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Claim your Satsuma payday loan refund

This lender is currently in a ‘scheme of arrangement’ which means they are no longer lending to new customers and are preparing to settle all unaffordable lending cases in one go. 

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Who are Satsuma Loans?

Satsuma Loans are owned by Provident Personal Credit and part of the Provident Financial Group who’ve been operating for over 100 years. Back in 2015 they had processed £5 million worth of loans and had sponsorship deals with RFU Championship side Yorkshire Carnegie and Sunderland AFC. Despite a strong public appearance their Trustpilot reviews are currently extremely poor at 1.6 stars based on 230 reviews. Unlike other lenders, Satsuma only offers small loans up to £1,000 for first time borrowers and £2,000 on the second loan.

What’s the current situation?

A legal process called a ‘scheme of arrangement’ was implemented on 27th August 2021 and since May 2021 they have stopped lending to new customers.

A scheme of arrangement (or a “scheme of reconstruction”) is a court-approved agreement between a company and its shareholders or creditors (e.g. lenders or debenture holders). It may affect mergers and amalgamations and may alter shareholder or creditor rights Wikipedia

What is the deadline?

Provident Financial Group who own Satsuma and also MoneyBarn suspended doorstep lending and collection in March 2020. It also withdrew its financial forecast and did not recommend a dividend to its shareholders in July the same year. Following recent events, the company stopped lending in May 2021 and announced the deadline for submitting a claim against them is 28th February 2022.

Key stats

Success Rate
Unfortunately we’re not submitting claims against this lender.

Average Payout
If your claim is upheld, the Provident scheme will contact you with how much you are due.

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You may still have a claim

We cannot claim against this lender because they are in a ‘scheme of arrangement’. However, that doesn’t mean you may not have another claim against another lender. Our software checks multiple lenders in just 5 minutes, so why not check now?

You do not need to use a claims management company to make your complaint to your lender. If your complaint is not successful you can refer it to the Financial Ombudsman Service for free. Claims Bible does not charge you for our service, we may be paid a fee by the final supplier for any introductions. This will not impact on any costs incurred by you.