We are aware that Instant Cash Loans (“ICL”) entered a scheme of arrangement with its creditors (which includes customers and former customers of The Money Shop, Payday Express, Payday UK and Ladder Loans) before it looks to close down the company.

We are aware that Instant Cash Loans (“ICL”) entered into a scheme of arrangement on 9 October 2019 before it looks to close down the company.

Where there is a creditor and court-approved scheme like this one, customers with complaints will be able to make a claim for redress directly through the scheme.

In these circumstances it would not appropriate for us to consider covered complaints against ICL. The exception to this is complaints about pawn-broking, which we understand aren’t affected by the scheme. All other complaints should be referred directly to ICL.

You can find more information on ICL’s website.

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Ombudsman News 163

29 July 2021

Welcome to Ombudsman News. In this edition, we share new content on our approach to complaints about flood damage, and resources on our SME website for small businesses with complaints caused or impacted by the pandemic. And in our latest blog, we take a look our support for Papyrus UK and Business2Schools.

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