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Micro Lend Uk - Credit Licence Suspended - Wage Payment and Payday Loans Limited

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  • Re: Micro Lend Uk - Credit Licence Suspended - Wage Payment and Payday Loans Limit

    Same address then ? explains the and/or in the FCA requirements then.
    #staysafestayhome

    Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

    Received a Court Claim? Read >>>>> First Steps

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    • Re: Micro Lend Uk - Credit Licence Suspended - Wage Payment and Payday Loans Limit

      Dunno AME haven't been here for a couple of weeks (not for very long that is) I'm now trying to catch up with what's happening ALSO our new family addition Elsie has some lungs on Her. She lets everyone inside (& outside) the house know when She want's owt! AND She want's a lot..........mostly cuddles it seems as She hates being put to lay down

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      • Re: Micro Lend Uk - Credit Licence Suspended - Wage Payment and Payday Loans Limit

        awww you're loving it really xx Elsie is a lovely name for a baby btw.
        #staysafestayhome

        Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

        Received a Court Claim? Read >>>>> First Steps

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        • Re: Micro Lend Uk - Credit Licence Suspended - Wage Payment and Payday Loans Limit

          Opos have been the DCA of choice for minicredit. I knew this was coming as minicredit doubled the amount of my alleged debt a month ago on my credit file although this month it has mysteriously vanished . Luckily I have a full copy of all correspondence including letters written for me

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          • Re: Micro Lend Uk - Credit Licence Suspended - Wage Payment and Payday Loans Limit

            Originally posted by jon1965 View Post
            Opos have been the DCA of choice for minicredit. I knew this was coming as minicredit doubled the amount of my alleged debt a month ago on my credit file although this month it has mysteriously vanished . Luckily I have a full copy of all correspondence including letters written for me
            Is your minicredit debt with Opos or at a DCA ? Seems ones at DCA's are being ditched completely.


            Just writing a non descript 'story' for homepage


            Microcredit / MiniCredit have left the payday loans market. Within the next 7 days Microcredit Limited t/as Minicredit will be writing to customers to inform them that after 5 years of business they have decided to cease trading and wind down their business in the UK.
            The company have applied to the FCA to cancel their authorisation to carry on the business. From 4pm on December 10th 2014 the company was no longer permitted to carry on consumer credit regulated activities in the UK which means they cannot grant loans, rollover or extend loans, add interest or charges to loans or engage in any debt collection activities.
            You can read the voluntary requirements here.
            Microcredit-vreq(1) (PDF DOWNLOAD) Voluntary Application for Imposition of Requirement: Microcredit Limited
            Some of the companies loans have been transferred to two companies, Opos Ltd and Kapama Ltd. Other debts have been transferred to debt collection companies such as Fredericksons or Mackenzie Hall and any accounts that have been transferred to those companies will be cancelled.
            via Financial Conduct Authority.
            #staysafestayhome

            Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

            Received a Court Claim? Read >>>>> First Steps

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            • Re: Micro Lend Uk - Credit Licence Suspended - Wage Payment and Payday Loans Limit

              Originally posted by Nibbler View Post
              CSA website:



              For some rerason I find it amusing that with one mistype they become Oops!
              I noticed that too Nibbler - in fact I had trouble understanding Jon's last post as I was under this misapprehensionx

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              • Re: Micro Lend Uk - Credit Licence Suspended - Wage Payment and Payday Loans Limit

                As far as I know the account that started at £200 and in a matter of weeks went to £1200 is still with minicredit. They have as much hope as enforcing it as it stands as I have of becoming the next Queen . I have heard nothing from them for over two years now

                I am not sure if opos and minicredit are linked, some on Cag say they are but I haven't been able to find the evidence

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                • Re: Micro Lend Uk - Credit Licence Suspended - Wage Payment and Payday Loans Limit

                  Missed this - https://www.fca.org.uk/news/press-re...-sole-director

                  UPDATE 28th Sept
                  https://www.fca.org.uk/publication/f...-hart-2016.pdf
                  ( read the appendix )


                  The Financial Conduct Authority (FCA) has today published a Decision Notice issued to Andrew Barry Hart, director of Wage Payment and Payday Loans Limited (WPPL), and a Decision Notice issued to WPPL. The FCA has decided to prohibit Mr Hart from performing any role in regulated financial services and has decided to cancel WPPL’s interim permission.
                  WPPL is a consumer credit firm that provides payday loans (a form of high-cost short-term credit) under the trading names 'Payday Overdraft', ‘Wagepayday’ and ‘Doshloans’. Mr Hart is the sole director, controller and ultimate owner of WPPL.
                  Mr Hart and WPPL dispute the FCA’s decisions and have referred their cases to the Upper Tribunal (the Tribunal). Accordingly, the findings in these Decision Notices are provisional pending the Tribunal’s determination of Mr Hart and WPPL’s references. In relation to the FCA’s decisions to prohibit Mr Hart from any regulated role and cancel WPPL’s interim permission, the Tribunal will determine whether to dismiss the reference or remit it to the FCA with a direction to reconsider and reach a decision in accordance with the findings of the Tribunal. The Tribunal’s decisions will be published on its website.
                  Mr Hart

                  The FCA has found that Mr Hart is not a fit and proper person because he lacks integrity and competence. In the FCA’s view, between 1 April 2014 and 28 August 2014, he took a reckless approach to managing WPPL and to complying with regulatory requirements. Mr Hart recklessly contributed to and failed to address unfair business practices carried on by WPPL.
                  Mr Hart failed to take reasonable steps to implement appropriate policies and procedures relating to creditworthiness, affordability and forbearance. He also failed to take reasonable steps to ensure that WPPL had appropriate systems in place to communicate with customers, to ensure that customer complaints were dealt with adequately, to provide proper oversight of WPPL’s staff and to ensure that WPPL’s loan agreements complied with regulatory requirements.
                  Mr Hart’s failings had a direct impact on WPPL’s customers, who were often treated unfairly and were frequently misled. Customer complaints were commonly disregarded, and excessive sums were taken out of some customers’ bank accounts. In some cases these practices caused financial loss to customers, many of whom were already in financial difficulties.
                  WPPL

                  On 28 August 2014, WPPL submitted an application for the imposition of requirements on its interim permission. Since that date, WPPL has not been permitted to lend to new or existing customers or to engage in any outbound collection of any debts due to it under regulated credit agreements (except in the limited circumstances specified in the requirements on its interim permission).
                  The FCA has decided to cancel WPPL’s interim permission because it is failing to satisfy the threshold conditions regarding appropriate resources and suitability, for reasons including its connection with Mr Hart.
                  Notes to editors

                  1. The Decision Notice for Andrew Barry Hart.
                  2. The Decision Notice for WPPL.
                  3. WPPL’s Application for Imposition of Requirements dated 28 August 2014.
                  Last edited by Amethyst; 3rd August 2017, 18:13:PM.
                  #staysafestayhome

                  Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

                  Received a Court Claim? Read >>>>> First Steps

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