Grass Roots Financial Ltd- Message for Site team

orc_2

VIGILANT22 wrote: »

[QUOTE=orc

Please be aware of the following:

Registered premises of Grass Roots Financial Ltd

Grass Roots Financial Ltd ,
Peter House ,
Oxford St ,
Manchester ,
M1 5AN

Company Registration No: 05979001

This company first came to prominence in late January / early February 2009 .

Grass Root’s Financial Ltd is currently owned by a Master Agent for Cartel Client Review Ltd and a trusted member of the owner of Cartel's “inner circle” .QUOTE]

I've just had a look at the last filed accounts of Grass Roots (Financial) Ltd. and guess what? The company was insolvent to the tune of £11,000 as at March 2009. The business is a £2 company (ie only 2 shares issued) run by a husband and wife team of directors. The husband has held 13 offices in Limited companies but only 3 are still active, the rest have all been dissolved.

Thanks Vigilant

I was aware of that and what it means.;)

marshallka

Apparently according to scam it was was said on the money box programme that Grass Roots are also being investigated by MOJ.

VIGILANT22

Yes you can listen here at 13.45 mins in
http://www.bbc.co.uk/iplayer/money_box

marshallka

VIGILANT22 wrote: »

Yes you can listen here at 13.45 mins in
http://www.bbc.co.uk/iplayer/money_box

Thanks, this confirms that MOJ are investigating Grass Roots also.

orc_2

Good.

Here's hoping, but with regulation the way it is and folk desparate for some false wand, I wonder what it will take to effectively resolve matters. Added on the other side with some claims co's wanting a fast buck.

Radio 4 Money Box web page (useful links)

http://news.bbc.co.uk/1/hi/programmes/moneybox/8577178.stm


New credit card protection agreed




BBC Radio 4's Money Box
Saturday, 20 March 2010 at 1204 GMT On Radio 4 and Online
Credit card holders will be offered greater protection from spiralling debts, although the changes are watered down from original proposals.
Consumers will be given 60 days to reject changes in the interest rates charged on their existing debts.
They will also be able to opt out of any increases in their credit limit. By the end of January 2011 providers must also ensure that the highest cost debt on a credit card is paid off first
Money Box hears from Moneysupermarket.com's Peter Harrison.
Related links:

BBC News: New credit card protection agreed


When is low risk actually high risk?
When it's 'geared'.
Geared traded endowment policies are not familiar to many people, but some people did invest huge sums in the plans marketed as a low to medium risk investment.
In fact the products involved borrowing money to investment, a high risk activity.
Now some face losing their home.
Money Box hears from a solicitor acting for people who say they were mis-sold the products, Gareth Fatchett of Regulatory Legal.
Chief Executive of the company behind the products, UK Integrity Group, gives his perspective to Paul Lewis.

Cartel shut down
Cartel Client Review has effectively been shut down by the Ministry of Justice (MoJ).
As previously revealed by Money Box, the MoJ has been investigating Cartel since February after complaints from customers.
The solicitors used by Cartel, Consumer Credit Litigation Solicitors, was shut down by the Solicitors Regulation Authority last month for 'suspected dishonesty'.
Customers were complaining they had paid hundreds - often thousands - of pounds to have these firms bring claims against their lenders, and seen nothing for that money.
The MoJ has confirmed to Money Box that it is now also investigating Grass Roots, which according to its authorisation is working out of the same offices as Cartel.
Karen Kiernan reports on what the latest developments could mean for customers.
Related information:
BBC News: Cartel Client Review closed down
BBC News: Cartel fee refunds may be at risk
BBC News: Claims firm solicitors shut down
BBC News: Credit claims firm investigated
Solicitors Regulation Authority
Ministry of Justice
No win, no fee reforms
MoJ: Fact Sheet - delays in providing a service
MoJ: Fact Sheet - suspended or cancelled business
Claim Management Firms

marshallka

MoJ probes firm that shared office space with Cartel


The Ministry of Justice is investi-gating Grass Roots (Financial) Ltd - a claims management firm that shared the same offices as the suspended Cartel Client Review.
The MoJ has confirmed that an investigation is underway but could not comment on why the firm is being looked into.


An MoJ statement says: “We can confirm we are investigating Grass Roots but we are not able to comment further on specific issues under investigation.”
Both firms are listed on the MoJ’s website as working from offices on Devonshire Street, Manchester. A spokeswoman for Cartel has told Mortgage Strategy that its chief executive officer Carl Wright is in no way connected to Grass Roots.

http://www.mortgagestrategy.co.uk/latest-news/moj-probes-firm-that-shared-office-space-with-cartel/1009242.article

marshallka

Claims management firm linked to Cartel under investigation

Monday 29th March 2010

Another claims management firm is being investigated by the Ministry of Justice after it emerged that it shared an office with the recently closed down Cartel Client Review.
The firm, Grass Roots Financial, says on its website that it offers debt and claims management solutions.

However, it also operates out of the same office as Cartel Client Review and its solicitor firm, Consumer Credit Litigation Solicitors (CCLS), which have both now been shut down following scores of complaints from consumers.

The Ministry of Justice confirmed that Grass Roots is under investigation, stating: “We can confirm that we are investigating Grass Roots. We are not able to comment further on specific issues under investigation as to do so could jeopardise the outcome of the investigation.”

Cartel Client Review charged people a £495 upfront fee to review their credit agreements in the hope of getting them “written off”. Widely condemned by debt experts and consumer watchdogs, they were finally shut down earlier this month as complaints about their unscrupulous activities abounded.

Consumer Credit Litigation Solicitors was shut down by the Solicitors Regulation Authority (SRA) last month because of “suspected dishonesty”, with the regulator revealing that between 50,000 and 70,000 people gave money to the claims handler, and that it found files “just piled into boxes” at their offices.
At the time of going to press, no one from Grass Roots Financial was available for comment.


http://www.debtmanagementtoday.co.uk/newsstory?id=677&type=newsfeature&title=claims_management_firm_linked_to_cartel_under_investigation

orc_2

orc wrote: »

Is there an opportunity to work with others to clamp down on mismanaged claims handling firms.

Thanks Marshallka

Quote taken from first post on this thread.

People who are affected by non delivery by claims management firms need to complain vigorously to the MoJ. They need to be clamped down on.

Perhaps the sheer volume of complaints will lead to action.

We can hope.

Lindsaya

I don't if anyone can help but I paid £1040 to my financial advisor in October '08 who was also doubling up as a cartel agent. Is there any way I can get this money back either from Cartel or from him. Someone mentioned maybe pursuing the agent through small claims or public liabilty insurance.

orc_2

Hello

You paid them in Oct 08. What action have you taken in the meantime?