09dolphin
Member of DD Central
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Post by 09dolphin on Nov 27, 2019 7:32:32 GMT
I'm not sure what my position is regarding money in my "available account". Specifically money not invested but it was available to be invested by myself before the site went bust. I had assumed that this was money protected but with all the other issues coming to light I'm beginning to wonder. Can anyone tell me if this money is "safe" or if this money can be "grabbed" by other creditors.
I know I was stupid in leaving money in what I thought were clients accounts, therefore are ringfenced and client accounts are normally safe as houses. Knowing the answer will decrease my stress levels even if it's not the answer I want to hear.
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arby
Member of DD Central
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Post by arby on Nov 27, 2019 8:23:37 GMT
Nothing is guaranteed, but it's generally expected that these funds will be safe.
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Post by mitosan on Nov 29, 2019 15:40:07 GMT
We've been told that there is £2.8m in the client money accounts and in the meeting yesterday I asked if this was more, or less, than the total sum of everyones available balances (uninvested funds). The administrators said that it reconciles.
There is still the issue of some funds having been co-mingled which will need resolving first but I think it is a promising sign and personally I am optimistic for a payout soon, at least it is likely to be resolved before most/all of the loans as these also suffer from the co-mingling but also their own problems.
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Post by valueinvestor123 on Nov 29, 2019 23:58:00 GMT
Can I still get £25 squids if I recommend a ‘friend’? 🤬
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