Clients of two Tipperary companies subject to a High Court order preventing them from providing debt management services are being told the enforcement remains in place.
The Central Bank is also urging customers of Smart Resolutions Mediation LTD and Clonmel C&R Management Limited to urgently re-engage with their lenders or find an authorised debt management firm.
Earlier this month the Central Bank took legal action against Smart Resolution Mediation Limited – founded in Clonmel but based in Cashel – with its named directors as Geraldine and Thomas Quigley and Clonmel C&R Management Limited – of 12 Ash Court Clerihan – with its company directors named as Thomas Quigley and Cathal Quigley.
It stemmed from a warning issued by the governing financial institution back in August – against Smart Resolution stating it wasn't authorised to operate as a debt management firm – and to do so was a criminal offence.
The company's clients told Tipp Fm that paid an initial fee of €250 and then a set amount every month until the issue had been resolved – i.e. the company had been able to have the clients’ mortgage reduced or cleared.
In an updated statement from the Central Bank today – it says the High Court enforcement order against the two Tipperary companies and certain persons associated with them remain in place pending a further hearing on January 19th next.
The Central Bank is also advising customers of Smart Resolution and Clonmel C&R Management consultants to engage with an authorised debt management firm or urgently re-engage with their lenders to try and resolve or manage their debt issues.
In a statement Smart Resolution says it is restrained from providing any service to clients because it does not hold an authorisation to do so under the new regulatory regime in force, adding that any payments received heretofore have been in respect to services already provided to its clients.
The company also points out it has been introducing its clients to another debt management service in the meantime.
