Jump to content


jacobina

Investment Bond not defaulting on dividend payments

Recommended Posts

I came into a small inheritance which I wanted to invest and gain a regular income.    The company I chose offered a good rate with quarterly payments over a two year period (bond).   On research the company had a good track record.    The first two payments were paid on time, the third payment was made a month late and the fourth payment remains unpaid.    The company say they will pay the June/Sept/dec 2019 payments in December.      However,  phone calls have gone unreturned and a meeting cancelled the day before, I have now written to them requesting my funds back as they have broken the contract they have with me.   The date on that letter for payment to my bank in full has just expired.   There is an insurance policy held by the company.

 

Also, I was introduced to this investment by a broker.    What to do now?

 

any advice would be appreciated.

Share this post


Link to post
Share on other sites

Thread move dto the appropriate forum ..please continue to post here to your thread.

 

Andy


We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

If you want advice on your thread please PM me a link to your thread

Share this post


Link to post
Share on other sites

Hi.

 

Can you tell us the name of the insurance/investment company and what the name of the product is please?

 

HB


Illegitimi non carborundum

 

 

 

Share this post


Link to post
Share on other sites

Is the company regulated by the FCA in the UK? Is it also a regulated product?

Share this post


Link to post
Share on other sites

the broker will have insurance to ceover them so I woudl start off by asking them to explain themselves.

Now most bonds guarantee to pay out the scrip before they have to pay anyone else so no paypuit will generally mean the company has gone belly yp.

If it was a reputable firm in the first place you would ahve received notice of this and again that points at the broker and their requirement to show due diligence.

You can name names of just go straight to the FCA and see what they say abouit protection of your interests

Share this post


Link to post
Share on other sites

Thankyou.  The broker said they had carried out due diligence at the time and I checked companies house.   The broker also said an insurance is in place to protect investors.

 

however, the broker is now doubtful that the insurance is legitimate 😩.  Do I have a claim against the broker?    Also will the FCA assist although the company is not covered by their ‘guarantee’.   It is a British company and a uk citizen.   I do not want to name and shame As do not want to hinder what may well become a court case. 

Share this post


Link to post
Share on other sites

That's up to you,  but if you won't tell us what the product is,  we can't check it out. Would you PM me the name of the company and the product in confidence?

HB


Illegitimi non carborundum

 

 

 

Share this post


Link to post
Share on other sites

FCA will assist if the broker is legit and may take action if they arent so a plus plus there but they are VERY slow at starting to do anything.

Brokenr will obviously tell you anythg to get out of paying you back so take what they say with a pinch of salt and dont commit to agreeing anything with them

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...