Email from The Money Shop about Proposed Scheme of Arrangement

Fozzie_Bear

I wonder id anyone on these forums could advise my daughter as to what action to take following an email from The Money Shop.
Many years ago she took out a number of Payday Loans with Payday UK. All of which she eventually paid off. However this month she received an unsolicited email from the Money Shop in regard
to a "PROPOSED SCHEME OF ARRANGEMENT IN RELATION TO INSTANT CASH LOANS LIMITED" with further information here https://www.themoneyshop.com/FAQs.

At first glance it looks like they are trying to set up a scheme in order to mange the claims against them. I have tried reading the document but its all in very legal terms and doesn't state any personal information as regards compensation being offered.

My daughter remembers the loans but has no information as to details e.g. dates, amounts interest rates etc. this is primarily as it was all conducted by email and she no longer has access to the email account.
Should she sign up to the scheme in the hope that she may get some compensation back even though this may be less than what she might be owed?
Many thanks
Fozzie

sourcrates

Hi,

See this thread here, already been asked twice this week :

https://forums.moneysavingexpert.com/discussion/6040455

Fozzie_Bear

Thanks Sourcates,
Thanks for the reply. I did try doing a search of the Forum before posting but it dint bring up any results. Probably used wrong search term
I'll suggest she votes YES as she has nothing really to lose.

Fozzie