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Deposit trouble
Deposit trouble
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Hello,
Nearly two years ago we changed letting agents when the service we were receiving from our existing one was deteriorating.
We could not transfer the deposits held on our behalf by the existing agents (who used the Tenancy Deposit Scheme) direct to the replacement agents because they used mydeposits.
I therefore opened my own account with TDS and the existing agents transferred the deposits they held to my new TDS account, (or so I thought).
It now appears they failed to transfer or failed to register two deposits.
They have since gone out of business.
I am unsure what to do.
There is no point in taking Court action because the firm no longer exists.
Failure to transfer should mean that the deposits are still protected despite the fact the TDS account relates to a firm that is no longer in business.I have not asked TDS whether they still have protected deposits in the name of that firm and I expect they would say they cannot confirm because of confidentiality.
If, alternatively, the existing agents failed to register in the first place that means they kept the deposit money which is illegal and I would not think the fact they were a limited company would protect the individuals who owned and ran the company?
I would be very grateful for advice if this is a situation others have faced in the past.

13/01/2020 09:47

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