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Government to wind up Bolton debt management firm
The government is petitioning to wind up a Bolton-based debt management company “in the public interest”.
123 Finance Ltd was set up in June last year and was based on the Navigation Business Park in Waters Meeting Road.
It signed up people in financial difficulties to a debt management plan and charged fees for attempting to negotiate a settlement with their creditors.
The court action by the Department for Business follows an investigation by Company Investigations Directorate of the Insolvency Service. The Official Receiver has been appointed provisional liquidator of the company with the power to seize assets.
The Insolvency Service said the case would go before the High Court on June 1 and no further information will be released until then.
123FinanceLtd
The government is petitioning to wind up a Bolton-based debt management company “in the public interest”.
123 Finance Ltd was set up in June last year and was based on the Navigation Business Park in Waters Meeting Road.
It signed up people in financial difficulties to a debt management plan and charged fees for attempting to negotiate a settlement with their creditors.
The court action by the Department for Business follows an investigation by Company Investigations Directorate of the Insolvency Service. The Official Receiver has been appointed provisional liquidator of the company with the power to seize assets.
The Insolvency Service said the case would go before the High Court on June 1 and no further information will be released until then.
123FinanceLtd
