Compass debt company

[Wingco]

Re: Compass debt company

Please contact me to get as much info that you need and for my email address

There are possibly 2000+ Compass clients - we can't contact them individually - that's a mammoth task; it has to be the other way round. Go to a Private Message to me or post it on the private Group forum (possibly not ideal), or wait until we give you a confidential email address (Andy is sorting one out - I hope). Wingco

[Wingco]

Re: Compass debt company

Thank you Wingo, please keep me informed, enjoy your holiday.

Will do, Hakster. The Committee is very much in the Embryo stage at present. Once we have the post-meeting report, we will post it on here and elsewhere if possible for Compass clients to see and for Amethyst, EXC, Enaid and Nibbler to scrutinise!!
The Committee is there to assist the Liquidator - he doesn't understand how intelligent people end up with a company like Compass, nor do most of us.........now. He will have very specific questions about how the Compass DMP worked, the mythical clients' pots, the high fees, the unexplained and unsupported insurance policies, and the directors' conduct from the outset, but particularly in the last 9 months once they realised they would not get licensed to operate as a Debt Management Company (DMC).
The Committee will represent the Client Group to ensure our views are made known and actioned, if possible.

Some tips: Don't talk to your creditors - everything must be in writing. Send out Consumer Credit Act letters (CCAs) and everything goes registered/recorded delivery. Keep copies and a comprehensive filing system. We are all entering a viper's nest and we are amateurs but now backed by the formidable Legal Beagles team. Use the proper templates found on this site but personalise them to your specific situation. I sign in green ink with a variation of my signature just in case the Debt Collection Agencies (DCAs) try to lift my signature to make any paperwork look more authentic - they do do this! And I understand it is legal!!!!!
But it is fun playing the game - well I think it is:taunt:

Must get the chauffeur to polish the Bentley for my drive down to the Cote D'Amor on Tuesday, whilst I pack the Luis Vuittons and forget about these pesky DCAs, DMCs, DMPs, DFRs (I made that one up) and CCAs. Back on the 17th.

Wingco

[Deejay50]

Re: Compass debt company

Please contact me to get as much info that you need and for my email address

[Wingco]

Re: Compass debt company

There are possibly 2000 ex-Compass clients many of whom are swamping AABRS (the liquidator) with email requests. Just sit tight and read through the threads on here. Work with Stepchange or Payplan to sort out your creditors all of whom will know what has happened and are being very co-operative.....so far. I'm doing my own DMP with the great help from the Legal Beagles. Worth its weight in gold.
The so called 'pot' has just £22,000 when it should contain £2,000,000. Sad but true. The £22,000 works out at less than £11 per client but it would be worked out pro rata and there are some large creditors on the list so far. I'm expecting nothing from the 'clients' account'.

[Wingco]

Re: Compass debt company

You are so right there!! they are under investigation and much of what they have been claiming is nigh impossible. Watch this space. Wingco

- - - Updated - - -

The 'pot' is a myth, sorry. Wingco

[Hakster]

Re: Compass debt company

Thank you Wingo, please keep me informed, enjoy your holiday.

[Wingco]

Re: Compass debt company

Yes forms filled out, hoping they've been received-that sort of why I want to pass on my email address to committee in the hope they can make sure it's forwarded to liquidators. With regards to my own debts, I've faced creditors directly and finalising new terms & conditions with new monthly payments.

Please send the forms direct to the liquidators, if not already done so - there are perhaps 2000+ clients and we can't handle that volume of work!!!!!! Equally, the liquidators are being swamped with emails and it will take them ages to answer everyone. Wingco

[Hakster]

Re: Compass debt company

Beginning to be grateful that I didn't sign or return any Abbey Solicitor form. May have been an extra headache.

[Wingco]

Re: Compass debt company

I too have been taken for a ride by Compass. Part of the pitch was they would help me clear my debts quicker than the plan I was already on with one of their competitors. Hindsight is a great thing once you've got it. I've sent forms to AABRS about a week ago (hopefully to get there before this last weeks meeting), but unsure if they've been received. I'm trying to figure out how to get in contact with the committee that have a page here-they are collecting email addresses of Compass customers who feel they've been stung-any help anyone please?

Hi Hakster, I am a committee member. Another member is setting up an email address that we will use for mass mailings and updates. There is no rush as wheels grind exceedingly slowly - The Bournes DMP Liquidation is still ongoing nearly 3 years downstream. We have a strong team with an 'independent of AABRS' liquidator and tax specialist, 2 company directors and Andy who is the guy setting up the email - he is someone who authorises certain skilled tradesmen and is very proactive and useful, very switched on.
As soon as we have the system set up you can email us with your details. Once you have made 3 posts on here you could Private Message (PM) me with your name and email.
It will be 3-4 weeks before we get anything back from AABRS. The committee will probably Skype video conference each other but really we are there to represent the Group aims and not individuals.
Please note that I am off to my villa in France in the Bentley Continental on Tuesday for 2 weeks, and WiFi is not that great and very expensive, so I will be taking a low profile until 17th April.
It is most unlikely there is much more than £22,000 (should be at least £2,000,000) in the Client account. But we have a plan..............
Wingco

[EXC]

Re: Compass debt company

Yes forms filled out, hoping they've been received-that sort of why I want to pass on my email address to committee in the hope they can make sure it's forwarded to liquidators. With regards to my own debts, I've faced creditors directly and finalising new terms & conditions with new monthly payments.

Well done.

[Hakster]

Re: Compass debt company

Yes forms filled out, hoping they've been received-that sort of why I want to pass on my email address to committee in the hope they can make sure it's forwarded to liquidators. With regards to my own debts, I've faced creditors directly and finalising new terms & conditions with new monthly payments.

[EXC]

Re: Compass debt company

Hello, our story has so many similarities to what I've read. We were already in a DMP (although I wasn't happy with the fees & services). We took a cold call (phone) one evening and were taken in by the sales pitch and thought the idea of a 'debt counsellor' visiting us at home was a nice idea. The 'Counsellor' came round at the agreed time-within an hour or two he had our signatures on a Compass 'bespoke' plan where we paid X per month, half this would be paid to creditors and half would initially pay Compasses fees then the rest would accumulate into a pot of money so Compass could eventually address creditors and negotiate a full and final settlement and have our debt noticeably reduced in the process. No exact timescale or reduction figures could be defined although requested. I also questioned the bacs fees when Compass distributed money to creditors thinking that's money being wasted but was told its in the terms & conditions. Compass have charged just over £3,000 for a service which wasn't completed and had just over £6,000 in this so called savings pot. We're a good £9,000 down at the moment with £4,000 paid off debts.

Jeez ok. Have you completed and sent the creditors form? If not see here http://lbcompare.co.uk/wp-content/up..._Creditors.pdf

What are you doing with regards to paying your creditors? Have you spoken to StepChange?

[Hakster]

Re: Compass debt company

Hello, our story has so many similarities to what I've read. We were already in a DMP (although I wasn't happy with the fees & services). We took a cold call (phone) one evening and were taken in by the sales pitch and thought the idea of a 'debt counsellor' visiting us at home was a nice idea. The 'Counsellor' came round at the agreed time-within an hour or two he had our signatures on a Compass 'bespoke' plan where we paid X per month, half this would be paid to creditors and half would initially pay Compasses fees then the rest would accumulate into a pot of money so Compass could eventually address creditors and negotiate a full and final settlement and have our debt noticeably reduced in the process. No exact timescale or reduction figures could be defined although requested. I also questioned the bacs fees when Compass distributed money to creditors thinking that's money being wasted but was told its in the terms & conditions. Compass have charged just over £3,000 for a service which wasn't completed and had just over £6,000 in this so called savings pot. We're a good £9,000 down at the moment with £4,000 paid off debts.

[EXC]

Re: Compass debt company

Have u got this will it help....I feel I need to be doing something. I need to help

It's Amethyst's e-mail and she's probably feeding the kids at moment so bear with her.

Don't panic, you're not going to be able to solve your issues immediately. In the meantime do what Amethyst suggested with the links she gave you.

[Deejay50]

Re: Compass debt company

Have u got this will it help....I feel I need to be doing something. I need to help