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 anyone else on this payday loan journey with me. I have documented all of my communication and updates with Wage Day Advance. As it has been over a year of updates. I thought I would create a page dedicated to the payout due in May 2020.
Notice of declaration of final dividend
I now have been paid – Friday 22nd March 2020. So keep an eye on your bank account too for payment!
What amazing news that WageDayAdvance are to pay creditors within the next 7 days!! I have kept you all updated with any information that I have received. As well as the conversations that I have had with their PR team. As confirmed, they are due to payout in the next 7 days from today.
The full email provided below…
A first and final dividend of 5.68 pence in the pound is to be paid to unsecured creditors.
|–||This means you are due a dividend of £98.14.|
|–||We have processed your dividend payment, and you should receive the funds into your bank account within 7 days of this email.|
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
Notice of declaration of final dividend
Howard Smith and Ed Boyle were appointed Joint Administrators of CTL on 25 February 2019.
We previously contacted you to inform you that we had agreed your claim in the Administration at £1,727.76.
We are contacting you to inform you that a dividend of 5.68 p in the £ was declared on 20 May 2020 and is now being paid to creditors. This dividend was calculated from total funds available to be distributed of £7,232,445. We are notifying you of this as required by Rule 14.35 of the Insolvency (England and Wales) Rules 2016.
The dividend rate of 5.68 p in the £ means that, for example, a creditor with a claim of £1,000 will receive a dividend payment of £56.80, as unfortunately there is insufficient money to pay creditor claims in full.
The balance of funds held by CTL has been retained to pay the remaining costs of the administration process. There will be no further dividend paid to creditors.
Final Payout Update: Wednesday 13th April
I thought I would check in one more time with WDA this week. Good to hear that payments will be made this month. A PR representative told me that “Just to confirm there is no change to the position that it will be paid on or before the month end.”
WDA Payout Update: Friday 17th April
I wanted to share positive news with you al. After speaking to an official spokesperson today for the Administrators. Despite COV-19 disrupting many businesses right now. They have reassured me that there is no anticipated delay in paying dividends to us all.
As formerly communicated to creditors, the first and final dividend will be paid on or before 31st May 2020.
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 5 pm on Friday 20th of March. We sincerely apologise for the inconvenience this may cause.
At this moment we are unable to provide a timescale 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.
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.
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|