FCA petition for Total Debt Relief Limited to be wound up.

[Legal Beagles]

On 11 September 2018, The Financial Conduct Authority (FCA) obtained an urgent High Court Order appointing a Provisional Liquidator in respect of Total Debt Relief limited (TDR), to protect its customers’ money.*The FCA is also petitioning for TDR to be wound-up, the petition for this will be heard at a…

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[Amethyst]

Who to contact

For queries relating to the firm


Customers should contact the Provisional Liquidator if they are concerned, or for any updates.

The Provisional Liquidator will gather as much information as possible from creditors and clients of the firm about payments made to, or owed by, the firm. Customers of TDR who believe that they are owed money by the firm should contact TotalDebtRelief@griffins.net as soon as possible.

They will ask you to provide the following information:

• client reference number
• copy of the signed agreement initially entered into with TDR
• full name
• address and contact details
• brief summary of claim

Customers can also contact our Consumer Helpline for further information

Should you have any concerns with TDR’s conduct, then please submit a report to: https://www.actionfraud.police.uk/report-a-fraud-including-online-crime (link is external) using the reference number: NFRC180902502899 For advice on outstanding debts


We encourage customers who have set up a direct debit with TDR, or who pay TDR by standing order to contact their banks to cancel the arrangements.

Customers who need advice on outstanding debts can contact the Money Advice Service. The Money Advice Service is a free and impartial service set up by government. You can contact them online at www.moneyadviceservice.org.uk/debt-management (link is external) or by phone on 0300 330 2222. Calls cost no more than a standard UK-wide number. The Money Advice Service will be able to discuss your situation with you for free and could help you to set up a similar arrangement to manage your debts. What we are doing


We will write to all affected TDR customers to advise them of the free help and advice that is available to them.

Ensuring the debt management sector works well is a business plan priority and we are part way through our second thematic review of the debt management sector the findings of which will be published in March 2019. Further information regarding this review.

We refuse to authorise firms that do not demonstrate that they meet our minimum standards or follow our principles, particularly in relation to treating customers fairly. As part of this work, we are engaging with debt management firms, trade bodies, banks and creditor organisations to ensure that customers who are affected by firms leaving the debt management market are treated fairly.

[Amethyst]

Horse, Stable etc............


The requirement is that with immediate effect from the acceptance of this application, Total Debt Relief Ltd will not transfer client money to Barrington Lewis Law Limited (Company No. 07310778) trading as Madison Legal. ( requirement is effective from 11 December 2017 )

( I thought Barrington Law shut down in 2016 https://www.sra.org.uk/consumers/sol...544078.article -

23 May 2017

Final Gazette dissolved via compulsory strike-off

View PDF Final Gazette dissolved via compulsory strike-off - link opens in a new window - 1 page (1 page)

Total Debt Relief LTD. is a debt adjuster under Consumer Credit License 0642742 and regulated by the Financial Conduct Authority (FCA). We are not a “traditional” Debt Management Company and as such, do not administer debt management plans. Our website can be found at http://www.totaldebtrelief.co.uk Our sole purpose is to achieve suitable settlements on each of your accounts during the term of your plan. Unlike other debt relief options this program will not cause a public record to be placed on your credit profile.

At no additional cost to you, entering our debt relief plan will provide you with legal representation through our exclusive partnership alliance with Madison Legal. Madison Legal is a law firm, specialising in consumer credit law and financial negotiations. The firm is regulated and authorised by the Solicitors Regulatory Authority S.R.A Number: 607465 They can be found on the web at http://www.madisonlegal.co.uk

“Madison Legal” is an authorised agent of Minus 5 Media Ltd trading as: “Madison Financial” under Consumer Credit Licence Number: 642362. “Madison Legal” is regulated and authorised by the Solicitors Regulatory Authority Branch Number: 622620 and Barrington Lewis Law Ltd (S.R.A number: 544078). A list of list of its the officers is available at its registered office which can be found at Companies House under Company Number:07310778. I.C.O Number: Z2335005. We do not except service by email.

https://beta.companieshouse.gov.uk/o...A/appointments



First Supervisory Notice from the FCA
https://www.fca.org.uk/publication/s...relief-ltd.pdf

Owing to its business model as a ‘full and final’ debt settlement firm, the Firm’s clients have accumulated significant amounts of client money held within the Firm. The potential for some or all of that client money to be paid to a third-party in upfront fees may make the Firm customer base an attractive proposition to a buyer. The Authority further notes that the Firm’s terms and conditions potentially allow it to (broadly speaking) transfer customers to a third-party Firm.

Broadly speaking, the Service involves:

a.

The provider of the Service collecting, from the customer, details of the individual debts owed by that customer.

b.

The provider of the Service proceeding to write to each of the customer’s

creditors, requesting copies of the written information (for example, the

contract) that the creditor was required to provide to customers under the

Consumer Credit Act 1974

.

c.

The provider of the Service receiving and assessing copies of the written

information provided to the customer at the commencement of the credit

relationship with the creditor

. In the event that the documentation provided

does not contain all of the required information, or is otherwise insufficient

to demonstrate adherence to the Consumer Credit Act 1974 and associated

Consumer Credit (Agreements) Regulations, the provider of the Service will

advise the consumer of that fact, and/or may directly challenge the

enforceability of the debt owed to that creditor, with the aim of convincing

the creditor to write off or reduce the balance of the debt owing.