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Debt management firm Debt Help Direct has ceased trading as it faces a criminal investigation.
The company, which also uses the trading name Money Worries, is being investigated by Cheshire Constabulary.
Cheshire Police confirmed that it is in relation to the arrest of a 38-year-old man from Macclesfield at business premises in Handforth, near Wilmslow, on 6 March.
The male was arrested on suspicion of fraud by false representation, theft of clients’ monies and possession of Class A drugs.
A residential address in Bonis Hall Lane in Macclesfield was also raided by police and a quantity of what are believed to be controlled drugs was seized.
In a statement, Cheshire Constabulary said: “We have details of all the account holders and work is in hand to facilitate the process of assigning the customer accounts to another company or group of companies to assist in the management of all customers’ debts.
“We are hopeful that this process will be concluded sometime in the week commencing Monday 11 March.”
The Credit Services Association (CSA) has alerted members to the transfer of clients from Debt Help Direct.
Claire Aynsley, head of membership and compliance at the CSA, said: “At this current time, we are unaware who the other DMCs will be, however, as soon as we have further details, we will update members accordingly.
“Given the circumstances, the Office of Fair Trading is happy for members to make direct contact with any customers they may have who are in a plan with Debt Help Direct and/or Money Worries.”
The company, which also uses the trading name Money Worries, is being investigated by Cheshire Constabulary.
Cheshire Police confirmed that it is in relation to the arrest of a 38-year-old man from Macclesfield at business premises in Handforth, near Wilmslow, on 6 March.
The male was arrested on suspicion of fraud by false representation, theft of clients’ monies and possession of Class A drugs.
A residential address in Bonis Hall Lane in Macclesfield was also raided by police and a quantity of what are believed to be controlled drugs was seized.
In a statement, Cheshire Constabulary said: “We have details of all the account holders and work is in hand to facilitate the process of assigning the customer accounts to another company or group of companies to assist in the management of all customers’ debts.
“We are hopeful that this process will be concluded sometime in the week commencing Monday 11 March.”
The Credit Services Association (CSA) has alerted members to the transfer of clients from Debt Help Direct.
Claire Aynsley, head of membership and compliance at the CSA, said: “At this current time, we are unaware who the other DMCs will be, however, as soon as we have further details, we will update members accordingly.
“Given the circumstances, the Office of Fair Trading is happy for members to make direct contact with any customers they may have who are in a plan with Debt Help Direct and/or Money Worries.”
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