Frequently Asked Questions (“FAQs”)

The Company entered into administration on 17 November 2023. As a result, Morses Club is no longer issuing any new loans.

Please continue to make payments against your outstanding loans in the usual way. The Customer Portal will continue to operate and we will continue to be in contact through SMS, email and your Customer Service Representative when your loan repayments are due.

If you make payments directly to the Company by the way of debit card, Customer Portal, cash, cheque, PayPoint or otherwise, you should continue to make payments in the usual way.

If regular payments are collected via standing order, you do not need to take any specific action as a result of the administration, and your payments should continue as usual.

You will need to repay your loan as normal and should continue to make payments in the usual way, as not doing so is likely to impact your credit score and your ability to borrow. The Company will continue to update your credit file as usual.

The administration does not impact any outstanding loan balances. Therefore, any payments due in respect of your outstanding loan balances should continue to be paid as normal, as not doing so is likely to impact your credit score and ability to borrow.

Your credit file will be updated as usual depending on the repayment of your loan.

Yes, the Customer Portal continues to be available for customers to access their account information, amend their contact details, make repayments or contact one of our team.

Yes, the customer service team continues to operate in the normal way and can assist you with your query. Contact details are provided below.

If you are experiencing financial difficulties, are worried about how your situation may affect an existing loan, or you have any particular needs we should be aware of, please contact the customer service team. Contact details are provided below.

The administration does not impact any balances outstanding and therefore, please continue to make payments to any third party who is managing the payment of your debt as usual (i.e. a bankruptcy trustee, IVA or debt management companies).

If your loan is being collected by our collection agent, Credit Resource Solutions Limited (“CRS”), please continue to make payment as usual.

If your loan was purchased by Lantern or Lowell, please continue to pay any outstanding balances to them as usual as any non-payment will affect your credit score and affect your ability in the future to obtain finance. It is expected that Lantern and Lowell will continue to update your credit file as usual.

Morses Club will not be lending again in the foreseeable future.

Please see the Scheme website for further information regarding the Scheme - https://www.morsesclubscheme.com/

Customers who have made a complaint against Morses Club prior to it entering into administration may have a claim against Morses Club and will be contacted by the Administrators in relation to their potential claim in due course. This includes customers awaiting a response to their complaint, customers who have received a ‘final response letter’ from Morses Club with an offer of redress but have not returned it, and customers who have taken their complaint to the FOS. The Administrators will determine a process for agreeing creditor claims and will then contact relevant customers (including those who have already made a complaint), explaining what they need to do next in order to progress their claim.

Customers who made a complaint in the Scheme should visit the Scheme website for further information - https://www.morsesclubscheme.com/. The Joint Administrators anticipate providing a further update to Scheme Claimants on the status of their claims in due course. Scheme Claimants with an Ascertained Scheme Claim will be treated as unsecured creditors in the administration of Morses Club and further information will be provided in due course.

The Joint Administrators have been in dialogue with the Financial Ombudsman to understand what impact the Administration has on any new complaints referred to the Financial Ombudsman during the Administration, and on any existing complaints that it may be dealing with.

Following the appointment of the Joint Administrators, it is our understanding that the Financial Ombudsman is unlikely to progress new or existing complaints against Morses Club further. Instead, all cases received by the Financial Ombudsman in relation to Morses Club will be dealt with by the Joint Administrators.

Whilst customers still have a right to refer a complaint to the Financial Ombudsman, it will now be the Joint Administrators who will determine whether a complaint should be upheld and whether a customer with an upheld complaint should be treated as an unsecured creditor in the Administration.

The Financial Ombudsman will therefore refer any complaints received against Morses Club to the Joint Administrators.

Customers will not be approached by the FCA, Interpath Advisory or the Joint Administrators directly unless we are responding to your request.

Do not give details of any claim or any personal or bank account details to anyone who approaches you alleging that they work for the FCA, Interpath Advisory, the Joint Administrators or the Company, or otherwise. If you do require assistance or are unsure as to the validity of any correspondence you have received, please contact the customer service team on 0330 045 0719.

If you are unhappy with any aspect of our service please get in contact with Morses Club in the normal way:

Via the website: www.morsesclub.com/contact-us

Via the Customer Portal - https://www.morsesclub.com/customer-app.

By telephone: 0330 0450 719
Mon – Fri: 09:00 – 17:30
Sat – Sun: Closed

In writing:
Customer relations
Complaints Department,
Morses Club, Building 1, The Phoenix Centre,
1 Colliers Way,
Nottingham
NG8 6AT

Please note that the customer services team is experiencing a higher volume of enquiries than normal at this time.

Morses Club entering administration means that it is insolvent and does not have sufficient assets to pay its debts in full. In an insolvency, all unsecured creditors receive an equal share of those funds which are remaining after the costs have been settled and both the secured and preferential creditor claims are paid in full. The remaining funds are distributed equally to all unsecured creditors with a valid claim, based upon the value of their claim.

The level of the dividend to creditors is set by the funds which remain available after asset realisations are complete, and the costs have been paid, together with the level of creditor claims we receive. The Joint Administrators have a statutory duty to treat all unsecured creditors equally.

However, at this stage it is uncertain whether there will be any return to unsecured creditors. Further information will be provided in due course should it be deemed likely that there are sufficient funds available to make a distribution to unsecured creditors.

You can submit a proof of debt for your claim by filling out the creditor claim form found at http://morsesclub.ia-insolv.com.

Customers and creditors will not be approached by the FCA, Interpath Advisory or the Joint Administrators directly unless we are responding to your request.

Do not give details of any claim or any personal or bank account details to anyone who approaches you alleging that they work for the FCA, Interpath Advisory, the Joint Administrators or the Company, or otherwise. If you do require assistance or are unsure as to the validity of any correspondence you have received, please contact the customer service team on 0330 045 0719.

Statutory notices, documents and periodic reporting updates will be provided on the Joint Administrators’ portal page: http://morsesclub.ia-insolv.com.

Future updates on the Administration will also be made available on this portal page in due course.