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.
7 August 2025
Financial complaints needing our intervention have fallen to their lowest level in over a year, according to new quarterly figures published today.
28 July 2025
Today the Financial Conduct Authority (FCA) announced the appointment of Liam Coleman as interim chair to the board.
15 July 2025
The Financial Conduct Authority (FCA) and Financial Ombudsman Service are seeking to modernise the financial redress system to help prevent it becoming overwhelmed, delaying consumer compensation.
