Following the appointment of the Joint Administrators:
1. There will be no new lending activity; and
2. All outstanding loans remain subject to the terms agreed with the Company and borrowers should continue to make payments in the usual way according to the Company’s terms and conditions.
The Joint Administrators will conduct an orderly wind down of the business and sale of the assets and start the process of identifying all creditors, in accordance with their statutory obligations.
The Joint Administrators will continue to work closely with the Financial Conduct Authority (FCA) as the administration process progresses, supporting customers where possible during this period.
All outstanding loans remain subject to the terms agreed with Swift Sterling or My Money Partner and customers should continue to make payments in the usual way. Those customers with complaints should continue to approach the company in administration. These complaints will then be assessed and if valid dealt with as unsecured creditors of the administration estate.