Did your payday loans cost so much when you repaid one you had to keep on borrowing?
You can get a refund of the interest you paid on unaffordable loans.
It’s easy to ask for a payday loan refund using the free template letters here. The letters work if your payday loans were repaid or you still owe money.
The comments below this article have thousands of stories of the refunds people have got using these letters. It is a great place to ask questions!
Contents
What are “unaffordable” loans?
Was a loan affordable just because you repaid it?
No! If paying a loan left you so broke you had to borrow again – from the same lender or a different one – it was unaffordable!
The regulator says:
“the borrower should be able to make the required repayments without undue difficulty, whilst continuing to meet other debt repayment obligations and reasonable regular outgoings.”
That means a payday loan is only affordable if you repaid it on time and you could still manage to pay your other bills and debts.
Payday loans are meant to solve a short-term problem. If you kept repaying one then getting another loan soon after, the lender should have stopped lending to you.
If the loan was small and it was the first loan or second loan from a lender, the lender may not have realised the loan was unaffordable for you. But it was irresponsible lending to just carry on giving you more loans.
Many lenders ignore obvious signs of problems such as your loans increasing in size, or borrowing again soon after repayment.
How much compensation can you get?
You don’t have to calculate this. Just ask for a refund from the lender and see what you are offered. This is simple and it works well.
The Financial Ombudsman has seen tens of thousands of payday loan affordability complaints.
A typical decision by the Ombudsman is that the payday lender should refund all the interest you paid interest after the third, fourth or fifth loan.
But if your first loan was large, or was rolled over several times you could get a refund from just one loan.
Which lenders can you get refunds from?
You can complain to lenders that are still in business, even if they are no longer lending. These include:
Lending Stream, Cash Converters, CashASAP, Drafty, Dot Dot, Fast Loan Uk, Fernovo, Fund Ourselves, Kabayan, LoanPig, Mr Lender, Moneyboat, MyKredit, My Finance Club, QuidMarket, Savvy, The Money Platform, WageMe, Wizzcash,
See this email list for payday lenders for a longer list and all the contact details to use.
If the lender has gone into administration, including CashForUNow, Piggybank, Ferratum, Oakam, Safetynet Credit, Tappily:
- make a claim to the administrators – there is normally a simple form for you to complete, see the lender’s website for details – but there will be a time limit for doing this.
- you may not get much cash back but this is very easy to do. A balance may be reduced or cleared even if there is no cash to distribute. And if you win the complaint any negative marks on your credit record will be removed.
It is probably too late to make claims to other lenders who gave up years ago, see this list.
For longer-term loans there are better template letters to use on other pages:
- doorstep lenders and guarantor lenders,
- Loans2Go – the worst loans in Britain!
- 118 Money, Likely Loans, Bamboo, car finance, bank loans and other long-term loans.
Do this before, before you send in a complaint
Doing these things now will make your life easier later.
Get a copy of your TransUnion statutory credit report and keep it. After complaints are started, sometimes loans are deleted and you may want the full report if you later have to go to the Ombudsman.
If you still owe money to the lender, read Will an affordability claim hurt my credit record, and other questions. These looks at your options for stopping paying, the effect on your credit record etc.
If the rest of your finances are difficult, look into a Debt Management Plan (DMP) where you make one affordable payment a month to StepChange. This gets you into a safe financial position as these affordability complaints can take a long time to go through at the Ombudsman. Winning a complaint then speeds up the DMP.
Unless you can afford to make this month’s payment without borrowing again, cancel the CPA to the lender at your bank. Otherwise the lender may take the money and you will be in a mess.
If your loan was sold to a debt collector you complain to the original lender. But also tell the debt collector that you are disputing the debt. It is a good idea to carry on making payments to the debt collector if they are affordable.
Start your complaint & get loan details
Find the lender’s email address for complaints from this list.
Put “AFFORDABILITY COMPLAINT” as the subject of your email:
You should never have given me these unaffordable loans. Paying you each month left me with too little money so I had to keep borrowing to get through the next month.
You should have realised from the number of times I borrowed that my debt problems were getting worse. It was not responsible to continue to lend to me. [Add more details eg how often you borrowed or rolled loans if you know them, how the amount borrowed generally went up etc]
[Include/change this if your credit record would have shown big problems:] My credit reports would have shown all my other debts and problems including late payments/defaults /CCJs/debt management.]
I am asking you to refund the interest and any charges I paid, plus statutory interest, and to delete any negative information from my credit record.
[delete this sentence if you know what all your loans were.] I know the difficulties your loans have caused me but I no longer have all the loan details. Please send me a list, showing for each loan when it was taken out, how much interest and charges you added, and what I repaid. This will enable me to assess any refund you offer me.
[delete this sentence if none of your loans were sold.]If a loan was later sold to a debt collector, please inform me of the date of sale and the name of the debt collector.
Some ways to improve this
Add any other points that help you describe what happened to you. You don’t need to list the loans – the lenders knows them.
Some examples:
- “I took out another loan with xxxx to pay you.”
- “Sometimes I borrowed to pay the rent and then had to top-up to get money for food.”
- if you weren’t treated fairly while you were borrowing or when you could not make a payment, add a bit about this.
You can attach bank statements if you like, This is a good idea as these show how unaffordable the loans were for you. If you have gambling showing, this helps your complaint, it doesn’t harm it.
I don’t know if many lenders actually read what you send them. I
it’s easy to make these complaints – you don’t need to calculate what refund you should get or quote laws.
Only one loan?
The template refers to multiple loans because that is what normally happens with payday lenders.
When you only had one loan and it was large, read Refunds from large loans and use the template there.
If you only had one loan and it was small, this is going to be a very difficult complaint to win. If you have borrowed once or twice from 5 leaders, that is much more difficult to win an affordability complaint than having 4 or 5 loans from two lenders.
Waiting for a reply from the lender
This email starts your affordability complaint.
They may send the list of loans first and later respond to your complaint. So don’t be surprised if you get sent info on the loans but nothing about your request for a refund.
When you get your loan information, you can send in more details about your complaint if you want. You don’t have to do this, your complaint has already begun and the lender has to reply.
The lender should reply to your complaint within 8 weeks from when you send the email, not when they acknowledge it. Make a note in your diary for 8 weeks time and chase the lender up if you don’t get a reply.
Don’t be surprised if you have to wait until the end of the 8 weeks to get response – this is common.
Send your bank statements or other information?
Some lenders ask you to send them a copy of your credit record, payslips or bank statements.
Credit record – the lender can check your credit record themselves if they want. But you should download a copy of your credit record asap as the Ombudsman will ask for it. Don’t put this off, the sooner you get a report downloaded, the further back it goes which is good.
Don’t send payslips – they won’t help an affordability complaint and the ombudsman never asks for them.
It is a good idea to send bank statements. But think twice about the cost of copying and postage if there are a lot. Some lenders seem to ignore them if you do send them.
Again this is a good point to get those bank statements even if you do not want to send them as they will help an Ombudsman claim a lot. You can get them going back at least 6 years even if the account has been closed.
Lender says No or makes a poor offer
If the lender rejects your complaint or offers you a small amount, don’t be depressed. You may still have a very good case!
It is easy and free to send your case to the Financial Ombudsman where many thousands of people have won their payday loan complaints, despite being rejected by the lender.
Give up?
Some lenders try to make your case sound bad when it isn’t. People have had large amounts refunded after a complete rejection!
Just ignore any of the following comments, they do not mean you have a weak case:
- they relied on your loan applications and you didn’t give accurate facts – see Lender says I lied for more about this;
- you repaid some loans early – this doesn’t prove the loans were affordable, just that you were trying to save interest;
- your borrowing didn’t go up every time – irrelevant, what matters is that you kept borrowing;
- you had a good enough credit score or they didn’t legally have to check your credit record – if you only had one or two small loans that is true. But if the loans were large or you kept borrowing, they should have looked more closely;
- your loans are over 6 years old – the Ombudsman will look at these even if the lender says they won’t!
A good enough case to go to the Ombudsman?
If you don’t know what to do, ask in the comments below this article. Accepting an offer settles your whole complaint – you can’t change your mind later.
Don’t worry that you will lose a small offer by going to the Ombudsman – this doesn’t happen.
Some points to think about:
- if you are offered a refund on only a few loans, don’t accept it if you think the lender should have realised a lot of the other loans were unaffordable;
- an offer to write off your current balance may sound convenient … but it may be very poor if you should get a refund as well;
- if getting defaults or late payments removed from your credit record is important to you, are you happy with what the lender is proposing to do? Don’t assume your credit record will be cleared if the lender didn’t mention this.
One or two loan cases are hard to win at the Ombudsman. It’s probably best to give up on one or two loan cases unless:
- the loan was large. Here is one single loan case that was won even though it was an installment loan and the borrower had a good income. And another single loan case for a loan of £1,000. You can win cases for smaller amounts if the repayment would have been a large amount of your income; or
- you still owe money.
Don’t delay too long – there is a 6-month time limit after a lender rejects your complaint to send the case to the ombudsman. When you aren’t sure, send the complaint to FOS. This is easy to do – let FOS make the decision.
How to send a complaint to FOS
Put in a separate complaint about each lender.
Don’t wait until all your lenders have replied before sending the first one to the Ombudsman!
FOS’s “complain online” option is easy and takes you through your complaint step by step.
You can just copy what you said in your complaint to the lender. You can add more details, for example, if you disagree with what the lender replied to you.
If some of your loans were over 6 years ago, tell the Ombudsman when and how you found out about these complaints. For example:
“I knew the loans were causing me difficulty in 2016, but I thought this was my fault for being bad with money. I didn’t find out that the lender should have checked the loans were affordable until June 2022 when my brother told me about these claims/I saw an advert from a claims company on Facebook/I read an article about these claims” – change this so it is right for your case!
Things to attach:
- the reply you have had from the lender.
- bank statements if you have them. Ideally from 3 months before your first loan until the last loan was repaid or you defaulted on it. This strengthens your case, showing how unaffordable the loans were. You can still get bank statements even if your account is closed – if you don’t have them, start the process of getting them now, don’t wait until FOS asks for them.
- a copy of your TransUnion Statutory credit report
- a copy of the credit agreements for the loans if you have them. If you don’t, don’t worry, FOS will get them from the lender.
What happens after you have sent a case to FOS
You will normally be contacted within a couple of weeks and asked for a copy of your credit record and your bank statements if you haven’t sent these. If you have sent these on one complaint, then when you complain about a different lender they will use the ones they already have.
After this initial contact, your case will wait for the lender to send FOS your case file and then wait to be picked up by an adjudicator who will make a decision on it.
If you are still making payments to the lender, tell the lender you want to reduce these to an affordable amount. This will make waiting for an Ombudsman decision much less stressful for you.
The Financial Ombudsman has a two-stage process. Most cases are settled by the first “adjudicator” stage but about 10% go to the second “Ombudsman” stage.
A few problem cases
Don’t ask for a refund:
- if you are bankrupt now or have been bankrupt in the past – any refund would go to the Official Receiver.
- if you are in an IVA, as refunds will go to your IVA firm not to you. If your IVA has finished the refund may still be sent to your old IVA firm.
- if you are in a DRO now, getting a refund may mean your DRO is cancelled!
More help
You can ask a question in the comments below – you may get a reply from someone who has been in your exact situation.
Don’t use a claims management company. They are expensive and often incompetent. It’s easy to do this yourself and you can ask questions below and get replies from other readers who have done this.
Card & catalogue affordability complaints
Can you get an overdraft refund?
Could a Debt Relief Order help you?
Karen says
Hi
I got onto ombusman today and I was told ombusman sent a email to H&T and got a response from them they told ombusman that they can’t look at this case of mine for the loans i have with H&T with no exsplaion why the ombusman can’t look at it abit weared to me
The ombusman sent another email asking why would I have to wait for H&T to respond to them before I go any further and what could I do after this or is there something I can do now
Thank You
Karen says
Hi
Could you send me a response to this email I don’t what to do as the H&T loans or saying they don’t want the ombusman to look at these loan I have 3 loans and they been top up H&T say they was affordable at the time of me takeing them out
Thank You
Pamela says
Hi in have just started the refund process by looking at my crefit report.Ive tsken around 63 loans from 2013_2016.Do i need the full account number for each one.Only have last few digits of each.The amount of interest is terrifying!!
Sara (Debt Camel) says
Frightening isn’t it…
If you don’t have your old account numbers, the lenders will be able to trace your account if you give them your name, address, email address you used when borrowing and date of birth.
Iain says
Hi Sara
Firstly thank you for your advice a while back on my bankruptcy and changing will. I have taken all your advice and everything is working out. I have just seen this thread and looked back at my pay day loans and have a few questions.
1. My bankruptcy should be discharged in Dec. Should I wait till then to start the complaints process?
2. The loans started 6 years ago and lasted for 2 years. Most one after the other give or take a month a few from different lenders at the same time. Borrowing of peter to pay Paul so to speak. Is there a time limit that you can go back to?
3. There were 2 loans that were £4 and £5 thousand that were not payday lenders during that period. Should I include these?
4. If I was to succeed would I have to pay that money to the people who are dealing with my bankruptcy. I have to pay an amount monthly for 4 years.
Thanks in advance and good luck to all who are brave enough to get debt free. It took me years to start and life is amazing now.
Scott says
Hi Sara I’ve had lots of payday loans off a firm called ramsdens in the past am I able to send them a Subject Access Request or not many thanks
Sara (Debt Camel) says
No one has mentioned them before – I only know them as a pawnbroker. Try a complaint to complaints@ramsdensfinancial.co.uk and just ask for a list of your loans.
Joseph Burns says
I sent an email to Wonga, MyJar and Quickquid last week. I haven’t heard from MyJar or Wonga yet but Quickquid have just replied saying that they are rejecting my claim because the loans were taken outside of the complaints handling time limit (ie, more than 6 years ago) is this true or can I pursue things further? Many thanks.
Sara (Debt Camel) says
Send your complaint straight to the Financial Ombudsman. The FO thinks they can look at these older loans and several lenders have accepted this and are paying out. But not QQ or Wonga, who are still arguing with the FOS over some test cases. So send your complaint in but expect it to be very slow – but in the end you may get a great result!
Victoria says
Hi, I took out 33 loans from Wonga and paid over £3500 in interest and fees over that time. Have just been offered just over £450 for 3 of those loans so I am referring to the FOS.
I have just read that they will ask for bank statements and a cope of credit file however some of these loans are over 6 years old and I am no longer with that bank. They only keep records for 5 years after closing account so no way to get them. Will I def need these and also doesn’t my credit file only go back 6 years. Any help on this would be greatly appreciated. Thank you
Sara (Debt Camel) says
Over what period were these Wonga loans, eg 2010-2013?
Victoria says
2011 to 2017. I have my bank statements from the end of 2011. Just not the beginning
Lauren says
Hi, after reading all through the posts online I was just after an opinion…
I had a total of 40 loans between march 2015 – sept 2016 totalling an amount of £11650 with sunny. Are they easy to deal with?
Do you think I would have a successful case?
I can view all my loans online however when I click on them individually I only get shown my interest charges on my first 2 loans in 2015 so have emailed them requesting a full breakdown.
Any feedback would be greatly appreciated.
Sara (Debt Camel) says
That sounds like a lot of borrowing month after month, it will probably be a strong case!
Sunny like all the big lenders are getting a lot of complaints, so don’t expect a fast response. And if they only offer a small refund, don’t assume this is all you can get, send it to the Ombudsman. Come back here and ask if you aren’t sure! Sunny are better than some lenders at accepting an adjudicator’s decision – that’s the first stage of the Ombudsman process – so they don’t deliberately draw out cases as long as possible.
Lauren says
I also had 3-5loans from wagedayadvance and satsuma at the same time so have emailed them also. As well as provident. Will having all these loans out around the same time help my case? And is it 8 weeks from the date of my first email to them asking for the subject access, that I then take it further?
Anita says
H Sarah.
Quick update. Just received a statement of account from Mr Lender. According to this I took one loan £200. I paid £186 interest, ££17 admin fees, £157 late payment fees and still £33 outstanding with DMP..
What do you reckon
Thank you
Anita says
Hi. They also said that the loan was taken in 2016 and they are not going to investigate it further due to the time limit and it also applies to Ombudsman. What would you suggest please
Thank you
Sara (Debt Camel) says
Hi Anita, When do you think you took the loan out, does 2016 sound right? Could you copy and paste in what they send about not investigating it further due to the time limit please.
Anita says
Thank you for your advice and apologies for the mistake. Loan was taken BEFORE 2016 in 2011 hence their reply below
I spoke with them over the phone. They offered me to wipe the outstanding balance off aa good will gesture. I kindly declined not to sure if that was wise as probably due to the time limit FOS is not going to look into this.
——————————
We can confirm you have taken out one loan with Mr Lender in June 2011.
Your loan is currently outstanding and you are repaying this loan via a debt management plan. Please contact Mr Lender if you wish to discuss your account or obtain any further information.
Please note that the Financial Ombudsman Service (FOS), the independent complaints body for complaints between financial business and customers has a 6 year time limit from the date of event which you are complaining about. Mr Lender has regard to FOS time limits and our own policies when deciding whether to investigate your complaint and we are not obliged to deal with complaints that fall outside of this time limit.
We can confirm your loan with Mr Lender was taken over six years ago and therefore falls outside the time limit rules of the Financial Ombudsman Service. As a result of this we will not be investigating your complaint.
Sara (Debt Camel) says
One loan cases aren’t easy to win anyway. If this had been taken out recently it would have been worth pursuing, I don’t think this one is worth taking to the ombudsman as it is over 6 years ago and you will have trouble proving how bad your credit record was back then. Sorry, I suggest you go back and say you would like to accept their offer to wipe out the balance.
Baz says
Hi Sara, i have taken out 24 loans over 17 months. 16 of these with quickquid incl top ups and extensions. The others with myjar and wageday advance. The qq loans have been constant with the amounts increasing. I have full list of all loans but not sure on exact interest amounts. I sent qq a stage 1 SAR email a couple of days ago so i have interest details etc. Do i need to wait on this before sending stage 2 letter or should i proceed with outline details?
My wda and myjar loans are spread out over 18 months. However they were taken to pay off other pdl’s. Should they have noticed this through credit checks and may i have a case?
I was plannin on going to qq first as i feel my best case is there. Seeing how that goes and then going to other lenders. Any thoughts would be appreciated.
Thanks.
Sara (Debt Camel) says
“Do i need to wait on this before sending stage 2 letter or should i proceed with outline details?” I think you know enough to be able to write a full complaint now. You don’t need to say how large a refund you want so you don’t need the interest details. Do you have your bank statements for this period?
“Should they have noticed this through credit checks and may i have a case?” probably yes, it does depend on your finances and what your credit record would show. But I would send these complaints in now. It could take a long time to get QQ sorted out if they make you a poor offer, so what is the point in delaying?
Baz says
Sara, thanks for the reply.
I should have bank statements for the entire period as it dates back to 18 months from today. Do you recommend i send these to the lenders with the complaint. Or should i hold off and just send these to adjudicator?
I am also paying back 3 loans at this time. One from each of these lenders. If i send the complaints tomorrow, should i continue to pay off the loans as agreed. The payments due represent close to 60% of my monthly salary. What are my options without causing further damage to my credit score.
Thanks again.
Sara (Debt Camel) says
Don’t send the bank statements unless the lender asks for them.
Can you afford to repay the loans without borrowing more money in the next money? 60% of your salary sounds like a lot to me! If you can, then yes, you should pay them off. But in this case you may have difficulty winning an affordability complaint as the loans would seem to be affordable…
In practice most people can’t repay these loans without borrowing more, in which case you need to cancel the CPAs to the lenders with your bank and say in your complaint that you want an affordable payment arrangement set up. So if you think you could afford to pay £200 a month across all three loans, you divide that between the three loans so the largest gets the most. If the loans were £800, £400 and £400 you could offer £100 a month to the large loans and £50 a month to the other two.
This will result in an arrangement to pay marker on your credit record. But (a) your credit record is probably already a mess and (b) if you win the affordabilty complaint, the lender should remove the negative marks from your credit record so this will only be a temporary problem.
Greg says
Hi Sara
wonga have responded to my adjudictor’s assessment – they are prepared to uphold 16 of the loans, however they have rejected 28
They have offered me £3940 which is great, but having looked at the loans they rejected, quite a few of them ae almost identicial to the ones they have upheld
it looks like they are upholding all of the loans for £1000 but any below ( i have a few at £800 ) straight after a loan they have upheld for £1000
waiitng to speak to muy adjudcitor weather to accept or not
The assessment from the FOS was to refund 43 of the loans (that totalld around £7200 of interst includin 8%)
Any advice? – if it goes to the ombudsman do tey usually side with the adjudicator? does it take time?
obvously delighted othey are willinging to refund nealy £4000, ive come this far, dont want to miss out on another few thusand just becasue they have rejected some of the loans
many thanks
Sara (Debt Camel) says
Wonga seem to be doing this increasingly. Sometimes they are only offering £80 less than the adjudicator says, in which case it makes sense to probably accept it, even if it is annoying.
But in your case the difference between 3940 and 7200 is a lot of money!
The most common decision by an Ombudsman (a lot more than 50% of the time) is to agree with the adjudicator. The next most common decision is to make minor changes to the number of loans to be refunded. So 43 could drop to 37 – or it could go up to 50! (you didn’t say how many loans you had had from Wonga.) It is very rare for there to be a very large difference – and I have never seen a case like this in which the borrower ended up with LESS than the lender had offered.
It takes 8-12 weeks typically, a few are quicker, a few cases get held up for no clear reason.
Greg says
Thanks for the reply Sarah
I had a total of 60 loans but 10 were removed as they were over 6 years old – of the 50 remaining the adjudicator seemed that 43 of them should be refunded
Spoke to my adjudicator today and she’s said the same as you, there a good chance the Ombudsman will agree with her and worst case scenario thay’ll just take a few loans off but will be a far better outcome than what wonga have offered
GimmeMyMoney says
Hi, I’ve recently emailed two providers with details of my complaint.
I’ve not asked them for details as I have my bank statements from back then.
Both have long since been paid off and I’ve simply asked for all interest back .
40 loans with one provider and 80 with another.
I asked them to confirm receipt of the email complaint. Does the 8 weeks start from when they acknowledge or from when I sent it?
This site is brilliant btw
Sara (Debt Camel) says
When you sent it. Thanks!
Louise Dunham says
Apologies I know I have asked this before but can I have the details for the claim back interest from HMRC – the link. I cant seem to locate it.
Many thanks
Louise.
Sara (Debt Camel) says
https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
Louise Dunham says
Thank you Sara. I have completed the information on line but I also spoke to HMRC and said the tax I paid at 20 percent is correct – he said you don’t get £200 free of tax in a year? I completed he information anyway but I did not state about the £200 per year tax free as there was no where to explain this information.
Will hey automatically be aware of this and one was for his tax year.
Many thanks
Louise.
Sara (Debt Camel) says
Wait until you get a written response from HMRC then dispute it if you don’t get the £200 back. This is really is right. Other people have had these refunds.
Shannon says
Hi All,
I have sent emails to six pay day loan companies who I had various loans with a few years ago.
My question is: I no longer bank with the bank I was with at the time and I have none of the payslips either. Am I wasting my time without this information?
Thanks
Sara (Debt Camel) says
You don’t need payslips at all. You can get bank accounts from closed accounts though, most people have found this easier than they expected but it can take some time, so it’s worth starting this now.
Aggie says
Hello Shannon,
I recently started to ask for bank statements from my old bank account and it was really easy. I started off by calling the bank (HSBC in my case) and asked how I can retrieve my bank statements, the customer adviser said that I can only get bank statements for max of 6 years, and that they would have to charge me either £1 per page or a max of £10 in total. I was prepared to pay £10, however I was advised to go to any of the HSBC branches and request statements there, as they could not take the payment over the phone. When I went to the branch I approached first person I saw (it turned out to be branch manager) and I did explain I need bank statements for a closed account. He did ask for what period and I said that I need then as far back as I can go. Imagine my surprise when he requested bank statements since my account was opened in 2007. I was chuffed that he did it, the only problem was that they could request a max of 50 pages in one go and I was advised to come back the next day and request another 50 until I have all statements. When I did go back the next week ( I couldn’t do over the weekdays) I spoke to another person and he was surprised that I was advised to go to the branch when I called the bank first. So instead of going into the branch again I decided to call them again. It took about 20min in total but my request to send me the reminder of bank statements in one go was granted and I did not pay a penny of any of them.
Good luck!
tom p says
So after putting the intial complaints in and settling with QQ/PSP/WONGA/SUNNY/MYJAR/SAFETYNET credit
the other went off to the FOS
had my first case looked at by adjudicator against MrLender and he has found in my favour. So I now presume he sends it to them – they decide whether to accept or not? If they do accept what happens then? or if they reject does it go to the ombudsman?
Matt says
Hi Tom
I hope you do not mind me asking but when did you submit your complaints to the FOS?
Cheers
tom says
Hi Matt
it was approx. 10 weeks before it was picked up. I still have another 7 to be looked at
matt says
Hi Tom
17 weeks and counting for me for mine. I have had one resolved for pay day UK which took about 12.
Good luck with your other cases,
Sara (Debt Camel) says
Yes you and the Mr lender are asked to accept the adjudicator decision. If either of you refuses, the case goes to be looked at by an Ombudsman. If Mr lender accepts, you are usually asked to sign something from the FOS saying you accept and to provide your bank account details,
Marie says
Update on fos losing my statements and credit file. They have found them today and adjudicator has made a ruling already on my lending stream complaint. They have suggested lending stream refund 10 out of my 13 loans which is an excellent result if they agree. As usual they will probably take an age to get back to the fos but looking hopeful for the other refunds now. Just as i thought all was lost!
Sara (Debt Camel) says
That is two bits of very good news.
Eva says
I had lending stream agreeing with adjudicator on the deadline and payout was about 4 days
Alison says
You were lucky. They agreed with my adjudicator 9 days after deadline and I’m still waiting for payment…(32 days and counting) but every day they manage to email me threatening messages re non payment to them.
Mark says
How did you manage to get LS to pay out so quickly if I may ask? Still awaiting my refund and keep getting told it will be at some point in the next 28 days
Eva says
I just emailed them asking to confirm the refund has been made. They came back couple of hours later saying the case is closed via via. I checked my bank and it was there.
Mr D says
Hi, I put a complaint in to the Money Shop (Instant Cash Loans) about a series of loans I had between 2007 and 2011. Clearly mins-sold (I’ve had success already with Payday UK and Payday Express for the same period). I don’t know how many of the loans I had with Money Shop. They were the cash advance on cheque ones so no electronic record that I have. I’ve trawled my bank statements and identified 49 cheques banked during the period (mosy for £100 with a few for £50). However there were numerous rollovers etc so need a full account record from them to see the full picture. Got my response today saying that I only had 4 loans with Money Shop (all non upheld) and then this:
“We are aware, however, that you requested credit from a franchise store. Franchise stores were operated by limited companies that were not affiliated with Instant Cash Loans. Therefore, it will not be possible for us to complete a review of the lending you refer to in your recent emails.”
Any advice welcome as not sure where to go now. The store (Tunbridge Wells) has now closed down.
Sara (Debt Camel) says
This isn’t a problem I remember before with the Money Shop.
I suggest you send the complaint to the Ombudsman. This https://web.archive.org/web/20130420060613/http://www.topfranchise.net/wpsites-directory/money-shop/ suggests that TMS did all the administration and loan approval for franchises. Unless TMS can show that the franchise you dealt with was separately authorised by the OFT, TMS may be liable for any redress.
Mr D says
Perfect, thankyou. I’ll ask them to confirm the franchise and their authorisation status first. Might as well give them a chance to put it right themselves – will give them a deadline of a week to respond before I go to OFT. We’re well over 8 weeks since my initial complaint at this point.
Will update on progress.
Thanks for the great site & forum by the way. It’s been very helpful in my own journey. Hoping to draw a line under it all now once and for all.
Nat Garvey says
Hi there, has anyone had any luck with FOS against Savvy, Avant or Onstride?
I filed my complaints on the 30/7/18 and I’ve received final responses (rejections) from all 3 already – I’ve sent these off to the FOS. This is in addition to other payday loans that I took out at the same time.
Thanks again
Sara (Debt Camel) says
Yes to all three. More for Avant, but they are a much larger lender than the other two.
Anita says
Sorry if being thick but who is adjudicator?.
Sara (Debt Camel) says
The Ombudsman process has two stages. First a complaint is considered by someone with the job title of “an adjudicator”. If both sides accept the adjudicator’s decision, that settles the complaint. 90% of complaints are settled at this level.
If either you or the lender (or sometimes both!) reject the adjuidciator decision, the case goes to the second stage, where it is looked at by a more senior person with the title of “Ombudsman”. The Ombudsman’s decision is final. It is legally binding on the lender.
Steve says
I have had a couple of responses this week and just wondered if people had had similar….
Sunny – seem to be picking one loan to refund with no explanation on why this is, other than they should of done more checks on this. Seems to be a standard email they send out and choose a random loan to refund as my wife got the same response.
PDUK – have said they can’t make a final decision. They have admitted that they should have made more checks however unless I send them bank statements, they have said they can’t respond any further and therefore aren’t upholding the complaint??
Sara (Debt Camel) says
Sunny may just be hoping to settle some complaints cheaply by doing this.
Or they may have some complicated internal metrics that choose the loan(s) to be refunded (“has to be more than 25% of your salary and to have been taken out within a week of the previous loan ending and the previous can’t have been ended early and it has to be larger than the previous loan” … I just made that up as an example which could result in only 1 or 2 loans being picked but you have no idea why) but these are NOT the way the Ombudsman decides which loans are unaffordable.
In either event, the correct thing is to ignore their offer, it doesn’t mean you have a weak case, and send the complaint to the ombudsman.
PDUK – send them the bank statements and say you will send the complaint to the Ombudsman if you haven’t had a reply within 2 weeks.
Mark says
Steve,
I had EXACTLY the same responses from Sunny And PDUK this week. I sent PDUK my back statements (which I already had prepersed awaiting my inevitable FOS complaint :-)) and they emailed back saying “we can’t accept these as they have no identifying details”. I replied advising them that if my name, sort code, account number, my name on hundreds of transactions as well as their own loan deposits with loan ref numbers, wasn’t good enough I’ll let the FOS decide.
Russell says
Hi Sara
Can you shed some light on the amount Sunny are saying they are refunding me please?
Just a bit confused if its the 8% of the £478?
• A full refund of all interest and charges paid in respect of your loan, totalling £478.14 (you borrowed £1522.92 and repaid £2001.06)
• Simple interest at 8%, calculated on the above figure, totalling £156.19.
• The record of your loan will be removed from your credit file; we will update Equifax, Experian, and CallCredit.
• The outstanding balance of £239.95 will be written off, and the account closed down, meaning you therefore have no further liability to us. Please cancel any regular payments set up in respect of this debt, either directly or through a debt management company.
Please can I ask that you provide me with your bank account number and sort code, so I can arrange for the above payments to be processed. Once we are in receipt of these details, we will process any due payment in 3-5 business days.
Mark says
Hi,
The 8% interest is per annum, so it looks like you took the loan out just over 4yrs ago?
£478.14 X 8% = £38.25 per year interest.
Hope that helps.
Mark
Russell says
Hi Mark
I think so I guess I will just have to wait.
So tour think the refund I will receive is £156.19 not the £478.14?
Sara (Debt Camel) says
How many loans did you have with them? It sounds like 2, one of which you repaid in full that they are refunding and a later one where you still owe some money? Is that correct?
If it is, then I think they are offering to refund you £478 + £156 = £634 (possibly taking off about £30 for tax on the 8%) and also writing off the last loan.
It’s not clear if they are deleting both loans from your credit record – if this matters too you, you need to ask them to confirm this.
If you had a lot more than 2 loans, this may not be a great offer.
Jamie says
Hi Sarah,
I had seen your site and had been caught up in the cycle of payday loans from 2013-2014 with payday uk, avant credit, pounds to pocket and several others.
I took these loans out whilst having a loan against the house and a car loan.
Some of the payday loans run over month to month and I always paid back but always had to take out more to get by.
I have sent letters of the loans to all companies about 6-8 weeks ago and yet to hear a response.
Can you help and is it worth pursuing?
Kind regards Jamie
Sara (Debt Camel) says
Most lender only reply towards the end of the 8 weeks, so you should hear from them soon.
Are you still making payments to some of these lenders?
Toby says
Hi Sara,
Please can you advise if you think I have a claim on the below?
Payday UK 30/09/2010
Wonga 28/09/2010 To cover payment of Payday UK
Wonga 24/12/2010
Payday UK 11/06/2014 Loan
Uncle Buck 14/06/2014 Loan
Sara (Debt Camel) says
It depends whether the loans were unaffordable for you and whether the lender should have known this before they gave you the loan, from looking at your credit record and your application.
Single loan cases are hard to win unless there is a very clear reason why it was obvious the loan was not affordable. Cases over 6 years old are also harder to win.
Dana says
After 2 months of hearing nothing from the FOS, I rang up to find out where they were up to with my 4 complaints, I was told 2 of the complaints have yet to be be assigned to an Adjudicator, they’ve had so many complaints coming in so it’s taking a while to get through them all.
The other 2 were annoyingly on hold as 1 loan from each payday company was outside of the 6 year period, which Wonga and Quickquid are currently both disputing complaints from loans outside of the 6 year period, I told her to forget about those 2 loans as I just want a decision, I started this process in March.
downer01 says
Hi,
I took out several payday loans over a short period of time in which i was borrowing to pay another back. It had gotten to a point a could not pay any longer. I contact the creditors, ( satsuma, myjar, fernovo, sunny and wonga) with my income and expenditure form and asked for a repayment plan to be put in place. both satsuma and myjar declined my offer as they deemed it was to much and would put me into further financial hardship. Satsuma forwarded my request to the complaints team to be investigated as irresponsible lending as upon viewing my income they should never of lent to me. Myjar froze interest. Fernovo did not do any checks to see if my token offer was affordable and accepted the high amount AND added a further £165.05 charges and interest onto my account following the request for a repayment plan. Are they allowed to do this? I have just written a complaint in regards to this interest and charges and not only did they lend to me irresponsibly they are also forcing me into further debt and have given no explanation to what these are for. I was up front with my income, i never claimed that i worked and it would have been evident that within the short time i was opening and closing accounts. They would have seen this information on my credit report. Would i have a claim with these creditors for irresponsible lending?
thank you
Sara (Debt Camel) says
“Fernovo did not do any checks to see if my token offer was affordable and accepted the high amount AND added a further £165.05 charges and interest onto my account following the request for a repayment plan. Are they allowed to do this?”
Fernovo is a new name to me. How long was your loan for and what was the interest rate on it?
Lou7 says
Hi Sara,
I saw your posts about claiming some money back from the tax man. I have had a few refunds this year but I didn’t keep the email with the break down of refunds, 8% interest and what tax was paid. Can I get the info sent to me again from each company? If so, how do I go about it? Any info would be appreciated.
Sara (Debt Camel) says
Yes, go back to the lender and ask for a copy of this. Tell them why you want it.
Tom says
Hi Sara,
I’ve just had an email from quick quid saying they’ve uploaded all of my contracts to my account. I’ve just logged in and there are 9 contracts.
The first 8 are for various amounts from £100-£400, totalling £2075. Whata confusing me is that each contract states the first repayment date is 19 October 2012, and second repayment date is 16 November 2012…all of them have the same dates?
The last two are for £100, repayment dates being 21 September 2012, 19 October 2012; and £100 with one payment being due on 17auguat 2012.
I honestly can’t remember as it was a while ago, but the dates all being the same for various loans is strange ?
The two £100 loans were the first ones i had by the look of it. Contract says I signed on the following dates:
£100- 16th July 2012
£100- 25th August 2012
£100- 29th September 2012
£200- 2nd October 2012
£275- 3rd October 2012
£300- 5th October 2012
£325- 6th October 2012
£400- 7th October 2012
£475- 8th October 2012
I’m thinking they’re top ups as I can’t see them letting sign new agreements day after day, but all the contracts look as though they’re new loans with rediculous amounts of interest piled on
Sara (Debt Camel) says
That sounds confusing and probably wrong. Put in a complaint about these loans. Whilst this is going through, also set about getting your bank statements for this period – checking those shows when you received money and when you made payments.
Tom says
Ok brilliant thank you. So they need the full bank statement for that period, or do they just need the specific transactions ?
Sara (Debt Camel) says
I think you need your statements for the whole borrowing period to check what you actually paid and when.
If it goes to the Ombudsman, you will be asked for statements fro 3 months before the first borrowing to when the loans were paid off or defaulted on, so you may as well get all that lot now.
Tom says
Ok I’ll get that sorted. Currently going through all the old emails on my accounts trying to find dates and payments etc. It’s all mind boggling and a bit of a mess but it’ll feel good to get it sorted
Karen says
Hi Sara
I had some loans from provednt I put a complaint in I got £30 back is this right as I still owe over £2000
Can’t get my head around it how they come to this amound to pay back
Could you give me some advice what I do next please
Thank You
Karen
Sara (Debt Camel) says
I can’t guess why they thought £30 was right! I suggest you send your complaint to the Financial Ombudsman.
If you can’t afford the repayments on your current debt, it’s important that you get these reduced to an amount you can afford without hardship and having to borrow elsewhere. You won’t be charged extra for this. If you don’t want to talk to your agent, call the number on their website
Doing this won’t stop you making your complaint to the Ombudsman, it will just make your life easier and less stressful while the complaint goes through.
Lilly says
Hi Sara,
I am currently writing up complaints in regards to irresponsible lending. I have compiled a calendar with all borrowings and repayments, with a few months it is evident I was borrowing to repay various loans, it is also clear how I was borrowed more in such a short time of paying back another including dates when I received emails saying I could be eligible for another loan. Would this be enough evidence to help with a complaint? Thank you
Sara (Debt Camel) says
You can send that with your complaints, it does show what a trap you had got into. Most lenders though will ignore it…
To win a complaint at the Ombudsman you have to show the loans were unaffordable – your calendar of loans plus your bank statements will show that – but also that a lender should have realised this from what they knew about you.
Mark says
Hi,
I successfully won a refund against Wonga to the sum of £3500 which was quick and easy with no real hassle.
I also had a claim in against QQ which went to the Ombudsman with which they agreed, I sent the acceptance form back to the Ombudsman who acknowledged with a letter dated the 18th July stating that QQ will contact me directly to finalise the matter, the letter stated that if I had not heard from QQ arranging the refund within 4 weeks then to contact the Ombudsman again.
It’s now the 12th of August so just under 4 weeks.
I have emailed QQ twice in the past 3 weeks asking for an update but have not heard back, are they likely to take it right up to the 4 weeks the Ombudsman gave them to refund to my account or can I expect some hassle getting them to pay out.
Kind regards
Mark
tom says
Hi there,
I’ve already had a couple of emails back from payday lenders after I sent the first stage email. They have asked for al of the appropriate info and luckily I haven’t deleted any emails real in the past few years :0 its meant I’ve had to sieve through the thousands of emails I haven’t gotten rid of and find any of use.
I mentioned before that I was suffering with mental illness at the time all of my debt spiralling, and I had a few issues with gambling. Mostly because, at the time, I saw it as a potential way to get out of my debt. But it grew, and now i’m stable, with a career I love, and the realisation of my actions when I was young and unstable. Would a case be automatically dismissed if theres evidence of gambling on your bank accounts? In my opinion, if I was a lender who’d received an email from an existing customer with unpaid balances who wanted a refund and compensation; i’d find it cheeky that they’ve gambled away the money and now want it back.
This has been a burden for years, and a large worry I’ve slowly pushed to the back of my mind. But now I want to deal with it and get it sorted. I’m getting to that age where it would be useful to start saving towards a house…or at least having savings in general.
Thanks again for all the advice so far, it’s opened my eyes a little.
Sara (Debt Camel) says
Gambling makes a complaint harder if you only borrowed a few times, as the lender couldn’t see that that the loan wasn’t affordable for you. But if you kept borrowing, they should have realised something was wrong. See https://debtcamel.co.uk/gambling-payday-loan-refunds/ which looks in details at some cases involving gambling – I suggest you read a lot of the links in that article.
Gemma says
Has anyone had a negative response from FoS regarding previous cheque centre loans that have now been sold to lantern? Lantern agreed to write off the interest but that was all… I wrote to FoS and they’ve said the following
Please be aware that complaints like this would need to be directed to the lender, Cheque Centres, as they are the ones responsible for this lending decision. Unfortunately Cheque Centres are currently in administration, so while you can still make a complaint to the administrator, as they’ve told us that there isn’t any funds to settle complaints.
We wouldn’t be able to hold Lantern responsible for the lending decision of Cheque Centres as they weren’t involved in this decision and only purchased the outstanding debt.
However, even if we could look into whether the level of checks the business did was correct and found that this loan shouldn’t have been lent. It’s likely that we would come to the same outcome to what Lantern has done, and ask the business to remove any outstanding interest so only the remaining principal is left to repay.
As such please let us know how you want to proceed with your complaint, given that we’re unable to consider a complaint against Cheque Centres as they’re in administration.
I’m so confused? Please help?!
Sara (Debt Camel) says
I am sorry but if Lantern have offered to remove the interest from the loan they have, that is probably all you can get. Lantern have no responsibility for the previous loans from CC – they only bought this one defaulted loan.
Pamela says
Hi there
I sent a reply to PTP tto say I didn’t have Bank statements to hand.This is the reply Thank you for providing additional information in regards to your complaint. I am sorry that you felt the need to complain. Please be advised that without all the requested information, we may not be able to fully address your points. As a responsible company, we will do our best to review the complaint in whole with the information you did provide and will provide a full response or update as soon as possible.
Is this standard?
Thanks
Anita says
Hi Sarah
I am greaful for your all advice. Here is another question. I had credit account with most of the online shopping sites like Littlewoods, very, freeman’s, look again…
These debts were sold to the companies and I have payment arrangements with them. Can I complaint to original companies for irresponsible lending? Shall I still make arrange payments as I can hardly afford them? What is your opinion. I was already with DMP when the accounts were open.
Thank you again
Sara (Debt Camel) says
This page looks at complaint against catalogues and credit cards as these complaints are rather different: https://debtcamel.co.uk/refunds-catalogue-credit-card/. Normally it is very hard to get a decision that the original decision to give you an account was unaffordable but if they increased your credit limit a lot, that will be easier.
If you can’t afford the current payments, you need to make arrangements to pay or (which would be better) get them added into your DMP.
BUT you have had payday loans, you still have a DMP, you now have a lot of catalogue debt, you have a large overdraft that you never get out of, even on payday day… do you mind saying what your total debts add up to? Are you renting or buying?
Anita says
Total debt.. Never made a summary frankly but I think it is around £7000
I am renting.
Yes I had a limit increase. Do they do credit check? If so they should see it is very poor
Sara (Debt Camel) says
I think you should talk to your DMP firm (who is it?) about getting all your catalogue, store card and overdraft added into your DMP. And open yourself a new basic bank account with someone you don’t owe any money to, see https://debtcamel.co.uk/bank-accounts-after-bankruptcy/
Cat says
Hi Sara,
I have had a couple of payday lenders ask me for bank statements, is it best to send them or to decline and just send them to the FO if needs be. I’m confused as to why some lenders ask for statements and some don’t.
Sara (Debt Camel) says
It’s up to you. PaydayUK and Payday Express really look at the statements – they may not reach the right conclusion but they do look at them! I am not convinced some other lenders bother. It can’t harm your case to send them though, but if there is a lot you may not want to pay the copying and postage costs!
Martin W says
Feels like 1 stop forward 2 steps back today. I’ve got 5 complaints on the go (see below). I wonder if the responses are consistent to every one elses?
Quickquid – Claim rejected.
PDUK – Claim upheld, in process of refunding.
Wonga – Claim rejected. I actually thought this was my strongest case as had 39 loans in approx 18 months.
Lending Stream – Last day of their 8 weeks today but not confident.
My Jar – Last day of their 8 weeks is on Wednesday this week but not confident as their handling of my complaint has been poor. I have been unable to open the loan summaries they sent so no idea how many or how much I’m looking at.
I’ve done a little infographic showing all my loans from the very first Wonga one and is actually quite scary how quickly it snowballed. If the other companies had done any proper checks there is no way any of them would have lent me. The declines I’ve had are very insular and only seems to talk about checks in relations to themselves not looking at the wider picture. Is this true of all complaints and do the FOS look holistically???
Sara (Debt Camel) says
This all looks quite standard. A lot of complaints do have to go to the ombudsman.
The Ombudsman will look at the situation for each lender separately. They are looking for two things:
1) whether you could afford the repayments – you bank statements will show you can’t and your infographic should be a neat summary showing it.
2) whether (and when) the lender should have been able to see that the loans were not affordable, looking at your history of borrowing from them and your credit record.
So this isn’t a holistic, look at everything, but it is a rather broader approach than the lenders usually use.
Martin W says
Thanks Sara, I think I will have a problem with the bank statements though. The bank account in question is closed and was left in somewhat of a mess (with a large debt). Does the adjudicator also need the statements or just if gets to an Ombudsman???
Sara (Debt Camel) says
You will be asked for the bank statements as soon as you go to the Ombudsman. You can get statements from closed bank accounts, but it sounds more as though you abandoned yours and didn’t close it? In which case it isn’t going to disappear and will come back to bite you at some point anyway, so facing up to the problem is best. Perhaps the refund you eventually get from Lending Stream will let you clear it?
Martin W says
Sara, just to clarify do you mean the Ombudsman Service or just Ombudsman, i.e) adjudicator might not?? I think I left over a £3000 debt and money from LS if successful won’t be anywhere near that. Also didn’t think you could get bank statements going that far back?? I’m going to need over 7 years worth.
Sara (Debt Camel) says
what years were your borrowing and when did you abandon the bank account?
Martin W says
Sara, couldn’t reply to your question further down as assume too many replies but some of my loans are from 2011 and I would have ditched my bank account in 2013.
Sara (Debt Camel) says
Then you should be able to get statements back to 2011. Your bank account may even still be open – does it show as open on your credit record. does it have a default date on it?
I know asking for bank statements may feel like you are poking a sleeping lion. But the problem is, this lion is going to wake up at some point anyway in the next few years and you will be being chased by debt collectors who may go for a CCJ.
Martin W says
Hi Sarah, my bank account status shows as default/ended and an account settled date of 15/5/2015 with an entry code of C14 according to Moneysavingexpert Credit Club. Does this mean it was written off?? Or will I still get chased for it??
Sara (Debt Camel) says
I don’t know what the C14 code means – you could ask MSE about this? If I had to guess (and I don’t like doing this) your debt may have been sold to a debt collector who will contact you at some point before 2021. It is VERY unlikely that it was written off.
Martin W says
Bang on the wire I have had a reply from My Jar but only to say they need further time. Said will reply within 10 days. Is this acceptable and in the grand scheme of things does it really matter? Lending Stream replied also. Randomly accepting some loans were irresponsible and some not. Interestingly not the 2 biggest.
Sara (Debt Camel) says
it’s annoying but not really that important in the big scheme of things as you put it. I would be inclined to give them the extra 10 days, but it’s up to you. if you do, come back here and say if it was worth it?
LS – straight off to the Ombudsman!
Martin W says
Thanks again Sara. Rather interestingly when I’ve looked at LS response in more detail they have found that my 3 lowest value loans were unaffordable but my 4 much larger ones affordable. 8 weeks investigation for that!!
Sara (Debt Camel) says
I am sure that was a complete coincidence. Not.
Martin W says
An update on this. My Jar have now replied and have upheld my complaint. Unfortunately not for enough of the loans, no statutory interest and no suggestion of updating my credit file so have challenged back. Sara I think you have trained us well haha
Pamela says
Hi Have sent Step 2 letter…just not sure how to respond to PTP…..
Thanks
Dan says
TIMELINE UPDATE
QuickQuid –
Original complaint – 08/12/17
Response and escalated to FOS – 03/02/18
Adjudicator Decision – 09/05/18
Rejected by QQ and sent to Ombudsman – 29/05/18
Picked up by Ombudsman – 06/08/18
Ombudsman decision – 13/08/18
118 118 Money – (apparently handled by a different department to the payday loans)
Original Complaint – 06/02/18
Response and escalated to FOS – 03/04/18
Adjudicator Decision – 10/08/18
Nat Garvey says
Hi there Dan, can I ask what the adjudicators decision was on the 118 loan? I have sent in a complaint and was wondering if you’ve had a positive response. Appreciate your feedback.
Thanks
Dan says
Hi Nat,
I had 3 (1 original with 2 top ups) loans with them total and they rules that all interest should be refunded on the first 2 loans. He also added that I should be refunded interested paid on part of the 3rd loan that was used to pay off the 2nd. I am now waiting for 118’s response.
Dan
Nat Garvey says
Thanks Dan, I had 1 loan from them whilst having other payday loans with other companies at the same time. It’s interesting to hear other people’s experiences regarding 118 as I haven’t really seen many posts on here about FOS outcomes.
Sara (Debt Camel) says
thanks for the details! – hope the decisions were good!
Dan says
Hi Sara,
There are good replied but I am confused with my situation with 118 118 Money. The Adjudicator has ruled in my favour on 2 of the 3 loans I had with them and have asked 118 to refund interest on both of those loans + interest paid on the settlement part of my third loan.
I am basically worried that the way 118 118 money structure the loans that I will not get a true representation of the interest paid from them as it is quite confusing. I am not sure if you are aware of how they operate but I will give you an example below:
Loan 1 – £2000 – repayments made before 2nd loan was £2160.90.
Loan 2 – £1973 (£1173 used to pay loan 1 and £800 paid directly to me) – repayments made before 3rd loan was £2175
Loan 3 – £2219 (£969 used to pay loan 2 and £1250 paid directly to me)
118 in their original response to my complaint was to refund the interest paid loan 1 only which they worked out to be £160.90. However as far as I can see for loan 1 it is actually £1333.90 (£160.90+£1173)
Now if they agree with my adjudicator would I right in saying that I am entitled to a refund of:
Loan 1 – £1333.90
loan 2 – £1171 (£202 + £969)
plus any interest they have charged me on that £969?
Sara (Debt Camel) says
“However as far as I can see for loan 1 it is actually £1333.90 (£160.90+£1173)” well yes if that was the only loan being refunded. But you have then included the £1173 element in the amount you want refunded from the seond loan as well as I think which isn’t right.
If the adjudicator is saying refund 1 & 2, then I would suggest adding together the amounts you borrowed and the amounts you repaid for the two loans together, plus the 969 from the third loan plus the interest on the third loan.
I havent seen one of these before, normally it is the 2 & 3 being refunded which is simpler!
Dan says
Hi Sara,
Thanks so much for your reply. I am really keen to have a fairly accurate figure in mind before 118 come back as I feel they will come back with a very different figure. Please see a break down of payments made towards loans below:
Loan 1 amount £2000 – £2160 made in monthly payments + £1173 settlement. Total Paid = £3333
Loan 2 amount £1973 – £2175 made in monthly payments + £969 settlement. Total Paid = £3,144
So Total Interest paid across the 2 loans is £2504. This should be refunded + the interest charged on the £969. Does that look correct?
Regards,
Dan
Sara (Debt Camel) says
I still think you are double counting.
I would look at it a different way –
118 money gave you 2000 and 800 for the first and second loans = 2800 borrowed.
You paid them 2160 and 2175 = 4335
So they should refund you 4335-2800 = 1535
And they should reduce the last loan by 969 plus the interest added on that.
LO1 says
QQ have come back and upheld my complaint on the 8loans within the last 6years, but are unwilling to look at the loans prior to this (11 loans from 2009-2011, interest totalling £6500).
Does anyone know how the ombudsman has been viewing these loans over 6years? i am loathed to accept a low offer, conversely would not want another 6months of back and forth with FOS. Any thought son goign back to QQ with a request to make a “willfull gesture of payment” that pertains to the earlier loans and as such saves us both having to go via ombudsman?
Sara (Debt Camel) says
At the moment all QQ cases involving loans over 6 years are just waiting whilst QQ and the Ombudsman argue about a couple of test cases. Your complaint is unlikely to be sorted out within 6 months I am afraid, although I am optimistic there will be some movement soon.
How much have QQ offered you?
I don’t think there is any chance that QQ will agree to settle the earlier loans for a lower amount… they know that many people will just decide to accept the lower amount now and give up on the older loans :(
LO1 says
indeed Sara you’re right. Went back and suggested we meet midway-they declined
They offered £8815 which was all the interest + the taxes on the 8loans i had within the last 6 years.
Miraculous news was that this settlement came within 3weeks of my initial complaint, although i did provide bank statements and a credit report off the bat.
Frankly cannot really be bothered to wait, and the money is simply going into savings, so have now agreed to their lower figure+updating of all credit history imprints, they say i should have cleared funds within 24hrs….
Have complaints still outstanding with WDA, PDUK, MyJar and Sunny, and have sent LS to the ombudsman-Fingers crossed
on which note, the ombudsman replied via a secure email after a few days asking for a copy of LS’ final decision letter; the email was sent by an individual whose job was “mass claims handler”-is he now the adjudicator? or simply someone who does the early filtering?
Thanks for your help
BW
Sara (Debt Camel) says
As you have been offered £8,815 I am not surprised you want to just take it!
The “mass claims handler” is the person who has to try to get the bank statements from you and the case file from the lender. They are not the adjudicator, they are just getting the case ready to be looked at.
Good luck with all the other complaints!
Tom says
Hi there
When sending your bank statements can you download digital copies or do you have to print hard copies and post them ?
I can access all of my old statements via my online banking.
Nat Garvey says
Hi Tom, I have been asked for bank statements from 2 lenders (Wonga and Peachy). I emailed them statements that I downloaded from my online banking account and they have accepted them.
Thanks
Tom says
Ok brilliant thank you. I’m going to sit tonight about go though them all.
I’ve seen that the process is quite long so it’ll help a little if I have all of the required documents ready to go.
David says
Hi all
I submitted my complaint along with a subject Access request to both Payday UK and Payday Express on the 11th July. I have not received my SAR yet. From my understanding the month starts from the following day(12th). As the 12th of August was a Sunday today is the next working so should I have received it by now?
Any help appreciated
Neo says
I received my SAR from Payday UK and Payday Ex (same company) within 3 weeks. Yours should be any day now but to play safe just send them a chaser email.
Mandi Jones says
I work in DP and yes you should have received it by now. You’re also entitled to report them to the ICO now as they’ve breached GDPR and the DPA 2018, but unfortunately ICO is pretty understaffed for the amount of reports they’re getting at the moment, so you probably wouldn’t get too much action from them in an immediate fashion.
Dec says
Hi Sara,
Today (13/08) marks 8 weeks exactly since I sent in my complaints to 6 companies. Two have responded a few weeks ago but I have not heard from four of the companies at all. Its looking unlikely that any of these lenders are going to respond by the end of today as it’s already 8pm. Do I send follow up emails to them all or do I send these all to the ombudsman?
Thanks
Sara (Debt Camel) says
who are the lenders?
Dec says
Wonga, Sunny, MyJar & Lending Stream.
Sara (Debt Camel) says
I suggest phoning or emailing them all. It’s worth trying.
Eva says
Hi all. I’ve submitted my complain to FOS back in February for PDUK. I had 8 loans from 2008-jan 2013 when i finished my repayment plan with them, then 9 month break and then borrowed again Oct 2013 till late 2015. PDUK upheld the first lot but rejected the second. Now the Ombudsman is asking me for statements from 2008 and expenditure for 2008-2015? I understand for the 2013-2015 but going right back to 2008 where they upheld already? Is this normal? I said in the complaint that I am happy with the first lot upheld but would like them to consider the later lot. I also system my reasons why there was a 9 month break with them as i went elsewhere.thankyou
Sara (Debt Camel) says
There isn’t really a “normal” for this sort of situation. You could ask why you need to get the earlier statements?
James says
Just had my final response from wonga on the last day of 8 weeks.
I had 101 loans from them over 4 years, at least one every month with up to 9 in one month!! Ranging from 200 up to 1200 per loan towards the end.
They said there is no evidence of unnafordability and rejected complaint. Off the the FOS straight away but I was sure they would offer something, this is a crazy amount of loans to have with one company.
Their decisions do not make sense.
Sara (Debt Camel) says
Crazy it is. But sometimes excellent complaints get rejected. What years were the loans?
James says
They started June 2012 up to mid 2015, they did stop lending to me for a time in August 2014 – just rejected my applications all of a sudden after months of repeat borrowing.
Sara (Debt Camel) says
August 2014 will have been when the tightened up their lending criteria. Wonga habitually refuse refunds for loans after this point, but actually they were still lending without doing proper affordability checks!
I suggest you send this to the Ombudsman asap. and tell the ombudsmna you are happy to ignore any loans that were more than 6 years old – at the moment that should only be a couple and they probably are very small. If you leave these in your complaint will be MUCH slower and as you have so many later loans that doesn’t seem worth it.
In your complaint to the Ombudsman, make sure you say that that the “break” in lending wasn’t because your finances were suddenly good, it was because Wonga started turning down your applications.
Ella says
They did the same with us and the adjudicator found in our favour to the amount of 5500. Don’t give in just. Our loans were 2012 to 2014 and the small ones weren’t included in our win (less than fifty pounds). All the ones above that amount we won as it showed consistently that we had to borrow to pay back each month.
Eva says
Hi all,
does anyone know what the following means? ‘I’ve also noted that some of your loans were taken out after 28 February 2015 – this means I’ll have to consider these loans under a different reference against Instant Cash Loans Limited. This won’t impact your complaint or how I look at it.’
Thank you
Tom says
I’ve just been going through my bank statements from 2015.
As I mentioned before, I was having episodes of mental illness and spending was all over the place. I never realised how much I was paying out to some of these companies. This particular period of time was Safety Net Credit. I read an article on here featuring true cases that went to the FOS who granted cases where gambling was showing in statements because of the way SNC monitor your bank accounts. If they know what money is coming in and where it’s going, they should’ve been able to use their better judgement and not lend to someone who’s spending quite a bit with online casinos.
In certain episodes, I would spend (waste) money. It was erratic. And looking at my statements now scares me of how I used to be.
Do you think a personal statement from myself explaining some of the transactions and my mental illness at the time would help my case?
Ella says
I sent a personal statement to the ombudsman with all my claims but chose not to send it to the payday lenders as I don’t think they would have read it. It wasn’t long but enough information to know what was happening at the time and why the debt problems and the effects of it so I would, it certainly helped my claims.
Mr and Mrs C says
Morning all, has anyone had a refund from Cash Genie yet ? We have received an offer which we are happy to accept today of £766.00 plus interest but the offer has this in it…
As you are aware, Cash Genie was placed into liquidation on 5 January 2016. As you are owed funds from the Company, you are classed as an unsecured creditor and the Joint Liquidators are seeking to make payments to creditors by periodic dividends (payment runs) by cheque. I am unable at this stage to confirm when the next payment run will be and as soon as I am able to provide you with a further update I will let you know. In the meantime, your debt will continue to accrue statutory interest at 8% per annum.
Its taken 18 weeks just to get this far, I guess we are in for a longer wait…
Gary says
I had this with them they do pay out, simply have to wait. I’d give them the 28 days that you give to other creditors and then contact them with a friendly nudge.
robert says
Hi guys,
My update so far:
Mr Lender – complain rejected
PoundsToPocket – complain rejected
PayDay UK – I took all together 26 loans from them between 2011 – 2017. They requested bank statements for the loans taken between 2011 – 2013 /they are unable to determine/.
They agreed that funds were lent irresponsibly between 2013-2014 therefore a refund of £1472.36 was offered to me.
Loans between 2015 – 2017 were lent responsibly /there were only 5 of them all together/.
Does anyone know how long roughly it takes for PayDay UK to review the bank statements?
Thank,
Robert
I am still waiting for QQ reply.
Sara (Debt Camel) says
Go back to PDUK if they haven’t got back to you in 2 weeks.
Miss Jacqui's says
Hi Sarah
just like to say a big thanks for this website, it’s really been a help and wondered if you could answer this question, after eight long months I have just been made an offer via the FOS for £1,143.14 from the Money Shop the problem is I had 15 loans with them and the adjudicator ruled in my favour on 13 of them, the Money Shop came back and said they agreed I should not have been sold these loans.
Problem is I am a bit bewildered by the offer as it was so low, I have worked out that the interest for the 2008 loans came to a total of £272.00 and the interest for the loans I took in 2013 came to £964.00 according to the statement of accounts I received from the FOS I did not pay any charges, this offer sound awfully low considering some of the loans interest is over ten years old can you advise please.
I have been back to my adjudicator and she has said it’s between me and the lender to fight out.
Sara (Debt Camel) says
I suggest you say that you need a breakdown of how they have calculated the refund – which loans is it on and how has the 8% statutory interest been calculated.
Miss Jacqui's says
Thank s Sarah that’s great do I go directly to the lender, or simply send it to the Ombudsman in the mean while as the Adjudicator does not want to get involved, they did provide me with a breakdown it is as follows :
Interest and charges paid: £795.13
8% interest: £435.01
20% tax deduction: £87.00
Total redress: £1,143.14
I have a copy of the statement of accounts from the Ombudsman and the interest for both periods totals £1236.00 so will try and speak to them directly, unless you think the amount of redress sounds about right, sorry really confused by the adjudicators unwieldiness to help.
Sara (Debt Camel) says
Well it isn’t the 8% calculation that is wrong, it is the “interest and charges” line.
Has the Money Shop agreed with the adjudicator’s decision to refund 13 loans? Or have they said they disagree but are prepared to offer this amount?
Miss Jacqui's says
Thanks’ Sarah I will contact them today.
Richard Harrison says
Just had a result from FOS today they have upheld 46 out of 54 loans,money back including 8% = £2150.started my case against Wonga In March so a great result,I have passed my bank details onto Wonga for payment,how long does it normally take?.
Steve says
Richard, took mine 3 working days to reach my bank – not sure if this is the norm.
Neil Capel says
Hi Richard, nice result! When you say you started your case in March was that with Wonga or when you sent it to the FOS?
Neil
Richard harrison says
6th feb complained to Wonga,sent to FOS on 28th March.
Originally I had 54 loans between 2013-2017 interest totalling £1998.
FOS agreed on 46 loans.
christian says
Hiya,
When did you get your decision from the FOS? Was it an adjudicator or an ombudsman decision?
Did Wonga accept the decision and how long did it take for them to come back, only asking as they are approaching the deadline the adjudicator has set them!
thanks for your help
Richard harrison says
It was an adjudicator decision sent to Wonga on 2nd August,accepted by Wonga on the 9th August.i was getting worried because of the sky news story of Wonga asking for a bail out the previous Saturday.i do believe they will go bankrupt eventually.
Christian says
Thanks buddy, my adjudication agreed on quite a high sum on the 6th just awaiting wonga’s reply.
Fingers crossed to get it done sooner rather than later.
Bill says
Wonga recently offered me 2200 and said it could take up to 15 business days to reach my account. I rejected the offer so won’t be able to update on this
Steve says
Hi, I’ve just had a reply from Lending Stream saying the following:
“Our Findings
Between 13th March 2017 and 2nd May 2017, you borrowed two loans from Lending Stream with Loan IDs (XXXX and XXXX). All loans were successfully closed.Below, we highlight the affordability checks conducted on each loan which was offered to you.
Loans (XXXX and XXXX) borrowed on (13th March 2017 and 2nd May 2017) were approved based on the following affordability information and checks”
The only reason they were closed was because I ended up going on a repayment plan with them as I couldn’t afford the loans, and then only managed to pay them off with help from family members. I don’t think this is their final response, so can I push back with saying it went on a plan?
Sara (Debt Camel) says
You can do – they don’t normally listen but it’s worth a try.
Steve says
If they disagree at that point, can I then take it to the FOS?
Sara (Debt Camel) says
yes you can.
Tom says
I had an email back from Safety Net Credit today with all of my account history detailing the deposits I’ve had from them, the interest charged, and my repayments to them. These span from the 25th May 2015, and 22 June 2016. in total I borrowed £2985.91 and repaid £3056.31.
What do I do now that they have replied with all the info?
I looked over my bank statements from that period, and I was paying £195 a month for a guarantor loan, plus multiple repayments here and there to several other lenders. SNC also can se where you’re spending money and all of your bank transactions, so would have a case for irresponsible lending do you think?
Sara (Debt Camel) says
If you sent them a step 1 letter asking for the loan details, you have already started your affordability complaint. You can now follow if up with a more detailed letter – using the template in step 2 if you want, or just giving more information about what they would have seen from your bank statements and credit record. You are asking for a refund of all the interest and charges you paid – don’t say exactly how much – plus 8% statutory interest. For SNC it can be particularly useful to point out(a) recent defaults and missed payments to other debts before may 2015 when they started lending to you and (b) other credit you took out while they were lending to you, showing that you couldn’t make the repayments to them without borrowing more.
Ciara says
Hi Sara.
Thank you for all your info on this site. I’m in the process of making payday loan complaints. One that I have complained to is QQ. I’ve got an offer from them today only after 2 weeks and I hadn’t got round to retrieving old bank statements yet. I Just need some advice, they are saying that they, and ombudsman, can’t inveatigate loans more than 6 years old, is this correct? I thought not. Even though they are willing to look at mine. Also, they have added a pounds to pocket loan that I haven’t made a complaint about. If I accept their offer they expect me to never make another complaint about any loans that come under casheuro net (which includes pounds to pocket) Do you think I should forward my complaint to the ombudsman?
Many thanks Ciara
Sara (Debt Camel) says
The Ombudsman will look at loans over 6 years but at the moment QQ are disagreeing with this and QQ and the Ombudsman are arguing over a couple of test cases. So if you want the older loans included your case will be extremely slow.
I always suggest that people look what they have been offered – just the amount of interest being refunded, ignore the extra added interest – and compare it to two things. First the total interest they paid on the loans under 6 years. And second the interest they paid on the loans over 6 years.
You may decide the offer is good enough to take. Or that you will send the case to the ombudsman but speed it up by saying you are happy not to get a refund on the older than 6 year loans. Or decide that the older loans are a lot of money and you are happy to wait longer, so send the whole case to the ombudsman.
Mark says
Sara,
A question for ya…..
I have just had a result with 118118 Money (I will do a full update later), where they have agreed that the loan shouldn’t have been granted.
After interest and fees have been refunded I still have a £1400 balance.
I was making payments of £63 (via stepchange), which was paid by my partner is I receive no income at all at present.
My question is, what “rights” do 118118 Money now have I’m chasing me for the remaining balance? If I offer them £1 p/m can they refuse that as effectively we have no contract as the original contract is surely now void?
I fully intend to pay them back when I’m back in work but I’m interested to know what legal recourse they have to demand money.
Thanks,
Mark
Sara (Debt Camel) says
If you have accepted their offer, that is in full settlement of your complaint against them. The original contract has not been declared “void”. 118 Money can still take you to court for a CCJ – they may not fancy doing this because of this decision, but equally you may not fancy having to defend a case with an unfair relationship defence, which is far from simple and you would be advised to get expert help with it.
Have you offered a token payment, explaining your situation, and they have rejected it?
Is your partner still making payments to your DMP? How large are the other debts in your DMP? Are you buying or renting?
mark says
Sara,
Thanks, that makes sense.
No, I only received their (brilliant) final response letter last night, so I am sending them a £1 p/m token offer today, until I return to work. I was just interested to know what leverage they would have given them completely agreeing with my complaint.
I’ll do a full update on all my cases tonight, but that’s 1 down 11 to go!!!! :-)
Tom says
Ok brilliant thank you! I’ll get that sorted shortly
Sasha paton says
Hi juat wondered if anyone had any luck with payday uk and loans over 6years? My adjudicator has just sent them and i a letter saying he believes from my reapinse that the loans taken with them over 6 years can actually be looked at. Would love to lnow if anyone received a refund in a similar situation or my luck in getting one? My 6+ years loand have been with ombudsman since early 2017 so taken over a year so glad to see some movement.
Sara (Debt Camel) says
yes people are getting payouts from PDUK for loans over 6 years. I hope yours will be sorted soon, I’m not sure why it has taken so long, most PDUK cases are much quicker.
Sasha paton says
Thats good to know, i have about 5 complaints with ombudsman over 6 years this is the 1st to be picked up. Can i ask what happens now ombudsman has given them till the 20th to respond, do they normally make an offer at this pount or argue it?
Sara (Debt Camel) says
I’m not sure I have seen enough complaints about older loans at this point to say what usually happens, sorry. Can you come back and say?
Sasha paton says
Yes of course, i expect they will argue it i cant see them giving in too easy
Gerald says
Hi Sara.
I just have a few questions about the fos.
my claim was put in on the 2nd of April with the fos. I’ve still not received an adjudicator yet. They’ve told me they have all info for the case and just awaiting for it to be assigned an adjudicator that was around end of may. I’m still waiting with no update.
Is this normal waiting time?
My sister had taken a payday loan refund to the ombudsman in June she got a adjudicator and has been payed out since. I don’t understand why mine hasnt been sorted yet. I’ve rang them a few times for an update and I just get the same response of waiting for an adjudicator to take my case.
Is there anything you can say to them or do for them to speed up or is it just a matter of a looonnng waiting game??
Sara (Debt Camel) says
it’s right at the top end of normal, lots of cases are being picked up sooner. I suggest you start phoning them every 2 weeks about it.
Neil Capel says
i’m in the same boat, got 4 cases with the FOS, 3 put in the end of March, and the other beginning of may i think. The first 3 cases got the files back from the lenders late April beginning of May. and the last one of my cases they didn’t have the case file back when i rang up about 3 weeks ago.
Neil
Ella says
Its a long waiting game particularly if there are lots of loans included in your claim – mine has just been completed in my favour this week and it was put into the ombudsman on 5th February with all the relevant information.
Louise Dunham says
I am the same but my cases were put in all beginning (10th March) apart from one and I am still waiting for them to be assigned. I am over 5 months at the moment.
Laura says
Me too. May depend on the lender as to how quick it gets adjudicated.. complaints with QQ, LS and Sunny sent in March but still no adjudicator assigned.. nearly 6 months now for my QQ one…5 1/2 for my other two.Shop Direct (Very) was assigned in 10 weeks but adjudicator is on holiday most of August lol..just patience is needed. I ring every 2 weeks for updates..they are just so busy I think..lots of complaints..I also have had case files back for months and no loans over 6 years either..
Diane says
Mine is taking about the same time as yours, I made an excuse to ring them about 3 weeks ago and they said QQ declined loans over 6 years and asked if anyone had to contracted me to discuss this, I said no but will to drop the 2 over 6 years, still not heard anything from them
Mandi says
Hi,
I’ve pulled together most of the details on my loans that I had.
So far I have 32 loans, totalling £10k of borrowing and at least £4k of interest. These were from August 2016 to October 2017 and were across 7 different companies (Wonga, Sunny, Satsuma, Lending Stream, QuickQuid, WageDayAdvance and MyJar), with some loans having repayment terms of up to 1 month, 3 months, 6 months and 12 months. Does this make any difference to attempts to claim back the interest, or will it be looked at as a wider picture?
For example, I only took one loan with Satsuma for £600 over 6 months and one with MyJar for £1500 over 12 months, will these still be considered?
I’ve not sent the complaints off yet, I want all of my facts and figures straight first!
Thanks
Sara (Debt Camel) says
The whole picture helps to prove what a mess your finances were in. You obviously know enough to go straight to Step Two full complaint.
You need to look at each complaint to a lender separately. These are all recent loans, so they will all have been added to your credit record, so a lender should have seen the previous loans you had taken when they were deciding whether to lend to you.
I think where you only had 1 or 2 loans from a lender it is worth being very specific in your complaint about what they would have seen on your credit record. So you could add a sentence saying (obviously I am making this up!) “When I applied for a loan in March 2017, you should have seen that in the last 6 months I had missed payments to X credit card and had had a default added for Y loan. And that I had taken out 14 payday loans in the previous 8 months. This should have warned you that the loan I was asking you for was very likely to be unaffordable and you should not have given it to me.”
Miss Jacqui's says
Hi Sarah
sorry just saw your post they have said they agree with her assessment in full and final settlement.
Sara (Debt Camel) says
ok, in that case I suggest you go back to the adjudicator and say “I would like you to ask the Money Shop to list exactly which loans they are refunding and what the interest is on those loans. Because the amount they are offering does not match the interest paid on the loans your decision said should be refunded which the money have said they accept. I hope this could get this resolved quickly and without any need to waste the time of an ombudsman. If it has to go to the ombudsman I would like to ask for additional compensation for this poor complaint handling by the Money Shop.”
gillian says
hi sara can you help please I have just got a final response letter from welcome finance refusing to upheld my case it states that loans 1 to 5 can not be consided due to a legal arrangement known as the scheme of arrangement which welcome finance entered into on the 2nd of march 2011 6 to 9 loans due to be taken out just over 6 years ago and I should have been aware I could have complained before this time and ten to 12 loans because basically it says that initial loans were subjected to credit searchers additional borrowing was usually based on repayment history of earlier loans and it is possible that further credit searchers were not carried out for subsequent loans and I never missed payments but this was due to borrowing from one payday lender to repay another and I also signed the credit agreement to say I could afford the payments loans 13 to 16 were refunded from morse club with out any hassel after I provided them with my bank statements as I have already commented on this site all my payday lending over 6 lenders during this time have been upheld either by company od the ombudsman do you think it is worth sending this to the ombudsman ty
Sara (Debt Camel) says
Yes, i would send the complaint to the ombudsman and let them unpick the various reasons given for not refunding.
Dan says
Hi Sara,
I am confused with my situation with 118 118 Money. The Adjudicator has ruled in my favour on 2 of the 3 loans I had with them and have asked 118 to refund interest on both of those loans + interest paid on the settlement part of my third loan.
I am basically worried that the way 118 118 money structure the loans that I will not get a true representation of the interest paid from them as it is quite confusing. I am not sure if you are aware of how they operate but I will give you an example below:
Loan 1 – £2000 – repayments made before 2nd loan was £2160.90.
Loan 2 – £1973 (£1173 used to pay loan 1 and £800 paid directly to me) – repayments made before 3rd loan was £2175
Loan 3 – £2219 (£969 used to pay loan 2 and £1250 paid directly to me)
118 in their original response to my complaint was to refund the interest paid loan 1 only which they worked out to be £160.90. However as far as I can see for loan 1 it is actually £1333.90 (£160.90+£1173)
Now if they agree with my adjudicator would I right in saying that I am entitled to a refund of:
Loan 1 – £133.90
loan 2 – £1171 (£202 + £969)
plus any interest they have charged me on that £969?
Mark says
Dan,
In the example you set out, your total borrowing is £4050 (£2000 + £800 + £1250). So just deduct that amount from the total payments you have made (£2160.90 + £2175.00 + £????). That should give you your total refund due. Hope that helps.
Miss Jacqui's says
Thanks Sarah again for all your help, have just emailed my adjudicator and she has said she will contact the money shop and await their response with in two weeks, is correct that I should have to wait a further two weeks because of their mistake, or is this standard?
And in response to Sasha’s query about loans for Pay day UK over six years old, I started a claim with PDUK in January this year and asked them to look at any loans I may have had I only knew of one loan in 2014 but suspected there could have been more. My case was rejected and I sent to the Ombudsman who amazingly although it was only one loan upheld my case, I settled with them for £354.00 and thought this was the end of it until I started looking at my bank statements in connection to another claim, and discovered three more loans with PDUK. Luckily for me my adjudicator had not quite shut my case. Because they had not looked into my case thoroughly my adjudicator did another assessment and they have not objected to the FOS looking into these loans as they were all in 2010. Just waiting for them to agree a figure I will let you know how I get on if that helps, and good luck Sasha.
Sasha paton says
Thank you mine too were at the end of 2010 begininnjng of 2011 .
nikki mccormick says
Hi,
I sent my complaint with quickquid to the financial ombudsman who have said QQ should refund me the interest and fees plus 8% interest on the last loan I had with them.
So they have offered the following:
Interest refund – £265.50
8% Interest – £52.71
Less tax on 8% – (£10.54)
Refund due – £307.67
The interest element from the loan is correct, however they also added £24 late payment fees, should these also be refunded?
And then the 8% interest is the bit I am confused about. I took the loan on 01/05/2013 so does anyone know if this interest is correct? I went onto a DMP and the final payment for this debt was 04/04/2018 so do they calculate the 8% on when I took the loan or when it was repaid?
Thanks
Sara (Debt Camel) says
Yes you should get back the £24 late fees.
The 8% is harder to be sure, but it looks wrong – they should do the 8% separately calculation for every payment you made from 2013 to 2018. If you paid them the same amount every year, that would be about £40. If you paid them less early on and more later, it would come to less.
nikki says
Interest Payment Received 18.35 14/09/2016
Interest Payment Received 18.35 10/10/2016
Interest Payment Received 14.55 01/11/2016
Sorry I know this is long winded, so this is part of the statement I received from QQ. I made payments through stepchange from 08/04/2014 and according to the statement they allocated my payments against the interest first. The 3 above were the last 3 payments allocated against the interest. So would I need to calculate the 8% for each individual interest payment they have calculated?
It Seems right when I work it back that way so I am happy with that once they add on the £24 late payment fees.
Sara (Debt Camel) says
Yes that sounds right.