Dina Devalia and Frank Wessely of Quantuma Advisory Limited were appointed as Joint Administrators of Vacation Finance Limited (VFL) on 20 November 2024. VFL has ceased trading with immediate effect.
Vacation Finance Limited (“VFL”) FRN 721584.
Address: 57 Wheelock Street, Middlewich, Cheshire CW10 9AB.
Vacation Finance Limited (VFL) – what has happened to it?
On 20 November 2024 Vacation Finance Limited was placed into Administration and has now stopped trading. Dina Devalia & Frank Wessely of Quantuma Advisory Limited (“Quantuma”) are the appointed Joint Administrators.
Between April 2016 to April 2020 VFL sold consumer loans brokered by Azure Services Limited connected to the sale of timeshare products based in Malta. VFL withdrew its credit broking and lending permissions in January 2022 but has maintained permission to administer existing loans and is in the process of winding down the existing loan book. As at the date of Administration, VFL currently has approximately 102 remaining loans.
The Joint Administrators will contact all current loan customers by post with documents about the Administration for your information only, you do not need to do anything.
We have created a dedicated contact email address and mobile number for consumers to easily reach to speak to a member of the Joint Administrators’ team. For further information kindly email vacation.finance@quantuma.com or alternatively call 075 9922 5922.
Details can also be found on the FCA website.
Frequently Asked Questions
I have a loan outstanding with VFL – will I have to repay it?
Do not cancel any repayments as your loan agreement remains in place and you must make your repayments as originally contracted.
Future loan repayments will be managed by the Joint Administrators, Dina Devalia and Frank Wessely of Quantuma Advisory Limited, who will write to you shortly.
The Joint Administrators have created a dedicated contact email address and mobile number for consumers to easily reach to speak to a member of the Joint Administrators’ team. For further information about your loan, kindly email vacation.finance@quantuma.com or alternatively call 075 9922 5922.
I have an existing complaint with VFL – what happens now?
If you have made a successful complaint against VFL and are due compensation, you may have a claim in the Administration.
However, there will not be enough money in the administration to pay compensation in full to clients where it is due. The amount of compensation which may be paid in due course is very uncertain at this stage.
You should first contact the Joint Administrators to find out how complaints or claims will be dealt with.
Legacy or Historical VFL loan customers
If I believe I have a complaint to make, how do I submit a claim?
Kindly contact the Administrators’ team providing full details/documentation of your claim in the first instance by e-mail vacation.finance@quantuma.com or call on 075 9922 5922 or alternatively write to The Joint Administrators at Quantuma Advisory Limited, 15 Forlease Road, Maidenhead, SL6 1RX, United Kingdom.
Please note that the Joint Administrators have created the above dedicated contact email address and mobile number for consumers to easily reach to speak to a member of the Joint Administrators’ team.
What is the Financial Services Compensation Scheme and will they cover my loss?
The Financial Services Compensation Scheme (FSCS) doesn't apply to claims made in connection with consumer credit activities other than certain debt management business. The FSCS is unlikely to be able to consider a claim against this firm.
Do I need to use a claims management company?
A claims management company (CMC) may approach you offering to help you bring a claim. You should proceed with caution if you are approached by a CMC.
For most clients, there is no benefit in involving a third party in reclaiming your assets.
If you use a CMC to help the CMC is likely to seek a fee which may reduce what you get back.
Is the FCA overseeing the Administration?
VFL is still authorised by the FCA and remains subject to supervisory oversight and the FCA’s rules.
The Joint Administrators are officers of the court and need to comply with all insolvency law. The individuals appointed are authorised to act as licensed insolvency practitioners by the ICAEW (The Institute of Chartered Accountants in England & Wales).
Being alert to scams
All customers should remain alert to the possibility of fraud. If you are cold called by someone claiming to be from VFL, Quantuma Advisory Limited, or the FCA, please end the call and call them back using the number above. The Joint Administrators will not be contacting customers directly by telephone.
More information about this can be found on the FCA website at https://www.fca.org.uk/consumers/protect-yourself-scams.
How will I be able to find out what is happening?
We have created a dedicated contact email address and mobile number for consumers to easily reach to speak to a member of the Joint Administrators’ team. For further information kindly email vacation.finance@quantuma.com or alternatively call 075 9922 5922.
The Joint Administrators are Data Controllers and a privacy policy statement as required by the General Data Protection Regulation is available at: http://www.quantuma.com/legal-notices. Should you wish to be supplied with a hard copy, free of charge, please contact the Administrators’ team by e-mail vacation.finance@quantuma.com or call on 075 9922 5922.
