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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?

Collections for outstanding SafetyNet and Tappily loans have now ceased with effect from 9 April 2024. For any customers who still had an outstanding balance at this point, this will be marked as partially settled on their credit file to reflect that the loan was not fully repaid.

For more information on what this means and how credit files work please visit ico.org.uk/for-the-public/credit.

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

Customers will no longer be able to access their dashboard from 9 April 2024.

Can I obtain further funds?

No. Lending ceased with effect from 31 May 2023 for all customers

Financial Support

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?

All complaints submitted prior to the Administrators’ appointment have now been reviewed and assessed and customers have been contacted to advise of the outcome via a final response and what that means for them.

Can I still submit a complaint against the Company?

No new complaints will be accepted with effect from 15 April 2024. Complaints submitted prior to this date will be assessed and customers advised of the outcome as usual.

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.

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.

The Administrators currently estimate that the dividend rate for unsecured creditors of the Company will be approximately 4 pence in the pound. Therefore, a claim of £1,000 would receive a dividend of approximately £40.

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?

The Administrators have issued notice of their intention to declare a first and final dividend to unsecured creditors. The deadline for creditors to submit claims is 28 May 2024. The distribution will be made as soon as possible after this date, and no later than two months after.

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 were handed back to the Joint Administrators following their appointment, who assessed them if they had not already been subject to review. Any customers affected were then advised of the outcome via a final response and what that means for them.

Can I still submit a claim to the FOS?

The FOS is no longer 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

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.