We are aware that Instant Cash Loans (“ICL”) entered a scheme of arrangement with its creditors (which includes customers and former customers of The Money Shop, Payday Express, Payday UK and Ladder Loans) before it looks to close down the company.
We are aware that Instant Cash Loans (“ICL”) entered into a scheme of arrangement on 9 October 2019 before it looks to close down the company.
Where there is a creditor and court-approved scheme like this one, customers with complaints will be able to make a claim for redress directly through the scheme.
In these circumstances it would not appropriate for us to consider covered complaints against ICL. The exception to this is complaints about pawn-broking, which we understand aren’t affected by the scheme. All other complaints should be referred directly to ICL.
You can find more information on ICL’s website.
27 June 2024
Welcome to the latest edition of Ombudsman News. In this edition, we highlight our consultation on charging Claims Management Companies and other professional representatives. We also share details of roles we’re currently recruiting for.
12 June 2024
Our proactive settlement scheme gives financial businesses the opportunity to resolve a complaint early on in our process. Some changes will apply to the way the scheme runs from the end of June 2024.
30 May 2024
Following a companywide vote, Sands, the UK’s leading pregnancy and baby loss charity, was chosen to be supported over the next two years.
