Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

[Last]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

I wonder if the money from the sale of the clients list will go towards paying back clients or will be used for the administrator cost????

[Amethyst]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

I expect he's getting quite a deluge of angry, worried, upset emails to respond to. Just remember it isn't the administrators fault.

There IS an ongoing monthly management fee of 22% if you stick with the company Bournes book has been sold to.

You are under no obligation to stay with that company (Platinum)

Business wise they have to sell the book to get funds in to pay creditors (including customers who's monies have vanished into a big black hole)

The purchaser will expect a percentage to stay with them and a percentage to leave and go it alone or with stepchange/payplan and that will have been reflected in the purchase price.

[Amethyst]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

I wonder if the money from the sale of the clients list will go towards paying back clients or will be used for the administrator cost????

both, if there is any.

[Tools]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

However, as I have contacted all my creditors directly and have successfully set up my own repayments plans with them.

If anyone else is seeking to do similar themselves but they are unsure of how to go about it, I strongly recommend you take a look at and adapt the materials and advice given by NEDCAB Money free of charge here > https://nedcab.cabmoney.org.uk/dmp.asp

[homemakercat]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Hello, the email adddress for the FCA is
consumer.queries@fca.org.uk

Good luck

[homemakercat]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

The e mail address is
consumer.queries@fca.org.uk

Good luck

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Until any funds can be identified I would suggest a freezing order be obtained to ensure the funds are not disposed of before that determination

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Also don't forget the commercial creditors will only be entitled to the mark-up Bournes charged YOU and NOT the funds intended to be paid to your creditors

[Last]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

How do we go about ensuring those points Righty.......should the administrator be aware of this and be working in the interest of the clients and hence ensuring we get our funds back to pay the creditors we owe.

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

The money you deposited with Bournes belongs to you, not Bournes nor their 'creditors

eg Say there is £100 deposited of which £90 is earmarked for your creditors then irrespective of both their charges AND their 'creditors' their creditors should only receive £10.

Its your money not Bournes or anyone else but that's assuming the owners of Bournes haven't been dipping into it in which case its theft

[Pallawan]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

So if the Administrator announces that there are no funds is it safe to assume that the directors of Bournes have been dipping into the pot?

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

So if the Administrator announces that there are no funds is it safe to assume that the directors of Bournes have been dipping into the pot?

Quite!

[Pallawan]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

If that's so then what happens?

[righty]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Then it'll be time for the Bizzies:tinysmile_hmm_t2: to feel some collars

[Last]

Re: Bournes Debt Solutions (Bournes Limited) - FCA requirements & administration

Lets hope the administrators let us know one way or another (there's a song there) so we can move on from this mess. Although if it's not the good way I'm not sure what the next step would be - ombudsman, solicitors, media etc.!!!