Debt management bosses banned

[EXC]

''Debt management bosses banned after transferring half-a-million from own companies

Two bosses have been disqualified for a combined total of 23 years after transferring more than half a million pounds from their own debt management companies.....''

https://www.gov.uk/government/news/d...-own-companies

Together GBFS and OT received payments from customers into debt payment plans and offered a ‘credit resolve’ product, which attempted to challenge the enforceability of credit agreements signed by their clients, as well as reclaiming PPI payments.

Although this was a legitimate service.....

[Amethyst]

Disgusting that it takes so long to deal with these things.

GBFS and OT entered into administration in October 2014.

Andrew Brooke (45) and Gary Gregson (38) have been disqualified for 13 and 10 years respectively and are now prevented from acting, directly or indirectly, as directors of companies.

Gary Gregson was the main director of Gregson and Brooke Financial Services Ltd (GBFS) and One Tick Ltd (OT). The companies provided debt management services to people in financial distress, helping them to come to agreements with their creditors and pay down their debts.

The companies operated through various different trading names, including Expert Money Solutions.

Together GBFS and OT received payments from customers into debt payment plans and offered a ‘credit resolve’ product, which attempted to challenge the enforceability of credit agreements signed by their clients, as well as reclaiming PPI payments.

Although this was a legitimate service, GBFS and OT would pay minimal contributions to the credit providers from their clients’ debt payment plans, while keeping a significant portion of their clients’ money to go towards ‘service fees’.

Some customers complained to the Financial Ombudsman that their debts had increased, despite having paid money into their debt payment plans.

Information on the Directors

Gary John Gregson lives in Manchester, having previously resided in Bolton.

Andrew Roy Brooke lives in Digos City, Philippines, having previously resided in Bolton.

Shalles Fee Onido lives in Digos City, Philippines.

Nova Espoltero lives in Davao City, Philippines.

How lovely for Mr Brooke, so it'll have pretty much zero affect on him then.