Non-Standard Finance group (NSF) proposed a Scheme of Arrangement in March 2023. This Scheme was approved in June 23.
NSF had three brands: Everyday Loans (lending from high street shops) and George Banco and Trust Two (two guarantor lenders). All customers with loans that started before 31 March 2021 had to make a claim to the Scheme before 31 December 2023.
That date has now passed and no further claims can be made to the Scheme.
If you had an Everyday Loan that started after 31 March 2021, you can still make a complaint about this, but not through the Scheme – so if it is upheld you will get a larger payout.
At the end of July 2024, NSF announced that people with an upheld claim will be paid 25.73p in the £. Payments started in August 2024.
Contents
What is “a Scheme of Arrangement”?
What is the purpose of a Scheme?
A Scheme is a formal legal arrangement that allows a firm to change the rights of some or all of its creditors.
Customers who have been given an unaffordable loan (see below for a definition of this) have the right to make a complaint and take it to the Ombudsman if the lender rejects it. People will normally get a refund of interest if they win their case.
A Scheme changes these rights:
- any affordability complaints have to be made within a 6 month window – no one can make a claim after that even if they did not know about the Scheme;
- the decision to uphold or reject the complaint is then made within the Scheme and there is no right of appeal to the Financial Ombudsman;
- people owed a refund in cash will only be paid a percentage of it as there is a limited amount of money that all refunds have to be paid from.
So the lender gains as they will pay less to settle these complaints and at the end of the Scheme there can’t be any more complaints.
Other similar Schemes
NSF is now the 5th bad credit lender to seek the protection of a Scheme that will limit the refunds it has to pay to its customers for unaffordable lending:
- schemes by ICL (payday loans eg the Money Shop) and Provident (doorstep lending) have completed. Each paid out about 5% to customers who had their claims upheld
- an Amigo (guarantor loans) Scheme is underway but Amigo failed to raised the necesary capital to continue in business. so it will be liquidated when the Scheme ends.
- Morses Club had a Scheme approved but it then went into administration and their scheme failed.
What is unaffordable lending?
A lender has to check that a loan is affordable for customers before giving the loan.
For Everyday Loans, this is a check on the affordability for the borrower (or borrowers where the loan is a joint loan);
With guarantor loans from George Banco and Trust Two, the loan has to be affordable for both the borrower and the guarantor. A guarantor has to be able to make the repayments out of spare income – simply owning a house does not mean that a loan is affordable.
The Financial Ombudsman (FOS) has set out what it looks at in an affordability complaint.
A simple summary is that when the loan was given it has to have been likely that you could repay it on time, without having to borrow more or get behind with bills. So if all the loan payments were made on time, the loan may still have been unaffordable if repaying it meant that your credit card balance or overdraft increased.
Recent Everyday Loans are NOT included in the Scheme
The Scheme covers customers who borrowed or guaranteed a loan from Everyday Loans, George Banco or Trust Two before 31 March 2021.
It does NOT cover Everyday Loans made after March 2021. If you have one of these later loans this Scheme is not relevant.
Instead you can make an affordability complaint in the usual way. See Affordability complaints about large loans for a template to use,
If your complaint is rejected, send it to the Financial Ombudsman (FOS) straight away, as that article explains. FOS will be able to look at these complaints as they are about loans that are not included in the Scheme.
The Scheme timetable
- 28 April 2023 – Court Convening hearing – approved the voting arrangements
- May & early June 2023 – voting on the Scheme.
- 22 June 2023 – Court Sanction hearing – approved the Scheme
- July to end December 2023 – customers have 6 months to submit a claim to the Scheme. Claims after this point will not be considered in the Scheme and will not be able to go to FOS.
- by end December 2023 – NSF raises enough money to continue and pays £14m into the Scheme to be distributed. If this is not successful the company is likely to go into administration.
- April 2024 – refunds paid from the Scheme.
Raising the £14m for the Scheme
NSF originally proposed two ways to raise new capital – Plan A and Plan B. Since March it has abandoned Plan A and now proposes:
a transfer of the Group’s business to the secured lenders in exchange for the release of a portion of their secured debt and the provision of a new lending facility. Part of the proceeds from this new lending facility would be used to fund the Scheme Fund and cover the costs of the Scheme.
This has not changed the amount of money that is likely to be available to distribute in the proposed Scheme.
Make a claim to the Scheme
It is now too late to make a claim to the Scheme.
What happens after you have made a Claim
NSF will decide whether to uphold your Claim.
I think it’s worth checking your Portal Account every month to see if there is an update there.
If your claim is rejected you can appeal this, but there will be a time limit. So don’t forget to keep looking for this.
What refund may you get?
If an affordability complaint is upheld in the Scheme, the compensation (called “redress”) is calculated:
- for upheld loans that have been repaid, the redress is the interest paid;
- for outstanding upheld loans, interest is removed so the borrower only has to repay in total the amount they borrowed. This may mean a lower balance is owed or that the loan cleared and a cash refund is due.
Where your balance is being reduced or cleared, this will be paid “in full”.
But where a cash refund is calculated, you will not receive that amount. The amount you will get will depend on the total cash refunds calculated and the amount of money in the Scheme to be distributed.
NSF says customers may get paid 24-31% of the calculated cash refund
This is a very uncertain estimate. It depends on how many people make a claim to the Scheme.
It also depends on how many of the claims are upheld and how many of the loans in each claim are upheld.
Credit records
NSF is likely to remove loans that it decides are unaffordable from your credit record.
Card & catalogue affordability complaints
Can you get an overdraft refund?
Refunds from large loans
Alex says
Just to give some clarification, I have received a few messages from NSF and kept ahead a lot of the information in reports and can hopefully tie the most up to date details together.
Firstly, as of yesterday NSF are not giving out any new information – neither the payout amounts or time scale, or when we might know. The most recent update (19/01/24) stated two key things for people waiting for payouts. Firstly, they do not expect the payout percentage estimation to change – but caveat ‘expect’, so this isn’t guaranteed until you have official confirmation. Again, NSF are not able to answer this ATM but have stated they will know during March.
Secondly, the report states that due to the logistics of making payments etc, they may not start paying out in April as they have currently stated. Again, if you ask NSF they cannot give much more information on that. However – after some back and forth with them the messages suggest that this is still the plan – they have still said that payments are being made in April and do not know what ‘timeslot I’m allocated too in April’ which suggest they are currently working on a payment schedule, but make of that what you will. I haven’t at any point it might not be April.
Finally, some of the updates suggest people may get varying payout percentages from each other (within the 24-31 range) but again there is no information about this of how/why it will differ.
J says
Thanks for the update. The only thing I will add is that it would be illegal to give varying levels of payout under the scheme to different members in almost every instance so the payout range will have to be finalised and then everyone will receive the same percentage as each other.
Alex says
I’m not sure of the legalities – I was referring to this point on the FAQ
‘customers with eligible compensation claims are estimated to receive a cash return of between 24% and 31% of their claim, although the exact amount of compensation that you may be eligible to receive will depend on your specific circumstances‘
Which suggests that there may be some variation into how much people get – I’m assuming this is to cover paying off outstanding balances etc
Leanne K says
I emailed the other day and was told I would find out in march the percentage they will be paying against my claim and payment will be made in April.
Given we are almost at the end of March and next week there is bank holidays I don’t see this happening
JamieNelson says
i have just been told that payments are now being made in June
Izzy says
How did you find this out? We haven’t found out any new information.
Saleem says
Hi Sara
So my claim has been partially upheld they are saying I have £3900.00 still to be paid back this was an affordable loan and should never have been given to me.
Do you think I should appeal this decision?
Sara (Debt Camel) says
how much did you borrow? How much have to paid to this loan so far?
What is the rest of your financial situation like?
Marc Dale says
On a positive note, if you’re going to receive any form of pay out or write off from this scheme, you can be sure you’re going to get more than a Morses Club customer! That administration is certainly not looking good for creditors. If they’re lucky it’s going to be 0.9p for every £1 (£1000 = £9).
It makes this scheme look like a lottery win! (joking…)
Terry says
Hi – I have two claims agreements for two loans with everyday loans. One was upheld and the other rejected. For the one rejected, I attached some supporting docs and appealed the decision. It was still rejected so I selected the option for it to be referred to the adjudicator (Norton Rose Fulbright). This was early summer 2023 and I’ve not had any update since. Do you know if it’s likely the adjudicator will even make a decision on this or if the time passes, it’s kind of a tough luck situation? Thanks
Sara (Debt Camel) says
You should get a decision on your appeal. Have you asked What is happening to it?
Terry says
I have. Received a reply saying its with the adjudicator and they have no time frame as it’s down to them when they look at my appeal.
Miss Zoe V tunmer says
Just to mention I appealed to the adjuticator back in September and I still havent heard, I have called and emailed them and was told they cannot give me a timeframe or escalate. Hoping as most decisions should be issued by April, according to their progress report it wont be too much longer.
Terry says
Received a very similar response when I did chase them directly myself. Couldn’t give me much info or any timeframes. As you’ve mentioned, hoping it’s not much longer before I get a response either way, with it fast approaching April.
Alex says
Odd question I’m not sure if it’s possible to answer.
I’ve had 2 loans with EDL. The first was fully paid, claimed and upheld with the scheme. 7.5k to be paid in April.
I took another last year and paid for a few months. However once I my first loan was upheld I complained to say my second loan should have been accepted and they agreed and cancelled it. They asked me to pay back the original amount minus anything I paid back, removing all interest etc. I agreed to £50 a month payback what I owed, around 1130.
Will EDL use the repayment from the original loan due in April to pay the outstanding balance on the second loan or are they treated separately?
Sara (Debt Camel) says
Possibly. Normally a lender would, but EDL may be keeping things in the scheme very separate from those outside
Alex says
I’ve had 2 vague responses from EDL – one says I will get a payment into my account in April and looked copied and pasted from a previous response. So, I rang them and asked over the phone and they said they had no idea.
William Coyle says
Thanks for the update
Anni says
Hi, I’ve just realised I missed the window to submit claims and I definitely have a viable claim. Is there any other way to do it or submit a complaint? I have a loan before 2021
Sara (Debt Camel) says
Sorry there isn’t another way.
Terry says
Does anyone know the actual contact details for Norton Rose Fulbright – the adjudicators to appeals? I’ve still not had a response from an appeal made in the June 2023. I tried calling a number I found on Google and, after being transferred twice, was told I would get a callback which never happened. I’d prefer to email them just so I have a thread I can go back to.
Zoe says
I asked NSF today for exactly that and was told NRF arent dealing with complainents direct. NRF are a very large company, I too am trying to find a way, so if you do manage to speak to someone or find an email please let me know. I submitted an appeal 6months ago and have heard nothing. Beyond frustrating especially as payouts are meant to be April, this is looking unlikely now.
Gareth says
Has anyone had any update on where the scheme is currently at? I’ve been told two loans were unaffordable and I will be getting money back. Do we know if April is still realistic? Have we heard anymore about what the percentage paid back will be other than the original stated figures?
Sara (Debt Camel) says
oops – deleted
Andi says
Hi Gareth
Looks like Sara has got a bit muddled as Everyday Lending and Amigo are going through the same process at same time.
Everyday have yet to provide an update.
Their intention (according to other sites) to provide an update is between the 21st and 30th March.
This will be placed on the Portal – unsure if they will email people as well, as I never received one previously.
The hope is still by end of April everyone will be paid out.
Alex says
Hello, where is the information regarding the 21-30 coming from?
Andi says
There are other debt forums that I’m on, where other users have stated Everyday have informed them that there will be a quarterly update within last two weeks
Marc says
The Scheme Supervisor Reports are available on the NSF Scheme website.
The last report was due within 1 month of the 21st Dec 2023 and it was issued on the 19th Jan 2024, so almost the full month.
The next one is due within 1 month of 21st March, so it could arrive before the end of March but the reality is that they’ve got a month to produce it, so be prepared to wait a month.
Personally I wouldn’t put too much weight behind Everyday Lending being linked up and up to speed on the scheme. EDL are still conditionally approving me for loans even though they’ve upheld to claims of mine. I just feel like if they were properly linked up, they wouldn’t be approving me for more loans before they’ve paid me for the loans they shouldn’t have let me have. The only place to get ‘The Facts’ are from NSF and the scheme updates. I feel like anything else being said outside of that is just to get you off the phone because they don’t really know.
But that’s just my opinion, you can all go with whatever you believe.
John C says
I was wondering the same. Only ever seen end of quarter is 21st March, and next supervisor progress report will be within a month of that, and it will include an updated statement of the estimated outcome for Scheme Creditors based on the available information at the time of preparation of the report. Not seen any other dates anywhere.
I had my claim upheld in July last year for nearly £11k, so keen to see what the outcome is, but sounds like there are a number of appeals that haven’t been dealt with yet
Alex says
I spoke to them today and they could only confirm that as things stand payments look to be in April still and the % estimated is not yet changed. The only thing of note what that I was told we would be told ‘shortly’
John C says
Ha ha, shortly could mean anything, its a pretty vague terminology. I long forgot about Everyday Lending, so whatever I might get is a bonus (my loans were in 2008). Hopefully it will pay for a little break
However I do feel for all those that a refund could massively benefit. Its felt like a long process already, first email was 20th March last year. A long time to dangle a carrot. Good luck to everyone, hopefully those appeals come through positively for everyone waiting
Gareth says
I sent a follow up message through the portal today asking about timescales and updates etc and got the following reply “We are still forecast for payments to be made in April. This will be communicated to you in due course via your preferred communication method together with the confirmed percentage, total redress claim amount and payment date.”
Still not clear but seems positive hopefully.
Mags says
Automated it’s exact to email I got
Alex says
Have you had a claim upheld?
Yes, for a lot of people – me included it’s a large some even at the lower end of the estimation. I’ve been through this process many times and some lenders are better than others – but with the volume and the fact it’s moved to a legal scheme does mean it will take longer.
John C says
Yes, 2 loans, both upheld. £5k of interest paid and nearly the same added in 8% simple interest due to the length of time. Total value is nearly £11k. I did all my payday loan claims a few years back, so know how much of a difference a claim like this can make. With Sara’s help and everyone on Debt Camel in similar positions, I was able to slash my debt and get a mortgage with a building society. Credit score from poor to excellent (eventually), so know there is always light at the end of the tunnel. I got the low payback from Wonga and Provident pence in the £, so taking anything from this as a massive bonus. Would be nice to get closer to the 30% point!
Al says
I previous had a button on the website (the NSF portal) that allowed me to appeal but in the past few days this has disappeared. I’ve not been eligible to appeal since my cut off was December – so couldn’t use this button anyway. Anyone else see this change? I assume if so they might be making changes to start the payout process
Marc says
For me it just gives an insight into how organized they are. If you’re appeal window closed in December, then the appeal button should have been removed in December otherwise it gives false hope. Unless they’ve allowed people to appeal beyond their appeal window, which is a good thing I suppose.
But with claims needing to be in by end of Dec ’23 I think it’s safe to say at this point that everyone’s appeal window should probably now be closed (I appreciate there might be appeals still ongoing, but the window to make a 1st appeal should now be closed to all)
Thanks for letting us know though
Finger crossed though, it might mean they are organizing themselves for the pay out.
Marc says
The appeal button has also disappeared for me in the portal, just for info
Darren says
It’s disappeared for me today too
John C says
I suspect all the appeal dates have now passed, so its not needed anymore. My resolution was dated the 14th Sept and I had till the 4th Oct to appeal – 3 weeks. As last date for claims was 31st Dec, I would hope everyone has had at least a resolution, and an opportunity to appeal, even if that hasn’t be completed yet? I did still have the appeal button, only noticed it had gone when I logged in today. It was there last week
Wendy McDougall says
I contacted NSF a few days ago to be informed that payments should be made by April and to check my bank details are correct on the portal. accessed the portal, to find that the system was displaying ‘no claims submitted’. I have assured them that I have been following this process like a hawk and struggle financially, so certainly wasn’t going to let this opportunity pass me by, plus I can recall uploading my bank details months ago when submitting the claim. I am so incensed and have asked for this to be investigated further but they say there’s nothing more they can do. Is anyone else seeing anything different to this when they access the portal?
Leanne says
Do you still have the email you would have received stating that your claim had been logged?
I submitted my claim in September and just searched everyday in my emails and can see the email saying thank you for submitting your claim.
Could maybe forward that email to their customer service team
Wendy mcdougall says
Unfortunately I can’t find it!!
Leanne K says
I have just logged into my portal and it is now just showing my scheme reference number
Hopefully this means that they are preparing the % amount for everyone
Mags says
Mines is showing but can remember if it always was I didn’t notice, last email I got said I will be paid in april
Margaret Cairney says
Mines too although I could have always been there and I didn’t notice
Zoe says
I like hundreds are still awaiting news from the adjudicator. NSF wont update how many claimes are left, until all are looked at they wont pay out. I had one upheld and one is being assessed as I appealed. I believe my scheme number has always been there. I really hope we hear back soon as they are hoping to pay out in April. Fingers crossed.
Leanne says
I hope you hear soon as I emailed the other day and was told that they are still planning to give the payout % in March with payments due to be made in April
zoe says
Thank you, I have emailed three times in the last month and everytime I am told they cant give me any more information, this has made me hopeful. :)
Marc says
The Scheme Supervisors have until 21st April to issue their next quarterly report. So if we don’t start seeing redress payments hit our bank accounts between now and then, we should at the very least receive a report which ‘will hopefully’ give us an idea of when it will be happening.
Zoe says
Thank you for this.
Michael says
Not sure if anyone else has had this, my bank yesterday was credited by £330.00 from Everyday Loans. However, I am still waiting for an outcome for my complaint. Spoke to a representative who told me a letter, not email will be sent to me. He then said if I gave him permission he can read the letter over the phone. The letter stated that my complaint had been upheld, the refund was payments I had made after the scheme and that I will also receive a % of £1300 in April. My last email from them was last week when they apologised for the delay and said they will get back to me with a decision in a few weeks time, however the letter was dated 6th March, not sure what is going on, still waiting for this letter.
Marc says
Was your complaint fully upheld or partially upheld?
The fact that they’ve returned a payment to you means that the decision is made, they’ve agreed with your complaint, they’ve refunded the payment you made after the scheme started, they’ve worked out that they owe you a redress, part of the redress will have been used to to clear the remaining balance of your loan and then you’ll receive a percentage of the £1300 left over as a cash redress into your bank account some time in April (If they stick to their original time scales).
I can’t see a reason why they would send you an email telling you they haven’t decided yet after they’ve refunded a payment to you already. Unless you had another loan that is still under review?
Michael says
I think I may have not been clear in the original message. As of yet of have not received any written confirmation of what my redress amount is or if I was successful for redress. The only time I realised that I had been successful was when I received money in my account. I phone NSF and was told on the phone that I was successful and that the letter, no email, will be sent to me in due course. My issue here is NSF are assuming have accepted their offer without even looking at it, not knowing if they have calculated the redress/refund correctly. Hope this is a bit clearer.
Marc says
Right, I see what you mean. That’s not ideal. I guess the big issue now is that the appeals process has been closed, so if you’re not already in the appeals process then it’s too late, I guess. The next comm’s you should receive would be their final statement telling you what the final pay-out percentage is and what that means for any redress you’re due. Or if they’re still not speaking to you for whatever reason, you might just receive ‘some money’ into your bank account on a random day during the next month.
People will start posting on here as soon as they start hearing anything, so you’ll have a rough idea that you should be hearing about yours at some point soon I would imagine
Marc says
Sara, for a bit fun can you do a Poll?
Who thinks their redress will arrive on or in between……
1st Apr – 10th Apr
11th Apr – 20th Apr
21st Apr – 30th Apr
Or May & beyond..
Sara (Debt Camel) says
No sorry I can’t
Marc says
Not to worry! I can feel it my bones, something is telling me it’s going to be the 1st Apr to 10th Apr. I’ve just checked with my tarot cards and double checked on my crystal ball.
Sara (Debt Camel) says
gotta be right then!
Leanne says
Here’s hoping but as they still haven’t said what percentage people will be paid and they o nly have until Thursday due to bank holiday weekend if they are still planning to let us know in March it looks very unlikely
John C says
Mystic Marc
Dan says
Has anyone had email yet about percentage they will get? Emailed them a few times and same automated email saying “we will be in touch in march andd payment made in April, please check your bank details are correct,”
This last email was today 25th, got a feeling no payment are gonna be made in April
Alex says
No, no updates yet as to the percentage or time frames.
They have given themselves March to complete the calculation based on finalising all appeals but there is no indication if this is done or on track. They are not giving any information out and it’s likely at this point we just wait until they do.
That said, they having until the 21st April to issue their next update which is the only firm date the scheme dictates.
Marc says
So, is my crystal ball prediction (the thread just above this one) not considered to be ‘firm’ then?
Alex says
No, the official communication from them on their FAQ still says the anticipate that payments will be made in April and they the payment figure is not guaranteed to be within the predicted percentage.
At this point, there is still a chance that they could pay later in the year and you could be getting less that even 24%.
Hopefully, they will have an update by the end of the week or at least they will start telling customers some details after the appeals process has finished.
Marc says
Fair enough, I’ll put the crystal ball back in storage and wait for a more official update :-)
Hannah says
Not sure what to do , my case was rejected and referred to Adjudicator since from the start , haven’t heard anything since then
Called them numerous times and told I just have to wait
Is there any hope ?
zoe tunme says
I have been waiting 7 months for a decision from the adjudicator, I havent seen anyone have a decision from adjudicator yet!! frustrating
Marc says
Also, does anyone know what the status is/was in the portal for someone that actually pressed the Appeal button and went through that process? For example, did it change your Claim status from Not Upheld or Partially Upheld to Under Appeal or anything like that?
Again, just curious, thanks.
Marc says
Just curious, but what does is say in the portal about your claim?
When I log in for example it shows my claim with a status of ‘Claim Upheld’. There was until recently an ‘Appeal’ button but that’s recently disappeared, we know about that. Just wondering if your status is any different? Maybe it’s changed recently? Maybe you still have some other buttons that might suggest that you still have an ongoing claim rather than one that’s basically been decided and isn’t going any further.
Also, in the ‘Messages’ tab, have they tried to contact you at all?
I’m just curious, we might be able to learn something from the differences people see.
Alex says
No, nothing has changed on my portal. I suspect they will send out an email as they did with the claim outcome in the come days/weeks.
I imagine they are in the process of putting together the letters for everyone due something with dates, amount etc.
They did say in a previous message that they didn’t know what ‘batch’ I was so I assume they are paying in patches throughout April so not all at once.
Terry says
I messaged NSF asking if it would be an issue if the adjudicator were to make a decision AFTER payments were processed. There response was this:
Hi Terry, There should be no issue with being contacted after payments are made – this is probably a more than likely scenario but it is best to wait for their contact. Many Thanks
Leanne says
I think they will leave it until Thursday to make contact as then it will be the Bank Holiday so no one will be able to contact them until Tuesday
Alex says
Bit of an update that doesn’t say too much – but a reply I got today said they were still forecast to be making payments in April. This is on the back of the previous scheme update that said April payments might be challenging.
Al says
Going to assume that unless we hear anything today that it’s just going to at some point in April. Has anyone heard anything today?
Leanne says
Not heard anything as of yet. I think they will send out emails at 4:55pm so lines will be shut by the time people open them
John C says
I rang for the first time today and was told they were hoping to get the % splits out today, but that was looking unlikely. Spoke to someone around 11am. I’d guess next week or week after now, but that’s a total guess
David Keirby says
I’ve not heard anything, had my claim upheld on Feb 27th for 4660 redress, hopefully here something soon
Andy says
I’ve logged on to my portal this morning and update bank details part along with messages has disappeared so I’m guessing they’ve started the process of paying out and it wont be long.
John C says
Strange, I can still see everything as normal – Overview, Agreements, Messages, Bank Details and Get in Touch tabs are all visible and I can go into them. Still shows claim value at nearly £11k. Only thing that changed recently was the removal of the appeal option, however my claim was submitted in July and upheld in Sept, so never needed to use that
Marc says
Yeh, likewise, nothing changed for me. Still says Claim Upheld since August ’23. Other than the Appeal button disappearing a few days back it’s status quo
Al says
I’ve been getting a page asking me to check contact details but when I check the banner it goes to the usual portal pages, are you sure it’s not that?
Al says
I’ve still got mine – yesterday the page was having a problem loading, sure it’s not that?
I messaged them last night and they said they were still not in a position to give out the % figure – I can’t see why they would start taking down part of the portal if people still need to get in touch?
Andy says
Nah portal page there with claim upheld and the amount and also name and address details and that’s it. Assumption is that they doing this in batches and started the process on mine. Will keep people updated as payment could be as early as next week. But not holding me breath though.
S says
Is this on your ‘overview’ page ? If you press the drop down arrow on the overview does it not give you messages etc? Really hope this is what you think and payments start coming through soon 🙏
Wendy mcdougall says
When I log in it just says no claims submitted there’s no overview page sadly. I am gutted. 😞
I’ve submitted a complaint to the Fin Ombudsman as feel completely lost at sea with this.
Dan says
I wonder how many banking apps crash next week when we all keep logging on to see if been paid 😂😂 because NFS are full of lies, same constant auto message saying the exact same message.
Al says
I’m not sure they have been lying – going by everything that have said they haven’t yet guaranteed firm dates or payout percentages or even said when they will be able to. If anything, they have been clear that they can’t be clear and that have a lot to work through.
Dan says
(One of the same emails I’ve received numerous times)
Thank you for your email.
We will be contacting you shortly to advise the % you will receive, ie between 24-31%, payments will be made to your bank account during April 2024.
This is all the information we have at this moment in time, rest assured we will be in touch soon.
Please check that your bank details are correct on the portal.
Kind regards
Sue
(The other email same one aswell )
Thank you for your email.
We will be contacting you in March to advise the % you will receive, ie between 24-31%, payments will be made to your bank account during April 2024.
Please check that your bank details are correct on the portal.
Kind regards
Sue
These were also received in March! The last knee was receive 25th march
Paul says
I received this update yesterday:
Good morning, I hope you’re well and thank you for getting in touch. We are still forecast for payments to be made in April. This will be communicated to you in due course via your preferred communication method together with the confirmed percentage, total redress claim amount and payment date.
Al says
Yeah, I think they are just using a template with the same information on since a lot of people are asking the same questions right now.
I’ve had the same emails, plus I’ve had a few that are different. I’ve also rang and spoken to people and been told the same thing.
The reality is – they don’t know the exact amount and they don’t know exact dates and they are not in a position to give this out yet either. If you look at the last report everything is an estimate in terms of numbers and dates, but they have indicated they are still on track.
Dan says
But they ain’t on track, as was stated we get told the percent in March, so defo not on track.
Al says
They haven’t said we will get the percentage in March. If you can see any recent documents that show this I’ll happily agree – all they have said is that they should have an update within a month of their last statement which was 21st March. I think the chatter here has led people to think it will be available in March.
Leanne says
I emailed the middle of March and was told that we would have the percentage in March with payments being made in April.
Most people who contacted have had the same automated email.
Al says
Yeah, I’ve had similar experiences emails – they don’t stay we will be told in March, but that claims will assessed in March and the payment percentage will be calculated. But they have always careful to give ‘estimated’ time frames and nothing concrete.
Dan says
Every email I have received from last year says the percentage will be March
Al says
This is an example of one of the many replies I’ve got regarding March updates.
All successful claims will be assessed in March 2024, for an actual percentage amount, and then payments will be made during April 2024. Could you please confirm the bank details on your claim are correct. Kind regards
Note, it’s not saying that they will be telling us exact percentages in March, they are finalising the process in March and will have established the percentage too – but not explicitly that they will be telling people what this will be. The assumption is that they will shortly be sending out communication via your preferred method that give all details of percentages and payments dates (and total to be paid) to people. If imagine as soon as people start getting these they will pass the details on. From the correspondence I’ve had with them, it’s unlikely they will tell us informally what they percentage is before people start getting the formal correspondence – which again they haven’t given a firm date when this will be outside of ‘shortly’.
As far as I can tell they haven’t promised anything that they are currently not keeping up with but maybe other have been told something different.
Leanne says
HI Leanne
Thank you for your email.
We will be notifying in March the % to be paid against your claim, which is currently between 24-31%, payments will then be made during April.
Please check your bank details on the portal.
Kind regards
Sue
This was the email I received on 19th March this year.
Doesn’t say on this ‘expecting’ to be notifying us in March, says we will be notifying in March the % to be paid
Ell says
Anyone had any updates yet on there claim , I’m praying payouts are still in April
al says
From what I can see no information has started coming out yet – ideally they are back in the office today and can maybe start replying to messages people have been sending over the bank holiday weekend so hopefully some kind of update soon.
Ell says
Thank you will let you a know if any updates still early in April
al says
I’ve spoken to them today, there is still no update – as of right now there is no information available.
Gemma Storey says
They are not holding true to info people have been given. They have replied to people through email, so therefore in writing, that % will be told in March. We are now April. This whole waiting game without info is getting tedious and I am sure for some, worrying. People have waited months for this payout and it has always been stated to be in April. Without them keeping the deadline of march for information regarding % I can totally understand why so many people are nervous that they won’t get their payment in April, as promised for months.
Is there any backlash from them not adhering to time frames in this situation?
Sara (Debt Camel) says
no – schemes give a lot of leeway on practical matters like dates of payment
Al says
Although some people have been told in emails that they would get a percentage amount given to them in March, I think this a miscommunication on their part. All the emails I’ve got and anything on their FAQ and updates don’t specifically say we will be told anything in March. In fact, the most recent update says they might miss the April forecast for payments to be made. That said, the call handers are still saying payments are being made at some point in April.
Dan says
Hi Dan.
Thank you for your email.
I’m afraid we have no update at present. We are just waiting that final percentage to be confirmed.
Once this is done payments will start.
Kind Regards,
James Latchem
Sam says
I could be wrong but I don’t see them being able to even let everyone know the % value of the claim let alone pay out until all claims have a final decision. Many are with the adjudicator still including my own and looking at the comments in here I wonder if the decisions from them will come as a job lot
zoe says
Exactly they cannot give a percent until all claims have been adjudicated. I had one upheld the other has been with the adjudicator since September. A percent cant be given until all have been looked at! Only then can they send all decisions and amounts. But I havent seen anyone have a decision from the adjudicator yet and thousands are still waiting so I am worried.
Sam says
Have you tried calling the adjudicators directly. I tried once, around a month ago, but was cut off when being placed on hold
Tommy says
If they delay beyond April than that would not be fair however we will no know for sure until the next report is due on 21/04/24 or if they do start pay outs before. They seem pretty/very confident on sticking to the percentage range on the last update however didn’t seem confident at all on pay out timeframes, mostly due to “the higher level of manual reviews required”.
What I do not understand is why, like other schemes, they couldn’t make a preliminary payment at say 12% and then pay the rest once they have calculated the final. Yes it would mean slightly more work however you would hope that they would have some sort of system in place that could automate this and make it quicker. I am confident I could do this alone in 1 day using simple formula so someone of Grant Thornton’s stature should be able to also.
The other argument for them is potential bank fees for making so many payments. Counter argument to that is it would almost act as a practice run to iron out any problems they may face when making the final payment and the cost to benefit ratio for people receiving a preliminary payment is heavy in favour of the benefit.
Al says
I’d assume since it’s an expensive process they want to get it all done in one go. If they pay a dividend then more work then another payment, that would take longer. They don’t lose anything from making us wait as frustrating as it is, but they would likely save money by getting it done in one go. However, you’d assume that the cost to run the scheme was already allocated as part of the 14m.
Marc says
None of the costs of running the scheme come from the £14m. The £14m is set aside in a trust fund waiting to be distributed to creditors.
Al says
If that is the case then they should have more incentive to get it finalised quicker.
Gemma says
I’ve just called them. The lady I spoke to said unfortunately the % didn’t come in March but they are still expecting payments to be made in April ‘at the moment’. I asked outright if cases that were awaiting decisions from the adjudicator are holding it up and she said ‘not that they’ve been told’.
Needless to say, her ‘bail out’ language of “at the moment” and “not been told” could just be a way of covering all bases. Im no clearer now than before a called 🤦♀️.
Zoe says
They cant work out a percent till they know how many have been upheld and the amounts. Surely that is impossible.
Marc says
Which ever way you look at it, it’s been going on for a long time now and people are starting to get itchy because it is taking too long. In the last report they said they’ve adjudicated 55916 claims out of 60820. So they’ve taken around 6 months or so to deal with 92% of the claims they received. They’ve now had more than 3 months to deal with the final 8%. It just feels like it’s dragging on.
They ‘can’ work out what the % is before ‘every single’ claim has been completed because of the volumes of claims and the amount of money involved there’s a point where the remaining claims would not impact the % no matter if they were upheld, partially upheld or rejected. If they set aside the value of each claim that’s outstanding, there’s a point where even if there was a substantial amount of £ left in the pot, it wouldn’t effect the percentage because once it’s split across the thousands of successful claims it’s just a few extra pence to each person. It might be a few hundred or a couple of thousand to one person, but shared out it’s nothing. But you really have take into account the scale of things here e.g. the volume of successful claims and the amount of money involved. it takes a lot of money to alter the final %.
So, purely based on the numbers. I’m just saying, it is possible. I know there are lots of arguments as to why they wouldn’t do it. I don’t care if they do or don’t, I just want the whole thing done and over with so I can move on.
Zoe says
I would like to be able to contact the adjudicator to ask for an update. I’ve been told that isn’t possible. As you say. The last 8% can’t take that length of time. Plus they set aside what was needed. Feel as a collective some sort of pressure needs to be exerted so that they can at least be truthful with people and give an update or reasonable timeframe. They have till 21st this month to report back. I’m an optimist. I think by Friday we will hear something.
Gem says
I’m very anxious. I set aside that money to pay something which needs to be paid by end of April. Now it is looking like it won’t be paid out in April and I’m worrying myself sick how I am going to make my payment.
John C says
There is the possibility that of the 92% already adjudicated, many of those were turned down and every one of those asked for an appeal to be sent external. I don’t think we can assume that there is around 5k claims to look at in 3 months and it would be done. Would be curious to see how many people who had a claim denied just took it on the chin and walked away. There “could” be 20-30k claims sat with the external team and thats why its taking longer than originally expected? I think someone mentioned that Norton could send all the reviews to NSF at the same time, which does seem to be logical. Then it should be very quick to calculate the %. Obviously just guesswork but might explain where they are at
Dan says
I’m think all should just take it on chin and no that no payments will be made in April, , as bad as it sounds, they have set a time frame and failed to meet it, like most business have targets andd KPI and don’t always meet it, forget it, stop worrying , and when it arrives on ya bank then it’s a surprise for all 👍. Have a great week, I need to go back to work now!
al says
I seem to have stopped getting replies to any messages – they are either too busy or don’t have any new info, anyone having a similar issue? Also – have any schemes like this gone ahead before and if so did they have an issue paying out on time?
Marc says
I was part of the Provident one last year, I don’t recall it being late at all, but I’m happy to be corrected.
Becky says
I rang up today was reassured that the percentage of my claim would be sent to me soon and the money would definitely paid in April!
Zoe says
Hi Becky. I really hope this is true!!
Zoe says
Just received the automated:
We are writing to you regarding the claim made under the Scheme on 2023-07-07. We are currently receiving a high volume of claims and it may take us longer to deal with the claim than expected. No further action is required, and we will be in contact as soon as possible.
Which could be sent as it’s on a timed response. I’ve had one upheld. One being adjudicated since September. From what I can tell, no one of the 55k adjudicated claims that they have admitted have been processed have been contacted with a decision. Weird.
Just hopeful that we will at least this month be given a date of our payout.
D says
Got a response from them today. Seems they see believe it to be this month, just no exact date yet.
So we wait :)
**
Admin Team
03 April 2024 15:18
Update
Hi, At present, once the actual percentage figure is known and communicated then payments are still forecasted to be made during April 24. Kind regards
**
Hannah says
My case was also referred to adjudicator in September – and haven’t had any news but these automated messages
I have rang the law firm just before Easter -that was suppose to deal with the case ( found them on letter sent when my initial appeal was rejected ) , they are Norton Rose Fulbright LLP and they have said that NO case have been referred to them yet and many people were contacted the firm with the same inquiry and they are still awaiting from everyday loans to send through the claims and I have reported this back to everyday loans and they lady acted completely clueless and it will be “ looked into” Haven’t heard anything since then.
Why did they say that the case has been referred to the adjucator on the portal then. I’m so confused
Zoe says
I have just emailed them this:
Contact NSFClaims
Good Morning,
I am sure you are inundated now with contact, as payouts have been estimated to be in April.
There is a link here https://debtcamel.co.uk/everyday-loans-george-banco-trust-two-scheme-refunds/comment-page-5/?unapproved=531104&moderation-hash=d768521253466917905a239482d101b3#comment-531104
Where Claimees are sharing your responses and contact, we are all very anxious and confused and would appreciate an update.
What is puzzling is that 60,000 people had their claims adjudicated, in January over 55,000 had been dealt with as per your report, yet not one person has been given their outcome… why is this? Also it doesn’t seem correct that it has taken three months to adjudicate the last of these.
This is as I am sure you can appreciate a stressful process.
Can you please confirm a date the percent split and also when we are likely to receive our payouts.
Thank you
** will let you know my response
Fiona Tuite says
I received this email from them after emailing them yesterday
“Hi
Due to a delay in the adjudication process starting, we expect that it will take at least a month before the Claims payments are forecasted to now be paid around June 2024. The final amount of compensation received will not be known until all claims have been received and assessed. However, it is estimated that if a customer is deemed to have a valid claim, then they are likely to receive compensation of between 24% – 31% back of the claim.
As soon as we have a definitive outcome for you, we will be in touch.”
Very disappointed with this but at least I know not to look for it this month.
Al says
And they have started the reason the have pushed to June is because the Adjudication is taking longer and also that June is not concrete, this could also move. The guy I spoke to said that they will be updating the FAQ soon
Ell says
Ahhh this has really upset me now I’m sure they said yesterday April still defo on !!
Andi says
Scheme Sanction Court Order:
5.2 Promptly, and in any event within 10 Business Days, after all Scheme Claims have been determined and, if necessary, adjudicated, in accordance with Clause 4, the Scheme Supervisors shall set the Scheme Payment Percentage
5.3 Promptly, and in any event within 15 Business Days, following the determination of the Scheme Payment Percentage in accordance with Clause 5.2, ELL shall make Scheme Payments to Scheme Creditors. A Scheme Creditor’s Scheme Payment shall be equal to the amount of its Net Ascertained Scheme Claim multiplied by the Scheme Payment Percentage.
They have 30 days from confirming the % to pay out – that is once ALL claims have been confirmed/adjudicated.
J says
Well that’s incredibly concerning, I sincerely hope that isn’t true!
Tommy says
I am not surprised at the delay, I still find it frustrating they wouldn’t invest in a preliminary payment. The cost will be minimal compared to the benefit to everyone. It’s another one of those things where us the consumer can be let down, delayed etc with no punishment against the corporates. If there was a financial penalty against them for the delay perhaps they would invest in a preliminary payment or invest in getting things processed quicker as it stands there is zero incentive for them to stick to the timelines.
Becky says
So is that confirmation that no payments will be made in
April Sara?
Sara (Debt Camel) says
you know as much as I do
Al says
The exact wording the operator used when I asked was that there were ‘definitely’ no payments made before June.
He stated that the figure could not yet be determined and therefore payments wouldn’t be able to start. The adjudicators contacted them this morning to update and said it was due to working through the backlog of claims.
Zoe says
They hadnt sent any to the adjudicator – someone called Norton Rose last week and they hadnt been sent any. So the delay is not their end. Absolute shambles.
H says
Hello,
I’ve also had the same email stating payments are now forecast for June. Really disappointing.
Gemma says
I’ve just spoken to them, and yes, no payments will be made until June!!!
Becky says
They need to update the website as a matter of urgency really. Its wrong that only a few know about the June information and have had an email. I only know because of this thread. I wonder when they they will announce it.
zoe says
The wording in email they sent me is around June, could be later. I have a feeling this scheme is going to collapse, there is no rhyme or reason why they never sent the appeals to NRF, they have purposely kept these now just sending – someone called Nortonj Rose and they confirmed this, they wont be adjudicting 60k in a month, its impossible. Something is fishy, i am resigning to the fact I wont be getting anything even though one of mine was upheld.
Da says
I think it’s wrong that I actually complained to everyday Loans twice and they didn’t upheld the complaint! And now this is been upheld I’ve lost out on 4500£! I don’t think we are. Getting anything!!!
Marc says
It can’t be 60k going to the external adjudicator, it will just be the claims that were ‘not’ upheld and an Appeal was subsequently submitted. I guess there’s no way of knowing how many were not upheld and then how many of those decided to appeal the decision.
No matter how many there is, if the ELL are only now sending them off to the adjudicator then shame on them.
It kind of explains why it seems like everyone has had an initial decision, but a lot of people that made an appeal for a claim that wasn’t upheld are still waiting to hear the final decision from the adjudicator
Andi says
Page 8 of the Covening hearing Judgement (on NSF’s website) states:
The key provision of the Scheme is that upon completion of the Proposed Restructuring, the Company is required to pay the Scheme Fund of £14 million into a trust account for
the Scheme Creditors. The Scheme Creditors will be required to submit all Redress Claims and claims for FOS fees by the later of 31 December 2023 and 6 months after
the Scheme becomes effective. The Company will assess claims which have been submitted in accordance with the terms of the Scheme. There is a claims assessment
methodology. In the event of disputes about claims, they will be referred to a scheme adjudicator, an independent person appointed in the Scheme to hear such appeals.
I take this as they are permitted to delay until June 2024, there is no dates quoted in any court documents stating before this date to issue redress.
Al says
Just out of curiosity – does the 14m held aside gain interest?
Dan says
I knew for a fact that this would happen!
Fake promises for the last 8 months!
Hi
Due to a delay in the adjudication process starting, we expect that it will take at least a month before the Claims payments are forecasted to now be paid around June 2024. The final amount of compensation received will not be known until all claims have been received and assessed. However, it is estimated that if a customer is deemed to have a valid claim, then they are likely to receive compensation of between 24% – 31% back of the claim.
As soon as we have a definitive outcome for you, we will be in touch.
Regards
Sue
Wayne says
I had exactly the same reply, word for word. Love a copy and paste job
KH says
On enquiring I also received an email stating that payments are now forecasted around June. The terms of the scheme enable this delay and indeed payments could quite possibly be delayed even further given that a considerable number of appeal cases still have to be adjudicated.
There is also the remote possibility that, despite £14m being set aside for redress, the scheme could collapse at this late stage. Hopefully that won’t turn out to be the case but it wouldn’t be the first time that this has happened. Morses Club went into administration after the scheme had issued final decision letters to customers outlining details of claim outcomes.
Al says
Surely, if the company went into administration the 14m is already ring fenced as part of this scheme? What were the circumstances for the Morses Club? Was it exactly the same?
Ell says
I think we’ll just have to wait and see I’m still hopeful just got to be pat. Why would happen though if it did collapse no one would get an anything ?
AB says
Morses was a different entity altogether over 630 thousand claims totaling over 130 million in redress resulted in the scheme failing , they where unable to raise these figures and keep operating. This scheme has already has the funds set aside and the percentage of redress is dependant on the amount of successful claims. I’m a firm believer lessons have been learnt from morses.
My claim was upheld for nearly 17k so I’m keen for a response and my claim is not with the adjudicator as many more wont be either so best to wait rather than make a piss poor situation even worse by stating the scheme may fail
Sara (Debt Camel) says
nowhere near 630,000 claims… from the Morses administrators proposals “The Scheme had identified over 60,000 customers with redress claims who are now treated as unsecured creditors of the Company.”
AB says
Apologies Sara typo !! Seemed to press too many ‘0s’
Regardless of that the post was to highlight the difference in the schemes and stop panic setting in with people.
Marc says
100% agree.
it’s just taking longer than we wanted it to. It doesn’t matter why, it just is.
Marc says
There’s a lot of negativity after today’s updates. Especially talk around not getting any kind of pay out or scheme’s collapsing etc.
Guy’s please remember, the reality here is that these things take time, ELL have obviously under estimated how much work is involved and how long it will take etc. But at the same time we’ve all been building ourselves up for the big pay day in April.
The process is taking longer to complete, the only thing that’s changed is the month that we’ve all been building ourselves up to.
The reason this sucks is because ELL haven’t invested enough time and consideration into keeping us up to date, so we’ve all just had our eye’s on April. Then finally someone’s realised they can’t put it off any longer and they should probably let us know.
But nothing else has changed, at this point there’s no evidence of ELL becoming insolvent (which is the only way you would lose out on an Upheld Claim). The money isn’t going to disappear because it’s taking longer to give it to you. As disappointing as it is, it’s just going to take longer.
Believe me, I am gutted, it’s my son’s 16 birthday on 21st April and I was hoping to be able to go the extra mile this year with this pay out because as we’ve not been able to properly treat him for about the last 8 years because of debts. But I will always try to end on a positive, it’s is still coming! Just not yet!
John C says
Agreed. I posted a little earlier (but not approved), that I couldn’t really see the scheme collapsing. The money is already put away and ring fenced. There can only be an X amount of claims to externally adjudicate – whatever X is, but plenty of people have had them already upheld, so it can’t be 60k
Pretty poor of NSF to be telling people last week it would be definitely April for payments, but all “official” documentation states an update by the 21st April. I don’t see any benefit of the scheme lying to people about the amount we would get, and they would get paid a fixed amount to do the work, so not in their interests to drag this out as they are paying staff to do a job, that they could be doing on the next project they win
Frustrating across the board, but hopefully this will all be forgotten about when money does land in bank accounts.
AB says
Best post I’ve seen all day Marc , makes complete sense !! Well said !! X it’s a waiting game and like you I’ll remain positive. Seems to be people on this thread like to focus on typos rather than the true intent of people’s responses ! I will remain positive and wait as I’ve dove before not because I can afford to ( far from it) but because I have to x
AB says
Apologies I put too many ‘0s’ in Sara.
should have Proof read before I pressed send. Point I’m making however is that the scemes are nothing alike. I too have a morses claim and an amigo one and tbh this has rum a lot smoother than those IMO.
The post is to highlight the negativity and scare mongering being posted. Yes I too am annoyed but let’s remain positive eh???
Al says
I’ve asked them to clarify something – the email I’ve got says they are delayed by a month and now expect June. So, I’m assuming they expect the percentage to be declared and letters to be sent out in May and then payment to start in June.
Rachael says
Hello, I have just called the helpline as unfortunately my email was hacked so I had to update them with my new one for future correspondence.
The lady who I spoke to did say they had an update 2 days ago and payments should be now in early June.
J LEON says
Yes I received a email stating payments will probably be in June even if it comes in July its something we never expected when we took our our loans
Al says
That’s not the right way to look at this, it’s not ‘free money’
They lent money at extortionate rates to people with few other options, knowing it was going to push them further into debt for the long term. If they never lent in the first place, it would have been tough but if I’m totally honest I would have been much better off without it and looking at something else. EDL repeatedly called and emailed me suggesting I get a loan with them, making various offers – and sold me a ‘consolidation’ loan when I was very desperate. All this loan did was keep me in debt longer – I maybe paid £50 less a months but I was paying for a few more years. Yeah, I take responsibility for accepting the loan but the scheme and FSO has determined these should have never been offered out in the first place.
The reality of the payments getting pushed back was that I actually realised I didn’t ’need’ the redress – it’s going to be useful to clear some debts but if I’m honest I likely would have wasted most of it and not put it all to the right use. Having the payment pushed back has been a bit of a reality check and had to mentally ‘unspend’ it all this week and after that it’s been a lot easier to understand it best being used sensibility.
This is just my experience, I can imagine it differs from person to person a lot – but it’s been nice to not have to be constantly checking my emails for percentages anymore.
KH says
In my post yesterday I referred to the possibility of the scheme collapsing although I did qualify this by stating that this was remote. My comment was neither intended to be negative nor scaremongering but it appears to have been perceived that way by some.
I was simply being realistic and managing my expectations. The outcome of my own claim was that I am owed in excess of £17,000 of which the scheme administrators currently estimate that I will receive between 24% and 31%. Again, taking a realistic view I do not expect to receive a payout based anywhere near 31%.
Additionally, considering the number of claims still to be decided I am sceptical as to whether or not the revised date of June is a realistic target but that remains to be seen, similar to the final percentage payout.
My views are not negative but I’m certainly not deluding myself that I will be receiving a 31% payout anytime soon!
Marc says
I think it’s a shocking that there’s no way on this site to allow us to denote £1 each for a Winner Takes All on who makes the first post with the actual % immediately after it’s officially communicated 😁
Harry Traitor says
Camel can provide snacks & drinks, while we wait for that magic percentage to roll in.
Who knew financial justice could be such a nail-biter? 26.5% is my guess.
Daniel says
Well I think everyone in here has been very informative and I’m glad I have a clearer understanding of what’s going on now thank you all for your support and perseverance it’s been very interesting reading everyone’s comments. I also was hoping for an April payout hence why I’m here but let’s keep the faith all will work out for good in the end 😁
Ash says
I guess at the end of the day it’s money we knew nothing about before last year, so if and when it does happen it’s 100% bonus …. definitely not to be relyed upon I’m afraid 🤞🤞🤞 x
AB says
Back in 2015, after getting to a point with debt where I couldn’t breathe, I took the step of entering in to a debt management plan. The charity I worked with negotiated with all of my creditors to get interest frozen and payment arrangements in place. When I first spoke to them, the charity said there was only one lender on the list who was always difficult to negotiate with – Everyday loans. Not only did they refuse to freeze any interest (every other lender did) but they front loaded all of the interest across how long it would now take to pay off the balance – meaning I paid £4k interest on a £2k loan – and demanded the lions share of my monthly payment. This kept me on the DMP for 6 years- roughly two years more than I would’ve been had it not been for Everyday.
I was warned I might get calls from creditors who would try to get me to pay more – rather than dealing with my debt management company. I had debts with high street banks, payday loans and none called me, the only one who called me (daily) for 2 months was Everyday – it was such a stressful and difficult moment of my life – at a time when I was just trying to get myself sorted and finally deal with debt.
Now they have upheld my claim and I might get a chunk back of that interest, buy I’m tempted to call them daily to chase what I’m owed. Why should they be allowed to bully vulnerable people and we just stay quiet because the money we’re getting feels like a bonus?
Sara (Debt Camel) says
It is a shame you did not complain about that level of phone calls while in a DMP – it’s completely unacceptable
AB says
If it happened today, I would complain, but I was at a very low ebb back then, and I just wanted things to be sorted – in the end, I blocked their number!
J says
I can echo what you say regarding how unhelpful Everyday Loans are for people who are struggling. I got into a real mess with Payday Loans, short term credit and unaffordable lending. I was not in a formal DMP but tried to arrange with all of my creditors independently to arrange repayment plans whilst I sorted out my finances. Everyday Loans were the only creditor to refuse this and were in fact very confrontational with me – essentially saying it was my own fault I was in this position and they were a “reputable credit builder” therefore I should prioritise their repayments. They eventually agreed to defer only one month of payments, adding it onto the end of my loan term, increasing my interest. I am still repaying the loan. Once this loan is repaid and the alleged compensation is paid to us I would not touch Everyday Loans ever again.
C A says
Got this today.
Due to a delay in the adjudication process starting, we expect that it will take at least a month before the Claims payments are forecasted to now be paid around June 2024. The final amount of compensation received will not be known until all claims have been received and assessed. However, it is estimated that if a customer is deemed to have a valid claim, then they are likely to receive compensation of between 24% – 31% back of the claim.
As soon as we have a definitive outcome for you, we will be in touch.
zoe says
The problem with this response are the words “around” and “likely” – so basically neither could happen.
Georgina says
I got this today after pushing back about mixed messages and nothing on the website. The generic reply also made it seem as if all claims were being rechecked.
Thank you for your email.
When you spoke to James last week, the information given was correct at the time.
The website is due to be updated when the information given is factual.
Your claim will not need to be re-checked, and as soon as we have the % of the claim payable and the payment date, you will be notified.
Please accept our apologies for the delay.
The response is from “Sue”
Jess says
Hi, we had a loan from Everday loans and my partner made a claim through the portal but missed the email saying our claim was rejected due to them not having enough information about our claim, so therefore we missed the 20 day time limit to appeal. Is there any way to still appeal the decision? My partner put “Affordability” and ” Other reasons” but they said he failed to provide enough information about the other reasons for the claim. It was a mistake I wish I’d known about but knew nothing until I recently asked him to check that the claim had actually gone through. He is terrible at checking his emails… Has it cost us an appeal? Is it too late now to appeal to an adjudicator? We are on a DMP for the next 4 years and they haven’t reduced the interest so are paying 11k on a 4k loan.
Sara (Debt Camel) says
You need to ask NSF if you can still appeal this.
Marc says
I’m not suggesting you shouldn’t try, but I wouldn’t hold much hope. They removed the Appeal button from the portal about a couple of weeks ago now which suggests that they reached a point in their process were they’d done the initial assessment and judgement on all claims, then waited 20 days after the very last claim had been assessed and only then removed the Appeal button from the portal. I could see the Appeal button up until a couple of weeks ago and my claim was upheld back in August. So it feels like they’ve given people are fair go at appealing and they needed to draw a line in the sand so they could move on to the next stage.
Let us know if you do though, there might be other people in the same situation as you. Good luck!
Nicola says
Hi everyone,
I have dealt with “Sue” on all my emails and I asked whether, given my claim was upheld last year, there would be any change to it now there has been a delay and they are still checking other claims and she said no. Claims that have already been checked and show a status as upheld or partiatially upheld wont change and its just a process now to find out how much we will get ref % and when. She said payouts would now be June like others have shared.
A real pain we have to wait so long and that we havent received a formal message other than a generic response to individual emails *sigh*
Ryan says
Can we still expect a progress report within a month of march 21st like the January report stated? Will this have a pay date and amount? Or is that now not going to happen ?
al says
I’d expect a progress report as they are duty bound to provide this. However, considering that the delay is due to checking claims that have been appealed and this is why they cannot generate the percentage figure – I wouldn’t expect that the report to include the figure. If it was, then that would imply that they actually have completed all appeals and otherwise would be in a position to start paying out.
I would expect and hope the report is firm on the June payouts and to include reasons why it was delayed, and to maybe be further confirmation that the payout amount is with the expected range. What we don’t want on the update is another ‘maybe delayed past June’ and anything that suggest the figure is in doubt.
John C says
There should still be a report within a month of 21st March. As part of the process they have to follow those dates. They may not necessarily have a pay date or % amount though. I suspect the update will be as late as possible to at least give as much info as they can. Like January, the 21st is a Sunday, so likely drop the 19th (Friday)