Instant Cash Loans (ICL) is sending emails to the 2.6 million previous customers of Money Shop, Payday UK or Payday Express headed:
IMPORTANT INFORMATION
INVITATION TO CLAIM: SCHEME OF ARRANGEMENT IN RELATION TO INSTANT CASH LOANS LIMITED
These are being sent over the next few days, so don’t worry if yours hasn’t arrived yet.
The email explains that the Scheme ICL had proposed is now live. It says:
If we lent to you irresponsibly or your borrowing was unaffordable or unsustainable, it is possible that the interest or other charges you paid were unfair. So if you are concerned about any of the loans we provided, we’re inviting you to submit a claim.
That may sound complicated, but it’s very easy to send in your claim:
- go to the Claims Page and enter the eight-character Reference Code at the top of your email.
- that sets up your account. You can then see the contact information ICL have for you and correct it if necessary.
- then press ‘Submit Claim’.
- that’s all! You don’t have to give any details about your loans or why you think they were unaffordable.
- Don’t go through a claims firm or they will take a chunk of your refund just for doing this.
Claims must be submitted by 9 April 2020.
ICL will then:
- assess every Claim and calculate the compensation. All your loans will be considered for compensation, including those over 6 years.
- when all Claims have been assessed, ICL will work out what percentage of the compensation will be paid. This will depend on how many people make Claims, see below.
- ICL expects to make payouts under the Scheme by the end of 2020.
Contents
Background to the Scheme
ICL had two million customers, with three big payday lending brands:
- The Money Shop was once Britain’s largest payday lender on the high street. The Money Shop stopped making payday loans in August last year.
- Payday UK and Payday Express were two large online lenders. These both stopped making new loans in October 2017.
In summer 2018, the number of affordability complaints about payday loans increased significantly. Paying refunds on these complaints forced Wonga and Wageday Advance to go under.
In the last half of 2018, ICL received 45,000 complaints. So ICL has been facing escalating costs in the last year and it has been closing shops. Now the business is being closed completely because of the cost of these complaints.
A Scheme of Arrangement is a legal device which limits a company’s liability to its creditors. ICL is using this to limit the amount it has to pay out.
The Scheme was approved by creditors in September and by the Court on 8 October 2019.
Who can get refunds & and how much might they get?
The regulator says that a loan is affordable if you can repay it without hardship and without borrowing again. Millions of payday loans were unaffordable. And that includes a lot of the loans from the Money Shop, Payday UK and Payday Express.
The more loans you had, or the more you rolled over a loan, the more likely it is that your loans were unaffordable.
If you were given a loan which was unaffordable, you can claim a refund of the interest you paid.
On August 14, ICL said that it expected to have enough money to pay out nearly 80p in the pound. But in September it admitted that:
- it has decided to include all loans over 6 years which may reduce this to c. 44p.
- it has decided to simplify the assessment in favour of the customers, which may further reduce this to 27p.
- if twice as many people apply for a refund, this may go down to 14p.
These numbers can never be exact. If the extra customers who apply all have a lot of loans over 6 years, the final figure could be lower. But if the extra customers only have a few recent loans, the final figure could be higher. And, of course, more customers could apply than ICL’s latest guess.
My first thought when I saw the 80p in the £ estimate was “and pigs might fly“… see Will the Money Shop really pay 80% of your payday loan refund? So I am pleased ICL has provided better estimates. I can’t tell how realistic they are.
FAQs about the Scheme (updated 18 October)
I will be keeping these up to date when more becomes clear!
“Do I have to submit a Claim as I have already complained?”
No you don’t if you had an open complaint with one of these lenders when the Scheme was proposed OR you had an open complaint at the Financial Ombudsman. Here your complaint will go automatically into the Scheme without you having to submit it again.
Yes you do if ICL rejected your complaint or you had rejected ICL’s offer and you did not have an open complaint at the Ombudsman. Here you have to submit a Claim now.
“I already had a refund but it didn’t cover loans over 6 years. Can I claim for them?”
Yes, you can put in a Claim if you had a settlement from ICL previously but you think more loans should have been included.
“What if I don’t get a letter or email from ICL – can I still make a Claim?
Yes – you will need to provide some details (address, postcode) to register your account, then you can Claim.
But first, check your spam folder! The email with your reference code could be in there, which makes registering even quicker.
“Can I send a complaint to the Financial Ombudsman?”
No. This would be a waste of everyone’s time as FOS is not going to look at the complaint.
If you don’t like the decision ICL makes about your Claim, you will be told how it can be looked at by the Scheme Adjudicator instead – this is not an adjudicator at FOS.
If you think you have a very unusual situation, leave a comment below this article and I will try to suggest what you can do.
“Will loans be deleted from my credit record?”
ICL will be correcting people’s credit records. They may just remove negative marks, but it’s likely they will delete all loans which their Claims Assessment decides were unaffordable.
“I am still paying a debt collector for one of these loans, what should I do?
This is complicated – I will come back and update this later.
“I’ve changed my bank account – what should I do?”
When ICL informs ICL will give details of this later.
“How much are we likely to get paid?”
See the section Who will be able to get refunds & and how much might they get? above for ICL’s thoughts on this. The number won’t be known until after all the claims have been submitted and assessed.
“Is there anywhere else we can get the rest of our compensation from?”
No. The Financial Services Compensation Scheme (FSCS) covered people making PPI claims if their firm had gone bust. But the FSCS doesn’t cover payday loans.
Did you borrow from other lenders?
If you have borrowed from other lenders, you may be able to get refunds from them.
Read How to make a payday loan affordability complaint which explains all this and has free template letters that have worked for thousands of people.
Updated October 2019
Refunds from Provident & other doorstep loans
Get a refund from a guarantor loan
Refunds from large bad credit loans
Vicky says
I’ve had an amount given to me from wonga and wageday but they said now where near what I will get, I’ve had emails from money shop but they haven’t given me an amount of what to expect is this still to be decided
Sara (Debt Camel) says
yes.
Ed says
I’ve had a complaint running with ICL since late last year (re: a dozen or so PDUK loans) and had an ongoing case raised with the FOS, yet to my knowledge I didn’t receive any emails in July / August on this matter – it could’ve ended up in my Spam but I’m usually pretty good in checking that on a daily basis. Bottom line though is I’m not entirely confident that they’re aware that I exist.
Should I just sit tight until the scheme kicks in and submit a fresh claim or should I get in touch with them right now?
Sara (Debt Camel) says
Wait. When the Scheme is live, a new Claim page will be set up.
EDIT: here it is: https://www.themoneyshop.com/Claim
Martyn Everatt says
Hi
Do we know what happened at court with this was the scheme approved
Sangria Monster says
It was approved, yes.
Sara (Debt Camel) says
yes. The page above has now been updated for this.
Ross Barker says
I tried to make complaint against paydayuk a good while a go they never responded to my request for statement info
Have I missed the boat on putting in a claim or will these scheme allow me to put in a claim
I have never received an email regarding anything on this from payday uk
Thanks in advance
Ross
Sara (Debt Camel) says
You should be allowed to put a Claim in to the Scheme.
Ross Barker says
Sorry Sara where do we does this?
Can this been done now or do we wait on outcome of scheme, if the latter will a link be posted as I doubt I will receive email directly from payday uk
Thanks
Ross
Sara (Debt Camel) says
There will be a Claims page set up.
EDIT – here it is: https://www.themoneyshop.com/Claim
Sara (Debt Camel) says
The proposed Scheme is now live.
I have updated the article above with what is known.
I have added some FAQs – as i know what lots of you will want to know! there are some large gaps in them at the moment.
cyrilv says
OK… so my original claim against PDX was rejected and sent to the Ombudsman about six weeks before PDX/PDUK/Moneyshop went under. What’s the next step now the scheme has been approved? Not expecting much but would rather like to see the default wiped – as it was with my successful claim against PDUK which went in at the same time as the one that failed against PDX.
Sara (Debt Camel) says
You need to wait until the details of how to submit a Claim is published.
Sara (Debt Camel) says
The Claims Portal is now live. go to https://www.themoneyshop.com/Claim
N says
If i have not yet complained to PayDay UK – can I put in a case via this once the form is up and running? Thanks in advance.
Sara (Debt Camel) says
The Claims Portal is now live. go to https://www.themoneyshop.com/Claim
Gary says
Portal is open
Sara (Debt Camel) says
thanks! Article above updated.
Gary says
Sara you are welcome!
You put in the reference (8 digits xxxx-xxxx) from your emails received previously and then update your personal details and that’s it sit back and wait.
I’ve not yet received any email from them but I believe these will be out by the 19th.
Sangria Monster says
Hi,
I spoke to one of their call centre people yesterday and the claim site is definitely open, it isn’t a mistake or testing or anything like that.
If you haven’t had an email, you can get to it from the moneyshop website, and as Gary says, just use your code from the previous emails.
Good luck!
Ljc says
Is the 8 digit reference from the fos or from the money shop?
Sangria Monster says
From the ICL/The Money Shop, not the FOS.
If you haven’t had an email or letter from them with the code on, I’d suggest giving them a call on the number on their website – they can check who you are and then give you the reference code over the phone or register the claim on your behalf.
Beware though, I’m hearing that it’s taking a while for them to answer calls due to the number of calls they are getting.
Ljc says
Thanks sangria monster
I emailed them and within half an hour they emailed me back with the reference code
Lee sharratt says
Are people receiving emails from moneyshop?
Sara (Debt Camel) says
they will be! Have you had one?
Lee sharratt says
No not yet. I voted. Is that the reference number on the email They first sent?
Sara (Debt Camel) says
I guess so – put it in and see if it accepts it!
Lee sharratt says
Thank you very much
Sangria Monster says
It is the same reference I’ve had on all emails and it worked for me, despite me not yet receiving another email from them.
Ricky says
Hi Sara,
I had a payday loan with Payday UK who fall under the MoneyShop. As you know MoneyShop will be paying out late 2020 to some customers (I have already registered myself onto their portal. However Payday UK sold the debt to BW Legal who are no chasing me for the debt.
Do I tell BW Legal that MoneyShop will be refunding customers money? Any way I can stop BW Legal?
Sara (Debt Camel) says
did you just have the one loan from Payday UK?
mark says
i complained to this company 1 month before they went under…. on the day they went under they turned down my complaints in total contrast to all other lenders who have paid me either redress or compensation….Am i precluded from claiming via this portal that has opened? thanks
Sara (Debt Camel) says
No you can now put in a Claim.
mark says
thank you…
Fred says
what really frustrates me about this is if I do actually recieve any thing from them it would be they would agree to the reasons I’ve been complaining about them for years ::(
‘Why you may be eligible
You might be a creditor of ICL because you have taken out a short-term loan with ICL or one of the companies which it owns in the past, so it’s important that you understand how to make a claim under the Scheme.
We believe that in the past, we may have behaved irresponsibly in lending to some of our customers and if you were one of the customers affected by this, you would be entitled to redress.’
We’re not pre-judging the outcome of any claim; we’re simply contacting all the customers who may be affected, to explain the next steps.
Sara (Debt Camel) says
is this an email you have just received?
Tamara says
Hi
Anyone has a problem submitting the claim on Moneyshop portal ? I registered, but I get stuck on first page, I marked option ”no” -I’m submitting for myself, and after pressing continue – I get ” error -You have not provided all the information required – but there is no more question!
Any suggestion ? Thanks in advance for any help.
Have a nice day all :)
NJG says
I get exactly the same so will call at some point. I have had redress but not on all loans as for each of the 3 companies involved they wanted further bank statements for 3 different periods so technically am due something, so don’t think it’s cos I’ve already received some money.
david says
Had an email this morning advising me that further to the vote I am to submit my claim to them and pay-out will be by May 2020.
Not really sure if there is any point, I think I’d only get around £18 if its 5p in the £!
Leesharratt says
So. Had emails from moneyshop and registered on the portal. So all good. No point worry or spectulating What we will or won’t get. Just sit tight and ride this out.
dazza says
can someone please clear something up,
I had PayDayUk loans and I went through the Ombudsmen and I won my case I hade m Redress from PAYDAYUK of around £2000 back to me,
I have received the Moneyshop letter with my Reference, My question is even though I have Had ALL my Redress back from PAYDAYUK ( this was the only company under the Moneyshop umbrella.
So I am confused will I still get some sort of Redress from MoneyShop under this Scheme thwy are talking about, as I have had a letter to register on there website and entered my reference, will I still get money from them Even though I was satisfied that I had A redress from PAYDAYUK all settled,
I am Just Confused but excited will I get another redress from Moneyshop,? Even though PAYDAYUK paid me the Redress and that was the only loan I had under TheMoneyShop ??
Grateful if anyone can explain to me, any advice is appreciated, As I have my hopes up that I am due some more refund from Moneyshop
Bonnie says
No you won’t get another payout unfortunately, I had this with Wonga as in I had a payout for redress in 2016 then got the email from Wonga administrators saying put your claim in, i then got-an email saying complaint not upheld as already been compensated . Hope this helps 😃
Sara (Debt Camel) says
The Wonga situation was rather different as the 2014/15 write offs were sometimes large in relation to a normal affordability refund and sometimes small. Sone Wonga customers have had large refunds now calculated, others – like you – had a rejection.
Sara (Debt Camel) says
There is only one situation where you are at all likely to get more – that is if you agreed to loans over 6 years not being considered todpeed up the FOS case. These older loans will be taken into account In the new calculations so then you could get more.
But otherwise you are not going to get the same money again, this time “from the Money Ship”. ICL always was the parent company of the three brands. That us who you got the compensation from before and that is who is now planning to compensate new claims.
dazza says
Sara and Bonnie
Thank you so much for replying , I will take it that I will not get anything, but if I do anything will be a bonus
Thanks guys
dazza
ian bland says
Hello, just touching on the Wonga situation. Ive had an email saying they are giving me some money back and they have stated it will be significantly lower which I accept is normal with the process they are going through. Whilst I understand as well that its not going to get paid out until next year has there been any indication given to the value in the £ that they are going to be paying out? Do they have large values of cash to refund customers? Im not sure what kind of situation they are in. Thanks
Sara (Debt Camel) says
Lots of chat about this over on the Wonga News page.
Lee says
Hi can anybody offer any advice defending a claim from BW legal,
I have received a county court claim today for £248 and don’t know how I can defend it?
I had the payday loan in April 2013 so over 6 years but had been paying BW legal £5 per month for the outstanding loan.
Can I defend this claim in any way? Does anyone have any experience of dealing with BW legal after receiving claim letter? I’d much rather pay than have a CCJ?
Thanks
Sara (Debt Camel) says
Did BW Legal send you a letter Before Claim/Action recently? This would have had several attachments, including one labelled Reply Form?
Who was the payday loan from and had you had other loans from them as well?
Lee says
Thanks for reply Sara, I did receive letters from them, the last one was a final default notice but I have not received a letter before claim?
The claim form is stamped from Northampton court and looks serious :-(
The original creditor was payday express, they have added solicitors fee and court fee as well as £43.20 statutory interest.
Sarah says
I had loans from the money shop and payday UK, will the one claim cover both?
Sara (Debt Camel) says
Yes it will.
(I suppose there is an exception if you, say, borrowed from the Money Shop in 2009-12 and payday uk from 2015-6 and you had moved and used different email addresses between the periods of borrowing.)
Sarah H says
Hi Sarah i received a letter yesterday asking for my to login and apply for the scheme using the reference number on the letter. Thanks Sarah H
Sarah says
I had an email so I completed it, I’ll see what happens next year!
Sarah says
I’d found out via email, in my junk folder! Glad I check it to be honest cause I don’t usually
Christopher says
Hi, I’ve just registered with the portal today. The problem I have is; I used paydayUK at one address, then I moved and started using The Money Shop (I’d actually go into the shop, not online), the claims portal only asked for 1 previous address which would detect the moneyshop loans but I am concerned the paydayUK loans will not be linked to that address. I feel like I should be making a claim against each trading name, rather than just one to the moneyshop
Sarah says
Isn’t there an email address/contact number where you could add the details on using the reference so they link
Elliot says
Hello, I have an outstanding balance with BW Legal of £284.00 which i have been paying out for a while.
My question is do i stop these payments as i know i will be entitled to a refund from ICL as i had quite a few loans with PaydayUK and Payday Express?
I’d much rather have the balance written off than the smaller amount that the majority of us will receive.
Thanks
Sara (Debt Camel) says
If you are going to get a refund assessed by ICL, then you are right that it is going to be best to stop paying BW Legal now.
I can’t tell if you will have a refund assessed obviously…
If you want to do this, just stop the payments and tell BW Legal in writing (email is fine) that you are disputing the balance as you have put in a claim to the ICL Scheme (I assume you have already done this).
Elliot says
Hi Sara,
Thank you i will do just that. Yes i have put in a claim to the ICL Scheme.
I have had quite a few successful compensation claims already from Payday lenders for irresponsible lending (also a claim accepted by the wonga administrators) so i am quite confident ICL will also be compensating me!
Thank you once again.
CJ says
Hi Sara
I have submitted a claim to ICL. I took out several loans from both PDUK and express. I believe I have a good case as other lenders have upheld my complaint in similar circumstances.
The issues I have is ICL sold my defaulted loan to PRAC and BW have initiated county court proceedings for £1550. I have defended the claim stating a complaint with ICL is ongoing but they have proceed and completed the courts directions questionnaire. I have to complete the form myself if I wish to proceed and plan to request a mediation.
I thought they would place the loan on hold until my complaint with ICL was completed. Is there any other way I can have the court proceedings placed on hold
Sara (Debt Camel) says
Did ask them to put the debt on hold and inform them if your complaint to ICL before they issued the claim?
Did they send you a Letter Before Claim/Action before they started the Claim?
CJ says
Yes they did send an LBA. I didn’t respond and then received court forms. I hadn’t logged my claim with ICL until after they had submitted court forms as ICL said they couldn’t accept any complaints until a decision on the scheme had been issued. I then logged my complaint (last week) and advised BW of this but they intend to proceed.
Sara (Debt Camel) says
Well it’s shame you didn’t say on the LBA reply form that you disputed the debt.
I can’t advise on a court case in progress, so I suggest you talk to National Debtline on 0808 808 4000 and/or the Legal Beagles forum about your options now and whether you can get the court case “stayed” pending the assessment of your Claim by ICL.
Andrew says
Hi I’m currently paying off a couple of ICL payday loans (paydayuk/payday express). I’ve registered on the scheme and phoned bw legal to say I think the loans were unaffordable. They basically said I must keep up payments or they will seek legal action and add more costs to the debt. If I pay off the debts would I be entitled to the money back if the loans were classed as unaffordable. Thanks
Sara (Debt Camel) says
Can you leave this with me for a couple of days?
Andrew says
Yes no problem. Ive actually got bw legal to put my accounts on hold for 30days. I’m really struggling to find an answer on this. Surely if the loan was unaffordable then the debt shouldn’t be recoverable? Thanks
Sara (Debt Camel) says
How many loans did you have with PDUK, PDExpress and the Money shop before these last two defaulted loans?
ICL will be assessing your Claim. If you only had these two loans, you are probably not going to win this Claim… If you just had ta few before these last ones then it may be decided the last two were unaffordable, but there won’t be a refund from the earlier loans. And if you had loads of loans then you could have a very large assessed claim.
So it’s going to be hard to say much until that is known. In some situations your Claim isn’t going to help you reduce the BW Legal debt at all, in others you might be able to get interest removed so you only repay what you borrowed , and in others it maty be possible to get a “set off” if your claim is assessed at a large amount…
If you tell BW Legal now that you are disputing the debts with ICL, then they should not start court action. BW Legal are regulated by the FCA and the FCA’s CONC 7.14.1 rule says:
(1) A firm must suspend any steps it takes or its agent takes in the recovery of a debt from a customer where the customer disputes the debt on valid grounds or what may be valid grounds.
So tell BW Legal you have put in a Claim and ask them not to start legal action, quoting CONC 7.14.1.
Cross letters don’t matter. But keep an eye open for a Calaim Form from the court or a Letter Before Action/Claim from BW Legal. This is the precursor to starting a court case. too many people think it’s just another letter and ignore it :(
Read https://debtcamel.co.uk/letter-before-claim-ccj/ so you know what one of these looks like, then if you get one, send it back with the “I don’t know if I know this debt” option AND at the same time put in a complaint by email to BW Legal saying you informed them the debts were in dispute and they should not be threatening to start court action.
But the question now is whether you should stop paying them any money? How much are you paying a month? how large is the remining debt? And how big do you think your Calim with ICL may be? bearing in mind you don’t normally get a reund for the first few loans.
Peter says
Hi Sara
So I had a loan from Moneyshop in 2012 that got sold to BW, who registered a CCJ in 2017. I didnt find out about the CCJ due to moving houses and have now paid off the CCJ in full.
With this news about Moneyshop, my loan was likely irresponsible lending / unaffordable, and I have received their link for the scheme above.
My question is, can I get the CCJ removed from my credit record, in light of the original loan being marked as irresponsible lending / unaffordable?
Thanks
Kim simpson says
Hi Sara,
I have today revived a letter of claim from bw legal for a payday loan from payday UK (original date of loan was November 2015)
In the letter they offer the dates of when the loan was opened, when it was passed over etc but no mention of requesting to see the original credit agreement. With all this going on, should I dispute, asking for the CCA, or that I have put a complaint in with payday UK, or both?
I obviously don’t want this to get to ccj point and would normally just make an offer of repayment, however the amount I could afford to repay means it would be a long time before I would be free of it.
Thank you so much for all you previous advice on this, its been eye opening!
Sara (Debt Camel) says
Have you already told them you have made a complaint to Payday UK?
Did they send you a Letter before Action/Claim?
MM says
Hi Sara/all
I was a ‘victim’ of these pay day loans & Wage Day Advance :( aftr so much frustration I did receive acknowledgement to submit that redress form (April) which I DID bfr deadline & I even spoke to the cust service who advised that received etc
On Sept I received another email that I jus see NOW in my spam-saying I have missed the claims form submission date of extended 14th Oct! Fuming as this is such a lie, & can’t now prove that I completed/sent/spoke to cust service about it last year!! What can I do now, & wonder if others Hv also got this (clever) email as to avoid any payment!!
Sara (Debt Camel) says
Which lender are you talking about?
MM says
Wage Day Advance
I got the redress email (April) that I sent back but now I’ve received this; & they state I missed the deadline!! That I did not.
…”on 25 February 2019. CTL formerly traded under the brands Wage Day Advance and Juo Loans.
Customers who were identified as being potentially entitled to redress from CTL, using CTL’s Claims Calculator, were contacted by the Joint Administrators to inform them of their potential claim in the administration, by email.
We note from our records that you were identified as being a customer potentially entitled to redress. However, we have not received your redress claim form.
Sara (Debt Camel) says
ok, you have posted on a page about the Money Shop, which is why I asked.
So when did you submit the Claim and why did you phone them up about it? how much money was the Claim for?
MM says
I submitted the claim form, same time I received it (think during April) defo before it’s stated deadline. At that time, as redress amnt was £783. I was keen to process asap & hence called up (& emailed) the stated cust service number (aftr much delay) phn was answered & they CONFIRMED on phn via my ref nmbr that claim is “submitted” & they b in touch for payouts/2020.
Now send me above telling lies. 😤🤷🏽♀️
Sara (Debt Camel) says
Wageday Advance is set to payout about 5p in the £. So the final value of this is likely to be less than £40.
Their customer service calls will be recorded, so if you can find when you called them from your phone records, then you can ask them to look at the recording.
MM says
Thank you for this info: yes 💔 that from £783 be lucky to get bout £40🙄that they still Mkn difficult! But will check phone records.
Thank you Sara
Gdnite
Alex says
I am still paying a debt collector for one of these loans, what should I do?
I borrowed money from paydayuk and paying now to BWlegal. any advise you can give to me? I paid 652£ from 1432£ what was at the beginning,so still owe 780£ Paying 30£ monthly
Sara (Debt Camel) says
How large was this loan? How many previous loans did you have from the Money Shop / PaydayUK / PaydayExpress?
Alex says
I borrowed 1000£ for a year, but did not pay even first instalment to them. they pass my loan to BWlegal (1432£) with interests and fees. On my credit file they registred late payment which one now is up to 6 month late but they not defaulted it. so every time I am pay my instalment 30£ on my report they add missing payment and payment up to 6th month late every month. so I have missing payment registred every month for 2 years already even I am pay some instalments to Bwlegal,but on report I have Instant Cash Loans account,not Bw legal. Aswell I aplly for a claim with moneyshop ,because they sent me my Code for claim. so may be I need to wait answer am I eligible for claim and they will reduce Bw legal balance? I still owe 780£ to Bwlegal. I had 3 loans from PaydayUK totally. one more question,if company registred late payment on my account and this late payment is now for 2 years already,is it better late payment for 2 years or would be better if they defaulted my loan? if I pay off all balance it will de satisfied or settled,if you close late payment acc. Thanks
Sara (Debt Camel) says
so this is your 3rd loan from Payday UK?
how much interest did you pay on the other two loans that you have repaid?
Alex says
around 250£ before and 432£ for the last loan which is now with Bwlegal
Alex says
Waiting advise please
Ben says
I was wondering if you knew what we should do if we have a balance with ICLs? Should we stop paying until the loans have been reviewed? If we do will our credit reports be effected?
Sara (Debt Camel) says
I think you need to think how likely you are to win a complaint. How many previous loans did you have from these ICL lenders? Have you already complained?