Chris Laverty, Trevor OSullivan and Helen Dale of Grant Thornton UK LLP were appointed as Joint Administrators of MMP Financial Limited on 9 December 2019, and were subsequently appointed as Joint Liquidators on 15 June 2020.

The Joint Liquidators ceased collections activity on 6 November 2020 and are no longer accepting loan applications or payments relating to existing loans. A first and final distribution to unsecured creditors including redress customers was made on 2 December 2020 following the closure of collection operations.

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Rates


Daily interest will accrue on the outstanding principal loan amount at a rate of 0.8% per day. Please find the below examples of a typical 5-payment instalment loan where payments occur every 30 days. The total amount of interest charged will vary based on loan amount and total loan term.

Amount
Borrowed
Total Amount
Payable
APR
£300£546.351296%
£900£1,639.101296%
£1,500£2,731.851296%
Missed payments may be subject to an additional fee of up to £15. Defaulting on a loan could result in a damaged credit score, and affect your chances of borrowing from other companies in the future as missed payments will be reported to credit reference agencies.
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

Representative Example:

If £300.00 was borrowed for 140 days at a fixed daily rate of 0.8% (292% per annum), the total amount repayable is £528.30 (5 total payments of £105.66).
1296% APR Representative.