HELP is on the horizon for investors who lost money with five former investment firms in the North West.

Anyone who lost money through dealings with the firms can now submit claims to be considered by the Investors Compensation Scheme.

Critchley and Company, of Bolton, Mazewell Ltd, of Sale, Trinity Portfolio Life and Pensions Ltd, of Manchester, Russell Ward Ltd, of Wigan and Michael Fish Insurance Services, of Gatley, Cheshire, have all been declared in default by the scheme.

The scheme, a formal process which follows detailed investigations of firms' abilities to make good investors' financial losses, steps in when it is satisified the firms can't pay.

Not every claim can be met and each one is scrutinised and has to fall within the rules laid down by the Financial Services Authority.

Compensation may be paid when there is a financial loss, the firm cannot meet claims made against it and the dealings were with a UK authorised firm and took place after August 28 1988.

If dealings did take place after this date, investors are still encouraged to submit claims for detailed scrutiny as sometimes subsequent advice may have been given which could affect the claim.

Investors who think they may have claims against any of the five firms should contact the scheme as soon as possible.