I have learned that the above company - which trades in the personal insolvency marketplace as Synergi has entered Administration today. Administraton is a form of corporate insolvency, which appoints specialist insolvency practitioners to run the business whilst it can be marketed either on a going concern or break up basis.
Any forum posters who are clients of Synergi who may be concerned about the future of their IVAs, can rest assured that the administrators will be working hard to ensure continuity of service, and that the IPs regulatory bodies will be standing by to step in and transfer cases to other IPs if necessary.
It is sad to see a major player in the personal insolvency marketplace face its own financial difficulties, and I do hope that the Administrators manage to find a positive way forward for the clients and employees of that company very soon.
this is nothing to do with your post but wanted to thank you for your advice when i first came on this site.
I was after advice about getting my partner removed from my bank account, luckily the bank have admitted they were at fault adding my partner when he had been made bankrupt previously and have removed him.
It has delayed my IVA somewhat, but i have my creditors meeting on Dec 3rd and it's such a relief knowing my partner won't be left with the 4k overdraft debt.
Thanks once again
R x
I would just like to say that my thoughts are also with the staff of Synergi. The clients will be fine and their money completely safe but it would be a very worrying time for the staff.
Hopefully the administrators can allow the business to continue with little or no job losses.
Hi
Do you have any idea Mel as to the reasons behind the administration ?
With the insolvency numbers as high as ever you would expect companies to be flourishing
Regards
Yes I do have ideas Andy, but as they are just my opinion I probably shouldn't share them on a public forum. Companies become insolvent for a variety of reasons, but I am sure this group are now in safe hands and let's hope those jobs can be saved.
I really hope that they can continue with as few job losses as possible,both for the sake of the staff there and for purely selfish reasons - I've had a great service from Synergi so far (30 months in!!) and would much rather continue to deal with them than be transferred.
Lets hope so Melanie, life is difficult enough without losing your job etc as well, i wish all those that work for Synergi well and hope that they don't end up unemployed. Sending positive thoughts and energy.
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
I have my IVA with Synergi and I have had no real problems with them only often the time it took them to do anything (accept for last Annual Review which they did in 10 days!) My thoughts like other are for the staff it is never a good time to unsure about your job but at this time of the year.
Jan
Nothing you can buy feels as good as not being in debt.
Hmmm. Shoot me down for saying it but having read the news reports relating to this there is a member of the forum whose thoughts on this thread are conspicuous by their absence.
Whoever you may be referring to may have no thoughts on the matter one way or another or find it inappropriate to, as Mel says above, express opinions on a public forum.
Regards.
Cert DR
23+ years in debt advice
I do not post for anyone other than myself
I'm not sure what you mean Kitkat, but at the moment I think our thoughts should be with the people who are faced with the prospect of losing their jobs just before Christmas.
Yes, fair enough. And my thoughts are with the staff, like I said, I've had a great service from them and although there is never a good time just before Christmas is obviously a terrible time to lose your job.
Given that costs of running IVA's are taken early on,I still cant work out how you end up in administration when you are getting money in every month??
How can a company possibly run up any debts??
I know you dont think it appropriate to comment Mel,but give us a clue as to how a company dealing in insolvencies can become insolvent??
Paul(curious)(but not in THAT way!!)
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
