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Snake · Post by **Snake** » Mon May 02, 2011 12:09 am

http://blogs.mirror.co.uk/investigation ... tient.html

Radley Rambler · Post by **Radley Rambler** » Mon May 02, 2011 4:30 pm

Whilst it's ironic, not good news for the club if a sponsor goes awol.

Snake · Post by **Snake** » Mon May 02, 2011 8:41 pm

Agree, but how does a company that specialises in debt management allegedly become half a million quid in debt, and to whom? Specifically, does that include Oxford United? IÔÇÖd ask via his website, but itÔÇÖs currently ÔÇ£under constructionÔÇ? - http://www.debtdr.co.uk/

Swissbloke · Post by **Swissbloke** » Mon May 02, 2011 11:20 pm

I hope the club was paid as close to full as possible for the sponsored reads.

Sackcloth Ox · Post by **Sackcloth Ox** » Tue May 03, 2011 8:54 am

[quote=&quotSnake&quot]Agree, but how does a company that specialises in debt management allegedly become half a million quid in debt, and to whom? Specifically, does that include Oxford United? I’d ask via his website, but it’s currently “under construction

slappy · Post by **slappy** » Tue May 03, 2011 10:46 am

how does this business work? It sounds like there are sales agents who help restructure debt, presumably DebtDr takes a commission and pays the agents? So are agents, suppliers, customers and the owner out of pocket?

OUFC4eva · Post by **OUFC4eva** » Tue May 03, 2011 12:03 pm

The &quothey day&quot for debt management companies was probably around 4-5 years ago when IVA's (Individual Voluntary Arrangements) were &quotflying off the shelves&quot as a quick fix for many people and debt management/relief orders were all the rage for heavily indebted individuals.

That was until the Banks got wise to it.

Brian Smith · Post by **Brian Smith** » Thu May 05, 2011 6:33 pm

Two weeks ago the company debt DR was quitely closed. To-date there have been no suggestions of how the customers who have funds deposited in client accounts witth the company are to recover their Money.

How long has the company been in difficulty, how much is missing and where has the money gone?

Has anyone got any news? Has anyone spoken to Jeremy Hockley?

Are there any other customers of debt Dr on this forum that know anything?

slappy · Post by **slappy** » Thu May 05, 2011 8:04 pm

In theory you go to the receiver and say &quotI have £10 in the client money account&quot, and he looks at the company's record of the client money account and there is £10 with your name against it and you get your money back. The main point of a client money account is that it is ringfenced from the business, so creditors of insolvent company can't call on cash in the client money.

But that relies on the client money account(s) being operated correctly. Amongst many things which can go wrong:-
- the owner borrows from the client money account
- the cash transfers required from the office account to client account haven't taken place (Lehmans)
- some clients are 'overdrawn' in the client account (which means that there isn't enough money to pay everyone in credit)
- the owner has taken fees 'on account' from balances in client account
- bank(s) in which the client money was held is bust (Iceland etc)

Not suggesting any of the above has taken place of course.

Brian Smith · Post by **Brian Smith** » Fri May 06, 2011 8:31 am

I have heard on other forums some customers are currently £1,000 or more out. With no sign of where they will get their money back.

Has anyone got any news.

The advice seems to be if you have money missing call in the Police either in Yeovil or Taunton and contact the OFT 08454 040506.

Hog · Post by **Hog** » Fri May 06, 2011 10:40 am

How much are you down Brian?

Brian Smith · Post by **Brian Smith** » Fri May 06, 2011 5:24 pm

We just can't afford to let this go. Iit will take everything we have left, the house everything.

Snake · Post by **Snake** » Fri May 06, 2011 6:26 pm

Can I just add a quick note to say that although I started this thread I don’t really know Jeremy much and nothing at all about Brian Smith.

I’m also careful with my money and disliked the sponsorship jingle whenever we brought on a sub. Yes, it would have brought in some cash but it's like prostituting the name of Oxford United as very few other clubs do that. &quotFarce&quot is the word that springs to mind and I can only guess it was Mr. Merry that took Debt Dr. on board the Oxford United ship as he knew all about debt.

Right, now can someone point me in the direction of the exit route in this thread..

Brian Smith · Post by **Brian Smith** » Sat May 07, 2011 10:56 am

Snake I can understand how you must feel.

The club seems to have had sponsership for Hockley and his company since 2006. I know he is a very big fan of Oxford. (No pun intended).

I wonder if it has been the clients money that has been supporting the club and how long that has been going on. Many people that could not afford it are now desperate because of his actions.

Snake · Post by **Snake** » Thu Dec 01, 2011 4:46 pm

http://www.bbc.co.uk/programmes/b017smnb

More fame for Debt Doctor, and Oxford United get a mention. p.s. This clip can only be viewed until December 5th.

Rage Online

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Re:

Debt Dr

Client Money

Too much.

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