Debt Collection Company Closed Down by UK Trade Department

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00017160-debt-collection-company-closed-down-by-uk/

A Birkenhead, England company that offered debt collection services has been shuttered after a successful Department of Trade & Industry (DTI) investigation.

Allied Collections Limited offered to pursue debts on behalf of clients for a standard fee. People paid between Â£200 and Â£1200 plus a 20% commission on any money recovered.

Although the company failed to maintain proper accounting records DTI investigators were able to establish that they failed to hand over the money collected from 731 debts totalling over Â£173,000 ($315,000). Instead of customers getting their money, Allied used it to fund its day-to-day trading.

For this complete story, please visit Debt Collection Company Closed Down by UK Trade Department.

Debt Collection Company Closed Down by UK Trade Department

Unknown Author

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