Guys... As of 9am this morning... Toothfairy Finance was declared to be in Administration.

This is the whole CIMS Technology umbrella which marks great news for the PDL industry.

Later today I will post up the article, however for those impatient ones it is in Credit Today.

Edit;

http://www.credittoday.co.uk/article/16370/online-news/payday-lender-in-administration

What a nice Christmas present.

Unfortunately, they will pass on their debt book to Northern debt Recovery (probably) as they spun off from Toothfairy earlier this year.

It certainly answers the question on this thread

http://www.consumeractiongroup.co.uk/forum/showthread.php?406541-Toothfairy-finally-done&p=4373475&viewfull=1#post4373475

£100 says given them a few months and theyll be back under a completely different name. Larholt was applying for another credit licence before this new guy got involved with toothfairy.

Ahh, what a shame and just before Christmas too, perhaps we should have a whip round for them

Perhaps the new regulator will listen to me - ONE LICENCE PER TRADING NAME and that would put an end to the multiple companies lark. ONE FEE PER LICENCE regardless of who the parent company is.

Earlier this year (I believe) Northern debt Recovery and Marshall Hoare split from WebLoans Processing and set up as separate companies, each with their own CCA licence so they are still around.

Marshall Hoare also have a trading name of North Debt Recovery Ltd which should not be confused with Northern Debt Recovery.

Guys... As of 9am this morning... Toothfairy Finance was declared to be in Administration.

 

This is the whole CIMS Technology umbrella which marks great news for the PDL industry.

 

Later today I will post up the article, however for those impatient ones it is in Credit Today.

 

Edit;

 

http://www.credittoday.co.uk/article/16370/online-news/payday-lender-in-administration

This is all a trick to move to a new hiding place by Per Gullestrup. I am waiting for the new company to start calling me again

Seems like mhb have taken over the debts my other half is still getting emails saying they have the legal right to collect and they keep adding interest an threaten to turn up on the doorstep unannounced

First, they arent a debt buyer. 2nd, they cant add interest as the original contract was terminated, and any interest added on after COULD be seen as unlawful and profiteering.

Seems like mhb have taken over the debts my other half is still getting emails saying they have the legal right to collect and they keep adding interest an threaten to turn up on the doorstep unannounced

This is probably an automated email. The Gullestrup family took our loans somewhere else. Toothfairy does not pickup the phone, can't pay them. Nice christmas present. Just waiting for Per Gullestrup to show up again.

Got an email from Loads of Dosh Limited (who are currently in process of changing their name to DHR Capital Limited) claiming they have been assigned all debts from Webloans Processing Limited, what I find rather interesting about it is the following detail which doesn't really add up:

Webloans Processing Limited is in administration.

Webloans Processing Limited sells debt to Loads / DHR.

DHR sends out notice of assignment for debt.

DHR claims payments should be made into the Bank account we already pay to which would be the one of Webloans Processing Limited.

Now obviously that immediately sets off every single alarm bell simultaneously....

The lovely pictures from the email:

[ATTACH=CONFIG]48263[/ATTACH]

[ATTACH=CONFIG]48262[/ATTACH]

So it looks like round 2 is about to begin, can't wait to teach those who where foolish enough to buy debt from toothfairy just how hard they will crash and burn:mad2:

I would get that information over to the OFT asap, and also alert the administrators, as you say, it rings lots of alarm bells.

Was just having a read of this thread my speed credit debt was passed over to web loans processing when they got shut down, I have a repayment plan with web loans processing now they've went into administration will my repayment plan still stand with who ever then claims to own the account?

As I fought them down to the amount I actually owed and at a repayment I could afford, I'd hate to think.it gets passed around again and all daft charges get added back on

hi guys 1st time posting but figured you would all want to know this, have a debt through toothfairy which was being delt with by marshall hoares who we all know is 1 in the same, am with a debt management company dealing with all my debts inc this 1 recieved a letter from them today saying marshal hoares has told us they are no longer dealing with your debt please contact them and find out the name of the new creditor i need to make payments to, having already read this thread b4 ringing them was quite supprised to get through on the original phone number for mhb and speak to someone who said they were just changing name to blackwater uk and all payments should continue to be made to same address acc no but with the only change being "blackwater uk" as the new company. so sound like just another dodgy spin off of the same sharks,

DHR Capital ltd??!?! Well at least its not called Toothfairy anymore eh?!

Anyhow, needs to be reported to the OFT... Wonder if they have the same CCL Number ^__^

Was just having a read of this thread my speed credit debt was passed over to web loans processing when they got shut down, I have a repayment plan with web loans processing now they've went into administration will my repayment plan still stand with who ever then claims to own the account?

As I fought them down to the amount I actually owed and at a repayment I could afford, I'd hate to think.it gets passed around again and all daft charges get added back on

Shoever takes over the accounts must honour the arrangement you have in place already.

If the phone person was telling the truth, saying that it was all Per Gullestrup moving our loans to a new company, then we have found them. So far everything seems in line with it

Just had a thought, for those that have defaulted loans, does that mean that they will replace the Credit file entry under the new name?

I get the strangest feeling that might happen.

Wouldnt matter if they did. As long as the dates were kept the same.

An up date for you all

Loads of Dosh are the new owner but see how much they have paid for the loan book so when they come a chasing, offer something silly and see what they say.

http://www.consumeractiongroup.co.uk/forum/showthread.php?414289-Toothfairy-More-Corrupt-Then-First-Thought&p=4437525&viewfull=1#post4437525