Debt Camel

Answers to questions about debts and credit ratings - in plain English!

ICL / Money Shop Scheme ends

A first payment of 4.31p in the £ was paid in May/June 2021.

A second, much smaller payment of 0.65p in the £ is being paid on 14 or 18 January 2022.

If you do not receive this second payment, see below for what to do.

a second small payment from the ICL/Money Shop scheme

 

Background to the Scheme

This “Scheme of Arrangement” covers borrowers from the ICL brand names, Money Shop, Payday UK and Payday Express, who were given unaffordable loans.

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 wqs facing escalating costs and it was 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. See What is a Scheme? for more details. ICL is using this to limit the amount it has to pay out in refunds on unaffordable lending.

The Scheme was approved by creditors in September and by the Court on 8 October 2019.

4.3% paid in May & June 2021

A claims page was published and all Claims had to be in by April 9 2020.

The Money Shop home page said:

  • We have calculated the final dividend amount and you will be receiving 4.31p per £1.
  • Where you provided us your bank details we will commence making payments from 24 May 2021.

These payments were made by BACS. People will be paid in batches, once or twice each week through to the end of June:

  • We are unable to let you know the exact date of your payment.
  • You will receive an email before we make your payment with your calculation and cash payment amount.
  • If you did not provide us with bank account details, we have sent you a cheque.

The following details come from the March 2021 Scheme report:

  • 182,566 Claims were received;
  • the uphold rate was about 85%;
  • the total compensation people should have got was c. £340 million – now people will only get a tiny amount of that back;
  • it is now too late to submit a Claim.

No tax is deducted from the amount paid so there is nothing to reclaim.

Second, smaller payment to be paid in January 2022

After the first payment ICL was still receiving some money eg from a VAT recovery claim. This is being distributed to customers who had complaints upheld in the Scheme.

This will be 0.65p in the £. That is 0.0065% of the total redress that was calculated in your case.

This second payment will be much smaller than the first. If you got £100 on May 2021, you will get about £15 extra now in January 2022.

Customers were told by email about this on 12 January. The payments will be made on the 14 and 18 of January – your email says which date you should be paid.

Only bank transfers are being made – cheques will not be sent for this.

This second payment will be the final distribution. ICL will be liquidated – the company will no longer exist.

Was your ICL debt sold to PRAC/BW Legal?

Where you still owe ICL a balance on the last loan, this has been “set off” against your refund.

An example:

  • you should have had a refund of £2500 and you still owed £1000
  • then your balance is cleared, leaving you now being owed a refund of £1500
  • you then get 4.3% of the £1500

If your last loan was sold to a debt collector, in most cases ICL has arranged for you to still have this set off.

The exception is if your loan was sold to PRAC/BW Legal. Here you have been left owing the debt to PRAC/BW Legal and were only paid 4.3% on the redress ICL calculated.

PRAC/BW Legal is offering to reduce some customers’ balances, but see No set off in a Scheme/Administration when debt had been sold? for how you can complain and ask them to write off your whole balance.

5% in all – that is a very poor outcome for customers

When the Scheme was proposed in August 2019, it was suggested people might get back nearly 80p in the pound.

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?

And that has turned out to be spot on…

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.

By February 2020 in the previous quarterly report, the scheme administrators were warning this could be less than 10p.

So about 5% (4.3p + 0.65p)  is a dismal outcome for customers.

Why won’t the FSCS help these customers?

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. This was a very poor decision by the FCA.

Customers of the Money Shop, Payday UK and Payday Express have been let down badly by the UK regulators. The lenders were allowed to carry on giving loans that breached the affordability rules for years. And now there is no backup compensation scheme for when a lender goes under.

Updated January 2022

News about the Provident Scheme

refunds from overdraft charges

Can you get an overdraft refund?

Refunds from large loans and car finance

Comments

  1. Sops says

    Not get mine yet either , not stressing possible get payment before email ! If nothing by June end will contact them , not sure if it because I’d emailed re outstanding loans but since had email saying now disregarded!

  2. Richard says

    I’m just happy with something, I know it’s not what I would have hoped for. Will all put ourselves in this predicament, either though desperation or stupidity although the payday lenders did take advantage.

    • Christian concepcion says

      regardless how much I get from my redress. I will definitely put that money into my SAVINGS.

  3. tony says

    hi
    received the email on redress amount today
    All as expected Sara – thanks for keeping us in the loop more than can be said from the scheme administrators 😀

    • Dave L says

      Don’t worry Michelle neither have I yet . I guess we’ll get it when we get it , if there’s 150000 to pay out could take a while .

  5. Frances says

    The clear winner in this sorry saga is KPMG, whose costs (nearly £10 million) are almost half of what was in the available pot of money of £20 million, which seemed a lot at the time of voting for this scheme of arrangement, but was clearly a huge underestimate.

    I think that the available pot of money should have been ring-fenced for the redress creditors, effectively doubling the payout from 4.3p to 8.6p in the £.

    KPMG’s costs (and those of their advisors) should have been paid from other funds provided by the ICL board.

    • Sara (Debt Camel) says

      I suggest you look at the Scheme Documents which explain what the Scheme costs were spent on. Things like mailing, advertising, IT and appeal handling. KPMG’s part is not that large.
      Also there was no other solvent persons to pay these costs. There were provisions that creditors other than customers would be paid the same p in the pound as customers have received.

    • Richard C says

      I wonder how much ex-Dollar CEO and ICL “risk executive” Sheraz Afzal who sent us all a “test”email 4 times last year has been earning in the last 3 years at Money Shop, on top of the 4 years previous he 2014-18 at Dollar UK (basically ICL).
      These people should be banned completely by the FCA from ever operating in any financial sector ever again.

  6. Colin says

    Just had my email today saying I’m getting £220.01 in next 28 days
    Which originally was £5,104.00
    At least I know what I’m going to get now

    • Darren says

      I’m still haven’t had any emails since the initial one with how much my redress is and loans upheld etc…

      • Candyce says

        I’m the same, I haven’t received anything about the portal closing or anything else, the last email I received was the potential redress amount.

      • Ruth says

        I am in exactly the same boat, it worries me that other people have heard from them about other things. I’ve her radio silence since about October. Hope we aren’t forgotten x

    • Diane says

      That would make me cry 😭 I know in the grand scheme of things it’s better than a kick in the pants as they say. What sticks is, not only were these companies unscrupulous in their practices of plying their trade on the desperate and vulnerable and through these practices made the CEO and their ilks very rich before they were eventually shut down. Now having some pay back which is no where near what the low paid were excessively charged it kinds sticks in your throat a bit

  7. Bustjie V says

    I am still waiting for my email but having calculated for myself. that I am due £563.30 by my calculation out of £13,100.00 I don’t know whether to laugh or cry. The administrators of this scheme have made a lot of money, especially due to procrastination and consequently the extended length of time taken to wind up the process.

    The FCA should have been involved in ruling over this and should have limited ‘profits’ for administrators. Payday loan companies should be managed more strictly by the FCA, under the same conditions and bank lenders. It is unfair that Payday loan companies made a killing in profits but their creditors are only getting 4.3%.

    • Sara (Debt Camel) says

      due to procrastination and consequently the extended length of time taken to wind up the process.
      The only delay has been a few months caused by Covid-19 which meant a delay to payments due into the Scheme from the previous US parent company and a delay of a month or so caused by prolonged time to resolve loans that had been sold to debt collectors.

      The FCA should have … limited ‘profits’ for administrators.
      it has no jurisdiction over administrators.

      Payday loan companies should be managed more strictly by the FCA, under the same conditions and bank lenders.
      I agree. Payday lenders should be subject to much more detailed supervision and enforcement – if proper affordability checks had been made as per regulators rules none of this sorry mess would have happened.

      Also the FCA should have made provisions for the Financial Services Compensation Scheme (or similar) to pay refunds in full if a firm failed.

      • Laura says

        Hi Sara

        Just wondered if you had ever looked at getting a petition together to try and force an parliamentary enquiry in to the way the FCA should have made provisions for the Financial Services Compensation Scheme (or similar) to pay refunds in full if a firm failed. I have written to my mp as many people have and all he said was he was sorry . And he would bring it up with a minster at his next meeting. Never heard anything back . But with your platform I think we might have a chance to ask questions. It may take some time but hopefully we could all sign it and see where it goes.

        Thanks
        Laura

  8. Angela says

    I haven’t got my email as yet either but I would just like to thank Sara for the time and effort she has put into researching and sharing info on here, I’ve found this website more informative than the actual Money Shop website 😊

    • Scal says

      I was gonna be in the last batch sent out, just as they run out of money. Everyone makes mistakes 🙄🤔

      • Cyndy says

        Is anyone else checking their emails every 10 minutes. Yes I know I’m only getting about £100 instead of £2590 but this will be 2 weeks groceries. End of June just seems too far away. Definitely will have to try to forget about it and hope email arrives soon😐

  9. RJ says

    I couldn’t care less if I get an email or not. If I get my £30 which is less than half a days work. Then okay. Doesn’t bother me. FCA scam artists should be shut down also.

  10. Canaan says

    hello all,

    i believe that we should be pragmatic on this matter. there are some that claimed and did not receive any consideration for redresss. those that are on Sara’s website have mostly been given a redress amount and that being the case we ought to be grateful for receiving something.

    wait patiently and all being good you will receive what is due to you at the time that is right. when we took these payday loans for various reasons the indeed gave us; but there was inadequate due diligence.

    pay attention to those that did not receive any redress and how they are feeling and those of us that are due a redress and validate however you feel.

    patience is a virtue least exercised.

  11. lesson learned says

    Well although the amount folk are receiving is small at least one thing good has come of it that these cowboys are gone from the high street.

  12. Mac says

    We all used pay day loans to help us out when we needed them.
    Payday loans will soon be a part of history for is all and am sure we have all learnt from what we have all done and borrowed funds to get by.
    Look to the future without them

  13. Neil Crawford says

    Ceri Ann I agree totally. They never checked peoples financial status otherwise they’d see a vast amount of peoples wages were gone within 2 or 3 days after being paid or sums being paid to several other Payday companies or bookmakers etc. The information was there on the bank statements but they knew people wouldve accepted any extortionate terms in their desperation for money & the companies chose to take advantage of their situations. So yes we took out the loans but they should never have been given the green light to be issued to people in real financial trouble.
    Payday workers probably getting bonuses per loan & company/corporate greed who no doubt pushed in their daily meetings for their customer service agents to just issue to anyone no matter their financial plight, they are the real culprits here & the ones whose pockets should be emptied to reimburse all of us.
    And yes ill say it once again even though falls on deaf ears each time, I’m willing to fight on whether its petitions to govt & going to court after the fat cars even donating the pittance I may one day receive from ICL/Money Shop refund. I may have misread but was it not said theyve had to deal with 350, 000 people’s claims for the ICL/Money Shop refund? If that figure is right then can create one helluva stink n headache for govt, FCA etc.

    • Csmith says

      Excellent and well said from most comments I’ve read. Well done!
      They had all the time in the World to issued all these loans to the same number of customers before and now all of a sudden they complained huge volume to deal with.
      Very sad these people always get away with things. No amout of payouts is a lesson for them, they’ve made their millions already.

  14. kirsty says

    Hello sorry to bother you but I typed in to see how much 4.30p to the £1 is and I can’t seem to get an answer i don’t suppose you know what that means please and how much that is please cuz ive waited nearly 2 years for this please

  15. Paul says

    Hi All,

    Just to say how exasperated I am with ICL. I have been waiting nearly 2 years for my redress and have still not received further communication apart from the first letter on my potential redress and the email advising they were shutting down the portal. I’m aware that some of you have but this is seriously pushing it now. Is there a point in calling them?

    • Lynne says

      I’m the same as you Paul – potential redress letter and message about portal closing and the only other thing I got was saying I had an outstanding balance so they’d take that off my final amount!

      Still waiting on news on the actual amount to be paid, same as lots of others. Personally I don’t think there’s any point ringing them as they can’t (won’t?) tell you when you’ll get your dosh.

      • Andy says

        Have to say the guidance re when and how payments will be made is pretty clear on the MS website and on here. No point ringing them just got to wait, potentially til the end of June!

      • Ruth says

        I agree x spend the £49 on food for your local foodbank if It means that little to you. That’s not me attacking.. Genuinely thinking how much dry staple produce you could buy with that amount. It’s so much to some people.

    • Chris says

      I hear you. I’ll be getting even less than that from ICL, about £11 at the most, probably not even that as I have one loan outstanding with them which they will cover with some of my full redress, it’s possible I may end up with diddly squat. The only other one I have left after this is 247 Moneybox, which I may possibly get a better redress amount out of when they start processing but no guarantees there either.

  17. Val says

    247 money box are worse
    Twice I haven asked why in the past month they have taken 0.01 p from my bank an get a standard reply saying look on website at latest Terms jus updated which tells me nothing
    I’m reluctant to delete bank in case of payout but worrying none the less
    No idea of redress amount either just agreed they logged my claim
    I owe them nothing

  18. Me says

    We should all just be grateful that these companies are all going. I got in a right mess with these. Finally i am almost debt free thanks to this website. So my £21 i am getting back is a bonus. I’m more happy with the fact that they are coming off my credit report. Lesson well and truly learned

  19. Sara Pitt says

    Still waiting to hear. Was promised an email to be sent out last week but didn’t get one. Reading the comments I’m not getting much. Really this should be taken back to the rulings. How can they give so little back when so much was paid into them.

  20. Emma Fallon says

    Does anyone know how to work out by themsleves what they will be getting? I was owed 3,669.64 but I haven’t a clue how to work out how much I’ll really get.

  21. Marlon James says

    Hi everyone, we have waited this long ,sure we can hold on a few more weeks.

    • Lynne says

      I’m finding this a bit more bearable (if that’s the right word) than the Wonga payout.

      There was less time (8 months) between them contacting us to say we were due redress and paying it out, however they gave us the actual payout figure in January and it didnt hit our accounts until late April! Sara reminded me that they had a lot of issues with people having the wrong bank account numbers etc which held up the process, but the lack of comms was shocking.

      It seems a fair number of people on here had their emails on Thursday and Friday so I’ll be interested to see how long it takes them to get their money through.

  22. Vee says

    I think them telling us what we may be entitled to then to receive a completely less amount is the most shocking thing, yes we took loans out at our own discretion, its not a case that you should be grateful where getting money back its appalling the amount of interest they charge then headache you go through to pay back. People have lost lives, relationships, death ect. Its a joke id rather they just refunded me without telling me how much i “ potentially” could have got

    • Lynne says

      I agree. Wonga I was due £12,880 and received £550. Moneyshop £9,558 likely to be £386. Those figures would’ve been life changing so it ends up being a bitter pill to swallow taking the crumbs rather than getting the 4 figure sums. Possibly there’s a legal reason why they have to do it that way but it’s like teasing us in a cruel way.

      • Sara (Debt Camel) says

        the legal reason is that you had the right to appeal the assessment of your claim – so they have to tell you what that assessed value is.

        • Betty says

          Sara do you think at the time that if we had appealed the redress that it would have made a difference. I would have done that but was afraid that in doing so that they would have withdrawn any redress. Did anyone appeal it and got more. Just interested

    • tracy says

      well said vee, totally agree with everything you said….its cruel ,its like they saying and rubbing it in And heres what you could have had…..But you not getting anywhere close to that amount . I have to get up every morning at 4.45 and then finish at 7 to earn a bit of money on minimum wage , its only cos i was really desparate to feed me kids that i took out these payday loans. And yes we did have a choice to take these loans out but when you havnt got any money to feed your kids this is when desperate kicks in….

  23. RJ says

    Hi Sara, will these loans be removed from my credit report? I saw someome write that, so I am wondering if that is the case and will some points be re-added back on?

    • Mo says

      If you look at the Scheme FAQ’s it does say this: –
      Yes, we will remove any upheld loans from your credit file. This will be completed once you have received your outcome to your claim, but may take around 8 weeks to change.

      So they should have already been removed or will be. Not entirely sure for you. I can’t see anything to do with ICL/Money Shop on my Credit Report but this could be due to how long ago I had a loan.

  24. A says

    Does anybody know what email the emails being sent from to check folders I did all the portal stuff and updated my details and bank details then hears nothing since

  25. Amy says

    No email here either – sadly!
    Last email I had landed in my spam folder then I marked as not spam but I keep checking anyway.
    Would be nice to see some payments start landing soon to reassure us all; with the ability to view further Payments in certain banks it’s obviously not 24th which we were led to believe initially.
    Same with cheques; they’d have landed on people’s door steps by now if they were actually sent on 17th unless they’re using a one winged carrier pigeon 🤦🏼‍♀️

    • Sara (Debt Camel) says

      I think if a BACS payment is initiated on 24 May, it will be paid on 26 May. Some banks may show this as a pending payment on 25 May. So I am not surprised no-one has reported one yet.

      My guess is the cheque payments have gone to people who have not been very engaged online with the Scheme – otherwise they would probably have provided bank details. There is a real risk some cheques will be being sent to old addresses.

  26. kats says

    i had an email on Friday 21st stating what i would be paid and that it would be in my bank account within the next 28 days.

  27. CJ says

    I just don’t understand why the keep creating expectations they can’t meet. First with the redress amount, and continually with different payments dates. By saying the 24th everyone is now expecting a payment on the 24th. Which won’t happen!!

    • Chris says

      My guess is that they will start sending out some payments today as they have said but I don’t know how many they will manage to get payments out to today and how long it will take for them to get it to everyone, presumably it will continue into June which presumably means that most won’t get anything today and will have to wait for a few more weeks. That’s purely guessing, although I could be way off.

  28. Dave Webster says

    Is there a phone number to contact them as I’ve not heard anything back regarding the amount that I will receive

    • Sara (Debt Camel) says

      you should get an email before it is paid. Many people have not yet had this email.

  30. Michelle says

    Dave I still haven’t received my email with the amount I should be receiving. I am getting quite worried 😟

    • Sara (Debt Camel) says

      There is no reason to be worried. ICL have not said they are telling everyone at the start, just you will be told a few days before you are paid.

    • Dave L says

      Don’t worry Michelle neither have I still no email . I had the same with wonga but got paid in the end so all will eventually be good I’m sure.

  31. Dave says

    Im not sure why people keep trying to contact them and constantly checking the bank.. we will get paid when we get paid. its been 2 years, you cant wait a few more days? the end of the day we all chose to take out these loans, they didnt force us to have them. the fact that you get anything at all back is something in itself.

    I was stupid, i got loans out knowing the impact. i paid for it. im going to buy some warhammer with it and some fuel for the bike to go on a nice long ride. but then i went in to it figuring id just fill out the form and see what happens as anything is something.

    • Matt says

      Precisely right. If you take out the cost of employing staff to deal with all the unnecessary calls/emails we might have all got a few more p in the pound from the money that was left!

    • Kate says

      Your not sure why…isn’t it pretty obvious..why do people normally check there bank. I m glad that your not in need of anything but please be mindful and understand that not everyone is in your position. I would hope there is still people available to answer the phone..as a lot of money has be used on admin and staff wages

  32. Matt says

    I guess no one got paid or received a cheque from icl?
    They just lie and lie… They r looking for another reason to not to give the money… I don’t think anyone will see the money this year….

    • Sara (Debt Camel) says

      ICL said they will start making BACS payments today… so no-one is likely to receive one before Wednesday.

      • Neil C says

        Hi, it was just mentioned by Sara that ICL would start making BACS payments today but surely they would be informing the first recipients of how much they’d be receiving as or before they start paying the money by BACS but I’ve seen no messages from anyone saying theyve had an email stating what their payment is to be? So have they started the BACS payments & has anyone had an email today stating they’re getting paid & how much it is?

        • Sara (Debt Camel) says

          A lot of people have received emails saying what their payment will be. No-one has been told when it will be made.

          My guess is, the people who have received emails will be in an early batch. And that they will not get a second email saying payment has been made. But things will be clearer by the end of the week.

    • JR1981 says

      Sara has stated people who have probably received the cheque are most likely not on here or will not post. It’s not even the end of May yet…. let’s just wait and see??

  33. Emma Parker says

    Hi
    Just wondering if others like me still haven’t received their email yet confirming redress amount??

    • Martin says

      Folks

      Think patience is the key at the minute. I have two claims(wife and myself) under my email address and have not received emails in either. Wife did not have any outstanding debts whilst I had £50 owing. Contacted them when the previous emails were received 5-6 months back and they confirmed £50 of my redress would be offset against monies owed and once done my credit file would be reflected. True to their word the loan is now satisfied on my credit file. The company may well be sc*m but the employees are trying their best for all. Give them a bit of time and hopefully everyone will get some money back.

  34. Jr says

    Hi I see a lot of people talking on here I don’t comment but what a joke this really is I don’t know how long they expect us to wait but far too long and to say we’re not even getting anywhere near what the amount was I don’t get how they are getting away with this it’s there fault but people are the smallest amount how does that work we’re the ones who have been in stress over it and we get the least

  35. Stephen says

    I got an email confirming my redress amount and that my payout. However I have an outstanding loan. I have contacted them but no response.. I emailed them on March 20th 2021 and asked them for details on how I can use the redress to pay off the loan amount but.no reply from TMS giving details., on the phone they said I am too late and have to take the cash payout but I said I had proof Id emailed them over 2 months ago and they never responded. Another woman on their phone ;line said email proof and we will check and see if your too late.

    Now I know I was in time as I emailed over 2 months ago and I have sent them all the emails confirming this to them as per the woman on the phone lines advice but I am very worried they will just turn around and say its too late.

    My question to anyone who can help or to Sara is, what if they refuse to use the redress amount to pay off the outstanding balance even though I stated thats what I want in email for months. Is there anything I can do. as I will be in an awful position if I could of paid off the full loan but by no fault of my own end up still owing this with no redress to pay it off?

    • Sara (Debt Camel) says

      I think you need to wait and see what they say. There doesn’t seem a reason to panic at the moment.

  36. John says

    I dont think we should pester Sara about payment – give her a break -as she has already stated if it was paid by BACS Monday which takes 2 -3 days the earliest anyone will see any money is Wednesday if your bank process it straight away (they also process these payments in batches). Depending when on Monday it was made It is more likely to be Thursday. Santander for example my daughters bank seem to process them up until 1900 each day for example and make the money available straight away after 2 days whereas mine Natwest doesnt make the money available until the 3rd day.

  37. Lynne says

    I think it’s more the point that it’s the Monday after emails first started going out and seemingly no one’s got one today (as yet).

    I certainly wouldn’t have expected payments to arrive by now.

      • Lynne says

        Just maybe a continuation of that ones that started rolling out on Thursday outlining the amounts to be received.

        • Sara (Debt Camel) says

          There is no reason why these have to go out on a rolling basis, some every day. ICL has never suggested this would happen,

          It doesn’t seem to me to be at all worrying that people haven’t reported receiving these emails today.

  38. Richard Turpin says

    I received a cheque in the post this morning, hang tight everyone. This is due to the fact I closed the bank account that ICl had in file for me in April and they said the portal was closed

      • Richard Turpin says

        I never got an email. It just turned up. My wife has had an email and now has a pending BACS payment for Thursday.

          • Richard Turpin says

            Wife had email Friday. Checked bank this morning money pending for Thursday. Just heard off friend who also had email and they have the same, so looks like first batch of payments are Thursday. 4.3p in the £ is better than some have paid.

  39. Jamie says

    I recieved an email saying the portal will be closing the next day, but haven’t received anything about how much the redress will be. Would this mean I am not entitled to anything or not?

    Is anyone else in the same boat? I’m seeing a mixed bag of who got what emails.

    • Sara (Debt Camel) says

      It probably just means you are not being paid in the first batch. Lots of people have not had the email saying how much they will get.

  40. Lacey says

    I’ve not received any emails from them about what I will get finally! When will the email come?

    • Sara (Debt Camel) says

      A few days before you are paid, which will be before the end of June.

  41. Greg says

    Haven’t received an email yet and not too bothered. Reading the posts of those who have received emails, reading that they state payments to be made “within the next 28 days”. If original communication advised 3 days after email then why this latest timescale? Are there going to be more delays?

  42. Chrisbt100 says

    So I put my claim in early doors, I received my email to tell me my case had been updated and to log on to which I found what I really should have received (annoying as I had already put a claim in and had it rejected for the stupidest reason, I hadn’t tried to claim within three years of finding out I could and they said I knew earlier than I said to which I said I didn’t never mind). I believe I still have a outstanding balance to which I have not received any communication regarding this issue like many others have. I have not received an email as yet to say how much I will be getting either. I will hold on till the end of June and hopefully it will just arrive in my bank if not I will take this further. Worrying every day over something we have no control over is mentally draining guys, phoning and trying to email is also pointless as they won’t tell you anything that you don’t already know. Stay calm, stay safe and hopefully we will all communicate when we get our money back. The amount of claims I have made because of Sara’s advice is been great, so thank you for that. I have just thought of them as a very strange investment which has paid out eventually!! Stay calm and positive everyone :-)

  43. terry nicholls says

    On the Web page we’re we are told the portal is closed, there is a link for more information, first bit is the same as the email we received, but it goes on to say, they will be making payments in batches, one or maybe two batches a week

    • Jordan says

      I don’t know why they are doing it in batches. Big companies do BACS payments by the thousands when doing payroll. It should all be done at the same time.

  45. AndyAnsah says

    I’m in NZ waiting for a payout, but if it helps contextualise, we ran a process here to remediate people following a legislation change to leave pay. We only had about 4,000 people to refund, and a large team working on it. We paid in batches, and it took 3 months. A larger team would not have made a massive difference as all the checking/audit/financial checks still were centralized and had to be. So I’d imagine with 150,000 people, this will take a while!

  46. Katie says

    Well I’ve still not received an email guys, it will happen when it happens. We’ve waited so long. Yes it’s annoying but atleast it’s sorted and hopefully people will be getting there payments soon!

  47. Tom says

    How can they start paying out when people are still disputing balances? Is it possible to ask the court or another body to stop them until it’s sorted?

  48. Linda Steatham says

    I was told I would recive a letter still waiting so angrey ex when they jeep telling next week next week I am gonna give up and just leave it niw seems like its gonna be another few months before we get our money

  49. Garry says

    Garry says.
    Hi Sara
    How does Debt Camel know so much, and appear to have been given all the information which we have been struggling to get.
    Debt Camel did not take out any loans, or give the loan sharks any business.
    I agree with others about the redress delay, I am not that worried about it to be honest, just don’t know why Debt Camel has been privileged as a spokesperson, surely I.C.L should have just dealt with its customers with straight honest answers as its our business.
    Sorry if anyone thinks that I am speaking out of turn, I just don’t understand it.
    Thank you for alleviating some peoples concerns, as I guess it helps.

    • Sara (Debt Camel) says

      I guess ICL thinks the more people read the details here, the fewer people will be phoning and emailing ICL.

  50. DJ says

    What I can’t understand is how I spent 5 years working my way out of debt in an IVA to then be told by ICL that these loans are still outstanding and part of my redress will be used to reduce them. What’s the point of an IVA if the debts are then not classed as ‘closed’. I sent them evidence of my IVA completion certificate. Still waiting for the email with the final amount.

    • Sara (Debt Camel) says

      I am sorry but that is the way these things work. It was the same with PPI refunds – used to set off a debt that had been cleared in an IVA.

      • DJ says

        Yes it’s annoying Sara but I fully appreciate this is out of our hands. Just wanted to thank you for this site and all the advice you provide. It really is invaluable.

    • Brian says

      So the debt was NOT written off in an IVA. So when they state that it’s written off in an IVA. It isn’t. That’s false advertising an IVA

  51. Canaan says

    I have become a professional G-Mail, refresh button specialist; I think we just need some humour while we wait.

    • Vince J says

      If you have an iPhone just add the addresses to contacts and set them to VIP. You’ll be notified when you’ve received and email from them. I’m sure you have better things to do :)

  52. Rich T says

    Why on earth did they send me a letter saying im due back £3500 in November last year, was a great boost as I have 5 year old twins and really struggling, when they knew it was only going to be 4p in the pound. Ive written to local MP and he passed it on to the treasury. Absolutely boiled my blood. why not just say you will get £140 back. someone has made lots of money off this whilst those of us work work our fingers to the bone trying to provide for our families have been treated worse than dirt. I for one wont be donating my £140 to charity it will feed my kids. no wonder people are topping themselves while the pigs feast on the money of the poor.

  53. Jay Burton says

    As soon as the scheme of arrangement was mentioned and voted upon i thought eyup this is a big fiddle.

  54. Jenna says

    Unfortunately people were never going to get the total amount back. I was lucky enough to receive about 70% back a couple of years ago, under unaffordable. They said the other loans were affordable at the time so never paid out on them. This time in the scheme they have agreed they were not affordable. So I should have got the lot back in full the last time but I didn’t.

    No I’ll get 4.3p to the pound for the remaining amounts. I guess this is just one of the times in life when if you get in there quickly you’re lucky. Ie: before administration or schemes.

    I found out about claiming back years ago and tried to claim. The cheque centre owed me £12k and I got about 2 or 3p to the pound if I remember. Wongo was pennies too. Provident claimed they couldn’t find any details of me on their system but I’m sure they will this time round.

    I guess nothing can be done now and something really is better than nothing.

    • gary ingram says

      Amigo payed me out ….yet George Banco didn’t nor provident…..yet all were unaffordable and unaffordable unmanageable……and ombudsman is complete waste of time

      • Sara (Debt Camel) says

        You lost a complaint against George Banco at the Ombudsman? That’s unusual

        • gary ingram says

          I agree…..I was in worse financial state than when I had my amigo loan who paid out……and time it took ombudsman was ridiculous……basically took a year to be given to case worker …..who kept saying would have answer in few weeks over and over again….then few weeks b4 he gave answer asked for bank which I could not provide and then emailed decision…..useless…..

          I finished paying it last April or May

          • Sara (Debt Camel) says

            Then the problem sounds like you not providing bank statements. Sorry but the Ombudsman expects them unless the loans are old.

  55. Lynne says

    So at least some people have got pending transactions on their bank accounts then phew. And someone had a cheque arrived. No reported emails yet this week though.

    • Jay says

      I’m desperately in need of the money. No emails yet. I’m dreading it might be another 5 weeks. I want it now!

      • Chris says

        People have mentioned this but to be honest, I’ve never heard of money coming into an account showing up as ‘pending’ except if a cheque is paid in and you need to wait a few days for it to clear. I always thought ‘pending transactions’ were normal to do with the money that has been spent on your account that is being processed, like, if you pay an online retailer or pay for something in a supermarket and it will show up as ‘pending’ in your account if you have an account online that you can check but pending incoming money from a Bacs payment is a new idea to me, I wish I had that on my account, it would be nice to know when something is on the way.

        • Louise says

          I bank with HSBC and they show payments pending the day before they are put into the account to spend (I’ve just had mine today) was pending yesterday.

  56. Alex says

    Is it not a bit convenient that both Money Shop & Wonga have ended up at 4.3p to the pound exactly…?

    • Sara (Debt Camel) says

      Coincidence yes. Convenient – well hardly, who would gain from this?

    • Lynne says

      Doesn’t look like it. Although didn’t they say they’d be making one or two payments a week? In which case they might be doing the emails in batches in the same way. Who knows with these people!

  58. Eve says

    These money shop schemes prayed on people who were already struggling. Someone has enjoyed the fruits of our pain and suffering. I lived on these payday loans. I was continually renewing cheques and by the time i was paid I was broke again working full time as a lone parent of two. Earning just that little bit too much so i wasn’t entitled to tax credits but still not enough to pay the bills and feed my children. It was so hard and i was desperate. The redress is a very hard slap in the face .

  59. Rachel says

    Hi, I just wanted to say thankyou to the people that run this site.
    I copied and pasted your email you posted ( changing some bits) about unfair lending. Sent it to lending stream on 5th may. Received an email this evening offering me £545, and it was in my bank 30 seconds after confirming my bank account. I can’t actually believe it, and can’t thank this site enough. 😁👍
    Now I’ve just got to wait for the £70 odd I’ll be recieving from money shop.

    • Lisa says

      Wow Rachel that’s amazing, can I ask what section you copied for your email? I would like to do the same.I am waiting for my £500 from money shop.This website has really helped and has given so much info on this scheme

    • Adam says

      Would it be possible to post the template for this?I had a lending stream loan a while back and haven’t claimed yet?
      Thanks in advance

        • Rachel says

          Yes, that’s the template I used. I didn’t have to put in dates ( as I didn’t know them). Just added my name, address and DOB at the end.
          I couldn’t email them, but there’s a contact us link on lending streams website, so I used that.
          I can’t believe I had no other correspondence with them apart from the final offer email. Only took 29 days too.
          Hope you all have great outcomes too.

        • Alison says

          I got 1500 back from safetynet and balance cleared using a template. In fact I used the template for every lender i have ever used and in total have received over 5000 back. All were seen to be unaffordable. If you believe your loans were unaffordable I would urge you to to make complaints before companies go into liquidation, as I am sure many more will, given the number of complaints they receive. None of them took longer than 5 weeks to complete redress.

          • Sara (Debt Camel) says

            people win claims against SNC with open loans or all paid off. It is one of the easier lenders to win a case against as they can see your bank account so it is hard for them argue they did not know you were in difficulty.

          • Alison says

            Hi Colin, yes my loan was still active and as Sara said, having access to my bank account meant they could not argue my claim.

    • Colin says

      I sent lending a email asking them to look into my loans which I quite a few over time
      Had an offer of just under £2500 which I was surprised at being offered that much which off course I said yes and was in my bank within 5 mins will pay off the rest of debt and the holiday I’ve booked for January plus spending money
      Now I can start to try to do some saving for a change

      • Stephanie says

        Thank you for putting this on here. I’ve just put a complaint in with lending stream using the template. I had an excessive 42 loans with them over few years small and bigger ones totalling around £5000 I’ve just calculated. Please everyone don’t judge. Fingers crossed for an offer of any refund. Yours was sorted very quickly :)

        • Sabrina says

          I put one in with them in November last year. 2 weeks later I had the final response and money in my bank ! My mum had one with them and it ended up being for just over £10,000 which was dealt with in 2.5 weeks but the money took that little bit longer to get into her bank … think it was the amount haha.

          • Stephanie says

            Wowza if I got £5000 back i would be ecstatic lol anything back is a bonus. Fingers crossed I get a nice sum back. I don’t usually get much luck in my life so it would be lovely. How much were your mums loans for if you don’t mind me asking? £10,000? How did yours compare to the interest you paid to what you recieved back? X

        • Andy says

          Hi Stephanie nobody can judge anyone here as that’s why we are all on here so we all the same my redress figure should off been £19515 with money shop waiting for out come off quickquid £13500 wonga was £12000 and thanks to everyone about lending stream I just this minute put my letter in as that’s about £6000 was constantly taking loans to pay loan in fact at end of 2019 I had about 8 loans on the go which I’m nearly clear we just got to keep our chins up and keep smiling

    • caroline says

      i put in an affordability claim with ls for loans between 2012-2015 using the template. They replied within 21 days offered me £699.50 last Thursday which I accepted and it arrived in my account last night :)

    • Rachel says

      I sent the same template email to piggy bank loans last night, received a reply saying I’d already emailed them a couple of years ago ( totally forgot I’d emailed them already) and they said then that the wouldn’t uphold my complaint. But as a gesture of goodwill they are wiping my balance I still owe. Better than nothing I suppose lol.

  60. Joe says

    The money isn’t in. I’m not surprised. Just be weary of this site, we have been taken for a ride.

    • Andy says

      I got email saying I was getting £841.11 as £19515 redress but still not received anything yet and I’ve not seen any comments from anyone that has received it yet hopefully it will be quite soon

    • Beth says

      I think people need to calm down! I spoke to Money Shop yesterday who have confirmed everything that has been said on here. So for clarity, 4.3p in the £, we will get an email before they pay, BACS payments are going out. Please everyone stop stressing, you are making it worse for everyone! We WILL get our money, it is just a matter of time. Sara as always is doing a fantastic job, and to say “Be weary of this site” (assuming they mean “wary”) is not constructive and is totally unfair to Sara’s hard work. These companies are paying, yes it’s not the full amount we would have hoped for, but at least it’s something. And no, I am not a millionaire by any stretch of the imagination, but if it gives us the opportunity to get a takeaway then that is better than nothing!

      • Joe says

        You are absolutely right. Do not tell my wife about my spelling of wary, she’s a teacher 😬 I didn’t mean debtcamel, I meant Money shop. Bad wording again from me. Sara has clearly been amazing and the only positive through all this. We’ll get there, make mine a curry!

        • Beth says

          I promise not to tell! ;-) Yes, agree about Money Shop, but we are nearing the end, ooh haven’t even considered what takeaway yet, but will definitely be accompanies by an alcoholic beverage!

      • Chez21 says

        I agree, something is better than nothing albeit not the amount what I would like lol

    • Andrew says

      They do seem to have started paying out. I got my £107 this morning. Fingers crossed you get yours soon

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