The administrators say people may be allowed to submit claims in November 2020, if sufficient funds are available in the Administration for a distribution to be made to unsecured creditors. The administrators will also explain then what people who have already submitted claims, or who had claims agreed but not paid when the company went under, need to do.
But that “if” clause is important. The administrators are saying that there may not be any money to distribute, so in that case there would be no point in people submitting claims.
This is in line with the Administrator’s Proposals published in August which said:
Based on current estimates, it is uncertain whether there will be a dividend to unsecured creditors. As a result, at this stage we are not adjudicating customer redress and others unsecured creditor claims.
I don’t know how likely it is that there will be no money left. It may just be the administrators being very cautious. It may depend on how much they have sold the loan book to Perch for.
But even if there is no money to pay out, many Sunny customers will be concerned that their claims should be assessed as they will want unaffordable loans removed from their credit record.
Background
Sunny was a large UK payday lender. See Sunny heading for administration for the background to the decision to go into administration and other Sunny articles.
Elevate Credit International Limited (“ECIL”), which traded as Sunny, 1 Month Loan and Quid went into administration on 29 June 2020. KPMG were appointed as Administrators.
Sunny joined the long list of lenders which have failed in the last year because of the increasing refunds to customers who had been given “unaffordable payday loans”: QuickQuid, Moneybox 247, Swift Sterling, Piggybank, Nextcredit, Peachy, Uncle Buck.
Administration is not a good result for customers – the FCA should act
Although I am encouraging people to put in complaints, they are now not going to get the full amount of compensation that FOS would have assessed.
This is not an acceptable situation.
In the case of Sunny, the FCA has known for several years that Sunny was not making good offers to complaints. Why has the FCA allowed this to continue?
And why has the FSCS not been extended to cover customers who have been given unaffordable loans?
I listed my proposals in More payday lenders go under – was anything learned from Wonga? and they remain relevant now. With every high-cost lender that goes under, the need for action by the FCA gets more urgent.
Comments on this article are now closed.
Please leave any comments on: 500,000 Sunny customers owed refunds will get little or nothing
Steve says
Very disappointing having had a settlement agreed and accepted…..I guess its a sit and see process now and wait to see what pittance i now get presented with.
Adam Simpson says
Just found out good old sunny went bust .I rejected the first offer of £182. I was then waiting for the financial obdsuman gezza to give his answer .I knew I would of got more .so what happens now ? We all get £10. Lol
Georgina says
Gutted! First missed out with Wonga and now Sunny. Complaint currently with adjudicator who upheld my claim and was awaiting a response from Sunny. This is happening way too often,be lucky to see a few £ now.
Ed says
Same situation as yourself with upheld last week. I am curious (as you mention Wonga) do you know if the credit report changes are still likely to happen and it is just the redress that will be lost / reduced? I think the lesson here is for everyone to claim to all their lenders ASAP I waited far to long as didn’t realise it would be so simple.
Anna says
Hi Ed, I am lucky not to be a Sunny victim, however fell hard with Wonga. I am over the minimum amount we received however was wondering the same about the loans being removed from my credit report. Have you heard/read when/if this might happen?
Jan says
The adjudicator had just ruled on my complaint and sunny had made a much lower offer which I accepted. This is so annoying.
Laura says
Me too :( And Sunny haven’t addressed my credit report – they were supposed to remove one defaulted loan so I only had one showing, and what they have done is create another new loan, so it looks like I have three!!
Alessandro says
I was lucky, last year they have refunded me 12 loans for the value of 5k
frogman says
I was lucky enough to get balance wiped off and credit file adjusted only a few weeks ago.
Sara (Debt Camel) says
That shows how large some of these refunds can be!
Dd says
Absolutely gutted , should have had redress this week. Would have been financially life changing
Brendan says
Same situation settlement of £7333 After they kept dragging their heals after confirmation from the adjudicator weeks ago that elevate would now deal with me direct for settlement gutted is not the word just wish they could have been as quick coming back to me as they were if I missed a payment but suppose I will have to look forward to the money above minus the 7 at the start in 18 months time yippee!
Terry says
Afternoon guys
Had quite a few loans with uncle buck
Can I make a affordability complaint against them
Many thanks
Sara (Debt Camel) says
yes – but they too are in administration. Send a short email to info@unclebuck.tv
Paul says
If you do not pay back a current loan with them, what’s the consequences? missed payments on credit files? accumulated interest? defaults?
I’m thinking is it better to not pay back £500 now, than pay it off and then only receive pennies in 2 years time, when i was actually looking at >£5000 in compensation?
Sara (Debt Camel) says
The consequences of stopping paying are that:
– you may get some hassle from customer services
– a missed payment may be recorded on your credit record
– interest and charges could be added, but not a lot as the loan will probably soon hot “the payday loan cap” after which they can’t legally add any more.
You are quite right, it is better for you to stop paying.
If your claim for redress is upheld, the administrators will remove any negative marks on yiour credit record. In practice they usually delete the whole credit record as it is simpler. And interest and charges will be refunded so it doesn’t matter that they increased these.
The problem with not paying is that if you lose your affordability complaint, your credit record will be harmed and you will have incurred some extra interest. In your case if you think you have paid Sunny 5000+ ininterest is sounds very like you will your complain.
You may have a temporary problem though with your credit record until this is all resolved… for most people with a lot of payday loans the benefit of getting the loans removed in the end is probably worth it. If you were just amount to apply for mortgage of course you wouldn’t want to risk this temporary damage… but then youare pretty unlikely to get a mortgage with recent payments loans on your credit record at all.
MAR says
Hi Sara, im in the same position as Paul, i had 10 loans over the space of a year and racked up quite a bit interest and still owe them £700. I want to stop paying and waiting for administrators review, i previously submitted a complaint to sunny bt they rejected this and i never too kti to FOS. do i need to email sunny to advise that i am going to stop paying and submit a claim to administrators?
Bob d says
Hi Sara,
My complaint was not upheld with Sunny but then when I sent them some more information before sending to fos I had this reply last week, I only ever wanted the defaults removed from my credit record, do you think this will still be completed now their in administration?
Thanks.
Dear,
Thank you for your further email.
I can confirm, having looked into the matter further, that we would be willing to recall the sold loans (000000 & 000000), write off any remaining balances and remove these from your credit file as a goodwill gesture.
Our data protection team will provide your DSAR request and I can confirm they have 30 days in which to provide this to you, the latest you should expect this is 27/06/2020.
I trust this full and final outcome provides you with the outcome you required, however should you remain unhappy you do of course have full recourse with the Financial Ombudsman Service.
Yours sincerely,
The Sunny Team
Sara (Debt Camel) says
I’m sorry, I don’t know. You will need to ask customer services.
Luucy says
I’m with you there Dd, I was going to pay a vets bill with mine which has been a weight on my shoulders! It’s so annoying , I sent my complaint to Sunny back in October last year!
Sam says
I have a settlement offer with them, not threw the ombudsman but directly with sunny, will this still stand and will I still be able to pay it?
Sara (Debt Camel) says
Can I be clear, Sunny have agreed to your paying £X to settle an outstanding balance?
Sam says
Sorry I was not very clear! Yes the other week they emailed me with a settlement offer to clear the outstanding balance, and to be honest it is a good offer and would still like to take them up on it, can I still do this? Or do I have to hang on now? I still have the email showing there offer to clear the balance.
Sara (Debt Camel) says
You were clear, I just wanted to be sure I had understood it!
I think they will probably be happy to honour this, as you are paying them money.
Contact customer services and ask.
Terry says
Evening
Wonga owed me 17 and half grand I got £700 odd and wage day advance owed me 3 grand odd and got £178
What a joke
Matt says
For me, the investors should be paid as an unsecured creditor after the redress.
Again, corporate greed is allowed to win.
Sara (Debt Camel) says
do you mean the shareholders? They will get nothing… Secured lenders will get paid first – that is the nature of secured lending.
Sam says
Today I had a claim fully approved and finalised from the FoS and told them I accepted their final decision. They have since written back saying sunny have got 4-8 weeks to pay… Then later on today sunny have gone into administration. is this still legally binding As it was confirmed before they went under? This would have set me up to finally get out of debt, will be heartbroken if this happens now.
Sara (Debt Camel) says
No sorry. See the above article – you now have a claim against the firm in administration.
Josh says
So Sunny have wrongfully made me and others suffer for years, Ive finally, after over a year, had the FOS uphold my complaint- now this! What an absolute joke and complete injustice for us all, getting back pennies in the pound for all the pain we have endured. Don’t get me wrong, I’m happy they are no longer going to be offering loans to new victims, but there should be something (named insurance) that pays out to all those who have lost out. Sorry for the rant and thank you to debtcamel for being so informative about everything.
Robert says
I had the adjudicator uphold my claim and sunny had till 24th to come back with a offer? Am guessing I won’t hear back from them?
Sara (Debt Camel) says
probably not :(
Expect FOS to send your case back to the administrators to assess.
Nick MB says
It’s so frustrating.
My complaint went to FoS and was upheld, and I’d agreed a settlement. I’d been emailing Paul Baldry, who confirmed someone would be in touch by tomorrow to finalise the redress.
I am extremely angry, as I’ve put that money towards clearing my credit card, and now I’m going to have to be very frugal for the rest of the month.
marl says
where can you get i touch with sunny there ordinary emails dont work
Sara (Debt Camel) says
Why do you need to get in touch?
Laura says
Hi there
Does all prior borrowing stay on credit files for a lender that goes into administration, or is it wiped?
Thanks
Sara (Debt Camel) says
It stays there.
UNLESS you put in a claim that the loans were unaffordable and win it. In which case all negative marks will be removed and adminstrators often delete the whole records as it is easier.
How many loans did you have from Sunny?
Laura says
Absolutely loads! 50+ over the years. I complained and they upheld without needing ombudsman intervention, and they agreed to remove some. This wasn’t done so I contacted them and they’ve replied saying they will ensure it happens. I was hopeful that all borrowing may be erased to help my chances with a mortgage application but sounds unlikely. Thanks for coming back to me!
Brendan says
You can’t get in touch with either sunny or elevate they just send an automated email I’ve had this problem for weeks just shows they’ve known this were coming for weeks
Brendan says
Well after weeks chasing sunny and elevate for a response after the adjudicator had told them I accepted they’re redress offer,and after automated email after automated email both sunny and elevate have emailed me today explaining that any redress payment that has not been received will now not be paid,but the joint administrators will contact everyone who has had a redress claim.So there actually is someone at the other end willing to reply to your email unfortunately it’s after the horse has bolted modern technology hey ! You have to laugh how do these company’s get away with it maybe spare a thought for the CEO MD etc they’ve just lost their company but then again they were ltd so they’re really no worse off they will just move onto the next project under a different name with a different director.But I do feel for the working staff who have now lost there jobs and anyone else in any industry as these are hard times for a big percentage of us due to the current climate with staff being layed off and redundancies happening at a rate of knots. how a nice redress payment would have come in handy for alot of us but I’m sure the people at the top table will still be fine dining tonight apologies for the little rant
Sam says
I’ve had contact with them over the last couple of weeks via email if that helps
CA says
My complaint against Sunny has been with FOS since 6th January and now this happens 😡 zero response from FOS
Mark says
Same situation here. I know FOS is a busy service, but it’ś also impotent. I bet they get theirs £500 for assessing the case.
Sara (Debt Camel) says
FOS only gets paid when a complaint is closed. It will be an unsecured creditor in the administration for all its current Sunny cases, getting paid pennies in the £ like everyone else.
Martin says
There is a bigger problem I have noticed – emails on the FOS secure server (accessible from https://keys.financial-ombudsman.org.uk/) are disappearing after certain number of days (180ish). Technically speaking – at the moment I have no proof that my complaints to FOS against Aqua and Vanquis have ever happened.
Sara (Debt Camel) says
does this mean emails from FOS do not go into your own email box? I had no idea…
DM says
Hi Sara, thanks to your website I was lucky enough to get a £5700 refund at the start of the year from Sunny. I had 57 loans in total and offer was only from the 20th onwards. Although I was not happy with this I accepted as was a huge amount towards clearing other debts and a new boiler and was in fear of another Wonga situation and glad I made the decision (as probably would not have been settled now with FOS). Question is although I accepted the settlement do you thing there wound be any value to submit a claim now for loans 1-20 based on the current situation?
Sara (Debt Camel) says
I don’t know – why not come back in a few months when the administrators have published there proposals?
cyrilv says
Yesterday I wrote, and any reply I made disappeared, so i am asking again;
OK, I had a complaint against Sunny, lost, took it to FOS and lost. Fair enough, accepted that and not questioning it.
Thing is, I’ve been paying off that Sunny loan to a DCA at the rate of £7 a month since November ’17. What do I do if Sunny go under – do I stop paying the DCA?
To clarify your question from the other thread, Sunny sold the loan first to Motormile who in turn sold it to BPO in about 2017. It is BPO that are getting my monthly payments.
Sara (Debt Camel) says
You don’t owe Sunny anything, your debt to BPO still legally exists. You could put in a Claim to the Sunny administrators but it seems very unlikely you would have it accepted. I suggest you carry on repaying the debt collector.
Craig . says
Hi Sara
I have 3 more payments to make to clear 2 loans with Sunny. I have stopped my direct debit due to be taken out on 30th(tomorrow) .
I have no intention of paying my last 3 payments when the company had gone I to administration.
The receiver would just use my paymients to pay possibly 10% back to company creditors. Surely they can’t chase me if they have gone bust ?
Sara (Debt Camel) says
Yes they can.
Unless you think you have a good affordability complaint (how many loans have you had from Sunny?) or unless you can’t afford the repayments (in which case you need to ask for lower affordable payments) then it’s normally best to carry on paying.
Craig says
Hi Sara
Reading the emails of other Sunny customers about how they will be losing out now that Sunny have gone into receivership when they were owed money from wrongful lending. I find it hard that your advice to me is to continue to pay my monthly payments.
None of Sunny creditors will be getting what they are owed. Surely they will wind the company up and all deals are off ?
Craig
Sara (Debt Camel) says
A company being in administration does NOT alter the legality of the loans. Your debt legally exists and it is enforceable. and that it’s pretty unlikely you will win a claim for unaffordable lending.
It’s up to you if you want to stop paying it. It will be your credit record that is affected, extra interest may be added (though not that much as the loan will hit the payday loan price cap) and the debt may be sold to a debt collector.
William says
Hey Sara, I was due to be paid just a little over £2k and have already provided my bank details on 28/06/20. I am in hope they processed it and cannot revert the payment but I doubt it. I am very upset by this as I was going to use the redress to try and clear some of my debt. I was wondering if there was anyway of getting compensation from FOS, as they dealt with the whole matter very slowly to other payday lenders I have with them.
Surely they shouldn’t have allowed another whole month for any further information when they didn’t reply or provide it in any chances given from the very start of the whole FOS complaint right up to the Ombudsman. I started my complaint to FOS on the 01/07/2019 and a consultant came back to me on the 19/09/2019, which I declined as Sunny only partially upheld yet again for a little under £700. This went onto a ombudsman and didn’t actually get anything until 04/05/2020 with a provisional decision. I accepted the decision without needing to add anything further straight away but they still allowed till the 03/06/2020 for any further evidence or information, which Sunny obviously didn’t reply to. FOS then only gave a final decision on the 11/06/2020.
I just feel really betrayed by the whole process and with how Sunny was not being at all corporative. I apologise that this kind of turned into a rant.
Sara (Debt Camel) says
Rant away, a lot of people are feeling rightly very upset.
But I would be very surprised if you could get any compensation from FOS. Normally only 10% of adjudicator decisions have to go to an Ombudsman level. Ombudsman decisions take a lot more work from a senior member of staff as they are legally binding, they can’t just be pushed through quickly. When a lender like Sunny starts rejecting or making very poor offers to most adjudicator cases, a backlog builds up at FOS.
Nick MB says
I know how you feel. I’ve had similar circumstances. Paul Baldry told me that agreed redress would be finalised by today.
FoS dragged their heels, and gave Sunny excessively long time to reply to them.
My FoS adjudicator emailed today, stating
‘We’re aware it’s entered into administration – and that we’re looking at what this means for individual complaints’
So that probably means nothing.
Ellie says
I provided my details for an agreed redress of £5,493.33 on 17/06/2020 and have been checking my bank account constantly since as this could have wiped my credit card debt and allowed me to look for better living arrangements than I have currently. This is completely heartbreaking, I raised my case with the ombudsman on 29/04/2019 and got this close.
Nick says
After initiating a complaint in January, having it rejected and then going to the FOS, I was finally given an offer from Elevate Credit a few weeks ago, however it was only a quarter of what I was entitled to and the FOS agreed with this, so I rejected the offer. Haven’t heard anything since. If I had any idea of the imminent administration I’d have accepted when I had the chance.
I’m going to end up with virtually nothing aren’t I?
Truly gutting because I was depending on this money coming in. The timing is horrible. I really feel for everyone in this situation.
achantelle says
Hi,
I made a complaint to Sunny as did my partner individually around 2 weeks ago, I received an response 2 days ago to say they had rejected my complaint, and advising me to go to the FOS – however this is now not possibly as they have gone into administration only a day after?
Where do I stand with this, I was going to reply to the lender direct, advising them that I was not happy with their response and would take this further via FOS, but as I have gone to do so via revolver site that’s when I saw they had gone into administration!
My partner hasn’t had his response yet to his original email complaint – so where would he stand?
I had 2 loans one after the other with Sunny, my credit file would have shown them multiple Defaults, CCJs and DM plans for previous payday loans etc. I maintained payments, but couldn’t keep up – I missed 2 payments and upon checking my credit file can see they put a default on the file after this. My main aim with the complaint to be fair is to have the negative data removed from my file, and outstanding debt removed – by way of refund from interests. Is this worth pursuing?
Thanks
Amber
Sara (Debt Camel) says
how large were the two loans?
Achantele says
550 for the first taken 6th oct then £250 om the 10th oct .. 1st loan still outstanding. My credit file was poor woth outstanding lpans to others, defaults and CCJs .. my main issue is the 2 defaults they applied at the same time on each loan after 2 payments missed
Andy says
Hi Sara,
In a previous message you said, “Normally only 10% of adjudicator decisions have to go to an Ombudsman level. Ombudsman decisions take a lot more work from a senior member of staff as they are legally binding, they can’t just be pushed through quickly.”
I believe, I am currently in this 10% category. Sunny made an offer to me, of in the region of £2500, following the FOS adjudicator proposal. That said, all interest refunded as FOS suggested, would have been in the region of £10K+. If the decisions, with the Ombudsman decisions are legally binding. Shouldn’t the Ombudsman still review these if outstanding, and would this this make any difference to the outcome. I am sure you can appreciate, I have been through the entire process practically. I am furious, that I have constantly had to chase Sunny in responses to FOS and myself. Nor have they adhered, to any of the timescales se out by FOS. Utterly disgraceful from a business. The only communication, I have ever received from Sunny, was when I previously owed them money!
Nick MB says
I’m in a similar boat, Andy.
They ignored adjudicator, and it went to the Ombudsman, and at which point, Sunny got in touch with a decent offer. I accepted, and then went silent.
One of the higher-ups, Paul Baldry, replied to an email, advising redress would be finalised by today.
Such a devious company.
Ellie says
Hi Nick,
Did you get paid? I was waiting on £5,493.33 any day now… this is awful.
Thank you,
Ellie
Gareth says
Question about the reporting to CRA’S, as the company is now insolvent is this considered as a breach of contract between the company and myself,where they have now gone into administration what legal right do they have to report to anyone seeing as they have broken/breached the contract terms themselves?.
I find it grossly unfair that these companies are allowed to retain this data when they are the ones who are saying goodbye,it wasnt enough that they preyed on us all with poor lending ethos and yet they still will have a negative hold on us even after they are long and gone. In my opinion any lender that goes bust should remove all presence of any dealings with us as they no longer exist so neither should our history of lending with them.
They lost the right to report when they enter administration and the right to be forgotten should be allowed for all of us who are left in their wake.
Sara (Debt Camel) says
The credit reporting rules do not work like that.
If you put in a complaint about your loans, any unaffordable one will be removed.
Holly D says
I am furious. In the case of Wonga, i was due c£4,000 for interest paid, I eventually received £170. In the case of Sunny, I have paid £6,700 in interest and again will receive next to nothing. Apart from charging exorbitant rates of interest, Sunny constantly appeared to have ignored response dates and even the legally binding decisions of the Ombudsman, thus deliberately dragging out the process. This is not acceptable and is unfair, and the FCA MUST take action NOW to stop these shoddy practices. People seemed to get their ‘mis -sold’ PPI redress without being mis -treated in this way. A huge thanks to Sara, as without this site, these payday loan companies will continue unchecked.
Dd says
Has anyone received a previously agreed payout since Friday? Mine was agreed last Monday, I know I’m clinging on to something that’s hopeless really
Sara says
Mine was due Thursday. I got an email.off Sunny today saying if you haven’t received your redress you aren’t getting it now.
Tyler N says
The thing that annoys me even more the parent company “Elevate credit, Inc” is continuing to trade as normal regardless and they are one of the secured creditors of Elevate credit international ltd. So they have pulled out of the industry in the uk with excuses and still will get paid off first.
Its a total mess how the FCA allow them to do this, and a total mess for us left in the depressing situation of getting Adjucator or Ombudsman decision and now we all might be lucky to receive 5% of our claims in 18 months time. Same boat as everyone else i was excited about getting a decision recently in my favour after initially complaining in October 2019 to now continue to never be able to get on my feet, ive never had a payout in my life just mugged off for years with high interest rates and cycles of debt and every complaint I’ve thought about making, the lenders have already gone into administration. Finally a successful one and still ends up being a huge slap in the face just another miserable failure to experience.
My last hope is my affordability complaint with Drafty and ridiculous interest with loans 2 go. But i honestly have no faith in the FOS or FCA anymore. They are meant to protect us? FCA dont do anything just help protect lenders until its way too late for thousands of consumers in problems and the FOS drag their feet so long they let companies slip into administration before ever finalising our complaints.
Would a small claims court be a better option now?
Sara (Debt Camel) says
A court claim against Sunny is no longer legally possible.
Against Drafty and Loans2Go? The average length of time for a claim to get to court was over 9 months last year, and there will now be a longer court case backlog because of the pandemic… I have not seen anyone win a case like this, without a legal precedent to cite I souls strongly suggest you need legal representation in a case like this.For example, exactly what laws would you say the lenders have broken?
Tyler says
I thought the court process might of resulted in more costly but quicker results but it sounds like the FOS may still be the better option then. I have complained directly to the FCA asking about their conduct with Sunny and how the FOS agreed with 73% of customers complaints but this didnt raise any red flags to them, or the fact not a single inquiry once consumer losses were past their trigger points. What result, if any, can a complaint about regulator have?
Sara (Debt Camel) says
I don’t know.
Tyler says
Thanks anyway Sara, I know your inundated with questions.
Ive learnt hell of alot from this website over last couple years.
So thank you for all the hardwork you put in!
Sharon says
I owe £1200 in total to sunny as I have active loans , I have had 16 loans with them in the past . Would you say it’s better to continue paying back my loans or to stop
Sara (Debt Camel) says
I am assuming you won’t find it easy to repay the remaining loans without borrowing any more from any lenders.
16 loans is a lot – you would normally win an affordability complaint for at least the last few loans with that many.
(I say normally as it is case-specific. Say 14 of your loans were all finished more than a year before the current loans. In that case then the recent two would be treated as a separate period of lending so you might not get them refunded.)
On that basis you are likely to be better off if you stop paying Sunny now, put in an affordability complaint, and tell sunny you won’t make any more payments until your complaint is assessed as you have the right of set-off.
Sharon says
Hi
I have put in an affordability claim this morning and I will stop paying them . Yes 16 loans were paid off already and I have a few outstanding so I’ll stop paying them .
Dd says
Just received from Sunny,
I was too late !
Thank you for your email.
If you have received an offer of redress but have not yet been paid, unfortunately you will now not be paid due to the company having entered administration. Your redress claim will be an unsecured claim against the Company.
The Company holds records of customers who have redress claims that have been agreed but have not yet been paid, and the Joint Administrators will contact these customers in due course with further information relevant to unsecured creditors of the company.
You do not need to take any action at this stage.
Yours sincerely,
The Sunny Team
Matt says
Hi Sara
No not the shareholders, those that lent to the business would have known what the money was for.
Moreover, and most importantly, the parent business Elevate Credit International Credit Inc, is guarantor of the loutstanding loans.
Surely there is a case for them to repay the shortfall after any claims regardless of administration. Seems they can get away with this without any recourse.
That’s just wrong.
Matt says
Hi Sara
Some of my prior comments haven’t been published.
However, it would be interesting your view point on starting an action on the parent company, who have a guarantee on payment of the loan monies borrowed to lend to Sunny customers.
Surely this could be looked into?
All the parent has done is washed its hands of the responsibility of paying redress and been able to carry on trading.
Just doesn’t sit right.
Any thoughts??
Sara (Debt Camel) says
Ethically you and I may think what they have done stinks.
Legally I am not sure what grounds you would have for any court action against the US parent. You would need professional advice on this, I am not a solicitor and can’t comment.
Matthew says
I’m gutted about this! Second time this has happened to me after what happened with Wonga. Where do I stand with Sunny with me turning down their first redress offer in May and my case was about to be handed to an FOS adjudicator next week? Thanks
Brian says
Devastated is an understatement. Redress was meant to be paid in the next two weeks. Can’t now face the implications of not getting the money. Just gutted that they can get away with this. Exactly the same happened with Wonga. Just feels like those of us most in need are once again being punished. This is so wrong
Chris Dickinson says
A real shame about those in need not getting their redress, but the biggest win to come from this is another one of these companies going under. Look on the bright side, they can’t cause any more harm to people and I would happily give up my redress for that outcome.
Simon says
Hi Sara,
Similar question – my complaint was escalated to the FOS after being declined by Sunny. It’s unfortunate that any redress will be minimal but it was less about the money and more about repairing my credit file.
I had 34 loans over a two year period – If I am successful in claiming against the administrators is there a good chance they will adjust my credit file?
PS It’s thanks to you and the guidance on this site that I successfully claimed a few grand from Lendingstream a while back – cheers
Sara (Debt Camel) says
With 34 loans I would hope you have an excellent Chance of winning a claim. If you do, any negative marks will be removed from your credit record. And it may well be the loans are simply deleted as that is easier for the administrators to do.
Jane says
Ahhh thank you for this information. I also have 34 loans over 2016/17 and i desperately just need them deleted off my credit file so i can buy a house!!
Sara (Debt Camel) says
The bad news is they aren’t likely to be deleted for at least a year…
Darren c says
Gutted there 8 week to respond was up on 2nd of July be lucky to get pittance now I’ve a complaint against satsuma with the fos at the moment hope they don’t cheat everyone and call in administration
Neil Sillery says
Hi Sara, bizarrely I have just had an email
from Sunny saying…
Thank you for your email.
Having looked into the matter further for you, I can advise that we are unable to change the final outcome we sent to you. I am sorry that we have ben unable to reach a mutually acceptable outcome on this matter.
Yours sincerely,
The Sunny Team
They had already communicated this and I had escalated my compliant to the FOS. Ed Boyle from KPMG messaged me on Monday in reply to an email in which I raised my disappointment that I would be added to a long list of secondary creditors… Can you imagine why I revived this totally moot further email from Sunny? Thanks, Neil
Sara (Debt Camel) says
It sounds like some automated process.
Matt Bird says
I’ve raised my concerns with my local MP to see if there is anything we can do against the parent business that has basically cut loose its responsibilities and ran!
I’m interested to see what happens now…..as the parent business claims its socially responsible and ethical!
Tyler says
I lost out on a good refund too so i registered a complaint directly to the FCA asking similar questions, my local MP was going to be my next port of call, I’ll be interested to see what input, if any they can add for us!
Paige says
Hi
I’ve just put complaint in now as I wasn’t aware of all this and the interest.
I’ve had 10 loans with sunny alone in the last 12 months, I’ve used sunny for years and I would personally like the last 2 loans I have with you wiped of any more payments and taken off my credit score. Regardless of going bust I think I’d fall into the category of needing to be refunded my interest and you can use my balance to put towards my refund.
Thank you
Paige
Sara (Debt Camel) says
Hi Paige – checking that you have sent them complaint to Sunny? Posting it here doesn’t count as sending in a complaint.
Nath says
I finally had my final decision from ombudsman on the 16,06,2020 who upheld my loans from 11-39 I accepted this strait away. I’m assuming I will not see any off this now is that correct?
Chris says
Sadly, you are correct. You will be an unsecured creditor and get so many pence in the pound when the administrators have wound up the company.
Nath says
Is there not anthing I can do like take it further I done mine through a claims company as well as didn’t have the time can’t they do anthing further?
Thanks for the reply
Scott M says
Hi, having read all the comments I’ve now sent an affordability claim email to Sunny. I have had 10-12 loans in the last year and have frequently taken another to help me repay the previous, typical vicious cycle. I have around 280 left to pay but I have been struggling to pay these so how can I stop whilst awaiting a response about affordability? I can’t find how to stop payment being taken from my online banking. Any further advise would be much appreciated.
Sara (Debt Camel) says
10-12 loans in a year doh Ds like a good complaint.
If you are struggling you should definitely stop paying and tell Sunny you want Your complaiassessed first as that will repay what you owe.
To cancel the payment you need to phone your bank and say you want the CPA to Sunny ( or Elevate Credit) cancelled. Do this, don’t trust Sunny to be nice and stop taking the money.
Andrew says
Yeah this does not surprise me at all, after months of my complaint being with the FOS an adjudicator found in my favor. Not going in to details but was for a few loans they should have not loaned to me.
Wouldn’t mind knowing if its possible to sue the MD (s) as they still have their money.
Sickens me how a company can keep people in debt for years and then just pull the plug, and have no accountability.
Calm 1 says
The law needs to be changed and the Ombudsman sitting on their case load for the best part of 12 months is another travesty. With these types of complaints, time is really of the essence and its clear the Ombudsman can’t get through its load quick enough.The world quite simply isn’t idealistic and I’m gutted for those who are losing out yet again.
I rejected an offer from Sunny back in Feb this year as I expected 3 times that amount and I wasn’t in dire need of the money thankfully (circumstances do change for the better folks). If only, things could be undone.
Sunny really was the last one for me having lost out similarly to QQ, getting a decent outcome against Mr Lender and now this with Sunny.
Really is just sickening.
All the best everyone.
Calm 1
Sara (Debt Camel) says
To be boringly practical, if FOS had got through the cases faster, Sunny would have folded 18 months ago.
Calm 1 says
Not necessarily Sara, it wasn’t just the uptake in FOS complaints (however fast or slow) – it was also the fact that Sunny has had 20,000 less customers in the first quarter of 2020 than last year! Business has clearly been going downhill in any event…
But even if FOS dealt with the complaints with speed and more folk got paid out their redress, its ultimately off the back off others who are still suffering at the hands of these loan sharks.
As others have said, it’s 1 less blood sucker out there anyway!
Redress or not, it’s good riddance.
Sara (Debt Camel) says
The drop in customer numbers has been because they have been withdrawing from the market because of the complaints situation “not being clear”. They have commented that their cost of acquisition has dropped with QuickQuid and other lenders going bust.
But even if FOS dealt with the complaints with speed and more folk got paid out their redress, its ultimately off the back off others who are still suffering at the hands of these loan sharks.
As others have said, it’s 1 less blood sucker out there anyway!
I completely agree. My point is that FOS has no way of forcing these things through faster.
Emily says
Lets not forget that Elevate put Sunny into Administration likely because of the amount of complaints being won.
If the Ombudsman had made decisions faster then Sunny going into Administration would have happened faster. Probably more people would have lost out ultimately.
This slow trickle of cases through the ombudsman probably allowed more people with smaller cases to settle at amounts they were happy with in early stages. Had it been an onslaught of 1000s of cases a month being won at Ombudsman stage I think Sunny would have pulled the plug far sooner. Their ‘tactic’ of offering smaller redresses and delaying probably actually helped 100s of people.
Obviously this is all conjecture, I have no figures to back this up. Just my opinion and I know it won’t be particularly comforting to anyone with string claims they will only see a tiny % of now.
Sara (Debt Camel) says
allowed more people with smaller cases to settle at amounts they were happy with in early stages
Sunny habitually gave VERY poor offers. People may have taken one because they didn’t know how much they were entitled to, because they were desperate for any cash at all or because they were scared Sunny would go into administration. None of those situations to me can be described as the customer “being happY2 with the sunny offer.
Their ‘tactic’ of offering smaller redresses and delaying probably actually helped 100s of people.
but it also allowed Sunny to carry on giving out unaffordable loans to many more people and trapping them into debt.
I don’t agree this approach was good for consumers at all. A small number of people got a small amount back from it – not worth the ruined lives.
Fred says
Hi Sara, Can I still make a complaint to try to remove entries on my credit file.
I had 26 loans with them and they refunded me from loans 10-26 and removed them, but I wanted to try again for the first 10,
I also have similar with Peachy who I had a complaint in with the FOS before it happened. Thanks
Sara (Debt Camel) says
It is very unlikely FOS would have said to delete all your loans. You can send the administrators a complaint if you want.
Stephen Westrip says
I had made a complaint against Sunny. They offered me an amount that I rejected and then went to the FOS. They told Sunny that they needed to consider more loans and gave them details of which loans and the simple interest to use. Eventually (!!) which figure/calculation will the administrator use for their dividend calculation – the initial offer or FOS’s revised amount, that Sunny had not accepted as they went into administration in the time frame the FOS gave them to respond?
Thanks, Stephen
Sara (Debt Camel) says
This is all guessing at the moment but I expect the administrators will come up with their own “calculator” that tries to mimic what FOS might have decided.
Jordan says
Can you contact the administrators now or does it still have to go through Sunny?
Sara (Debt Camel) says
Through Sunny customer services.
Ruth says
Hi Sara, apologies if this has already been answered but my partner had an ombudsman rule in his favor with a final decision on a Sunny complaint just before the administration announcement.. would he still get this payment or would he have to go through the administrators now? Thankyou in advance
Sara (Debt Camel) says
He isn’t going to get paid now. He has a claim in the administration and will probably only get a small percentage in a year or more.
H says
Hi,
i complained to Sunny and was rejected last month. I didn’t get around to sending my complaint onto FOS. (i know you only have 6 months to do this after being rejected). Do i still send a complaint into the FOS or do i wait for a claim portal to become live?
Cheers
Jordan says
I asked Experian and Sunny to remove the 2 defaults I had with Sunny after the Ombudsman upheld my complaint.
Experian contacted Sunny and was told that my complaint wasn’t upheld and wouldn’t be removing them.
Basically I got nowhere to go now and just have to wait years for the administration process to finish.
Sara (Debt Camel) says
Was this a final decision from an Ombudsman or an adjudicator decision?
Jordan says
Ombudsman’s final decision. Sunny aren’t taking responsibility for anything now, not that they did beforehand. I’m not sure what to do now.
simon says
email from the ombudsman regarding my complaint with Sunny….It opens explaining that Sunny are in administration etc
“We’re looking into what this means for your complaint and the next steps we’ll take.
We’ll contact you once we receive information on how we’ll assess your complaint.”
Is this the generic wording used? Doesn’t seem all doom and gloom and suggests there’s maybe another angle?
Or is this just their way of softening the blow prior to the “Sorry, nothing we can do” email?
MR says
I had the same e-mail from the time QuickQuid went into administration. The follow up e-mail was to tell me that the administrators now have my complaint and any further news/updates will be provided by them. I Feel sorry for people as I completely understand what you’re going through. QuickQuid agreed with FOS after an 18 month wait, only to be left with a couple of pence to the £. That’s probably going to be next year.
David says
Hi Sara
I had 14 loans with Sunny, however I did not follow up my initial complaint and after 6 months elapsed the FOS said that I would be entitled to significant redress but due to the delay I will not receive it. My question is, now they are in administration, will I receive redress albeit 4-5p to the £?.
Thanks
David
Sara (Debt Camel) says
I think you will probably be able to send in a Claim to the administrators when they put a page live to do this. I suggest you check back in a few months times.
Cheryl Edwards says
Hi Sara
I have just checked my credit report and found ‘elevate’ has added 2 accounts to it? I haven’t had a loan with them for at least a year, why have they put old loans on my report?
Sara (Debt Camel) says
I don’t know. Do you owe money on these loans? Had you had others from Sunny before them?
Squiggle says
I’ve had exactly the same. All old closed and paid off loans removed and then re-added with a slightly different name -ELEVATE instead of elevate. Is this going to affect our reports. I’ve been trying to build my credit and this won’t look good!
Cheryl Edwards says
Hi Sara, thanks for your reply
I haven’t had a loan from them in 2 years (I checked) and don’t owe any money all loans were settled on time in full. I checked my report yesterday and its says 2 new accounts added and they were both Elevate, a bit worried as I’m building my credit score and was doing well. Haven’t a clue why they have now added these….🤔
Thank you
Sara (Debt Camel) says
How many loans did you have from them before these two? If it was a lot, it will be worth you putting in an affordability complaint – you may get little money back but any loans that are upheld are likely to be removed from your credit record.
If the 2 “new” accounts added were repaid on time they won’t have hurt your credit score and more than 2 years ago probably no-one will care… But if you would like them gone winning an affordability complaint is your best chance.
Cheryl Edwards says
Hi Sara
I have just checked again and it seems they have added 5 accounts?? (old loans I assume) I have to go to work now but will pick this up later with you if you don’t mind.
Thank you!
Sharon says
Hi
I’ve recieved an email from elevate for sunny saying I will have a final outcome for my affordability complaint by 26/8/2020 . Here’s hoping I get something back .
Jane says
Hello,
I have a total of 34 loans settled with Sunny. Apart from one in 2018 and one in 2019, 32 of them were rolling loans month by month in 2016/17.
What should I do please? I am not so bothered about getting any refunds, I just want them all deleted off my credit reports as I am trying to apply for a mortgage.
Thank you,
Jane
Lauren says
Hi,
I know this has been answered in various forms but I’m nervy about stopping payments to Sunny if the administrators don’t uphold my complaint so would really appreciate an opinion.
I have had 23 loans with Sunny in 22 months with a combined rate of interest paid in the region of £2,000. I have been in debt constantly over the last 22 months.
I still owe £330 and am up to date with my payments on loans 20-23. Should I stop paying or continue? I can manage the payments but only just. It sounds like I have a reasonable case for unaffordabilty but I would hate to end up with defaults and have my credit score damaged for a further 6 years as it’s only 20 months away from being clear of defaults.
Sara (Debt Camel) says
With 23 loans in 22 months is seem likely that at least some of them will be upheld by the administrators. You will be better off financially then if you stop paying.
If these include the final loans then any negative marks will be wiped out as the and the loans will probably be deleted.
If you could pay the loans easily then you have to decide if saving the £330 is worth the temporary damage to your credit file and the risk (probably small) that you would not get the loans removed by the administrators.
But if you can only just manage the repayments, then it sounds like there is a significant risk that you would have to borrow again. Incurring yet more interest. In that case it seems safer to stop paying. At least then you know you are out of the payday loan trap.
Luke says
Hi Sara,
Back at the end of May I accepted an offer from Sunny that refunded the majority of the interest and they agreed to remove all information pertaining to the mis-sold loans from my credit file. While I got the refund before the collapse (thank god) the loans are all still present on my credit reports. Do you think they will still be removed as agreed, or will I have to wait for the outcome of the administration process first?
Thanks for all your help.
Sara (Debt Camel) says
I don’t know, have you asked them?
Squiggle says
I spoke to sunny about this the other day. Ring customer services and they give you an email to email with proof they are still there and they will remove them
Mat Hall says
Hi guys I currently owe Sunny roughly £700 through 4 different loans. Was caught in a payday loan loop a while ago and taking some out on same day as paying back and easily had 10+ within a year from these. Should I continue to pay or hold off and see what the affordability complaint does for myself?
Sara (Debt Camel) says
that is a large debt. Can you afford to repay the loans and not leave yourself so short that you have to borrow from another lender?
See my reply about a similar situation to Lauren above.
Mat Hall says
Yes sounds a similar situation to Lauren too. Would probably be safer to stop paying to avoid falling further into a payday loan trap. Thanks for the help
Neve says
Hi all, sorry if I’ve missed this on this thread but wondering if anyone else has had the same issue… I have noticed that this month 11 new ELEVATE loans have been added to my credit report? I settled with sunny about 9 months ago and had refund paid and I have no outstanding balance due to them so wondering what’s going on!!? I’m working really hard to build my credit score back up and this has brought it back down by 30 points. Any help or info much appreciated
Jan says
Me to. No loans with sunny for over a year. Never defaulted on one. My claim had been agreed just waiting for a payout, then into administration they went. Now plastered all over my credit report are 18 ELEVATE loans added. I am furious. Pity they hadn’t been a bit quicker with their admin when they were solvent.