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Won FOS Case But Company Won't Pay

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  • Won FOS Case But Company Won't Pay

    I won a prolonged and drawn-out case against a payday loan company and was awarded just over £1,600 in refunded charges and fees. At the point that I won the case, the company director announced that the firm had ceased trading and had no funds. Then he said he wanted to pay by 15 installments and then changed his mind offering £10 a week.

    The FOS were unable to offer further advice about what to do next? The case has been reported to the Financial Conduct Authority. Citizens Advice have said they will report to Trading Standards, but couldn't help further. The company had a proposed strike-off at Companies House, which was refused a couple of weeks later. Companies House have advised me to object to the strike-off, before the firm goes bust.

    I have a final and enforceable decision - so I'm assuming I can avoid mediation and go straight to court? But I'm wondering, if the director has asset-stripped the firm already - then I won't get anywhere with a court case? I contacted the Financial Services Compensation Scheme, but they said they don't cover this sort of thing.

    Not really sure where to turn next?
    Tags: None

  • #2
    Re: Won FOS Case But Company Won't Pay

    http://www.financial-ombudsman.org.u...s-decision.pdf

    I would be surprised if you see any of the money though..

    Comment


    • #3
      Re: Won FOS Case But Company Won't Pay

      Yeah I've been using that as a guide and getting nowhere...

      Comment

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