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
kos07 says
“We are in the process of getting a statement together to be sent out. Unfortunately, the independent adjudicator contacted us on Thursday morning saying they need more time to complete their assessments. ”
June it is.
Terence Whitmore says
I thought pay outs where in April ?
So any idea when as it’s may tomorrow and not heard a thing.
Thanks terry
Al says
Check the comments here any info on the NSF website. They have also sent emails out.
It had been pushed to August at the earliest
vincenzo messina says
Was rubbish. It states that refunds should of started in April 24 , just been told Aug 24 the earliest. What rubbish court if they make a judgement why havent u paid . Vos the ajudicators are delaying for the benefits of the company
Mariola Daniel Baszkiewicz says
Good morning,
Where I would be able to check if and how much I might possibly have from the scheme of Everyday loans . I sent my form long time ago but heard nothing since.
Thanks
Sally says
You would need to log into the portal.
https://www.nsfclaims.co.uk/
John C says
Next update on NSF website, should be at some point in the next week. If you go back through the comments, payment is likely to be in June. No idea currently of the % payment yet
Have you had correspondence to say if your claim was upheld or not? If yes then its just waiting on that update. If not, you need to get in touch with them as the process for raising claims is closed now. Some people had missed emails with rejections, and the chance to appeal is probably up
Marc says
Which form did you fill out? I don’t recall filling in any forms and my claim has been upheld in the portal since Aug ’23. Did anyone else fill out any kind of form?
Sara (Debt Camel) says
You could describe the portal as an online form.
AB says
I was thinking the same Marc did we not just press an online button ?? Was the form to do with the start of the process and stating if with agreed or not with the scheme as I remember that vaguely ?? ( I might be wrong) I personally never filled in a form just the process through portal with ref claim number then applying in june last year and waiting for a response which I had fully upheld in August 23. I think may be the scheme vote letter ???
Michael says
You didn’t need to fill out a form. Everything was done through the portal, so please don’t worry.
If you can see your claim is upheld on the portal, you will be paid, most likely in June. % not yet known.
Loz Cuss says
The website now says August for payments
John C says
Update on website (dated 12th April, though only seen it today) now saying earliest payment will be August.
Although initial outcome letters have been sent to claimants, we still need to fully complete the appeals process of all claims before we will be able to calculate the final claim values (and make any cash payments under the scheme). There has been a delay in the appeal adjudication process starting and we currently expect that it will take at least a month before the scheme adjudicator has started to process and reach determinations on claims referred to them, which they will continue to assess on a rolling basis. As such we expect the earliest any distribution can be made is likely to be around August 2024.
Please note that that the appeal adjudication process involves both Everyday Lending Limited (ELL) and Norton Rose Fulbright (NRF), the Scheme Adjudicator, and is part of the overall process of the Scheme. We are in constant dialogue with the Scheme Adjudicator and are working to progress claims as promptly as possible.
Leanne says
I’ve just been onto their website and it now says August for payments!
So in the space of a few weeks it’s went from April to June and now August
Sara (Debt Camel) says
yes!
there are about a dozen more comments all saying the same thing, so I’m not publishing them all
Leanne says
Even though they have updated the website can we still expect a report by the 21st April as suggested before?
Ryan says
I wouldn’t mind if an actual explanation was given as to why but it’s not giving any facts to back up the issue . Terrible
Marc says
They ain’t going to give an update which implicates themselves or the Adjudicator in being the cause of the delay. If there was a real genuine unavoidable reason, they would state it, so the lack of reasoning only leaves one conclusion as far as I’m concerned.
It’s just bad management/supervision. I could understand them missing the deadline by a couple of weeks, maybe a month due to unforeseen issues. But their latest stab in the dark is August, 4 months late, I’m sorry, but someone’s F$%cked up….
Andy says
I wonder if the FCA would look into how they’ve handled this and punish accordingly. It’s been approved by the courts so surely there’s a time limit for this to be dealt with.
Sara (Debt Camel) says
the Scheme has a lot of wiggle room for timescales.
J says
Having dealt with the FCA over serious failings by a financial firm in the past, I can tell you making a report to the FCA will do absolutely nothing and at best the FCA would look at this in 2-3 years’ time. It just isn’t worth the hassle.
kos07 says
I personally think we should have the option now to have our claims open for review and potential appeal.
Another one bites the dust says
Why? What’s that going to solve?
It will only further delay the process as timelines have to be done for opening portal/closing portal time taken to review and adjudicate.
George says
Anyone know what “the delay in starting adjudication” was caused by?
Zoe says
Someone on this thread called the adjudicators just before Easter and they confirmed NSF hadnt sent any claims. I appealed last September and they have only just sent these over. So seems the delay is with NSF,
Zoe says
New notice on the front page of website. Mentioning a delay in adjudication, when it was only NSF that delayed this… however also mentions August likely for payout at the very earliest.
“As such we expect the earliest any distribution can be made is likely to be around August 2024”
I knew it wouldnt be June, its just constant lies.
Richard Bagshaw says
There’s notes from court documents higher up the replies, it gives the timescale they have to follow after adjudication.
It’s obvious they aren’t obliged to do anything until adjudication has finished. The longer that goes on ….
The 14 mil, where’s the interest and did you all get your ring fenced payments back?
Dan says
I blame everyone who’s appealed their decisions! So you all held everyone else up 😂😂😂. Jokes!!
Before you know it we will get an email saying it’s gonna be less % aswell
Zoe says
“It is important for us to stress that NRF, as the Scheme Adjudicator, can communicate with ELL only, and cannot therefore respond to individual claimants or comment on any aspect of a claim. NRF cannot communicate directly with claimants.”
This above on the main page, of course they dont want anyone communicating with NRF, as they havent started the process yet… it is a shambles and its more deceit and lies. Sorry but I still feel this will collapse, they have no idea how many appeals will be upheld.
I have mentally said goodbye to any rebate. If however I do, then its a bonus.
John C says
Why would this collapse? The money is ringfenced, it can’t be accessed except as a pay-out. The % might change, but we don’t know how many claims had been upheld, or how many have gone to adjudication. It could be thousands, or could be a few hundred. So many variables that its impossible to second guess. I think there is a big hit to trust in NSF’s comments due to the amount of people told, that refunds would be in April, however the official communication in Jan report, did say this would be a challenge and may not be achieved. As also pointed out, the timescales for payment, are only on the basis of completion of all adjudication, that is still currently ongoing. I see no benefit to NSF to delay this any longer than they need to. They are an independent company, doing a job, that are no doubt getting a fixed sum to do it.
I do wonder if the August date has been given now as a way to cover their backs. Worst case scenario, if the adjudication is quicker then great, if not at least they don’t have to change date again. Also means that people stop ringing for an update. I would also presume that the money sat in a bank is earning interest, and would therefore be added to the pot for pay-out.
John C says
There also isn’t any guarantee that any of the appeals would be upheld, even if there are thousands. These claims have already been through a process and an appeal. I doubt the criteria has changed for the independent adjudication. Much like I would think the % of claims that change between a FOS adjudicator and FOS Ombudsman are probably quite small, though Sara might be closer to those numbers?
Sara (Debt Camel) says
A significant number of Amigo claims are being upheld on appeal. The difference with FOS is that the first stage of the FOS process the claim has been looked at by a human – with these schemes, the first stage seems to be mostly a computer decision.
John C says
Thats interesting Sara, thanks for the insight
J says
My claim wasn’t upheld and has gone to the adjudicator and apart from the fact I had relatively little evidence to provide, I feel my claim was about as valid as it could possibly get (shouldn’t have lent me the money in the first place at that stage in my life based off my existing credit history). I complained against several other debts and won in almost every case so I would be surprised if the adjudication doesn’t result in quite a high percentage of claims also being found in favour rather than rejected. It’s just a shame it’s only starting to be looked at now, utterly appalling.
Matthew N says
I’ve had exactly the same situation and can’t help but think something is suspicious. I was literally on an IVA and had payday loans coming out of my ears.
I’m hoping they’ll publish what they have actually paid out (or will) a so can’t see why mine would be rejected.
Your_Old_Droog says
I agree. The wording of the 12th of April notice is concerning.
‘There has been a delay in the appeal adjudication process starting’ … meaning they haven’t even started processing the appeals yet!… and … ‘they will continue to assess on a rolling basis’ … meaning once they do actual start, whenever that may be, it could go on forever.
I haven’t appealed my claim, I have accepted whatever the outcome is and I am just patiently waiting.
However, according to my claim, I am due £2100 interest back and £700 compensation. Since we are only getting roughly 25 – 30 or so percent (unknown yet), I will only likely receive around £700 – £800 of this … which basically means that Everyday Loans get to keep all of the interest and this whole thing is really just a waste of time. They’ll just continue to do what they do out there on the high street.
Like you, I have said goodbye to this rebate. It’s just a bonus at this point if any amount ever comes.
Mags says
I got reply email from them deffo won’t be be before aug for any payout
Marc says
I wonder what will happen with claims that have been upheld for months in regard to the simple interest calculation calculated on top of the redress.
I was upheld last Aug ’23. But it’s been another 8 months since then, so what about the interest payment for those 8 months…
Marc says
I read my own Claim Resolution email again from when my loans where upheld. So, I’m answering my own question..
“plus compensatory interest at a rate of 8% per year on those payments (after the application of balance adjustments and any Ring-Fenced Account Payment) up to the Scheme Effective Date”
So to answer my own question. The compensation interest is calculated up until the start date of the scheme. I suppose awarding us more compensation interest at this stage would only serve to lower the final % we all receive
Zoe says
Worth mentioning I had two claims. One in 2019 which was upheld for £1290 for a £1000 loan . The second claim was 2021 when my credit had worsened even though my income had increased however was far more irresponsible and less checks made. This was £1500. Redress on this would be £2400. This claim was rejected. I appealed as made no sense.
I sincerely hope there is some money left at the end of this lengthy and confusing process. What makes things difficult is correspondence saying April payout then June. Now earliest August. They won’t know until all appeals are dealt with. I wonder if on the outcome the majority of appeals are upheld there is then indeed enough to payout.
I feel this will push on past the August as the terminology “earliest” give little hope. I also hope that even if the percentage payout drops there is some redress due. Bit hopes are dwindling due to the deliberate delays and the deliberate untrue information given so willingly.
I feel they have underestimated what will need to be paid out and there is a real chance the scheme could collapse. Sad to say this. But I have no faith after witnessing and hearing the mockery of replies and the samples of this process. I wish we all see something. But in my opinion highly unlikely.
Marc says
Scheme Supervisors report is out!
The estimated cash return for Scheme Creditors with eligible compensation claims is not expected to be lower than the prior forecast of 24%-31%
Next report within one month of 21st June.
62,233 claims (all received their first outcome).
1,061 claims (currently still waiting for adjudication. This is the number of claims that are delaying everything for 4 months!)
Everything else, we know already.
Zoe says
Am I correct that they have set “aside” 14 million? To pay out? If so 14million spread over 63k is only £222 per person. Many people’s redress will be far higher than this so I can’t see there is enough money to pay out.
Sara (Debt Camel) says
Many people will be getting their redress mainly through reducing their outstanding balance. No cash being paid to them.
Marc says
63k is the number of claims, not the number of upheld claims…
Al says
New progress report on the NSF website. Confirming that the earliest date for redress is August however, the still do not expect the payout range to drop.
Tommy says
Surely this scheme is making interest so the returns should increase? I understand it may only be pennies per person but otherwise a company well known for profiteering mostly off of desperate people to the extent they have to do a scheme like this is now likely earning at least £10,000 a month in interest by delaying the scheme.
As long as there is no penaty for the delay and in fact they are likely earning money from delaying why would they put any effort into hitting the April deadline? From a business perpective I can’t blame them, from a moral perspective (something this company is clearly lacking) its very poor and there should be legislation or guidence to judges approving these schemes to prevent the consumer being let down every time.
Still, as people have said, before I received an email informing me I may have a claim I was expecting nothing so waiting a few more months for money I never knew was due to me in the first place is still a big bonus.
Sara (Debt Camel) says
Interest earned will go to increase the final percentage payout a bit.
John C says
At least its now clear what is still outstanding. Less than 2% of claims are in an external adjudication process – 1,061/62,233 = 1.7%. Even if 100% of these are upheld, then that is likely built into the range of pay-out. We don’t know if these are £500 loans, or £10,000 loans I suppose, but they will no the value of them, so I can’t see how this is going to make a scheme collapse. Poorly communicated, yes, over promised on dates, certainly, but Grant Norton seem have followed the plan they laid out, have raised reports when they said they would and their staff are no doubt taking a bit of a bashing off claimants due to their mistakes.
As I said earlier, there is no reason to delay this any longer than absolutely needed, doubt Grant Norton will be getting paid more, and I would expect the interest earned, to be added to the avail money, if this is ring fenced. Always disappointing when you think you’ll be getting a lump of money soon and it doesn’t materialise. Especially for those it will make a huge difference too. Fingers crossed the 1k adjudications don’t take as long as expected. Think we need to switch off for a couple of months and see what the report in July brings and hopefully everyone gets what they were expecting
John C says
As a quick calculation
If £14m (the money avail) pays out at 24% then the total value of claims must be around £58.333m. If all 1,061 claims are upheld and lets say they are an average of £2.5k. This would add £2.625m to the claim pot, making it £60.986m. £14m would then be 22.9%. Even if every claim was £10k, the claim pot would be less than £70m and £14m would be around 20%
If my maths is wrong, someone let me know, but I hope that helps calm some of the panic.
zoe says
Thank yu for explaining this…. I am sure not all will be upheld, plus the 62k processed so far…. do we know how many of these have been upheld?
John C says
They haven’t said what % have been upheld, could be tiny. You can’t make a guess at how much money is avail without all the information. They currently think payment (based on 98.3% of claims done and dusted with no appeals process in place) will be 24-31%, and thats the only numbers we have seen. The calculation I used, based it on the lower end of the figure – 24%. I would hope based on everything that has been said, pay-out would be north of 20%. That is obviously dependent on the 24-31% expectation still being correct. If that isn’t true, then who knows, suppose we find out in August
P says
Sorry to be the bearer of bad news but I’ve just had an e-mail update advising earliest payouts will be August 2024 now
Leanne says
Was already spoke about on here last week when they updated the website.
I received the email today aswell and it does state that we have to check the bank details no later than 31st May so maybe they are still hoping for June but saying August just to cover their backs
AB says
I thought the same ! Here’s hoping !! Really random thing to put 3 months in advance as people may change accounts/ banks in that time. I’m remaining hopeful it will cone August but anytime before will be a bonus x
David Keirby says
Fingers crossed eh
Richard Bagshaw says
I’m not sure they actually need to cover their backs, until that last appeal is checked they don’t have any legal obligation to follow any timeline.
I think the focus here needs not to be on the amount of percent or the time of payment but on how close they are to completing the final appeals.
Leanne says
We are in constant dialogue with the Scheme Adjudicator and are working to progress claims as promptly as possible.
This is wording from the email I received today.
From the report they put on their website only 1000 claims had been sent to the adjudicator so hopefully shouldn’t take too long
Marc says
Between the start of the scheme up to 24th Dec they had received 60820 claims and 55916 had been adjudicated. So, 92% completed at that point, leaving 4904 outstanding.
Since 24th Dec up to 16th April they’d received 62233 claims in total. This is now fixed as we’re passed the deadline. On the 16th Apr they had completed 61172 of those claims. That’s 98.3% completed. Leaving 1061 outstanding
Since the 16th Apr they have been working on the final 1061 outstanding claims (all of those are ‘appealed’ claims). If they say they will be paying out in Aug. Between the 16th Apr and 31st July there are 75 working days. So they will have to clear an average of 14 per working day in order to be ready for Aug.
Leanne says
I’m sure there will be more than one person working on the appeals so 14 a day should be manageable
Keith Henderson says
email received today I have been notified my claim has been upheld and the claim value is £2232.52
I borrowed £2600 and the total repaid was £5580
There is no other information so I have no idea of how much I will actually get.
Leanne says
They’ve said that we will receive 24-31% of the claim amount. The percentage won’t be confirmed until all claims have been checked
Daniel says
Keith, did you appeal your original descision, or were you just late to claim?
Keith says
I claimed last year when I got the email from them. No appeal so may of just been later to claim.
Daniel says
I’m surprised at the low % of cases referred to an adjudicator.
From some quick and dirty maths, and reading a few comments on here-
Average value of payout – £4500
At 24%, this is £1080
At 31%, this is £1395
With £14,000,000 being the total paid out, this equates to approx 13000 successful claims at the low end, or 10000 claims at the high end – that’s 1 in 6 claims being successful, yet only approx 1000 disputed it long enough to go to the adjudicator?!?
This doesn’t take into account payments made to the account during the claim period being paid back in full from a seperate escrow account – I simply don’t have enough data for that. But even if this was £3000 per person (doubtful, as some claims date back to 2008 from what I’ve seen) , that only reduces it to a 50/50 rate for successful claims.
It also doesn’t take into account that the people on here are more likely to have higher claims, as they are invested enough to post on a forum about it.
Please take the above with a huge grain of salt – lots of assumptions here.
Leanne says
As someone else said on this thread some of the claims won’t receive any money back as they will just have their loans written off with the money
Marc says
My personal belief is that it is likely that the % of successful claims would be at the lower end. I mean no disrespect to anyone, but if you’re given a ‘CLAIM’ button to hit without having to put any further effort into it, I think the most likely behaviour would be for people to hit the button with the attitude of ‘Nothing ventured, nothing gained’.
But when the claim isn’t upheld and further evidence is required in order to appeal the numbers drop down to those people who genuinely feel like it’s worth taking further and investing their time into.
That’s just my opinion.
Zoe says
My claim was upheld. However if you look at other schemes. Amigo for example a very high number of those that appealed were successful. In any case even if all are successful there is enough money set aside. They are just waiting to see how many so they can work out what the percent will be. As above states asking for bank details no later than end of May, means hopefully it’ll be a June payout after all. Who knows, the August could also be delayed. Nothing so far has gone to plan. So I have mentally said goodbye to this and if and when it happens for me it’ll be a bonus. But I dont think anyone should rely on this.
Mr Craig Anderson-Jones says
I’m treating it the same way. I was surprised when it first happened but as I never knew about it, any money I get is just a bonus but I’m certainly not expecting or planning on it
Teddy Ruxpin says
I’ve wrote to them asking for confirmation of the number currently upheld….
Speaking from personal experience both as client and for an adjudicator (PWC) you would only be allocated so many hours per day for a “project” that has no deadline.
As there is no date stipulated by the courts, an adjudicator would prioritise their day to day busines and date specific workload first.
I worked on 5 projects similar to schemes over a course of 4 years. Each one of these we had a team of 6 working less than 6hrs a week, as we had our own work to do.
Some appeals were straightforward and cleared but the more tedious where your reliant on the business (Everyday) / client (you) to supply evidence makes the process drawn out.
You have to remember that an adjudicator doesn’t get paid by the hour – it’s a specific fee that may include a completion bonus. Plus the business (Everyday) aren’t bound by any timeframes either
Leanne says
Just wondering if anyone who appealed has actually heard anything from NSF yet?
If the appeals started last month you would think some of the people who appealed would have heard
Zoe says
I thought exactly this, tempted to call Norton Rose to check if they have started or received anything from them. The wording on new letter states not to contact them. I believe that’s because they don’t want people too. At Easter they still hadn’t sent any claims to them. So the delay wasn’t the adjudicators.
Zoe says
I emailed the support team, to ask why no one has heard back yet and where they were with it all…. this is the response I have just received:
Good morning, Zoe,
I hope you are well.
I need to check this with the management team as we are unable to contact the adjudicators directly.
Kind regards,
Martin
** So basically passing the buck as usual.
Leanne says
Did you appeal your outcome?
Zoe says
I had one upheld and one I have appealed. So yes I am due to hear on one that I appealed last September.
Leanne says
Hopefully they get back to you soon with a new outcome. Can see this going over again if they haven’t looked at any in the past month
Zoe says
Just recived this reponse, I asked why no one has heard yet from the adjudicated claims…..
Hi The team are working hard in the background to get the adjudication out to you as soon as possible. Claims payments are forecasted to be paid around August 2024. Following this assessment, we will prepare an assessment outcome for you, which you will receive by email, detailing the outcome of your claim in the Scheme. 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. Thanks
Again wishy washy languar “around” and no specifics….. I would lay money on Norton Rose not even looking at these yet….
Richard Bagshaw says
Have Norton rose even confirmed they are going to or actually looking at them?
Would be interesting to hear a response from them
Zoe says
Hi all, I have messaged today and asked if finally the adjuicated claims are with Norton Rose and if the work has begun, the response I received was:
Hi, I can confirm Norton Rose are working on claims as we speak. We will be in touch as soon as we have a response for you. Kind regards
Fingers crossed. I had the larger of my claims upheld, but one I appealed.
Leanne says
Keep us posted when you hear from them
Monica Raimundo says
I’m just wondering if anyone has received a response from adjudicator,it should be people receiving a decision by now
Zoe says
Unfortunately it seems no one has yet, I am someone who is waiting. I had two loads. One was upheld. The other I appealed. I appealed back last September and still nothing. I like you would be curious to know if anyone had heard back yet.
Richard Bagshaw says
Still waiting on a decision from adjudicator
I’ll update if I hear anything.
Dan says
I wonder if there was NOT an appeal option would we all got paid by now (who has the claim
Upheld ) and possibly paid more percentage??
The mad thing is I complained to EDL twice and both claims were NOt upheld, and also by time I passed to the the FOS it was to late for them to investigate
But now NSF claims have upheld it, just have to wait now
Sara (Debt Camel) says
who knows, but that isnt where things are. An it wouldn’t be reasonable to suggest that people should not have appealed so other people would get more.
Loz cuss says
We are almost through May now and I’ve barely seen any update from people who had appealed. There just seems to be very little progress (if any?) in 2 months! Starting to wave goodbye to any refund, I can’t help the more time marches on the less likely we are to receive what we should. I had 3/6 of mine agreed, I decided not to be greedy and appeal and see anything back as a bonus.
Leanne says
They’re saying payouts won’t start until August so probably drag their heels right to the end.
Considering how little people appealed you would have thought they would have been sorted now
John C says
Don’t think they have given any promises that they would update as they went. Might just issue all the findings when they have all been adjudicated? Don’t think there is any further appeal process, so the answer will be a final decision. If payment is not till August, then it could be July when decisions land in inboxes.
Not sure why anyone would think there won’t be a refund, the £14m was banked and can’t be used for anything else except refunds to complaints. Not sure what that payout will look like, but I’d fully expect there to be something. I’d think Everyday Loans wouldn’t be able to still trade if the court agreement hadn’t been made and the money put into a protected account
Zoe says
I have just sent this:
Good Morning, Almost a month has passed since the adjudications finally started…. yet not a single person has heard back yet. I am on many online forums with other clamiees and clear no one has had a decision, why is this? Can you let me know if all adjudication decisions will be sent together in a batch? If not why no one has had a decision yet Thank you.
This is the response:
Good morning, Norton Rose are working on claims and we will be in touch as soon as we have a response for you. Kind regards
As per ususal flaky and wont answer a quesiton that is asked. I had one of my loans upheld and I appealed the other. Its very frustrating.
Doubting Thomas says
Zoe, They won’t tell you anything more than that as they don’t know.
The people you are contacting are just manning the queries phone/desk firefighting the constant calls & emails.
They’ve given an update and a guidance date – that is all you can go on.
Just remember that only a few posts above you stated that you wasn’t bothered about it and not going to contact as you didn’t think much of an outcome was to happen.
Just sit back and wait – spending time sending emails/making calls is just a waste of your time and the persons replying.
Zoe says
I never said I wouldn’t contact them – I said I’d mentally said goodbye to any money. In fact I did contact them as so many asking why still after all this time no one who has appealed has heard anything. I am not bothered about the money. Not at all. I’m in a very good place now financially. However it’s the lack of communication and the fact they lied on numerous occasions and won’t give a straight answer. That’s my issue. I feel I’m being deceived. They have a dedicated team to contact and an email specifically for those who want an update. So it’s not a waste of time, remember they said Norton Rose had been looking at claims six months ago. Truth is they hadn’t received them. So it’s farcical and deceptive.
Lynsey Jones says
I’m beginning to lose all hope now of any kind of refund all my claims was upheld but with the delays constantly I’m now very doubtful.
Rachael says
My claim was upheld in December, I sent them a email last month to ask what was happening and the response seemed to be copied and pasted off the NSF Notice of Agreement update In April of which I had already read.
Doubting Thomas says
These things take time.
You’ll get your refund – the business is viable and still trading.
The Fund has been sectioned off so no-one else can touch it.
All they are doing now is the “grunt” work of looking through all those that have appealed – it’s not a quick process and needs to be done correctly.
Awarding someone who shouldn’t have been awarded does bring down the % in £.
So it’s in OUR best interests for them to take as long as they need and get it right.
Just look at the Amigo stuff – they’ve only now agreed that the first part of the 17p in £ will be paid out soon (at a rate of 12.5p and the remainder upto 6mths after)
At the end of the day it’s money you weren’t expecting, just don’t rely on the funds – put it to the back of your mind untill you hear when they pay out, else you’ll just keep causing yourself anxiety over something that you have no control over what so ever.
zoe says
It has now been over 8 weeks since the last update; yet as far as I can tell, nobody who has appealed to the adjudicator has had an outcome. This could be that they are waiting for all of these adjudicated claims (around 1000) to be finalised before they issue an outcome to all and then issue a final % to everyone who is due a compensatory refund, we have another 4 weeks till 12th July – where they must update again. Should no one hear back in the next few weeks, it seems liekly another delay.
AB says
They next report is due within a month of 21st June so will be anytime upto 21st July not the 12th. The monies there to be paid it’s not going anywhere else. ☺️
Zoe says
Thanks ☺️ thought it was 12th. Appreciate that. Yes likely we will get the money. However I feel it’s also likely it’ll be delayed again. Fingers crossed I’m wrong.
David says
My claim was upheld in Decembwe, I had no payment yet please advice when i get this payment
Doubting Thomas says
No one knows.
They’re currently dealing with claims that have been escalated for 3rd party review.
Estimated date for that is August but, I think it will be a lot longer than that.
David Hall says
As anyone have a phone number so we can phone them to ask when the payment due our
Zoe says
This is the contact number (0330) 045 0685 and this is the contact email contact@nsfclaims.co.uk
Greg Neimke says
Finally received my decision today from Norton Rose Fulbright.
Not happy at all as there is no change and appears no way to take any further. Reason for the no change decision is ‘there is no new eveidence’ produced by me regarding my appeal. Really didn’t need any new eveidence in my opinion as a sent all relative bank statements highlighting numerous pay day loans and constant state of overdraft. Oh well good luck everyone
AmigoAmigoYeeHa says
The issue isn’t bank statements – this does not show the affordability.
Key documents are Credit Reports (Equifax, Experian/TransUnion) these would show the whole affordability and show how much debt you had (Inc payments) per month.
When it’s bank statements you have to remember that there is no way of proving that the Payday Loan payments were yours and not you were paying on someone’s behalf – crap I know.
Documentation is key – the saying Less is More does not apply when it comes to finances.
Statements
Credit report (Multiple)
Subject Access Requests (for other debts)
Are all great for proof.
If you have any loans, credit cards, catalogue, HP – Set up a reminder to download and save your credit reports every 3 or 6 months and save to Google – just incase, another big claim comes about.
Zoe says
Goodness, I am expecting the same then as I provided nothing new, only my DMP which I had to enter because of it. Thank you for the update hopefully we will all hear back soon.
Terry says
I also received my decision from Norton Rose Fulbright today. Status ‘Adjudicator Rejected’. Not enough evidence provided being the reason. I provided plenty of evidence I believe – statements, links to my credit file entries, breakdown of loans and other debt I had outstanding at the time.
Anyways, for those waiting on movement, it appears they’re finally moving on these.
Zoe says
My appeal has been rejected. I have also received my letter today, assuming a batch has been sent out. Shame as I had one claim upheld and a loan I took out 2 years later rejected, which makes no sense. But at least a line now under this all.
I am due around £500 if 24% – could be more – fingers crossed But positive news is that those awaiting payment – that finally decisions are being made and that hopefully a final percent and date payments will be made will be no later than August.
Greg says
I felt quite miffed that my letter was sent to ‘To Whom it may concern’
Just rude really
zoe says
Although a generic letter, I agree to not address this to the claimant is poor practice. I will be curious to see if anyone has been succesful and if so on what grounds.
Paul Nicholson says
Good morning Paul, Thank you for your message. The adjudication process is indeed nearing completion and compensation payments will be paid around August of this year. I hope this helps and many thanks for your patience. Best wishes
z says
According to the last report:
We will provide afurther update in our next quarterly report (before 21 July 2024), or within 10 business days following the completion of the adjudication process, whichever is sooner:
As the 21st is a Sunday, latest we should hear is 19th July, with the final percent payable and date.
The end is in nigh….
Dan says
Thank you for your email.
We are still working towards getting payments out to you all during August 2024.
Unfortunately, as we don’t know which payment list you will appear on, we cannot give a more definite date than we have already advised.
The next communication from us should be at the end of July 2024, which will give you the actual percentage figure we will be paying out to everyone, and the amount of your claim value you will be receiving.
Apologies, but we cannot give a more definite answer at this time, the above is what we are working towards at present.
Kind Regards,
Su
Kel says
I rang and was told aug
Charl says
Wow, I was looking to see if there was any more info on this and glad I found this forum with more recent info. Seems like it’s been forever to wait, mine was upheld more or less straight away last year when it first actually came around and my end figure was £7,286.82. So I’ll be getting 24% I assume of that. Which is great for me as I was young and dumb, ended up getting in debt and getting an IVA to clear it all off but this loan in particular I had actually paid off myself in full as they couldn’t include it in my IVA and I only had a couple months left on it when I started the IVA. Now my IVA is complete & over! So glad I’m entitled to a partial amount of this back at least, let’s hope the ball gets rolling asap
Stephen says
I can almost guarantee you won’t get 24% of it.
Redress claims never end up being close to the quoted amount.
Charl says
Minimum they’ve stated is 24 percent though? So how can they go back on it?
Dan says
I had in writing the other day the % will not be lower than 24% – the money has been kept separate from the rest of the business which is still operating.
Charl says
Hi Dan, yes me too I’ve had a couple of written messages now stating it wouldn’t be lower than that! Here’s to hoping
Steve says
First it was April then June then august you can bet your bottom dollar that nobody will receive anything until we’ll into next year .this will just run and run .some of us will be dead by the time we get resolution.they are clearly playing for time .surely we should get 8% interest on our pay out while it’s delayed not just up the point of claim acceptance.
Zoe says
I was sent this yesterday:
Good afternoon, As there are still claims which require an outcome we are unable to give an exact date as to when payments etc will be made. At present we are still forecasting August and will be in touch as soon as we can.
Not looking promising….
Charl says
Hi Zoe,
I received this:
Good morning, I hope you are well. At present the adjudicators are working through the appeals they have been sent, once this part of the process has completed, we will be able to communicate percentages etc. With regards to payments, we are still working towards the forecasted August payments. Kind regards
zoe tunmer says
Its the words “working towards” they used similar language before and then delayed it. It doesnt give any assurances. Next report is due 21st this month, so that means probably Friday 19th as they must report by then. We will no doubt be told then if any more delays plus hopeful they may be able to give na actual timescale and percent!
David Keirby says
I got same response
John C says
Why would they be playing for time? Just curious as to why you would think this? The money is in an account, its ringfenced, so can’t be touched, with the exception of paying out on refunds. Although the terms of the arrangement state the 8% interest stopped at the start of the scheme effective date, the £14m would likely be earning some kind of interest, which would be added to the pot. Adding 8% to everyones claim, would only benefit those who’s claim is from a longer date, rather than more recent. The % split would just reduce, as the £14m wouldn’t change, except through interest on it. The longer it goes on, then the more the pot would grow, but I don’t see where anyone at NSF / Everyday Loans, gains by dragging this out, unless i’m missing something?
J says
Just received an email today saying the adjudicator rejected my appeal. I wasnt asking for money back just the rest of the debt written off. Is about 543 and despite all the information I uploaded think is a bit unfair this decition.
Sonthe next now for me is just keep paying my debt management plan (DAS in Scotland) I suppose. :(
Sara (Debt Camel) says
How many other debts in your DAS could you make affordability complaints about? Not just loans but credit cards, overdrafts… see https://debtcamel.co.uk/tag/refunds/ for templates to use for different types of debt.
Holly says
Can you actually make complaints towards debtors while on a debt plan? I pay towards a DMP and worried that it could be cancelled or the debtors would ask for the money upfront for complaining, I took a lot of credit out all at the same time which I’m not shocked was given, but never thought you could complain whilst paying them on a DMP.
Sara (Debt Camel) says
yes you can!
Winning affordability complaints is a very good way to speed up a DMP, see https://debtcamel.co.uk/7-ways-to-speed-up-a-dmp-so-it-finishes-sooner/
When was your everyday loans taken out?
Holly says
I was so worried that my debtors would cancel my dmp for making a complaint, my everyday loan has been upheld through the scheme but I took loans out with RBS, who was my bank who could clearly see I was always in my overdraft and taking out alot of credit. So if I was to make a complaint they couldn’t just cancel my dmp?
If so, thank you for much for this.
Sara (Debt Camel) says
No they can’t. How often were you in the overdraft – all or almost all days of the month? For how long?
Holly says
I was in it for over a year maybe two years, couldn’t get myself out of it because I got myself into such a mess, thank you for the advice Sara I really appreciate it
Sara (Debt Camel) says
You could look at an overdraft affordability complaint too: https://debtcamel.co.uk/get-refund-overdraft/
Claire says
Latest reply I received from NSF claims team today.
Good morning, Claire,
I hope you are well.
The payments are forecasted for August in the range of 24%-31% of your total claim value. You should receive a communication which confirms the payment percentage by the end of July/early August.
Gemma says
We had all those promises up to two days before they announced payments had been put back to August.
Don’t rely on the funds coming next month.
zoe says
I agree, they are saying they will notify end of the month/early Aug, but they only have until next Friday before they MUST sent the next report. So this will hopefully give timescales and percent. But I am expecting them to delay another three months, as I had correspondence this week that not all the adjudication appeals have been dealt with yet, I hope I am wrong, but as you say this has happened before.
Charl says
Even so, they said by the end of July / early August that we will have our estimated payment percentage which says they are at least getting further than before. Let’s hope eh.
John C says
Well i’m going to think a bit more positive. The last update was due the on or before 21st April (Sun). It landed the 16th (Tues), although dated the 12th (which was a Friday). Tomorrow is also Friday 12th, so crossing fingers the update is published then, and visible at some point in the next few days. If (and its a big if), they follow with what they published in April, then they could have a % available. If this is the case, then payments must be paid within 15 business days of that publication of that % number
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
If this isn’t published till the 19th (as we expect), but still has the % published, that would put payment around 9th August. If they don’t have a % by then, this will be very disappointing, and payment would land later. Can’t see too many appeals still to go through, as there have been 3 months to adjudicate the 1k
John C says
Actually realised I got this slightly wrong. The front page update was dated the 12th and posted on the 16th on NSF website. The document update, was dated the 16th and was available from the 19th.
Dan says
I emailed today asking any update regarding appeals and got the good old response saying payments forecast are august bla bla bla , so I responded and said that’s just an auto email and not an answer to any questions I asked, and this is the final response
Apologies, this is the latest update.
The appeals are now complete and we are waiting for the letter to come out.
Kind regards,
Martin
Scheme Support Team
Everyday Lending Ltd
p:
03300 450 685
a:
Epsom Court, First Floor, White Horse Business Park, Trowbridge, BA14 0XF
w:
http://www.nsfclaims.co.uk e: contact@nsfclaims.co.uk
John C says
If that is actually correct, then they have 10 woekinf days from completion of final adjudication to share the %, then 15 working days after that to pay out. Encouraging
David Keirby says
Hopefully we find out this week with good news
Charl says
Received this as of this morning:
Hi, Thank you for your message. We are still on track to make payments in August 2024, so please look out for our next communication at the end of this month which will advise the percentage figure all will be paid on. Once the communication has been received, which is end of this month (July 24) the payments will start being made, so I would say early August 24.
Kind regards Su
Dan says
I also had comms this morning that the appeals process is done and they’re just waiting for the final % letter to go out.
Looks like we’re nearing the end.
Charl says
Fingers crossed Dan, my claim has been upheld since it first came around last year, feel like I’ve waited forever, but glad I am going to get at least something back for when I was young and dumb! Definitely learnt from my mistakes to say the least
Leanne says
Does anyone else keep checking the NSF website everyday to see if a new report has been issued yet or just me lol?
Really hoping we hear by the end of this week
Ryan says
You are not alone on this ! also checking this thread for updates frequently, fingers crossed the new report will be available by Friday for an update.
John C says
Well strangely the Jan report was due before the 21st and was dated the 19th, but wasn’t visible on the NSF website till the 21st (Sunday). After looking into April and thinking there would definitely be something posted this week (as that was dated the 16th, but posted the 19th), I went back through all the comments, and first mention of the Jan report was the 21st. There should be sight of it by Monday at least
David Keirby says
I’m exactly the same lol, roll on knowing eh
Ella says
Everyday…! This forum has been great for info though so thank you all.
Wayne says
Same here ha
Ellan says
When is the update officially due does anyone know ?
Kieran Hargan says
I sent the following to NFS this morning and their response is below. At least they have confirmed that the next report will be published on 21 July 2024 but they gave no indication of whether or not it will contain details on percentage or payout date.
Are you in a position to advise when the next Scheme Supervisors Report is scheduled to be published? The last report stated that it would be delivered within a month of 21 June 2024. Can you also advise if it will contain information on the percentage payout to customers and ultimately when customers will receive their redress amounts? I am aware that the standard line is that payments are expected around August 2024 but would expect something more definitive at this point given that the 1061 appeals have been dealt with or is it the intention to prolong the issue as much as possible as seems to be the case to date.
Response – The report will be published by the 21st July as you have indicated. Unfortunately we are not privy to the contents of the Scheme Supervisors report prior to the publication so I am unable to advise on the contents.
Ellan says
Ahhh thanks xx
Kellie says
So we are all logging on on 21st! Thanks for checking. 😀
J says
Another rejected at appeal stage, very disappointed but nothing I can do about it now.
I don’t think you’ll have long to wait and I haven’t heard of anyone having the appeals overturned yet.
Charl says
By the 21st of July so let’s hope it’s posted tomorrow!! Really hope we all get this soon, we’ve waited long enough
Stacey says
Hi can any advise if its only a percentage of our upheld value as im sure I ready extra 8% for something or other but can’t remember what it actually said.
Thanks
John C says
8% interest was calculated up to the start of the scheme and will be included in the total value of your claim. There will then be an X% of this total paid out
Lynsey Jones says
So no statement as of yet ! So does this mean that we will have to wait now until next week sometime.
Tom says
Not sure if they publish on weekends, technically they have until Sunday. If not I would guess they are waiting until the last moment today to avoid a barrage of calls/emails today and can prepare for them on Monday!
John C says
The Jan report was due on the 21st, it was dated the 19th, but wasn’t visible on the website until the 21st, and that was a Sunday
KH says
The April report stated “It is not possible to provide an updated estimated dividend rate or final payment date until the Scheme Adjudicator has adjudicated the appealed claims. We will provide a further update in our next quarterly report (before 21 July 2024), or within 10 business days following the completion of the adjudication process, whichever is sooner”
Its hard to know where they are at as nothing has come out yet about the dividend or final payment which could indicate that either the adjudication of appeals has not finished or they will include this information in the report due by 21 July 2024.
Laura says
This is the response I received when I asked about the date, as it’s a Sunday…
Hi, Thank you for your message. We are not privy to the publication date although I understand the deadline for this is the 21st July 2024. Apologies, we don’t have any more specific information for you. Kind regards Su
Leanne says
So the deadline for the report was today yet there’s no update on the website so what happens now? Will they be fined for not following the timescale?
Sara (Debt Camel) says
It will probably come out in the next few days. No they wont be fined.
Doubting Thomas says
There’s a difference between when the report is published and when it is placed in the public domain.
From previous reports it’s approx 3 days so 24th July from the deadline date.
You’ve also got to take into consideration the global issues concerning CloudStrike, which has impacted companies from little shops to big well known brands, NHS, airports & Governments.
If they are impacted then it’s out of their hands as to when the report will be in the public domain.
Ryan says
Completely defeats the point of a deadline. All other reports were dated 2/3 days before the deadline . Fingers crossed for tomorrow, I can see there phone lines and emails being extremely busy .
Marc says
Every report has come out on a Monday when the deadline has been the day before on the Sunday. The reports have all been dated for the Friday (the last working day before the deadline). So they’ve been late on every report and they’ve always put the date as a couple of days before the deadline.
This time around is no different to any other time.
Doubting Thomas says
They haven’t been late.
The report needs to be completed by a specific date.
There is NOTHING that requires them.to make the report public before or on that date.
Laura says
We will get the % but will we receive interest as well, does anyone know?
John C says
The % figure, will be a percentage of the interest paid, and the 8% added up to the start of the scheme. There is only £14m (and potentially any interest gained in the year its been in a ringfenced account). Adding further interest won’t add any benefit to anyone, as it will all come out of the same pot. The value of your claim, will include the interest up to the start of the claim. Should be split out in the email you would have received when our complaint was upheld.
KH says
Clause 5.6 of the Scheme of Arrangement states:
“Variation of time limits
Where the Scheme Supervisors certify that it is in the interests of Scheme Creditors or the efficient operation of the Scheme, ELL may, by publishing a notice on the Website, extend any of the time limits in this Clause 5.”
This would appear to give ELL carte blanche to do as it pleases, albeit with the approval of the Scheme Supervisors who to date seem to be in no hurry to have the Scheme concluded. I hope that it does not turn out to be the case that something will appear on the website shortly stating that there has been a further delay as that most certainly would not be “in the interests of Scheme Creditors”. As far as the “efficient operation of the Scheme” is concerned I think that there is a case for stating that the operation of the Scheme has been anything but efficient to date!
KH says
I telephoned NFS this morning out of curiosity but not expecting to get any definitive answers. I was informed that they were not sure why the Supervisors Report had not been published as as far as they were aware this was due yesterday. They were also unable to confirm that all appeal cases had been adjudicated. They said they would check on both these points and respond by email. I am not holding my breath waiting for the response but will share the reply if and when it comes. They did say that it was expected a letter would be issued “at the end of the month” informing customers of the percentage payout. This Scheme of Arrangement has been in operation for over a year now which in itself is unusual as most schemes of this nature are completed within 6 months of the deadline for making a claim, which in the case of NFS was 31 December 2023. It appears to me that the only beneficiaries so far are ELL which under the terms of the scheme is able to continue its lending business and of course the Scheme Supervisors, Grant Thornton UK