Prosperous Life administration problems

Fallingdown68

I had a funeral plan with Prosperous Life,but they have gone into administration I paid over £ 2500,been in touch with Administration who told me I would get a partial refund !!! This surely cannot be right,is anyone else in this situation.

DullGreyGuy

thats not what it says on their website, it says you can be transferred to Dignity at full value and it then becomes a regulated product with the protections that brings.

Fallingdown68

Prosperous Life never sent me notifications to transfer to Dignity,I contacted Dignity who told me I wasn't eligible for the rescue plan,I have been told by the administrator I will only receive a partial refund when they have sorted the problem out.

born_again

https://www.prosperous-life.co.uk/

What if I do not opt into a Dignity plan?

Should you decide not to opt into a Dignity plan, the Company will be unable to continue to provide you with a funeral plan from the Opt in Deadline. You may be eligible to receive a partial refund from the Trust.  Whilst we cannot confirm the exact amount of the refund at this time, it is expected to be substantially lower than the amount of money that you have paid into the Trust to date. You would also be entitled to submit a claim in the Administration of the Company as a non-preferential unsecured creditor of the Company. Further, if you opt into a Dignity plan and then decide to cancel, it is likely that you may receive a refund that is less than the amount you have paid, and the same as what you otherwise may have received from the Company if you had not opted into a Dignity plan.

Whilst we cannot be certain at this stage, we anticipate that if you decide not to accept Dignity’s offer you will be unlikely to receive full repayment of the amount you have already paid to the Company from either the Company or the Trust. If you opt into the Dignity offer, you will receive a credit for the amount you have paid to date, as long as you retain the plan.

Is/was you contact details up to date?

Fallingdown68

Prosperous Life told me time &time again my plan was safe this was not true,the deadline passed for me to do anything,the money I had paid to them is frozen,I asked what would happen if I passed away,their answer was my family would have to pay for a funeral & wait for any refund in the future,this from people who are dealing with very sensitive &emotional things,why should I loose any money to a company like this.

Fallingdown68

Is anyone out there having problems with Prosperous Life going into administration,I have paid over £2500 into a funeral plan,Dignity could not help with a rescue plan,I cannot afford to lose so much money.

MobileSaver

Fallingdown68 said:

Is anyone out there having problems with Prosperous Life going into administration,I have paid over £2500 into a funeral plan

How did you pay the £2,500? Cash, cheque, direct debit, bank transfer, debit card or credit card etc?

Fallingdown68

I paid £1800 debit card deposit,then paid direct debit for 10 months,then Prosperous Life cancelled the direct debit.

Fallingdown68

Did anyone out there have a funeral plan with Prosperous Life before they went into administration?I could not transfer to Dignity Funerals,The reasons why are very complicated,I'm out of pocket to the tune of £2500,awaiting on the Administration company sorting out the fiasco caused by Prosperous Life 

Fallingdown68

Is anyone out there waiting for Kroll Manchester Administration company to deal with Prosperous Life going into administration? I paid over £2500 to Prosperous Life for a funeral plan,still waiting for a update.

Marcon

Fallingdown68 said:

I paid £1800 debit card deposit,then paid direct debit for 10 months,then Prosperous Life cancelled the direct debit.

Did you contact your bank to ask if you could do a chargeback in respect of the deposit? You might be out of time but surely it's worth checking: https://www.moneysavingexpert.com/reclaim/visa-mastercard-chargeback/#:~:text=You%20typically%20have%20up%20to,Broken%20goods.