Terms and Conditions

 

The agreement between You and Us is made on the following terms:

 

Definition of Terms

Us

DCM Money Solutions, which is a trading style of Apex Debt Counselling and Management Limited, Registered Office;
3 Hope Drive
The Park
Nottingham
NG7 1DL

Consumer Credit License number: 05534642 Data Protection Registration Number: Z5631595

 

You

Our client, whose name is recorded overleaf (and partner where any of the debts are in joint names).

 

Creditors

Any and all of your unsecured Creditors whose details You will provide to Us in accordance with section 1

 

Debt Management Programme

A plan of repayments produced by Us in accordance with section 2.3.

 

Full and Final settlement

A Full and Final Settlement of your Creditors at a reduced rate as negotiated by Us on your behalf.

 

Period

The period during which the Debt Management Programme is in operation.

 

Fees

The fees to be paid by You to Us in accordance with the Debt Management Programme or Full and Final Settlement.

 

See our fees schedule below

 

Complaints

Complaints should be made in writing to The Manager, DCM Money Solutions, 3 Hope Drive, Nottingham, NG7 1DL

 

 

Agreement

You request Us and we agree to provide You with a debt counselling advisory and adjusting service in accordance with these terms and conditions. You authorise Us to negotiate on Your behalf with Your Creditors. This agreement shall continue until final repayment of the Creditors is made in accordance with the Debt Management Programme, unless it should have been terminated beforehand in accordance with section 4. Apex Debt Counselling and Management Limited will find an appropriate solution for You and advise You throughout the process of that decision.

 

1. Your responsibilities

 

i. You agree to exclude Us from any liability as a result of signing this document.

ii. You understand that this payment plan is completely flexible, meaning You can increase or decrease payments when necessary, please note that any changes will result in a new proposal being sent to each Creditor.

iii. You will pass on all information requested by Us as soon as possible, including creditor accounts and details. You will also keep Us informed of any changes to your Creditors or to your income and expenditure.

iv. On occasion your Creditors may not provide Us with details of your accounts due to their company policies. If these circumstances arise then You will request this information on our behalf and provide it to Us.

v. You will sign any necessary forms of authority or provide Us with security passwords on your accounts so that we may negotiate with your Creditors on your behalf and carry out our obligations under this agreement.

vi. The monthly payment is intended to be affordable to You, if you have any problems maintaining it please let Us know.

vii. Once the Debt Management Programme has been agreed, You will not make any expenditure over and above your reasonable living expenses as calculated in the Debt Management Programme. You will not Use your credit cards nor incur further debts.

viii. If You do not maintain regular payments we will suspend any action and payments on your account. Your Creditors may have to be informed that payments are not being maintained. This may result in your Creditors continuing legal action against You for which we cannot be held responsible.

ix. Non contact from You will not be considered cancellation of the agreement. If any funds are owing to You then written confirmation will be required to release funds owing to You in accordance with section 4 of this agreement

x. You remain responsible for continuing to pay your priority debts, (including insurances). Which include those where non-payment could result in loss of property, essential services or imprisonment, e.g. mortgage, rent, gas, water, electricity, council tax, court fines and maintenance and secured lending. Secured lending is loan where security is given by the person borrowing (usually property but may be certain types of vehicle finance). If you fail to pay a secured loan, the property may be repossessed.

2. Our responsibilities

i. All of the information You share with Us will be treated with the strictest confidence

ii. Apex Debt Counselling and Management Limited will only act with your authority

iii. We will review your finances, covering your income, expenditure, debts and assets. We will calculate your disposable income based on reasonable living expenses.

iv. We will advise You on an appropriate solution to suit your individual circumstances and write to You with your options.

v. We will produce a debt management plan for your approval, to pay your unsecured debts each month. It will not take account of any matters You have not told Us about in accordance with section

vi. Apex Debt Counselling and Management Limited Debt Management Programme is intended to be a short to medium term solution to your financial circumstances. We will aim to find a long term solution as soon as possible.

vii. We will negotiate with your Creditors and will attempt to agree repayment terms with them of the amounts outstanding.

viii. We shall attempt to agree with your Creditors that any further interest and charges are suspended and that they withdraw any legal action issued. In rare incident County Court proceedings may still be taken against You. In these cases we will deal with all the necessary paperwork. We cannot guarantee to stop any legal action by your Creditors.

ix. During the negotiation process some Creditors may continue to charge interest and add charges. We cannot always prevent these charges and they will be paid in accordance with your account.

x. Should your circumstances change during the debt management plan we will review your account and advise the next step to take.

xi. We shall make payments to Your Creditors in accordance with the Debt Management Programme.

xii. A full breakdown of all payments we have made can be obtained on request.

xiii. From time to time your Creditors may request an update of your financial situation. We will contact You to review your current financial situation and update your Debt Management Programme accordingly.

xiv. We can only provide advice on the services we offer.

xv. If undertaking Full and Final Settlements it is the intention of Apex Debt Counselling and Management Limited to negotiate the best settlement possible

xvi. There is no additional charge for starting negotiations for a full and final settlement but Apex Debt Counselling and Management Limited charge 30% of the amount saved on each account.

xvii. Apex Debt Counselling and Management Limited offer no guarantee that full and final offers will be accepted, but will do their best to negotiate on your behalf.

3. Fees and Payment Process

i. As the majority of the work takes place at the beginning of the debt management plan Apex Debt Counselling and Management Limited may retain up to the first three (3) monthly payments. The first month’s payment being retained in its entirety and with a nominal monthly payment being made to each creditor for months two and three if applicable.

ii. Your subsequent monthly payments cover payment towards your Creditors from which we shall deduct a monthly admin charge of 15%.

iii. The agreed monthly payment should be maintained. Should, for any reason You fail to make your monthly payment, Apex Debt Counselling and Management Limited reserve the right to charge the missed admin fee.

iv. If no payment is received from You for 90 days or over, we will charge a further initial fee when You rejoin the plan and monthly admin fees will apply thereafter.

v. Payments can be made to Us via standing order and direct debit. Other forms of payment will be at the discretion Apex Debt Counselling and Management Limited.

vi. If a payment is missed Apex Debt Counselling and Management Limited will contact You direct to establish the reasoning behind this.

vii. Payments will be distributed to Creditors via cheque and BACS transfers

viii. All payments to Us will be made in to our client account. This account is separate to the business account and is used for the sole purpose of funds distribution. No interest is earned or payable to You on funds that we hold. You are responsible for payment of all household expenses; we only undertake to manage your unsecured debts.

4. Termination

i. On receipt of your first payment we will issue You with a Welcome letter and client proposal form for checking. If for any reason You wish to cancel the agreement, we allow a seven day cooling off period from the date on this
documentation during which You can request a full refund of any fees we have taken.

ii. After the cooling off period You may end the agreement by giving Us four weeks’ notice in writing.

iii. We will use all reasonable endeavours to refund to You any monies that we are unable to distribute to your Creditors if your account becomes inactive. Where we have made reasonable endeavours to make a refund but have been unable to do so, then after six months we reserve the right to retain any monies outstanding on your account.

iv. We may end this agreement by giving You four weeks’ notice if any of the following occur:

 

1. A bankruptcy petition is issued against You
2. You enter in to an IVA/Trust Deed
3. You complete a full and final settlement on Your accounts
4. Your debts are paid in full
5. Where information provided to Us is knowingly incorrect
6. Where the information provided by You at the time of acquiring a loan (HP agreement, credit cards or any other form of credit) is deemed incorrect or fraudulent by any creditor.
7. If we are affected by Force Majeure

Using This Website

The contents of this web site are for information only. Nothing you see or read here constitutes an offer to enter into a contract. Every situation is different. We endeavour to keep the contents of this web site both accurate and up to date. This is not always possible. In addition all information on the web site is of a general nature. You should therefore obtain specific advice before doing something or refraining from doing something as a result of anything you read on this website .

 

By using this website you acknowledge the privacy and disclaimer policies and give your consent for us to contact you by email or phone following any enquiry form that has been completed.