Updated: 25/06/2025
The Joint Administrators explored the sale of the Company’s loan book however, they were unable to find a suitable purchaser which the FCA deemed appropriate. The ultimate preferred bidder didn’t have the appropriate regulatory permissions to purchase the loan book.
Bob Maxwell and Julian Pitts were appointed as Joint Administrators over Hamsard 3225 Limited trading as ‘CLC Finance’ (“the Company”) on 8 August 2023. The Joint Administrators act as agents of the Company and without personal liability.
The Company provided lending services to the UK consumer market. Should you have any queries please contact the Joint Administrators via email at [email protected].
Q – What is an Administration and the role of the Joint Administrators?
A – An Administration is an insolvency process used by companies that are unable to pay their debts as they fall due. An automatic moratorium was placed over the Company as a result of our appointment. This means that no creditor can take legal action against the Company (to include taking action against its assets) except with leave of the court or the permission of the Administrators.
An Administrator’s role is to realise the assets of the Company and distribute them for the benefit of creditors. The Joint Administrators will provide regular updates to creditors.
Q – Who are the Joint Administrators?
A – Bob Maxwell and Julian Pitts were appointed as Joint Administrators of the Company. The Joint Administrators are qualified insolvency practitioners, regulated by the Institute of Chartered Accountants in England & Wales.
The Joint Administrators act independently of both the Company and the directors for the benefit of all creditors.
Q – What is my position if I am owed money by the Company?
A – If you are owed money by the Company you will be classed as a creditor and will have a claim in the insolvency procedure.
Q – How much money am I going to get back, and when?
A – Unfortunately, there are insufficient funds to enable a dividend to be paid to creditors. The Administration will shortly be concluded.
Q – What should I do if I have information about the Company?
A – The Joint Administrators would welcome any useful information in relation to the Company which may assist us. Please provide any useful information via email at [email protected].
Q – What can I do if my question has not been answered?
A – Please contact the Joint Administrators at [email protected] for any additional queries you may have.
Q – What will happen to my data held by the Company?
A – The data will be held by the Company in line with regulatory requirements.
Q – Who do I contact to make a complaint?
A – Please contact us at [email protected] should you wish to make a complaint.
However, please note that there are insufficient funds to enable a dividend to creditors and there will be no financial return to creditors.
Q – What will happen to the Company?
A – No new lending will be provided by the Company. Now the Company is in Administration, the Joint Administrators are winding down operations which will shortly be concluded.
Q – What happens if I haven’t repaid my loan obtained from the Company?
A – The Joint Administrators explored the sale of the Company’s loan book however they were unable to find a suitable purchaser which the FCA deemed appropriate. Accordingly, the Joint Administrators have concluded to write off the remaining outstanding loans. This means that customers are no longer liable for their outstanding loan amount and their balance will be reduced to zero.
The credit referencing agency has been notified of the loan write offs and the Joint Administrators have requested they will update all customer’s credit files to reflect the new status of any outstanding loans.
Q – I have received confirmation from the Company that my affordability claim has been agreed and the amount I will receive. When will I get this?
A – You will be classed as a creditor of the Company and unfortunately, there are insufficient funds to enable a dividend to creditors and therefore there will be no financial return to creditors and the Administration will shortly be concluded.
Q – Will the FSCS pay my claim if the Company cannot?
A – The FSCS do not cover claims under consumer credit agreements so it will not be paid by the FSCS.
Q – What should I do if someone approached me saying they can assist me with making a claim?
A – Customers will not be approached by the Company or the Joint Administrators to assist with the submission of a claim.
You should not provide details of your claim to anyone who approached you if they allege they work for the Company or the Joint Administrators (Begbies Traynor). If you require assistance or are unsure of the origin of the correspondence you have received, please feel free to contact us at [email protected].
Q - What if I am contacted by a third party to make payment?
A – Customers will not be expected to make payments to any outstanding loans in relation to this matter. If a third party attempts to contact you for this, you should not provide details or attempt to make a payment to the third party. If you require assistance or are unsure of the origin of the correspondence you have received, please feel free to contact us at [email protected].
Q – Where can I get additional advice?
A – You can get free advice about how to manage your debts by contacting:
Citizens’ Advice Bureau:
Website: www.citizensadvice.org.uk
Step Change
Telephone: 0800 138 1111
Website: www.stepchange.org
National Debtline
Telephone: 0808 808 4000
Website: www.nationaldebtline.org
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