Spencer Hayes Debt Management in Administration as of 18th Dec - sold book to Angel

[Nibbler]

Re: Spencer Hayes Debt Management in Administration as of 18th Dec - sold book to Ang

Report is up but exceeds max file size for pdfs here.

[Amethyst]

Re: Spencer Hayes Debt Management in Administration as of 18th Dec - sold book to Ang

Ahh good, will sort it thanks Nibbles

[Amethyst]

Re: Spencer Hayes Debt Management in Administration as of 18th Dec - sold book to Ang

~Here~ http://legalbeagles.info/wp-content/...IP16Report.pdf

[Amethyst]

Re: Spencer Hayes Debt Management in Administration as of 18th Dec - sold book to Ang

'' The Company began to prepare it's application for a full [Consumer Credit] Licence during November 2014. In doing so it was discovered that the software system in place was not reconciling the client account as was previously thought. A full review was then carried out and it was discovered that there was an apparent shortfall in the client account''


( my emphasis )



The Client Database was sold for around £225k

[Nibbler]

Re: Spencer Hayes Debt Management in Administration as of 18th Dec - sold book to Ang

So the computer 'dunnit'. lol

Money doesn't vanish into thin air though.....

[Amethyst]

Re: Spencer Hayes Debt Management in Administration as of 18th Dec - sold book to Ang

Naturally... I do love all the 'discovered' crap. grrr. And seriously when your business relies on a CCL why wait till a month before the deadline to 'start preparing' your application.

It doesn't give any indication really whether creditors were paid properly or not does it?


I wonder who Fred Done is with regards Angel Advance.

''Betfred founder Fred Done'' - ahh didn't that come up before .

[Nibbler]

Re: Spencer Hayes Debt Management in Administration as of 18th Dec - sold book to Ang

No. Just shortfall in the client account.

You would imagine that meant some creditors did not get paid though, even if only just at the death when it all caught up with them.