Bullying DMC, better off without them?

[AFC]

I have recently sent each of my creditors CCA's and am awaiting a response. I have debts dating pre 2005 with PRA and a few others.

Meanwhile my DMC are hounding me for up to date income and expenditure forms and statements etc - I am self employed and my earnings fluctuate considerably month by month. I am reluctant to let them see a 'good' month for fear of them telling my creditors that I can afford to pay more. I've stalled on giving them the info, and was hoping to stall them until I'd received responses on the CCA's. They have today sent me a letter telling me that they will terminate my agreement if I fail to provide the documents by friday? - Am I better off dealing directly with my creditors in this instance or supply the docs and hope my DMC are actually working for me rather than my creditors as it feels.

My credit rating is in good shape now, and my aim was to make full and final settlements, until I stumbled across this forum and read about CCA's. I'm not worried about dealing with DCA's myself but I am worried that not complying with the DMC will affect my credit score once the DCA's are back involved with me directly.

I feel trapped with my DMC which is ironic as they are supposedly helping me!

Any advice is gratefully received.

[warwick65]

Re: Bullying DMC, better off without them?

Is this a free or a fee paying DMC

Do they require proof of your income?

If so maybe send a few months that have good and bad.

Difficult to offer advice without more info, also I am not registered as a debt advisor

[AFC]

Re: Bullying DMC, better off without them?

They charge £25 per month, They say they require proof of my income in order to give me 'sound advice', when in fact all they keep advising is bankruptcy or IVA's - neither of which are viable to me with my current employment environment.

The other problem with sending them my statements is I have my income tax and VAT liability funds in my account which I am worried they will try and get me to use to pay more.............I'd sooner fall out with them than the HMRC!!

I've supplied my SAE for the last tax year and proof of expenditure but this doesn't seem to be enough for them.

[Debt Camel]

Re: Bullying DMC, better off without them?

DMC firms are obliged to do annual reviews, including verifying the figures in them, and to have a procedure to stop providing DMPs to clients that fail to engage.

Why not send them all your statements for the last year - then they can see how your income fluctuates. And explain how much money is there for tax - but really you shouldn't be keeping that mixed up with your personal account money, you need to get a separate account to use for your business.

OF course if you actually have a lot of surplus cash in there for making partial settlements with, then this isn't going to work!

You can just say you will run your own DMP from now on. If your debts in your DMP have already dropped off your credit record, then they won't ever reappear.