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. Simon says

    I got my email to say I will get £59 from a nearly £2000 balance. They said they will pay some of it (£500+) towards what I still owed them but all my loans were paid back in full – bunch of crooks.

      • Simon says

        Yes I disputed this but they pretty much just brushed me off and repeated the same again.

    • Georgina says

      I had the same, around £500 going back to loans from 2010, I’m sure they would have been paid as so long ago or I would have had debt collectors chasing me but have no way to prove it now, mines similar £60 for £1918 less the outstanding loans

    • Richard says

      I’m getting £14.92 of just over £800 because they said I still owed them £500 from 2019 of which I know is a complete lie because all my loans we’re fully paid

  2. Jon Taylor says

    Hi Sarah,

    Just waiting to hear from Moneyshop as nothing just yet in terms of payment, but they have plenty of time left based on the information they provided for payments.

    A separate one regarding lending stream. I made a complaint last week and they have sent me an SOA. The loans date back to 2010/2011 and the lending pattern is as per below. Based on the number of loans, the pattern of lending and the date of the loans, would you say I have a fair chance of a refund on some of them?

    Borrowed Date Loan Amount
    07-07-2010 150
    08-07-2010 100
    23-08-2010 315
    11-10-2010 95
    11-02-2011 315
    07-04-2011 135
    01-07-2011 105
    08-08-2011 165
    05-09-2011 85
    05-10-2011 315

      • Jon Taylor says

        Thanks Sarah – fingers crossed – this website has been a massive help!

        Just out of interest, is there a set time period you are unable to make claims from – for example loans dated 2008 and earlier? Or 2007 and earlier

        • Sara (Debt Camel) says

          April 2007 is when the law changed and affordability complaints can go back to then.

          • Jon Taylor says

            Thanks Sarah!

            Final question – When the lender comes back with an offer, will they include simple interest? Or is simple interest only applied when you reject the offer and the complaint is upheld by the FOS?

          • Sara (Debt Camel) says

            If they are making a “goodwill” offer 8% interest is not normally included. If they are calculating redress then it should be included but some lenders don’t.

  3. RM says

    The article says 4.3p per £ but going by some of the settlements quoted here it’s more like 4.25 Doesn’t sound a huge difference but it does matter when we are getting so little back anyway – it’s about £100 difference on a 20k settlement. Where is that missing money going?

    • Sara (Debt Camel) says

      can you give a link to one that is too low? Some people may have only given rough amounts.

  4. Annie Goodfellow says

    The Money Shop
    To
    Anne Goodfellow
    3 Jun at 11:05

    Fantastic very nice surprise email. Has come good as there word and really well set out how arrived at figure debt gone and redress of 449. 00 I thought I would be waiting till end June thank you Sarah again will donate 59 to perth cab. My sis is a lawyer and did cab for yrs before she retired amazing orgabisation

      • Annie Goodfellow says

        It’s money I wouldn’t have had otherwise and another debt wiped I wldnt have know about unfair lending and had redress from providebt solely cis of you Sarah and hopefully the biggy re log book loans even if they don’t agree with adjudicator I’m convinced ombudsman with the evidence adjudicator has provided he will uphold even though will take mths will be worth it in end million thanks again will let u know what happens re log book one

  5. Annemarie says

    Just had my email payment within 7 days .hang in there guys yours will come .thanks to sara for a great forum. All the best to everyone.

    • Ross says

      Got my email finally more than I was expecting!

      We can confirm that we will pay you 4.31p for every £1 of cash redress

      Applying this ratio, this is your calculation:

      Potential Redress Amount £ 28580.39

      Actual cash payment to you £ 1231.81

      Next Steps:

      Any payment due, will be paid to the latest bank account we have on record, which you entered in the Customer Claims Portal. We expect that this will be within the next 7 days.

    • Dean says

      Finally got my email today!
      Payment to be made within 7 days apparently as per the below. The end is nigh people so just stay patient and keep positive. A special mention to Sara for all her outstanding work and guidance to support us all! It is thanks to her and her website that many of us managed to get redress payments (some of it substantial) and clear our credit files.
      “ Next Steps:
      Any payment due, will be paid to the latest bank account we have on record, which you entered in the Customer Claims Portal. We expect that this will be within the next 7 days.”

    • Ken says

      Well got my email this morning and saying will be paid into my account in 7 days and once in I will be giving it to the a nhs charity

    • Lisa G says

      Just Received this email today…

      Further to our confirmation of your upheld claim in the Instant Cash Loans Scheme of Arrangement, we can now provide you with your final payment value.
      Your Claim
      We explained previously that the Potential Redress figure would be the maximum amount payable. We have calculated the proportion of redress due by sharing the fixed amount of money in our Redress Fund equally across all customers whose claims we upheld under the Scheme.
      We can confirm that we will pay you 4.31p for every £1 of cash redress
      Applying this ratio, this is your calculation:

      Potential Redress Amount£ 8417.77  
      Actual cash payment to you£ 362.81

      Thanks for all of your help through this Sara xx

  6. James M says

    Until discovering this site, I cynically believed the scheme may have been a scam (even wary of entering my bank details in portal). I think it maybe a fitting gesture to make a donation to our local CAB offices.

    I was a compulsive gambler & to be honest, would have signed to repay £500 for a £100 loan! Such was my problem. Betting companies seem to be more aware of the big problems inherent in gambling. There are many helpful & non-judgemental charities out there to offer sound advice & help. When I began owing ‘loan sharks’ £££, I realised it was time to seek help. I have much sympathy for those who were caught in the vicious cycle of loans to pay other loans, purely to pay bills and buy food. Stay safe.

  7. Annie Goodfellow says

    Really easy to understand fully explained clearest communication since start of this process just copied main part re redress
    3 Jun at 11:05

    Dear Anne
    Further to our confirmation of your upheld claim in the Instant Cash Loans Scheme of Arrangement, we can now provide you with your final payment value.

    Your Claim

    We explained previously that the Potential Redress figure would be the maximum amount payable. We have calculated the proportion of redress due by sharing the fixed amount of money in our Redress Fund equally across all customers whose claims we upheld under the Scheme.

    We are now able to confirm that we will be using your redress to reduce your outstanding debt to Instant Cash Loans. This is important to you because your outstanding debt will be reduced by the full amount of your redress, whereas a cash payment would only be for a proportion of that amount.

    We can confirm that we will pay you 4.31p for every £1 of cash redress

    Applying this ratio, this is your calculation:

    Potential Redress Amount £ 10808.57

    Outstanding debt at 9th October 2019 £ 370.00

    Redress left after balance cleared £ 10438.57
    Actual cash payment to you £ 449.90

    Next Steps:

    Any payment due, will be paid to the latest bank account we have on record, which you entered in the Customer Claims Portal. We expect that this will be within the next 7 days

    for me the best of all credit rating will now improve .and debt free

  9. Krishan says

    Can I ask if people have been paid or received an email about their amount owed so far if at any point their debt was passed onto bw legal? I know they are not accepting any redress amount as part of this scheme so wondering if they are treating these customers last in terms of refunds?

      • Krishan says

        Hi, I did owe prac/bw legal but paid off my debt to them in full in May 2020 before I had my offer of redress so I have no doubt I will not see that back now! I just wondered if the people who have been paid or an email saying payment incoming have actually any dealings with prac/bw legal as they must have some logic in regard to these batches and not just a free for all!

    • Maria says

      Mine was passed to BW legal and I am yet to receive an email or payment – not sure the 2 are related as the outstanding balance has been deducted despite this from potential redress and all payments have been calculated.

      • Krishan says

        If it’s random they must do a lottery every few days and just select people out of a hat 😂 of course it’s not random! What kind of logic is that?! It’s obvious grounds for huge mistakes to happen. If they had a system like sort it out so the people with the highest redresses were paid first then work downwards or vise versus or alphabetically by surname etc that just is a logical way to do things. You could easily sort out those columns in an excel spreadsheet, contact the customer up to a certain amount or place on the alphabet then remove those from spreadsheet once contact has been made and payment sent.
        The reason I think they are treating people connected to prac/bw legal last is because of the fact they are not accepting the redress and therefore assume that these customers are going to be most prone to complaints. Knowing those are due to be paid last it’s as though they haven’t got to be dealing with complaints throughout the course of these batch payments potentially slowing them down!

        • Annie Goodfellow says

          My debt was passed to prac I have had my email this morning and posted it on here so your comment I don’t think is reason just wanted to let you know in case that reassures you

  10. Marlon James says

    Just received my payment, wow 😎.I’m happy
    Thank you Sara for the regularly updated

  11. Leah Wilson says

    My original email from them was a redress of £5k something, and potential money owed to me was £553, they then said i had this mystery outstanding debt of £123 which would be deducted (i questioned this cos i knew nothing about it) but they confirmed it still exists. So ive had my email today which states after theyve taken the £123 to pay the loan off, money owed to me is £220. Somehow this doesnt add up as the original figure was £553 so surely minus £123 is £430? Do you think theyve made an error or do you think this is right? Been trying to contact them all day they never answer the phone.

    • Sara (Debt Camel) says

      can you copy out the email you have had today please? Not the standard bots at the bottom.

  13. Pete says

    I received email on 21/05/2021 detailing amount of £145.53 that is payable but to date have not received payment. Has anyone else had a gap of this long between email of amount and the actual payment crediting?

    • Matthew kinch says

      I received my email on the 21st at 09:23, I’ve not had a penny in my account yet either.

    • Sue says

      Pete, I also received my email on 21st May stating my payment ampunt but as yet, still no payment into my Bank Account ☹

      • Lyndsey says

        I also had a email the same date and time.
        I’ve not recieved a penny as of yet.
        Its confusing because my email.said within 28 days but others are having it in 7 days.
        Just a waiting game.really.

        • Pete says

          Thanks. At least I’m not the only one! Yeah I noticed some were getting email saying seven days but mine was 28 days, much like yourself. It’s a wait and see.

  15. Kayleigh says

    My debt was sold towards legal but I’m now on a debt relief order does that mean I wont get anything? They estimated it to be £1643 had no email oy the last one which said some redress will be paid towards my outstanding loans but if I’m on a dro what happens? My dro finishes dec this year.

    • Sara (Debt Camel) says

      so you have a debt to BW Legal of £1643 in your DRO?
      If that is correct there is no reason to complain to them – that balance is being written off in your DRO and that is the most you could get by complaining.

      How much are you expecting back from ICL?

    • Kayleigh says

      The debt was sold to be legal but not sure how much. But like you say it’s being wiped. Money shop estimated me £1643 redress but said £149 and £175 will be paid towards my loans I had in 2009. I’m just wondering with being on a debt relief order and my debt being wiped would I be entitled to anything as I’m still waiting for money shops email about payment thanks.

      • Sara (Debt Camel) says

        yes you should still get the payment from the money shop. This is a “windfall” for your DRO so you have to report it to the Insolvency Service but as it is going to be under £1000 this will not effect your DRO.

  16. Chris says

    Glad people are starting to get emails etc. I haven’t had anything from them since the one saying claim upheld not even one about portal closing. They never replied to my emails either looks like just a waiting game now see if I get anything at all

    • Candyce says

      I’m exactly the same, last email was last year about the redress and loan being upheld. I’m just praying all the details I gave them have saved correctly.

  17. Kats says

    i also received an email on 21st May detailing amount, saying will be paid within 28 days not received payment as yet.

    • Matthew kinch says

      Not just me then, I think it’s quite strange we’ve been told 28 days, but seems people are now being told payment in 7 days.

      • Alex says

        All the 21st May people, I also received email same time. So I emailed them and got the generic email and then called them today. I was told by the lady on telephone today my payment was processed yesterday.
        Then I recieved an email to confirm that this afternoon that it was processed 2 June 2021. I do not know if I reminded them or it had already been processed but will let you all know when it drops in my bank.!!

  18. Andrew says

    Sara, I really appreciate all the advice you have provided on this webpage. Not just how to claim but managing everyone’s expectations and at times liaising with administrators, etc.

    I have a further query I was hoping you could help with. I have now received my email from Money Shop, which shows my calculation as:

    Potential redress – £8,814.57
    Less o/s debt (not disputed) – £560
    Balance of redress – £8,254.57
    Cash payment (£8,254.57 x 4.31%) = £355.77

    I’m wondering about the tax deducted from the interest included in the potential redress. The potential redress figure of £8,814.57 (above) is made up from:

    Interest I paid – £5,555.67
    8% interest compensation – £4,073.62
    Total redress in decision in principle letter = £9,629.29
    Tax @20% on £4,073.62 = £814.72

    Q. Why has the cash sum been calculated AFTER tax was deducted from the compensation interest?

    Q. Have the administrators actually PAID the sum of £814.72 to HMRC on the interest element?

    Q. In view of the tax free allowance people get for deposit interest, do you think I can reclaim any income tax back from HMRC? If so, should I be able to claim the whole £814.72?

    Q. Will Money Shop’s administrator provide a tax deduction certificate?

    Please supply a web link or address to enable me to make a donation to Citizens Advice?

    Thank you.

    • Sara (Debt Camel) says

      Why has the cash sum been calculated AFTER tax was deducted from the compensation interest?
      The aim is to establish what someone would have received from an upheld claim outside the Scheme, and tax would have been deducted there.

      I suppose a decision to use the gross amount before tax deduction could have been made. This would have meant that people with old loans benefited very slightly and people with younger loans would have lost. But the same amount of money would have been divided up in either case.

      Have the administrators actually PAID the sum of £814.72 to HMRC on the interest element?
      no. There was no separate pool of money to pay this tax from. All the money available has been divided up between the customers at 4.31%.
      Also tax can only be due on a payment actually made, not on the redress number calculated which has not been paid – this is a notional tax figure not a real tax liability.

      In view of the tax free allowance people get for deposit interest, do you think I can reclaim any income tax back from HMRC? If so, should I be able to claim the whole £814.72? Will Money Shop’s administrator provide a tax deduction certificate?
      no, no and no – this tax has not been paid, there is nothing to claim back.

      You can donate to National Citizens Advice here https://citizensadvice.enthuse.com/donate#!/ or even better google for your local Citizens Advice and donate to them – each local CAB is a separate small charity.

  19. Rob says

    Hi all.

    I just received my refund. 13 days after being notified it was going through.

    4.31p in the pound in the end.

    Better than nothing.

    Thanks Debt Camel and others who covered this – very useful.

    • Canaan says

      if you were in the first batch of payments that commenced 24th May 2021, the actual number of working days up to 3rd June is: 8 days as we had the bank holiday weekend; so it is within the time period that they said, give or take a day

  20. Alex says

    We can confirm that we will pay you 4.31p for every £1 of cash redress

    Applying this ratio, this is your calculation:

    Potential Redress Amount £ 6092.57

    Outstanding debt at 9th October 2019 £ 332.82

    Redress left after balance cleared £ 5759.75

    Actual cash payment to you £ 248.25
    Dearest Sara.
    Sorry to ask for your help but do you know what the above means in terms of what I will receive? Is it stating I will receive £248.25 or will I get 4% of that amount? The above is a section of an email I received today. I would be incredibly grateful if you could help make sense of that please. If you can’t then I would also just like to say thank you for everything you have done. I was reading this forum when I was waiting for my Wonga payout some time ago and just by simply coming here every day, while waiting, and reading what people said helped me feel not so alone with it all and you made that possible. X

    • Sara (Debt Camel) says

      No problem, this is what you will get ===> Actual cash payment to you £ 248.25

      • Alex says

        Hey Sara. Thank you so much again and thank you for responding to my ‘comment’. I also have to say this and that is the fact I’m going to receive £248 is not life changing but it will certainly change my life for the rest of this year in a positive sense due to my current financial situation. Ok the original amount was close to £6 large however it was simply a number for me as I knew that I would never receive even close to that. I also didn’t think I would receive close to £248 so I feel nothing but gratitude about this process now. Please understand I’m simply talking about how I’ve felt and how I feel and not how I believe anyone should feel. Peace and love to you my brothers and sisters of this forum. X

  21. Lee sharratt says

    So. Out off 5k redress. I will be getting my 200 pound in the next 7 days . Suppose I’m delighted. But just glad the sorry mess is over. Waiting all this time. Such as

  22. Von says

    What’s the best way to contact them? Worried I might have put my details in wrong 😫

  23. R says

    My bank is informing me of my payment coming in at 00:01 tomorrow morning. Hope you all get it first thing tomorrow too 👍

  24. Steve says

    Hi

    Please advise what SOA relates to in these matters.

    Another lender has advised that they will provide me with this.

  25. MM says

    My redress was £5,041.13 and the actual amount I’ll receive £217.27 – scandalous! Why are these companies allowed to get away with it and offer loans that do not consider affordability. Going into liquidation is an easy way out and no doubt when all this is sorted they will start up a new business under a different company name and do the same thing all over again. Why as British citizens are we not being supported by the ‘powers of be’ and the Financial Services Compensation Scheme (FSCS) – do we have a right to ask for a review of their decision, or are we able to appeal to the FSCS – a collection submission from us all will have more clout than one or two of us appealing? Do we need to ask Martin’s Money Saving Expert for support in promoting the decision? People have lost hundreds of thousands of pounds in redress and we are expected to take it on the chin! As you can probably tell, not happy at all!

    • Marcia says

      Hi MM… I haven’t had my redress as yet still waiting. I do agree with you this is high way robbery as we all work too hard for our money and should be refunded all that is owed. I believe we should get intouch with Martin for his support and advice into this matter.

      Marcia.

    • Charlotte says

      I agree, I’ve had my email and less than £50 out of £1400 potential redress, an absolute insult!!

  26. marcia says

    i was told that payment will be made into my account ending of may am still waiting.

  27. Csmith says

    Hello All,
    Was expecting payment in 28days time as stated on the 21st May email, however payment came through today 3rd June at 21:00hrs.
    Goodluck to everyone waiting and thanks to Sara for giving us hopes.

    • Lyndsey says

      After receiving my email on the 21st of May. I have just recieved my refund. Atleast I can get my weekly shopping with it.

  28. Sara L says

    Received my email on 1/6/21 and just checked my bank account and it has been paid today

  29. Chris says

    Hi All,

    To help with understanding the timeline for people, I received my email on the 21st May and have just received the payment into my account circa 10pm today.

    Being split between local CAB (for all the hard work Sara does on the this site) and my local RSPCA as voted for by my 2 rescue dogs.

    Hope you all receive good news soon.

    All the best

    Chris

  31. Grant says

    Still nothing from moneyshop… no email since saying portal was being closed. However I received payment from my Sunny loan redress…no warning… no email…just appeared anyone else got sunny (elevate) redress back?

  32. Lynne says

    Money is there guys. So I got the email Tuesday money in bank Thursday night/ Friday morning.

    Fingers crossed for everyone waiting.

    • Brian says

      Hi all. Had my email few days ago and it’s been credited to my account today

    • mark says

      Hi All
      Received my email Tuesday afternoon and money is already in my bank this morning

  34. Doreen says

    Is anyone communicating by snail mail and if so have they heard anything about payment.

  35. Amanda H says

    Received my email on Tuesday and money is in the bank this morning. Finally

    • Suzanne says

      I’m still patiently awaiting my email too. I did speak to a lovely lady a few days ago as they started emailing start of May with just one of the claim numbers but she confirmed that they had linked them together but did confirm that all payments were on track. Guess I must be back of the list 🙈😂 haha. Will keep you all updated x

      • Jill says

        I think I must be the same as I’ve not received an email or any payment yet. Hopefully won’t be too much longer :)

        • Suzanne says

          Hi Von, I rang them although I was on hold for about 30 minutes before I was able to speak to someone. I only rang just to clarify whether they my accounts had been linked together as I was getting a bit worried. Now I’m patiently waiting for the email to come through.

        • Faye says

          Hi I just spoke to them and the basic conversation was all payments will be made by end of June. They couldn’t tell me when I would get mine but said I would receive an email with the amount due a few days before payment would go in the bank, also couldn’t tell me what the final payment would be…so no point ringing or emailing it’s just a waiting game now.

    • Amanda says

      I’m still waiting on my email , I’ll probably be last knowing my luck 😅

  38. Hayley j says

    Got my email Tuesday. The money hit my account today. Was due £4,600 something. Got £199 back. I’m just glad this is finally done and I won’t need to be checking emails etc. It it worth noting all the emails I had went into my “junk” folder. So people saying they haven’t received an email be sure to check your junk/spam folders!

    • Jane C says

      I received my payment this morning, received e-mail Tuesday. Also got one from Sunny which I wasn’t expecting and don’t even think I bothered to apply for?

  39. Lyn says

    I’m finding it very strange, I’ve had no email but my son has who used money shop years after me
    Could someone let me know why this is at all please

  40. Ash says

    I didn’t get the email to advise my funds had been processed but recieved £148 today. Also got my money back from Sunny today aswell.

    • A says

      Good day for you then!
      Pleased people are being emailed and paid.. just wish I was one, heard zilch!! 😕

  41. Kim says

    Hi all,

    I received the email confirming the amount I was going to receive on 21st May 2021. The email said we expect that this will be within the next 28 days. I checked my bank and the payment went in this morning. Just a bit of hope for everyone that payments are going in just need to be patient. The payment went in 2 weeks exactly from when got confirmation email. Good luck everyone 😁

  42. Davis says

    Hi Not sure if anyone knows the answer…With PPI there was always a part that was taxable (interest I think). Is any of this payment taxable.? I tried to email the company but all I got was no tax is being deducted. I only got just over £30 repayment, I just want to make sure there is nothing further for me to do.

  43. David lee says

    My total claim was 196.00, how much will I receive I’m no good with numbers haha, bout 10ish? No email or nothing yet tho.. cheers

  44. Lisa says

    Guys I received my money today, I received my email on Tuesday.Thanks Sara and I will now try and claim back money from other company’s, Sara could I ask a favour?

    I saw a list of companies and emails next to them to complain about lending.where I can I find this list again?☺️ Xx

  45. Karen w says

    I’ve got a payment from sunny this morning of £16.06 but nothing from money shop at least I know they got my bank details correct. I’ve had no email other than telling me claim upheld and portal closed

  46. Sarah says

    Hi I received my email on 21st may stating I would get £254.99 woke up this morning and that is in my bank !

  47. Canaan says

    amazing, i received my email confirming my redress amount of £ 404.69 on 1st June 2021. Just checked my account today 4th June 2021 and my bank account has been credited.

    thank you for all the support Sara; I still have one outstanding pay day loan and this will help. Everyone else be patient. So glad that this moneyshop matter is done and dusted.

  48. CJ says

    I’ve been patiently lurking here for months following the goings on and whatnot. Still no payment from MS (I remain hopeful and patient) but Sunny dropped £10 in my account today after telling me I wasn’t entitled to anything…. my partner, who hadn’t ever contacted them about getting anything back also recieved £15. Happy days!

    • Lynne says

      That’s a bit strange your partner got something back without ever contacting them? Good though!

      They told me I’d only had one loan for £500 back in 2014 so weren’t upholding my complaint. Thought I’d borrowed more than once but hey ho.

  49. Marcus says

    I still haven’t received any communication from them as of yet, I’m guessing that so many customers are due a refund so emails are not sent in a specific order, myself and others that are still waiting for an email. I can see this going all the way to the end of this month. But the main thing is that it gets resolved.

    • Al says

      Like everyone else I received my £16 from sunny this morning

      I’m also waiting on the money shop.
      I’m guessing there is still such a backlog of payouts. But it it’s wrong that they haven’t updated us at all of any potential delay.

      Are they keeping the larger payments till last possibly. As I was due over £10000 which works out around £632.

      • Sara (Debt Camel) says

        it’s wrong that they haven’t updated us at all of any potential delay.
        My guess is that would be because there isn’t a backlog and there isn’t a potential delay.

        They are not keeping the larger payments until the end.

  51. Sheila says

    I’ve just received an email saying I’ll have payment within 7 days.
    Things seem to be speeding up.

  52. Dave L says

    Finally had my email today , getting £212 back worse than the nearly £5000 owed but better than nothing

  53. Emma says

    Hi
    I’ve also received my email today.
    Not sure if there is any order to it but my surname begins P and my redress amount was (£12k) actual to be paid £500.
    So maybe alphabetical or by redress amount.
    Might be just totally random though.

    • M Campbell says

      I am sure Sara said it’s not alphabetical. It’s Random. I am glad people are receiving the monies. I’m still waiting on an email

    • Suzanne says

      Think it’s random, my surname is a C so definitely not by that haha. Keep my fingers crossed that I may be a lucky one to get my email today 🤞🏻

  54. Maria says

    Finally got my email literally just now at 12:13. Mine is relatively larger. Payment of £629.
    Was adamant I’d be last so I’m so glad! Fingers crossed for everyone else. The end is close

  55. Faye says

    I’ve just this minute received my redress email hopefully some more people will get theirs today good luck everyone

    • Mike says

      After sending them an email earlier this morning, I have just received an email confirming the figure Sara told me. Payment within seven days.

    • Elaine says

      Just got an email 10 minutes ago payment within next 7 days. Thanks to everyone for all your comments and hope everyone gets a email shortly that is waiting. Good Luck

    • Stewart says

      Same here. Next 7 days.

      Hope everyone else gets confirmation sooner rather than later.

      Although still not impressed with the (lack of) Customer Service.

      Thanks to Sara for this site. I know I have made other posts that were very negative, but the lack of news was getting to me a bit too much.

  56. Suzanne says

    Happy days I have just received my email 😊 hold tight everyone it seems they are now moving pretty quickly with their emails out to people 👍🏻

  57. Linda says

    So I’ve just received my confirmation email of total redress and now they state they are deducting £194 for an outstanding balance in October 2019!!
    I don’t owe them a penny and only ever used the cheque cashing month to month, neither was this mentioned in the portal in any communication- how can this be?!?! I hadn’t used them since 2016!!
    Beyond angry!!!

    • Sara (Debt Camel) says

      Go back and say you dispute it because you didn’t owe them anything.

      • Linda says

        Thanks Sara, I have sent an email, I wouldn’t mind so much as I’m due a refund of £1289 so what’s £194 in the scheme of things ( yeah work out how much I could have had) and I suppose I should be grateful for this but it’s just insult to injury, guess I’m worried it will hold up my payment!! :(

    • Maria says

      It’s not a debt from Oct 2019.
      It’s an outstanding balance from anytime that wasn’t cleared by OCT 2019 – which is when they closed and began the scheme.
      So could have been from 2015/2016.
      I think all emails say ‘“As of,Oct 2019 the outstanding balance is…”

      • Linda says

        If I used the cheque cashing and payment was made in full every month from the cashing of those cheques and I stopped using them in 2016 when the final cheques were cashed then how can I have an outstanding balance?!?

        • Sara (Debt Camel) says

          did you also borrow money from Payday UK, Payday Express or Ladder loans?

          • Linda says

            No, nothing at al only ever Money Shop! Bad enough I got caught in the cycle of borrowing using the cheque cashing, thankfully managed to get debt free so this is like a final insult after everything! Never mind I’m sure they will realise their error & resolve it! Thanks for all your help and advice, hoping everyone hears something soon x

  58. Jonathan says

    I received an email today saying that my redress is expected to be paid in 7 days. The amount was as I had worked out thanks to the information Sara has provided on here. I guess it was just a waiting game and lots of patience. I also received a small sum into my account today from Sunny, which I had totally forgotten about, so that was a bonus. I hope everyone gets their redress emails soon, and once again, thanks to Sara for all of the information and guidance. Thankfully I am debt free now, and the payday loans were from a few years ago when times were tough. Never again!

  60. Neil C says

    Hi
    Does anyone know what happens if the money is paid into an old account not in use? I updated the bank details on the portal twice as 1st time for some reason it didnt update & when I’d called them months ago they still had old bank account details. I updated again & looked like it saved ok but still bit worried itll go to wrong account.
    With the Portal shut how can I check my bank details are correct, is there still a working email address or phone line to enquire on?

      • Ann says

        I emailed them about this and got a generic email back telling me as the portal had closed they couldn’t check but if the money gets returned from the bank as account closed they would reissue the money

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