Weird Letter from Instant Cash Loans

sourcrates

Les79 wrote: »

I have voted AGAINST the Scheme of Arrangement here.

Mainly because:

1. I had one or two loans with them in the past and there's no way that I'd ever get a payout for "irresponsible lending" based on that, nor would I expect one.

2. I don't fully know what the outcome of EITHER option is for the company here. So I err on the side of caution and assume that they have proposed it as self-preservation.

It’s simple, if you vote yes, and the vote is carried, the parent company will make available £20.000,000 with which to make redress to clients, if the vote is not carried, the company will be liquidated and you will get 1p in the pound per amount owed, so nothing basically.

loganjohnson

Hi,
I think this is the best reply cuz it’s all left on you. Cuz if you say no, then the proposal stops there.


Yes, the payday loan companies listed in that letter, all went bust, along with wonga, and a few others.


The administrators are realising all the companies assets that still exist, and are to make this pot of money available to past customers who may have had reason to make a complaint about past lending criteria.
You simply vote yes or no, as to wether you wish to be a part of this redress scheme or not, if you vote no, then thats the end of the matter.


If you vote yes, your past loans will be reassessed by the administrators and if they decide mis-selling took place, you will be included in the payout.


You wont recieve a massive amount of money back, just a small percentage of the pot shared with all the other past clients who have had their complaints upheld.[/QUOTE]

twhitehousescat

loganjohnson wrote: »

Hi,
I think this is the best reply cuz it’s all left on you. Cuz if you say no, then the proposal stops there.


Yes, the payday loan companies listed in that letter, all went bust, along with wonga, and a few others.


The administrators are realising all the companies assets that still exist, and are to make this pot of money available to past customers who may have had reason to make a complaint about past lending criteria.
You simply vote yes or no, as to wether you wish to be a part of this redress scheme or not, if you vote no, then thats the end of the matter.


If you vote yes, your past loans will be reassessed by the administrators and if they decide mis-selling took place, you will be included in the payout.


You wont recieve a massive amount of money back, just a small percentage of the pot shared with all the other past clients who have had their complaints upheld.

[/QUOTE]

administrators? , this is no better than the actual company did it , 99% of cases were denied, but a high percentage of people were paid out when they challenged this with the ombudsman

in the case with the administrators , the customer has no eight to state reason pr to show documents to show the criteria was wrong

smoke , mirrors and keeping the press etc happy

older_wiser

had a similar email afew months ago they got back to me saying my claim has been accepted and i will get payment in january don't expect to get much as sourcrates has said probably 1p in the pound.

At the time i was using these loans to help me out and get to where i am now which is no debt very healthy savings and a decent amount set aside in stocks and shares how things change. Without these loans i doubt i'd be in the situation i am now but i understand why people complain about them i just saw them as a stepping stone and they were useful to me at that time in my life when banks wouldn't even consider me.

Mrs_Ryan

I had the email but didn’t vote as I’ve already had hefty payouts from PDUK and the Money Shop a few years ago.

barrysingh101

this letter seems legit but you have to investigate more before proceeding.

JReacher1

There’s a typo in the second paragraph where is says “own” instead of “owe”.

It annoys me.

Gig1968

Any news on the scheme of arrangement meting held on September 24 .

rhyswales12

Received a email about my claim yesterday but never voted before hand so I submitted my claim and the received a message saying they would review it and contact me at the end of next year.

rhyswales12

How would I go about checking when and the amount of loan I took out ?