Company did not provide good paid by bank transfer

Hoenir

J66998821 said:

however since the company has only ‘ceased trading’ but remains active on companies house what happens now? 

The Company has no doubt ceased to trade as it's insolvent. Directors will be seeking advice from a licenced insolvency practioner. The company doesn't instanteously shut down. The assets and liabilities need to be dealt with. In order to wind the company down. 

J66998821

Thanks for all your comments

Honestly if action fraud don’t investigate then who is standing up for customers who have effectively had their money stolen?  

I haven’t said which company because there are a lot of customers effected and I don’t want to be personally identified as tensions are high in my area 

eskbanker

J66998821 said:

Honestly if action fraud don’t investigate then who is standing up for customers who have effectively had their money stolen?  

They do collate fraud data and refer elsewhere within the police, who may choose to follow up on egregious fraud where there's a realistic prospect of conviction, but businesses fail all the time and proving fraudulent conduct by the directors is a high bar.

In terms of the rhetorical question, the likes of MSE, Which? and Citizens Advice offer guidance and support for consumers, but one of the key messages will always be to use cards for paying, rather than bank transfers, as section 75 or chargeback protection can be powerful.

J66998821

Thanks hindsight is a wonderful thing 

born_again

J66998821 said:

Thanks for all your comments

Honestly if action fraud don’t investigate then who is standing up for customers who have effectively had their money stolen?  

I haven’t said which company because there are a lot of customers effected and I don’t want to be personally identified as tensions are high in my area 

Sadly very little you can do other than legal route, but if there are no funds, then you get nothing.

Action Fraud was originally set up by Met Police & Trading Standards. In effect it's role was to reduce load on over stretched Met police in cases such as this. But it expanded out to pretty much most crime reporting & more police forces.
Or as the cynical say. To massage crime figures, as these are not counted in Met police figures.

soolin

eskbanker said:

J66998821 said:

Honestly if action fraud don’t investigate then who is standing up for customers who have effectively had their money stolen?  

They do collate fraud data and refer elsewhere within the police, who may choose to follow up on egregious fraud where there's a realistic prospect of conviction, but businesses fail all the time and proving fraudulent conduct by the directors is a high bar.

In terms of the rhetorical question, the likes of MSE, Which? and Citizens Advice offer guidance and support for consumers, but one of the key messages will always be to use cards for paying, rather than bank transfers, as section 75 or chargeback protection can be powerful.

The advice that @eskbanker gives cannot be stressed enough- the advice to pay using safe means is not new- and is essential in these ever changing times where even good companies can fall on hard times. It is a sad state of affairs where consumers need to always be aware of payment safety, and have a plan in place in case a company goes down. The banks do their part now with the endless warnings whenever you try and pay someone new by bank transfer but we consumers must play our own part as well.

I hate to hear of anyone having lost money , it is not a good place for anyone to be in. I suspect though that all you can do now is add your name to the lists of people owed, and see if anything in the pound can be scavenged to pay out those affected. If you use the courts to try and reclaim anything you would need there to be assets for you to claim against, and if as you fear there are no assets, then even a win at court isn't go to see you retrieve anything unfortunately.