Key facts
MyJar Limited entered administration on 22 December 2020. The summary below records the firm's product profile and the administration outcome paid to affordability claimants in mid-2022.
Joint Administrators: Harrisons Business Recovery & Insolvency. The MyJar lending entity served approximately 2 million customers across its operating life. The notification deadline for affordability claimants was 5 June 2022. Distributions of approximately 1 to 2 pence in the pound on agreed claims were paid from July 2022. Source: FCA news statement. Debt Camel record of the MyJar administration.
Timeline
MyJar's UK trading history compressed into the events that defined it. Each milestone is sourced to FCA notices, administrator communications or contemporaneous trade press reporting.
Origins as Pounds Till Payday
The business that becomes MyJar launches in the UK in 2008 under the trading name Pounds Till Payday. The product is short-term high-cost credit aimed at customers needing small sums to bridge to their next payday.
Rebrand to MyJar
The Pounds Till Payday brand is retired and the business relaunches as MyJar with an expanded product range covering £100 to £2,000 loans over up to 12 months. The MyJar name is positioned to suggest a personal savings jar to which the customer makes regular small contributions, although the underlying product remains an interest-bearing loan.
FCA price cap
The high-cost short-term credit price cap takes effect in January 2015. Daily interest is capped at 0.8 percent. Default fees are capped at £15. Total cost of credit is capped at 100 percent of the principal advanced. MyJar adapts its products to operate within the cap.
Affordability complaint volumes rise
Affordability complaints against MyJar accelerate alongside the broader UK payday lending sector. The Financial Ombudsman Service upholds a high proportion of complaints. The firm's redress provision rises substantially across successive accounting periods.
Administration
MyJar Limited enters administration on 22 December 2020. Harrisons Business Recovery & Insolvency is appointed as Joint Administrators. The firm stops accepting new loan applications. Existing customers are notified of the administration and the affordability claim process.
Claims adjudication
The administrators run an affordability claims process across the approximately 2 million customer base. The average claim received is for approximately £559 in redress. Claims are adjudicated against the original underwriting records and the FCA Consumer Credit sourcebook standards in force at the time of each loan.
Notification deadline closes
The deadline for claimants to submit a complaint to the administrators is 5 June 2022. Claims received after this date are not assessed. The deadline is communicated to customers through the administrators' communications channel and contemporaneous trade press.
Final dividend paid
Distribution of the final dividend of approximately 1 to 2 pence in the pound on agreed claims commences in July 2022. The exact percentage varies between claimant cohorts depending on when the claim was filed and the basis on which it was upheld.
PJG Financial acquires MyJar brand as a broker
Separately, PJG Financial Limited acquires the MyJar brand and FCA registration as a credit broker. PJG Financial is a separate legal entity from the MyJar Limited that entered administration. PJG operates the MyJar.com domain as a broker comparing loans from a panel of FCA-authorised lenders, not as a direct lender.
PJG MyJar broker continues, original entity dissolved
MyJar.com operates as a credit broker under PJG Financial Limited. The original lending entity, MyJar Limited, no longer exists as a trading business. The administration is closed. No further redress will be paid through the original entity.
What went wrong
MyJar's collapse followed the broader pattern of UK payday administrations between 2018 and 2024. The firm did not have a single distinctive failure mode. The factors that converged on MyJar are the same ones that closed Wonga, Sunny, QuickQuid and several others: rising affordability complaint volumes against a model whose pre-cap profitability was no longer available.
Affordability redress liability outpaced post-cap operating capacity
MyJar wrote substantial volumes of pre-2015 lending under the OFT licensing regime. After the FCA assumed consumer credit oversight in April 2014 and introduced the price cap in January 2015, the operating margin of the business compressed substantially. Affordability complaints from the pre-cap period continued to be referred to the Financial Ombudsman Service, which upheld a high proportion. Each upheld complaint reduced the firm's reserves. The post-cap business could not generate replacement profit at a rate sufficient to absorb the redress liability. By December 2020 the directors concluded that the entity could not continue to trade as a going concern. Administration was the only remaining path.
The 2 million customer base translated into a large addressable claim pool
MyJar's marketing positioning on small repeat short-term loans, which often functioned in practice as bad credit payday loans for borrowers with thin or impaired files, had produced an unusually large customer base for a firm of its scale. Approximately 2 million UK customers had taken at least one MyJar loan. This created a large addressable pool for affordability complaints, since each former customer was potentially eligible to submit a claim. The high uphold rate at the Financial Ombudsman Service combined with the large claim base produced a redress liability the firm's reserves could not absorb.
No parent-company funding to support a managed wind-down
Unlike CashEuroNet UK LLC, where parent Enova International contributed funding to support the wind-down of QuickQuid and Onstride, MyJar Limited did not have a parent willing or able to fund a higher dividend. The administration outcome of approximately 1 to 2 pence in the pound reflects what is available from internally-generated wind-down realisations alone, without parent-company support.
If you had a MyJar loan
The MyJar Limited administration is closed. The notification deadline passed on 5 June 2022 and the final dividend was paid from July 2022. The reference summary below covers what former MyJar customers should expect in 2026.
Successful affordability claimants
Claimants whose affordability complaints were upheld within the notification window received approximately 1 to 2 pence in the pound on agreed claim amounts. Distributions started in July 2022. The exact percentage varied between claimant cohorts. No further dividend will be paid through the MyJar Limited administration.
Outstanding loan balances
Loan balances outstanding at the date of administration were either written off, settled or sold to a third-party debt purchaser as part of the wind-down. Borrowers receiving collection contact in the MyJar name in 2026 should request the original credit agreement and a copy of the deed of assignment before paying anything. MoneyHelper and StepChange can both advise borrowers asked to pay a third-party debt owner.
The MyJar.com domain in 2026
The MyJar.com domain operates in 2026 as a credit broker under PJG Financial Limited, a separate legal entity from the original MyJar Limited that entered administration. PJG Financial holds its own FCA broker permissions and its operations are unconnected to the original MyJar lending business or its administration. Borrowers using the MyJar.com domain in 2026 are dealing with a broker, not the original direct lender.
If you are in current financial difficulty
The four bodies below provide free, impartial guidance to consumer credit borrowers. None of them charge. All four operate independently of the consumer credit industry. Each can advise on disputed historical balances. Each can also advise on dealing with a debt purchaser holding a legacy MyJar account.
The regulatory legacy
MyJar's administration is one of several from the 2018-2024 UK payday wave that left a small dividend, a brand subsequently acquired by an unrelated third party as a broker and a customer base directed to alternative active operators. The MyJar case is most notable for the brand reuse outcome.
Brand reuse after administration
The acquisition of the MyJar brand by PJG Financial Limited as a credit broker after the original lending entity entered administration is one of several similar cases in the UK payday sector. The pattern is also seen with the Wage Day Advance brand reuse and others. Brand reuse can confuse consumers about whether they are dealing with the original lender or a successor broker. Borrowers using a domain associated with a former payday lender should verify the current FCA registration before disclosing any personal or financial information.
The dividend reflects a typical UK payday outcome without parent funding
The 1 to 2 pence in the pound MyJar dividend is broadly consistent with the dividend outcomes from Wonga at 4.3 pence, Sunny at 3.21 pence, Money Shop and PaydayUK at 4.31 pence and Peachy at approximately 1 to 2 pence. The CashEuroNet outcome of approximately 53.6 pence is the outlier, made possible by the willingness of parent Enova International to contribute funding to the wind-down.
The active short-term credit market for former MyJar customers
Former MyJar customers needing similar short-term credit can use a single soft-search application to receive offers from active FCA-authorised firms, with a same-day loan available where the application is approved early enough in the day.
Where former MyJar customers borrow now.
Three FCA-authorised firms in the short-term loan market that former MyJar customers may now consider. None are connected to MyJar Limited or PJG Financial. All operate within the FCA price cap framework.
Direct lender for fixed-term short-term loans of £50 to £1,500 over up to 6 months. GAIN Credit LLC, FCA authorised since 2008. The closest active peer to MyJar in product structure and target customer.
Direct lender for short-term loans of £100 to £1,100 at 0.8 percent daily within the FCA price cap. Western Circle Limited, FCA authorised since 2014. UK-only operating focus, fast-funded loans.
Direct lender for short-term loans of £200 to £1,000, terms 1 to 6 months. PDL Finance Limited, FCA authorised since 2009. Established UK operator with 16+ years of trading history.
Sources and verification
Administration appointment date of 22 December 2020 and the identity of administrators Harrisons Business Recovery & Insolvency verified against the FCA news statement and Companies House records for MyJar Limited.
Customer base of approximately 2 million, average claim of approximately £559 and the 5 June 2022 notification deadline verified against contemporaneous Debt Camel coverage of the administration.
Final dividend distribution of approximately 1 to 2 pence in the pound from July 2022 verified against the administrators' progress reports filed at Companies House.
FCA reference number 672391 verified against the FCA register entry for MyJar Limited prior to administration. Loan amounts of £100 to £2,000 and term lengths of 3, 6 or 12 months verified against archived MyJar product disclosures.
Brand acquisition by PJG Financial Limited as a credit broker, separate FCA broker permissions and the legal separation between PJG Financial and the original MyJar Limited entity verified against the FCA register and Companies House records.
Swift Money Limited is a credit broker, not a lender. This page is an editorial record published by Swift Money. Inclusion does not imply commercial relationship between Swift Money and any entity that operated under the MyJar brand. We are authorised and regulated by the Financial Conduct Authority, FRN 738569.