My MiniCredit Loan Has Been Passed to Opos Limited. Who Is This?

Q: My MiniCredit loan has been passed to Opos Limited. Who is this? ~ Gaz, London.

Opos Limited is a debt collection agency based in Dumbarton, Scotland. They have been active since the year 2008 and so are one of the newer DCAs on the scene. From researching this agency, a diverse range of markets are taken on by them including financial, telecoms, utilities and even commercial. Despite this, the only creditor affiliated with them is the company as queried (MiniCredit). Any correspondence relating to your account would have likely been put through Kapama that is a separate division within the group. What has happened is that Kapama/Opos Limited have purchased the loan book of MiniCredit that occurred when the payday lender closed down for business.

This closure took place in December 2014 and there was an announcement on their website soon after this happened. The reasoning behind the lender’s closure was not shared, but we are pretty confident it was due to them being unable to continue trading through the new FCA capping regulations that went through in early January 2015. Whilst this was one of the most well known short term firms around who offered an impressive product, it was clear that pricing was a major drawback. As well as their 1.3% daily interest charge there was a forced fast transfer fee to pay at £19.50. Similar companies charged between £0 and £6 for a Faster Payment.

As from January 2015, a 0.8% daily rate has had to be adhered to. Many firms have closed down as a result, but perhaps non quite as big as this one in focus (more information can be viewed in the referenced posting above). The next step forward would be to visit and organise a payment plan or securely pay them there. To query the balance first you can get hold of their advisors on the line of 0141 428 3990. On what days and times their customer support team can be reached is not disclosed. There should be less of a push on collections, assuming that the original accounts were managed well.