CURO Transatlantic Limited (in Administration) - "CTL"
Court number 1418 of 2019
SRC Transatlantic Limited (in Administration) - "SRC"
Court number 1419 of 2019
Together - "the Companies"
Joint Administrators - Howard Smith and Ed Boyle
Howard Smith and Ed Boyle were appointed as Joint Administrators of CURO Transatlantic Limited on 25 February 2019. CTL was a provider of short-term, high-cost consumer finance and traded exclusively in the UK under two brands: WageDayAdvance and Juo Loans.
Immediately following their appointment, the Joint Administrators concluded a sale of the business and the majority of the assets of CTL to Shelby Finance Limited, an unconnected purchaser ("Shelby"). As part of this sale, a proportion of CTL's outstanding loan book was purchased by Shelby.
A sale of CTL’s remaining customer loan book has also now been agreed with Lantern Debt Recovery Services Limited (“Lantern”).
Customers whose loans have been sold will receive confirmation of the sale of their loan from the Joint Administrators, and separately from Shelby or Lantern (as relevant) who will administer these loans from now on.
Please note, neither Shelby nor Lantern have purchased CTL as a company or legal entity (i.e. by way of a share purchase), and therefore CTL remains under the control of the Joint Administrators. In addition, the WageDayAdvance and Juo Loans brands have not been purchased and remain with CTL. Following the Joint Administrators' appointment, CTL will not make any new loans.
A Frequently Asked Questions guide can be downloaded below, or accessed using the ‘Customer FAQs’ link on this page. Our customer service centre is currently receiving a high volume of enquiries. Please review this guide before contacting the customer service centre, including if you have any queries concerning repayment of a loan, credit history updates, entitlement to redress, and submitting a claim in the Administration.
Other FAQs that you may find helpful:
- Q: How can I submit a claim in the Administration?
A: If you have been identified as being potentially entitled to redress from CTL in respect of one or more loans that you have previously had, you should have received an email from the Joint Administrators providing you with details of your estimated claim in the Administration. If you agree with the value of your redress entitlement that is contained within this email, you may use the ‘submit claim’ link within this email to submit your claim in the Administration.
If you do not receive an email providing you with details of your estimated claim, you may still submit a claim in the Administration by completing a customer claim form (available to download below) and submitting emailing this to firstname.lastname@example.org.
- Q: Do I need to use a claim form to update my personal details?
A: You do not need to complete a separate claim form if you only need to update your personal details. Claims may be submitted still using ‘submit claim’ link within the email that you should have received if you have been identified as being potentially entitled to redress. Updated details can be provided separately, by contacting the CTL customer service centre (contact details are below).
- Q: What is the deadline for submitting claims in the Administration?
A: Claims must be submitted by 23:59 hours on 31 August 2019. If you do not submit your claim by this date, you may not receive a payment in respect of any valid claim in the Administration that you may have.
- Q: I have recently paid off my loan, will my credit reference file be updated?
A: The Joint Administrators are currently in the process of providing updates to credit reference agencies, following the sale of the CTL remaining loan book, and reductions to outstanding balances that customers may have received in relation to redress.
- Q: I have sent an email to the customer service centre and haven’t received a response yet. Will you deal with my query?
A: The customer service centre is currently receiving a high volume of enquiries. Please bear with us whilst we work through the enquiries that are being received.
If you submitted a query by email, please review the automatic response which you will have received in return, to see whether you will receive a response in due course. We will deal with certain enquiries (e.g. requests to process updates of customers’ personal details) without further communication with customers.
A customer service centre has now been established, who can be contacted at email@example.com .
Alternatively, specific mailboxes have been set up if you have any of the following queries: