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.
10 February 2025
Baroness Manzoor CBE, Chairman of the Financial Ombudsman Service, is stepping down after successfully serving two terms of office when her current term expires on 1 August 2025.
7 February 2025
The Financial Ombudsman Service has announced that it will be proceeding with a proposal to charge professional representatives to refer a case to its service.
6 February 2025
The Financial Ombudsman Service announces that Abby Thomas, who joined in October 2022 as Chief Executive and Chief Ombudsman, is stepping down.
