High-cost short-term lender Cash On Go enters administration
Administrators from Smith & Williamson have been appointed to high-cost short-term lender Cash On Go, which trades as Peachy.co.uk and Uploan.co.uk.
Adam Stephens, Gilbert Lemon and Henry Shinners will act as joint administrators to the firm, which has ceased lending. The firm specialised in loans until the next payday or up to 12 months. It claimed it had around two million customers.
In a statement posted on Cash On Go’s website, it said the administrators are working with the company to “facilitate an orderly wind down of the business and start the process of identifying all creditors, in accordance with their statutory obligations”.
The FCA said it is in close contact with the firm and the administrator over the fair treatment of customers.
All existing loan agreements remain in place and will not be affected by the administration.
Please login to continue reading this article.
Not a member?
Become a member
FREE registration. No credit card required
Register now- Stay up-to-date with industry news and appointments
- Hear about events first
- Read 1 free Premium article per month
Become a premium member
From as little as £3.48 per week
Become Premium- All the perks of a standard member plus:
- Access to the entire Credit Strategy website
- 12 months subscription to Credit Strategy Magazine
- 25% discount to all conferences
- Exclusive access to Premium Member only roundtables
- 50% off award entry fees
LATEST INDUSTRY NEWS STRAIGHT TO YOUR INBOX
READ NEXT
Government to extend eviction protections
Moon Beever and Wedlake Bell to merge
BDO suit against former Rangers’ administrators: What we’ve learnt?
Member of
