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Indigo Michael Limited (trading as Tappily/Safetynet Credit) in Administration

On 9th January 2023 Joe O’Connor, Clare Kennedy and Simon Appell of AlixPartners were appointed Joint Administrators of the Company.

The affairs, business and property of the Company are being managed by the Joint Administrators who act as agents of the Company and without personal liability.

The Joint Administrators are authorised to act as insolvency practitioners by the Insolvency Practitioners Association

This website will be used to provide customers with information and will be updated when further information becomes available.

Below are some frequently asked questions (“FAQ”) which are intended to answer questions which customers may have in relation to the Company’s Administration.

In the event you have a question which is not answered here, please contact us by email at: help@imladmin.co.uk. Please note that with effect from 4 August 2023, our phone lines and live chat function will no longer be available.

If your query relates to the Administration as opposed to your account with Tappily/Safetynet Credit, then please email IML@AlixPartners.com.

Customer - FAQ


What has happened?

On 9th January 2023 Joseph O’Connor, Simon Appell and Clare Kennedy of AlixPartners were appointed Joint Administrators of the Company.

What is an Administration?

An Administration is a procedure available to companies that are insolvent.

It gives the Company protection from its creditors and allows the Joint Administrators to assess the options for the business.

Whilst the Company is in Administration, the affairs, business and property of the Company are managed by the Joint Administrators.

The Joint Administrators act as agents of the Company in Administration and without personal liability.

Why has this happened?

As you may be aware, the business has been operating in a challenging trading environment, which became progressively more difficult due to factors that reduced lending volumes, as well as changes within the regulatory environment in which the Company operates.

As a result, the financial performance of the Company has deteriorated and been considerably below forecast profitability. The business was not in a position to continue to meet all its debts as they fell due and was likely to become balance sheet insolvent and fall below required regulatory capital obligations.

Steps were therefore taken to protect the assets of the Company by placing it into Administration.

What will happen next?

The Joint Administrators have worked with the Company to stabilise its operations. As part of this process, and to ensure that any impact on customers is minimised, the Joint Administrators enabled the Company to continue to provide lending facilities to some existing customers in accordance with the Company’s current lending practices for a defined period of time.

This period has now ended - please see the following section for further details

Are the Joint Administrators in contact with the FCA?

The Joint Administrators are in regular contact with the FCA to ensure all regulatory matters are attended to and the FCA has consented to the Joint Administrators’ appointment.

The Company remains authorised and regulated by the FCA.

Outstanding balances

What happens in respect of my outstanding balance?

The Administration does not change the payment terms and conditions of your account, which remain as agreed when the account was opened.

Contractual minimum repayments will continue to be due under your existing terms and conditions and you should continue to repay your balance in accordance with the agreement signed when your account was opened.

If you do not keep up with your contractual minimum repayments, your credit score could be affected which may impact your ability to obtain credit in the future. The other consequences set out in the terms and conditions governing your account will also continue to apply.

The Company remains subject to the same regulatory rules and requirements as it did prior to the Administration.

Will I still be able to access my account during the Administration?

Yes. You should still be able to access your account dashboard and will be able to continue borrowing if you meet the appropriate criteria explained below.

Can I obtain further funds?

On the Administrators' appointment, certain active customers were given continued access to their existing facilities for a period of time. Credit limits were reduced on a monthly basis during this period, with notifications sent to those customer affected.

Lending has now ceased with effect from 31 May 2023 for all customers.

Why don’t I get a monthly statement anymore?

Section 7 of CCA 2006 requires creditors to issue statements to debtors setting out specified information in respect of running account credit agreements at intervals of not more than 12 months. The Indigo Michael Ltd loan facilities trading as SafetyNet and Tappily are closed and lending limits were decreased to £0 and no further interest will be charged. There is no requirement to issue monthly statements.

We are still reporting to the credit bureaux and in order to stay out of arrears (or prevent worsening of existing arrears) a payment of £20 must be received by the end of each calendar month unless otherwise arranged (e.g. by a payment plan).

Financial Support

My circumstances have changed and I am not able to make an upcoming payment.

If you are in financial difficulty and/or are struggling to make your contractual minimum repayments, please contact one of our customer service representatives who can look into options that might help, as follows:


By email at: help@imladmin.co.uk

Where can I go for advice on my finances?

You can check on the government website for any benefits and financial support available to you, as follows: https://www.gov.uk/check-benefits-financial-support

The following advice services are also available:

Services Contact Details Services offered
Citizens Advice www.citizensadvice.org.uk
Tel: 0800 240 4420
Debt and consumer advice service with specialist caseworkers to deal with any type of debt, including repossessions and negotiation with creditors.
Money Helper www.moneyhelper.org.uk
Tel: 0800 011 3797
Free and impartial help with money, backed by the government.
National Debtline www.nationaldebtline.org
Tel: 0808 808 4000
Free and independent advice and resources to help people deal with their debts.
StepChange www.stepchange.org
Tel: 0800 138 1111
Debt charity that can provide expert debt advice and fee-free debt management to help you tackle your debts.


What happens if I submitted a complaint against the Company prior to the Joint Administrators’ appointment?

The Company has received a number of complaints (from a minority of customers), some of which are still in the process of being reviewed. Once these claims are assessed we will contact customers to advise of the outcome via a final response and explain what that means for them.

Can I still submit a complaint against the Company?

If you believe you have grounds for a complaint against the Company you may be entitled to make a claim. You can submit a claim to the Company using the contact details shown above. Claims submitted will continue to be assessed on their merits in accordance with the Company’s existing policies and procedures.

Will I be paid if I have an unsecured claim against the Company?

Unsecured claims are paid after the costs of the administration, amounts owing to secured creditors and certain other statutory amounts.

The Joint Administrators believe that a dividend will be available to unsecured creditors in this case. The funds available will be distributed equally between all unsecured creditors in proportion to the amounts owed to each of them.

How much can I expect to receive in respect of my unsecured claim?

Due to the level of claims against the Company, the dividend is expected to be relatively small (a few pence for every pound owed) and creditors will not receive the full amount due to them. For example, if a dividend of 5 pence in the pound is available, a creditor who is owed £100 can expect to receive a dividend of £5.

As the funds will need to be distributed between all unsecured creditors at the same time, the Joint Administrators will need to give all potential creditors the opportunity to submit a claim against the Company and these will all need to be reviewed and adjudicated before payments can be made to any creditors.

When can I expect to receive the dividend?

Due to the volume of claims and the fact that complaints continue to be received, it will be a number of months before a dividend is paid. Creditors will be notified when the Joint Administrators are in a position to make the distribution.

What do I need to do to submit a claim and receive updates?

Where a complaint is upheld and a final response has been issued showing an amount due that would otherwise have resulted in a cash settlement, customers are being provided with details of how to submit details of their unsecured claims for the amount they would have received. Once a claim has been submitted, creditors do not need to take any further action and will automatically be registered for any updates that are issued.

Will the Financial Services Compensation Scheme (FSCS) pay my claim if the Company does not?

No. The FSCS do not cover claims under consumer credit agreements.

I have previously submitted an unaffordability claim to the Financial Ombudsman Service (FOS) which has not been finalised nor agreed. What will happen to my claim?

Any claims which were being handled by the FOS have now been handed back to the Joint Administrators who will assess them in due course. You do not need to resubmit your claim. Once these claims are assessed we will contact customers to advise of the outcome via a final response and explain what that means for them.

Can I still submit a claim to the FOS?

The FOS has advised that it will stop considering any complaints against the Company as a result of the Administration.

Where claims have already been assessed by the Company and a final response issued prior to being referred to the FOS, the previous assessment remains in place and these complaints will not be reviewed any further.

For all other complaints, these will be assessed on their merits in accordance with the Company's existing policies and procedures and customers then will be contacted to advise them of the outcome.

What if I am approached by a third party to submit a complaint on my behalf?

You don’t need to use a claims management company (CMC). Using a CMC or other third party will not speed up the complaint process and may expose you to their charges. There is unlikely to be any funds to pay any CMC or third parties’ charges and so you may want to take advice before instructing a CMC or third party.

Fraud Alert

Fraudsters can take advantage of customers when a company goes into Administration, and therefore you should remain alert to the possibility of fraud and potential scams:

  • No changes will be made to the bank details which customers make payments into. If you receive any requests to make payment to an alternative account, please notify us immediately using the contact details above.
  • Do not give personal or account details to anyone who contacts you unexpectedly. The Company will never request any bank account security details.
  • Please be wary of any unexpected calls from someone claiming to be from the Company, the Joint Administrators or the Financial Conduct Authority (FCA), and end the call straight away if you are not sure.

More information can be found on the FCA website at: www.fca.org.uk/consumers/protect-yourself-scams

Privacy Notice

How will the Joint Administrators process my personal data?

As part of their role, the Joint Administrators may need to access and use data relating to customers. In doing so, they will follow all applicable data protection requirements. Further information in relation to the processing of personal data by the Joint Administrators can be found here.

Important Information

What you need to know about Tappily/Safetynet Credit

By borrowing from Tappily/Safetynet Credit you are taking on a financial commitment. Failure to make payments or missed payments could have a negative impact on your credit history and adversely affect your ability to gain credit (including mortgages).

All applications and future borrowing subject to status and affordability assessment. Further terms and conditions apply.

Tappily’s/Safetynet Credit service requires read-only access to your internet banking to be considered for a facility. If you are given a facility we review your balance and transactions on a daily basis and monitor any changes in your financial status.

For free independent money advice, see moneyadviceservice.org.uk