Administration is when a company becomes insolvent and closes its doors in order to rectify its debts. In the case of a short term loan provider, this means it will no longer lend and administrators will come into the business to share out any assets to those it owes money to.
Yes, even though 247Moneybox has gone into administration, customers must continue to repay their loans. This ensures their credit rating is not affected and that they are not hit with a fee for late payment.
You can still get in touch with the company’s customer service team on 0207 183 8078 or by email on email@example.com.
247Moneybox provided payday loans that had to be repaid within a short time frame, usually a month or less. These types of loans should only be applied for if you are confident that you will have the funds to repay your loan, plus interest, by your next payday.
Paying a loan back in full, with interest, just one month after taking it out can be a lot to manage. This is why Sunny offers short-term loans that are paid back in instalments over an agreed period of time.
This allows you to borrow money for an emergency and repay it in a way that fits more easily into your budget, without having to cut back on or go without other essentials. Depending on what you borrow, we offer payment periods of six to 14 months, and if you’re able to repay early, then you can do so easily through your online account and save money on interest.
Before 247MoneyBox went into administration, the highest amount that new customers could borrow was £200, while the smallest loan they offered was £80.
At Sunny, on the other hand, our loans are designed to help you cover the cost of a wide range of emergencies you may encounter. With us, new customers are able to borrow between £100 and £2,500.
Representative 1267% APR