Compass debt company

[Wingco]

Re: Compass debt company

I can't agree with you there Wingco. From what I've seen their business model, accounts, consumer contracts, tax affairs and conduct are riddled with holes. I can't see why their empoyee non-disclosure agreements should be any different.

I was Joking!!!!!!!!!!!!!!!!!!!!!!!

[Wingco]

Re: Compass debt company

It's not a scam, but it wouldn't be a recommended course of action in my view. You do have to be a little bit careful what you accuse companies of. A few people have decided to stay with Abbey, to maintain the status quo after the shock of Compass, so hopefully they will report back what Abbey actually get sorted for the fee paid.

Maybe not a "scam" but to charge £3600 + loads of extra fees to write a few CCAs doesn't seem like good practice. I appreciate that is what we were all doing with Compass but to repeat that with Abbey for a further year and sign a contract to that effect seems like folly to me.

Why are they charging different fees to everyone for the same work? I understand that one person has gained what appears to be a great deal from ABBEY - working for his Compass fee whilst paying his creditors, but they are not licensed for debt management work - I fully understand that they don't have to be to write CCA letters but it sounds like Debt Management that they offered that guy?

I seriously think their contract is committing people to potentially very high fees, with Abbey having little or no previous experience in this area. There has to be a better way of spending nearly four grand?

If 100 people go to them, and 50% of the Liquidator's meeting on the 30th March admitted to contacting them, and Compass were telling most clients to talk to them, that represents around £300,000 at £250 average monthly fee. Not bad work - I hope it works.

If Abbey could substantiate their claims, it would help.

I will desist from using the 'S' word and will, in fact, not make any further comments about Abbey.
Wingco

[Wingco]

Re: Compass debt company

Just on this, really don't be paranoid about signing letters, back in 2007 there was one incidence of a fraudulently placed signature... otherwise its a bit of a myth, it would be a criminal offence and it doesn't happen, creditors don't actually need the signed agreement to comply with the CCA request - a reconstruction does the job, so although I agree a mark so U know what was signed recently as opposed to a few years ago is a good idea for your own peace of mind, obfuscating signatures can just hold things up in the long run.

There is plenty of advice on here to do just that. Not obfuscating the signature but just to identify whether you did sign the original. I keep saying it is not illegal for DCAs to lift signatures because it is not needed for a copy of the original agreement, but why not do it?

Conwig (I just obfuscated)

[Amethyst]

Re: Compass debt company

Still go to your bank and ask for them to refund your Abbey DDM payment as it was a scam. Mention all of the supporting info on here. They should refund it. I would also tell Abbey that you are going to complain to the Law Society and the FCA. As practising solicitors, they cannot risk losing their licence to practise. I reckon you have about a 95% chance of getting your money back. If they refuse again, get them to itemise and prove the amount of work done so far. It is, however, likely they have done 2 hours' work which would easily use up your £275, but become a thorn in their sides. Keep watching this site, listen to Radio 4 You and Yours (), and regularly Google Abbey Solicitors, Manchester to see if there is any new info about them on there. Wingco

It's not a scam, but it wouldn't be a recommended course of action in my view. You do have to be a little bit careful what you accuse companies of. A few people have decided to stay with Abbey, to maintain the status quo after the shock of Compass, so hopefully they will report back what Abbey actually get sorted for the fee paid.

[Amethyst]

Re: Compass debt company

It shouldn't affect a mortgage application, in theory. Some mortgage companies don't use credit references agencies and simply use an affordability test. But your chances may well still be slim. Marry someone with a great income and good record!!!!! Wingco, Pilot and part-time Marriage Counsellor.

Credit file defaults should be dropping off if you were with Compass for a few years, they stay on for six from default. The issue with mortgages is affordability so if you have 20k outstanding debt then it isn't likely you'd pass affordability criteria. There is also of course the risk of future CCJ's and it really depends hugely on individual situations whether people want to risk a CCJ being added to their file for the next six years or want to do everything possible to avoid that risk. For those that don't know Noddle is a decent free site to check your credit file.

[Wingco]

Re: Compass debt company

Hi, having read through my dealings with Compass are very much the same as everyone else. My wife and I both had arrangements with Compass for 4 years. We had £4,000 each in 'our pots'. Since finding out we have completed the forms and sent them to the liquidators. We have also spoken to all our creditors and are arranging with Stepchange to take over our DMP. All the creditors have placed a stop on the accounts, some for 30 days and some for 60 days. We also signed up with Abbey Solicitors but have cancelled the arrangement, I lost £275 to them as they claim to have already started work on my case. My wifes payment had only been sent that day and they returned her money. We would like to join the group that is set up to provide information going forward. Thanks to all those giving advice

Still go to your bank and ask for them to refund your Abbey DDM payment as it was based on false claims. Mention all of the supporting info on here. They should refund it. I would also tell Abbey that you are going to complain to the Law Society and the FCA. As practising solicitors, they cannot risk losing their licence to practise. I reckon you have about a 95% chance of getting your money back. If they refuse again, get them to itemise and prove the amount of work done so far. It is, however, likely they have done 2 hours' work which would easily use up your £275, but become a thorn in their sides. Keep watching this site, listen to Radio 4 You and Yours (they are going after Abbey), and regularly Google Abbey Solicitors, Manchester to see if there is any new info about them on there. Wingco

[Amethyst]

Re: Compass debt company

When you use the LB CCA letter, amend your signature to a slightly different version and sign in green or red ink - DCAs have a habit of 'lifting' signatures from letters and applying them to a copy of the original agreement - with a slightly different signature, you will expose this trick.
Send everything recorded delivery, keep a file copy, and chase them after 12+2 days with the follow-up letter.

Most important - keep everyone posted on your progress with as much detail as you can or wish. "We are all in it together" David Cameron May 2015. Except I doubt Dave can spell 'debt'.

It helps if you personalise your letter rather than simply copying the LB version; they could be getting hundreds of them over the next few months. Wingco.

Just on this, really don't be paranoid about signing letters, back in 2007 there was one incidence of a fraudulently placed signature... otherwise its a bit of a myth, it would be a criminal offence and it doesn't happen, creditors don't actually need the signed agreement to comply with the CCA request - a reconstruction does the job, so although I agree a mark so U know what was signed recently as opposed to a few years ago is a good idea for your own peace of mind, obfuscating signatures can just hold things up in the long run.

[Amethyst]

Re: Compass debt company

No way - just the Abbey ones. Although Compass turned out to be a scam, it was okay for a while. But you may have a point.......................
worth a try. I think banks can only refund back 3 months and probably knowing that Compass is in Liquidation, they are probably unlikely to refund anything. I will try Barclays. "If you don't ask, you don't get" The Greek Prime Minister asking Angela Merkal for billions for war damage to Greece Sept 2015.

Amethyst: What do you think of going to our banks and asking for DDM refunds for some of our Compass payments - it's a long shot?
Wingco

Direct Debit payments? Very unlikely, the DD's were set up genuinely and there (subject to opinion) wasn't money taken fraudulently. The payments should have stopped being claimed for mid Feb. The banks have done nothing wrong, and unless you were paying compass by credit card each month (which would have been exceedingly unwise for a dump) the bank has no liability for refunding you anything due to Compass being 'a bit dodgy'.

[Wingco]

Re: Compass debt company

I still have the emails from compass where I said at the beginning of the yr...how I was looking forward to being debt free in a yr and they were so convincing in their replies..... Now its gonna be another 4 yes at least. Will I ever be able to have a mortgage again?

It shouldn't affect a mortgage application, in theory. Some mortgage companies don't use credit references agencies and simply use an affordability test. But your chances may well still be slim. Marry someone with a great income and good record!!!!! Wingco, Pilot and part-time Marriage Counsellor.

[tonyslim]

Re: Compass debt company

Hi, having read through my dealings with Compass are very much the same as everyone else. My wife and I both had arrangements with Compass for 4 years. We had £4,000 each in 'our pots'. Since finding out we have completed the forms and sent them to the liquidators. We have also spoken to all our creditors and are arranging with Stepchange to take over our DMP. All the creditors have placed a stop on the accounts, some for 30 days and some for 60 days. We also signed up with Abbey Solicitors but have cancelled the arrangement, I lost £275 to them as they claim to have already started work on my case. My wifes payment had only been sent that day and they returned her money. We would like to join the group that is set up to provide information going forward. Thanks to all those giving advice

[Wingco]

Re: Compass debt company

Today I stopped my standing order with bank for compass even though I've had nothing in writing from them. They (compass) took my monthly instalment but distributed none of it to my creditors and my monthly payment in March was returned (this was when I started to figure out something was wrong-although everything I've found out so far had been internet based). Who has breached the contract on this Compass or me?

The liquidator AABRS seized the bank accounts and froze them in March. Compass was returning most of the February DDM payments. I got mine back from Compass. But there is no way they can take any more of our money.
Wingco

[Deejay50]

Re: Compass debt company

Which email did you send it too and what did you say? I have emailed twice - that's why I sent a registered letter today? Thank u in advance

[Wingco]

Re: Compass debt company

When you say refund any ddm payments, what do you mean? Do u mean thee compass ones? Or is that wishful thinking? How do I get this back?

No way - just the Abbey ones. Although Compass turned out to be a scam, it was okay for a while. But you may have a point.......................
worth a try. I think banks can only refund back 3 months and probably knowing that Compass is in Liquidation, they are probably unlikely to refund anything. I will try Barclays. "If you don't ask, you don't get" The Greek Prime Minister asking Angela Merkal for billions for war damage to Greece Sept 2015.

Amethyst: What do you think of going to our banks and asking for DDM refunds for some of our Compass payments - it's a long shot?
Wingco

[Wingco]

Re: Compass debt company

Where do I get a blank Consumer Credit Act letter template that I can amend in a word document?

When you use the LB CCA letter, amend your signature to a slightly different version and sign in green or red ink - DCAs have a habit of 'lifting' signatures from letters and applying them to a copy of the original agreement - with a slightly different signature, you will expose this trick.
Send everything recorded delivery, keep a file copy, and chase them after 12+2 days with the follow-up letter.

Most important - keep everyone posted on your progress with as much detail as you can or wish. "We are all in it together" David Cameron May 2015. Except I doubt Dave can spell 'debt'.

It helps if you personalise your letter rather than simply copying the LB version; they could be getting hundreds of them over the next few months. Wingco.

[Deejay50]

Re: Compass debt company

Have sent email no response as yet that was yesterday.... Here's hoping

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I got my £150 back same day payment before 5pm. The guy who rang me was an irish guy and he was actually very nice and helpful[/QUOTE]