Another Pay Day Lender Collapses


The Financial Conduct Authority (FCA) has confirmed that Active Securities trading as 247 Moneybox, have been placed into administration.

Active Securities a high-cost short term lender (payday lender). In a statement that appears on the website, the company said that all existing loan agreements remain in place and will not be affected by the proposed administration. However, the company is no longer able to issue new loans.

DJS trading as Piggy Bank has alos entered administration. The company provided high-cost short term (payday) lending services to the UK consumer market. The company is thought to have had around 45,000 customers and was seen as one of the UK’s top 10 largest payday lenders. PiggyBank was forced to stop trading in July after the Financial Conduct Authority (FCA) raised concerns about poor affordability checks.

CashEuroNet, collapsed in October, taking its brands QuickQuid and On Stride off the market.