Pentagon (UK) Ltd, trading as MoneySaveSolutions.com, Eurodebt Financial Services
Failed 03 March 2021
Pentagon (UK) Ltd was placed into administration on 13 June 2019. Stephen Katz and Paul Appleton of David Rubin & Partners, have been appointed as joint administrators.
Pentagon (UK) Ltd used the trading style MoneySave Solutions, providing debt management services to its customers.
The administrators intend to carry out an orderly wind-down of the business and will shortly be writing to the customers of the firm to notify them of their appointment as administrators and provide details on what happens next.
See our debt management plan compensation limits and their conditions on our Debt management page.
Download the determination papers (pdf 0.2MB)
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12 Mar, 2021
Pentagon (UK) Ltd was placed into administration on 13 June 2019. Pentagon was authorised by FCA from 31 August 2017. It provided debt management services.
We’ve been investigating the firm – also known as MoneySave and EuroDebt – since they went into administration.
We reviewed over 12,000 completed or lapsed debt management plans during our investigation. We didn’t find evidence of systemic overcharging. As a result, we aren’t accepting claims against Pentagon.
However, a small number of its customers were overcharged certain fees. We’ll contact those customers this week to outline compensation details. We’re only compensating for overcharging from the date the firm was fully authorised by the FCA, which is 31 August 2017. See our debt management plan compensation limits and conditions.
If you transferred a Pentagon debt management plan to another debt management provider, your case isn’t in the scope of this investigation.
The administrators, Stephen Katz and Paul Appleton of David Rubin & Partners, were appointed as joint administrators. They continue to carry out an orderly wind-down of the business. We’ll update this page with more updates.
To talk to someone about any current debt or financial worries, The Money Advice Service provides free, impartial advice and support online and over the phone. You can find out more about them on their website at www.moneyadviceservice.org.uk
04 Jul, 2019
Although the firm is in administration FSCS is not accepting claims against Pentagon (UK) Ltd. FSCS protection for debt management companies is limited to the money that these firms hold on behalf of their customers. At this time the administrators do not think that there is any shortfall in client money. The administrators intend to keep the company running for a period and any client money held by the Pentagon (UK) Ltd will either be passed on to creditors or returned to customers.
If customers have any questions about their debt management plans they should contact the administrators on 01234 836550.
Customers can also get free and impartial guidance from the Money Advice Service by calling 0800 138 7777 or by visiting the Money Advice Service's website.