Cleardebt Group Plc has bought the client base of DCM Money Solutions.
- DCM which traded under the registered name Apex Debt Counselling & Management Limited is now in administration.
What does this mean for the vulnerable client base that put their trust into DCM when taking up a debt solution from them, be it an IVA or debt management plan?
Well the fact that Cleardebt Group Plc has swooped in for the client base suggests that the failure of DCM Money actually again benefits the Cleardebt acquisition model. On the other hand it will be down to the client to decide if the service and management of the IVA’s or debt management plans by Cleardebt actually compares either positively or negatively when compared to DCM who previously managed their cases.
- As a client on a debt management plan, you should not be tied in or contracted to the company helping you.
- You should be free to leave at any time!
- When joining another debt management company after leaving or moving from another, your creditors should not be subjected to a missed payment due to the change over.
At Lewis Alexander we will help any client that finds themselves in the unfortunate position where they have chosen one debt service and ended up with another through no fault of their own, just like situations such as the DCM Money example where that company has gone into administration.
- You have the choice to join any service you so desire but should be aware when shopping about.
From our own industry experience DCM had always operated within the remit of the Debt Management Guidance set out by the Office of Fair Trading. We never heard bad press regarding the daily operation or with regard to the advertising for that matter.
There was a fairly recent change in management from what we were aware of and sometimes when the ethos or founding individual is removed from a business, that business does not always continue to prosper, that could have been the case for DCM Money Solutions but we cannot clarify this.
If you need advice regarding moving debt company or service then call our debt helpline using 0800 018 6868. We can offer you debt management plans and IVA advice if you are unsure or mislead by your current provider.
If you were a client of DCM Money Solutions and would like to see how Lewis Alexander Financial Management can help you, we can state that by moving to our debt management plan would mean that the first payment you make would be distributed to your creditors, therefore, they would not notice a break in the payment plan and subsequently we would not be keeping your first payment to our company.
- For further information on becoming a client of Lewis Alexander Financial Management call 0800 018 6868, all calls are dealt with in the strictest of confidence.
- Your call is FREE from landlines and our lines are open 24 hours a day, 7 days a week.
