On 28 May 2021, the KPMG administrators announced they will be paying 3.21p in the pound to c 40,000 people who submitted a claim for unaffordable loans.
All 500,000 customers with mis-sold loans should have had their credit records repaired, see below.
40,000 people is a low number as the administrators calculated that more than half a million were mis-sold loans. Many people may not have bothered to claim as the administrators warned the amount could be less than 1p in the £.
You will get an email saying how much you will receive.
Payment details:
– most people will be paid by electronic transfer, likely to arrive in people’s bank accounts on Thursday 3 June 2021
– the payment reference will be “Elevate Sunny”
– a small number of customers who had not provided up-to-date bank details will be paid by cheque.
UPDATE 25 June 2021
A small number of bank transfers have failed. The Customer Service team has been attempting to contact these customers over the last few days and a second attempt at those payments is being made, expected to reach accounts on Monday 28 June.
Anyone who has still not received a payment they were expecting on Monday, should contact the Customer Service team. This will only be open until 30 June.
After that, any payments that have not been made will be paid to the Insolvency Service. See below Still not paid by end July for how to ask the Insolvency Service to pay you.
Contents
Background to the Sunny administration
- Affordability complaints: Template letters for many different sorts of credit
- Sunny’s payday lending – concerns about regulatory clarity
- Kerrigan v Elevate – Sunny loses a major court case
- Sunny goes into administration
- Sunny administration – some loans written off & the rest sold to a debt collector
More than half a million customer mis-sold loans
KPMG, the Administrators of Elevate Credit International, developed a Claims Calculator to work out which loans were likely to have been “unaffordable”.
On 4 November 2020, they emailed more than 500,000 Sunny customers who this calculator shows were mis-sold loans.
Sunny had about 700,000 customers, so for 500,000 of them to have been mis-sold loans is a shockingly large number.
By contrast, the Wonga administrators only had to pay out to about 400,000 customers. (Although that was because not all Wonga customers put in a claim. The Sunny administrators have been fair and assessed all customers. So we know that half a million figure is right.)
The Administrators warned there may not be enough money to distribute if too many people make claims. Even less than the Wonga customers received.
People had to put in a claim to get a pay-out. But there credit records were automatically being cleaned, see below.
The administrators said people may get less than 1p in the £
The Administrators warned there was very little money to distribute – they call this “a dividend”. If too many people claimed, there may be nothing:
If a very high volume of claims and queries is received, it is likely that the operating costs of responding to queries and processing and adjudicating claims will become so high that no funds will be available for a dividend to be paid to creditors.
If a lower volume of claims and queries is received and a dividend can be made, the dividend is likely to be a very low percentage of your claim… we estimate that any dividend payable could be less than 1p in the £ and that any payment would likely be made in Spring 2021.
If your last loan was sold to SLL
If your last Sunny loan was sold to SLL, you will not be getting any “set off” in the administration.
But you can complain to SLL and ask for set off, see No set off in a Scheme/Administration when debt had been sold? for details.
Your credit record should have been cleaned
The only good news here is that the Administrators decided to automatically clean up your credit record if they decided you had unaffordable loans:
- for the first five of the loans that have been decided to be unaffordable they will remove any defaults or missed payment markers;
- all unaffordable loans after the first five will be deleted from your credit record.
This is trying to follow what the Financial Ombudsman typically did in Sunny cases where there were a lot of loans.
The credit record updates and deletions should have been done automatically by the administrators by the end of November 2020.
If there is any chance you may want to make an affordability claim in future about anything – credit card, overdrafts etc not just high cost loans – then I suggest you immediately take a copy of your credit records while they still show the Sunny loans. See Get your credit records for free for how to do this.
But what if your credit record still isn’t right?
In January 2021 people were still saying their credit records weren’t correct. Some people had loans deleted then added back again.
Experian seems to be sorting things out but not Equifax or TransUnion. But you need to check all three CRAs to be sure what has happened to your data.
If you think Sunny hasn’t corrected yours properly then it’s no use asking the administrators. They say:
We have transferred the control of maintaining any remaining records to the credit rating agencies, as we will not be maintaining these records going forward. Any further queries regarding entries on customers’ credit files in relation to ECIL loans should be raised with the relevant agency directly.
So many people have been asking how to do this that I have written a separate article on it: How to correct your credit record if the lender has gone under.
Still not paid by end July
If you still haven’t been paid, you should email CustomerServicesEAS@Insolvency.gov.uk. Attach the email from the Elevate administrators saying what you should be paid. Attach your bank statements for June and July (wait until the end of July so you can attach a statement for the whole month) which show you did not receive a payment,
“Ripped off by Sunny, now let down by the regulators”
Many people will feel horrified when they see all the loans that have been assessed as unaffordable and the large amount of interest they paid on those loans.
It isn’t the Administrators fault the refunds will be so low, they are just dividing up what money there is.
It is the Financial Conduct Authority’s (FCA) fault:
- despite the rules about checking affordability, Sunny was allowed to carry on lending;
- the FCA didn’t insist Sunny had enough capital to pay out compensation claims; and
- the FCA hasn’t provided any back-up scheme to pay the compensation. If a PPI firm went bust, you would still have received a PPI refund in full from the FSCS scheme – but that doesn’t apply to payday loans.
Lauren says
Hello,
Sunny have removed all negative information and the defaults. However, I called the debt company and they said they won’t remove it. The debt company are saying it’s not there problem and I have speak to sunny, but the defaults are only recorded now in there name as elevate default is now removed. Can they legally do that?
Sara (Debt Camel) says
who is the debt collector?
They should mirror what Sunny has done. Send them a written complaint and take it to the Financial Ombudsman if this is rejected.
Lauren says
The debt collector is lantern. I will do. Thank you
Michael says
Hi Sara, I am a keen reader of this site which has helped massively in assisting others in the same situation. I can still see every Elevate loan on my credit report going back every month for years. Am I missing something in terms of them being removed? I too have a claim against them but it would be nice to know my credit report isn’t just a catalogue of hard searches for PDL.
Sara (Debt Camel) says
It isn’t clear what Elevate are doing but they don’t seem to have finished doing it yet.
Lorraine James says
Hi Sara
I have seen that KPMG have updated a new item on their information today.
I can’t access it but I am sure there maybe be some positive feedback. Fingers crossed they resolve it soon as spring 2021 has now sprung!!
Keen reader
L James
D says
Hi Sara, its baffling why they are changing the name so often on credit reports. What’s the logic on this? Is there a process credit agencies must follow or any rules on this.
Mark says
Hi,
My account was sold to a debt collection agency in 2018 before Sunny went into administration and my credit file updated to reflect this.
I feel the loans were unaffordable and have submitted a claim to the administrators.
As my loan was sold, is there anything I can do to have it removed from my credit file as it is in dispute?
Mark says
Anyone else in this situation?
Fred says
Any idea what I can do. I am trying to ask them to remove their entries on my credit file. I have 11 loans on my file that is causing me no end of problems.
When I email them to ask if they would remove it they copy and paste a reply everytime and tell me to contact the CRA’s who will clearly do nothing.
Other companies in administration have been more helpful and have agreed to remove them if the cra contacts them to check.
Anything I can do? Or anyone I can try to contact? I assume ombudsman wouldn’t get involved at this point.
Sara (Debt Camel) says
Did you send them a claim? Were these 11 loans upheld?
Fred says
I have submitted the claim but haven’t heard anything from them.
I had a previous complaint where they remove 15 other loans but still had 11 remaining. All paid and settled but I am trying to remove as many as I can. I have had luck with other companies in the same situation.
Sara (Debt Camel) says
A firm in administration generally only does what it legally has to – there is no appealing for a goodwill decision here. I doubt you will get anywhere with try to talk to the administrators.
As Sunny has not said they will delete the loans, you can’t go to the credit reference agencies direct and say a firm in administration is not deleting the loans as it should have.
Fred says
I might submit a complaint just to try.
Strangely Peachy said they would do it, Sunny just send me copy and paste replies.
Rachel Joy says
I phoned experien and they told me to raise them as unaffordable disputes and then they will try and contact Elevate, which they can’t do then they manually scrubbed mine. I hope that helps!
Timka says
Anyone has any advice on this? I received notification from credit karma that all my past Sunny loans have been added to my account in the last month. I got a refund from them as a result of going to FCO, it was ordered to wipe them out of my credit report and it was done 2-3 months ago. Sunny is in administration – how can I even dispute this? I want them gone.
Sara (Debt Camel) says
I suggest you send TransUnion (not credit Karma) a complaint saying Sunny should have removed all the loans from your account and this was done a few months ago but now they have been added back. Say you want them removed and if TransUnion can’t get Sunny to reply, then they should set the loans to “private” so they are not visible to other people looking at your credit record..
Timka says
Thank you so much. I will do that. I can even provide ombudsman letter to evidence this. Hope it works.
Amber says
Hi so i had 2 loans with sunny .. my partner 2 also. We had defaults applied 2019.
We both recived the email saying they were wiping negative data on 1st 5 and deleting any more.
We keep checking and they have chamged report to 0 balance ans satisfied or settled but not removed default as advised. Ive emailed them and get the auto reply of comtact CRAs.
Ive emailed transunion and raised dispute ive been emailed today saying not upheld? Also my partner has seen a change this week showing elivate adding 2 more records (like new credit) then deleting but the old 2 remain?
Sara (Debt Camel) says
You submitted claim to Sunny? Was this upheld?
Amber says
I out in a claim before the redress outcome through revolver and when waiting for outcome got an email 5th oct saying they were wiping balance and marking as settled. I emailed asking about ongoing claim ans removal of default and got this back. ” Dear Ms Snape,
Thank you for your email.
I can confirm that as part of our recent administration we have provided updates to the Credit Reference Agencies in relation to Sunny loans and where we have identified any loans as being unaffordable, irrespective of any complaint or claim against Elevate Credit International the first five unaffordable loans are being cleansed of any adverse reporting and any unaffordable loans after the first five are being deleted, if this has been applied to your account, you may find that upon re-checking your credit file that these loans have been removed or the adverse data cleansed.
I can confirm this approach has been taken across all customer accounts regardless of any claim being made and we have been advised that all corrections should be completed by 30/11/2020.” It didnt happen and so chased again for them to tell me the same and contact CRA. Just logged into sunny as seen someone say this in thread and it says cant claim redress. Im not bothered about money back just the defaults removed
Sara (Debt Camel) says
yes but that says “where we have identified any loans as being unaffordable, irrespective of any complaint or claim against Elevate Credit International the first five unaffordable loans are being cleansed of any adverse reporting “. Unless you know that your loan has been decided to be unaffordable, the default won’t be cleared.
Amber says
Oh okay .. and the no claim redress status on my account means they havent deemed unaffordable? It does give me the option to manually claim?
Sara (Debt Camel) says
I can’t be sure what has happened but what I said is a likely explanation.
Craig says
Hi all
I had 2 outstanding loans with Sunny, both of which I was told I didn’t need to make any further payments on when admin news broke last year.
Both are still showing on my credit file? Along with other old loans now deemed to be unaffordable, their original email said November to removing all these but they still seem to be on my credit file? What’s the best way forward with this?
TIA
Sara (Debt Camel) says
They still seem to be messing around trying to sort credit records out. I know it’s annoying but I suggest you wait another month. If it’s not done then I will be telling everyone how to complain to the credit reporting agencies.
Wayne says
Hi Sara,
I have just checked my credit report and can see all 14 loans I ever had with Sunny Loans have been removed from my report and then added again with balance of £0 and status of closed on all, over the last month. I have already put in a claim from which I understand they will start responding after 31st January. I have emailed Sunny asking why this has occurred and to remove them from my report as the majority were unaffordable and given irresponsibly. I’m dreading receiving the auto response some have received asking to contact CRAs. I’m not really to concerned about the redress as most like won’t be more than £100 but really want these off my credit report. It’s disgusting that a company like this has made millions off customers lending irresponsibly and without clearing the mess on our credit reports will be allowed to sail away in their large yachts paying us pennies for compensation and leaving us to chase CRAs to clear the mess on our reports. Surely there must be something that can be done and FCA made aware. Please advise.
Wayne says
Hi Sara,
I mailed Sunny asking why the loans have been removed and added again to my Credit report.
Sunny have responded saying that they provided final update to Experian, Equifax and TransUnion in October 2020 and so I will need to contact CRAs directly for an explanation. Sunny also advising they are now in administration and do not have the ability to update/amend Credit files and to contact CRAs directly.
Please advise what I can do. Surely they should be responsible for ensuring CRAs are updated correctly before they completely cease.
Sara (Debt Camel) says
I have added a new section What if your credit record still isn’t right? to the article above.
Andrew says
So far I’ve only had luck with Experian with this. I have been bounced back from CRA to lender on about 50 occasions.
Experian have removed the majority of mine now. But they are still showing on Equifax and TransUnion. I’ve raised them as disputes but then they say they’re waiting for Third Party response…..which Sunny reply with “they can’t respond”.
Any advice?
Sara (Debt Camel) says
persevere…
Make a formal complaint to the Equifax & TransUnion if you haven’t already
Andrew says
Would mentioning the Experian progress be useful in any way or will they disregard this as completely separate companies? Eg. Emails with screenshots?
Sara (Debt Camel) says
It can’t hurt!
Andrew says
So all Experian ones have gone now. Does that mean that they SHOULD go with the others?
Equifax are absolutely appalling. Have asked to speak to a manager but haven’t been able to get one after about 10 hours of waiting.
TransUnion have at least acknowledged my complaint.
Is anybody else having any luck?
Dave R says
Hi Andrew,
Have you raised this as a dispute with Sunny then to get them removed from your Experian? And it worked?
Andrew says
For Experian, I disputed the loans with them directly. No point in going through Sunny. They will not do it. I have sent countless emails to them and they are not changing their position. They say that they’ve already sent the details to the CRAs.
I have disputed mine with Equifax. Who repeatedly tell me to wait for Sunny’s response every time I ask for an update. I have told them countless times about the fact that they won’t respond. But each time, I get an update from a call centre worker to tell me that they are waiting for Elevate to reply. The service is appalling. I’ve asked to speak to a manager but nothing is forthcoming.
I’ve raised a formal complaint with TransUnion and Equifax now but as of yet had no response to this.
Unless you have the time, patience and will to do a lot of emailing, then I wouldn’t bother. I’m determined now but losing the will to live!!!
Sara (Debt Camel) says
You can take your complaint to the Finacial Ombudsman after 8 weeks. This is a hassle but I can’t see any easy alternative.
Andrew says
Breakthrough with Equifax today. So for others in similar position:
1) Ring Equifax helpline
2) Explain over and over and over again the situation (you will need to)
3) Ask to speak to a manager when they tell you for the 50th time that they are waiting for a response from Elevate (when you know it won’t come)
4) Wait 30 mins to be put through
5) Talk to someone who understands that Elevate have gone bust
6) Ask for the loans to be deleted
7) Finally got an email to say they’re being deleted and to check credit report tomorrow.
And failing that….never ever ever take out payday loans again!!!!
Good luck!
Martin says
Well done Andrew and thank you for your advice, can you confirm please were you able to get all Sunny loans deleted from your credit files? does that include loans that were mis-sold and loans they didn’t agree that were mis-sold?
Andrew says
Experian and Equifax have removed all
of mine. I too don’t know which loans were deemed unaffordable and which ones weren’t, so I asked for this info from Sunny. When I didn’t get an answer I simply asked for them all to be removed.
I’m hoping they won’t ever go back on….Sara in what circumstances would they put them back on? Presumably if Sunny got in touch…but that won’t happen now?
TransUnion is a complete nightmare for me at the minute. Haven’t had any email replies so going to give them until Monday and then ring and be forceful with them.
Asking to speak to a manager is almost definitely a requirement for anyone trying to do the same as me. The call handlers just say the usual…settled loans stay on credit reports for 6 years etc etc.
D says
Thank you will try this. Thus far, transunion and experian have removed them. Equifax is just not changing…
Andrew says
Equifax apologised to me and said their agents are now more trained in the matter.
I’m pretty sure they’ve got a blanket policy of removing all of your loans, in the same way as Experian.
So definitely ask to speak to a “resolution” expert (I think they were called)
Kerri says
Thanks Andrew,
I’ve have had similar with Equifax, I have had affordability claim upheld ( I haven’t had any details of how many of the 27 loans were decided as unaffordable but suspected it was majority as loans were small amounts and redress calculation was over £7k but know It will be pennies). All 27 loans with Sunny have reappeared on my credit file with Equifax, none with trans union union and 8 with Experian. All are recorded as settled and closed but according to my mortgage broker, it still affects decision about lending so challenging with Equifax.
I have had same response as you- settled loans stay on account for 6 years, I have persevered, mentioned that a few people have this issue and it had been said as training issue for call handlers. it’s now with amendment team so fingers crossed. Definitely worth keeping pushing with it.
Kerri says
Just to update that Equifax came back within a day to say they have removed all loans with Elevate/Sunny from my credit report. Still waiting to hear back from Experian and Transunion. Thank you Andrew for your advice and your perseverance seems to have paid off for others in same boat.
Andrew says
That’s good news Kerri.
I’ve still not heard anything from TransUnion. Numerous emails have been ignored so far!
Lisa says
Hi Andrew – I have followed your guidance (very helpful thank you), however the resolution expert said that they would need 5 working days to look into this. I said that I was confused as to why it seems others have had an immediate resolution and am now really worried that they won’t remove my somewhat 38 loans.
I have provided the emails from Elevate stating that they are passing the rights on to the CRAs – any advice on anything else I should send them or say to them over the phone to make sure these loans get removed?
Thanks a lot
Martin says
Hi Andrew,
I sent my first emails to Experian, Equifax and Transunion this week to ask that all Sunny loans be removed from my credit file. Stated that one is being automatically removed soon or it already has so can the rest be removed as well. Got the standard response from Experian “I am pleased to inform you that settled accounts are kept on your Experian Credit Report for six years from the date of settlement.” I am not pleased I just want them removed. Can you give any advice please?
Thank you
Sara (Debt Camel) says
Use the term “removed or supressed” – if a debt is supressed lenders can’t see it. It may be easier for a CRA to agree to this then if the lender pops back in contact (which they won’t…) the CRA can just say, oh we temporarily supressed it as you weren’t responding to us.
Andrew says
Hi Martin,
Write back with an explanation something like:
“I understand this is the normal practice with regards to settled loans but this is not the case in this instance. Elevate are in administration and therefore I would like these loans removed from my credit file as per their instructions on their website. I have had a case upheld for unaffordability on these loans and they should be removed. Please can this case be escalated to a manager.”
See what you get back from there.
Martin says
Hi Andrew and Sara thank you for the advice. Andrew did you have any luck with Transunion? Equifax have agreed to remove all loans which is good. I have emailed Experian back with what you suggested so fingers crossed there. I haven’t heard anything from Transunion yet and it’s been a few weeks now.
Sara says
Hi, I’m glad you got a result with Equifax! I’ve just had a response from them saying that they have changed them to be ‘settled defaults’ but that it is Equifax’s belief that future lenders should be aware of the whole of my credit history so they won’t delete.
As far as I was aware, it’s not their judgement call, or is it? I’m quite annoyed by this because Elevate are the only negative things left on my account and they won’t drop off naturally for another 4 years if CRAs don’t remove them. Elevate have been quite clear about all negative markers – a settled default is still a negative marker isn’t it?
Should I respond to Equifax now and say I’m not happy with the outcome or should I wait and see what Experian and Transunion do first?
Mark says
Hi Sarah,
The only info I have is about what I have read here so I’m hoping you can point me in the right direction.
I had accounts with Sunny which I believe to be unaffordable lending. My last account defaulted and was passed to a DCA who are now managing the account.
Will the administrators remove all old Sunny accounts from those who had their accounts passed to DCA’s before they went into administration? Also, if the loans were unaffordable where does that leave me with the DCA who now own the account?
Thanks
Sara (Debt Camel) says
My last account defaulted and was passed to a DCA who are now managing the account.
who is the debt collector?
Have you submitted a claim to Sunny? The last day to do this tomorrow.
Mark says
Hi Sara,
The DCA is SLL Capital and I’ve put a claim in
Thanks
Mark
HJL says
I just contacted Sunny and asked the call handler to confirm if my loans were deemed as loans that should be removed from my credit file. The 2 loans were taken out for short periods in 2017 and repaid in full. The call handler said all data was passed to CRAs in October so it’s on them to remove from my file. I told him that I was specifically interested in whether or not the loans would be removed from my credit file as there is no way to know what decision Sunny made in relation to removing my loans. I asked the call handled to send me an email that states my loans should be removed but he just sent a generic email saying all data passed to CRA and that it’s CRA responsibility to remove loans. I don’t know what to do now because the loans are still showing on credit file and I don’t know whether they’ve been included in the list to CRAs as loans that should be removed. Any advice would be great thx.
AD says
Hi there,
Thank you for all the information – it’s very useful. I am going to attempt to call equifax tomorrow to try and get my unaffordable loans removed from my CR. Do I need to contact all CRAs to get them removed separately? Or will one transfer to the others?
Thanks
Martin says
Hi Sara,
Can you advise please. Are Sunny (Elevate International) removing all their loan history from lenders credit files or just the loans that they have determined were mis-sold? I had 5 loans with them in the past and all are still evident in Experian, Credit Karma and Clear Score. All are showing as paid and closed now.
Thanks
Sara (Debt Camel) says
So far as I know, just the loans they decided had bee mis-sold, see the article above.
HJL says
This is what is also confusing for me Martin. When I phoned today the call handler said that it was a blanket removal of all loans but I not convinced. I asked a couple of times about this to to be sure. Also asked for an email from Sunny to confirm there would be a blanket removal of all loans (not a blanket removal of my loans but overall removal for all customers) but then got the generic email about all data already being passed onto CRAs and not in Sunnys control. The blanket removal of loans for all customers contradicts the Sunny website note so think the call handler was giving wrong information. This is very confusing and hard to know who to get help from.
Martin says
I’m not convinced either, it should be in my opinion ALL loans should now be removed or removed in the very near future. The reasons being there are undoubtedly 100s if not 1000s of mis-sold loans that will not be removed going forward as who do you argue your case with if you spot one on your credit file down the line? you probably can only contact credit reference agencies who are not interested, they don’t care. It sums up the whole industry of payday loans and credit reporting to a certain extent as a big mess.
D says
FAO Andrew, for Transunion I just forwarded the generic Sunny emails advising unnfoardable loans will be removed from credit reports and screenshot of my experian file. TU took approx 30 days and they removed 20 loans and suppressed the other 5.
@Sara I assume suppressed means hidden on report? Do I need to push further.
Sara (Debt Camel) says
I think “suppressed” means lenders can’t see them if they credit check you when you apply for credit.
Andrew says
Well I’ve still not heard anything but they are clearly snowed under due to Covid. I will give it another week.
Sara, I have several loans from Wonga from 2017 and before showing on my TU report only. Do you think there’s any possibility of disputing them now? I never made an affordability claim but given the precedence now set by Elevate for these multiple loan cases, is it worth a try?
I’m pretty sure they used to be on my Experian report too and they’ve wiped them despite me not putting in a claim. If I show this evidence could this help?
Sara (Debt Camel) says
I have several loans from Wonga from 2017 and before showing on my TU report only. Do you think there’s any possibility of disputing them now?
That is an interesting question. If you dispute the loans, there is no-one for TU to ask. so they may be forced to set the loans to be “suppressed”. Or they could ask you for evidence that the loans should be deleted? I don’t know what will happen.
Andrew says
I think I will wait for the Elevate outcome before giving this a go.
Martin says
Hi D,
Thanks for the update were you able to get the 25 loans removed from Experian and Equifax? I had 2 Sunny loans within my closed accounts. I notice 1 has now gone but the other remains (the first I took out) I want this removed as well. Can you tell me please if you got these loans removed from Experian and Equifax how did you do it?
Amber says
Ive submitted a dispute via transunion page on sunny loans .. they have supressed because sunny havent replied ! This took less than a week! Ive since gone via check my file to do the same woth equifax! Hoping its as speedy and simple.
Because they have gone bust is it likely then they wont reply and thus it will remain hidden? How long do they allow /wait for a reply .. for example what if they reply months later can it come on again is this likely?
Joanne McGlade says
Any idea when claims payments will be declared or made?
Sara (Debt Camel) says
No but the payments are likely to be less than 1p in the £
LJ says
Hi all. Just a quick note to say that after reading this page and comments, I raised a dispute with Equifax and TransUnion – who still had ELEVATE on my credit reports.
Equifax have responded this morning to say that they have removed the account. Very easy to get sorted – literally just opened a case, waited, and they have sorted it – without the need for me to go back and to.
Still waiting to hear back from TransUnion though…!
A says
Hi there,
When did you raise the dispute with Equifax? I raised mine on 03/02/21 and I have been back and forth with them – dispute still unresolved. I have had to phone over 5 times, speak to a resolution specialist who told me to give them 5 days to try to make some progress. It’s now been 8 days and I am going to have to phone again.
Feeling completely helpless and worse as it seems to vary between people and disputes?
Dave R says
Experian have confirmed that they have deleted all 6 loans from my credit file and this should show within 7 days. Waiting to hear back from Transunion and Equifax still. Do get these in as data disputes people and attach the generic Sunny email (stating that they’ve handed over control of updating the data to the CRAs).
Martin says
Hi Dave,
Can you tell me how you got Experian to delete the loans. I have been in contact with them twice now and got the standard response “I am pleased to inform you that settled accounts are kept on your Experian Credit Report for six years from the date of settlement.” I am not pleased I just want them removed. Can you give any advice please?
Alex says
I also had my records from Sunny removed from Equifax, have requested it from Transeunion too.
On another note regarding Uncle Buck, who are also in adminstration. I have been awarded £800 for a redress, but will not likely be paid out. Which is fine.
However, when I asked if they could cover it towards my current role which has an oustanding balance of £230, they replied very vaguely that they could not. How is that fair? Surely if they have potential money they could pay me they can also offset it against my current loan?
Sabrina says
Hi all, sent an email to the administrators to try and find some more information out and I have just had this reply from them.
“ Good morning,
Thank you for your query.
We are in the process of adjudicating all the claims received before the claims submission deadline in order to confirm the final dividend amount. If there are any aspects of your claim we wish to clarify we will contact you in the coming weeks. Otherwise if your claim is being admitted, we will be in touch when we are in a position to pay the dividend; this is expected to be between April and June 2021, however we will endeavour to pay any dividend due as soon as possible.
Kind regards,
The Sunny Team”
Chris says
How did people go about requesting the removal from Equifax? I just keep getting generic replies saying that the loans are showing as settled despite stating that they were deemed unaffordable by sunny.
D says
I’ve put a complaint in to equifax directly. Fingers crossed
Lewis says
So I had 4 outsanding loans with Sunny, and received a redress claim which was knocked off the balance. The balance was then sold to Perch Capital as we all know. Should Perch capital remove the defaults from the loans now as they were deemed unaffordable as they now have ownership of the accounts?
Sara (Debt Camel) says
Yes they should.
Lewis says
Hi Sarah,
The reply I just got from ACI is
“Thank you for your email.
Please be advised that the defaults issued by Sunny will not be removed from your credit file as these a-line with the date in which the contact was breached. These will remain active for 6 years as per the original default date.”
Is there anything else I can do about it?
Sara (Debt Camel) says
This was the balance of a loan which the Sunny administrators decided was unaffordable? So they have removed the Sunny default?
Lewis says
Well they reduced the balance and sold the rest to ACI and the credit records for the unaffordable loans were transferred to them now with the default record still showing. I presumed that the removing of adverse remarks would be included on balances remaining that have been sold on?
Sara (Debt Camel) says
then send ACI a formal complaint. Email than at contact@assetcollections.uk with COMPLAINT as the subject. Say the original debt has been determined by the administrators to be unaffordable so all negative marks should be removed from the credit records relating to it.
Ask them to remove the default or you will be sending your complaint to the Finacial ombudsman.
Big P says
This forum has been a great help to me over the last few months, so thanks everyone!
Have only had 1 removed automatically from equifax/clearscore and they all remain on Transunion currently. Does anyone have any “best information” and processes collated as to what to provide when disputing elevate accounts for best success…for eguifax, transunion and experian?
Many thanks
Martin says
I had success with Equifax by raising a dispute with them. Done the same with Transunion and am eagerly awaiting their response. Getting nowhere with Experian keep getting the standard “settled loans stay on credit reports for 6 years”. Tried a few times with them. The whole issue is a mess the integrity of credit agencies and reporting is not fit for purpose. All Sunny loans should be deleted on mass to be fair to everyone instead people are having to go to the trouble of contacting these agencies to get them removed. It’s the luck of the draw then if you get a helpful agent they will delete them if not they won’t.
Sara (Debt Camel) says
How many loans did Elevate decide were unaffordable?
Phil says
I’ve had success with both Experian and Equifax this week.
I raised disputes with both and pointed them towards the Sunny website where they mentioned CRA’s were to deal with any issues/disputes themselves.
Experian have deleted all but one of my accounts, which is 18 so far (I have raised another dispute for the last one to be remove). Experian didn’t actually say whether they could get in contact with Elevate or not but seem to have been on the ball and the whole process with them has taken around 2 weeks.
With Equifax, I raised disputes with ClearScore as I already had their app. I again pointed them towards the Sunny website. Equifax opened a new case for every account I was disputing and they have today come back and told me as Elevate have been in administration since June 200, they have taken to decision to delete the account from my records.
This has taken about 3 weeks to get to Equifax to come to a decision.
I am still waiting for my case to progress with Transunion, they do seem to be a bit slower.
My advice would be to get the cases/disputes opened and case every few days, I found keeping pressure on them helped moved my cases along a lot faster!
Keep faith and hopefully you can get these sorted!
Jim says
Thank you for this !
Big P says
Thanks for this! Do you have the email link (or text except) for where they mentioned CRA’s were to deal with any issues/disputes themselves? website seems to be down now.. I can’t connect to the site currently.
Also, what would be really helpful (if possible!) is the outline/wording used in your emails to all of the above? Just to ensure I’ve the best possible outcome for success!
Many thanks!
Sara (Debt Camel) says
See the KPMG site which says:
“We have transferred the control of maintaining any remaining records to the credit rating agencies, as we will not be maintaining these records going forward. Any further queries regarding entries on customers’ credit files in relation to ECIL loans should be raised with the relevant agency directly.”
Big P says
Many thanks Sara,
This is the draft statement I plan to send to equifax, transunion and experian via their respective dispute platforms… have I all bases covered or is there anything else of note to add?
————————————————–
I have had 3 defaulted accounts under Elevate/Sunny…these loans were deemed unaffordable yet only 1 has been removed to date.
I have tried unsuccessfully to contact Elevate/Sunny, their website has since been decommissioned, they are in administration and therefore I would like these loans removed from my credit file as per their instructions on their website, as follows.
“We have transferred the control of maintaining any remaining records to the credit rating agencies, as we will not be maintaining these records going forward. Any further queries regarding entries on customers’ credit files in relation to ECIL loans should be raised with the relevant agency directly.”
Kind regards
Sara (Debt Camel) says
looks fine to me.
You could add that if the loans cannot be deleted, then you would like them supressed.
HJl says
I was successful with Experian and Equifax but TransUnion said this:
TransUnion is unable to amend an entry without the permission of the organisation responsible for supplying it and as a result, we cannot assist you further with this dispute. We would advise you to contact Elevate Credit International Limited directly in order to discuss this matter.
The disputed entry will remain suppressed from your credit report; however, please bear in mind that Elevate Credit International Limited can remove the suppression at any time.
What is the difference between deleted and suppressed? Iideally want this deleted as it causing anxiety for future mortgage applications. Frustrating that the other CRAs can delete but TransUnion won’t. Also I said when I emailed them that I would go to financial ombudsman if nothing within 8 weeks but can I go to financial ombudsman if they suppress and don’t delete?
Sara (Debt Camel) says
I think this is a success for you.
Elevate are not going to remove the supression as they have said they will no longer be talking to the CRAs. So there seems to be no practical difference between deletion and supression.
I don’t see any point in going to the ombudsman where you may well lose the case as TransUnion have done all they have to do in this situation.
Big P says
Hi, HJl.. how long was the process to get these resolved through Equifax and Transunion? I have put in disputes earlier this week with both, I’m keen to know how long I can expect this to take for both. Were there any other issues along the way or straightforward enough? Thanks
Martin says
Hi,
Can anyone assist I have emailed Experian a number of times now to get their loans I took out with them removed from Closed Accounts keep getting the standard “I am pleased to inform you that settled accounts are kept on your Experian Credit Report for six years from the date of settlement.”
As advised above I stated in my email to them –
I have tried unsuccessfully to contact Elevate/Sunny, their website has since been decommissioned, they are in administration and therefore I would like these loans removed from my credit file as per their instructions on their website, as follows.
“We have transferred the control of maintaining any remaining records to the credit rating agencies, as we will not be maintaining these records going forward. Any further queries regarding entries on customers’ credit files in relation to ECIL loans should be raised with the relevant agency directly.”
Still to no avail. Should I call them up? what is the best step forward? FOS? the whole integrity of these call reporting agencies is suspect to say the least as thankfully they are removing these loans for some people and not for others.
Equifax were no problem at all and the loans are being removed this month, I am still awaiting a response from Transunion.
Sara (Debt Camel) says
I suggest you send them a formal complaint. As they do seem to be reading your emails, you could phone them up: https://www.experian.co.uk/consumer/product-factsheets/complaint-handling-procedure.pdf
Martin says
Hi Sara,
Thank you for your advice, I tried calling them but couldn’t get through to an agent so sent an email to complaints. How did anyone else get their loans with Sunny removed from Experian?? I have sent multiple emails but no joy so far.
Thank you
Aidan says
I am currently trying to get elevate off all of the CRAs, equifax were brilliant and removed them the same day, Experian I am going back and forth with them, they sent the standard email and then told me they had contacted sunny which they couldn’t have. Now I’ve asked it to be escalated to a manager and seems like there looking into it more. Transunion had no reply from. I think with Experian you just need to keep getting at them, will update if I get an update in five days like they have promised.
Dave R says
Experian and Transunion have so far removed Elevate with little fuss from me – just raised the disputed and Experian deleted completely and Transunion have suppressed (which will do)
Equifax taking their time and being awful. Phoned up yesterday and had the initial call handler object and say that the “records would stay on for 6 years” bla bla. Be sure to not back down and be fine (but not rude) and insist that you’re put through to a resolutions manager. Said resolutions manager heard me out and understood and said that this would be solved in 24-48 hours. Not holding my breath but fingers crossed…
Dave R says
Can’t quite believe it but Equifax have also agreed to entirely delete the records from my credit file. By far the hardest of the three CRAs to deal with but worth it now. Another positive result! Good luck all…
Big P says
Great stuff! how long did it take Transunion to resolve? Just had Equifax delete the Elevate accounts from my file..process only took a week and was straightforward enough..was expecting some diffuculty perhaps but delighted with the outcome!
For anyone still needing to open disputes here is the text I’ve used successfully so far..
————————————————–
I have had X defaulted accounts under Elevate/Sunny…these loans were deemed unaffordable yet X has been removed to date.
I have tried unsuccessfully to contact Elevate/Sunny, their website has since been decommissioned, they are in administration and therefore I would like these loans removed from my credit file as per their instructions on their website, as follows.
“We have transferred the control of maintaining any remaining records to the credit rating agencies, as we will not be maintaining these records going forward. Any further queries regarding entries on customers’ credit files in relation to ECIL loans should be raised with the relevant agency directly.”
————————
Good luck all!
Dave R says
Nice work Big P. Transunion took 28 days. After they heard nothing back, they suppressed the accounts my credit file. As good as deletion as Sunny aren’t going to pop back up and dispute that. Will eventually go back to them and ask for full deletion but for now this will do. Have got other battles to fight!
Emma Marshall says
Hi, I have not heard back from the sunny administrators and whether they are upholding my affordability claim at the moment. They actually sold my debt onto Lantern back in 2019 and I never got in contact with them and haven’t heard from lantern since.
Also how cheeky of sunny but they classed my loan as paid off even though they had sold on my debt and invited me to take out another loan??!!!
Anyways my question is if it is deemed unaffordable will Lantern just close the loans? It is showing as in default on my credit report and I really wish I could get it off!
Olivia l says
Im in a similar situation.
I had over 30 roll-over sunny loans. I have Redress claim of £3,100 but the last 3 loans I had defaulted and were sold to Lantern in 2018/19. These 4 are still on credit file and lantern won’t remove.
Did you get in touch with Lantern? Any joy? Ha
Thanks
Sara (Debt Camel) says
I will be writing an article about this situation in a week or so.
Emma Marshall says
I didn’t get in touch with Lantern as I don’t want to acknowledge the debt to them tbh. I will look out for the article Sara :)
Vicky says
I am so happy, equifax removed all sunny loans from my file after asking. Took a week. Experian after raising a formal complaint is looking into it and hopefully will suppress/remove as well. I opened a dispute with Transunion but haven’t heard back yet. But this is life changing for me! It means I will be able to get mortgage and at competitive rate! Thank you Sara and everyone for sharing your success stories!
Jordan says
Hi i put in a claims form back in November for sunny and i have not heard anything back about it. I had a claims reference number sent by email and it also says they will be in touch from the 31st of January but i haven’t heard anything back at all would u be able to help on this. Thank you
Sara (Debt Camel) says
are you hoping to get the loans removed from your credit record? or get a refund? The administrators have warned you are likely to be paid less than 1% of you proper refund value.
Jordan says
I was expecting a refund. Thanks
owed money says
Same, i know the refund will be little – but where is the communication and refund? 2 months now. Probably administrators dragging it out so they can bill more and take more of it
Dee says
Apologies for the naive question.
I was under the impression that if you requested loans to be removed from one CRA that does them all. Am I wrong? Do I need to be contacting all three agencies.
I did have my Wonga loans removed with Equifax and thought that was the end of the matter. Do I need to contact Experian and others?
Also, I’ve heard nothing about removal of sunny loans or any payment? I presume a redress Payment is not going to happen?
Dee
Sara (Debt Camel) says
You need to ask them all. They don’t talk to each other and may not all have the same information.
Nathan says
Hi there, long time reader, first time question asker. In the summer of 2018 I ‘defaulted’ on a Sunny loan however i had a dispute with them until the administrators were called in, I’m sure this may be answered on a separate thread but will these disputes still be valid or will these defaults drop off my accounts regardless?? Or is this a case where i will have to send a few emails off myself??
Kindest regards
Sara (Debt Camel) says
what sort of dispute?
Nathan says
My dispute was regarding paying a loan. I paid the loan off in full however for some reason they chose to issue a default. When I emailed them regarding this error, they reimbursed the original cost of the loan plus interest, they also mentioned that they would remove all record of the loan being issued however it still appears on my Transunion credit report. Ive been disputing since July 2020 with no reply.
Sara (Debt Camel) says
The administrators are no longer replying to the CRAs. They say:
“We have transferred the control of maintaining any remaining records to the credit rating agencies, as we will not be maintaining these records going forward. Any further queries regarding entries on customers’ credit files in relation to ECIL loans should be raised with the relevant agency directly.”
That is good for you as you can now ask the CRAs to “suppress” the credit record. Read https://debtcamel.co.uk/correct-credit-records-lender-administration/ which explains how to do this.
Hugz15 says
Just had an update on my Equifax case te Elevate loans removal, to say they have made decision to ‘delete the account’ from their database. I take it this means delete Elevate from their database – could be good news for all!!
Sara (Debt Camel) says
perhaps they are fed up with all the requests! Let’s hope this gets sorted for everyone.
Hugz15 says
I hope so I bet they are getting hounded, maybe they will just disappear off everyone’s reports – they said that my Clearscore will be updated by the next report so fingers crossed. Experian are taking their time (had to strongly query a standard email reply about leaving things on for 6 years) and transition seem slow, no response yet.
John says
Hi Sara and others above.
I just wanted to say a massive thanks, I have called Equifax, Transunion and Experian today and it is looking like I will all of my sunny loans off my file in the next 7 to 14 days.
Equifax were particularly helpful, they said they have been snowed under with Elevate requests recently and as a a result are just supressing these within 3 days, Experian said it will take 5 days to go through their disputes team and transunion said I had to dispute these via their website on my statutory report and we update the file within 28 days, however the lady on the phone talked me through how / what to do and said it’s usually much quicker as they will get an automatically KPMG reply saying they wont be responding.
Good news for everyone.
Kay says
Hi John,
I’ve had luck in Experian and TransUnion supressing all settled accounts of mine, however Equifax are being difficult.
I went through the usual back-and-forth of raising a case a few weeks ago, which was declined. I have just got off the phone with them after requesting suppression, only to be told that they will re-open my original case (not holding out much hope on this).
I’ve noted that yourself and a few others have said Equifax will actually be supressing/deleting everything relating to Elevate, did they say that also applies to settled accounts?
John says
Hi Kay,
This is going to sound really bad but I think it comes down to luck of the draw and how helpful the person who picks up the phone is :-( I tried to use Check my file to dispute it at first and they came back with “We’ve reviewed your customer’s query about elevate accounts. I’m afraid that we cannot delete historical data. Although elevate are no longer trading, it is our view that this data should remain on customers credit report as it is historical which should be taken into consideration during future credit applications.’
I called and mentioned that I did apply to have them removed by KPMG during the auditing process when I was told I was entitled to about 14p, this seemed to help with CRAs and hearing from the person is better than a third party I guess.
I can see see my cases are open with all the lenders so there is time for them to change their mind! However like I said, I think it seems to be luck of the draw on who picks up with phone.
Good luck and keep trying :-)
John
Sara (Debt Camel) says
I think it’s definitely better to go to the the CRAs yourself and not through any credit report that suggests it can help.
Kay says
Hey John,
That’s what I thought, fingers crossed for round 3! I find the inconsistencies in how CRAs handle this to be absolutely bizarre.
Good luck with yours too!
Sara (Debt Camel) says
I don’t think people realise how unusual it is for CRAs to be asked to suppress records. This is not standard practice. You will find little or no information about it anywhere.
Vicky says
I am so grateful to this website and Sara! Equifax and Experian deleted all Elevate records and Transunion suppressed those records. It means I can apply for a mortgage and hope to get a good deal! This was the only pay day loan lender on my file. And all other debts are paid off now. This is life changing. Thank you thank you thank you!
Richard says
Hi Sara
I have had a claim from Elevate partially accepted, I have today mistakenly paid a partial settlement to SLL for a Sunny Loan which I thought I was paying towards another debt (Santander). This Sunny Loan has either been removed from my file by creditors or as its older than 6 years since the default date, either way it is no longer on my credit file.
Is there anything I can do to reclaim the money from the DCA to use on the correct loan (Santander) if the administrators accepted my claim that I should never have been given the loan in the first place? Or have I made a stupid and costly mistake?
Many Thanks
Richard
Sara (Debt Camel) says
If you owed money to SLL I would be surprised if they agree to repay you the money sent in error.
Joanne McGlade says
What’s happening with the refunds? Have they announced the percentage yet? Haven’t heard anything in months
Sara (Debt Camel) says
It is expected to be less than 1%.
Sara (Debt Camel) says
NEW ARTICLE
If your Sunny loan was sold to SLL, you will not be getting any “set off” in the administration. You can complain to SLL and ask for set off, see https://debtcamel.co.uk/no-set-off-scheme-administration-debt-sold/ for details.
Sue says
Has anyone heard any further from Sunny about when we may receive redress payments? I was under the impression that payment is due between April and June.
Sabrina says
When I emailed them in April for an update, I got this as a reply.
“ Dear Miss *****,
Thank you for your query.
The dividend is expected to be declared and paid around May – June 2021.
Kind regards,
The Sunny team”
Sue says
Thank you Sabrina
Good to know that we are heading towards a payment, even if it is a very small percentage.
Ron says
Hello
Has Anyone heard anything from the Sunny Administrators yet about their claim. I put my claim back in December 2020. I have not heard anything since the submission deadline of 31st January 2021. Has anyone received an actual email stating their claim is either rejected, accepted or partially accepted?
I do know anticipated payout is coming up.
Sue says
On the Q&A on Sunny Website it states that payment should be made mid-May. I have emailed to ask when we should be receiving any payments.
If I receive a response I will let you and everyone else on this site know the outcome.
Dean says
Hi all, received the below reply from today:
“We are in the process of adjudicating all the claims received before the claims submission deadline in order to confirm the final dividend amount which is likely to be £0.01 or £0.02p in the £.
If there are any aspects of your claim we wish to clarify we will contact you in the coming weeks. Otherwise if your claim is being admitted, we will be in touch when we are in a position to pay the dividend; this is expected to be between May and June 2021, however we will endeavour to pay any dividend due as soon as possible.”
Kind regards
The Sunny Team
D says
There is an update on KPMGs website says 3.2p in the £ with payment out 28th May onwards?
Sara (Debt Camel) says
Some more details – you will get an email saying how much you will receive.
Payment details:
– over 40,000 customers are being paid by electronic transfer
– this is likely to arrive in people’s bank accounts on Thursday 3 June 2021
– the payment reference will be “Elevate Sunny”
– a small number of customers who had not provided up-to-date bank details will be paid by cheque.
Sue says
Thank you both for the latest Sunny Update. What with The Money Shop payout due anytime soon and Sunny hopefully next Thursday, things are looking up. Thanks Sara for all your information you provide us with on Debt Camel.
Dean says
Hi Sara,
Why is it only 40000 are getting paid, is it because they are categorising complaints? I had an email stating I had a claim for £4490 but not sure if I will get payment now..
As per the response got from them last week ( the above email I sent you last week) they are saying they are still adjudicating and there was the caveat of “if the claim is admitted” so not really sure what to make of it all
Sara (Debt Camel) says
Did you submit a claim?
Dean says
Yes I did and they told me my redress amount
Sara (Debt Camel) says
My guess is that few people bothered t make a claim because the administrators said they would get very little and had cleared people’s credit records automatically without a claim.
I’m not sure what there is to adjudicate on. I would hope you will be paid!
Dean says
Hi Sara, the below is a reply I git from them today when I queried whether I was definitely getting paid or not, not really sure if I am any the wiser with this reply:
Thank you for your email.
“Your claim was submitted however the administrators had to assess all claims submitted in order to confirm a final dividend (regardless of if you have already been given a redress amount). A dividend is calculated based on the money that is left from the administration after a company sells its assets and pays off preferential creditors.
These claims are non-preferential and once the final pot is calculated it then calculates an equal percentage for all customers within the non-preferential claim pot and then pays that dividend amount against the claim. You can read more about this on the FAQs on the KPMG website
We have confirmed the final dividend to be 3.21p to the £. We will be in touch via email once we are in a position to pay the dividend; we are expecting to send these emails throughout the week.”
Sue says
I have seen a new update on The Elevate Credit page stating that payments have been sent on 28 May 2021 but f you havent received payment after 7 working days from that date then you need to contact them by email as as customer services will be closed after 30 June 2021. So dont delay chasing up your claim if you haven’t received it by the date they have stated.
Leezy says
May I have a link to the page mentioned, thank you
Sue says
The main Sunny home page. It will take you to a KPMG link & there is a section headed Frequently Asked Questions and Answers. I hope this works for you.
For general info I havent received an email giving payment amount yet. I am guessing this may appear from Tuesday onwards with payment scheduled for Thursday, as Sara has stated previously.
Clare says
Hi – I’ve not had any confirmation of my redress amount. In fact no correspondence since December. Should I have?
Sara (Debt Camel) says
I don’t think these have yet been sent out.
Clare says
Cheers babe
Leezy says
Me neither, I sent them an email, and they said that they are sending them out this week,
“ Thank you for your email.
We have confirmed the final dividend to be £3.21p in the £. If your claim has been admitted, then we will be in touch via email once we are in a position to pay the dividend; we are expecting to send these emails throughout the week.
Kind regards,
Sunny”
I hope this helps
ben says
My affordability complaint was initially rejected by Sunny and they didnt agree with the Adjudicator so my complaint really dragged. The Ombudsman finally issued a decision writing off 16 out of the 29 loans but it outcome was issued a couple of days before Sunny went under.
As it stands I dont know how much I was meant to get or what that will be at 3.2p in the £. I guess Thursday could be a nice surprise if they do pay out on time but think its unlikely
Ben
Ryan says
So i’ve had my email, it tells me:
“Your dividend is calculated by multiplying the value of the dividend being made to all creditors, being 3.21 pence in the pound (rounded), by the value of your claim, being £338.87.
In your case, this results in a dividend of £10550.17.
We will make payment of your dividend amount of £10550.17 by direct transfer to the bank account details you submitted in your claim form (as subsequently updated by you, if applicable). The payment reference that you will see on your bank statement is “Elevate”.”
Guess i’m getting £338.87 then on thursday
Sara (Debt Camel) says
that sounds like a very poorly worded email :(
But yes, my guess is you will be getting £338 back
Bev says
Idiots at Sunny have struck again! Got the same email stating my claim was £198 which resulted in a dividend amount of £6169 being paid into my bank account. Of course I was dancing round the kitchen until I received the second email stating the figures the other way round. I rang them to clear up confusion and was told the first email was an error and “obviously we can’t pay the higher amount as we’re in administration”. I knew I shouldn’t have gotten my hopes up but for them to tease us like this is just cruel
Neens says
Got an email at 5am :
Ed Boyle and David Pike were appointed as Joint Administrators of Elevate Credit International Limited (‘ECIL’) on 29 June 2020.
– A first and final dividend of 3.21 pence in the pound (rounded) is to now be paid to unsecured creditors.
– This means you are being paid a dividend of £xxx
– We have processed your dividend payment, and you should receive the funds into your bank account within 5 business days of this email.
Claire says
I’ve received two emails this morning one stating a very significant dividend and the other a far more modest one.
I’m assuming the email with the larger one was an error and il only see the small amount go into my bank.
Anyone else had this?
Sara (Debt Camel) says
see Ryan’s comment above.
Shelly says
Yes me too! Excited for a couple of hours!!
Vicky says
I too had the two emails. I think you are right and on the first one the figures were inputted the wrong way round.
I’m glad I didn’t read the first email first!!
Happy with what I have got, thanks to debt camel for keeping us all updated.
Sarah says
I got exactly the same. Can we argue the first one is the one we will accept?
Sara (Debt Camel) says
No I am afraid it was an error which they have now corrected.
D says
Read the first one, eyes popped out my head. They cannot even get the final responses correct. Glad I’ve got something back!
Gloria says
Has everyone received an email. I’ve not received one yet. Should I be concerned?
Mark says
I haven’t received one yet either, just waiting and I’m sure it will turn up at some point today
Sabrina says
I haven’t received one yet either.
Mary says
I haven’t got one yet 😕
Jane Y says
I haven’t got one yet either
Vicky says
Check your junk email that is where mine was.
Laura says
I haven’t got it either. In either my mailbox or junk
Craig says
I haven’t had an email yet either and starting to get concerned. Haven’t had anything since December time when I updated bank details
Jeremy says
I received the two emails as above this morning with no apology or explanation for the mistake in the first one. I note that the estimate of fees for the liquidators is £4.7 million, nearly 70% of the realised assets. Not sure how this squares with the suggestion that the liquidators are not at fault for the miserly payout.
Neil Sillery says
Very true Jeremy. Shameless unscrupulous mercenaries.
Jeremy says
I actually emailed the Joint Administrators direct and got a reply within an hour or so. The actual total realised assets were £17.4 million as there was a substantial amount paid to secured creditors. Nevertheless the total fees amount to about 27% and I have made a formal complaint about these and their incompetence in sending out incorrect emails which they blame on an IT contractor in India. Where the contractor is based has no bearing on their abilities surely.
Neil Sillery says
Yes… easy to exploit the financially powerless.
Sarah says
I didn’t see how they worked out dividend amount? Did anyone get an email from them prior to how much they paid? I had one from another payday loan company which was the same as Elevate?
Dean says
Received my email today confirming dividend payment figure and says payment processed and should be received within 5 days. Very happy as I wasn’t expecting anything from Elevate after their original communications stated there may be no payment at all or payment of less than a 1p in the £!. I had also previously put in a complaint to them before the administration and got redress on some of the loans but they had clearly got that wrong and I should clearly have had a lot more back from them then.
Hope everyone else gets their emails confirmation and their payments.
Don’t know I f it feels like we got to payment with them much quicker than with the money shop which is still dragging on for a lot of people including myself!
Sara (Debt Camel) says
the Money Shop situation completely different – far more complex, with all the shops they had and the leases to be got out of. Also they were receiving a string of monthly payments from their previous American parent, without waiting until all those payments were made there would have been no money for refunds at all.
Dean says
Oh I see, thank you for the explanation Sara. At least we know that situation is also coming to an end soon hopefully as everyone should receive their payments by end of June according to the administration communications.
Thank you for all you do Sara, your guidance and help for thousands like me that got sucked into the payday loan spiral has been priceless.
Kind regards