What happens to my money?
The money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to.
The SRA or the agent will try to return any money the firm was holding for you.
Claiming your money from the firm's bank accounts
You need to make an application for money to be returned to you.
To claim your money from the bank accounts of a firm we have closed down, contact us.
If the firm's accounts are not in good order, it might be hard to work out exactly how much money is owed—and to whom. For that reason, it might take us or the agent some time to return your money.
Applying to our Compensation Fund for a grant
If we cannot return money you are owed from the firm's bank accounts, or if we can only return part of the money, you can apply to our Compensation Fund for a grant.
If you urgently need money that a firm we have closed down was holding for you, and you cannot wait for us to look at the firm’s accounts, you can apply to our Compensation Fund for a grant.
We cannot guarantee that you will get a grant, and you must prove that the solicitor was holding your money or that you are suffering hardship because we closed down your solicitor’s firm. For more information, contact us.