• Sat. Nov 26th, 2022

Thousands of payday loan company customers set to receive compensation on Friday

ByMary M. Ward

Apr 11, 2022

Thousands of customers of the collapsed payday loan company are expected to receive compensation this week. 247Moneybox went bankrupt in 2019.

And now eligible borrowers are ready to receive repayments – starting Friday (April 15). Customers will receive 9.35 pence for each pound owed to them.

You will receive a payment if you have made a claim before January 31 and it has been accepted by the administrators. Customers who do not receive the expected payment by April 15 should email [email protected]

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In a statement at the time of its collapse, on the 247Moneybox website, it says it will “conduct an orderly liquidation of the business” and that the company’s customer service team “remains available to assist customers. available for any question”.

Harrisons Business Recovery & Insolvency has been appointed as a company administrator to help “achieve an orderly liquidation of the business”. In the statement, the companies said: “The company remains regulated by the Financial Conduct Authority which will continue to oversee the activities of the joint administrators throughout the administration process.”

Piggy Bank went bankrupt at a time when payday loan companies were in the headlines. Piggy Bank entered administration around the same time. At the time of the meltdowns, Martin Lewis’ MoneySavingExpert kept fans updated on everything they needed to know.

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