FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financial Co

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

Yes please email him, or telephone

something like.................



Dear MR Boorman,

Enofrcement of Money Award from Financial Ombudsman

I was awarded a Money Award of £6k by FOS (see attached adjudication) on XX DATE XX and to date the respondent has failed to make payment. The company concerned is subject to a requirement by the FCA and is under investigation by the Claims Management Regulator (Ministry of Justice) and is unlikely to be continuing as a business. I need to apply for enforcement of the Money Award as I believe is my right under the Financial Services and Markets Act 2000 Schedule 17 paragraph 16.

Enforcement of money awards

16A money award, including interest, which has been registered in accordance with scheme rules may—

(a)if a county court so orders in England and Wales, be recovered by execution issued from the county court (or otherwise) as if it were payable under an order of that court;

Unfortunately despite attempting to apply for a warrant of execution to enforce the money award through the County Court I have been able to do so, and the court wishes me to file a new money claim in the small claims court - this will be a defendable action, take a minimum of 28 days if the case is undefended to obtain an Judgment, and a further 28 days before I would be able to apply to enforce the Judgement. I'm sure you can understand my concerns that the company will no longer exist by that time and speed is of the essence.

The Financial Ombudsman took XX months to reach their decision already. Do I need to ask the adjudicator to endorse the legal enforcement of the award to enable it to be enforced by Court?

I really hope you will be able to offer some advice and guidance, and confirm whether I do indeed have to start again through the court system.

You can contact me on TELEPHONE and EMAIL .

Thank you for your time and consideration.

xxxxxxxxxxxxxxxxxxxx

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

and if you speak to him tell him the FOS need to put out better guidance on what to do if a Money Award is not paid within a certain period.....and train the courts ......

That ' IF ; in the FSMA is the bugger in this.

You could link him to the MOJ and FCA investigation and requirements too.

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

Not yet. I'm just about to email him. I've been crazy busy this week. I'm not really sure what to say however as I think the response I will get is that they can't give legal advice and they don't get involved once they've completed their work (which is basically what I've already been told)/.

Also he did seem interested and asked for you to get in touch. I've Tweeted him again so be good if you can email him today.

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

Just asked again in a different way.

Financial Ombudsman @financialombuds 4m @LegalBeagles We'll take this @boorman_tony! If a consumer accepts an award it's binding & can be recovered by execution issued from a court

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

I've emailed him (not with what you put. I think I must have been writing my email as you wrote that). Hopefully I'll get a response.

This is what I put

We were awarded a final decision in our favour against Grassroots/Debt and Claims Limited on 23rd April (reference ). The matter has been dealt with by S.


Sarah has been extremely helpful throughout the matter and after me reporting that we had had no response from the business was chasing them up on our behalf.


After discussing how to progress further she felt that the Financial Ombudsman service had done all that they could and that we would need to enforce the decision through the courts.


She has forwarded me your factsheet however this doesn't actually explain what the process to do this is. Also when contacting to Courts for advice I am being told that I will need to open it as a new case (at a cost for £200 at least) which the business can then argue again despite your final decision already been given. I have quoted to them that it needs to be drawn to the attention of the enforcement officers as per your guidesheet but have been advised that without going through the money claims process we cannot get the decision enforced.


Can you clarify this. I understand you cannot give legal advice but I believe you should be able to give proper guidance on how to have the decision enforced. We now feel that we are left back where we were 18 months ago when we first started the process with yourselves with no contact details for anyone at the business or any proper guidance as to what we are to do next.


I would appreciate some guidance as to what process we need to use to enforce this decision. I understand that this is a very unusual situation but feel that it will benefit both ourselves and your organisation to be able to explain the process should this occur.

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

It's how you get the court to execute it that seems to be the sticking point. The Courts seem to think that although the judge will accept the FOS decision it still has to go through the process as if it was a money claim.

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

The problem is that holds up when you can go to enforcement because they get their 14/28 days to defend, then you have to apply for default judgment, then wait 28 days for them to not pay, before you can apply for a warrant of execution.

Maybe the MoneyClaim just wants to say you have a money award and basically, can the judge pass it for enforcement..... ??? rather than going through the whole claim again.

Your letter is better than mine anyway xx

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

No they've said that I have to go through the process of 14/28 days which as you say holds up the whole thing. Not forgetting the 5 days for processing

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

flaming daft isn't it.

Well see if you get anything worthwhile back today, otherwise you really have no choice than to comply with what the court say because it needs starting off.

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

definitely. Just got to work out where to find the £200 from

[EXC]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

Not sure if you've seen this - 'Enforcing an Ombudsman's decision''.

''In England and Wales ask the County Court to order that the money award be recovered by execution issued from the County Court as if it were payable under an order of that court ......Because it’s unusual for our decisions to have to be enforced, many courts and legal representatives are unfamiliar with the process. So it may help to show them this factsheet.''

EDIT oops Ame got there first.

[Nibbler]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

Make a complaint to the court manager saying that their staff are refusing you your legal right to enforce an award.

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

I've put a FOI request in, not really sure what for but numbers, communications etc relating to enforcement of awards through court.

To MOJ and to FOS.

Hopefully Tony Boorman will get back to Naptime in a slightly more helpful way than a link to the FSMA.

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

Hi Naptime have you got anywhere with FOS ?

[Clio666]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

Hi

We have received a letter as shown in thread 18 of this discussion and I'm after some advice. Our story is pretty much the same as others who are dealing with this hideous company; but we didn't go ahead and sign the DMP as my husband got suspicious and when we were told how much a month we would save from our creditors by paying grass roots we knew it just wasn't right! But we had still paid over £489 per month for three months prior to this information by not paying our creditors on the grass roots agents say so; and have since been repaying that debt directly now to our creditors, which in turn has created a bad credit report. We knew we had been scammed and after all the stress of finances at that time we just were glad to brush grass roots under the carpet!!
so at the moment we are not current clients but after receiving that letter and realising that they have our money,as it would not have had any creditors to pay, are we likely to get it returned now the fca have issued the requirement notice?? Is there anything I have to do to to ensure any money is returned to us? Personally I think the company is just gonna run and not pay anything out as other people are experiencing that at the moment. After reading other peoples threads on their dealings I know that we are probably the luckier ones to not have gone ahead with the DMP, but we are still bearing the brunt of the financial implications of having paid them money for a service we obviously was never going to receive.