When sweet investments turn sour
Let’s set the scene. You were dazzled by a shiny investment prospect. The promise of returns were high, and the representative sold the heck out of it.
Perhaps the first date (or two) of your dividend payments came around and you got paid. Great. All was going to plan. But then…
Help! There’s been a missed payment on my dividends. Where do I turn to?
Firstly, of course, you must contact the company directly. If you get radio silence, or a dodgy excuse (a classic one is: ‘We are having administrative issues at the moment’), then you must act.
Secondly, it’s important that you ensure a single missed payment does not pluralise into missed payments. You must act if you’ve not been paid within 7 days of the scheduled date. Yes, as little as 7 days (although there may be a perfectly legitimate reason for the missed payment)!
Investment scam victims should act quickly
Far too many people give companies the benefit of the doubt by enduring months (and sometimes years) of missed payments. Stop being so polite! You’ve entered a contract the other party has broken, which gives you the right to do something about it.
Caught in a scam? You must act quickly. You’ll want to get your funds back before the company falls into insolvency, or its directors do a runner. In a previous post, we outlined the red lags to look out for. Do the utmost due diligence before deciding to invest.
But if you’ve already taken the plunge, don’t beat yourself up. The main step to take is to contact an independent advisory firm such as Insolvency & Law who will guide you in the right direction.
Instruct someone to take legal action on your behalf if you feel like you are in a tricky situation. Let them take over and alleviate any stress. And remember: 7 days. Don’t Hesitate. Act Now.
Castle Trust & Management Services – in Liquidation
The Confetti that was Security for Loan Notes Investigations have uncovered that Castle Trust and Management Services – in Liquidation (CTMS) – engaged in shady…
Read MoreThe Life Cycle of a Loan Note
We are not fans of unregulated investments but we realise that they look attractive (on paper). Inthis blog we explore what makes a Loan Note…
Read MoreDEBT ALERT: B Inspire D Homes Ltd – Insolvent and Still Trading
Our company alert this week is regarding B Inspire D Homes Ltd, a building development company with a registered office in Hayes, London. This company…
Read MoreDEBT ALERT: Signature Build Group Ltd – Insolvent and Still Trading
Our company alert this week is regarding Signature Build Group Ltd. They are a luxury building company based in Brentford, Essex, operating across London and…
Read More