Loan for a course but the training company (advent) has gone under

jaz720848

hi i dont know if i have posted this in the right section but hopefully someone will be able to help me with this.

I signed up for an IT course with a training company called advent and they arranged some finance for the course through barclays for me.

I have just received an email from them saying that the company has gone under and can no longer provide me with training for the course. Apparently i have been appointed an insolvency practitioner, which i don't really know what that means.

The question i want to ask though is, since the company that i was supposed to be doing the course with has gone under does that not make the finance agreement in some way not applicable or something along those lines.

Any help would be much appreciated, regards, Jason

rsykes2000

2 threads about this already with info in :
Advent Training Gone bust... what now??
Training Provide Gone Bust

neas

probably you borrowed money from compnay A... to pay Company B.

Company B has now gone under... and it owes you money. To simplify it essentially this is what happened:

you Borrowed money from Company A. and lent that money to Company B.. Company B is now bankrupt and you are one of its creditors....(owed money).

Am guessing thats what the practicioner is for.... to try and get back as much money you are owed back from the debtor (training company)

Either way its the training company which has your 'money'... you jsut owe that money back to barclays..