On 29 June 2020, Elevate Credit International Limited (trading as Sunny) went into administration.
On 29 June 2020, Elevate Credit International Limited (best known by its trading name, Sunny) went into administration. Due to the nature of the company, no protection is offered to consumers under the Financial Services Compensation Scheme.
We are working with the administrators to clarify the impact on the cases already with us.
The administrators have confirmed that whether claims will be accepted – that is, whether complaints will be upheld and someone becomes a ‘creditor’ of the insolvent company – is now a decision for them. They will also decide how much is owed to each creditor.
This means we are unlikely to be able to progress any complaints about Elevate Credit International Limited any further, or to take on any new cases brought to us.
As a result, we expect to hand complaints to the administrators for them to assess. We’ll do this as soon as we can. We’ll write to individual consumers and claims management companies to explain this, to let them know that they don’t need to do anything further at this stage, and to say that the administrators will get in touch directly.
There is more information on Sunny’s website.
20 May 2022
PayPal (Europe) S.ar.l. et Cie, S.C.A (PayPal) is withdrawing from the Financial Ombudsman Service’s voluntary jurisdiction with effect from 1 December 2022. There will be an impact on the types of complaint we will be able to consider about PayPal.
13 April 2022
Today we’ve published data showing the number of complaints we received about individual businesses between 1 July and 31 December 2021.
31 March 2022
The FCA has today launched a consultation about redress and the British Steel Pension Scheme (BSPS). BSPS members do not need to wait for the outcome of the FCA consultation to complain, they can continue to get in touch with the Financial Ombudsman directly.