Mr

johnnyroper

i would say it is unlikely the op will get money back unless they paid by credit card,but like others i do find it strange people are in big enough debt to turn to so called clear debt companies and hand over a couple of grand that could be more wisely used in paying off a chunk of debt.

milly88

The main trouble is with Claims Management Companies they give a very powerful sales pitch and make everything so believable that I can see why people do get sucked in.

I also agree that if someone has a couple of grand to give to a Claims Management Company, the actual debt(s) should have been cleared first and that is paramount.

The problem is now that people have paid these sums of money to the CMC and they are not able or are doing what they were supposed to the client has every right to ask for his/her money back. If it was paid by credit card there may be some recourse going down this route.

The idea of someone asking for help is that they should not be taunted or ridiculed because they were sucked in by the CMC. Many thousands if not millions of folk have been sucked in by false promises and the same amount of people have probably lost their money.

Unfortunately, the MOJ authorise these companies to enable them to run their money raising busineses and as well as charging them a fee for the authorisation they also get a rake off from profits orturnover. Now the MOJ is the government and it is these people I also hold accountable for allowing these CMC carry on ripping folk off.

The Rankines have now been banned for 12 months from trading and Cartel has now been suspended and now many other CMC's will fold like a pack of cards in the coming months.

I do not think you can put all the blame on people who were sold a pup.

johnnyroper wrote: »

i would say it is unlikely the op will get money back unless they paid by credit card,but like others i do find it strange people are in big enough debt to turn to so called clear debt companies and hand over a couple of grand that could be more wisely used in paying off a chunk of debt.

Premier_2

Zach wrote: »

Thanks for your help again Prmeier.

Right, some positive(ish) news

The compaby that you have referred to above is CYD UK Ltd and its company registration number is 06437548.

On their latest website using the trading name Refresh Financial Solutions, they state at the bottom that it is the trading name of CYD Insurance Services Ltd and the company registration number is 06667912. On the companies house databse, this is not shown as proposed to be struck off and has the most upto date account out of all the companies.

As they are still not answering the phone, I guess my best bet is a recorded delivery letter and failing that, I should contact the MOJ?

That could be good news. You need to double check any documentation you have to verify which company you actually instructed initially.

According to the MoJ website, ClearYourDebtUK is/was a trading name of CYD UK Limited, [Registration No.: 06437548] Authoristaion No.: CRM12549

As you say, Refresh Financial Solutions is a trading name of CYD Insurance Services Ltd [Registrarion No.: 06667912] Authoristaion No.: CRM19491
This company was known as RIS Insurance Services Limited prior to 19-May-2009

Rain12

Hi,

Unfortunately, I have also paid CYD / Refresh Solutions about £4500!!!
Now, they do not pick up their phone and I have a big concern how to get my money back from them.

I always had this dreadful feeling inside that this company was somehow not right, as they were acting very strangely lately ( i.e. not picking up their phones, the conversations weren’t making much sense, things were not being followed up with creditors anymore, they were making many false promises as they owe me still a referral Cheque £300, which I never received!)

Please advise me what steps I should be taking now to retrieve my money back from CYD?

Step 1.) Send CYD a recorded delivery letter asking my money back
àBut if there is no one present anymore at that address then how do I know that my letter has been read or not? How long should I wait like this....?

Step 2.) After sending a recorded delivery letter to CYD, and as they might not reply now, should I then write to Consumer Bureau or some other firm....?
Please give me a clue or an address to where I could write then to get my money back?

Step 3.) Should I simply contact a solicitor?



Please let me know soon,
Thank you!!

milly88

I have answered each point below.

In addition can you let me know the date you paid for this service and was it by credit card and did they cold call you or how did you find out about this service?

The MOJ actually state on their web site that you should not be paying up front fees.

Can you also post up the T&C's that you signed for when you took the service?
Milly

Rain12 wrote: »

Hi,

Unfortunately, I have also paid CYD / Refresh Solutions about £4500!!!
Now, they do not pick up their phone and I have a big concern how to get my money back from them.

I always had this dreadful feeling inside that this company was somehow not right, as they were acting very strangely lately ( i.e. not picking up their phones, the conversations weren’t making much sense, things were not being followed up with creditors anymore, they were making many false promises as they owe me still a referral Cheque £300, which I never received!)

Please advise me what steps I should be taking now to retrieve my money back from CYD?

Step 1.) Send CYD a recorded delivery letter asking my money back
àBut if there is no one present anymore at that address then how do I know that my letter has been read or not? How long should I wait like this....? YES, please do this first allowing 7 days for a response. Send recorded or special delivery.

Step 2.) After sending a recorded delivery letter to CYD, and as they might not reply now, should I then write to Consumer Bureau or some other firm....?
Please give me a clue or an address to where I could write then to get my money back? If after 7 days, you must make a complaint to the Ministry of Justice, giving them a copy of the letter which you sent as proof that you have been trying to contact this company and tell them your concerns. This may not get your money back but it is worth a try.

Claims Management Officer
Claims Management Regulation
Monitoring and Compliance Unit
57-60 High Street
Burton on Trent
Staffordshire
DE14 1JS
www.claimsregulation.gov. uk
Telephone: 0845 450 6858
Fax: 0845 450 6866
Email: [EMAIL="info@claimsregulation.gov.uk"]info@claimsregulation.gov .uk[/EMAIL]

MOJ web site showing CMC's that have lost their licence. http://www.claimsregulation.gov.uk/


Step 3.) Should I simply contact a solicitor? Yes you can do that as well, although quite frankly what can they do if the company is being wound up.



Please let me know soon,
Thank you!!

ILW

Al the advice regarding MoJ, solicitors etc is of little value in the likely event of the claims company simply going into administration. In that case the only hope is if you paid by credit card.

Rain12

Hiya Milly88,

Thanks for your quick reply back, million times appericiated!!

Will keep you posted ...

Thanks again,
Rain12.

Rain12

Hi Milly88,

Please see my reply in RED ;

In addition can you let me know the date you paid for this service and was it by credit card and did they cold call you or how did you find out about this service? This was back in September 2009. Yes, we paid them by our credit cards. We saw many adverts about CYD on TV at that time and also when we had rang them for info only, they got our details and did do some cold calling till we had signed up.

The MOJ actually state on their web site that you should not be paying up front fees.

Can you also post up the T&C's that you signed for when you took the service?
Milly[/QUOTE] Will do ....

Thanks Milly88!!! Will be in touch again :cool:

milly88

Phone your credit card company as soon as possible and explain the situation with this company that they took your money and now you cannot get hold of them. I do believe that the indemnity might only be 6 months but it is worth a try.

Once you post up the T&C's we can take a further look. But time is of the essence?

What exactly did they promise you for the money that you parted with?
ie Mis-sold PPI? For instance if it were credit card charges members on another site I am on have received full refunds in as little as 9 days with no hassels.

Please get your letter off to them immediately to this company demanding your money back as they have failed to provide a service to you as any delays could go against you.

Milly

Rain12 wrote: »

Hi Milly88,

Please see my reply in RED ;

In addition can you let me know the date you paid for this service and was it by credit card and did they cold call you or how did you find out about this service? This was back in September 2009. Yes, we paid them by our credit cards. We saw many adverts about CYD on TV at that time and also when we had rang them for info only, they got our details and did do some cold calling till we had signed up.

The MOJ actually state on their web site that you should not be paying up front fees.

Can you also post up the T&C's that you signed for when you took the service?
Milly

Will do ....

Thanks Milly88!!! Will be in touch again :cool:


[/QUOTE]

Premier_2

Rain12 wrote: »

...Step 1.) Send CYD a recorded delivery letter asking my money back
àBut if there is no one present anymore at that address then how do I know that my letter has been read or not? How long should I wait like this....?

It is a legal requirement that a limited company's registered address is an address where notice can be served on a company.

Of course, it's up to the company whether they wish to read any letters you send them there, but they have to accept them.

The registered office is not necessarily the trading address of the company, so get the latest registered address off companies house.
Again, it's a legal requirement of any company to keep companies house advised of any change in their registered office.