Greenlight Credit Limited (trading as Varooma) enters administration

On 3 May 2022, Greenlight Credit Limited, trading as Varooma, went into administration. Martin Charles Armstrong and Andrew Richard Bailey of Turpin Barker Armstrong were appointed as Joint Administrators. 

Greenlight Credit Limited, trading as Varooma, is a high-cost lender which provides customers with logbook loans secured on the customer’s vehicle. With Logbook lending, the lender owns the vehicle until the loan is paid back in full.

All existing customer agreements remain in place and are subject to existing contractual Terms and Conditions (T&C’s). They are not affected by the administration. This means customers can continue to make repayments as usual. However, the firm is no longer able to issue or broker any new loans.

The joint administrators will update customers as soon as possible. 

If you have any questions in the meantime about your loan, please contact: 

Varooma: 

Customer Support Team: 0330 440 0101 for both payment related queries and non-payment related matters. 

Email: [email protected]

Webpage: https://www.varooma.com/contact/ 

Administrator:

Customer Support Team: 020 8661 4008 

Dedicated Email: [email protected]

Webpage: www.turpinbainsolvency.co.uk/varooma

We are in regular contact with the firm and the Administrators regarding the fair treatment of customers.

Customers who are struggling financially can get free and impartial guidance from MoneyHelper.  

What should customers do now? What will happen to the vehicle?

Existing agreements remain in place and are subject to existing contractual Terms and Conditions (T&C’s). They are not affected by the administration. This means customers can continue to make repayments as usual. However, the firm is no longer able to issue or broker any new loans. The joint administrators will update customers as soon as possible, including about what happens next and the situation with the vehicle.  

How do I make payments?  

There are no changes to how payments are made. All existing loan agreements remain in place and subject to existing T&C’s.  

I can’t afford to make my loan repayments. What should I do? 

You should contact the firm as soon as possible to discuss your situation. You can contact Varooma’s Customer Support Team by telephone on 0330 440 0101 or email at [email protected]. Greenlight Credit Limited, trading as Varooma, continues to be authorised and regulated by the FCA and is required to treat its customers fairly and offer forbearance when appropriate. Customers who are struggling financially can also get free and impartial guidance from MoneyHelper.  

What happens to customers who have ongoing cases at the Financial Ombudsman Service?  

Please contact the Financial Ombudsman Service by consulting their website or calling their helpline on 0800 023 4567. 

What will happen to any outstanding claims for compensation now the business is in administration?   

The administrators will be providing further details about how claims and complaints will be dealt with in due course. 

Customers who are struggling financially can also get free and impartial guidance from MoneyHelper.  

Source: FCA

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