Are other companies loans going to be wiped?

[xiireeceiix]

I have other loans from other companies, for example, Speedcredit who have now sold their loans, however are these loans liable to be wiped or not?

 

Sorry if this is the wrong area but since Wonga loans are being wiped

[dx100uk]

unless they operated the same practice I doubt it.

 

 

dx

[citizenB]

All we can say for sure is that the FCA have apparently invited other PDL companies to contact the FCA in order for them to look at the practices in place.

 

Capital Finance have done so.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?434313-Capital-Finance-on-the-FCA-radar-now

 

Whether or not the same decision will be made for CFA as for Wonga, it isn't quite clear.

[Guest]

I raised some concerns with the FCA after the Wonga ruling about some of the other firms and they said they welcomed concerns from consumers, and confirmed no company was exempt from their conduct requirements and they would take action as appropriate should there be any concerns regarding their conduct, although they couldn't comment on or confirm if any investigations into these companies were taking place. So I suggest if you believe other companies were doing the same as Wonga you contact the FCA.

 

I have read that after the new rules come into place in 3 months time, only 3 or 4 payday loan companies will survive out of the 300-400 atm. So maybe these other companies are not as forthcoming/cooperative as Wonga, knowing that they cant operate under the new rules so will be closing and selling their loans off soon anyway.