Do you want to find out in details what the Myjar Redress Email is about? Read this post for more details!
What is Myjar Redress Email
Myjar Redress Email are Emails sent by Myjar to inform their customers that Redress has started. Due to unforeseen delays the process commenced on the 20 May 2022 and is still underway. If you are eligible for redress you would have received an email from [email protected] – this is not a scam, please check your spam folder.
If you have not received an email by 5 June 2022, you are not due redress and should continue to make payments toward your loan. If You are a Myjar Customer and your email address has changed you can contact the Joint Administrators at [email protected] advising of your new email address and it would be updated.
MYJAR is a company that provides short-term loans of up to £2000, for 3, 6 and 12 months. They are a flexible direct lender with a simple application process. However it went into Adminstration and has stopped money lending.
Following the appointment of the Joint Administrators:
- All new lending activity has ceased; and
- Customers should continue to make repayments for all outstanding loans in the usual way. Please note, if you receive any requests to make payment to any other bank accounts, prior to making any payment, please inform the customer service team immediately on [email protected] or call 020 3006 2000.
The Joint Administrators will conduct an orderly wind down of the business and seek to recover the assets of the Company for the benefit of its creditors.
It is anticipated that the orderly wind down of the Company’s business may, if applicable, include a sale of the assets of the Company. The Joint Administrators will also commence work to identify all creditors of the Company in accordance with their statutory duties and obligations under the Insolvency Act 1986. Those customers with complaints (whether on grounds of affordability or other) should continue to approach the Company in administration. Any such claim will be treated as an unsecured creditor claim.
The Company remains regulated by the Financial Conduct Authority who will continue to supervise the Joint Administrators’ activities throughout the administration process.
For all enquiries please contact the customer services team on [email protected] or call 020 3006 2000 Please refer to the Myjar website for further updates.
www.myjar.com
The directors of Myjar Limited ( “Myjar / the Company”) filed their application for an Administration Order on 22 December 2020.
The Directors of MYJAR have made the decision to place the business into administration due to external factors that have placed financial pressure on the business and its ability to trade through these challenges.
Mindful of ensuring the business satisfies certain threshold conditions and the difficulties associated with raising additional funding in this economic environment, the directors of MYJAR have placed the Company into Administration.
Conclusion
Following extensive investigations into the historical lending practices of Myjar, the Joint Administrators’ have reached a conclusion based upon a set of criteria to be used in assessing whether a customer qualifies for Redress.
From this the Joint Administrators’ have developed an automated claims calculator. This determines whether loans received by Myjar customers are entitled to a claim for Redress and if so, how much the claim will be. It should be noted that claims are limited to a refund of interest and charges with additional statutory interest applied thereon and not the principal element of the actual loan.
The method used has been built upon the approach of the Financial Ombudsmen Service (FOS) when it reviews complaints relating to high-cost short-term loans. The rules we have put in place have been tested and verified against the FOS and Myjar complaint investigations.
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