Bad Debt Advice

Bad debt advice can lead you from the frying pan into the fire

Bad Debt Advice isn't just a nuisance its a serious problem.You've seen the adverts and read the claims. They sound too good to be true - and there's an old saying "if it sounds too good to be true, it usually is".

Unfortunately the growth of debt problems has led to an alarming number of new companies spring up that claim to be able to wipe out a large portion of your debts.

Look out for tell tale signs of companies that might mean bigger problems than you can possibly imagine.

• Claims of "APPLY NOW & Reduce Your Repayments By Up To 75%! "
• Claims of "Debt problems solved, reduce payments immediately by up to 80%"
• Claims of "Wipe out up to 90% of your debt problems"
• Claims of "Clear your debts overnight"
• Claims of "We can use little known government legislation to wipe out over 80% of your debt"
• Their website only has 1 or 2 pages of glossy pictures and only says words you want to hear
• Their website doesn't have a contact address
• You found their website by them passing themselves off as another firm (this is something that we are victims of - our success has meant people searching for DCM on google get presented with sponsored links titled DCM Money.)
  Please note that we are NOT connected in any way to these types of 'companies'. Unless the website you click on is branded with the DCM Logo or links through to our main site then we would advise you are not receiving good advice. If you know how, complain to google that the link you clicked on was misleading - it will help us try to eliminate this scurge!

 

How much worse can it get?

Bad debt advice can make things worse by a number of ways:

• Usually you will have paid an upfront fee - so this will be even more you will probably lose.
• The 'solution' offered will probably be an IVA and one that isn't suitable for you. At then end of it (5 years) you may still lose your house and end up bankrupt.
• Any debt management plans will probably fail because they aren't interested in your circumstances which means you are under pressure to meet payments from day 1 - leading to the same stress as now. When the plan fails your creditors will not have any sympathy that you've lined the pockets of an intermediate firm because more often than not you'll have paid a huge upfront initial fee.
• Bad debt advice can result in financial hardship for you and there are NO comebacks against the firm you have used.
• You could easily lose your house, car, bank accounts
• It could be the final straw in any personal relationship

 

So how are DCM Money Solutions Different?

• We aim to ensure you pay no more than you currently owe. So if you owe £50,000 then within the term of our debt management plan you are likely to pay no more than £50,000 including our fees.
• We will look at your personal circumstances and what you want to achieve and build a plan around that
• We do not promote “one size fits all” IVA's as a first option or try to use 'government legislation' as a sales tool.
• We are completely open and transparent with our fees. All our fees are calculated on a case by case situation depending on the amount of work we have to do.
• The best situation for us is the best situation for you. Because most of our employees have been through debt problems they know exactly how you feel and DCM's success is down to this mix of care and professionalism. we've been likened  to "Citizens Advice with teeth" and "Turning to DCM felt like bumping into superman when being chased by baddies" .