Tdr

Powderhungry

Hi, I have been using the company 'Total Debt Relief' to manage my DMP, for just over 2 years now. I received an email Monday evening and now letter from the FCA, saying that 'TDR will no longer be providing advise on repaying my debt'. The FCA are now investigating the firms activities on how it deals with its customers money.

I've heard nothing from TDR and i only recently spoken to them back in mid Aug. Obviously no one is answering the phone or emails in the office.

I have contacted my creditors to update them plus also make my token payments.

I am a little nervous now and was wondering if anyone else out there has been using them, or has had similar experience with a DM company?



Thanks

sourcrates

Hi,


Unfortunately as you appear to have found out, these DMC's go bust with annoying regularity.

Plese contact stepchange who are a free debt charity who will organise a DMP at no cost whatsoever.

Paying for a DMP is never recommended, debt management companies should be avoided at all costs.

Just_Di

Powderhungry wrote: »

have been using the company 'Total Debt Relief' to manage my DMP, for just over 2 years now. I received an email Monday evening and now letter from the FCA, saying that 'TDR will no longer be providing advise on repaying my debt'. The FCA are now investigating the firms activities on how it deals with its customers money. . . .

I am a little nervous now and was wondering if anyone else out there has been using them

You are not alone.

The FCA has obtained a High Court Order to appoint a Provisional Liquidator to manage the situation.

If you Google "Total Debt Relief FCA" you'll see a link to the FCA website which explains exactly what has happened and who you can contact for help and information including an email address for the Liquidator Griffins (sorry I can't post the link on the forum but here's an extract). >

"Who to contact
For queries relating to the firm
Customers should contact the Provisional Liquidator if they are concerned, or for any updates.

The Provisional Liquidator will gather as much information as possible from creditors and clients of the firm about payments made to, or owed by, the firm. Customers of TDR who believe that they are owed money by the firm should contact TotalDebtRelief@griffins.net as soon as possible.

They will ask you to provide the following information:

client reference number
copy of any agreements you may have entered into with TDR or other proof of debt
full name
address and contact details
brief summary of claim
Customers can also contact our Consumer Helpline for further information

Should you have any concerns with TDR’s conduct, then please submit a report to: https://www.actionfraud.police.uk/report-a-fraud-including-online-crime (link is external) using the reference number: NFRC180902502899

For advice on outstanding debts
We encourage customers who have set up a direct debit with TDR, or who pay TDR by standing order to contact their banks to cancel the arrangements."

Di

Powderhungry

Hi Di and Sourcrates, I've made contact with Griffins, first thing i did, they've acknowledged receipt of my information. I pray they are able to get my money back. I was nearly finished with the plan and TDR are holding a large sum of my money. Which would of been towards my full and final settlements

I was nearly out, now they've pulled me back in!

sourcrates

I hate to say it but if they have gone into liquidation your money may of gone for good.
You will become a creditor of the company and join the que for any payout.


You will be lucky to get anything back, depends if they have any assets to realise.

Jakz

Any News i paid in for 5yrs and was just about to get my debt cleared, with 1 month to go, now had to start again. worried we will be forgotten, with over 10k worth of my money, any advise

sourcrates

Jakz wrote: »

Any News i paid in for 5yrs and was just about to get my debt cleared, with 1 month to go, now had to start again. worried we will be forgotten, with over 10k worth of my money, any advise

Hi,

This is an old thread, the company was liquidated in 2018 after the FCA obtained a compulsary court order to wind them up.
Advice on what to do is here :

https://www.fca.org.uk/news/news-stories/total-debt-relief-limited-tdr-liquidation


but you may have waited too long now.

WhenIam64

The TDR thread was close a bit early so I've opened up this thread. The mods may decide to merge it but I thought this additional bit of information should be added.

This is the transcript of the HIgh Court case where the Liquidator was justifying their costs (ouch..)

https://www.3harecourt.com/assets/asset-store/file/TOTAL%20DEBT%20RELIEF%20LIMITED%20Jmt%2018%2007%2019.pdf

What it does say is that all the recovered monies will be put into a "notional pool" and everyone will eventually get paid back an amount in proportion, according to the FCA rules

The firm [the Liquidator] “must distribute client money comprising the notional pool so that each client receives a sum that is rateable to their entitlement to the notional pool calculated in CASS 11.13.4 R (2).

@ Powderhungry could ask when his/her share of the notional pool will be paid back, but at the rate of fees being charged, there may not be a lot (As SC says). There is an entitlement there but what it is, is unclear. TDR's accounts never showed what they had under management.

sourcrates

Apologies, closed it by accident, closure being the default setting, it can get clicked by accident very easily.