Toothfairy Finance Loans Info (Closed)
Between £100 and £400 could be applied for by all users. If you chose their smallest weekly term then for a £100 you would pay £9 and there was no same day funding fee. The value worked well over this shortest term since there was fee to add on, but if you went with 28 days then the mounted £36 charge didn’t compare so well. They were open 7 days a week and users could fully service their loan received though www.toothfairyfinance.com. They also offered SMS capability and so their service was overall crafted to a notable standard. Web Loans Processing had previously operated under the name of CIM Technologies Ltd.
They had been ticked off by the OFT for using unapproved trading names and they were also penalised for their approach to debt collection. Their in-house firms included Marshall Hoares Bailiffs and Northern Debt Recoveries. This company appeared to be doing well, but the cracks did show from September 2013 onwards with money being owed out to investors. They would later receive an Administration Order in early December and they announced that DHR Capital Ltd had taken over their assets. On the High Court note there were 16 brands listed that perished. NextCredit did however survive and another company (Credit on Demand) is affiliated. Each of these now sit on their own approved licence.