UPDATE – Morses Club went into administration on 17 November 2023. This scheme has now been terminated. See Morses Club goes under – in administration – Scheme fails for details and what customers should do.
Morses sent out a batch of decisions on 6 July 2023. Many people have found these confusing – see the comments below this article.
At one point the email says in a grey box:
“Morses Club currently estimate that under the terms of the Scheme, you will receive approximately 20% of this amount and that this will be paid to you in the fourth quarter of 2024.”
Further down it says in normal text on white:
What you need to do now
We will pay any refunds due to you electronically to your bank account, within 30 days of this notice.
So many wanted to know which is right – are they being paid now, or in more than a years time?
Morses has now clarified that the refunds that are being paid in the next month are to a limited number of customers where:
- they have a current loan
- their claim has been upheld
- the redress (legal-speak for compensation) for the loans is greater than the remaining balance
- the customer has made payments after 30 May 2023
- it is these recent payments only that are being refunded now, NOT the cash element of the compensation – that will be paid towards the end of 2024.
Morses Club plc [“Morses”] proposed a Scheme of Arrangement in December 2022. This Scheme has now been approved by the Court and started on 30 May 2023.
Customers now need to make claims to the Scheme before the deadline on 30 November 2023. UPDATE – it is no longer possible to make a claim
The details of the proposed Scheme are in the Explanatory Statement. That is a long legal document and the FAQs here are a bit more understandable.
Background to the Scheme
What is unaffordable lending?
A lender has to check that a loan is affordable for the borrower before giving the loan. The Ombudsman has listed the points it looks at when considering an affordability complaint.
A simple summary is:
it has to appear likely at the point a loan is given that you will be able to repay it on time, without being left so short of money that you have to borrow more or get behind with bills. So a loan that was paid on time may still have been unaffordable if paying off Morses meant that you had to take another loan from Morses or another lender or your credit card or overdraft increased.
An affordability complaint is sometimes called an irresponsible lending complaint.
Morses financial problems
Morses faces three main financial problems.
First, it has been paying out increasing large amounts in affordability complaints. Doorstep lending has often involved customers taking out a series of loans as the high interest leaves them unable to manage without more credit. So a lot of these cases were unaffordable and Morses, like other doorstep lenders, failed to make adequate checks.
The Financial Ombudsman (FOS) was upholding 57% of complaints against Morses in the first half of 2022.
A Morses review has identified a potential gross redress owed to customers of £112m. It is working on the basis that only 40% of this would be claimed in a Scheme.
Secondly, its revenue, loan book and the number of customers have all been falling this year as it has tightened its lending criteria. It describes its operations as being constrained by the shrinking borrower base. This applies to Dot Dot loans as well as doorstep lending.
Thirdly, Morses current funding ends in March 2023. It says:
as the current funding facility is in place for less than 6 months following the date of signing the Financial Statements, there is material uncertainty in relation to going concern regarding secured funding.
The Scheme details
What is NOT included in the Scheme
The proposed Scheme does NOT cover:
- any doorstep lending complaints which are not about unaffordable lending;
- any doorstep lending affordability complaints about loans after 2 August 2022;
These excluded complaints will continue to be handled in the normal way. Take one of these complaints first to Morses (email mcl.complaints@morsesclub.com) and send the complaint to the Financial Ombudsman (FOS) if Morses rejects it.
The Scheme also does not cover lending by Dot Dot loans, Morses payday lender brand. If you have had one of these payday loans and want to complain, read Ask for a payday loan refund which has a template letter to use.
Comparison with other similar schemes
The main difference with the Provident Scheme is that Provident was closing its doorstep lending operation, but Morses hopes to carry on lending.
The Morses Scheme follows broadly the same path as the Amigo Scheme, requiring investors to contribute through an equity raise.
Morses Club Scheme timetable
- 7 March 2023 – Court Convening hearing – this approved the voting arrangements.
- April 2023 – Customers voted on whether they want the Scheme to proceed.
- May 2023 – Court Sanction hearing – this approved the Scheme, so it has now started.
- 30 May – 30 November 2023 – customers have 6 months to submit a claim to the Scheme.
- 2024 – refunds expected to be paid. UPDATE – this will no longer happen as part of the Scheme
What happens after you have made a Claim
Morses will decide whether to uphold your Claim. You will get an email saying that your Outcome Statement is ready. You can access it through your Portal Account.
I think it’s worth checking your Portal Account every month to see if there is an update there. If your claim is rejected you can appeal this, but there will be a time limit. So don’t forget to keep looking for this.
What refund may you get?
If an affordability complaint is upheld in the Scheme, the compensation (called “redress”) is calculated:
- for upheld loans that have been repaid, the redress is the interest paid;
- for outstanding upheld loans, interest is removed so the borrower only has to repay in total the amount they borrowed. This may mean a lower balance is owed or that the loan cleared and a cash refund is due.
Where your balance is being reduced or cleared, this will be paid “in full”.
But where a cash refund is calculated, you will not receive that amount. The amount you will get will depend on the total cash refunds calculated and the amount of money in the Scheme to be distributed.
Morses currently expects that customers will be paid about 20% of the calculated cash refund.
This is a very uncertain estimate. It depends on how many people make a claim to the Scheme.
It also depends on how many of the claims are upheld and how many of the loans in each claim are upheld. If you had 7 loans there will be a large difference in your refund if five are upheld or only one.
Credit records
Morses will removing loans that it has decided are unaffordable from your credit record.
Should you carry on paying Morses for a current loan?
You are still legally liable for the loan – Morses proposing a Scheme does not affect that, nor does this change if you make a complaint.
Morses are hoping to begin deciding claims in batches and if your balance will be reduced, this will not have to wait for the point where cash is distributed.
However it may be 6-12 months before your claim is decided in the Scheme. That is a long while to have to carry on making payments to a loan which may eventually be decided to be unaffordable…
If you are currently struggling to pay Morses, perhaps being behind with priority bills or having to borrow more on credit cards or catalogues, then carrying on paying Morses for a loan that may be decided to be unaffordable is not a good idea.
In general, it is probably better for most people having difficulty paying Morses to stop paying or offer a low affordable payment. This will harm your credit record but if you later win the claim, that negative mark will be removed from your credit record.
If you default on other debts or don’t pay important bills or borrow elsewhere in order to pay Morses, you are liable to be in a much worse position even if your Morses claim is eventually upheld.
To get specific advice on your case, I suggest you talk to National Debtline on 0808 808 4000, or visit your local Citizens Advice if you have problems with priority debts and bills.
Kim says
Hi Sara, so morses logged my complaint on 11th august and it’s since been with ombudsman for past 2months now as I’m still waiting for a case handler to deal with it. So does this mean i will have to wait to see what happens with scheme or will I get paid out if ombudsman upholds my complaint?
Sara (Debt Camel) says
I don’t know what will happen to these cases currently at the Ombudsman, sorry. This should become clearer in the next week I hope.
David says
Hi Sara
Nothing to do with the scheme just a quick query i paid off my morses loan early and it says renewal settlement balance of – 311.70 and the woman ive been dealing with says this will be my rebate do you know if this just automatically gets sent back to me or anything?
Sara (Debt Camel) says
I’m sorry I don’t – you will have to ask.
Craig says
Amazing how theses firms can get away paying as little as possible but people they wronged have to pay full amount the whole system needs to be looked in to
Brian says
Got email yesterday from them I’ve signed up to the scheme
Hugh craig says
How can these big firms get away with this
Sara (Debt Camel) says
the FCA being feeble and not enforcing its rules
Jim says
Hi Sara, I sent complaint to Morses in November and hadn’t know about the scheme, will I need to do a claim through the website they have sent me in the email about the scheme or would my complaint automatically go to the scheme.
Thanks
Sara (Debt Camel) says
Do you have a current loan from them?
Jim says
No, it defaulted and went to debt collection who I have settled it with.
Thanks
Sara (Debt Camel) says
Then it isn’t urgent that you do anything. Morses SHOULD take your complaint as a claim to the Scheme, but you need to check this has happened when the Scheme is actually underway, which looks like late May if everything goes according to the timetable.
Emma says
Hi I’ve signed up to the scheme but I’ve noticed past 2 months morses have been sending texts out earlier and earlier for payment reminder then today I get a call from the area manager to say that the agent couldn’t get hold of me I wasn’t accepting her calls I had received no calls payment not due till tomorrow never the less it got paid this evening on the app as I told the area manager has anyone else had any similar issues ?
Sara (Debt Camel) says
how much do you still owe them?
are the repayments easy to afford, or are they leaving you short of money?
how long had you been borrowing from Morses?
Helen Robertson says
Hi I made a affordability complaint to morses in 2021 the outcome did not go in my favour and I did not make a claim with the ombudsman at the time the debt is now with a debt collection would I be still able to claim with the scheme many thanks
Sara (Debt Camel) says
I will say Probably, based on what has happened with other Schemes. But you will have to wait until the Scheme documents are published to be sure.
Helen Robertson says
Thanks for your response would I be due any compensation even if my affordability complaint was rejected in 2022 thanks
Sara (Debt Camel) says
In other Schemes, the decision has been looked at again. It may well be that you should have had some compensation then – it is a shame you did not send it to the ombudsman at the time.
Helen Robertson says
Would you recommend I sign up for the scheme and hopefully get some sort of compensation back thanks for your reply
Sara (Debt Camel) says
Yes, I can’t see any reason not to. The worst that can happen is they say No again.
Kim says
Hi, Iv not had any email or letter asking me to sign up to scheme. Should I contact them or as it’s already with ombudsman leave it as it is?
Sara (Debt Camel) says
there is nothing to be done at the moment. If the Scheme gets through the first court hearing (which is pretty much a formality) then you have the opportunity to vote on the scheme.
As you had a FOS case in progress, a claim should be automatically entered to any scheme but once the Scheme is finally approved it is a very good idea for you to check this has been done.
C C says
I did made a complaint to morses approximately over 3 years ago about unaffordable lending. Morses did accept my claim and paid me compensation which they also deducted from as I did owed them. I received a letter recently stated that I must register to the scheme, which I did. Have been taking loan from morses since 2013/2014 up till 2020/21. Should I make a claim?
Sara (Debt Camel) says
How many loans were you refunded for?
Linz says
I made a claim through a company and had a number of loans refunded, not all. Should i put in a vote on the scheme as morse has contacted me by letter
Sara (Debt Camel) says
You may be able to get a refund on the other loans in theory.
In practice Morses may well just reject them…
Ann says
[email address deleted]
Sara (Debt Camel) says
Hi Ann, you left you email address and no other details – do you have a question?
This page is not run by Morses, if you want to make a claim to their Scheme read the How to send a claim to the Scheme section in the article above these comments.
Leeanne says
Just an update – I previously made a complaint but it was denied by Morses (last year)
They’ve since sent me the letter to sign up to the scheme and I’ve submitted the form today.
Not sure if I will get anything after them refusing my complaint but let’s see!
valerie simpson says
i woulld like to make a claim for a refund thankyou v simpson
Sara (Debt Camel) says
This page is not run by Morses.
See How to send a claim to the Scheme in the article above these comments ⬆️
Ronnie Dewey says
Hi, my wife passed away in 2019 will I be able to claim for loans she had as I was one receiving benefits and I paid them.
Sara (Debt Camel) says
You should be able to make a claim on behalf of her estate, but the test will be whether she could afford the loans, not you.
Talk to Morses about this and let me know if there is a problem.
Kerry says
Hi I’ve had 15 loans from morses over the years raging from 100 to 800 I’ve recently had 3 of my loans wiped at the value of 1300 approximately and they said my compensation was greater than that amount how much do you think I will receive approximately thank you.
Sara (Debt Camel) says
I am sorry I can’t guess. They should tell you how many loans they are upholding as unaffordable and the interest that you have paid on them.
Sharon says
I received email yesterday telling me that the balance is greater so loans is now fully paid. Checked on my morses app and yipeee no more to pay and balance at 0.
When will I get the money then as they paid off account
Sara (Debt Camel) says
That will have to wait until nearly the end of the Scheme, as they will only have a certain amount of money to divide between people like you who are owed cash refunds.
Sharon says
Ok thank you Sara for replying and I guess waiting out another 18 mo tha ain’t so bad. No loan to pay back anymore though. Happy with that
Sharron Norman says
Hi Sara,
I received an email today to check my portal due to an update. It stated I had redress to the value of £746.44 but will only received 20% of this value. It stated this would be paid into my bank accounts within the next 30 days of the notice. I was under the impression that payments wouldn’t start to later next year. Has anyone else had this do you know ?
Sarah Evans says
Hi sara
I have had a letter (via email) upholding my loans with morses – owed over £11k but I know I will be lucky to see a few hundred pounds – my query is they are asking you to upload bank details but there is no where I can see on portal to do this ? Have you any suggestions or do any of your avid followers have any ideas how you do this ?
Christine says
Hi Sarah I had to give my bank details on the morse claims portal just scroll down you should find it .
B says
Received a email from morses. I will be receiving a refund in the next 30 days
Amy says
Hi I’ve received an email to let me know that compensation will be due. But there seems to be no option to submit any bank details will that be a separate email. Thanks
Beth says
Hi there , I’ve just had my email from morses scheme with my redress amount , £7, 429.40 which I will receive approximately 20% of this total which is about £1,483 they upheld 12 out of 26 loans according to email they will start paying out in the fourth quarter of 2024
Beth says
I’ve just reread email , and totally agree it’s so confusing it says on one part of the letter to be paid fourth quarter of 2024 but a bit further down it says to be paid within 30 days of this notice
Marie says
I have had a email today saying i am owed and to expect payment by bank transfer 30 days from date of letter(via email) .
This really quick as i didnt assume anything would be paid out until next year ?
Sarah brown says
Received a email today telling me they accepted my claim of 7745 and I will receive 20 percent in 30 days how likely do you think this will be asked for bank details
Alicia Miller says
It says 30 days but then if u read properly says won’t receive ur 20% until end of 2024
Amy says
I had an email to say that Iam due a refund and had to submit bank details.
Sarah says
Have you submitted bank details though and if so how ?
Chris says
Hi Sarah I logged into the claims portal and my claim was successful I sent a message in the chat at the bottom about my bank details yesterday logged back in today and the bank details option was there to fill in I’m also confused with the refund in 30 days and September 2024 but why would they want bank details now if they are not paying out until 2024 so hopefully it will be in 30 days 🤞
Claire says
I believe the refunds you will receive in 30 days is anything you paid after you signed up to the scheme. So say you paid your agent 100 from the day you sent your claim in and it was upheld you will be refunded that £100 within 30 days.
Any compensation due to you will be paid the fourth quarter of 2024.
That’s how I’ve picked it up anyways. I don’t understand if they uphold your complaint and you’re due a refund of say 7000, how do they get away with just paying 20 percent back?? 7000 is ALOT of money to only then get back around 1500 pound.
Sara (Debt Camel) says
I don’t understand if they uphold your complaint and you’re due a refund of say 7000, how do they get away with just paying 20 percent back??
Because that is what was set out in the Scheme that customers voted for. There is no way to challenge this.
If you had complained and had sent the complaint to the Ombudsman so it was sorted before the Scheme you would have got the full amount back.
Do you have any other high cost debt? Loans, credit cards, catalogues… see
https://debtcamel.co.uk/tag/refunds/ for article about other refunds you may be able to get in full.
Alicia Miller says
It’s quite confusing because it says refunds due in 30 days
But the amount credited in the claim isn’t due till 2024
Tim stone says
I am a little confused as in one part of my email it states that I will receive around 20% within 30 days of this letter and it also states I won’t receive anything until late 2024? Any ideas
Ken Aaron says
Hello, I received an email that I am due a redress of £707 but will receive 20% of this amount. I’m confused as in one section of the letter it says refund will be paid within 30 days. However in another section of the letter it says these payments will made in fourth quarter of 2024 which is ages away. Which one is it?
Kerry says
I had an email yesterday to say my claim had been upheld, should hopefully recieve at least 4k,if 20% as stated. Did say in notification that payment would be last quarter of 2024. This morning I had the access to submit bank details.
I don’t understand why some people are being paid within next 30 days .
Sara (Debt Camel) says
Thank you to the two people that have forwarded me their emails.
THEY ARE INDEED CONTRADICTORY about when you will be paid.
I have asked Morses to explain what is actually going to happen.
In the meanwhile, everyone getting this email need to check the list of loans on it:
1) does it look complete, or does it look as though a lot are missing? (this can heppen through systems error or if you have moved and the system was updated correctly.)
2) are you happy with the decision about the loans that have been upheld? If you aren’t, you can appeal and ask for more to be upgheld. leave a comment here if you are unsure what to do. In other Schemes people have won some of these appeals.
Also this is a good time to think if you can make any other affordability complaint where you may get paid in full, rather than just an insulting 20%… See https://debtcamel.co.uk/tag/refunds/ which has a list of articles looking at claims for refunds about loans, credit cards and ctalaogues, overdrafts and even car finance.
Nicola says
I have had a successful claim and my balance has been wiped off no more payment yippee however I “overpaid ” my loan by 160 pounds I’m assuming that will be paid back within 30 days and my 20% (if I get anymore) will be paid in 2024 I ve not had my final outcome email with loans that were upheld yet x
Claire says
I checked the portal this morning & I can add my bank details.
The email they sent is really confusing to say the least, they need to clarify what they are doing.
Marie says
I had an email yesterday saying i have x amount claim balance that im entitled to and to add my bank details as the funds will be refunded up to 30 days after the date of the email? But also it mentioned another payment being made in August 2024?im confused?
Sara (Debt Camel) says
I AM TOLD THAT MORSES WILL BE SENDING ANOTHER EMAIL TO CLARIFY THINGS ON MONDAY
I don’t think anyone who has made a claim should expect to receive any payments in the next 30 days.
Marie says
Confused as to why they need bank details now then?
Many thanks
Sara (Debt Camel) says
I know…
Elsie says
I just rang them as I couldn’t log in. They said payment defo end next year.
Marie says
Confused as to why they need bank details now?
Sarah brown says
You wonder why they need bank details now very confusing
Jason says
It says REFUNDS will be paid in 30 days, so that’s for people that have overpaid on there loans and are entitled to a refund of money overpaid, and that the compensation will be paid 4th quarter of 2024 so that’s the 20% (which probably won’t be 20%) it’s not really confusing if you read it properly.
Sara (Debt Camel) says
Except the redress for unaffordable lending is paid as a REFUND of the interest paid. As per the title of this article.
The problem here is
1) the email appears to have been written by lawyers (big mistake)
2) the “important informatIon” is in black in grey – that does not stand out. Rookie error when the “what do you need to do now” stands out in bold black on white and underneath that it says refunds will be paid within 30 days
3) they are asking for peoples bank accounts immediately which also suggests that people will get paid soon.
It is confusing because it will often be misread.
People who are not lawyers should not have to read something clearly and deduce what is happening by checking back with the scheme documents.
Morses should either have written it simply in plain English.
Or they should have been more careful and sent a tailored letter to everyone, only mentioning the immediate refunds to the tiny number it is relevant to.
Crazy fool says
Mine got rejected even though 3 ccjs and loads defaults always paid back early and even when scheme had gone in and I applied they still offered and accepted me even offered me a second one dispute with a shirty message went in
Sara (Debt Camel) says
So this is a normal affordability complaint to Morses, not part of the scheme. Send it to the Ombudsman if Morses reject it.
Also what other debt problems do you have? In an overdraft for all or almost all of the month? Cards or catalogues that have increased your credit limit while you were only making minimum payments? Other loans?
Sarah brown says
Has morses come out with a statement yet about the 30 days
Em says
I’ve just received this from Morses:
‘Following on from the Outcome Statement you received last week, we would like to confirm that although you do have a Valid Scheme Claim you are not due any refunds. The value of your compensation is currently estimated to be 20% of the Ascertained Scheme Claim value. This payment is expected to be paid in the fourth quarter of 2024.
You are not due any other refunds and will not receive any other payments until the fourth quarter of 2024’
It’s a bit iffy that they have everyone’s bank details. Was just wondering if it would be worth it to ask them to remove until nearer the time?
Nicola Greene says
Makes me sick, that we only got 20% of are refund, and we all struggling paying, so we get a f you here’s a little bit of what we own but we not paying you it all
Annon says
I think its disgustung you gave paid these loans however you will not receive a refund till next year. However if you owe Morses money they immediately wipe off your debts and a refund of 30 days how is this fair i will never use these again or recommend them to anyone it is very unfair to give people a false hppe especially with current financial hardships i gavecreferred mine to the ombudsman as it is very unfair.
Hugh says
I recieved an outcome statement that my refund was over £3000 and I would receive 20% of that then I got a message as mentioned above by em that although I have a valid claim you are not due any refund etc what exactly does that mean Am I due a refund or not I understand it would be next year just they are asking me for bank details but I don’t understand if I am getting any refund or not
Sara (Debt Camel) says
yes, you will be paid a percentage of the 3000. But not until late 2024.
Morses are unhelpfully using the word “refund” to refer to a different situation, where someone has overpaid a loan and should get the extra refunded, whether it is unaffordable or not. Thios refunds will be paid within a month.
Annon says
So basically if you had an active loan they would pay that off then anything left they would pay you within 30 days how is this fair that people who have struggled over the years to pay off their loans are penalised its a disgrace and is a very unfair system. It makes you think should i get a loan so they will pay me my refund
Sara (Debt Camel) says
I don’t think that is what they mean by a refund. I think if you have a loan, then will clear/reduce the balance now, but you will have to wait until next year for any cash refund.
What Morses is calling a refund is when you were supposed to pay £500 to repay a loan but by mistage an extra payments was taken to you pais 600 – then you will get the 100 refunded in full in the next 30 days,
Mark says
I’m just looking at the details of my letter from Morses.
There is an amount of £455 that was sold to debt collectors, the letter says that this will be written down to zero. However since this amount of £455 was sold to debt collectors I have been debt collectors and the balance now stands at £164. As I have reduced this balance by nearly £300 am I entitled a refund of this amount?
Thanks
Mark
Sara (Debt Camel) says
You need to inform Morses. It is unlikely that you will get paid in full but you may be able to get a percentage back.
Mark says
The £164 was written off however no mention of the payments I had made to lantern. Following a complaint to morses I’ve now had a new statement and will only get the percentage of the funds paid to lantern in line with other compensation – what a scam this is, appreciate it’s better than zero but the fact they can carry on trading is frustrating
Helen says
Any update if its 30 days for payment or will it be September next year .
Sara (Debt Camel) says
I have updated the article above.
It will be late next year
EXCEPT if you have a current loan AND the compensation will clear the balance AND you have Made payments so nice the Scheme started at the end of May – in this case you will get an immediate refund in full of the payments made since May – and the rest will be paid at a percentage lat next year.
Kerry says
I got my 80 tremendous today for overpayment
SP says
Hello Kerry,
Do you mind asking how long did Morses Club took to refund your overpayment, as I am currently waiting for mine?
Thank you
Kerry says
22 days sp I haven’t received an offer for the compensation yet hopefully I will receive that soon x
SP says
Thank you Kerry!.. I’ve received the outcome letter on the portal dated 5th July, part of the claim amount will be writing off my outstanding loans which hasn’t been applied as of yet and I should be receiving the overpayment made but they said they can’t give me a time frame on when I will be receiving it…I hope you get your outcome letter very soon..x
Sara (Debt Camel) says
That is likely to be in the 4th quarter on next year
SP says
Hello Sara,
Thank you for your message. I have made a payment of £60 on 30/05/2023 and £60 on 03/07/2023.
I should be entitled for my overpayment of £60 made on 03/07/2023 is that collect?
As per the outcome letter, I have a valid scheme claim of £1,035.09, writing off my outstanding loans of £384.30, leaving £650.79 which 20% will be paid next yr. However my current outstanding loan is £324.30 with a difference of £60 which verbally on the phone the lady said I should get that refunded back to me and the outstanding balance on the portal should shows zero very soon. How long shall I wait to chance the £60 and ask for the loan to be clear on the portal? Thank you
Sara (Debt Camel) says
From what yo7 have said, I think the two lots of £69 should probably be refunded in the next month, but why not ask Morses this?
SP says
Thank you Sara!
I will give Morses a call tomorrow regarding the two lots of payment which I have made.
Hugh mcglynn says
Hi my mother had countless loans with morses she was a pensioner sadly she died 6 years ago can I claim on her behalf or not
Sara (Debt Camel) says
Yes you can, but sometimes in this situation you may have trouble providing any evidence.
Tracey says
Hi, I just wondered why Morses are only paying 20% compensation fees. Surely they should be paying 100% not just a portion? I am due a payout but losing a huge chunk and I have had several loans in the past. The value of those loans is much more than the 20% they are offering.
Sara (Debt Camel) says
Because they have set up this Scheme which legally allows them to pay such a small amount. It is a disgrace that they have been allowed to to do this and still carry on in business.
Tracey says
Wow, that’s bad. But nothing surprises me with companies like this.
Sara (Debt Camel) says
Yes. The best revenge is never to use them gain and tell all your friends about this.
Also look at what other high cost debts you have had – loans, credit cards, catalogues, overdrafts – and think about making affordability complaints about them too.
Tracey says
Thankfully I dont use Morses anymore and don’t have a lot of debt. But do have one unaffordable creditor, how do I make an ‘affordability complaint? Thanks again.
Sara (Debt Camel) says
What sort of debt is that one? I have different template letters.
Tracy says
Sorry I should have been more clear, its a credit card debt.
Sara (Debt Camel) says
See https://debtcamel.co.uk/refunds-catalogue-credit-card/
bianca says
i want to make a compensation claim can u give me the contatc details as its asking for an id reference and i dont have it
Sara (Debt Camel) says
See https://www.morsesclubscheme.com/contact-us/
Kerry says
I still haven’t received my outcome but my debt with them is wiped is it normal to still be waiting for 1
Emma says
I have received the email today also requesting my bank details stating they owe me just over 20k , prior to this I did receive and email stating that it was a substantial about that they owed me I think it’s a bit odd they are asking for bank details now
Sara (Debt Camel) says
The hardest admin task in these Schemes is getting hold of people’s current bank details. It makes sense to ask now.
Tock Ticking says
Is it best to go through the scheme or go through the ombudsman for what you feel you are owed.
Sara (Debt Camel) says
You don’t have a choice. If your loan was given after 2 August 2022 you complains to Morses nd then go to the Ombudsman if Morses rejects the complaint. If you loan was before that date you have to make a claim to the Scheme and will not be ble to send it to the Ombudsman if it isn’t upheld in the Scheme.
Maria Seabrook says
I had an email about this scheme and signed up. I have heard nothing since signing up but this month when I went to make my regular payment I found I only owed £4.99 it looks like the interest has been wiped but I have had no email or letter confirming this.
Anonymous says
I have received an email from Morses. My email asked for my bank information and also said what I would receive. However mine does not say I will receive only 20% of the value. It also does not say this will be paid within 30 days. Mine has 2 figures which is not clear HM I will be paid. I can’t upload as its too much info. Can you help me by way of which figure is the payment to be made to me? The claimn states it was upheld as unaffordable or unsustainable
Sara (Debt Camel) says
Can you just copy in here the bits with the 2 figures?
susan pocock says
I just had a message saying there was an update and to log on to the portal where only 1 of my loans was upheld and they asked for my bank details it doesn’t say anything about when the money would be paid
Sara (Debt Camel) says
how many loans did you have from them?
susan says
Over the years too many to recall but I think there’s like 9 on this claim form
susan says
I just looked 17 from 2007 loads before that as well
Anonymous says
Has anyone received their VREQ refund yet? I got my refund for over payment but not the promised amount for VREQ
shane says
hello i made a claim for affordability to morses club last year i had 13 loans they upheld 3 and not the rest i applied to there scheme and said i was to be paid £1063 pounds but because i had already had a settlement that was above that amount im entitled to nothing . As my first claim was for affordability and they dismissed 10 loans is there anything i can do or have they got away with it . form my first claim to within 6 months they admitted that all there loans where subject to miss selling .
Sara (Debt Camel) says
i had 13 loans they upheld 3
How large a payout did you get?
i applied to there scheme and said i was to be paid £1063 pounds
How many loans was this for?
form my first claim to within 6 months they admitted that all there loans where subject to miss selling .
They have now upheld all your loans as being unaffordable in the Scheme?
susan Pocock says
I’ve just reread the document and it says I had 1 valid claim it also goes on to say however our records show the loan was written off/sold on and the balance was greater than the money they owed me so was offset against that
So I’ll get zero
What a joke I’ve never not paid never had it written off sold on
If that was the case why give me another 16 loans after that
Sara (Debt Camel) says
Ok so there will be an appeal process in the Scheme. I suggest you use it and say (a) you know nothing about any loan that was writ off or sold and (b) a lot more of the other 16 loans were also unaffordable and you would Like this relooked at. The continuous repeat lending was because repaying one loan left you so short of money you had To take another loan to get by.
susan Pocock says
Thankyou I will do. I have already had a payment in the past for other loans with them that’s nit to do with the scheme so I sort of guessed I would get much from this scheme but I’ve never had one sold on or witten off so I’ll go on the app now and appeal
susan Pocock says
I’ve just done it had an email saying they will be on touch within the next 30 days