Hello all

With regret I am another small business mis-sold to by Phoenix Business Agents.

Back in September 2011 after signing their contract and paying them £600.00 which the salesman was very quick to point out this is refundable on sale,

or if they don’t sell your business after 26 weeks and you wish to cancel the contract.

I waited for the first viewing.

After all I was told not to waste their time as they had buyers in the area wanting to buy businesses, and I must be serious about selling.

9 months passed without a single viewing.

Phoenix not making any effort, or showing any interest.

I decided to take my business off the market.

This does seem to be what they anticipate.

A week later arrives an invoice for £3000.00

They make a big deal about the £600.00 paid upfront being refundable.

I find this deliberately misleading, as this hints no risk!

I admit they don’t say it. But when someone tells you, you get your money back, you don’t jump to the conclusion you will receive an invoice for 5 times the amount.

I now have daily calls at work from a patronising woman from accounts telling me she understands,

but I should understand this is the law!

Could she be more condescending?

I’m told they will negotiate with me rather than go to court.

She has had a word with her manager and now they are doing me a favour.

I only have to pay £2000.00.

I’ve told them, I would rather go to court.

I’m waiting for a response.

I’m fuming.

brisbs

Hi

I have recently become another victim of Phoenix Business Agents.

Back in September 2011 after signing their contract and paying them £600.00 which the salesman was very quick to point out this is refundable on sale,

or if they don’t sale your business after 26 weeks and you wish to cancel the contract.

I waited for the first viewing.

After all I was told not to waste their time as they had buyers in the area wanting to buy businesses, and I must be serious about selling.

9 months passed without a single viewing.

Phoenix not making any effort, or showing any interest.

I decided to take my business off the market.

This does seem to be what they anticipate.

A week later arrives an invoice for £3000.00

They make a big deal about the £600.00 paid upfront being refundable.

I find this deliberately misleading, as this hints no risk!

I admit they don’t say it.

But when someone tells you,

you get your money back,

you don’t jump to the conclusion you will receive an invoice for 5 times the amount.

I now have daily calls at work from a patronising woman from accounts telling me she understands,

but I should understand this is the law!

Could she be more condescending?

I’m told they will negotiate with me rather than go to court.

She has had a word with her manager and now they are doing me a favour.

I only have to pay £2000.00.

I’ve told them, I would rather go to court. I

’m waiting for a response.

I’m fuming.

Surely this sort of shady and unscrupulous business practice is unlawful?

Any advise is very welcome.brisbs

It's not the law and nothing whatsoever to do with the law. If you have paperwork saying sale or refund after 26 weeks, you are laughing - do have this paperwork ?

Hello Conniff

The monies paid upfront (£600.00) do say 'is refundable upon complietion of sale or upon termination accordance with clause 4 of the contract.

The sales fee is agreed at £6000.00 +vat.

The contract states:

The vendor may otherwise elect to break the agreement at any time during the initial period by serving notice in writing on

Phoenix whereupon a sum equal to half the agency fee shall immediately become payable to Phoenix

as agreed compensation for the loss of opportunity to earn the full fee and in payment for work due up to the exercise of this option.

The £3000.00 invoice is less the monies already paid.

Today accounts phoned me again to negotiate a settlement figure.

The sum has now gone down to £1500.00 inclusive.

I’ve left it unsettle, and they are waiting for an answer.

When I got home a letter from them stated they have not received the £3000.00,

and will start court preceding on the 4Th July 2012.

if the monies have not been received in full.

I did get the feeling they will see how much money they can extract from each person without going to court.

Why would they opt for £1.5k when I theoretically owe them £3k ??

Your advise is much appreciated.

brisbs