Debt Advice Firm Director Banned
Posted on 13 January 2016
The boss of a so called debt management company, Marketing and Lead Generation Limited (MLG) trading as One Debt Solution, fined £330,000 and disqualified as acting as a company director for 11 years.
The Insolvency Service found that MLG failed to pay over money to intended creditors and the independent adjudicator who reviewed the complaints decided that the customers had been mislead and should receive refunds.
Sue MacLeod, chief investigator at The Insolvency Service said "This company derived its income its income from people who were struggling financially and who had turned to it for help to sort out their debt problems".
This is yet another example of why individuals and directors facing financial difficulties should always seek assistance from a properly qualified and licensed Insolvency Practitioner.
Speak to our licensed Insolvency Practitioner Alison Byrne at our Bristol office.
We have advised and assisted Byrne Associates in respect of construction matters for many years. In this time all staff have demonstrated their in depth knowledge of insolvency procedures Terry Blazey (TFB Associates )
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