Another Payday Loan Company Bites The Dust!

maddyh11

Official MoneySavingExpert.com Insert:

We've linked to this forum thread from our news story:

Two payday lenders go into administration – what you need to know

Back to the original post...


Hello

Wageday Advance has gone into administration today.... This is welcoming news as it means one more payday loan company less........
i found this out by trying to log in to pay off an outstanding balance and get shot of them for good but its saying:

"For customers with outstanding loan balances: Your outstanding loan(s) remain with CTL and your account has not transferred to Shelby.
The Joint Administrators will contact remaining CTL customers over the coming weeks. In the meantime, please view the Frequently Asked Questions page on KPMG's dedicated website"

Where to i stand with my outstanding balance! is small but i was so hoping to pay this off and get rid of them but seems i cant as the account no longer active and just shows the message above! Do i just have to wait and hear... The KPMG website doesn't tell you much.......

[Deleted User]

The administrators will contact you.

Just keep the money to one side.

boo_star

maddyh11 wrote: »

Where to i stand with my outstanding balance! is small but i was so hoping to pay this off and get rid of them but seems i cant as the account no longer active and just shows the message above! Do i just have to wait and hear... The KPMG website doesn't tell you much.......

You'll have to wait and hear from the administrators.

jimbo26

Looks like it has been purchased by Shelby Finance Limited, although not all the loans have been purchased by Shelby.

"As part of this sale, a proportion of CTL's current loan book was purchased by Shelby."

John_G_Jones

maddyh11 wrote: »

Hello

Wageday Advance has gone into administration today.... This is welcoming news as it means one more payday loan company less........
i found this out by trying to log in to pay off an outstanding balance and get shot of them for good but its saying:

"For customers with outstanding loan balances: Your outstanding loan(s) remain with CTL and your account has not transferred to Shelby.
The Joint Administrators will contact remaining CTL customers over the coming weeks. In the meantime, please view the Frequently Asked Questions page on KPMG's dedicated website"

Where to i stand with my outstanding balance! is small but i was so hoping to pay this off and get rid of them but seems i cant as the account no longer active and just shows the message above! Do i just have to wait and hear... The KPMG website doesn't tell you much.......

If they are so bad then why did you use them and where would you have gone had they not existed?

fatbelly

Debt Camel has an article here

https://debtcamel.co.uk/wageday-advance-wda-administration-sale-morses-club/

maddyh11

John_G_Jones wrote: »

If they are so bad then why did you use them and where would you have gone had they not existed?

Didn't realise i came on here for Judgment......:T

Former_MSE_Andrea

Thanks folks, we've published a news story here:

https://www.moneysavingexpert.com/news/2019/02/payday-lenders-juo-loans-and-wage-day-advance-collapse-into-admi/

LABMAN

maddyh11 wrote: »

Didn't realise i came on here for Judgment......:T

No one/s Judging you...they are just trying to understand your logic.

fatbelly

maddyh11 wrote: »

Hello

Wageday Advance has gone into administration today.... This is welcoming news as it means one more payday loan company less........
i found this out by trying to log in to pay off an outstanding balance and get shot of them for good but its saying:

"For customers with outstanding loan balances: Your outstanding loan(s) remain with CTL and your account has not transferred to Shelby.
The Joint Administrators will contact remaining CTL customers over the coming weeks. In the meantime, please view the Frequently Asked Questions page on KPMG's dedicated website"

Where to i stand with my outstanding balance! is small but i was so hoping to pay this off and get rid of them but seems i cant as the account no longer active and just shows the message above! Do i just have to wait and hear... The KPMG website doesn't tell you much.......

Someone will buy your debt and be in touch. Nothing you can do for now