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

[Last]

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

How would this affect the work the administrators are doing....would it not impede and drag things on for longer. Is it not best to wait for them to complete there initial investigation and they also as officers of thecourt are duty bound to report criminal and other misconduct matters thatmay arise.

[righty]

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

How would this affect the work the administrators are doing....would it not impede and drag things on for longer. Is it not best to wait for them to complete there initial investigation and they also as officers of thecourt are duty bound to report criminal and other misconduct matters thatmay arise.

I doubt it. Anyway they are refusing to assure victims that THEIR money is safe perhaps being the subject of such an injunction might make them give some sort of assurance to the victims
In my opinion they've been kept in the dark for far too long.

The funds are either there or they're not & victims need to know either way

[Last]

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

I agree we have been kept in the dark but the administrators do have 8 weeks from being appointed and have asked for patients.....the 8 weeks is up 2 weeks on Thursday. I have £7000 caught up in this and was at the end of my plan. If the money is not there - we have been told we are not covered by any compensation scheme so where does the money to repay us come from and how do we start that fight if it comes to it. If there has been fraudulent activity then the administrators have to report it and hopefully legal proceedings will be brought against all the directors.

[righty]

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

Who approved or licensed Bournes as a DMC?

[Last]

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

I believe it was the Office of Fair Trading which then merged to be part of the FCA - the FCA state they have only regulated Bourne's since April 2014 - which basically is when the OFT became part of the FCA.

[righty]

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

Then their so called regulation failed did it not

[Last]

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

If only it could be that simple.......it maybe a point we need to fight if the administrators tell us we will not be getting OUR money back.

[righty]

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

If only it could be that simple.......it maybe a point we need to fight if the administrators tell us we will not be getting OUR money back.

If they DO say that ask them where the monies have gone that they did receive

[Ruthless]

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

Hi all, i have sent the administrators an email this afternoon asking that question regarding our money and whether they are looking into the directors personal bank accounts as the vast amount of money must be somewhere but it feels like we a running out of time. I wonder how much the clients list was sold for and how much the administrators charge!!!!!!

[Last]

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

I have wondered that myself Ruthless!!!! I also sent them a similar email basically got the following reply: "All of your questions can only be answered when the conclusions are drawn. It is clear that we are unable to conclude investigations given we have not reported we have. It looks an uncertain situation. There doe not appear to be sufficient funds at bank , but I do not yet know how much Bourne's should have held in total"

Which considering it's been nearly 6 weeks seems quite amazing and also very unlikely we are going to get OUR money back from the administrators investigation, but hopefully, keeping very optimistic, when they start digging deeper they may find the holding accounts with loads of money in!!!!

[Ruthless]

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

I did not get an email back!!!!! but we as clients know exactly the amount of money we have paid in, what their fees where, which they have had surprise surprise, what the creditors have been paid so far and what was in the holding accounts for us. The monthly statements stopped in april but we still know the exact amount.This information would surely be there for Mr. Levy to see for himself.... If only they had asked in the beginning we could have all sent PROOF of this to help him. LOL. They need to get bigger shovels and move faster.

[righty]

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

Its time to lobby the authorities to demand that these DMC's be regulated AND insured so that in these circumstances their victims are compensated AND the owners are struck off & never allowed to operate in the financial industry again

[Ruthless]

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

After speaking with. the Insolvency Service the other day i have decided to put a complaint in about the administrators.They were very helpful indeed asking many questions about the situation. I have read through the complaint form online at www.gov.uk/insolvency service ( complain about an insolvency practitioner) all it requires is the facts and concerns we have over the whole investigation of what has gone on and any proof/documents/emails to back the complaint. When you enter the details of LA Business they ask for the authorizing body. This is SoS. The clock is ticking fast so we all need to fill this form in. Good Luck

[libra1970]

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

Hi so after reading all the posts what is the next step? I have contacted the ombudsman and the administrator.

[Ruthless]

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

What did the ombudsman say they could do?I think If we sit around waiting for the administrators to finish their investigations and inform us yet again of what they haven't found the eight weeks will have gone and we can kiss goodbye to all of our money. I am not prepared to do that. Bourne's clients please complain on the website I put on the other day and hopefully the investigations will be looked at by the Insolvency Service.