Curo Transatlantic Limited (CTL) had two brands:
- Wageday Advance (WDA), a mid-sized payday lender; and
- Juo Loans, a small guarantor lender.
CTL entered administration on 26 February 2019 because of the number of payday loan affordability complaints they were receiving. They appointed KPMG as Administrators.
SpeedyCash was also part of the same group as Wageday Advance. It was a brand name of SRC Transatlantic Limited which went into administration at the end of February 2019. See SpeedyCash in administration – send affordability claims by end July 2019 for the separate administration proposals and arrangements for SpeedyCash.
Contents
Latest news
- The Administrators published Proposals for the administration in March and a set of FAQs. They can be downloaded from CURO Transatlantic Limited – in Administration.
- The proposals were approved by a ballot of creditors.
- Outstanding loans, less any compensation calculated, have been sold to Lantern.
- The Administrators have used their Claims Calculator (see below) to decide which WDA customers may be owed compensation for inappropriate lending;
- All customers owed compensation are being sent emails inviting them to submit a pre-completed Claim. Claims must be submitted by the end of August 2019;
- It is expected that payments will be made before the end of May 2020.
Background to the administration
Like other payday lenders, WDA had seen increasing numbers of affordability complaints for several years.
In June 2018 WDA asked KPMG to look at a Scheme of Arrangement (“Plan A”), which would cap its liabilities for historic complaints. At this point, WDA was already struggling with affordability complaints – the cost of refunds, the administrative overhead and the FOS fees.
From June-September affordability complaints increased significantly, with 16,000 being received during the four months.
In October WDA asked KPMG to also look at the alternative of a sale of the business (“Plan B”). CTL’s parent company, the American subprime lender Curo, said:
we do not believe that, given the scale of our U.K. operations, we can sustain claims at this level and may not be able to continue viable U.K. business operations without action by the U.K. business to reduce the risk of claims relating to historic lending.
In the autumn, WDA stopped responding to customer complaints within the allowed 8 weeks. Many customers did not receive a response for 16, 20 or more weeks.
As part of the planning, a Claims Calculator was developed to assess all previous lending. This estimated that the total potential liability for affordability complaints could be as much as £223m.
In January 2019, Curo announced it had asked the FCA to say whether it would object to a Scheme of Arrangement which would cap CTL’s liabilities to pay refunds for unaffordable lending at c £18 million. The Administrators admit that:
redress creditors would … have faced a very significant shortfall against the value of their claims in the Scheme.
It is hard to imagine why the FCA might have thought this was a reasonable offer.
On 19 February, the FCA said it needed further information about the proposed Scheme. At that point, CTL decided it was unlikely to get Plan A approved. It decided to appoint administrators and proceed with Plan B. At this time it stopped offering loans through the Wageday Advance website.
Immediately after administration – was your account sold to Shelby?
The Administrators announced a sale of much of CTL’s infrastructure to Shelby Finance for c £8.5 million. Shelby currently trade as Dot Dot, a very small payday lender, and are a subsidiary of the doorstep lender, Morses Club. This is known as a “pre pack” sale – it was all planned before the administration started.
50,000 CTL customers, including all Juo customers, have had their loans transferred to Shelby. You can check if your account was transferred by entering your details here.
The accounts sold to Shelby were considered to be “in good standing” with no arrears. The Administrators say “a small number” of people who were transferred to Shelby may get some compensation for unaffordable lending – those affected will get an email from Shelby about this. But most people transferred to Shelby will not be getting any refunds.
650,000 other CTL accounts remain with CTL. Many of these are accounts that have not been used for some time. Many current and old customers may be owed compensation for inappropriate lending.
Outstanding loans sold to Lantern in May 2019
No payments for outstanding loans were taken by the Administrators. Balances were frozen, with no further interest or charges added. Credit records will be corrected so no late/missed payments will be recorded because of this.
Many people with outstanding balances may have these reduced because of redress, see below.
In May 2019 the loan book – that is the legal term for all the outstanding loans – was sold to Lantern, a debt collector previously known as Motormile Finance.
If your loan has been sold, you will get an email explaining this. You will need to make a payment arrangement with Lantern for the balance outstanding.
I would expect Lantern to be understanding if you can’t make a high monthly payment. Don’t offer so much you will have to borrow from someone else to make these repayments. No interest will be added from here on.
Determining complaints and calculating redress
WDA stopped its normal complaints handling when the administration started,. It has not paid any refunds after administration, including refunds that were agreed before administration.
Under the Insolvency Act the Financial Ombudsman (FOS) couldn’t carry on with their decision making once a firm goes into administration. All WDA complaints with FOS have been returned to the Administrators to settle.
The Claims Calculator
The Administrators’ Proposals explain how they are deciding if a customer should not have been given some loans and what the compensation, which they call redress, is for those loans. Here is a brief summary.
The Administrators have put all loans from Wageday Advance, past and present, including those over 6 years old, through the Claims Calculator that has been developed.
This is being used to reduce administrative costs. If complaints were looked at individually it would significantly reduce the money left to settle the complaints which were upheld.
The Claims Calculator is intended to give roughly similar results to typical FOS decisions. A loan is determined to be inappropriate by the calculator if it fails any of three sets of criteria:
- affordable – looks at loan size, income and expenditure evidence;
- sustainable – looks at the number of loans, the gaps between loans, roll-overs and how much loan amounts increased;
- responsible lending – looks at what a CRA check showed eg defaults, debt management and numbers of other payday loans.
For inappropriate loans, a redress amount is calculated as a refund of interest and charges, plus 8% statutory interest. Adding these up gives a total redress amount for each customer.
If you have already had an offer or a FOS decision
The Administrators will set your redress amount at the largest of:
- what the Claims Calculator says;
- any Final Response offer from WDA; and
- the value of redress determined by the Financial Ombudsman.
Customers who still owe a balance
People who have a balance outstanding and who should get redress are getting an email from the Administrators with the subject Important information about your loan.
These emails are being sent to anyone with a balance and a redress amount calculated, even if they haven’t submitted a complaint. They started being sent out on 27 March.
The email has a section headed: Your provisionally adjusted outstanding balance which has the key figures. Now that the Administrators’ proposals have been agreed, these numbers are no longer “provisional” but final.
If you still owe money after this reduction
Here is an example of the key figures:
- Outstanding loan balance at 25 February 2019 per CTL’s records 420
- Less: Provisional balance adjustment (165)
- Provisionally adjusted loan balance 255.
If your redress is smaller than the balance, you will still owe some money – £255 in the above example.
Where someone has only had one loan, it looks as though the balance has been reduced to the amount borrowed less what the customer has paid so far. This is what FOS would have decided if the loan was unaffordable.
The Administrators will contact you in the next few weeks to give you the bank account details to make payments to. If you already have these details because you were in a payment arrangement, you can make payments now if you want.
The Administrators will be selling outstanding loans to a debt collector. If you only have a small balance left that you can easily clear, you may prefer to do that. Or you can plan to make an affordable payment arrangement with the debt collector.
If the redress is larger than the amount you owe
If your calculated redress is larger than your balance your email will look something like:
- Outstanding loan balance at 25 February 2019 per CTL’s records 240
- Less: Provisional balance adjustment (240)
- Provisionally adjusted loan balance Nil.
You will then get a further email (see below) saying you are owed redress.
If you are owed redress
You will be informed of the calculated amount
If you are owed redress the Administrators are sending emails with the subject Important information about your redress claim. These started to go out in early April.
These say:
- what your calculated redress amount is;
- that you are an unsecured creditor with a claim against CTL for this redress amount;
- there is a button in the email to Submit your Claim. This is very easy – it takes you to a form which is already prefilled with all your details and the amount.
- There was another button that lets you vote on the Proposals – the date for voting has passed and this is no longer relevant.
You will also get this email if you had an outstanding loan but the redress amount was larger. So if you owed a balance of £240 and the calculated redress was £1000, the balance would be reduced to zero and you have to submit a claim for £760 from CTL.
Payments will be made before the end of May 2020
The money the Administrators have left will be divided up between the unsecured creditors, including all the customers owed redress amounts.
You won’t be paid the full value of the redress because there will not be enough money. You will get a percentage, which is often described as getting some number of pence in the pound, for example “10p in the £”.
How much you will get will depend on:
- how many people submit claims. Some people may not bother or may not see the email from the Administrators; and
- how much money the administrators have to distribute to the creditors.
What has happened in other payday lender administrations has no relevance to the amount you may get. People who had refunds agreed before administration do not get any priority. This isn’t a decision by the Administrators, it is what legally has to happen.
The Administrators have said that payments will be made by the end of May 2020.
Credit records
The Administrators say that they will update customers’ credit files. This will include the removal of credit records for loans that they have decided should be refunded because they are inappropriate.
FAQs on submitting claims
“I have already had a refund – can I really get more?”
Yes. This isn’t an error.
“I want to submit the Claim but my bank details have changed”
The Submit Your Claim page shows the last 4 digits of your bank account number that WDA had on file.
If this is no longer correct, you should still submit the claim and then email the administrators with your new account details. There is going to be time to get all this sorted out, you don’t need to worry about this.
“What can I do if I think I should get more than they have calculated”
There is no option being provided for you to just say you should get more and could they look at it again – I am afraid you have to do the work to calculate what you should get. You are only going to get paid a small proportion of this calculated amount anyway, so you have to decide how much work it is worth putting into this.
It is pretty unusual for anyone to get a full refund for all their loans from the Financial Ombudsman and most people do not get a refund of the first few loans. Read Schedule 1 & 2 of the Proposals – they show how the Claims Calculator has decided if loans are unaffordable. After reading that, if you still think that some of your loans should have been refunded, you need to calculate the interest you paid on the loans and the 8% statutory interest that would be added.
When you have done this, download a Claim Form For Use By Redress Creditors from this page. In box 4 of that need to enter your calculation of how large a refund you should get, including the additional 8% statutory interest. In box 5 you need to describe which loans you are saying should be refunded and why – this will probably mean you have to add a separate page.
“What is the deadline for submitting claims?”
It’s 23:59 hours on 31 August 2019.
Contacting the Administrators
About redress and complaints
If you are worried because you haven’t yet had an email, first check your spam folder!
If your contact details have changed from the ones when you were taking loans from CTL, email customerservice.curo@kpmg.co.uk with your new contact details. The customer service centre will resend any communications you have not received.
If you don’t receive an email from the Administrators but think you have a valid claim, follow the procedure above in “What can I do if I think I should get more than they have calculated”. You will have to estimate how much your refund might be and explain why you think it is due.
About any balances owed
For queries about an outstanding loan, the provisional balance adjustment and payments to the loans email customerservice.curo@kpmg.co.uk . There is a phone number, 0330 094 5695, but some people are having problems getting through.
Any questions?
If you have any other questions, leave a comment below!
Updated – 2 May 2019. Thanks to all the readers that helped with this!
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Steve says
Just got an email from Lantern about my account, and my balance has been written off! :D :D :D My balance was £380.45 so I’m really pleased with that!
Joseph says
I just got the same email too :D ! Although waiting for it to be confirmed with KPMG
Km says
Did you have a complaint in with them or just an outstanding balance?
I’ve got £98 outstanding which has been confirmed with lantern.
It’s frozen until they contact me with what happens next regarding repayments.
Steve says
Hi Km,
I did, yes. Although the administrators had emailed to say that my claim wasn’t upheld by the claims calculator they use.
Andy says
Hi,
I recently received an email from KMPG (Wage Day Advance) stating that they had previously sent me an email with details of my estimated redress and a link to submit a claim. I’ve checked my email (including spam) but have never received this email.
I’ve tried contacting them by the email given and the phone number supplied and have been unable to get any response.
Any suggestions about how I submit my claim?
Sara (Debt Camel) says
The “What can I do if I think I should get more than they have calculated” section in the article above explains how to submit a Claim.
But I suggest you wait a week and try again to contact them again and ask them to resend the email you never received. Claims don’t have to be in until the end of August.
Andy says
Thanks very much for your very swift reply! ;-)
I’ll wait a few weeks to see if I can get any response
Thank you.
Tan says
Hi Sara,
I took out loans with Payday UK, WageDay Advance and Wonga long term since 2009. Although with Wonga it was slightly later.
WDA sent an email to me in early April, stating I have a potential redress for nearly £12,000! Realistically will I get any of this? This would on its own solve so many of my financial problems, I have been in the payday loan trap now since 2009.
It’s been so long, I just feel numb and not sure how to feel really and maybe I am in shock , if this is the redress, I can only imagine what I borrowed.
I am also wondering (not wanting to be greedy and end up with nothing), I should also calculate the interest/ any fines myself? Incase it could be be more? Is it worth doing? I mean I am
slightly confident as the calculation was completed by KPMG (not WDA themselves) it should be accurate but there is a niggling doubt at the back of my mind.
Also if KPMH have calculated this amount for WDA, do you know why Wonga hasn’t done the same? As in providing a calculated potential amount for customers?
Thank you.
Kind regards,
Tan
Sara (Debt Camel) says
I am sorry but you are only going to get back a small proportion of that. It is going to be a massive job to try to calculate it yourself as there will be so many loans involved that the 8% statutory interest being added will be very complicated. I very much doubt it is worth doing.
Wonga haven’t done the calculations yet as they have still been developing their calculator. Have you put in a claim to them? If you have, they will work out the amount. Again you are only going to get a small amount of this back.
Have you sent Payday UK a complaint? If not, do it right away! See https://debtcamel.co.uk/payday-loan-refunds/
Tan says
Hi Sara,
Thank you for your speedy response.
I shall leave the WDA calculation alone, it does sound quite complicated.
I submitted a claim to Wonga on 24th April as per their request to access the portal and submit my claim and then they recent sent me an email on 7th May but there was no action to be taken on my part, in regards to the second email.
As for PayDay UK (thank you for the link info), after I came across your articles on your website about a week ago, I submitted a claim to PayDay UK through a website/tool called Resolver on 7th May, this was a recommended tool on Martin’s Money Saving Expert website.
Thank you.
Kind regards,
Tan
Sara (Debt Camel) says
It sounds as though you still have payday loans? If so, who do you owe at the moment and who else have you borrowed from in the last few years apart from the three you have mentioned?
Tan says
Hi Sara,
I have borrowed from Sunny, MyJar, CashGenie, Ferratum, Uncle Buck, QuickQuid, Money Shop, Lending Stream, Oakham and Fernovo.
Yes…beyond ridiculous, but I didn’t realise it would get this bad.
I have submitted complaints through Resolver for the above companies.
Some have come back and asked for bank statements and I have provided the relevant statements to them. At one point I had loans with 5 or 6 companies, and it just goes to show if they had completed their due diligence/ credit checks they should have rejected my application for loans, in hindsight, but they didn’t.
Thanks.
Tan
Sara (Debt Camel) says
ok, so the good news it that Sunny, MyJar, Ferratum, Uncle Buck, QuickQuid, Money Shop, Lending Stream, and Fernovo. and still going. CashGenie is in the ends stages of liquidation and has run out of money. Oakham has recently entered administration.
Do you currently owe any money to Wonga, WDA or Oakam?
And of the other lenders?
Tan says
Hi Sara,
Payday UK did respond and acknowledge my complaint on 18th May and Money Shop on 14th May. So they seem to be doing something.
I spoke with PDUK and they stated their “analyst/s is looking into this”.
I don’t owe money to any of the pay lenders anymore and have paid them all off a few months ago (with great difficulty) and I am staying away from them rest of this year and going forward.
I borrowed from 24/7 Moneybox twice but these were very small amounts.
Thanks
Tan
Andy says
Hi Sara,
What rights or what is the best course of action, if you still have a few Payday Loans outstanding and will struggle to pay them back without taking out other loans?
Thanks
Sara (Debt Camel) says
You have to stop paying them, cancel the CPAs with your bank and ask for affordable payments arrangements. Otherwise you just drag out the repaying and reborrowing. If you have a lot of creditors, a DMP with StepChange may be simpler: https://www.stepchange.org/how-we-help/debt-management-plan.aspx
At the same time, send in affordability complaints to all your lenders – template letters here: https://debtcamel.co.uk/payday-loan-refunds/. Any refunds will reduce the balances or even give you cash to clear other debts. And when you win a complaint any negative information on your credit record is deleted.
Affordability complaints can take a long while – you can’t hope to be able to get through without stopping paying your current loans.
MM says
Hi Sara
Help please: I have had email/redress fro WDAdvance Last month.
Then another last week about ‘claims form’ if I feel amnt incorrect: that I have not completed yet: I am so upset as I ref complaint to FOS in JUL 2018 but FOS only picked up in APRIL 2019! Had they done so in the SIX months they had to uphold I would have got back a rightful redress: compared to ‘pennies’ now that WDA in admin 2019:
Can you kindly confirm the redress amount you work-out from my loan history/payments below… confused: as figures not matching up to what WDA email states: I know the eventual return is ridiculously small now :( but need/appreciate your expert advice: Thank you!!
date Amnt bor Payments Interest
07 June 2011 150 202 52
06 July 2011 160 200 40
06 August 2011 150 202 52
09 Sept 2011 150 187 37
11 Oct 2011 100 140 40
02 Dec 2011 250 77 173
30 Dec 2011 0 312 312 (Deferral)
10 Feb 2012 160 200 40
22 March 2012 150 202 52
04 May 2012 300 90 210
31 May 2012 0 413 413 (Deferral)
Totals 1570 2225 1421
Sara (Debt Camel) says
I know the delays at FOS were frustrating, but as the article above says by June last year WDA had already started serious planning for possible administration – if FOS had upheld cases faster, WDA would have gone under sooner and you still would not have got the full amount.
Has WDA calculated any redress for you?
MM says
Oh ok, guess hv to wait and see. Yes WDA have calculated redress amnt: however it seems less than what calculations I think can be from table (Hp u can see format ok)
Just confused- but if you can wrk out the correct amnt from statement table sent wd be greateful.
Thank you
Sara (Debt Camel) says
So what have WDA calculated? You are not going to get a “full refund” of all your interest – that would have been very unlikely even from FOS.
MM says
Yes I Hv seen that likely to get pence to each pound! Lol
They Hv calculated £500 but I think it’s more…so You recommend completing claims form?
Thanks x
James says
Hi, i’ve had confirmation of a write off and possible redress from WDA, will they also remove the default?
Sara (Debt Camel) says
The administrators have said they will be correcting credit records – there is no time scale for this.
BR says
I’ve just had a letter from lantern confirming a redress of £2500 and my loan balance is 0.00. I rang lantern and they can’t help but told me to ring CTL. They are a nightmare to get through to speak to. Will the “£2500 redress owed to you” be what I am paid?
Sara (Debt Camel) says
You are only going to get a small percentage of that amount.
Have you had an email from CTL or the administrators asking you to submit a Claim?
BR says
No I haven’t heard but not sure if the email logged with wageday is an old one. It was paid off a long time ago.
How can they write “redress owed to you” but not pay that amount?
Mike Robinson says
Hi,
I took out a series of loans with Wageday advance whilst also in reciept of loans from 6 different payday lenders around 2012, however my email address has long since changed and I am unsure of how to contact the company for my loan history (as their new website will not allow me to log in with my old account details) and to put in a complaint for irresponsible lending. Any advice would be greatly appreciated!
Sara (Debt Camel) says
I suggest you email them at customerservice.curo@kpmg.co.uk giving as many details about your old account as possible. It may be that they have already assessed you as being due a refund but the email has gone to your old email account.
If they find your account details but say the Claims Calculator says you aren’t eligible for a refund, ask them to send you a list of your loans.
Mike Robinson says
Thanks for the quick response, I’ve followed your advice and I’m waiting for a reply.
Sincerely
Steve says
I raised at claim against WDA and got a final response to say as its over 6 years they wont be able to look at my complaint.
I then sent my concerns to FOS for them to come back to say that the administrators are dealing with the accounts. I not heard from them so I have forward the response from WDA to the administrators, expressing affordable – sustainable – responsible lending
Is there anything else I should do or I am too late to be offered?
Joseph says
I just wanted to see if anyone else is having a complete nightmare with WDA and the company that’s doing their administration KPMG. You wait 40 minute in the queue to talk to them and they have no information at all. They just read short statements off scripts. I’ve raised multiple escalations for further clarity but been waiting 2 months for any response to these, as well as emails. The guy lost it with me on the phone saying they have 22,000 unread emails and they are powerless. He even said himself it’s really messed up!!
Sara (Debt Camel) says
what are you asking them about?
Jade says
After the reclaim has being sent will they get back in touch with us, I did email to tell them my debit card details have changed. But no reply. My reclaim has being submitted, so now do we just wait. I hope they don’t just send out refunds to everyone, when some of our details have changed such as debit cards.
Sara (Debt Camel) says
I think they are well aware of this problem!
Rebecca Clough says
Hi Sarah
I have a outstanding balance with Wage Day advance. I was paying them through stepchange debt charity until they went in to administration.
I have lost access to my old email account ( my home address is the same) so I can not check if I have recieved an email from them. I am worried I am going to have bailiffs at my door demanding money I can not pay!
What should I do?
Sara (Debt Camel) says
Email customerservice.curo@kpmg.co.uk and give them your old details, your new email address and ask them to resend you any emails that have been sent to your old email.
Rebecca Clough says
Thank you Sarah for you swift reply.
phil says
hi .
I sent an affordability claim email to Wage Day Advance on 10 apirl .for claim from speedy cash ,
this should be about 8 weeks now but ive not heard anything ,. I also sent an email to customerservice.curo@kpmg.co.uk
on the 22 may – for speedy cash also
Steven pitbladdo says
Hi saw the payday loan refunds recently cant believe there is such a thing to claim interest and charges.
Over the past 10 years I think ave hadv15 payday loans easy maybe more
Looking at template to write to all the payday loan companys I have been with……
Cj says
I was the same I saw advert saying you can claim back interest plus 8% ..but I used template and sent letter out to all my lenders past and present on the 2nd april .this week I’ve had email stating that I’m am entitled to. Almost 7500 refund. On just 2 of the lenders .. well worth doing takes a little sorting and bit of time but stick with it. One of mine has said no and that has now been sent to fos to have a look at.
Sara (Debt Camel) says
Here is the template I suggest https://debtcamel.co.uk/payday-loan-refunds/. That page has a description of the whole affordability claim process and thousands (literally!) of comments below from people using the letters.
Steve says
Hi
I had a number of loans with Wage Day Advance, I made a complaint with them on the 03/12/2018, with it past to FOS, who then confirmed they couldn’t take my complaint on, as it went to adminstration.
The loans; 10 loans, totalling a figure of 3,802.04
What do i do now, can i still complain and receive any compensation.
Thanks
Joseph says
Anyone know when they’re likley to be finished in dealing with the administration? This balance has been written off ages ago but still shows up on my credit report. KPMG are a waste of time to talk to!!
Zoe says
Hi Joseph,
Did yours get sent to Lantern? I’ve just contacted them rather than KPMG. They asked for me to take a screen shot of my credit file and would investigate. Whether that was a fob off is too early to tell.
Joseph says
Hi Zoe, yes, it’s a nightmare. Lantern wrote off the debt, WDA/KPMG wanted proof of this and then…… nothing. I want this off my credit file as this has been settled yet nothing. Proper fustrating. KPMG refer you to Lantern, then Lantern refers you back
Zoe says
I forgot to say I also raised a dispute through Credit Karma saying the account was closed and the date of the email. I felt they may be more likely to do something – we’ll see
Zoe says
Hi Joseph,
Had my new credit Karma report today and Wageday is now showing as settled.
I would suggest this is the best way forward. Good Luck
Stacey says
Hi
I accepted the claim today via the link online . Does anyone know how long it takes from there in ? I did call however the man on the line said by may 2020 when I explained I have accepted the claim he said well I don’t know tbh .
Thanks
Sara (Debt Camel) says
By May 2020 is all the Administrators will say.
Anita Vistartas says
Good afternoon. I received a letter on 21st may 2019 confirming that I was due a redress of £3725.38
I called and was told that an email was sent to me with instructions to claim the redress but this was sent to an old unused email address which I am no longer able to access. I was told that another email will be sent to to my new email address with instructions but I am yet to receive it.
I have emailed but I’m not getting any reply.
What else can I do ?
Many thanks
Anita
Sara (Debt Camel) says
I suggest you email them again.
You have until the end of August to send in a claim. If they haven’t resent this email by mid August, I suggest you send them a Claim Form that you have completed with the £3725 figure and say in box 5 that you understand an email for this amount was sent to /your old email address/ but you didn’t receive you you are sending in this Claim. See the ““What can I do if I think I should get more than they have calculated” section in the article above.
Sara (Debt Camel) says
You probably know this, but you are only going to get a small proportion of that b£3725 amount. Still worth claiming though!
Anita Vistartas says
Ok lovely. Thank you. I know I will probably only get portion of that amount but any amount will be nice really 😀
Thank you for you quick reply
Regards
Anita
Phil says
Ok .I have just filled in the claim form and send long email address .how long does it take for a reply . Is the normal 7_8weeks or sooner because they in admistration
Sara (Debt Camel) says
it could be much longer. There are no set timescales.
StevieC says
I have seen some people asking whether there credit history will be updated if there Lon has been sent to Lantern and written off. My loan was written off by Lantern and despite contacting both Lantern and WDA neither were helpful of how this would be resolved.
I opened a query with credit karma on this account and today there is no sign of it. So this is probably the best way to resolve the issue.
Sara (Debt Camel) says
Thanks for that information!
Phil says
Hi .
So I received an email from kpmg,regarding speedy cash loan . It was advising me that I was not one of the customers entitled for a redress and that i should fill in the claim form if think I should be considered . I have already done this
Joseph says
Hi, took other peoples advice on the WDA loan still being on my creidt file after it being wiped by Lantern. Dispute has been agreed via Credit Karma and now it’s gone from from my credit file! Thanks everyone
L says
Just an update… I’ve had around 7 WageDayAdvance loans taken off my credit report today…