Debt Camel

Answers to questions about debts and credit ratings - in plain English!

Payday loan refunds – how long till a lender replies? pays out?

When you get a payday loan, it arrives very quickly… so why does it take some payday lenders so long to pay out refunds for unaffordable lending? Especially as a few lenders are very fast?

Hundreds of people have left comments on the How to get a payday loan refund page on the progress of their claims. This article summarises recent comments about the large and mid-sized lenders. It covers when firms reply to your initial complaint and how long it takes for a refund to be paid.

It also gives an indication as to whether it is worth trying to negotiate when a lender has rejected or made an offer which is too low… You should always go back to the lender if there is a fundamental error e.g. they have the wrong number of loans. But is it worth bothering if they have just made the wrong decision? For many lenders, you are just wasting time and mental energy as the lender doesn’t listen – send your complaint to the ombudsman straight away.

snail - why are payday loan refunds so slow after they have been agreed/

Don’t forget…

Your case is an individual one. You may get a good result quickly from a lender who has a reputation for being difficult. Or you may have a good case rejected by a lender that other people have found fair to deal with – that doesn’t mean you are wrong and it’s a bad case. The ombudsman is agreeing with customer complaints in 68% of payday loan cases!

So seeing what has happened to other people is interesting but it doesn’t really help you decide what you should do. The main payday loan refund page describes the whole process, including if you should take a case to the Ombudsman and how to do it. That page is the best place to ask questions… and also to say how your case is going!

The big three payday lenders

Wonga

With Wonga now in administration from end August 2018, what has happened with previous refunds is no longer relevant. See Wonga refunds after administration – latest news for up to date information.

Payouts from Quick Quid (and their smaller sister company Pounds To Pocket)

They usually ask you to send payslips and bank statements. You don’t have to if you don’t want to – just tell them to consider your complaint as it stands and that you will supply more information to the Ombudsman. I haven’t seen any sign that they actually pay attention to anything you send them. Very often they make low offers, only on a few loans. They usually reject complaints about loans over 6 years old and loans in 2015 or after.

Response time – in the last of the 8 weeks normally but some rejections come earlier.

Worth negotiating? No. But they may make you larger offers while you are waiting in the adjudicator or ombudsman queue.

Do they add 8% statutory interest?  Yes.

Payout timescales – After dragging complaints out, people normally get paid in a couple of days. Chase if you haven’t been refunded after a week.

Also see separate article about Quick Quid complaints.

Payouts from Payday UK, Payday Express and the Money Shop

In autumn 2017 both these brands stopped lending but they are not in administration and are paying out. And their complaints handling has improved significantly!

Make sure you are clear about what is being offered. If you are complaining about Payday UK and Payday Express, sometimes they usually combine your complaints in a single offer.

See the separate article about Payday UK etc complaints.

Response time –  rejections may come earlier but most responses are right at the end of the 8 weeks and they sometimes ask for more time. I suggest sending your case straight to the Ombudsman at 8 weeks if they do this.

Worth negotiating? No.

Do they add 8% statutory interest? Yes.

Payout timescales – Random! In the last few months, people have reported 3 days, 5 days, 5 working days, some have been a month, but the most common is about 3 weeks.

The mid-sized payday lenders

Lending Stream refunds

Response time – They often respond fairly quickly by rejecting the complaint. Many people are told they had what sounds like an absurdly high credit score so ignore this. Sometimes they don’t say this is their final response, and if you ask if it is, they don’t reply – in this case, send to the Ombudsman at 8 weeks or whenever you get fed up!

Worth negotiating? No.

Do they add 8% statutory interest? No.

Payout timescales – They were as slow as they possibly can be, even going over the 28 days the Ombudsman allows. Tell your adjudicator if this happens. In mid 2018 they started to pay out in a couple of weeks for some people then it got slow again. leaving a bad trust Pilot review sometimes speeds things up!

Lending Stream is so bad at complaint handling that I’ve written a separate article: Lending Stream’s poor and slow complaint handling. The only good thing is that people are getting large refunds in the end from them!

Mr Lender refunds

Response time – usually in the first few weeks, some within days.

Worth negotiating? Definitely. They seem keen to reach a sensible settlement directly, so if you think extra loans should be included argue your case.

They also get upset if you post a bad Trust Pilot review and try to resolve the issue with you.

Do they add 8% statutory interest? No, but people are normally happy to settle without this as Mr Lender has been prompt and helpful about the process.

Payout timescales – a few days.

Myjar refunds

Response time – replies used to be in the 8th week but in late 2018 they started asking for an extra 2 weeks (10 working days) at the end of 8 weeks.

Worth negotiating? Some people have had success at getting one or two extra loans included in the refund. Some people have got refunds after being rejected when they replied detailing how many other payday loans they had at the time.

Some people who were sent a rejection and replied saying they were sending the case to the Ombudsman then got an offer!

Other people have kicked Myjar into action when they are ignoring an adjudicator decision by leaving a bad Trust Pilot review.

Do they add 8% statutory interest? Yes usually. If you didn’t specifically ask for it in your complaint, go back to them and they will add it.

Payout timescales – In August 2018 many people were saying they took a very long while, others about two days.

Peachy refunds

Response time – usually reply very fast but sometimes several weeks. Make sure the offer is reasonable though – as it’s often the first you will get if you are making several complaints, some people say yes then only later realise it wasn’t good.

Worth negotiating? Some people have reported a success after getting a rejection, but they had to push pretty hard. Some people have had additional loans included in a refund when the first offer was too low.

Do they add 8% statutory interest? No. But if you go back and say you will accept their offer if they add it, they sometimes do.

Payout timescales – within a few days.

Safetynet Credit refunds

Response time – Whilst you are waiting, make sure you have cancelled the CPA with your bank as SNC have a bad habit of waiting 30 days then collecting all the money, even though the complaint is still ongoing. Usually reply somewhere in the 4-6 week region but some people get very quick responses.

Worth negotiating? No. Ignore their lengthy comments that they are not a payday lender, that you are just using a template letter (so what? they are using template replies!), that they credit checked you (they may have done but then ignored it!), that your income was fine (haha). They should have seen from your bank statements that you were reliant on borrowing from them – send the case to the Ombudsman.

Payout timescales – same day or next day.

Sunny refunds

Response time – usually in the 7th or 8th week.

Worth negotiating? No. Only exception if the refund offered is OK but they haven’t mentioned deleting the credit card record – if this is important to you it’s worth asking them to do this rather than have the case go to the Ombudsman.

Payout timescales – sometimes ok, but sometimes very slow! People have speeded things up by leaving a bad review on Trust Pilot – this often makes Sunny talk to you immediately.

Uncle Buck refunds

They normally ask people to supply a credit report and bank statements. I suggest not doing this as they rarely make good offers and can be unpleasant. Tell them to consider the complaint on the basis of what they know.

Response time – in the last few days of the 8 weeks.

Worth negotiating? No. This is definitely not a lender you want to talk to.

Trust Pilot reviews: If UB is ignoring a decision by an adjudicator so you are told it has to wait for an ombudsman, trying leaving them a very bad review on Trust Pilot. This has worked for several readers.

Payout timescales – it used to be 28 days, now some readers are reporting less than a week.

 Wageday Advance refunds

Wageday Advance went into administration in February 2019. What happened previously with refunds from them is no longer relevant. See Wagdeday Advance refunds after administration for the latest news.

247 Moneybox refunds

Response time – Sometimes people are offered a write-off very quickly, but usually they are slow. Send cases straight to the ombudsman at 8 weeks if they haven’t replied. They are also slow to send the case details to the adjudicator and sometimes ignore an adjudicator’s decision.

Worth negotiating? Possibly. Some people have succeeded saying they will accept the offer if it is changed to include 8% statutory interest. But they may ignore your emails. But some people have had an offer after they have told Moneybox 247 that the complaint has been sent to the Ombudsman.

Payout timescales – They were very slow, sometimes not paying out within the allowed 28 days after an Ombudsman decision. But in late 2018 some people reported getting payouts in under a week.

More resources

There are a LOT of articles about payday loans refunds on this site. Some of the most useful include:

Author: Sara Williams Tagged With:

Comments

  1. Hi, I contacted Northway in October to provide a list of Poundstillpayday loans. I’ve still not received a response. What should I do? Thanks

    Reply

  2. Hi all

    Got this today if Sara needs to update

    Pounds to Pocket is now On Stride Financial
    Dear Adam,

    Pounds to Pocket has been proud to provide instalment loans to hardworking people in the UK for the past eight years. In order to better serve valued customers like you, we have merged with one of our partners, and will now trade under the name On Stride Financial.

    As of today, 13/02/2019, you will no longer be able to log in to Pounds to Pocket at PoundstoPocket.co.uk. Fortunately, all of the same services you’ve come to expect from Pounds to Pocket will still be available through On Stride Financial.

    To log in to On Stride Financial, just use your email address, xxxxxxxxx, and your same Pounds to Pocket password. Can’t remember your password? Just follow this link to reset it. And if you have any questions, don’t hesitate to call customer support on 0800 210 0923 seven days a week or check out our FAQ.

    Thanks,

    The On Stride Financial Team

    Reply

  3. Hi Sara,

    I have complained to sunny who have replied in the 8th week of my initial email. They have partially upheld my complaint and offered the below:

    To put things right, we propose to do the following:

    • Calculate the interest paid by you for draws/loans from the point in time at which you had been charged interest for 12 months (£2157.10);
    • Pay interest of 8% (simple) on the above refund amount from the dates of payment to the dates of settlement, which comes to £449.44;
    • Amend your credit file by removing any relevant loans/entries to reflect the above.

    I’m a bit confused, will my refund be £449.44 or £2157.10 plus £449.44? If anyone else has had a sunny response written like this, I would be grateful if you could confirm what was actually paid out.

    Thank you for the info on this site, its been really helpful.

    Reply

    • It sounds as though your refund will be 2157 + 449. Sunny will probably deduct tax from the 449 – about £90 – which they will pay to HMRC.

      How many loans did you have in the first 12 months they are not offering to refund?

      Reply

    • Thank you for clarifying. There were 8 loans in the first 12 months so they are partially upholding my complaint and paying from loans 9-53

      Reply

      • ok, so you may be able to get a few extra loans included if you went to FOS but that would probably only be an extra couple of hundred. You may well prefer to take the offer as you are getting almost all of what the maximum is.

        Reply

      • Thanks Sara. Yeah I’m going to accept, I’m on maternity leave at the moment so this will be a huge help. I have an outstanding case with payday express who I’m waiting to hear back from and I have gone to FOS regarding QQ who rejected my complaint altogether and I’m aware the FOS can take months so I’m happy to accept this offer while I wait on the others

        Reply

    • Good Morning
      May I ask the outcome on this?
      I have just received a final response from Sunny and also partial uphold of my complaint with very similar figures as you have.
      Terry

      Reply

      • Hello Terry,
        I received the 2 amounts so the 2k amount plus the 400+. Once I accepted the offer the funds were in my account within the 5 days they promised.
        Thanks,
        Ash

        Reply

        • Thank you for the advice
          I want to show a screen shot of the letter for someone to give feedback
          Could this be done on here or private PM

          Reply

  4. Random question. I put in some complaints with multiple companies via Debthacker 8 weeks ago and they haven’t responded. How does this work legally in regards to their obligations to respond within the 8 week timeframe? Nothing i guess?

    Reply

  5. Hi all looking for some information, I’m really regretful that I used the payday loan service after a separation and I just couldn’t manage at all! I originally began the process in July 2018, my case has now gone to the FOS and I am still a/W allocation of an adjudicator March 2019. Is this normal? I imagine that there are lots of people trying to claim back.
    Any info, greatly appreciated
    Cath

    Reply

  6. Feel like Peachy are trying to screw me over, would like some advice.

    After complaining they have offered me a partial refund of £831 which I’m willing to accept. However they want to knock that off my existing/outstanding loan (which is fully up to date). The email they sent me says that would then leave £700 outstanding to pay. This is where it gets slightly complicated to explain.

    I currently have circa 1500 outstanding on that loan if it was to runs it’s full length, however to settle that loan today would only cost 1022. Therefore surely if they put the 831 refund towards paying off my loan today surely my outstanding amount should be 1022-831 (£190ish). It feels like they’re trying to get me to accept the refund offer and then pay it in a way which means they’re barely actually offering a refund.

    Given they said they partially upheld the complaint and would be prepared to refund £831, before then going to on to explain how they’ll use this against current loan, does that mean I’m actually entitled to £831 cash? If I rang up now and paid the outstanding loan they’d presumably be in a situation where they had to pay cash as there’s no loan to offset it against?

    Any help ASAP appreciated as expect further discussion today. Thanks a lot for all your help

    Reply

    • Well the first question is whether peachy’s offer is actually good? the last loan sounds large, do you think it too was unaffordable? is there a reason Peachy haven’t included the last loan in the offer? Would you like to summarise your borrowing from them – how many loans, how much was each loan for (amount borrowed, ignore interest) and were there any large gaps between the loans?

      If the last loan was included, the arithmetic gets totally different and much more in your favour.

      BUT if there are good reasons why the last loan is considered to be affordable…

      I suggest you try the simple route of saying that as it will only cost 1022 to settle the loan, if you accept this refund and pay them £191 today will they clear the loan. See what they say.

      Reply

    • Hi Sarah. I too accepted an offer from Payday Express. Sent the form and asked them to tell me when i can expect payment to be made, no answer. So I called them to ask if they have received my form and payment date. The lady on the other end found my email and said it can take up to 28 days depending on when it gets handled. Didn’t understand fully as to why it takes that long but she did say 1st come 1st served. I’m just going to have to check my account every other day and hopefully get it in less time. Hope this helps in some way.

      Reply

      • Thanks. Yeh they seem to be cagey. I spoke to them on tuesday they said i should have funds by friday (tomorrow) I’ll keep you posted

        Reply

  8. I have just had a surprising phone call from Uncle Buck. Based on your review of their handling of complaints I was expecting a long drawn out battle. They have just called and offered me £680 in redress for loans I took out with them. I had calculated redress at about £800 however the lady stated that there was a gap in borrowing of 2 months so wouldn’t consider the first 4 (as credit seemed ok at the time of these loans) and 1 other due to the gap (total of 13 loans). I have accepted based on the time it would take to go through ombudsman etc and actually she seemed to have reasonable justification for the loans they were discounting. Obviously not received the money yet so i will see what happens. Just thought that maybe they have a change in how they are dealing with these cases maybe? On the other hand the last it makes me nervous as the last company that offered redress were WDA and they went into liquidation the day after!!!. I will let u know how long if and when I get payout. Just thought it might be useful for others.

    Reply

    • Hi Nicki. Just thought I’d tell you that I accepted my offer on the 12th of March, chased on the 13th and got told it would be 7 working days until I receive my payment. The money was in my account on the 15th March, so hopefully you don’t have to wait too long. I’m still waiting for PDExpress to send payment and a decision for 247 so hopefully I get it before they go bust!!!

      Reply

    • Hi Nicki
      I put in a complaint on the 14th of Jan, they acknowledged it on the 15th and I got my Final Response letter on the 31st, which was pretty good. I still had an outstanding balance with them and so it was taken off immediately, so not sure about payout times. Communication with them was better than other companies that I have a complaint with. Good luck!

      Reply

  10. This is my response from 247 moneybox (active securities ltd) received last week on Monday 1st of April 2019
    The business has responded and says that it agrees with the recommendations we set out on 10 March 2019

    After reviewing our findings it agrees that further checks should have been completed for loan 7 onwards

    The business will also remove the loan entries about loan 7 onwards from the customer’s credit file. The offer is as follows:

    · Repaid £4,493.08
    · Principal repaid £3,600.00
    · Interest & Charges £893.08

    · Gross Interest £141.80
    · Gross Comp £0
    · Tax @ 20% £28.36
    · Net Payment £113.44
    Total net to customer : £1003.00

    Still waiting… Fingers crossed that will not take long..

    Reply

  11. Very similar to the above comment from Mr Dimitrios concerning Moneybox 247.

    I have been offered approximately the same redress amount on Friday 29th March of which I accepted the same day since then I have tried emailing and calling with no acknowledgment and on all occasions.

    How long do they have to transfer the funds into your account?

    Reply

    • Hi James, they have 28days by law…but I don’t know if they comply.
      Still no news for me till today.
      The 29th is their deadline but Easter holidays might affect it??

      Reply

      • Hi,

        I threatened to send it to the FOS and funnily enough I now have the funds. I would suggest following the same protocol as it sounds like you got the redress email before I did

        Reply

  12. Hi Sara
    I have just received the offer below from Sunny. Before I accept am I right in thinking that my refund would £2857.27, and my outstanding balance is written off. So I should expect to receive the above amount or are they saying they will deduct from the outstanding balance from the above amount?

    To put things right, we propose to do the following:

    · Calculate the interest paid by you on your draws/loans from your 3rd loan onwards (£2294.43);
    · Pay interest of 8% (simple) on the above refund amount from the dates of payment to the dates of settlement, which comes to £562.84;
    · The total refund is the sum of the above amounts £2857.27;
    · The outstanding balance of £568.19 will be written off, meaning you no longer have any liability to us;
    · Amend your credit file to reflect the above.

    I think I am reading it right but want someone else to read before I accept.
    Any help appreciated

    Reply

    • I think you are right. But it’s worth double checking with them that they aren’t deducting the £586 from the write-off.

      Also if the outstanding balance or any previous loans have negative marks on your credit record (missed payments or defaults) ask for them to be removed. They may be planning to do this – the email isn’t very specific. But check now, don’t assume and then have to argue later.

      Reply

      • Many thanks Sara I will give them a call just to be sure. If it is correct it will be the 4th successful claim using you templates and advice. With only one going to FOS so again many thanks for all the help you give us with your website and advice.

        Reply

      • I have spoken to sunny today they have confirmed my redress is 2857.26 so I will receive that amount, and that my outstanding loan is written off. They state that apart from the outstanding balance I had no defaulted payments and that my credit file will be updated and any negative records removed. I have received statements from them this morning to show zero balances. They wouldn’t commit to a payout timing but said if I haven’t received redress in 7 days I could call them. I i will post an update if and when actual payment is received.

        Reply

          • Out of interest Nicki was it on the 5th day it was cleared into your account or earlier?

            I’m still waiting on my its been 4 days now.

            thanks
            Kay

    • I have had success with Piggybank. My experience was pretty straightforward with them from what I can remember. Submitted my complaint on the 14th Jan, didn’t get a response so sent again on the 15th Jan. Acknowledged by them on the 18th Jan. Received my Final Response on the 28th Jan, offered me a refund on the last 6 out of the 12 loans I had with them and accepted it same day with bank account details. Got an email back on the 29th Jan confirming that the details have been received and will be sent to the accounts department and that payment will take a week. Money was in my account on the 31st Jan.

      Reply

  14. Anybody can give me a breakdown of timelines with 247. I emailed them with my complaint on the 27th Feb. Sent a chase email on the 4th of March. Got acknowledged on the 5th March and got sent a summary of loans.
    Total amount borrowed across all loans: £25268.00
    Total amount repaid across all loans: £33954.10
    Outstanding balance: £0.00
    Got another acknowledgement email on the 8th March asking what would it take to consider this complaint closed and I said provide a refund of all charges and fees, plus 8% statutory interest and remove lines in my credit history. (I think that might have spooked them!) And I have not heard anything back since. I have emailed them yesterday asking for an update and telling them that I will send my complaint to the FOS after the 8 weeks but still no response.
    Has anyone who has/had a complaint with 247 experienced this with them? Should I be prepared to send this to the FOS? If thats the case, it will be my first one as all others have been pretty good.
    Any help to ease my worries will be greatly appreciated. Thanks.

    Reply

    • “I think that might have spooked them!” well that is presumably what you asked for in your complaint but they wanted to know what it would take to settle the case. Few people get full refunds for all their loans. Also FOS doesn’t say to remove all the debts from people’s credit history, just any negative remarks.
      Your options are to give them another few days or send the case to FOS now.

      Reply

      • Thanks Sara. Yeah I wasn’t sure at the time and just wanted to get the process going going as quick as possible going from previous experience. I know I won’t get a refund on all loans and only my negative lines can be removed, maybe going back to them with a better answer might be an idea??? I have sent an email giving them a deadline of the 24th as this is when the 8 weeks are up. I’l have a think about it up until then so be abit patient i think.

        Reply

        • I have received my Final Response and I was not happy with the amount they were offering and the explanation they gave regarding some of my loans. So i have gone back to them, asking to include some of the loans which should be upheld.
          Its the last loan company, and this has been a long process with them considering the others have been straightforward. So hopefully they will get back to me. My question is, if they still stand by the offer they gave me, should I accept their offer or go to the FOS?

          Reply

          • Well why don’t you wait and see and post details of the offer if they won’t increase it.

  15. Hi, I have received a final decision from the FOS about a complaint against FOS. They have been instructed to refund 2 loans. Does any one have experience with payout timescales against Cashfloat?

    Reply

  16. Hi just to say I have just received redress payment from 24/7 moneybox 3 working days since agreeing to their offer. This is my final redress from all 5 of the irresponsible lending complaints I have made. The total is £5500. No where near what I have borrowed and paid back but I now have outstanding claims now (except WDA) and no outstanding debt to payday lenders and don’t ever intend to borrow again. Still waiting for one to be cleared off my credit file which has gone from 97 out of 700 to 300 which although not great still is a lot better. It has been a long road from getting caught in the spiral of payday lending debt and I am not completely blameless but looking back I completely acknowledge the role in which these companies have played in my situation by simply making it so easy when you are desperate for whatever reason. So feel that this is a great result for people like myself. I appreciate the support of this website and Sara and you guys who have commented on posts I have made. Good luck to you all. The best advice I have is when waiting for a payment of redress once agreed keep emailing the company asking for timescales for payment, I have received payment within all cases within 5 days excluding WDA which obviously is still pending. And don’t be afraid to call them if they are stalling.

    Reply

  17. It looks like cashfloat will wait to the last day to pay their refunds. Since accepting they have continued to fob me off, I spoke to them yesterday and they claimed they were investigating the case with the FOS even though a final decision has been made and I accepted.

    Reply

  18. Just had an offer from payday express for £2600. It has taken nearly 6 months to get to this stage, The Financial Ombudsman Service ruled in my favour. I have accepted this offer today 29th March. How long before I should receive refund from payday express.

    Reply

    • Hello William,
      When you made you’re original complaint did they get back to you within the 8 week time scale at all?
      I haven’t had a reply and I’m just wondering what to do now.
      Thanks
      Kelly

      Reply

  19. I accepted my offer from 247 on the 25th April, and I have been waiting for an update. I have phoned them but they kept diverting me to a recorded message instead of the correct department. Since then I have emailed them everyday with the same email, asking for an update and a refund process date but got a standard response of its with the payments team. Today I sent them an email telling them how frustrated I was with their communication, and that I wanted an update from them regarding the time and the payment amount that will be refunded and that their payments team need to be chased. I also said that I will email every day (and every hour if I can) until the refund is processed. I received the following response: – Thanks for your email. Looking into this with urgency – I appreciate your frustration. I can confirm this is still with the payments team.
    I do not have figures for you yet (looking into this), however, I can see your refund will be actioned by close of business on 07/05/19.
    So I will have to wait until fate the Bank Holiday Weekend to see if it gets processed. If not my bombardment of emails will keep flowing to them. So my advise would be to keep emailing them to death.

    Reply

  20. BTW my offer was £2513.08 plus I get 8% interest and they will remove lines from my Credit file, way less than I wanted but as they were not the smoothest of companies to deal with I accepted instead of going to the FOS. Did you guys accept their off or go to the FOS? How much did you they offer you?

    Reply

  21. Uncle Buck pre 2010 apparently they went under and had a slight name change FOS pretty sure they can’t do anything with my complaint really shocking they can do this

    Reply

    • Ask for it to be looked at again. People have been told this before and it has always been resolved in the end so far as I know.

      Reply

  23. I have had a succesful response from Sunny complaint I raised 18.03.2019

    partially uphold your complaint from your 11th draw onwards.

    BUT
    First up they state:
    Although you were granted a number of draws, we note that taking into account all of your draws, you were charged interest for 12 months or less.
    I borrowed from October 2013 to December 2014 interest each month so 14 months – does it make a difference if more than a year? But also there making an incorrect statement?

    Secondly (albiet a small point):
    interest paid by you on your draws from your 11th draw onwards, which comes to £675.52
    ACTUALLY £675.53 only a penny but still its more incorrect information.

    After offer amount – They pretty much finish with:
    Please let us know if you wish to accept this offer and provide your sort code and account number by return email so I can arrange for the redress payment to be made to you. Once we are in receipt of these details, please allow 5 working days to receive the payment.

    1/ Is it worth calling attention to there errors.

    2/ Can I accept there offer and still refer to the Ombudsman?

    3/ The other 10 loans occurred from 23.10.2013 to 21.02.2014 – would the ombudsmand be likely to add more loans and associated interest?

    Thanks.

    Reply

    • If they have offered you a refund on 11-14 and got it right to within a penny, then if you want to accept why waste time by pointing out the small errors?

      No you can’t accept this and take 1-10 to FOS. The offer will be in full settlement of your case.

      Yes it is pretty likely that FOS would add more loans and the associated 8% interest. From line 4, 5, or 6 is common but it may depend how large the loans are. Could be earlier or later.

      Reply

      • Thanks Sara,

        Just to clarify they are refunding loans 11 – 30.

        The period over which I took loans was 14 months, so I’m confused by there statement:
        Although you were granted a number of draws, we note that taking into account all of your draws, you were charged interest for 12 months or less.

        Each loan was only within a month or so but in total loans with interest was over 14 months.

        That there making errors is a concern they have made a correct judgement.

        As I understand it Sunny don’t tend to negotiate on there offers and from loans 4 would add about 25 – 30% more refund so I think I will refer to ombudsman.

        Thank you for your help and having set this site up, I wouldn’t have known I could make a complaint of any sort otherwise in regards to this.

        Regards.

        Reply

        • The interest you paid on loans 11-30 plus 8% simple interest came to only 625? How much of that was the extra 8%?

          Did you mean a extra 25 or 250?

          Reply

          • The 675.52 was the Sunny interest, with 8% gets to 954.10, loans 1 – 10 account for a further 378.00 Sunny Interest so about another £200 could be due taking from loan 5.

            So about another 25 – 30 percent on top of what already stated.

            I’m fine waiting a few months or so if a larger refund due.

  24. Hi,

    Could somebody please point me in the right direction i myself have had plenty of these loans not any since 2011/2012.

    I have used debthacker to fill in on there website however after reading all your stories and majority of success how do you actually write the complaint if doing it via yourselves.

    Any info on this would be really greatfull.

    Thanks in advance.

    Reply

    • The letters are over on this page https://debtcamel.co.uk/payday-loan-refunds/ which also looks at the Claiming process in detail. DEbt Hacker has kicked your Claims off. You don’t need to do this again. But you may get more helpful advice if you read the comments on the template letters page here and ask any questions there? In particular if you have been made an offer and you aren’t sure if it is good enough or if you should go to theOmbudsman or not.

      Reply

  25. Please can someone advise me on what this means? I don’t have any outstanding balance so I’m unsure what I am due.

    Interest and fees eligible for refund: £491.75
    ● plus 8% statutory interest £264.45
    ● less 20% withholding £52.89
    ● Total Owed to you £703.31
    —————————————————————–
    ● Total Waiver Amount: £703.31
    —————————————————————–
    ● Total Outstanding balance after the redress: £222.37

    Reply

  26. Hi Sara,
    I’m after some advice, I put in a complaint to Mr Lender I only had one loan with them spread over 2 months but several more else where which I’m in the process of complaining to also.
    The loan amount was £400 and I paid £240 interest
    The have rejected my complaint as they are telling me my credit score was ok at the time, I was working no evidence of IVA’s or bankruptcy etc etc but are offering me a £25 amazon or Tesco voucher !
    Is this worth taking to the ombudsman ?
    Thanks

    Reply

    • It’s hard to win a one loan complaint unless it was very large. Or there were recent defaults or CCJs on your credit record.

      Reply

      • Hi Sara,

        Ok thank you I have forwarded onto the ombudsman, at least I know what to expect.

        thank you

        Reply

  27. Hi Sara,

    247 have offered me a settlement deal but since I accepted I have not heard back from them. That was on 7th May. I first made my claim on 1st March. What is the best thing to do here? Is it worth just sending to the FOS now?

    Thanks

    Reply

        • Sorry – I’ve already asked this below. But did you get a refund in the end? If so, how long did it take? I received a final response from them yesterday but actually getting through to someone seems impossible.

          Reply

          • Brilliant – thanks. Was that recently? I’m hearing a lot of mixed things about the
            – some people are days and some people are months.

  28. Looking for some info that has cropped up in the comments a bit – however I’m still a bit unclear on the time it takes for 247 Moneybox to transfer the redress payment back to me. They sent me an offer today that was reasonable – but didn’t include the 8% interest – but said that would be added, and I accepted following their process of sending back bank details.

    I’ve called them a few times – terrible phone service. Lots of automated lines and can never actually transfer you to a department. I asked today after I got through to speak to someone in the complaints department but that said the only way to contact is via email but they never seem to reply to this. (I’ve emailed a few times in the past to chase up my complaint).

    Has anyone had recent similar correspondence with them? Did you hear anything back and how and when did you see the refund? Thanks

    Reply

    • I’m in a similar position – if you hear anything let me know. I had an offer, contacted a couple of times but not heard anything back. Calling doesn’t help. I’ve seen posts claiming 3 days, 10 days and some over 28. FOS told me to call them if I don’t hear anything soon and they will step in and make contact and then they have 14 days to process the refund. I’ve had varied experience getting refunds back – but 247 are by far the most difficult to interact with.

      Reply

    • They have told me 28 days today – I presume from when I accepted the offer.

      I think unfortunately with 247 is a case of being patient and waiting for them to get back to you. They offer no facility to actually speak to someone in the complaints department, it’s only communicated via email – and that is very much on their terms. If this is due to workload or out of choice, I have no idea – but of the 6/7 refunds I’ve had in the past this has been the most stressful to deal with.

      Reply

      • Hmmm ok that’s helpful thank you
        I found it really frustrating that i couldn’t speak with anyone about it on the phone.
        I have come to learn that with a lot of these companies its a waiting game.
        Thank you

        Reply

  30. Anybody dealt with Safeynet Credit before? I have had around £10,000 from them, they sent me a very long statement dating back to 2015 but so far has failed to acknowledge my complaint. I had recently send another email for more clarity of how much interest I had paid etc etc.

    Reply

    • Yes lots of people have had refunds from them. They can see your bank statements so they find it hard to argue that they thought the credit they were giving is affordable.

      Have you cancelled the CPA to them?

      Reply

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