Griffins appointed to Total Debt Relief Limited (TDR trading as Minerva Finance)

On 11 September 2018, The Financial Conduct Authority (FCA) obtained an urgent High Court Order appointing a Provisional Liquidator in respect of Total Debt Relief limited (TDR), to protect its customers’ money. The FCA is also petitioning for TDR to be wound-up, the petition for this will be heard at a later date.

Stephen Hunt of Griffins Insolvency Litigation and Forensics has been appointed as Provisional liquidator. As the appointment is provisional, the management of TDR will have the opportunity to challenge the FCA’s concerns before the Court and to apply to have the appointment of the Provisional Liquidator set aside.

The FCA had concerns over how the debt management company was handling the money of its customers. The FCA has therefore taken various steps to protect the interests of TDR’s clients, ultimately applying for the Provisional Liquidator to be appointed so he can take steps to secure client funds. The FCA has also launched an investigation into the activities of the firm.

The FCA will write to all affected TDR customers to advise them of the free help and advice that is available to them through the Money Advice Service and will continue to work closely with the firm to ensure that customers are treated fairly.

TDR is a debt management company which operates a full and final settlement model.

This typically sees the customer make payments to the debt management firm which, in turn, makes a minimum or nominal payment to the creditor. The remaining balance of the payment from the customer is held by the debt management firm to create an accumulated fund over time which is then used in negotiations with creditors.

The FCA has encouraged customers who have set up a direct debit with TDR, or who pay TDR by standing order to contact their banks to cancel the arrangements.

A full copy of the FCA statement is available from the FCA website at

How to Claim

The Provisional Liquidator will gather as much information as possible from creditors and former clients of the firm about payments made to, or owed by, the firm. Whilst we cannot deal with individual questions from clients and creditors at this time, we ask that anyone who believes that they are owed money by the firm should contact with the following information as soon as possible:

  • client reference number
  • copy of the signed agreement initially entered into with TDR
  • full name
  • address and contact details
  • brief summary of claim
  • copies of any documents (such as an agreement entered into with TDR) that will support your claim

Please do not call us. We are not able to advise TDR’s former clients on their outstanding debt arrangements i.e. the money that they still owe to others. Therefore, we would urge all former TDR clients to follow the advice set out in the FCA statement and contact the Money Advice Service (online at or by phone on 0800 138 7777)