WDA – Claim Update: COVID-19.
Due to the UK on lockdown, the Administrators have had to suspend their customer helpline number to protect their staff. However, you are able to still contact by email. Payouts are not expected until the end of May 2020. I have copied their announcement which is highlighted below in bold.
Unfortunately due to the recent UK outbreak of COVID-19, following the guidance from the UK government and in the interest of the health and well-being of both our staff and wider communities, we have had to take the decision to suspend the CURO customer service telephone lines from 5pm on Friday 20th of March. We sincerely apologise for the inconvenience this may cause.
At this moment we are unable to provide a timescales as to when customer service telephone lines may be available again, as such, we would advise all customers who wish to contact us that the FAQ section of our website provides updates and answers to most common queries at www.KPMG.co.uk/curo. Alternatively, customers may contact our customer service team through email at firstname.lastname@example.org.
WDA – Claim Update: Dividend Info
A big thanks to Nat Daley in our community for sharing the latest update. Wage Day Advance confirmed that they will be paying out before 31 May 2020. However, what they have not revealed UNTIL NOW is that they estimate that the dividend will be between 4.5 and 5.2. pence in the pound.
Wage Day Advance | CURO Transatlantic Limited
CURO Transatlantic Limited (formerly trading as WageDayAdvance and Juo Loans) (in Administration) – “CTL” Joint Administrators – Howard Smith and Ed Boyle
For everyone who is on this Payday loan journey. I thought I would share the latest from the administrators for Wage Day Advance. Wonga has just announced its payout this week, which was 4.3p in the £. It looks very much likely that payouts from Wage Day Advance will be minimal too.
Wage Day Advance Administrators contacted me last year to ask if I wanted to submit a redress claim. The deadline to submit a claim was 31 August 2019. Check your inbox and junk mail if you also took out loans with them. I nearly failed to submit my claim.
The full email from Wage Day Advance
Howard Smith and Ed Boyle were appointed as Joint Administrators of CURO Transatlantic Limited (“CTL”), which formerly traded as WageDayAdvance and Juo Loans, on 25 February 2019.
|The Joint Administrators believe that you may have a redress claim against CTL in relation to one or more loans that you have previously taken out from CTL.|
|We previously sent an email providing an estimate of your redress claim against CTL and instructions on how to submit your claim in the Administration.|
|IMPORTANT: Our records show that you have not yet submitted a claim in the Administration. You must submit your redress claim by 23:59 hours on 31 August 2019 in order for your claim to be considered.|
|Please note: Claims can only be submitted by the means described in this email. Any other format of claim notification, including relying upon a previous submission by a claims management company, will not be accepted.|
|You are receiving this email because the Joint Administrators believe that you may have a redress claim against CTL in relation to one or more loans that you have previously taken out from CTL.|
Dear Miss Ellis
CURO Transatlantic Limited (formerly trading as WageDayAdvance and Juo Loans) (in Administration) – “CTL” Court number 1418 of 2019 Joint Administrators – Howard Smith and Ed Boyle
As you may already be aware, Howard Smith and Ed Boyle were appointed as Joint Administrators of Curo Transatlantic Limited (“CTL”) on 25 February 2019. CTL formerly traded under the brands WageDayAdvance and Juo Loans.
You are receiving this email because the Joint Administrators believe that you may have a redress claim against CTL in relation to one or more loans that you have previously taken out from CTL.
Details of your estimated redress claim against CTL were initially provided to you in an email we sent in the week commencing 1 April 2019. Our records show that you have not yet submitted your redress claim in the Administration.
A deadline for the submission of redress claims in the Administration has now been set of 23:59 hours on 31 August 2019.
Details of your estimated redress claim in the Administration are provided below, along with a link through which you may submit your claim.
If you wish to be entitled to receive a payment in the future, you will need to submit your claim in the Administration.
Potential entitlement to redress
Prior to the Joint Administrators’ appointment, CTL identified a number of current and former customers who may be entitled to redress relating to CTL’s historic affordability, creditworthiness and responsible lending practices.
As part of this process, you have been identified as a customer who is potentially entitled to redress from CTL.
The Joint Administrators have estimated your potential claim using CTL’s Claims Calculator, as follows:
Deadline: 23:59 hours on 31 August 2019
Reclaim amount: £1,727.76
Payment Deadline: on or before 31 May 2020
|Estimated redress claim. The value of this claim takes into account, and therefore includes, outstanding uncapitalised interest. For further details please refer to Appendix 8 of the Joint Administrators’ proposals.||£1,727.76|
I rang today for an update today. A very friendly customer service agent (who answered in minutes), told me that they are processing all submissions. Payments should probably take place at the end of May 2020. Emails should be going out soon. Watch this space!
Wage Day Advance: The amount and timing of payments to unsecured creditors of CTL is not currently known. However, we expect that payments will be made in early 2020, on or before 31 May 2020.
If you did not submit your claim by this deadline, it is unlikely that your claim will be considered by the Joint Administrators and you may not receive a payment.
Please note that CTL will not be able to pay your claim in full, and it is expected that you will only receive a partial payment (low pence in the pound) against any valid claim you may have.
Customer service centre info provided
The Joint Administrators have established a customer services centre, which can be contacted at email@example.com or on 0330 094 5695.
However, call and email volumes to the centre are currently high and we therefore recommend that, before calling or emailing, you should view the Frequently Asked Questions guide at www.kpmg.co.uk/curo.
The Frequently Asked Questions include further information on submitting a redress claim in the Administration, how claims have been calculated and a number of other customer queries.
For CURO Transatlantic Limited – in Administration
|Information on your rights of referral|
|As required by rules made by the Financial Conduct Authority, the Joint Administrators inform you that you have the right to refer your complaint to the Financial Ombudsman Service. However, following the appointment of the Joint Administrators, the Administrators have been in dialogue with the Financial Ombudsman Service to confirm the impact of the Administration on the complaints the Financial Ombudsman Service currently holds and how to deal with new complaints referred to the Financial Ombudsman Service during the Administration. The effect of CTL going into Administration is that all cases received by the Financial Ombudsman Service will now have to be dealt with by the Joint Administrators. This means that the Joint Administrators will determine whether a complaint should be upheld and whether a customer with an upheld complaint should be treated as a creditor with a claim in the Administration. Accordingly, the Financial Ombudsman Service will not be able to further progress any existing complaints about CTL and will not be able to deal with any new complaints that are referred to it. In both types of situation, the Joint Administrators will deal with the complaints and keep customers updated with the progress being made to determine those complaints.|