Tweet
FCA: Microcredit Limited
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.
More...
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.
More...
