Notice to Loan Account holders

Important Notice from 23rd August 2019

​Danske Bank A/S trading as Danske Bank (“Danske”) wish to advise you that Danske has entered into an agreement to transfer a loan portfolio, which includes unsecured loans (i.e. term loans, credit cards and overdrafts) to Everyday Finance Designated Activity Company. 

The transfer in ownership of the loan portfolio becomes effective on the 23rd August 2019. 

Danske has written to all customers whose loan(s) is (are) included in the portfolio which is being transferred. If you are concerned that your loan is included in the loan portfolio being transferred and you have not received a letter, or, if you have received a letter and have any queries, please contact Pepper, up until the 23rd of August 2019, on 1890 818 796 (or +353 61 705 910 if outside the Republic of Ireland) from Monday to Friday 9am to 5pm. 

Alternatively, customers can write to Pepper at Pepper Asset Servicing, PO Box 695, and Shannon, Co. Clare

If you have a query from 23rd August 2019 you should contact Everyday Finance on 091 700010, from Monday to Thursday 9am – 7pm and Fridays from 9am to 5.30pm

Alternatively, customers can write to Everyday Finance at 16 Briarhill Business Park, Ballybrit, Galway. 



Questions & Answers


General

Why is / are my account(s) being sold when my repayments are up to date?​

As per previous communications, Danske is winding down its retail and business banking division in Ireland.  This account portfolio sale is part of that ongoing wind-down process.


Was I supposed to receive a letter? I have not received one. 

All customers impacted by the sale were written to during the week commencing 17th June 2019 and the letter was sent to the address that we have on file for each customer. If you believe your loan may have been included in the sale and you did not receive a letter, please make contact with Pepper, on the above phone number, as soon as possible to confirm if you are part of the sale. If your loan is included in the sale and you did not receive a notification letter, (for instance because you have a new address) please verify your contact details with Pepper you will be issued with an additional copy of the notification letter. 


When does this change take effect?

Your loan will transfer to Everyday Finance on 23rd August 2019. After this date you should contact Everyday Finance with any queries you have regarding your loan. 


Not all of my accounts have been listed on my notification letter?


Accounts not listed in the notification letter sent to you remain under Danske ownership.


Can I redeem my account(s) before the sales process finishes? 


Of course. If you are in a position to do so, you may repay your account(s) in full at any time prior to the transfer of the legal ownership of your account(s) to Everyday Finance, expected to be on 23 August 2019


What happens on the 23rd August 2019? 


The legal ownership of the loans will pass from Danske to Everyday Finance.  Danske and Everyday Finance will contact you on or about the transfer date to share further details in relation to the administration of your account(s) after the transfer date. You should continue to make payments in accordance with the terms of your current payment arrangement(s) until further notice.


Impact on Repayments

If you have already set up a direct debit, you do not need to take any action at this point. You will be contacted by Everyday Finance around the 23rd August 2019 and in advance of any changes required to the arrangements for your account repayments.


Will my interest rate change in the future when the new Purchaser takes over my account(s)?


The terms and conditions of your facility letter are unaffected by this portfolio sale. 



Financial Difficulties

If I am in arrears with my account(s), what will happen when Everyday Finance takes control of my account(s)?


Prior to the account sale if you are experiencing financial difficulties or expect to be unable to meet your obligations in relation to your account(s) or are currently in the arrears handling process with Pepper, we would strongly encourage you to engage / continue to engage with Pepper in that regard as soon as possible. Please contact Pepper, up until the 23rd of August 2019, on 1890 818 796 (or +353 61 705 910 if outside the Republic of Ireland) from Monday to Friday 9am to 5pm. 

After the transfer date, if you are experiencing financial difficulties, you should contact Everyday Finance on 091 700010, from Monday to Thursday 9am – 7pm and Fridays from 9am to 5.30pm.


Legal/Regulatory

What will happen with my personal data?


As part of the account portfolio sale, relevant details relating to your account(s) held by Danske and/or Pepper which are necessary to manage your account(s) will be transferred to Everyday Finance. Your data will continue to be processed in accordance with applicable Data Protection legislation. Your personal rights will not be affected. Danske will continue to maintain relevant records about your account(s) in accordance with its legal and regulatory obligations


Who has purchased my account(s)? / Who is the legal owner of my account(s)?


Danske has entered into an agreement to sell an account portfolios to Everyday Finance Designated Activity Company.


Everyday Finance will be the legal owner of your account(s) and LC Asset 1 S.à.r.l. will be the beneficial owner of your account(s).  


Who are Everyday Finance DAC?

Everyday Finance is a credit service provider regulated by the Central Bank of Ireland. It is a company incorporated in Ireland having its registered office at 16 Briarhill Business Park, Ballybrit, Galway. Everyday Finance will provide customer and administration services for and on behalf of the LC Asset 1 Sa.r.l who are the beneficial owner. They shall hold the beneficial interest in your account(s) and Everyday Finance will be the regulated entity that will own and service your account(s).   Everyday Finance will be sending you a letter around the 23rd of August.


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