On September 13, Instant Cash Loans (ICL) updated the information about the Scheme of Arrangement it is asking customers to vote on, saying: Over the previous weeks, we have been refining how we will assess complaints made to us in the Scheme, and there have been some important developments, which might affect how much consumers might get in the Scheme. This Scheme will affect the 2.6million … [Read more...]
Will the Money Shop really pay 80% of your payday loan refund?
UPDATE On September 13 ICL put an update on its website to say: Over the previous weeks, we have been refining how we will assess complaints made to us in the Scheme, and there have been some important developments, which might affect how much consumers might get in the Scheme. It has clarified how it will assess claims for refunds, accepting all loans over 6 years and more claims in general. … [Read more...]
Money Shop – redundancy plans and stores closing
UPDATE - June 15th Money Shop to close – two million customers will be informed On June 21 the Daily Mail reported that : In a letter sent to employees and seen by This is Money, ICL said it plans to close or sell off all of its UK stores following 'poor financial performance' and an 'unprecedented number of customer complaints'. The Money Shop has already shut down or sold … [Read more...]
Refunds from Payday UK/Express & the Money Shop (old article)
UPDATE On July 15, it was reported that the Money Shop is to close. This has been confirmed on July 17, when the Money Shop website was updated with details. See Money Shop to close – two million customers will be informed for details of how this will affect existing complaints. That is the best place for all discussion from now on and I am closing comments on this page. If you had … [Read more...]
Payday UK stops lending after more than 10 years
Payday UK has stopped offering loans online or over the phone according to its website. They are one of the oldest and largest payday lenders in Britain. Payday UK is a brand name of Instant Cash Loans Ltd. The other online lending brands in the group, Payday Express and Ladder Loans, have also withdrawn from the market. The group's Money Shop business is unaffected, as are their smaller … [Read more...]