Debt advisers have warned against an army of sharp operators offering troubled companies short cuts to dodge their debts. The warning comes as Financial Mail has found that one debt adviser whose businesses were closed down by the High Court at Christmas ‘in the public interest’ started up again within weeks offering his advice to Britain’s small companies. The man behind the firms, Philip Allingan, told Financial Mail his latest venture, Business Advice Services, would help companies when their own accountants might not.

The Government’s Insolvency Service went to the High Court last December to close down Allingan’s two previous debt advice firms – Buy My Debt and The Trusted Partnership. The firms promised to help individuals negotiate with creditors to cut their debts or to take over the liability for them entirely. Clients were charged £1 plus ten per cent of their debt and a £250 fee in return for supposedly offloading what they owed..........Read more HERE: Debt adviser who had firms closed by the High Court is back with new venture