Cash4phones files for insolvencyCustomers referred to creditors
10 January 2014
Mobile phone recycling site Cash4phones has filed for insolvency, potentially leaving hundreds of consumers out of pocket.
The business worked by paying users for their old mobile phones, but the latest turn of events will undoubtedly see lots of consumers with their handsets in limbo, having been sent to the company, but without payment yet received.
The company's website has been taken down, and its phone number is out of service.
What can I do if I'm affected?
An insolvency company, Capital Books, has been appointed to handle the liquidation of Cash4phones, and this should be the first port of call for anyone looking to claim payment or have their mobile phone returned. Which of these options you could ask for could depend on where you were up to in the process and whether the price to be paid for the phone had been finalised.
Capital Books can be contacted on 01622 754 927, or by email at email@example.com. There will also be a meeting of creditors on the 13th of January, where the Director of Cash4phones will be present.
If you've been affected by this news, lets us know in Which? Conversation.
What is the best way to sell my old mobile?
If you have considered using a mobile recycling site in the past, but the latest news about Cash4phones has put you off, there is an alternative, and more profitable way to sell your handset.
Research carried out by Which? recently revealed that selling a used phone on eBay would always get consumers a better deal than sending it to a site like Cash4phones, Mazuma or Envirfone, in some cases by as much as 200%.
Read more about how to get the best price from eBay, and how to ensure you're protected, on Which? Tech Daily.