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When you yourself have currently had an offer or a FOS decision

The Administrators will set your redress quantity during the biggest of:

  • just just just what the Claims Calculator states;
  • any response that is final from WDA; and
  • the worth of redress based on the Financial Ombudsman.

Clients whom still owe a stability

Those who had a stability outstanding and who should get redress got a contact from the Administrators with all the topic information about your loan .

These e-mails had been provided for you aren’t a stability and a redress quantity determined, regardless if they will haven’t submitted an issue.

The Administrators’ proposals had been agreed, therefore the figures during these e-mails are no longer “provisional” but final.

In the event that you nevertheless owe cash following this decrease. Listed here is a typical example of the figures that are key

  • Outstanding loan stability at 25 2019 per CTL’s records 420 february
  • Less: Provisional stability modification (165)
  • Provisionally loan that is adjusted 255 .

If for example the redress is smaller than the total amount, you certainly will nevertheless owe some cash – £255 within the above instance.

Where somebody has just had one loan, it appears to be as if the total amount is paid down to your quantity borrowed less what the client has compensated up to now. This is just what FOS will have determined in the event that loan ended up being unaffordable.

The Administrators will contact you within the next couple of weeks to supply you with the banking account details in order to make re re re payments to. In the event that you curently have this info since you had been in a repayment arrangement, you are able to repayments now if you like.

The Administrators will soon be offering loans that are outstanding a debt collector. That you can easily clear, you may prefer to do that if you only have a small balance left. Or perhaps you can want to make a payment that is affordable utilizing the financial obligation collector.

In the event that redress is bigger than the quantity your debt

In case your determined redress is bigger than your stability your e-mail will look something similar to:

  • Outstanding loan stability at 25 2019 per CTL’s records 240 february
  • Less: Provisional stability modification (240)
  • Provisionally adjusted loan stability Nil .

You’ll then obtain a further e-mail (see below) saying you might be owed redress.

If you should be owed redress

You will have now been informed of this determined amount

The Administrators delivered email messages utilizing the topic important info about your redress claim .

  • exactly what your determined redress quantity is;
  • that you will be an unsecured creditor having a claim against CTL because of this redress quantity;
  • there clearly was key when you look at the e-mail to submit your claim – the due date for carrying this out has passed away. You’ll no further submit a Claim.

“My bank details have changed”

The publish Your Claim web page revealed the very last 4 digits of the banking account quantity that WDA had on file.

It is currently (20 May 2020) far too late to improve the account details for the very first run of repayments. Then of your new account if you do not receive your payment, inform the administrators.

Credit records

The Administrators will update clients’ credit files to get rid of credit documents for loans they own determined must be refunded as they are improper.

Calling the Administrators

No phone contact can be done as a result of Coronavirus. The e-mail for contact is:

Coronavirus – can’t pay debts & bills

Is the guarantor loan unaffordable?

Is just a DRO constantly much better than an IVA?


gordon nilsson says

good point they stated every who place in claim should make it money am now looking at contacted the F.O gays they are making on the funds as they need to look into this how much interest.

Sara (Financial Obligation Camel) says