CURO Transatlantic Limited (in Administration) - "CTL"
Court number 1418 of 2019
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 ("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 concluded with Lantern Debt Recovery Services Limited ("Lantern").
The Joint Administrators have emailed customers whose loans have been sold, and customers will have also been contacted separately by Shelby or Lantern (as relevant) who are administering these loans from now on.
The Joint Administrators contacted by email all customers who were identified as being potentially entitled to redress from CTL using CTL’s Claims Calculator, to inform them of their potential claim in the Administration.
The Joint Administrators set a deadline for customers to submit redress claims in the Administration as 23:59 hours on 31 August 2019. We sent reminder emails to all customers identified as potentially having a redress claim in the Administration, who were yet to submit a claim, in the week commencing 29 July 2019.
The deadline for customers to submit redress claims in the Administration has now passed, and any claims attempted to be submitted following this date are unlikely to be considered by the Joint Administrators.
Customer FAQs can be accessed through the link on the right-hand sided of this page (and can be downloaded below). These FAQs have been prepared to provide guidance across a number of typical queries, including repaying a loan, credit history updates, entitlement to redress, and submitting a claim in the Administration.
A selection of FAQs that you may find helpful, which are also included in the full list, are:
- Q: I have submitted my claim already but want to update my personal details – how can I do this?
A: If you have already submitted your redress claim in the Administration, you can provide updated details by emailing firstname.lastname@example.org or by contacting the CTL customer service centre.
- Q: Can I still submit my claim now?
A: The deadline for customers to submit redress claims in the Administration has now passed, and any claims attempted to be submitted following this date are unlikely to be considered by the Joint Administrators.
- Q: Will my credit history be affected if I have been unable to make my regular payments against my loan, following the administration?
A: The Joint Administrators have previously reported the position as at the date of their appointment (25 February 2019) to the credit reference agencies that CTL worked with. The Joint Administrators have also now submitted final reports to the credit reference agencies in relation to:
- Loans that have been sold;
- Loans that have been paid in full by customers since 25 February 2019;
- Loans that have been written-off since 25 February 2019; and
- Redress due to customers in respect of previous loans made by CTL, as identified by CTL’s Claims Calculator.
Please note, where loans have been identified by the Claims Calculator as being unaffordable or in respect of which redress is due, we have requested that these loans are removed from customers’ records with the credit reference agencies.
In addition, as some customers were not able to make payments by their usual payment method since the administration date, the Joint Administrators froze all interest and charges on outstanding loan balances with effect from 25 February 2019.
Customers’ credit files should now reflect the final status of their loans, and we do not anticipate that any customers’ credit history will be adversely impacted as a result of the administration of CTL.
- 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.
Specific mailboxes have been set up if you have any of the following queries:
Alternatively, specific mailboxes have been set up if you have any of the following queries:
Alternatively, the customer service centre can be contacted by calling 0330 094 5695 or emailing email@example.com.
Please note, the customer service centre is currently receiving a high volume of enquiries. Please therefore review the Customer FAQs available on this website to see if your query can be dealt with before contacting the customer service centre.