Wage Day Advance – Lender Background and Loan Comparison
This page provides a factual overview of the Wage Day Advance brand, including the lender’s history, current operations and how its loan offering compares with cashasap.co.uk (an alternative option for short-term credit). We’ll explore what happened to the original business and look at how the brand operates today under new ownership.
Wage Day Advance – The Company History
Wage Day Advance was initially founded by northern based, Dale Chapman in 2001 until he sold the business to US-based Speedy Cash Corp in 2013 – a trading name of Curo Transatlantic Limited (CTL), a high-cost short-term credit provider operating in the UK. The company also traded under the name Juo Loans. It offered payday and short-term loans to UK consumers and was active in the market for several years.
On 25 February 2019, Curo Transatlantic Limited entered administration. The Financial Conduct Authority (FCA) confirmed that the firm had ceased lending, and administrators from KPMG were appointed to manage the process.
Why Did Wage Day Advance Enter into Administration?
It was widely reported that the administration of Curo Transatlantic Limited followed a significant rise in customer complaints relating to unaffordable lending and the cost of credit. This pattern mirrored the collapse of other high-cost lenders in the UK, including Wonga.
At the time, former customers were invited to submit claims for compensation for loans that may have been mis-sold and unaffordable to them. Consumer finance websites and national media reported on the redress process, although the deadline for submitting claims has now passed.
During the administration, customer enquiries were handled by the appointed administrators at KPMG with contact directed to customerservice.curo@kpmg.co.uk
What Happened to Existing Wage Day Advance Loans?
As part of the administration process, a portion of Wage Day Advance’s loan book was sold. Around 50,000 customer accounts were transferred to Shelby Finance Ltd, a regulated lender trading as Dot Dot Loans and a subsidiary of Morses Club PLC at the time.
Customers whose loans were transferred were informed of the change and continued to repay under the new lender’s management. However, in November 2023, administrators were also appointed to Shelby Finance Ltd and Morses Club Limited, bringing further changes for affected customers.
Is Wage Day Advance Operating Today?
The Wage Day Advance brand name is now operating again, but under entirely different ownership and structure.
Since 6th January 2021, the Wage Day Advance website domain and business operations have been owned by Chojin Ltd. Chojin Limited operates under 7 trading names including other short-term lending brands such as, Uncle Buck and Pounds to Pocket.
The current Wage Day Advance business is not a direct lender. Instead, it operates as a loan broker, introducing applicants to third-party lenders only. This means that customers applying through the current Wage Day Advance website will be matched with a third party lender, rather than borrowing directly from Wage Day Advance itself.
Considering an Alternative to Wage Day Advance
When comparing loan options, some borrowers prefer to deal directly with the lender rather than through a broker. Applying directly can make it clearer who is responsible for lending decisions, repayments and customer support.
cashasap.co.uk is an alternative short term loan option for eligible UK residents who wish to deal with a direct lender.
Wage Day Advance vs cashasap.co.uk – Key Comparison
| Feature | Wage Day Advance (Current) | cashasap.co.uk |
|---|---|---|
| FCA Authorised | Yes (as a broker) | Yes (as a direct lender) |
| Direct Lender | No | Yes |
| Role | Loan broker | Short-term loan direct lender |
| Application | Online | Online |
| Decision Process | Passed to third-party lenders | Assessed directly |
| Funding | Provided by matched lender | Same day if approved |
| Lending History | Relaunched under new ownership in 2021 | Actively lending since 2013 |
All loans are subject to status and affordability checks.
Why you should choose us
Important: Borrow responsibly. Short-term loans are not suitable for ongoing financial difficulties or long-term borrowing.
cashasap.co.uk Loan Application Minimum Criteria
To apply for a same day loan from cashasap.co.uk, you must:
- Be aged 18 or over
- Be a UK resident
- Have a UK bank account with a linked debit card
- Be employed full-time or part-time
- Be sure you can afford the repayments for the whole loan term
Applications are completed online and assessed individually. If approved, funds are transferred to your UK bank account the same day.
Borrowing Responsibly
When comparing Wage Day Advance loans with other options, it is important to focus on your affordability for a loan rather than speed of funds clearing in your account. Short-term loans are designed for temporary needs and are not suitable for ongoing financial difficulties.
Before applying, always:
- Consider the minimum amount you need and only apply for what you need
- Review the total cost of borrowing across the whole term
- Make sure repayments fit within your budget
- Seek free, independent advice if you are struggling financially
Free support is available from government backed organisations such as MoneyHelper.
Summary
- Wage Day Advance previously traded as a brand owned by Curo Transatlantic Limited
- The company entered administration in February 2019 following a high volume of affordability complaints
- Parts of the loan book were sold to Shelby Finance Ltd, which later entered administration in 2023
- Wage Day Advance now operates again under new ownership with Chojin Ltd, as a loan broker
- cashasap.co.uk provides a direct lending alternative for eligible UK borrowers
