This is your claim assessment for compensation in the Morses Club Scheme Limited Scheme of Arrangement. This is your Determination Notice.
Details of the proposed Scheme were issued in the Scheme Document, which can be found at https://www.morsesclubscheme.com/documents/.
To access your statement you must be registered on the Portal. If you have not registered, please click here and enter your individual details which are included on the letter, email or SMS that we sent to you.
We are currently processing all claims. An Outcome Statement will be uploaded to the claims portal. When your claim has been assessed you will receive an email advising you that you can view your outcome statement.
If you submitted a claim to Morses Club (excluding claims automatically submitted following submission on the Scheme) after 11 August 2022 but prior to the Scheme Effective Date (30 May 2023) this is the amount of the refund you will receive for your payments made against your current loans from the date of the claim up to the Effective Date.
If you have settled your account(s) in full during this period, you will be entitled to any overpayment to be repaid in full.
You would only have received a VREQ payment if you submitted a claim to Morses Club (excluding claims automatically submitted following a vote on the Scheme) after 11 August 2022 but prior the Scheme Effective Date (30 May 2023).
Depending on your individual circumstances, payments will be made in accordance with the Scheme:
1. Set-off against loans that have been sold to Debt Purchasers
This payment will be set off against any loans that have previously been sent to a Debt Purchaser - You will not receive this amount in your bank, however your debt will reduce.
2. Set-off against your current loans
This payment will be set off against current loans - You will not receive this amount in your bank, however your debt will reduce.
3. VREQ Refund Payment
Your VREQ refund will be processed within 30 days of you receiving your Outcome Statement - This payment will be paid directly into your bank within 30 days of the notice providing you have given us your bank details. Please ensure you provide your bank details in the Portal.
4. Scheme Payment Refunds
This refund relates to any repayments that you have made on your loans since the Effective Date (30 May 2023).
- This payment will be be paid directly into your bank within 30 days of the notice providing you have given us your bank details. Please ensure you provide your bank details in the Portal.
5. Ascertained Scheme Liability
This is the balance of the compensation that is owed to you under the Scheme. Please be aware that this amount will not be paid to you in full. Morses Club currently estimates that under the terms of the Scheme, you will receive approximately 20% of this amount - This payment is expected to be paid directly into your bank around the fourth quarter of 2024.
If you are eligible for a refund we are requesting that you upload your account number and sort code into the secure Claims Portal. We will use these details to process any monies owed to you.
This is where any compensation is applied to any outstanding balances with Morses Club or third party Debt Purchaser. If this is applicable to you it will be shown on your individual Outcome Statement.
This payment will be set off against current loans – this will reduce your outstanding balance.
This payment will be set off against any loans that have been sold to a Debt Purchaser – this will reduce your outstanding balance.
This is the balance of the compensation that is owed to you under the Scheme. Please be aware that this amount will not be paid in full. Morses Club currently estimates that under the terms of the Scheme, you will receive approximately 20% of this amount and this payment is expected to be made around the fourth quarter of 2024. As an example, if your Ascertained Scheme Liability is £1000.00, we expect you to receive approximately £200.00 (20%).
The Claims Methodology is set out in Schedule 3 of the Scheme document which can be viewed at https://www.morsesclubscheme.com/documents/.
If you think you received more loans between 1 April 2007 to 2 August 2022, than detailed on your Outcome Statement, you will need either your signed loan agreement(s) or a full account statement and you can appeal the decision via the portal.
All loans that are upheld by the Scheme will be updated at the Credit Reference Agencies (CRA) within 56 days of the Outcome Statement being issued.
If you do not agree with the outcome of your claim, you can appeal. You will need to provide details of why you do not agree with the way we have determined your claim and/or explain why you consider the loan or loans issued to you were unaffordable or unsustainable.
When your appeal is processed you may be asked for additional information, these requests will be issued via your chosen communication method i.e. Claims Portal, Post.
You can submit an appeal on the Claims Portal or by contacting us directly. Details can be found here.
If you are providing information that wasn’t included in your original claim, we will accept evidence as per below:
Medical Appeal:
It should be:
Unaffordable/Unsustainable Lending Appeal:
If you are appealing due to other issues such as your financial situation at the time of taking the loan you will need to provide further details and evidence such as:
It should be:
Morses Club will review the appeal to ensure the Scheme Methodology has been applied correctly. They will also review any additional information or evidence you have provided as part of your appeal. If you still do not agree with the outcome, an independent adjudicator is legally appointed to review the appeals and any evidence submitted to ensure that the Scheme Methodology and any additional information supplied has been assessed correctly.
If you think you received more loans between 1 April 2007 to 2 August 2022, than detailed on your Outcome Statement, please provide us with any supporting evidence you have. This can be a copy of your credit report, account statements or loan agreements etc.
If you are unhappy with your appeal outcome please contact us directly.
Details can be found here.
We will forward your appeal for adjudication by the the independent Scheme Adjudicator.
The independent Scheme Adjudicator is Norton Rose. You do not need to contact Norton Rose directly, as the Claims Portal automatically sends the second appeal to the Scheme Adjudicator. Correspondence from the Scheme Adjudicator will be submitted through the Claims Portal to ensure there is a clear audit trail of actions and evidence that has been submitted.
Morses Club will review any appeals with 30 days of receiving that appeal.
If the appeal is sent for adjudication, the Adjudicator has 60 days to respond to the appeal.
If you are not satisfied with the amount of compensation offered in the Scheme, you can ask for your claim to be reviewed by an independent person known as a Scheme Adjudicator. The Scheme Adjudicator will independently assess your claim and determine the value of your claim.
Additional fees and charges added by the debt purchasers have already been considered within the claim methodology, these figures have already been obtained from the debt purchaser and set off will be applied accordingly. If you have incurred any fees whilst objecting to the court application, please provide evidence and where appropriate, we will reimburse these directly to you.
If you have a current loan with us, we will assess your claim and provide you with a provisional outcome. This will include applying any potential compensation to offset the outstanding balance on your account(s), where this reduces your balance to nil, we will advise you to cease making your repayments. You will be issued a final outcome when the assessment of your claim has been completed.
If the Company became insolvent, an Insolvency Administrator would be appointed and all loans would remain subject to their existing payment terms agreed with the Company and you should continue to make payments.
If the Company became Insolvent, an Insolvency Administrator would be appointed and all loans would remain subject to their existing payment terms agreed with the Company and you should continue to make payments.
We have estimated that the amount of money available to pay cash compensation in the Insolvency scenario will be significantly less than the cash compensation expected from the Scheme.
IThe compensation fund is expected to be at least £20 million. This will be shared between all Scheme Creditors with valid claims. However, to receive a share in this compensation fund, you will need to make a valid claim prior to the 30 November 2023.
The Claims Deadline is 5pm on 30 November 2023.
If you do not submit a claim by the deadline, you will lose any right to compensation for a claim that you could have made for loans taken between 1 April 2007 and 2 August 2022.
Once all the claims have been checked, we will divide the compensation fund between Scheme Creditors proportionally based on the amount of their valid claim (after debt-reduction and refund payments).
Medical evidence would include:
It should be:
All customers are invited to provide any supporting information to events that may have impacted their ability to borrow at the point the loan was issued to them. This will be considered along with other factors in deciding the outcome of your claim.
A letter of authority from the customer or power of attorney depending on the circumstances.
You just need to log in to the Scheme Portal and update your claim and upload any supporting information. If you are having difficulties with this, please call us on: 0333 011 0688.
You can do this by calling us on: 0333 011 0688.
Yes, send it to Morses Club, Building 1, The Phoenix Centre, 1 Colliers Way, Nottingham. NG8 6AT.
All customers are invited to provide any supporting information to events that may have impacted their ability to borrow at the point the loan was issued to them. This will be considered along with other factors in deciding the outcome of your claim.
You will need to provide one of the following:
Along with proof of your identity to ensure you have the relevant authority to act on behalf of the deceased customer.
The evidence can be uploaded by your third-party representative directly via the Scheme Portal.
If you are not satisfied with the assessment of your claim you can challenge the assessment and we may ask you to provide further information. If you continue to disagree with our final decision you will need to provide the reason for the disagreement and your claim will be reviewed by an independent person known as a Scheme Adjudicator who will reassess and adjudicate on the claim. Please note the Explanatory Statement provides more information on the claim and adjudication process.
Morses Club has received an increased volume of complaints from some customers claiming that Morses Club failed to complete the right checks when the loan was provided to them. As a result, Morses Club has decided to use a Scheme of Arrangement (Scheme) to ensure that all eligible customers are treated equally and receive the appropriate level of compensation due to them.
A Scheme of Arrangement is a legal arrangement between a company and its creditors – in this case, you may be a creditor if you are due compensation in relation to historic loans that you have had with Morses Club.
We have attempted to contact all existing and former customers who we believe may be entitled to make a claim for compensation by emails, letters and text messages.
If you believe you are eligible for compensation and you have not received any correspondence, you can update your details by emailing [email protected]. You can view all previous correspondence at https://www.morsesclubscheme.com/documents/.
Morses Club will confirm timescales as the Scheme progresses. In outline, Morses Club anticipates the following:
The current forecast for paying claims is likely to be in 2024.
Morses Club Scheme Limited is the legal entity that has been created to ensure that all customer claims are processed in line with the conditions of the Scheme.
Registering your interest on the portal is the best way to keep up to date with the Scheme progress, this way you will receive alerts and any updates.
Scheme Creditors and the Court have approved the Scheme. Accordingly, the Scheme became effective on 30 May 2023.
The next stage for the Scheme is the Claims Period.
It is important that you take the necessary action once we ask you. At present you can register your interest and submit a claim against the scheme.
The amount of compensation that you may be eligible to receive will depend on your specific circumstances and the timing of the loans that you had with Morses Club. The Practice Statement Letter has been sent to you because Morses Club cannot afford to pay compensation in full, but the letter explains how we plan to pay as much compensation as possible. Further details will be provided in due course.
The method to be used to assess whether someone is entitled to compensation has been reviewed by an independent skilled person.
We have attempted to contact all existing and former customers who we believe may be entitled to make a claim for compensation by Emails, letters and text messages.
If you believe you are eligible for compensation and you have not received any correspondence, you can update your details by emailing [email protected]. You can view all previous correspondence at https://www.morsesclubscheme.com/documents/
If you believe you are eligible for compensation and you have not received any correspondence, you can update your details by emailing [email protected].
We have contacted you because you have previously taken a loan with Morses Club and we are proposing a ‘Scheme of Arrangement (Scheme)’. We wanted to let you know that you may be entitled to compensation, even if you no longer have a loan with us.
The Scheme will allow customers to make a redress claim if they received a loan between 1 April 2007 and 2 August 2022 which should not have been issued because it was not affordable. You are encouraged to read the Scheme information that can be found on the Documents page of this website.
If you have received a letter, e-mail or text message, this will contain your personal Scheme Reference Number.
The Scheme Reference Number contains 12 characters in the following format: MSRNXXXXXXXX
We can register your interest and submit a claim on your behalf. Please get in touch by using the details found on the Contact Us page.
We can update your details. Please contact your local Customer Support Associate, or use the details found on the Contact Us page.
Yes, you will need to register on the portal using the Scheme Reference Number. If you do not have this, please email [email protected].
Yes, you will need to register on the portal using the Scheme Reference Number provided on the recent letter, email or SMS, you should insert your email address to receive future communications.
We have merged all accounts to simplify your registration. You have been issued with one unique Scheme Reference Number and only need to register once.
If you have already registered on the portal and have forgotten your password, you can use the password reset link that is provided on the login page. You will need to enter your email address and Scheme Registration Number.
Your password is only valid for 90 days after which you will need to reset it at Morses Club Scheme Claims Portal.
Yes, you can obtain this number by contacting Customer Services on 0333 011 0688 or by emailing us [email protected].
Yes you are still able to submit claims to Morses Club. To be considered for the Scheme, you need to submit a claim before the Scheme deadline (5pm 30 November 2023).
Calls will be charged at your local rate.
We have processed all complaints that were registered before this date and our complaints team have issued a Final Response.
You have the right to refer your complaint to the Financial Ombudsman Service, free of charge but you must do so within six months of the date of our final response.
If your complaint has additional concerns not related to unaffordable lending, we will log this as a separate complaint and process this in line with Morses Club’s standard complaint handling procedure.
Your queries should be emailed to [email protected]. Alternatively, you can call 0333 011 0688, for the latest update via a pre-recorded message or hold to speak to an agent.
Yes, we will continue to process any DSAR requests received. These are usually responded to within one month from the day of receipt.
Morses Club Limited is still actively trading and supporting new and existing customers.
Yes, customers should continue to pay amounts due.
If you are experiencing financial difficulties, then we will do our best to help you. We can ask your Customer Services Associate (CSA) to contact you to assist you or we recommend that you seek free and impartial advice to help understand what options are available to you.
PayPlan
We work closely with PayPlan who offer free, impartial and confidential debt advice and free debt management plans.
Website: https://www.payplan.com/
Money Advice Service
The Money Advice Service helps you manage your money better. It provides free and impartial money advice.
Website: www.moneyadviceservice.org.uk/en
National Debtline
National Debtline is a leading debt advice charity. It provides free help and advice on dealing with your debt in England & Wales.
Website: www.nationaldebtline.org/
Step Change
The UK’s leading debt charity to get expert debt advice and fee-free debt management to help you tackle your debts.
Website: www.stepchange.org/
Mind
Mind provides advice and support to empower anyone experiencing a mental health problem. They campaign to improve services, raise awareness and promote understanding.
Website: www.mind.org.uk
Email: [email protected]
Freephone: 0300 123 3393
NHS
Information on mental health support services.
Website: www.nhs.uk/using-the-nhs/nhs-services/
Information on physical health support services.
Website: www.nhs.uk/live-well/
Benefits Checker: Turn 2 Us
Turn2us is a national charity that helps people in financial hardship to gain access to welfare benefits, charitable grants and support services.
Website: www.turn2us.org.uk/
Please be aware that failure to repay your loans may have a negative impact on your credit file and impact your ability to borrow in the future.
There is nothing to stop you using a CMC to help you register your interest. You should be aware that CMCs charge for any valid claims paid which will reduce the compensation you receive.
We have made the Scheme Portal as simple as possible so that you can register your interest without third-party assistance.
If your nominated CMC has issued a claim on your behalf prior to 13 December 2022, you do not need to take any action, we have automatically registered your claim and advised your third party.
We will review all future borrowing requests on a case by case basis. All loans are subject to status and affordability assessments.
If you believe that the loan(s) made to you were unaffordable, you will be able to submit a claim in the Scheme.
Yes, regardless of your payment history, any customer can make a claim.
Yes, regardless of your payment history, any customer that is eligible can make a claim.
We are committed to supporting all our customers fairly and equally. We will process all claims against the same timeline and will not be able to fast-track claims.
If you believe that the loan(s) issued to you prior to the 1 April 2007 were unaffordable, you will be able to submit a claim via our normal complaints process.
You can email us directly [email protected], write to us at Building 1, The Phoenix Centre, 1 Colliers Way, Nottingham, NG8 6AT or call us on 0330 045 0719.
If you believe that the loan(s) made to you after 2 August 2022 were unaffordable, you will be able to submit a claim via Morses Club’s normal complaints process.
You can email us directly [email protected], write to us at Building 1, The Phoenix Centre, 1 Colliers Way, Nottingham, NG8 6AT or call us on 0330 045 0719.
The current Scheme is for Morses Club Home Collect Credit customers only. If you would like to make a complaint against Dot Dot Loans, please email [email protected] or call on 0333 240 6215.
If the Scheme is approved, as part of the Claims process you will be requested to provide your bank details to allow us to make payment, to your nominated account via the BACS system.
We are assessing if we can make payments by cheque for customers who do not have bank accounts.
FOS has published the following information for customers of Morses Club Limited.
https://www.financial-ombudsman.org.uk/news-events/information-customers-morses-club-plc
We encourage our customers to register their interest in the Scheme using the portal. This is the most effective way to keep up to date and monitor progress of the Scheme and ultimately any claim. It is also the most secure way to share information with us that may be required.
If you do not wish to use the Portal, we can register your details on your behalf, you can do this by telephone 0333 011 0688 or you can write to us at Building 1, The Phoenix Centre, 1 Colliers Way, Nottingham, NG8 6AT. Alternatively, our address can be found on the Contact Us page at www.morsesclub.com.
We will then ensure all communication is managed manually via the post.
Please make sure you are using the email address you registered with and are typing your MSRN exactly as displayed on any correspondence you have received. Make sure you check your junk folder for the email with a reset link.
The reset links are only valid for 48 hours, if you have requested it before that time please go through the password reset process again at https://claimsplatform.apphub.pwc.com/Pages/PasswordReset/ForgotPassword.aspx.
You can do this by calling us on: 0333 011 0688, or by emailing us at [email protected]