Microcredit

[suzanne80]

Before Microcredit ceased trading a few of us won a decision with the ombudsman and it is binding on both sides. They owe me 1200. But microcredit have not payed this. I had to sign to say I would accept, now I have to enforce this is court.enforcing an ombudsman’s decision in court This note explains why a consumer may need to enforce an ombudsman’s decision in court – and what this involves. But it shouldn’t be taken as legal advice. why do I need to go to court?

 

If a consumer accepts an ombudsman’s final decision before the deadline we set, the decision is “binding” on both sides. This means the business is required to put things right in the way the ombudsman tells it.

 

In almost all cases upheld by the Financial Ombudsman Service, the business does this without a problem.

But in a few cases, the business does not respond to a final decision. If this happens, we will first try to get in touch with it to find out why. And if we can’t contact the business – or it is refusing to comply with the decision – we report it to its regulator.

 

When Parliament made the law establishing the Financial Ombudsman Service – the Financial Services and Markets Act 2000 (FSMA 2000) – it made an ombudsman’s decision legally enforceable in court.

[citizenB]

Thanks for starting a new thread, Suzanne. I have asked someone to look in with some advice.

[suzanne80]

thank you

[fkofilee]

Am I guessing you cant enforce because MC has been dissolved?

 

Well... I wonder if you could technically take the director to court?

After all they were in charge...

[suzanne80]

I was informed they may still have assets or own a building so can put a charge on that, im unsure

 

it is so wrong how they can pass on debt to persue for money, but they will not pay what they owe. They owed me before they ceased trading. I don't know who the director is

Edited April 7, 2015 by citizenB

[fkofilee]

Okay well let me get home and I'll work with what I can on this... I'm Pretty good finding this stuff out...

 

However one other thing. Companies off this nature tend to rent buildings...

[suzanne80]

thank you

[fkofilee]

While off topic... I Saw an article from DX about the directors and there swanky lifestyles...

 

I suspect you may possibly be able to get a charge on the directors house...

I've seen it happen before elsewhere but it was a while ago...

[suzanne80]

ok thank you, it is unfair

Edited April 6, 2015 by suzanne80

[fkofilee]

Right, lets see here,

 

His email address was; [email protected]

I do stand corrected... you CANNOT sue the director of a Ltd Company. Sorry about the wrong info.

You could potentially do it if you say the company was being run poorly (But this is a long process that isnt worth it)

 

Can i be honest. Its going to be tough, Ive had a look at their HQ, its nothing more than an office block...

 

Can you not speak to the lead FCA & FOS Adjudicator to ask them how to proceed? Or CAB?

[suzanne80]

ive contacted CAB and they were unsure of the process. Im waiting for a reply from FCA. FOS cant give legal advice.

[fkofilee]

Okay well, the FCA will be the clinch here... But i have a feeling i know what they will say.

I know its not what you want to do , but you might have consult legal advice on this...

 

For the amount of money they owe you, it might be worth it...

[silverfox1961]

Hi Suzanne,

I have edited a post you made slightly as it contravened the rules. Can you ensure that you don't make comments that would be difficult to prove

[Mike_hawk]

Valdmann stepped down in February, just the 1 director listed now [Anatoly Maximov]. Whilst its ceases to trade in regulated matters I'm not entirely sure the business ceases to exist as an entity within the UK.

 

Enforcing FOS decisions are not always understood at county court level, the instrument which provides for this is the FSMA 2000, its effectively an application which relies on CPR 8.1 (2) (a), Court form is N322A

 

Not a clue what the fees are for part 8 applications, probably more that they were a year ago but its worth checking to find out if you qualify for fee exemption

 

There's a few links below which may assist:

 

http://hmctsformfinder.justice.gov.uk/HMCTS/GetForm.do?court_forms_id=552

 

https://www.justice.gov.uk/courts/procedure-rules/civil/rules/part08#8.1

 

http://www.legislation.gov.uk/ukpga/2000/8/schedule/17/paragraph/16

 

[ATTACH]56991[/ATTACH]

[fkofilee]

Why not try the FSCS?

They might beable to help?

[suzanne80]

the fscs said they don't cover payday loans

[acid53]

this is clearly a ridiculous situation - i dont believe there is anything legally that FCA can do to stop a company winding up but surely they could have done something to ensure that there was a condition to ensure when the debts were sold on that all liabilities were covered

 

minicredit have done fos and fca up like a kipper!

[citizenB]

Along with the links given by Mike Hawk, the following should give you sufficient information to move forward with your claim, Suzanne.

 

 

http://www.financial-ombudsman.org.uk/publications/factsheets/enforcing-an-ombudsmans-decision.pdf

Edited April 7, 2015 by citizenB

[suzanne80]

I have now sent enforcement papers, does anyone know what happens now? these have been accepted by the court. Also I looked on companies house and Microcredit still showing as active.

[Mike_hawk]

Wait for service of the order, its effect is to convert the tribunal decision to a judgment which can be further enforced.

 

I'd be inclined to spend the time doing some digging and try to identify any assets the business has in England or Wales. Depending on what you find and the cost of each enforcement option you can then make a decision on your next step.

 

The FoS may be able to provide you with information it holds on the business

 

Out of interest, how much was the part 8 application?

[suzanne80]

it was 40 gbp, thank you for your help

[suzanne80]

I had originally completed an MCOL which was 60, which I can now send warrant, but it would cost extra 70 and im unsure if any assets, so it may be waste of money, I have been looking and searching trying to find information

[Mike_hawk]

You've confused me with the last post........Do you mean you filed a claim when you already had a tribunal judgement in your favour? Additionally you've now you've filed a part 8 application to enforce the tribunal decision?

 

These are 2 separate actions, the part 8 is the accepted action on a tribunal decision....... this is the one you enforce

 

If you have a separate part 7 claim [your reference to originally completed MCOL?] it will only serve to confuse matters as it retains the possibility of being set aside if you do find any assets and attempt to enforce it.

[suzanne80]

You've confused me with the last post........Do you mean you filed a claim when you already had a tribunal judgement in your favour? Additionally you've now you've filed a part 8 application to enforce the tribunal decision?

 

These are 2 separate actions, the part 8 is the accepted action on a tribunal decision....... this is the one you enforce

 

If you have a separate part 7 claim [your reference to originally completed MCOL?] it will only serve to confuse matters as it retains the possibility of being set aside if you do find any assets and attempt to enforce it.

 

 

I have taken further action on the MCOL as just carried on with other form, I have been doing this all myself as not been able to get help or advice from anywhere. It so frustrating. I am just getting so confused how the FCA have allowed this to happen. Poor people still in debt as debts passed on but yet no one has been passed what they owe, surely this is such a silly situation

[suzanne80]

sorry I mean haven't taken further action with MCOL, microcredit ignored all correspondence anyway so I was entitled to a warrant, but haven't done it, as thought the other form would be better as through court closest to Microcredit offices