• Moneycheats

The location that houses a CMC, insolvency advisers, a CIC & an FCA approved principal firm

A couple of weeks ago , the Moneycheats project was baffled when a CMR license number put into Google brought up 2 different companies: Payday Reclaim and Chadney-Smith Associates Ltd.

The screenshot above shows the 2 different companies with the same CMR license and was taken on the 24th October 2018 and subsequently tweeted about to the MOJ from the Moneycheats Twitter page. A current search however no longer shows the links to Payday Reclaim. Quite an intriguing case and especially so when you start to look in further detail as a registered claims management company, insolvency advisers, a CIC and an FCA approved principal firm all trade from the same address.

Putting Payday Reclaim to one side for the moment, the Claims Management Company registered under CRM42961[1] is Chadney-Smith Associates Ltd who trade from Exeter at the address-

10 Orchard Court, Sowton Industrial Estate, EXETER, EX2 7LL

The current director is Matthew John Osborn but previous directors have included the familiar names of Damien Kennedy, Ciaran Hamilton and Carolina Costa who shares the same address in Monaco as disqualified director, Mark Kennedy[2].

Chadney-Smith Associates Ltd used to be registered with the FCA and this ended in November 2017[3] but fortunately it had gained it’s CMC license in June 2017.

Osborn’s partnership with Costa also extends to the company, IP Advisory Services Ltd which was set up at the beginning of this year by Osborn but in which Costa has a shareholding between 25% – 50%.[4]

Interestingly, both are also shareholders in Castle Hill Insolvency Ltd[5], along with Stephen Colin Henson and the companies registered office address is: 10 Orchard Court, Heron Road, Exeter, EX2 7LL. The company[6] is registered with the ICO at this address (as is Chadney-Smith Associates Ltd) and Stephen Henson is a licensed insolvency practitioner.

Also registered to the same address on Google is Debt Consultancy Service CIC which is authorized by the FCA[7] as an Appointed Representative for the principal firm Two Financial Services Ltd.[8].

The website for Debt Consultancy Service CIC describes the company as a “Community Interest Company who provide free advice on debt, debt solutions and money management”[9] , while Matthew Osborn’s Linked in Page states “A not for profit organisation specialising in outreach projects which assist consumers with debt related problems, assisting with bailiff issues, benefit transfer and council tax arrears as well as running a duty of care campaign for lenders who have identified clients in need of debt advice.”[10]

Cleary this would amass considerable client data so the company is registered[11] with the ICO in Truro and with an additional name of, Stop Bailiffs.

Osborn is also a current director of Two Financial Services Ltd[12] and was also a director of TwoHomeLoans Ltd and Two Legal Services Ltd which are both now dissolved.[13]

Two Financial Services “are the FCA-registered principal firm of the growing 'Two Financial Services Network', which many businesses operate within as 'Appointed Representatives' in the Credit Counselling and Credit Brokerage sectors”[14] The firm are registered with the FCA for an address in Eccles, Manchester[15] but their website advises people to write to them at Unit 10, Orchard Court, Heron Road, Exeter. EX2 7LL.[16]

So an address which houses several companies, an awful lot of personal data and links to a disqualified director who has recently been linked with a CMC currently under investigation despite his ban.

And so back to the puzzle of the initial Google search which prompted all this. The current Payday Reclaim page belongs to Manchester based, Clear Legal Marketing Ltd[17] but the trading name, used to belong to the CMC, Two Legal Services Ltd who surrendered their license in October 2017[18] at the address:- Unit 10 Orchard Court, Heron Road, EXETER, EX2 7LL. The company was dissolved that month, presumably by director and majority shareholder, Matthew John Osborn.[19] who now runs the CMC, Chadney-Smith Associates Ltd instead.[20]






















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