BORROWERS who're owed cash from payday lenders Wonga, WageDayAdvance and Juo Loans only have months left to submit compensation claims.
Emails seen by The Sun happen to be sent to customers eligible for a payout alerting them that the deadline has been set by administrators for all new claims.
All three firms went bust after can not process thousands and thousands of compensation claims from borrowers who accused them of irresponsibly lending, leaving vulnerable Brits forking out for sky-high interest rates.
Wonga stopped lending in August 2023 and today administrators say customers are in possession of until midnight on September 30 2023 to apply for a payout.
Borrowers of WageDayAdvance and Juo Loans – that are both owned by exactly the same parent company, Curo Transatlantic Limited (CTL) – happen to be told they have until midnight on August 31 to claim.
Customers who've already requested money from both lenders don't need to do anything his or her claim is going to be unaffected.
The emails have been sent to customers the firm believes might be eligible for a redress in relation to one or more loans removed in the past.
Following court hearings, both administrators have been given permission to set deadlines in order to share out the remaining funds fairly among claimants.
Wonga administrators hope payments will be made within 4 months of submitting the claim, having a final possible payout date of January 30 2023.
WageDayAdvance and Juo Loans went into administration in February this year and customers have been told to anticipate payouts by May 30 2023.
But compensation isn't guaranteed because you'll be included to a list of creditors owed cash from the firms once you've applied.
The email from Wonga warns that successful claimants will receive payments that are "considerably smaller" than they're expecting.
This is because the total amount of the claims is anticipated to be larger than the remaining pot of money to be shared out.
The payouts is only going to continue as long as there's enough money left.
So far, Wonga customers have typically received payouts which is between lb500 and lb1,000 even though some could be eligible for more.
It's not clear just how much WageDayAdvance claimants have received.
Sara Williams, a debt advisor at charity Citizens Advice who runs the DebtCamel blog, aims to boost awareness about compensation claims because it's "so easy to do".
She said: "For Wonga you just have to provide your name and address therefore it can identify your loans.
"If you have had an e-mail from WageDayAdvance it's even easier, you only have to click a button to submit claims that has already been completed.
"Should you have had loans from other payday lenders that you could only repay by borrowing again, you can also complain.
"You don't have to know what all of your loans were which works for those who have loans at the moment."
Earlier this season, a group of MPs warned that borrowers have been "left to fend for themselves" and called around the Government to intervene.
The Treasury Committee feared that over 10,000 Wonga customers will lose out on up to lb1,000 compensation for mis-sold pay day loans.
A spokesperson for Joint Administrators KMPG with respect to CTL told The Sun: "We expect funds will be available to make payments to customers having a valid redress claim.
"However at this time we're unable to confirm the quantity of any such payments, albeit these will be for only a proportion of redress owed."
Wonga administrator Grant Thornton says that it's in the process of alerting people to the deadline set in order to meet the firm's redress claims deadline of January 30 2023.
It also directed people to its online for free checker tool to assist using the claims process.
More than 50,000 CTL customers, including all Juo borrowers, happen to be sold to Shelby Finance, which is of Morses Club.
Even though these customers happen to be told to carry on paying as normal, they may also be entitled to claim.