Debt firm director sees another brokerage go into liquidation

Ian Guy, who was once the chief operating officer of Relax Group, has been named as a director of Blue Star Financial Services Ltd, which was liquidated on November 25 2010.

The Doncaster-based credit brokerage, which launched in January 2010, offered debt adjusting, counselling and collecting services, as well as mortgages and claims management.
 
Blue Star Financial Services also traded under the names In Touch Financial Solutions, debt3options and Mortgagereview. It had 37 members of staff.

Ian Guy has headed up a string of dissolved businesses, including Relax Group, Debts.co.uk Ltd and 1st Advice Ltd.
 
Relax Group was bought by David Mond, the chief executive of rival debt management firm Cleardebt, in November 2009. Having paid around £3 million for the group’s debts as a private investor, he then appointed administrators to Relax.

Commenting on the collapse of Relax Group on his LinkedIn page, Ian Guy states: “Credit crunch killed lending overnight and then got beaten in an attempt for an MBO. New buyer was a competitor who now laying off all staff!”

Giving details of Blue Star Financial Services, Mr Guy writes: “We are developing a new mortgage and secured lending company... Great staff and all good habits from Relax-here we go again!”

The liquidator appointed to Blue Star Financial Services is Darren Terence Brookes of Milner Boardman & Partners, who was unavailable for comment at the time of going to press.

Source: Debt Management Today