FSCS confirms 7 firms have been declared in default in August and September

Regular notice that consumers could be in line for compensation

FSCS has confirmed that the seven firms below are in default – which means they have gone out of business and are unable to meet any claim themselves.

Customers who are owed money by these firms can see how they’re protected by visiting FSCS here - https://www.fscs.org.uk/what-we-cover/.

If a regulated financial firm is no longer trading and can’t pay a customer’s claim, FSCS can step in to pay compensation. Our recent podcast explains more about what it means when we declare a firm in default: https://www.fscs.org.uk/news/podcasts/episode12/.

We’re independent and our service is free to customers. Our protection covers money held in bank, building society and credit union accounts, and also protects insurance, investments, mortgage advice and arranging, debt management and funeral plans. Customers keep all the compensation they’re owed when they claim directly through us.

FSCS Chief Communications Officer, Lila Pleban said “Between April and the end of August this year FSCS processed 67,162 claims, paying customers around £184m in compensation to get them back on track when financial firms have failed.

Our highly skilled and experienced claims staff are ready to help people when a firm that owes them money stops trading. It’s also easy for customers to claim directly, free of charge on the FSCS website.

Visit https://claims.fscs.org.uk/ if you wish to make a claim with FSCS against any of these firms. You can also contact our Customer Services Team on 0800 678 1100 or 020 7741 4100, or by email at enquiries@fscs.org.uk.

For the latest FSCS news and information visit https://www.fscs.org.uk/ or follow @FSCS on Twitter.

Declarations by FSCS from 1 August 2022 to 30 September 2022 (7 firms):

  • Birmingham Inner Circle Community Credit Union Ltd (FRN 213254) 224- Ladywood Community Centre, St Vincent Street West, Ladywood, Birmingham, B16 8RP
  • Daniel Stewart & Company Plc, formerly Oval Ltd trading as Daniel Stewart & Company Ltd (FRN 145026) 33 Creechurch Lane, London EC3A 5EB
  • FSP Ltd (FRN 607441) 20-22 Wenlock Road, London, N1 7GU
  • Gloucestershire Credit Union Ltd (FRN 214254) The Gloucester Library, Brunswick Road, Gloucester, GL1 1HT
  • Mercia Financial Planning Ltd (FRN 718251) Cranford North Street, Atherstone Warwickshire CV9 1JL
  • Nationwide Benefit Consultants Limited t/a The Pension Reporter (FRN 624316) The Stirrups, Kidderminster Road, Cutnall Green, Droitwich Worcestershire WR9 0PW
  • Trust Financial Consulting Ltd (FRN 401459) The Mount, 199 Beer Road, Beer, Seaton, Devon, EX12 2QB


Media enquiries

Email: publicrelations@fscs.org.uk