approximately 50% of the debt, so I know I have some way to go yet.
I hope to keep some dialogue going (as I have tried before) but will need to be more assertive in future.
Its a bit worrying Niobe, I hope I can be the exception!
I will keep you posted - thanks for your support. T |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 25 July 2012 : 19:30:19
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I hope you are the exception Tina and that you get things sorted.
Refer any correspondence from creditors to this company and ask them to deal with it.
Keep all copies of any correspondence from this firm as well in case of any problems in the future.
Ascend may you find no resistance
Know that you made such a difference
All you leave behind will live to the end
The cycle of suffering goes on
But memories of you stay strong
Someday I too will fly and find you again
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 25 July 2012 : 19:39:53
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Tina, I really hope you get this all sorted soon so you can move on.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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year 2029
Average Member
590 Posts |
Posted - 25 July 2012 : 20:02:54
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Hi Tina,
Is it worth getting further advice as well? Maybe from the CAB or other insolvency practitioners?
I only say this incase the worst happens and this company fail you.
Not a nice thought I know, but it cant do any harm to seek other options and be further informed?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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I have a DMP with what I thought was a well respected company
