Aggregated News From Investment Management Regulators

Short Term Finance Ltd enters Creditors Voluntary Liquidation

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On 19 January 2023, Short Term Finance Ltd entered creditors’ voluntary liquidation. Michael Solomons and Milan Vuceljic of Moorfields Advisory Ltd were appointed Joint Liquidators.

Short Term Finance Ltd is a high-cost lender based in Birmingham. It offered customers home collected cash loans of between £100 and £300, with a maximum repayment term of 16 weeks. It also offered Love2shop gift cards with a maximum 15-week repayment term. All existing loan agreements remain in place, although the firm is no longer able to issue new loans.

The Joint Liquidators will provide updates to customers as soon as possible.

If you have any questions regarding your loan or the liquidation, please contact Moorfields Advisory Limited on 0207 186 1170 or by e-mail at [email protected].

The firm’s liquidation does not change the payment terms and conditions of customers’ loans, these are the same as when the loan was taken out. The firm remains subject to the same regulatory rules and requirements as it did prior to its liquidation.

Customers should continue to make repayments as normal. Failure to do so could affect customer credit records. The FCA is in regular contact with the firm and the Joint Liquidators regarding the fair treatment of customers.

Short Term Finance Ltd’s customers will not be covered by the FSCS for outstanding complaint redress awards as consumer credit lenders are not covered by the scheme.

Customers who are struggling financially can get free and impartial guidance from MoneyHelper.

This news item was originally published by the Financial Conduct Authority (FCA UK). For more information, please see the Source Link.

Regulator Information

Regulator Name: Financial Conduct Authority
Abbreviation: FCA
Jurisdiction: United Kingdom

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