Debt Camel

Answers to questions about debts and credit ratings - in plain English!

  • Home
  • Debt refunds ▾
    • Large loans
    • Overdraft refunds
    • Catalogues & credit cards
    • Car finance – affordabilty
  • Debt solutions ▾
    • Debt Management Plans
    • DRO – Debt Relief Order
    • IVAs
    • Bankruptcy
    • Payment arrangements
    • Compare 2 solutions
    • Help if you can’t pay bills & debts
  • Car commission
  • Latest posts
  • About ▾
    • About Debt Camel
    • Media

Administrations and Schemes of Arrangement

These articles look at what has happened to some of the larger lenders when they have failed, either going into Administration or a Scheme of Arrangement.

Sunny administration. 500,000 had missold loans, only 3% refunds paid

  Background to the Sunny administration Sunny went into administration on 29 June 2020. It was one of the largest UK payday lenders. It joined a long list of lenders who have collapsed in the last nine months: QuickQuid, Moneybox 247, Swift Sterling, Piggybank, Nextcredit, Peachy, Uncle Buck. Sunny’s payday lending model was unusual, often lending very small amounts but very … [Read more...]

May 18, 2021 Author: Sara Williams Tagged With: Administrations & Schemes

Provident closes its doorstep loan operation after 140 years

On 10 May 2021, Provident Financial Group (PFG) announced that it was closing its home credit operation, also known as doorstep lending. Doorstep lending has been at the heart of Provident's business for most of its 140-year history. Agents would visit customers at home, giving loans and collecting weekly repayments. Now Provident says: In light of the changing industry and regulatory … [Read more...]

May 10, 2021 Author: Sara Williams Tagged With: Administrations & Schemes

Provident’s Scheme to cut refunds – background & voting

UPDATE This article gives the background to the Provident Scheme to massively reduce the refunds it is paying, the scheme proposal and the voting arrangements. On 4 August 2021 the Scheme was approved in court. See Provident Scheme –  claim a refund for details of the scheme claims and payouts. In March 2021 Provident Financial Group (PFG) proposed a Scheme of Arrangement to reduce the … [Read more...]

April 22, 2021 Author: Sara Williams Tagged With: Administrations & Schemes

No set off in a Scheme/Administration when debt had been sold?

In 2021, the Instant Cash Loans (ICL) Scheme Arrangement, Money Shop, Payday UK and Payday Express customers whose debts were sold to PRAC Financial (PRAC) have not been given set-off between their ICL redress and the loan they still owe. The same situation could occur with other Schemes of Arrangement and other debt collectors.  In 2022, it seems to have happened to some Provident loans that … [Read more...]

April 20, 2021 Author: Sara Williams Tagged With: Administrations & Schemes

Will Amigo’s Scheme reject too many claims?

This article relates to Amigo's first Scheme, which was rejected in May 2021. In December, Amigo published details of its proposed new Scheme. See Amigo's new Scheme for the latest news. Surprise, surprise, the new Scheme also gives no details about how many claims may be upheld. In 24 March 2021, Amigo announced some feedback from the Financial Conduct Authority (FCA) on its proposed … [Read more...]

March 31, 2021 Author: Sara Williams Tagged With: Administrations & Schemes, Amigo

Amigo’s 1st Scheme – key points to think about

This article relates to Amigo’s first Scheme, which was rejected in May 2021. See Amigo's second Scheme for the latest news. On 25 January 2021 Amigo announced that it is proceeding with the next stage of its proposed Scheme of Arrangement and published the formal Practice Statement Letter (PSL) that describes the Scheme for the customers affected. This article looks at seven points … [Read more...]

February 2, 2021 Author: Sara Williams Tagged With: Administrations & Schemes, Amigo

Amigo – many customers may do better in Administration than a Scheme!

This article relates to Amigo’s first Scheme, which was rejected in May 2021. See Amigo's second Scheme for the latest news. When Amigo announced it was proposing a Scheme of Arrangement in December, it said: Amigo continues to explore alternative options but it is likely the alternative options would result in those with Redress Claims receiving considerably lower amounts (if any at … [Read more...]

January 24, 2021 Author: Sara Williams Tagged With: Administrations & Schemes, Amigo

Amigo first Scheme – my estimated numbers don’t look good

This article relates to Amigo’s first Scheme, which was rejected in May 2021. See Amigo’s second Scheme for articles on the second Scheme. When Amigo announced it was seeking a Scheme of Arrangement on 21 December 2020, I said there were very few details and asked some questions. On 25 January more information about the Scheme was given. But there weren't any of the useful numbers I … [Read more...]

December 29, 2020 Author: Sara Williams Tagged With: Administrations & Schemes, Amigo

Amigo seeks refuge from refunds in a Scheme (December 2020)

UPDATES In May 2021 the court rejected the Amigo Scheme accepting the arguments of the FCA that it was not the fairest that could be proposed to customers.  See Court rejects Amigo Scheme of Arrangement for details. In December 2021 Amigo published the proposals for its Second Scheme. See Amigo's new Scheme for the latest news. Amigo announced on 21 December 2020 that it is seeking … [Read more...]

December 21, 2020 Author: Sara Williams Tagged With: Administrations & Schemes, Amigo

Wageday Advance – administration completed in 2020

Wageday Advance (WDA) in Administration - latest news for borrowers with affordability complaints

Summary of the administration Curo Transatlantic Limited (Curo) had two UK lending brands: Wageday Advance (WDA), a mid-sized payday lender; and  Juo Loans, a  small guarantor lender. Curo entered administration on 26 February 2019 because of the number of payday loan affordability complaints they were receiving. They appointed KPMG as Administrators. The Administrators … [Read more...]

May 20, 2020 Author: Sara Williams Tagged With: Administrations & Schemes

  • « Previous Page
  • 1
  • 2
  • 3
  • 4
  • Next Page »

I post regularly on Instagram

Follow me!

Help with your debts

Recommended places for debt advice

Get an email after a new article:

About Debt Camel

This is the personal website of Sara Williams.

More about Debt Camel.
Privacy policy and Comments Policy
Contact (not for debt advice)

 

Copyright © Debt Camel 2025