When you have currently had an offer or a FOS decision

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

  • just exactly what the Claims Calculator states;
  • any last reaction offer from WDA; and
  • the worthiness of redress dependant on the Financial Ombudsman.

Clients whom nevertheless owe a stability

Individuals who possessed a balance outstanding and who should get redress got a message through the Administrators utilizing the topic important info about your loan .

These e-mails had been provided for you aren’t a stability and a redress quantity determined, no matter if they will haven’t submitted an issue.

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

In the event that you nevertheless owe money following this decrease. The following is a typical example of the figures that are key

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

When your redress is smaller compared to the total amount, you can expect to still owe some cash – £255 within the example that is above.

Where somebody has just had one loan, it appears to be as if the total amount happens to be paid off towards the quantity borrowed less what the client has compensated thus far. This is exactly what FOS could have determined in the event that loan had been unaffordable.

The Administrators will contact you within the next couple of weeks to supply you with the banking account details to create re re re payments to. Because you were in a payment arrangement, you can make payments now if you want if you already have these details.


The Administrators may be offering loans that are outstanding a financial obligation collector. In the event that you have only a little stability left that you could effortlessly clear, you might like to do this. You can also intend to make an inexpensive repayment arrangement aided by the financial obligation collector.

In the event that redress is bigger than the quantity you borrowed from

Should your determined redress is bigger than your balance your e-mail will look something such as:

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

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

If you should be owed redress

You shall have now been informed for the determined amount

The Administrators delivered e-mails because of the topic important info about your redress claim .

  • exacltly what the determined redress quantity is;
  • you are an unsecured creditor with a claim against CTL with this redress quantity;
  • there was clearly key when you look at the e-mail to submit your claim – the due date for achieving this has passed away. You’ll no further submit a Claim.

“My bank details have changed”

The publish the Claim web page revealed the past 4 digits of one’s banking account quantity that WDA had on file.

It is currently (20 May 2020) far too late to alter the account details when it comes to very first run of repayments. If you fail to get your repayment, inform the administrators then of one’s brand new account.

Credit records

The Administrators will update clients’ credit files to eliminate credit documents for loans they own decided should always be refunded since they are inappropriate.

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

Will be your guarantor loan unaffordable?

Is really 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 considering contacted the F.O gays because they want to explore this exactly how much interest these are typically making regarding the funds.

Sara (Financial Obligation Camel) says