Debt Camel

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Wageday Advance – administration now completed

Summary of the administration

Curo Transatlantic Limited (Curo) had two 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 published Proposals for the administration in March.
  • Outstanding loans, less any compensation calculated, were sold to Shelby or Lantern.
  • The Administrators used a Claims Calculator to decide which WDA customers may be owed compensation for inappropriate lending;
  • 256,000 customers owed compensation were sent emails inviting them to submit a pre-completed Claim. The deadline for Claims to be submitted has now passed.
  • In September 2019 it was announced that c.100,000 claims were received and that the administrators expect to pay c. 5p in the pound to customers who made a claim.
  • On 20 May 2020 the final dividend of 5.68p in the £ was announced and paid to unsecured creditors. The total amount being distributed was £7,232,445.
  • Three further payments runs were made to try to resolve problems where payments had bounced back.
  • No further payments will be attempted.  The administrators have sent the funds they held relating to unsuccessful dividend payments to the Insolvency Services Account, in line with standard insolvency procedure.
  • Any customer who did not receive their expected payment can claim it from this account. Email CustomerServices.EAS@Insolvency.gov.uk, and include your name, customer number, address and the name of the Company, being CURO Transatlantic Limited.

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.

Loan sales to Shelby and Lantern

Immediately on administration – some accounts 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.

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 remained 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 – the legal term for all the outstanding loans – was sold to Lantern, a debt collector.

Borrowers whose loans were sold were sent an email explaining this.

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 were returned to the Administrators to settle.

The Claims Calculator

The Administrators put all loans from Wageday Advance, past and present, including those over 6 years old, through the Claims Calculator that has been developed.

The Claims Calculator was intended to give roughly similar results to typical FOS decisions. A loan was determined to be inappropriate by the calculator if it failed 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 was calculated as a refund of interest and charges, plus 8% statutory interest.

For customers who had already had an offer or a FOS decision, the redress was set at the largest of:

  • what the Claims Calculator said;
  • any Final Response offer from WDA; and
  • the value of redress determined by the Financial Ombudsman.

Customers who still owe a balance

People who had a balance outstanding and who should get redress got an email from the Administrators with the subject Important information about your loan even if they haven’t submitted a complaint.

Here is an example of the key figures:

  • Outstanding loan balance at 25 February 2019 per CTL’s records 420
  • Less: balance adjustment (165)
  • 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, 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.

If the calculated redress is larger than balance the redress cleared the balance and a further email was sent about the remaining redress.

Customers who are owed refunds for unaffordable loans

The Administrators sent emails with the subject Important information about your redress claim. These say:

  • what your calculated redress amount is;
  • that you are an unsecured creditor with a claim against CTL for this redress amount;
  • there was button in the email to submit your claim before the deadline (which has now passed).

Credit records

The Administrators updates customers’ credit files to remove credit records for loans that they decided should be refunded because they are inappropriate.

20 May 2020 – payments made

On 20 May 2020 the Administrators announced all unsecured creditors, including people owed money for unaffordable loans, will get 5.68p in the £.

An email was sent to everyone saying what they would receive and payments started immediately. here is an example of an email:

a copy of an email being sent out showing how much people will be receiving. This is 5/68% of the amount your claim for unaffordable lending by Wageday Advance was calculated at.

Where payments bounced back, people were asked to supply updated bank details and further payment runs were made over the next months.

Related:

Refunds / For larger loans, overdrafts, car finance, credit cards and catalogues

Credit Records / “Suppress” records after administration

Comments

  1. Joseph says

    Sara I need your help. I only ever had 1 loan with WDA, they sold it to Lantern recently and I’ve just been told it’s been written of?? The balance is 0! I’m not sure if this is correct but Lantern told me balance is 0 and account is closed. How can this be off just 1 loan??? I put an affordability complaint in but all i was told is to pay back principle amount. £750 just written off?? Crazy

    • Sara (Debt Camel) says

      So good news! My guess is that either Lantern are taking the practical decision that with an affordability complaint and you having little money this one isn’t worth the hassle OR the administrators have decided they should uphold your complaint and it’s simpler for them to pay Lantern a small amount to get Lantern to clear it.

      • Joseph says

        Yes very happy! I’ve got them to send me an email and a letter is in the post confirming the account is closed with a balance of £0. So if they ever change their mind I’ve got this letter. Brilliant news!

  2. Steve says

    Should I have received an email from Lantern by now? I had an email from the administrators on the 8th May saying my loan had been passed on to them. Or are Lantern just sending emails out in batches, kind of like when the administrators were sending emails last month?

  3. Paul says

    How come lantern appear to be wiping everyone’s accounts clan yet Shelby Finance who my loan was transferred to wasnt? I asked them to look into irresponsible lending and all they did was put me on a payment plan, so I have a case if other companies are writing off the loans ?

    • Sara (Debt Camel) says

      how many loans did you have with WDA before this last defaulted loan?

      Lantern aren’t writing everyone’s loans off, just a few.

  4. M says

    Hello Sara/All….

    My (fully repaid) WDA complaint was with FOS since JUNE 2018: Then got closed bcoz WDA administration…
    Last month I received email about redress amount- that I submitted:
    However I received another email recently about submitting ‘claims form’ (before August).
    My question is whether all are gttn these claims forms? Also if submitted; would it delay redress process further ( than 2020)?
    I can actually retrieve all info required in relation to loans as old accnt- is it still worth completing? What has other customers experienced with this?
    Thanks; Sara/All

  5. Joseph says

    Sara need a bit of advice again. So after my previous post, my debt sold to Lantern, WDA have said that they will not remove the credit file information which shows a balance peeing of £903. I’ve shown the proof that Lantern have the debt and it’s written off, and also forwarded them emails as they told me this debt had been sold to Lantern. They are basically saying this is not true, I still owe the debt? But Lantern have 100% confirmed they bought this debt and they’ve written it off. What do I do Sara?

      • Joseph says

        Basically yes, they told me that there systems (as of 28th Feb) show the debt is with them. But I’ve argued this is an extremely long time ago, and they’ve previously told me via email it has been transferred to Lantern. One manager told me ‘If you’ve got that email saying it’s gone to Lantern, it’s gone to them’ and then one tells me ‘no it’s with us’.

  6. 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.

    • Tom says

      I have emailed in a claim for redress last year with no reply and I have copies of my statements showing I couldn’t afford these loans .

  7. 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.

  8. 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.

  9. 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

  10. 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.

  11. 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.

  12. 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

  13. 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.

  14. 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?

  15. 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

  16. 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?

  17. 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!!

  18. 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.

  19. 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?

  20. 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

  21. 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.

  22. 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

  23. 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

  24. 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

  25. 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!

  26. 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

  27. 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

  28. 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.

  29. 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

  30. 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

  31. L says

    Just an update… I’ve had around 7 WageDayAdvance loans taken off my credit report today…

  32. Neil C says

    Hi I wonder if anyone can help me with a query.
    I received an email about redress for payday loans from a company now in administration (shock) .
    It states roughly £950 would be the sum but obviously as they’re in administration it’ll be a fraction of that as they say it’ll be so many pennies in the pound that will eventually be issued.
    The debt company say they’re owed £500 so is the sum I owe the debt company deducted from the total sum leaving me what’s left of £450 or do they deduct the £500 after theyve calculated so many pennies in pound of £950 which probably leave me still owing the debt company? Hope that makes sense & grateful if anyone been in similar situation & can tell me what happened with them.

    • Sara (Debt Camel) says

      Hi can you say who the lender is? Is this the same as the “debt company” or has your loan been sold to a debt collector, if so who?

    • Neil C says

      Hi,
      Wagedayadvance are the payday company & a place called Lantern intend to deduct outstanding debt but not sure if its deducted before or after they issue the sum which will be so many pennies in the pound of the £950?

      • Sara (Debt Camel) says

        The deduction should take place first, talk to Lantern about this they have handled other similar cases. So you should owe Lantern nothing and get a small proportion of the remaining £450 back from the WDA administrators. Also the default should be removed from your credit record.

        If you had other loans from other payday lenders, this is a good start to look at making claims against them.

  33. Kayleigh says

    I’ve got an email today saying I’m owed £3775.05 if I’m only getting a small proportion of it back and you roughly tell me how much?

  34. RG says

    Hi Sara, recently received a text message saying Wageday Advance had sent me an important email and if i had not received this to clink on link
    I did not receive an email, which the reason i think being is when i had an account with Wageday Advance it was under a different email address. I have emailed customer services numerous times now but had no reply. Are you able to help as i am a little confused on what i should do next.
    Many thanks
    RG

    • Sara (Debt Camel) says

      You do need to get them to resend the email to your current email address. It is probably telling you you can submit a claim a payday loan refund, as the article above explains. A claim has to go in by the end of August.

      I suggest you email them at claims.curo@kpmg.co.uk and tell them this. IF there is no response in a week or two, phone 0330 094 5695.

  35. sam says

    Hi Sara,

    I emailed my complaint to WDA then Shelby then administrators as it was just few days before went into administration. I have been sent the Proof of debt form, but don’t know how to calculate the value of claim / redress part.

    Apologies if already asked on forum, but couldn’t find that discussion point.

    Sam

    • Sara (Debt Camel) says

      See the “What can I do if I think I should get more than they have calculated” section in the article above.

  36. Chris mcfadyen says

    I have not heard a peep since around April – should i be worried? I was hoping for a redress claim

      • Chris mcfadyen says

        Hi sara,

        Yeah i done all of that back in april- and was told i was estimated redress clim of £3152.38..

        But not heard anything in months now

  37. warwick65 says

    I have a question and would like your opinion.

    Today I received a text from KPMG about an old WDA loan

    Long story short – many loans , kept rolling over and reloaning until the loan was 750 and total 912.50 . Defaulted, this was back in 2012.
    Sold to Lantern (MMF then) but after some dispute sent back to WDA

    Nothing has been paid since and last letter in March 2013 so this debt is definitely SB.

    It seems I borrowed in total a little over 4000 and repaid a little under 5000 – should I make a reclaim ?

      • Warwick65 says

        Hi
        Maybe but it would have gone to a dead email address . All I have had was a text from the administrators

        • Sara (Debt Camel) says

          Ah, you want them to resend that email to your new address, if will give a calculated redress amount and a Submit button … so you don’t have to calculate anything.

  38. warwick65 says

    To add to the previous comment I have now found an excel spreadsheet, the first loan was in early 2010 rolled over many times until late 2010 , then a payment followed just a few days later by a reloan and many more rollovers. My credit file at the time was shot, I was in an informal DMP and had many other payday loans

    I then lost my job in March or April 2011

  39. Nicollette says

    I’ve heard from WDA ,quite often. Even Today They Sent A Text Message. Abit Disappointed with the Redress. £16.55pence. It seems if you don’t pay off you’re loan you’re more better off? Or maybe the size of the loan?

  40. Shaun says

    Haven’t heard anything back after the initial email in April I submitted my accepted via the link , but nothing since

  42. Dw says

    I complained about WDA to the ombudsman and was rejected, I think due to the fact I didn’t have rolling loans with them (This was the only company I failed to get a refund from, amongst the ten or so lenders I was in business with…)

    I have since received the above mentioned mails been given a redress estimate, and most surprisingly the default they placed on my account seems to have been removed.

    Has anyone else checked credit files and had defaults for this company removed?

    Thanks.

  44. nicholas moger says

    How long does it take to receive the refund once I have a committed amount?

    Many thanks

    Nick

  45. Shaun overy says

    No point even worrying about it , doubt it will be more than 5p in the pound , and payments won’t be done until May next year

  46. Paula says

    Good evening

    Can you please help? I put a claim to WDA via Resolver not knowing they’re in Administration. I received an email back saying I needed to complete the claim before 31/8 that I received an email for.
    I have since emailed 4 times requesting the email to my updated email address as I didn’t receive the initial one. I put all my contact info in so they can confirm who I am. They have yet to send it or respond.
    Any advice on how to get the email would be grateful.

    Paula

  48. Robert Bateman says

    Hi Sara.
    Once we hit deadline, when are we likely to find out the final payout amount?

    Regards
    Rob

  49. Liam says

    I rang and they reckon it will be about 3 pence on the pound so 3 pound for every 100 pound owed. Not even worth claming it back.

    • Sara (Debt Camel) says

      Really? I would be very surprised if anyone from had told you a figure over the phone. Especially as not all the claims are in.

  51. RG says

    Please can someone let me know how I am able to make a compliant regards claims.

    I have been in contact with the claims dept at KPMG and Customer Services since June and kept getting fobbed off with responses that they will be in contact shortly – Claim form and redress amount and had nothing back. The claims deadline has now passed and I have missed out on compensation because of them. I would like to make a compliant to them and see if that be made some attention or I am thinking of going higher.

    If anyone can help that would be greatly appreciated.

    Many thanks
    RG

    • Tan says

      Dear RG

      Please contact them on this email address :

      customerservice.curo@kpmg.co.uk

      I ve had a response from them from this email.

      They took a few weeks but they did respond to me and acknowledged they had my form. Please do this as soon as you can. And keep all your emails you ve been sending to them safely and don’t delete them.

      Tan

  52. RG says

    Hi Tan

    Thank you for your response.

    I have contacted them on this address but still had no reply, I have not received my form or been forwarded the redress amount. To why I want to make the complaint, I will contact them again today,

    Many thanks,
    RG

  53. Dave says

    Anyone want to hazard a guess at what pence in the pound will be given? Anyone have any knowledge of previous companies figures? Are we talking 1p, 5p, 20p, 50p, 70p?

    • Dale says

      I would think it would be no more than probably 10p. My redress is 2,500. Wonga will be announcing theirs shortly which will probably be a good indicator.

    • Rich says

      Based on other companies it’s normally 3-6 months after the claim deadline. I’d guess sometime the beginning of next year.

  56. Turtle says

    Emailed the administrators on the 4th of July asking for my detailed loan history as I don’t believe the redress figure they have come up with is correct at all.

    Received no reply to this Email so I wrote another Email on the 13th August following up.

    On the 6th of September they came back to me confirming they had received my claim. No mention of the detailed loan history I requested over 2 months prior.

    Absolutely useless.

  57. Mandy says

    The last time I had a loan with them was 4 years ago and I no longer use the email address. If they really wanted to pay out, they would also have sent something by post. PayDay UK did just that and I received a decent amount back. Can’t remember exactly how much but it was over £1k.
    Now the deadline has passed. Are they really able to get away with simply sending out an email, even to ‘old’ customers?

  58. Josh says

    Im unsure if I was a customer that was mis-sold a loan from WDA as the email I used a few years ago when I took out the loan I no longer have access too… If i wanted to contact WDA who would I now email/ send a letter too? Im hoping to try and contact them to find out if I was in the hope that I was so the default I received from them could be removed.

      • Josh says

        Yes Sara just the 1 loan with WDA. I took it out at the time to repay another payday loan. Like i say ended up getting a default from it. Very unlikely that im one of the customers who was mis-sold I know. This default is really having an effect on me and the fiancé buying our first home now though so abit of wishful thinking on my behalf that there was a chance of the default being removed. I think the only other option I can explore would be to try and contact them and play the sympathy card in hope of them removing it but I dont have a clue who to contact. Everything on WDA website takes you back to the administration page. I go on contact us and it takes me to the KPMG website which seems to be hundreds of subsidiary companies.

        • Sara (Debt Camel) says

          It’s now too late to put in a claim. But with only 1 loan you probably would not have had your complaint upheld anyway. I doubt the administrators have the staff to be considering this sort of odd plea for sympathy.

          But this sounds like quite an old default that was quickly settled – what date was it?

          • Josh says

            Yes I totally understand that, but its got to be worth a shot,. Ive managed to get 1 removed just from pestering them with emails and letters but that was from a phone contract that also defaulted. Yes it is old, just gone over 3 years old.

  59. Sara (Debt Camel) says

    Yesterday the administrators published their 6 month progress report.

    100,000 people have sent in claims before the deadline. They expect to pay between 4.5p and 5.2p in the pound – so about 5% of the amount you were informed your Claim was worth.

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