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. Marcus says

    I would say if by the 11th of June if neither myself or others have at that point not received any communication, that would concern me a little. But hey there’s 3 weeks left in the month from next week. It kind of would be surprising if by that time no email has arrived.

  2. Neil says

    HiSara. I’ve had redress from Payday Exoress & now waiting for Payday UK but none of it mentions any loans from The MoneyShop who I thought owned Cheque Centre, I had numerous payday loans from Cheque Centre & thought it woujd be dealt with by Money Shop. Did they own Cheque Centre or am I wrong?

    • Sara (Debt Camel) says

      Cheque Centre was a completely different payday lender. It went into administration in 2017 and customers received 7.5p in the £. It has been dissolved.

      • Neil says

        Hi Sara
        So they only paid out to people who pour in a claim they didnt review all customer details?I’d never seen anything about claims from Cheque Centre on any sites or from Claims Handling companies?

        • Sara (Debt Camel) says

          2017 was pretty early for the claims companies. And before the pattern of big administrations had become set with Wageday Advance & Wonga.

          • Aaron Taylor says

            I received full redress back in 2017 from Cash Genie. They went out of their way to tell me that I was entitled to it. 4.1% from this current scheme has been pretty pathetic, but it is more than I expected, and most importantly puts another nail in the coffin of these payday lenders.

  3. Jackie says

    Got my 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 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 £ 4265.99
    Outstanding debt at 9th October 2019 £ 645.00
    Redress left after balance cleared £ 3620.99
    Actual cash payment to you £ 156.06

    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.

    —————————-
    Not sure if it was even worth pursuing, considering I had cleared my loan. 4.31p for every £1 is beyond a ripoff. It just seems it never ends. My question is, where is the rest of people’s redress funds going (approx 95p in every £)?

    • Sara (Debt Camel) says

      That money was never there. That is why it was described as “potential redress amount”. All the money there is is being distributed.

    • kim palmer says

      They had a lot more claims than they first thought they would, that took most of what they first thought. It doesn’t seem fair, but its something, I will get about the same as you, It is disapointing and I feel for the people who were banking on getting a full redress but we could have got nothing,

  4. Chris says

    Email received today – details below. tbh, didn’t think there would be any actual payment after the message about taking off the outstanding debt came out a few weeks ago so this is a case of getting more than I thought.

    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 £ 6730.01
    Outstanding debt at 9th October 2019 £ 361.26
    Redress left after balance cleared £ 6368.75
    Actual cash payment to you £ 274.49

  5. Denise says

    Hello everyone,

    I just spoke to a very nice lady at the Money Shop (Creditors) and she informed me that emails are now being sent out Monday, Tuesday, Thursday and Friday.
    The initial two emails per week has now gone up to four, so I expect that everyone will be covered well before the end of the month at this rate.
    I just thought that I would share this information with those, who, like myself, have not received an email as of yet.

    Regards

    Denise

  6. Faye says

    Got my email today, wonder when money will be in bank, as those who got emails yesterday are saying they have been paid today, can money go in after midnight…🤔🤔

  7. Greg Meechan says

    Just off the phone to ICL (35 minutes on hold, I now hate jazz music). Was looking for the potential redress figure as I had taken a note of it but now can’t find it. Was advised that as my claim hadn’t been settled they could not see this figure and I would have to wait for email.

  8. Matt S says

    Got my email today, little over £1000 equating to a £46 refund. Most annoying thing is I complained to them about 4 years ago and they rejected my complaint. Now it appears it was unaffordable but instead of a full refund only getting £46…. oh well!!

    • Kara wallis says

      So true. I even went to the Ombudsman and my complaint was rejected. It’s criminal that they get away with this

    • John Hunter says

      I am still yet to receive mine I am so bored of waiting I honestly have no idea how Much I should expect boo.

  9. Loopy says

    Hi all
    Just wondering, does the email still come up as The Money Shop or something else. Thanks.

  10. Jason says

    Hi,

    I received my email today saying my funds will be deposited within 7 days, result:)

  11. Lucy says

    Is anyone waiting on a letter? They dont have my up to date email so just wondered if letters were being sent yet?

      • Lucy says

        They have my bank details as I remember updating that but when I rung he said im down as receiving a letter first but haven’t seen anyone else that have received lol, wonder if it will hit the bank first 🤔

    • Carolyn says

      Hi , I’ve never had an email, ( I think they might have an old email address ) I received a letter in April so I’m assuming I will get a letter this time confirming my refund amount 😊

      • Lucy says

        Let’s hope that we are not bottom of the pile since we need letters sent out lol

  12. Kyle says

    Hi all

    I to received my email today (From Moneyshop) however another surprise was the following email from the Sunny administrators.

    – A first and final dividend of 3.21 pence in the pound (rounded) is to now be paid to unsecured creditors.

    – This means you are being paid a dividend of £52.55.

    – We have processed your dividend payment, and you should receive the funds into your bank account within 5 business days of this email.

    Overall what a touch! £80 in my account in the next 7 working days!

    • Pete says

      Just to say got my email about redress amount on 21/5/2021 and payment of £144.57 credited this morning. By pure coincidence the money from Sunny amounting to £87.96 also credited today which was more than I expected. Better than nothing I suppose. Good luck everyone.

      • Kyle says

        Wow cheers Pete. I just had a look and it hit my account as well! Literally minutes after the email!

        • Pete says

          Good to hear Kyle. A lot of these companies tend to use faster payment systems these days I think,so the vast majority of people don’t have to wait for days once a buttons been hit to issue payments. It’s not life changing money but nice to get it nevertheless.🙂

    • Brian says

      £286 from ICL and £11 from Sunny + £700 written off and removed from my CR so I can’t really moan at what is effectively a grand in redress across the two even though my ICL claim was for just short of £7000.

      Just waiting now to hear what derisory redress figure Casheuronet come up with.

  13. Rich C says

    So I also received my email yesterday along with others. Pertinently:
    Potential Redress Amount £ 9113.36

    Actual cash payment to you £ 392.79

    I don’t imagine years ago heavily indebted, they’d have let me chuck 20 quid in the pot and redress them and others to the tune of 4.31%. They would have (legally) pursued me to the other side of hell and back.

    I made my dissatisfaction known via email to Sheraz Afzal the former CEO and “risk officer” all through this 2 year wind down period.
    his history goes right back to Dollar UK running ICL.

    Equally I’ve forwarded said email with redress to Mel Stride MPchair of the treasury select committee and Nikhil Rathi CEO of the FCA.

    I’d written to them extensively (by letter) 6 week ago about this matter and received no response, as expected.

    I’m very grateful to Sara for her advice, patience and sense of duty through all this. Without her knowledge is have long since given up.
    accordingly some of my redress will be donated to the local CAB with highlight to her work.

  14. Linda says

    I am confused by some of the figures, I have a redress of £686 what will I get

    • John says

      I didnt even know about sunny, until £4.32 appeared in my account, no emails. Strange as they deemed my loan affordable when I originally claimed.

      Waiting on my 180 ish from moneyshop.

  16. Mark says

    Lynne loves her calculator Linda! I have still had no emails for a couple of months now and therefore………..no payment! At least it looks as if more people are receiving money now so that’s a positive.

  17. Ceri Ann says

    I know we are not long into June but I can’t help being disappointed that I have not yet had my email of paid redress. I know it won’t amount to much as my total redress was only £2590 but I worry that maybe some of us will be forgotten. Won’t be any more emails over the weekend

    • Tracy says

      well said ceri ann i totally agree… That day we all had the same email saying we will be in touch very soon to tell you how much . IM like you have not heard anything since.. I think we will still be saying same thing in a few weeks ,when everyone else as prob been paid .I just do not know what else to do . Think we have waited long enough now… .

    • Claire Turton says

      Not heard a dickie bird since the closure of the portal .
      Mind Blowing that the emails are being sent out on a ad-hoc basis

  18. Annie C says

    Hi Sara

    I’m not sure if you can help me – I have emailed the money shop but don’t anticipate a reply any time soon. I had a potential redress of £2200 ish and they told me I owe £188 to PRA group which they said they would use the redress to offset. They then told me I have an outstanding loan from ICL where the capital is £500 (£781 on CR with the added interest) and said they’d also take the £500 from the redress amount. Now on my email they are taking £969 which is clearly the full £188 plus £781. I appreciate in terms of what I get back it makes very little difference but as I have one going via the same process now at provident I am interested in this – that £500 loan was included in the ones classed as upheld so why are they now taking the interest out of my redress???

    Thanks – hope that makes sense

    • Sara (Debt Camel) says

      I don’t know, it doesn’t sound right. I suggest you email them and ask this.

  19. Cece says

    I haven’t had anything from money shop yet but yesterday I received £140 from Sunny.
    After sitting watching this thread for a few weeks I decided to e-mail the only other lender I hadn’t had anything from, Lending Stream. I e-mailed and within a week I had all of the details of my loans with them through. So now I’m just waiting to see if I receive anything further from them.
    Thanks to the comments and experiences of everyone on here.

    • Mark says

      I was lucky enough to put a complaint in to sunny 3 yrs ago, 54 loans of small amounts over 4 years and all but 12 were upheld. I actually got a decent amount back from them £3200. I didn’t even think I borrowed that much but it’s amazing when added together the amount I did borrow over them years, 6 grand or so.
      Helped me pay off a credit card and another loan.
      Potential redress from money shop is £11237 so expecting £450 or so but not had email yet. Good luck with lending stream they ain’t the best.

  20. Ross says

    My credit score on experian has jumped drastically overnight by over 200 points, anyone any idea if this is linked to the removal of the loans from my credit file?

    • Sara (Debt Camel) says

      I just wanted to double check that it was an Experian score you were looking at? Not an Equifax one?

      • Ross says

        Yes Sara, Experian. I’ve recently settled a couple of other outstanding historic debts so I’m guessing this will do no harm.

  21. Katharine Bisset says

    I’ve heard nothing since last month I checked my old bank account and nothing has gone in as thought me too late to give my new bank work details. I just got same automatic reply we will let u know but it’s like 5th June.
    I had potential redress 348 but gutted as I was looking forward to that. Probably get zero back.
    Any ideas when we will get something? I’m frustrated by lack of replies from them since closed the portal. Sucks now.

  22. ROBERT says

    Never mentioned, but my own research shows that Barclays Bank PLC, were the facilitator behind the scenes of the PDL loans. They gave them an account to lend and retrieve. If I am wrong please correct me.

    • Sara (Debt Camel) says

      Are you hoping you have some come back against Barclays? That isn’t going to happen.

  23. Suzzyjen says

    I have had an email saying I will receive £ 588.83
    Well it’s better than no money,I’m glad I paid all the loans so at least I dont have to repay any amounts.
    It is a shame we were so poorly served by conventional banking and had to borrow this way.
    Lessons learned.

  24. Lesley says

    I’ve not heard anything since The letter we got saying redress is £6159..
    So will I be paid or not, becoming a joke now..

    • christian concepcion says

      i wish I could answer your question. unfortunately I am also waiting for my email. it is what it is. all we have to do is to wait.

    • A says

      Me neither!
      The rare occasion they have responded to my emails it’s been generic rubbish, nothing specific to my claim at all, it’s a joke now

    • Claire says

      Same here I received a letter in March nothing since and every time I email I get a generic reply not answering my question. I can’t understand why I had one case on the portal then one via letter🤷‍♀️ I email to ask this question but only get a generic reply back

  25. IAN R says

    Friends hopefully we’ll see a flood of repayments over the next two weeks-how icl come up with the original redress amounts is beyond me-a mate and i had same loans but they’ve come up with two widely differing amounts-weird 🌈

  26. Canaan says

    sunny paid an awful dividend 3.21pence in the pound. so for those of you got a credit from sunny last week it is in relation to their declared dividend for which they should have send an email explaining their calculation.

  27. A says

    Roll on a flurry of confirmed emails and payments 🤩🤩🤩🤩🙌🏻 Is this week the one us lost souls get contacted and paid? – last week wasn’t, so surely… 👀

  28. Zoe says

    Hi all. I have an active loan with SafetyNet- re borrowing every month. Do I have a claim? Many thanks

    • Issy says

      Hi I claimed off safetynet recently got over £1200 back and they were really quick to reply no messing about just give me back all my interest well worth trying , good luck 🤞

      • Brig says

        Hi how long did it take from your complaint with safetynet to them offering a payment?

        I complained 2 weeks ago. I know each case is different but I just thought I’d ask.

        I paid just over £2.6K in interest to them in a little over 2 years. They had access to my bank account and could see that I had many loans at the time from different payday lenders.

        • James says

          Did they provide you the loan info and interest paid, or just give you a straight offer?

          • Brig says

            I’ve been provided with my loan info and the interest paid on it within a day of me complaining. I’m waiting to hear about about my actual complaint now.

    • Leah says

      I had an active loan with SNC that had been passed to a debt collector. They cleared the outstanding debt (just over £900) and paid me £650! They offered £400 initially and I disputed it. They came back with £650 which was their final offer. Really quick responses and fast payout. Good luck!

      • Sam says

        I would say aside from PaydayUK/Express, SNC have been my problem company. I borrowed from them at the time while struggling with constant loans from PaydayUK, complained in 2017 via a third party, they rejected the claim and the third party didn’t take it any further. I complained myself after discovering this site but because they’d previously investigated, wouldn’t entertain and I’d already passed the time period to take it further. Annoying really, almost paid the balance off though after avoiding for years and can’t wait to see the back of them.

  29. claire evans says

    Hi Sara

    Waiting for my payment from ICL tomorrow, it’s not huge but better than nothing.
    I see Provident are not on your list of email addresses. What is the best way to contact them about an affordability complaint? Also have people had any success with cash converters, I cashed cheques with them every month for several years!

    Cheers
    Claire

  30. Kate says

    Good luck for the week ahead everyone . Hopefully we will receive these emails! 🤞🏻

    • Fred says

      Who would have thought that we’d have a pandemic and i’ve received 2 vaccine shots quicker than they have sorted this out!

  31. Rachel says

    It is so frustrating to see redress off setting current balances and us PRAC customers are left in the dark.
    I’ve submitted a complaint to the ombudsman but with payments now being paid I think it unlikely PRAC will back down

  32. Leesharratt says

    So. Got my email on Thursday. Do I get it on the 7th day . Or before . A whole 200 pound

    • Jonny L says

      Received my email at 12.20pm stating I would receive £293 in the next 7 days. Check your emails guys!

    • Martin says

      Just decided to log in here for update and low and behold the email from ICL arrived two minutes ago, redress of £156.00 which will don nicely. Thanks again to Sara for helping us through this.

    • Stephen says

      My email just came through. So they are sending emails out today and be worth checking your inbox.

    • Nicola says

      Email received 12:23 today! I was a BW Legal/PRAC customer too bit settled the debt with them years ago. Redress of just over £1000 coming which will help me greatly. Happy to wait another 7 days 🤞🏻

    • Michelle says

      My email has just come through so hopefully another batch is going out to people today.

  34. Louise says

    Hi all,just a quick question is the refund going in banks any time of the day..Thankyou.

  36. Tee says

    Finally had this 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 £ 6386.98

    Actual cash payment to you £ 275.28

  37. John says

    So ive received a payment of virtually nothing from Sunny end of last week and then received an email from the money shop saying they will be paying me virtually nothing within the next 7 days. Criminal. But more importantly, what should they be doing about the closed accounts on my credit reports? And how can I chase these up?

  38. Craig says

    I was told last week that they were looking into an outstanding balance I was disputing. I haven’t had any further replies about it, but just got my payout calculation email and they’ve removed the disputed outstanding balance. So I’m happy with that.

    • Charlie H says

      Same here. Was starting to wonder what I would do if it came back still included but came to the conclusion that it wouldn’t be worth stressing over for the sake of £25

  39. sam says

    hey all
    got my email friday, has anyone had the payout yet?
    if so how long? was it within 7 days?

  40. JR1981 says

    Well done all those that have received their email/payments… to us unlucky ones only a few weeks left. I was always picked last :) ha

  41. Ewa says

    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 £ 17.04

    Actual cash payment to you £ 0.73
    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.My redress was 2428£ how on earth they came up with this figures?!!!! I’m so angry right now !!! I paid all my loans ages ago. It must be a joke !!!

    • Katharine says

      I had the dreaded email today and potential redress was originally for £384 and I was thinking ooh that be nice. Only I am getting £16 paid in the next 7 days, I literally cried but is embarrassing that you are only getting 73p!
      I thought it would be good as previous claims have been honest and correct but the money shop has been a joke in paying you anything.
      I can use it towards food shopping I guess but gutted when I read your amount.
      I would have liked the full £384 as these days or any day, well every bit helps.
      Does make you question what has been done to the rest of the money shop money.
      Not ideal is it at all.

    • kim palmer says

      If you were given the figue of £2428.00 sometime ago, then I have no idea how they came up with that amount, I am wondering if they will pay out per loan rather than the complete total of redress. maybe they worked out that each loan would get you a 73p payout. your total should be about £100 ( im not an expert i am just another idiot who got caught in the trap )
      I can’t see any other reason for giving you that amount. you could wait and see if they send you anything else, you could try to contact them and make sure they havent got you and anyone else mixed up. It doesn’t matter if you paid them off years ago or recently, you wont be getting any interest back.
      It is a very disapointing amount for all of us, those of us who struggle end up being the ones who get caught in traps and end up paying huge interest amounts. anyway good luck i hope they look at yours again

    • Sara (Debt Camel) says

      I think you need to contact ICL and ask where these figures came from and why they have chaged such a lot from what you were previously told.

  42. Christopher Sedgemore says

    Does the money shop do the redress in alphabetical order?? Anyone with a surname after r

    • Sara (Debt Camel) says

      It’s not in alphabetical order. No-one else bother to reply to this!

    • Cyndy says

      Don’t worry Christopher. I really understand why people may get these ideas but it just seems random

  44. Marcus says

    Just got my email now.
    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 £ 1629.54

    Outstanding debt at 9th October 2019 £ 129.60

    Redress left after balance cleared £ 1499.94

    Actual cash payment to you £ 64.65

    £64 It’s a joke but I will use that money to get the Germany 🇩🇪 home kit in time for the Euros. Best of luck to everyone else.

    • Claire says

      I’ve had my email today, it says payment will be made within the next 7 days.

    • Dean W says

      I have just got my email, payment within the 7 working days – nice to finally put this all to bed :)

    • Dave says

      Just received my redress email, thankfully it is soon all over. Hope everyone else receives theirs very soon.
      Thank you Sara for all your guidance.

  46. Chris says

    I got ye old “Further to our confirmation of your upheld claim in the Instant Cash Loans Scheme of Arrangement”…..blah blah blah from Instant Cash Loan’s today. Bear in mind that my potential redress was £299.74 and I had an outstanding debt of £153.45 with them, which they obviously used some of said potential redress to clear this balance, the bottom line is I will be getting the grand lump sum of…..wait for it….£6.31…..within the next 7 days.

    I’ll try not to go mad and spend it all at once lol. Oh well, just one more of these left for me now, namely 247Moneybox, hopefully, I might get a lot more with them seeing as it’s a larger potential redress than the ICL one and they won’t have the excuse of me having any outstanding balance with them, I paid them back in full.

    I have to say, I really feel for people whose potential redresses were in the many thousands and they end up with peanuts, what a terrible insult added to injury it must feel like, especially if they are in a bad financial situation at the moment. Fortunately, I am working and am in a much better position now than I was when I had to take out these kinds of loans, so I’m not as peeved as I might have otherwise been and I am able to be lighthearted about what is indeed an insult on one level or another. Good luck everyone.

      • Sara (Debt Camel) says

        They have said they will pay people by the end of the month. The batches seem to be carrying on, they haven’t stopped and there is still over three weeks to go.
        So there is no reason to think you won’t be paid.

  49. Krishan says

    With it being “random” let’s see who’s names get pulled out of the tombola next time – that’s what they may as well do..at least there may be some sort of organisation that way!

  50. Claire says

    My email landed at 14:13 today. My partner hasn’t heard anything yet. Both claims submitted at the same time.

    Don’t give up hope, it really does appear totally random.

  51. Liz Frost says

    Today I received my email regarding the laughable amount to be paid to me of £34.05 off of an £800 redress……..an absolute joke!!

  52. Jordan says

    For those of you who have got your redress in your bank account, how long did it take after you received the email?

      • Faye says

        Well I got my email Friday so hopefully money will be here tomorrow..Tuesday will let you know..whoop whoop 🙌 thank you Sarah for putting up with us all whinging 😜

        • Mario says

          I received my email Thursday and was expecting monies today but no joy maybe I shouldn’t have included Thursday as one of the banking days do hopefully tomorrow 😊

        • Ross says

          Same Kirsty. Email received Thursday but no payment yet. I guess 7 days means 7 days.

        • Frances says

          Same here ! I’m beyond fed up with this whole experience. I keep checking my bank a/c but no payment yet !

  53. Simon says

    Been following this forum with interest over the last few weeks….still waiting for my email….losing hope now…..pray for me!

    On a different note wrote to Lending Stream and Mr Lender and they both paid out a 4 figure redress within 28 days of my first contact so well worth reaching out to them! Mr Lender was a bit painful with lots of emails back and forth but Lending Stream was unreal they just sent me a link and it was an instant transfer once I accepted their offer…..finally one for the good guys!

    • Foster says

      That’s amazing! Nice one Simon. I have also emailed lending stream and mr lender. Hopefully I get same outcome as you. Enjoy it Mate ☺️

      • Foster says

        Oh my. Happy is an understatement. Leading stream just emailed and with a click of a button have sent me over £600! Sara Ty so so much. That’s from a email template I sent from here less than 2 weeks ago! Ty so much. Can’t believe it.

  54. Stephanie says

    Hi Sara I just wanted to thank you for the link you provided with the templates for affordability complaints. I sent lending stream one on the 26th may less than 2 weeks ago and out of my 44 loans they have upheld 38 and a refund of £3950 is coming my way. I had a little cry and am so thankful I found this forum the advise is fantastic. Thank you again x

    • Sara (Debt Camel) says

      Excellent!

      For anyone else wanting to make a complaint against Lending Stream (or Safetynet Credit, Mr Lender, Cash Converters, Moneyboat etc etc) see https://debtcamel.co.uk/payday-loan-refunds/ which has the template letter to use.

      For a complaint about large bad credit loans such as 118, Everyday Loans, Likely Loans, logbook lenders, Moneybarn and other car finance see https://debtcamel.co.uk/refunds-large-high-cost-loans/.
      Loans2Go are so bad they have a page of their own! https://debtcamel.co.uk/worst-loan-in-britain/

      For guarantor loans (except Amigo) see https://debtcamel.co.uk/how-to-complain-guarantor-loan/
      For doorstep loans (except Provident) see https://debtcamel.co.uk/refund-doorstep-loans/

      For Amigo see https://debtcamel.co.uk/amigo-new-scheme-2/
      For Provident see https://debtcamel.co.uk/provident-scheme-refunds-vote/

      • Sops says

        Hi, I tried lending stream and they confirmed 17 loans , they’ve rejected my complaint as I had written to them before and rejected then as well , they say I can’t go to the ombudsman as it was 18 months since I submitted my original complaint , I’ve requested copies of the agreements and they seem to be stalling , is it worth looking into further ? Thanks

        • Sara (Debt Camel) says

          Well you can make a nuisance of yourself. Ask them for a Subject Access request for a copy of all your data (go through https://www.lendingstream.co.uk/contactus/ and choose Data Request), including all credit checks they made on you and recordings of any phone calls. Then you need to cross check everything they said in their rejection letter to you before against the info you have. Was anything factually incorrect?

          • Sops says

            Thank you I will persist ! Re factual I am not sure as they sent a brief breakdown detailing all loans that were in quick succession and just had same pay details as per original loan , I don’t think I’ve ever spoken to a person there though.

          • Pete says

            Hi Sarah,

            Is there a statute of limitations on these complaints. I had a company submit a claim on my behalf but they messed it up and when I tied to make a claim myself, lending Stream said the window had closed and no claim could not be made. I’m wondering whether I should persist or not.

            Many thanks

          • Sara (Debt Camel) says

            If LS rejected the previous complaint that has to be taken to the ombudsman within 6 months.
            When you say the claims company messed up, what did they do wrong? Are they still in business?

        • Grant says

          I’m in the same boat… I tried few years ago.. they rejected the complaint. I had wonga…sunny…paydayUK…quickquid…lending stream loans to name a few all at same time. Wonga accepted at the time others didn’t.. but now I had Sunny payout…years later saying I was.due nearly 2.5k…but only got fraction of that. Still waiting for moneyshop like many others.

          I just don’t get why they reject it years ago but soon as the companies collapse they are like..” oh yess we did irresponsibly lend.. but your not gonna get the thousands due only small percentage.

          I have emailed lending stream back saying about this and about my other loans from PaydayUK and Sunny that was originally rejected… now saying they did irresponsibly lend.. that all my income…expenditure was same with each application.

          Just waiting to hear back.

    • Cece says

      That’s great! Can I just ask with Lending Stream did they send you a few e-mails? I sent an affordability complaint on 27th and within a week they’d sent me details of my loans. I was wondering if I need to do anything else or just wait to see if I hear anything else from them?

      • Cece says

        Sorry literally immediately after I posted that I received an e-mail from Lending Stream with an offer.
        I’ve accepted the offer and it should be in my account in 3-5 working days. Initial e-mail to money in under 3 weeks is a result!
        Thank you so much, if it wasn’t for this site I wouldn’t have thought to e-mail them.
        Now just to sit and patiently wait for my money shop e-mail!

    • Jenny says

      Hi, that’s really great news and we did the same and received an offer of 917.60 from lending stream this morning and accepted and sent new bank details so hopefully money will be in the bank soon and still waiting for email from money shop for payment, I follow this site constantly for information and updates it’s so helpful and well run 😃😀🤩

      • Louise says

        Hi Jenny how long did it take to go in your bank after you sent your new bank details.🙂

    • Ally says

      The lending stream complaints works! I emailed just less than 2 weeks ago & received a reply this morning saying I’ll be getting £6686 back!!! Due to be in bank account in 3-5 days!

      Wow! Thanks for the tip!

    • Skells F says

      Hi Stephanie,

      I’m so pleased for you. I really hope this makes a real difference to your current situation.

      Sarah’s dedication to helping us is outstanding.

      Best,
      S

  55. Maria says

    Hi. Did anyone who received the email on Thursday / Friday last week receive payment yet?
    I got my email Friday

    • Helen says

      Hi sara I received my email for payout on the 3rd of june but as we have had a weekend and bank holiday do you know how long it will take to go in as its saying 7 days but I feel this will now be longer?

      • John says

        I received my email on Thursday and still no payment here. As long as payment hits by Thursday its OK.

    • Sam says

      Hi I got my email Friday
      When will I get the refund

      Does it go on random times or the day or just in the morning

      • Maria says

        Most banks say they process between 1am
        And 7am so if it hasn’t gone in yet then it probably won’t today. Hopefully tomorrow now 🙏🏽

    • Sara (Debt Camel) says

      payments are made by BACS – these take 3 working days. When they are credited to your account depends on your bank’s processing, not the time the payments was originally made. Soem people’s banks let them see “pending credits” the day before, but most don’t.

      • Annie Goodfellow says

        Hi Sarah just a quickie I got my email on third 2hen would the 3 working day be from the date of email or starting the next day would that be day one ie 4th so third working day sometime today payment should credit and is that anywhere from midnight to 20.00. Just checked not in yet

      • Stewart says

        I’m with Barclays. I can receive payments at random times. Normally when I have had a refund on something, it says 3 – 5 working days. But it then goes into my account the following day at 14:30(ish).

        So who knows when this will arrive (I recieved email on Friday).

        I know some below has mentioned they have the payment showing as pending but I have no way of seeing this.

    • Maria says

      I think we assumed they put it in as soon as they send the email but perhaps this isn’t the case. Maybe they sent the email on Thursday / Friday but make the payment on Monday? Who knows,hopefully we’ll receive it in the next few days

  56. JR1981 says

    I have to say that I put in a complaint with the moneyshop a few years ago and although they rejected the complaint I took it to the ombudsman and one I think around £1800. I didn’t think I was entitled to anything with this scheme but I still went ahead and claimed. Although the redress was in the 3K mark with this claim I will be receiving around £151 which I have decided to give to our local soup kitchen (homeless) when it comes through. Thank you Sara for all your help and advice.

  57. Patrick says

    I got my email on Friday, the payment is shoeing as pending on my account today :)

  58. Anna says

    Good morning , I just want to say thank u Sara soo much! Made complain to lending stream last Thursday and today got email back saying they own me nearly £2000!! Am so pleased and happy! Thank u so much ! And by the way no email yet 🤦🏻‍♀️

  59. Von says

    Has anyone had any luck with Mr Lender or is it difficult to get anywhere with them?

    Thanks

    • Sara (Debt Camel) says

      Lots of people have had payouts but many have to be sent to the Fincial Ombudsman. It is well worth persevering with a complaint against them if you borrowed from them several times, even if they reject it.

    • Mark says

      Still no email.

      It is dragging on now.

      I am beginning to suspect I’m not getting anything.

      • Sara (Debt Camel) says

        lots of people are still waiting, but there is weeks to go yet, no reason to worry at this stage

      • Steve says

        I’m in the same boat no contact from them since redress email, at least they seem to be in full flow now

      • John says

        Same boat, last I heard was about the offset but still leaves me with about 180 roughly.

      • Anna says

        I have not received anything either as yet , i totally forgot about it . Waiting for these and Peachy

    • therion Ware says

      Apparently by the 20th of June 2021 at 4.31p in the pound, but they do round up, so there might be an extra penny in it!!

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