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Greenlight Credit Ltd Trading as “Varooma”

Martin Charles Armstrong and Andrew Richard Bailey were appointed Joint Administrators (the “Administrators”) of Greenlight Credit Ltd trading as “Varooma” (the “Company”) on 3 May 2022 by the directors of the Company.

The Administrators continue to engage with the Financial Conduct Authority (“FCA”), as necessary. The FCA provided its consent to the administration of the Company pursuant to the Financial Services and Markets Act 2000.

This website will be used to provide creditors and customers with information and will be regularly updated when further information becomes available on the administration of the Company.

The Administrators have set up a dedicated email address and phone number for creditors and customers to contact the administration team.

If your question is not answered in the FAQs below, please contact the Varooma customer services team on 0330 440 0101 or on customerservice@varooma.com . If your query specifically relates to the administration, please contact varooma@turpinba.co.uk 

During early stages of the administration, the information available to the Administrators is limited and we therefore request that creditors and customers continue to consult the website and the below FAQs in the first instance. We will continue to update creditors and customers as additional information becomes available so please watch this webpage for updates.

The affairs, business and assets of the Company are being managed by the Administrators who act as agents of the Company and without personal liability.

The Administrators are licensed as insolvency practitioners in the United Kingdom by the Institute of Chartered Accountants In England and Wales.

FAQs


Loan Repayments

Do I still need to continue to make repayments to my loan?
Yes. The terms and conditions of all loans remain as agreed when the loan was taken out and payment remains due in the normal way. Your loan is with the Company which traded using the www.varooma.com website.

What will happen if I don’t repay my loan on time?
If you miss a payment your credit score could be affected and the other consequences set out in the terms and conditions governing your loan will continue to apply.

Can I take out a new loan or add additional funds to my existing loan?
The Company is unable to provide further lending.

I can’t afford to repay my loan. What should I do?

If you can’t repay your loan on time, please call the Varooma Customer Support team straight away on 0330 440 0101

or email
customerservice@varooma.com 

The following services are also available:
EntityWebsiteAbout
Citizens Advice
www.citizensadvice.org.uk
People can speak to advisors in person at a branch or on the phone
The Money Advice Servicewww.moneyadviceservice.org.uk
A government-backed  service  that can be contacted by telephone and has budget calculators
StepChange
www.stepchange.org
Debt charity that can provide free advice and a free debt management plan
National Debtlinewww.nationaldebtline.org
Offers free guidance and budget planners
Money Helperwww.moneyhelper.org.uk
Free money guidance from HM Government

How do I repay my loan?
You should continue to repay your loan in accordance with the timetable agreed when your loan was taken out. For more information on repayment arrangements, your Continuous Payment Authority and alternative payment methods, please contact the Customer Support Team. If your debit card details have changed, please provide the Customer Support Team with your updated card details before your next loan repayment date.

There will be no change to our bank details. If you receive any requests to make payment to an alternative account, please inform the Varooma Customer Support team straight away on 0330 440 0101 or email customerservice@varooma.com  
 
Never give personal or account details to anyone who contacts you unexpectedly. We will never ask for your bank details or your security details such as your password.

I need to update my contact details.
Please call the Varooma Customer Support team on 0330 440 0101 or email  customerservice@varooma.com
 
I need to talk to someone about my loan or I have a question which is not answered here
If your question is not covered in our FAQs, please contact the Varooma Customer Support on 0330 440 0101 or email customerservice@varooma.com 

The call centre will remain open as normal, but please be aware that we will be handling a high number of calls and your wait may be longer than usual.

If your question is still not answered, please email your query to varooma@turpinba.co.uk The Administrators’ team will also look at all queries emailed to this address. Please be aware that we are expecting a large volume of queries. You may therefore not receive an immediate response.

Administration

An Administration is an insolvency procedure regulated by the Insolvency Act 1986. The process functions as a mechanism to rescue insolvent companies and presents a chance to allow them to carry on running their business whilst a solution is sought. If that is not possible then the Administrators will seek to maximise recoveries from the assets of the company in order to achieve the best return for creditors of the company.

The Administration will last for an initial period of 12 months but may be extended if required in order to achieve the purpose of the administration.

Why has the company entered into administration?
The directors of the Company filed notice placing the Company into administration on 3 May 2022, due to the Company’s deteriorating financial position. The Administrators will investigate the reasons for the Company’s failure as part of their appointment. Any creditor or customer is welcome to provide us with information.

Who are the Administrators?
Martin Charles Armstrong and Andrew Richard Bailey of turpin barker armstrong were appointed as Administrators by the Company’s directors.  

The Administrators are qualified insolvency practitioners and act independently of the Company and the directors, for the benefit of all creditors. Their primary concern and mandate is to ensure that they maximise the returns to creditors.

Are the Administrators in contact with the FCA?
Yes. The Administrators are in regular contact with the FCA and, (pursuant to the Financial Services and Markets Act 2000), the FCA consented to Martin Charles Armstrong and Andrew Richard Bailey of turpin barker armstrong being appointed as Administrators of the company.

Does this administration also affect the company known as Varooma.com Limited?
The Administrators are aware of the company (registration 10007097) called “Varooma.com Limited”, That company is a dormant company with the same directors as Greenlight Credit Ltd - trading as Varooma (being the company which is now in administration).  Varooma.com Limited has no regulatory status with the FCA and is unaffected by this administration process.

How will my data be protected in this administration process?
As part of their role, the Administrators may need to access and use data relating to customers. In doing so, they will follow all applicable data protection requirements. Information about the way they will use and store personal data can be found at https://www.turpinbainsolvency.co.uk/privacy  It is important that you read the terms and conditions so that you are aware of how and why the Administrators will be using your data.

What can I do if my question has not been answered in this FAQ section?
If your question has not been answered in this FAQ section, please call the Varooma Customer Support team straight away on 0330 440 0101 or email customerservice@varooma.com

What should I do if I have information about the Company?
The Administrators would be pleased to receive from any person any useful information concerning the Company, which may assist them.

What’s the difference between debtors and creditors?
A debtor is someone who owes money to the Company, this includes the Company’s many customers who took out loans from the Company.
A creditor is owed money by the Company.

Complaints

General complaints procedure
If you have a complaint, please initially discuss it with the Customer Service Team on 0330 440 0101.  If you are not satisfied with the outcome of that call, please email complaints@varooma.com .  If you remain unsatisfied, please bring your complaint to the attention of the Administrators by emailing varooma@turpinba.co.uk 
 
What should I do if I have made a complaint which has not yet been resolved?
Existing complaints sent to the Customer Service Team will continue to be processed and you should expect a prompt response.  If you remain unsatisfied, please bring your complaint to the attention of the Administrators by emailing varooma@turpinba.co.uk . We would recommend you continue to pay your loan repayments whilst your complaint is being dealt with.
 
Am I eligible to make a claim?
If you believe that you were provided with unaffordable loan(s) or otherwise believe you are owed money by the Company, you may have an eligible claim.

What is an “unaffordable loan?”
The unaffordability of a loan will be assessed by the Administrators, looking at criteria of the loan at the time it was taken out by the customer and assessing this against the relevant rules set out by the FCA. For more information, there are some helpful guidance notes from the Financial Ombudsman Service at https://www.financial-ombudsman.org.uk/publications/technical_notes/payday-lending.html

How do I make a complaint?
If you believe you are eligible to claim (whether due to unaffordability or otherwise), you can make a claim through the Customer Support Team at customerservice@varooma.com  or via phone to 0330 440 0101

Do I need to use a Claims Management Company to make my claim?
No. You can make a claim directly to the Company. A Claims Management Company can also help you submit a claim. It is up to you if you want to use one. If you decide to use a Claims Management Company, please make sure you understand the scope of their services and how much it will cost you before agreeing to its service.

If I have a claim (including unaffordability claims), when will I be paid?
The Administrators will assess all claims during the course of the administration. No payments will be made until all of the assets have been sold or realised. Currently, we do not have a date for the payment of any claims, and we do not know what amount of funds will be available to creditors.

If your claim is agreed by the Administrators, you will be an unsecured creditor of the Company.  This means you will be entitled to participate in any distribution of the cash remaining in the Company only once all assets have been sold or realised, the secured creditors have been paid and the costs of the administration have been met.

Please be aware that, if your claim is admitted by the Administrators, the payment you receive is likely to be considerably smaller than your accepted claim amount. This is because it is expected that the total value of all accepted claims received will exceed the money available to be shared out amongst the unsecured creditors.

Will the Financial Services Compensation Scheme (“FSCS”) pay my claim if Greenlight Credit Ltd does not?
No, the FSCS do not cover claims under consumer credit agreements.

I have previously submitted an unaffordability claim to the Financial Ombudsman Service (FOS) which has not been finalised nor agreed. What will happen to my claim?
Any unaffordability claims which were being handled by the FOS will now be handed back to the Administrators who will assess it in due course. Should your claim be upheld, you will be considered an unsecured creditor for the value of the assessment claim. However, the timing and amount of the final creditor claim is currently unknown and will not be known for some time.

If I have previously received a redress payment from the Company, can I claim again?
You cannot claim redress twice for the same loan. If you previously received a redress payment from the Company, then you will not be entitled to a further claim or payment in respect of that same loan.

What should I do if I am approached by someone saying they work for the Company or the Administrators and want to help me submit a claim?
Do not give your details to anyone who approaches you, alleging that they work for the Company or the Administrators. If you do require assistance or are unsure as to the validity of any correspondence you have received, please contact the Varooma Customer Support Team on 0330 440 0101.

What should I do if someone has indicated they can ensure I can get a higher claim amount, but I have to pay them a fee first?
The Administrators are under a duty to treat each claim equally. Every claim will therefore be assessed in the same way, irrespective of who submits the claim. As mentioned previously, customers do not need to use a Claims Management Company or third party to submit a claim. Using a Claims Management Company or third party will not accelerate the claims process, nor entitle you to a higher claim amount. If you decide to use a Claims Management Company, please make sure you understand the scope of their services and how much it will cost you before agreeing to its service.

Will anyone ask for my bank details?
No. We will never ask for your account details or security details by phone or email. Should you need to update your bank account or card details, you should contact the Varooma Customer Support team on 0330 440 0101.

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