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The Cheque Centre

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  • The Cheque Centre

    Hi,

    Not sure if this is the correct place to post but I have just read an article on the Mail on Sunday website about the above company and their tactics.

    It's worth a look as it exposes the lengths companies like this will go to to obtain payments from their customers.

    Ruthie
    Tags: None

  • #2
    Re: The Cheque Centre

    http://www.dailymail.co.uk/news/arti...-just-day.html

    Is that the article Ruthie?
    and there is more

    http://www.dailyrecord.co.uk/news/sc...y-loan-2240215

    http://www.mirror.co.uk/news/uk-news...iggest-2070924

    Comment


    • #3
      Re: The Cheque Centre

      Hi Enaid,

      Yes, that's the one. The sooner these loan sharks are shut down, the better.

      Ruthie

      Comment


      • #4
        Re: The Cheque Centre

        That's Horrendous!! These companies should be stopped. The problem with these are once you take out one for an emergency you are then in a cycle. I've still struggling to get out of mine and its been over 2 years. They are forever sending emails to borrow again. Shouldn't the responsible lending come into play here. I mean I know it is the person's responsibility now to over borrow but surely they should be at least doing credit checks. I remember when I took out mine all I needed was my wage slips. More and more are falling into the trap because of the cost of living is making many families live hand to mouth and at times not even that. Its really sad.

        Comment


        • #5
          Re: The Cheque Centre

          Some good news on this company http://www.legalbeagles.info/forums/...Loans-Business
          #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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          • #6
            Re: The Cheque Centre

            Quids in http://www.edinburghnews.scotsman.co...700k-1-3309024

            Comment


            • #7
              Re: The Cheque Centre

              Ahh yes, remember that now thanks Nelly. Wonder if the discount was on the basis they stopped doing payday loans then? Lol.
              #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

              Comment


              • #8
                Re: The Cheque Centre

                Cheque Centre highlights uncertainty about future trading


                Mark Williamson
                Group Business Correspondent



                Thursday 4 December 2014
                CHEQUE Centre the Edinburgh-based financial services firm has noted a material uncertainty about its going concern status, after posting increased losses amid a regulatory shake up of the payday loan market.

                Text hereCHEQUE Centre the Edinburgh-based financial services firm has noted a material uncertainty about its going concern status, after posting increased losses amid a regulatory shake up of the payday loan market.
                Accounts for US-owned Cheque Centres Limited show the company lost £11.3m before tax in 2013 compared with £5.4m in the preceding year.
                In the accounts directors highlighted the impact of early moves by the Financial Conduct Authority, which took over as the regulator of the short term lending market in April.
                They said based on proposed new rules around the payday loan product and the lack of visibility on an interest rate cap, in May the Directors decided to withdraw from consumer lending for the remainder of 2014 and to restructure the business.
                The payday loan product contributed to 70 per cent of the company??s gross profit in 2013.
                The restructuring involved the closure of the majority of the company??s stores.
                The directors noted the uncertainties that exist in respect of future trading gave rise to a material
                uncertainty, which may cast significant doubt over the company??s ability to continue as a going concern.
                They added: ??The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and consider it appropriate to prepare the financial statements on a going concern basis.??
                The company has prepared a business plan which includes consumer lending and strategic development of its remaining store portfolio to be launched in early 2015, with funding secured from its parent company for the transition.
                The ultimate parent company is CNG Financial Corporation.
                #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

                Comment

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