Debt Doctor gone bust

Maybe the people that most needed a Debt Dr, were advised to use a free debt counsiling service. Still if Debt Dr can't make money in the current financial climate, theres not much chance of them making money when the good times return..

It seems around 50 or so people bought franchises under the Debt Dr name and OFT licence. These people are now without a business but the question remains are they liable or should they be liable for any advice/work they gave or does it all fall to the company?

It is a very difficult area.

I had been with them for 3 and a half years and was impressed. However recently I placed my Critical Illness payout for my cancer diagnosis into the Debt Dr account to continue paying creditors and also to draw down for myself some money each month for essential household expenses. The debt counsellor who was supposed to look after my file tells me my money has disappeared. It is a crushing blow to someone who is facing chemotherapy (I had just completed many weeks of gruelling daily radiotherapy.)

Hi all,

I've been reading your thread with interest.

I am not one of the franchises, but I am a debt doctor client, who was trying to settle his "young days mistakes" debt and contracted debt doctor to do so.

I have been asked by debt doctor to put

I'm a plumber not a lawyer, but I'm guessing that a company such as Debt Dr would have to be registered with the FSA before they could operate. I would also assume that clients money had to be in certain types of accounts and guaranteed to be safe. Even though they are trading under a Ltd company banner, does not allow them to escape lightly. If they continued to trade knowing full well they were insolvent, then the Insolvency service that wind the business up can recommend that the directors are held accountable and if need be made bankrupt... that my understanding of it anyway.. But good luck and as it is early days I wouldn't get to stressed about it yet, not until you hear from someone official..

Vinny.

You need to report this matter to the OFT's consumer direct 08454 040506 & the police.

<rest of post edited>

The post was getting a bit close to the bone, and with the greatest of respect to the previous posters, we are always cautious when allegations are made by brand new posters.

Thanks for your understanding
Steve - Admin

Sorry if my last post was a bit strong.

A number of peices of key advice may help. The mirror news paper investigations team are looking at this story. The Police and OFT should be informed if a loss is suspected.

Oxford united have a forum. Mr Hockley is a big fan of Oxford and has a box at the ground and he either is or was a director of the club until very recently.

Companies house is a good source of imformation about Jeremy Hockley and his companies.

If you need help the authorities are interested.

Thanks Barney and Brian.

Good advice.

I did not see the post that got edited by the moderator of this forum, if there was more details, feel free to PM me.

I understand the modrator's concern as I'm new to this forum, and wish to keep the tone and possible allegations made reasonable.

However, it is a deep concern to a lot of people who were not in a good situation in the first place and can not afford to have their settlement money vanished, as my Debt Doctor agent is telling me has happened.

So, I'll follow all your advice,

Many thanks and once again, please don't hesitate to PM me if there is soem info best to share privately.

Kind Regards,

Vinny

To date there is no sign of a statement of where the client account money is or how customers can get their deposits back.

It would be very good to see here the directors of Hermes Financial Solutions Ltd / debt Dr stepping forward and explaining how his customers might receive a refund of the fees paid and funds placed in trust for the reduction of their debts.

Where is Mr Hockley?