Dunne & Maxwell

Whisper87

Hi folks,

With the way the country has gone, i've had to look for a way to manage my debts better. I owe out a fortune, but simply cannot afford to pay everyone back as my partner was let go over a year ago. I've been juggling, and robbing peter to pay paul etc but have now realised i need some help.

I started googling and came across Dunne & Maxwell, they have given me an excellent solution which really helps, but of course there is a high fee involved - it still seems to be my only option though. Tried MABS, but they are out the door with people and it'll be a few weeks before they can arrange an appointment for me.

Has anyone gone to them for help?

Markdini

Hi,

I called some of these companies when i was experiencing some difficulties myself, alot of them didn't instill any confidence.
Dunne & Maxwell in particular. I didn't like the way they tried to sign me up. I went through a quick list of my outgoings, then they asked how much i think i can pay.
When i worked it out myself, what i could realistically afford was below the level i thought. What D & M had done was take the figure I thought i could pay and ignored the real figure altogether. Kinda underhand when they get paid on a commission basis don't you think?
I came across this with a number of different companies to be honest.
You may not need one of these companies. Some of them have free online tips, if you have the time you may well be able to do it yourself.

Best of luck,

Whisper87

Markdini wrote: »

Hi,

I called some of these companies when i was experiencing some difficulties myself, alot of them didn't instill any confidence.
Dunne & Maxwell in particular. I didn't like the way they tried to sign me up. I went through a quick list of my outgoings, then they asked how much i think i can pay.
When i worked it out myself, what i could realistically afford was below the level i thought. What D & M had done was take the figure I thought i could pay and ignored the real figure altogether. Kinda underhand when they get paid on a commission basis don't you think?
I came across this with a number of different companies to be honest.
You may not need one of these companies. Some of them have free online tips, if you have the time you may well be able to do it yourself.

Best of luck,

Thanks for the reply Markdini!
I worked out all my outgoings myself and with some of the places i've agreed amounts to pay, but can now not meet them anymore, i've also got a big loan with my credit union, who i've stopped paying them altogether... With D&M, i can pay everyone back, a small amount a month and will now be able to afford my bills. The girl said i can increase or decrease my payment whenever i need to. For me this seems to be the only way forward...

If you don't mind me asking, how did you get out of it all?

Markdini

I had 2 Car finance, 2 credit cards, a personal loan and an overdraft.
Honestly it wasn't the easiest situation in the world to deal with but I figured i would do it myself.
You need to make the tough decisions. I got rid of both cars using the 50/50 rule. I then worked out my income and expenditure and submitted that to the remaining institutions.
The new repayments are lower than original but what can the unsecured lenders do? You get that message from the debt management companies.
I did some research and you find some interesting facts.

Here are the tools you should use;

- The creditor must prove you CAN pay, you don't prove you can't pay.
- Make an offer to them on a pro rata basis, he who is owed most, gets most.
- Stick to the amount offered, unless circumstances change.
- If circumstances change, clearly outline this to the credit union, and the new offer to be made.
- Don't be intimated by calls or letters, if the debt is sold/passed to a debt collector they will accept a monthly repayment.

Debt Management seems like every other industry, you can paint your own house or pay somebody to do it for you(may be more experienced but with enough time and attention you will prevail). You can manage your own debts or pay somebody to do it. The outcome will be the same.

Use the above information as i did, stay calm, confident, keep note of names and copies of letters. You won't know yourself in a few months time!

If you need help with any figures please feel free to contact me.

Kindest

Jaysoose

Avoid dunne and maxwell like the plague, they will take any money you pay them to cover their fees and pay themselves before your creditors see a cent.

Depending on how much you pay every month it could be 6 months or more before the people that you actually owe money to see any.

E.G.

if you agree to pay 100 to D&M per month for them to service your debtors and D&M's fee is 600 then they will pay themselves for 6 months to get their own 'fee' and only then will they start to pay your debtors.

They do nothing that you cant do yourself and they will claim to have agreements with banks, credit card compaines which allow them to get special rates etc...this is false..also they operate in an unregulated market so when they have you signed up you have no recourse.

Joe duffy had them on last year and the amount of people ringing in was scary, the managing director came on and didnt do himself any favours with his attitude.

AVOID AVOID AVOID....

Markdini

Not all of these companies are the same however, some do provide a good service that people do need. MABS is also a part of an unregulated sector.
Do your homework and you can't go wrong. Some people may well find that these companies do remove alot of stress in life!

chris85

Markdini wrote: »

Not all of these companies are the same however, some do provide a good service that people do need. MABS is also a part of an unregulated sector.
Do your homework and you can't go wrong. Some people may well find that these companies do remove alot of stress in life!

MABS are different. They are all in an unregulated market but mabs have agreements with all the banks part of the IBF, its known as the mabs protocol. They can do a lot more than the other ones. Unfortunately they are underfunded and overrun which is bad. The mabs protocol has a set procedure that mabs and the banks will follow to work together.

Dunne and maxwell are average to poor at what they do.

Jaysoose

Markdini wrote: »

Not all of these companies are the same however, some do provide a good service that people do need. MABS is also a part of an unregulated sector.
Do your homework and you can't go wrong. Some people may well find that these companies do remove alot of stress in life!

99% of these companies are the same and are relying on people not being aware of the fact that they are unregulated.

They provide nothing a trip to mabs or the bank manager cant help people with and to be honest i hold them in contempt as they rely on people being desperate and exploit their lack of knowledge.

ger.sweeney

I was just reading your posts i to was caught with their false information
and when you go back looking for the person you originally started out with
they seem to be gone on long term leave I got caught for €490 and not a cent
paid to my creditors and they told me that when i paid the next installment that
they would pay creditors . They have really jumped on the band wagon with
MABS having a waiting list they are wrong and should be investigated

Markdini

Not all creditors are covered under the IBF MABS protocol, currently there are 178 registered members of the ICB, 33 more with membership pending.
The protocol covers 14 of these. Using MABS statistics 6,129 people approached them in Q1 2010 for issues with lenders, ultilities and various other issues that are not covered in the protocol.
This industry does need to be regulated, are are some rather unscruplous people/companies looking to make a quick buck but it is the same in nearly all other industries.

gravey1986

Hi All

I was having the same problems as most of you. The waiting list at mabs was just to long for me to wait, I had creditors on my back and was getting very stressed. I found Dunne Maxwell online and went with them and had a great service.

All I know is that I now pay less back to my creditors then I did and I can afford the payment, and also the phone calls from my loan and credit card companies have stopped.

Couldn't ask for anymore really.

Cheers
Gravey

ger.sweeney

Hi
Well you must have one of the lucky ones i had made 2 full payments to D&M
and i had to beg them to pay my creditors as i got 3 months in arrears with
them you do realize that the onus on the debt is still yours not on D&M they
can walk away anytime from it they are not a regulated finance company so if
D&M did not pay your creditors for 2 or 3 months it comes back on you.
Did they tell you how long you would be paying them ? I was told a time how long but suddenly now its far longer time limit and the person in the company
that told me that is conveniently missing now .
Its a bit ironic gravey that you make this thread this week a Mr Murphy the MD
im led to believe was to ring me back 1 day ago but never did strange .
Well anyway best of luck to you

gogo

gravey1986 wrote: »

Hi All

I was having the same problems as most of you. The waiting list at mabs was just to long for me to wait, I had creditors on my back and was getting very stressed. I found Dunne Maxwell online and went with them and had a great service.

All I know is that I now pay less back to my creditors then I did and I can afford the payment, and also the phone calls from my loan and credit card companies have stopped.

Couldn't ask for anymore really.

Cheers
Gravey

If this wasnt your first post, i might have believed you, might have..(probably wouldnt have though.)
So off you go and shuffle back to your desk at D&M and pedel your wares there.

Op, Markdini has given some good advice here, if you can't wait on Mabs and are unable to do it yourself, head in to your local bank branch and arrange a meeting with a customer advisor and sit down and talk it through, you'll be surprised at how much they would be willing to help. Otherwise, drop markdini a pm, and let him go through the figures for you and see can he offer advise, he seems to be doing it right. (and he has offered to do this:)).

None of these option will cost you any money, nor should they, anyone who needs help should not have to pay for it, that only add's to the problem, and the irony of it is really quiet laughable.

Jaysoose

gravey1986 wrote: »

Hi All

I was having the same problems as most of you. The waiting list at mabs was just to long for me to wait, I had creditors on my back and was getting very stressed. I found Dunne Maxwell online and went with them and had a great service.

All I know is that I now pay less back to my creditors then I did and I can afford the payment, and also the phone calls from my loan and credit card companies have stopped.

Couldn't ask for anymore really.

Cheers
Gravey

LOL nothing like a company registering under a false name to defend themselves while claiming to be a happy customer.

IS this Dunne or Maxwell?

Whisper87

Op here!

I've let D&M handle my debts and so far they seem to be doing what they said they would...

I have missed 2 months payments with 2 of my creditors and have not had one call from them, whereas this time 3 months ago, i was bombarded by 3 or 4 calls a day from one of them...

I do know that they haven't got complete control over them all yet, i think 2 out of 4 so far, but like i said i have not had any calls...

I'm going to give them a call today, to give them a push as i'm wondering whereabouts they are now with things!

Will give you an update when i have one!

ger.sweeney

Jaysoose wrote: »

LOL nothing like a company registering under a ill try false name to defend themselves while claiming to be a happy customer.

IS this Dunne or Maxwell?

Jaysoose you got it in one lol they will try anything well im not finished with
them yet i will expose them what they tried with me because there is people out
there with them who are far seriously in debt than me and are caught by all the
hidden charges and false statements and they are not monitored by any state
agency like the developers who had it good now these crowd jump on the
bandwagon to make money .