Debt Management Regulation ?

[DB-PROJECTS]

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Does anyone know what the timescales are for Debt Management to be regulated.

From what I have been told

The DM company will only be able to charge a 10% fee per month

No more keeping 1st payments etc


Does anyone know anymore about this

[123debtsolutions]

Who cares.. What a pointless post..

Stop wasting your time trying to be a smart a**e and get busy working. Or spit it out.. Cos your obviously trying to say something...

[DB-PROJECTS]

Who cares.. What a pointless post..

Stop wasting your time trying to be a smart a**e and get busy working. Or spit it out.. Cos your obviously trying to say something...

Whos cares? you do because you have changed your post twice,

Thought what I was trying to say was written in my 1st post but just for you I will repeat it since you didnt understand very well. PM me if you need it making anymore clearer.

Does anyone know if it is TRUE that DM regulation will only allow the DM company to charge a monthly fee of 10% of the DI. Does anyone also know when this is being introduced ?

Not trying to be smart at all.

I have been asked if I want to buy a DM back book and was seeing if it was actually worth doing costs wise.

Now fair enough you dont know the answer but someone else might,

I cant seem to find out any information about future regulation and fee structure.

Thanks in advance for any helpful posts.

[LBClaims]

This may help you - I haven't heard of the 10% limit myself but they may have - Untitled Document

[DSSJBW2000]

I've been involved in DM for 8 years now and regulation has been banded around for a long long time and never materialised. Although I feel that it would be a good thing, any form of regualtion would not be brought in 'overnight' it would take months to be put through. I had heard talk of TIX getting involved to regulate it, but again I first heard about this 2 years ago and as of yet there's not been any movement from them. I certainly think as we go through the time of the 'credit crunch' eyes will be focused a bit more on DM firms, not quite sure how the capping of fees would be brought in as well as the non holding of first payments etc. Most firms would just skirt round this problem by getting the client to pay an 'admin fee' or something else instead. Plus it would be very difficult to introduce fee capping to what are essentially private firms. I feel if regulation were to come in, it wouldnt be in the form of fee capping, but more of a "heavy on compliance" side. This is just my opinion and hope it helps! If you dont fancy buying the back book that's been offered to you, perhaps you give me some info on it!!