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?
Fraggles says
The FOS have ruled that QQ and P2P should do the following to put things right
• refund the interest and charges paid towards her loans with Quick Quid as the result of the top-up being applied
• refund the interest and charges paid towards her second loan with Pounds to Pocket after the final top-up was applied
• apply 8% simple interest to the total refund amount *
• remove any negative information relating to these loans from her credit file
My loans were as follows:
• loan 1: 19 February 2013 – a £1,500 loan with Pounds to Pocket
• loan 2: 6 May 2013 – a £1,150 with Pounds to Pocket
o top-up loan 1: 25 May 2013 for £90
o top-up loan 2: 18 July 2013 for £125
• loan 3: 25 May 2013 – a £250 loan with Quick Quid
o top-up loan: 19 June 2013 for £150
Can anyone tell me what that looks like in pounds and pence please?
Sara (Debt Camel) says
For the top up loans, you would get back the extra interest you paid over and above what you would have paid on the original loan. I can’t guess how much that would be but it won’t be a lot of money.
Has the adjudicator refused to include the earlier loans? If so, you may want to ask for the case to go to an Ombudsman. Loan 2 was a large loan and loan 1 was still outstanding. They should have looked closely and seen your other payday loans.
Fraggles says
Yes, the general reaponse was this
“ also explained that I didn’t think any of the checks that were carried out by CashEuroNet went far enough, think it reasonable to expect them to have asked about your normal monthly living costs and regular financial commitments before granting loans 1 and 2 (and the first top-up applied to it), increasing to them having asked if you had any outstanding short term lending commitments when you applied for loan 3 and then increasing to verification of your financial commitments before granting the final top-up on loan 2 and the top-up on loan 3.
Sara (Debt Camel) says
OK, so CEN failed on the checking, but is your adjudicator saying that they think loans 2 & 3 were affordable?
Fraggles says
I think so
Fraggles says
This is the offer QQ responded with……
The business will also remove the loan 3from your credit file.
The offer is as follows:
· Refunded interest and charges QuickQuid loan top up: £200.00
· Interest at 8% simple: £88.60
· 20% tax withholding on interest: £17.72
· Amount paid to : £270.88
Fraggles says
We you consider the above offer to include both qq and p2p?
The adjucator refused to include loan 2. Is there any point sending to the next stage? I was under the impression that they rarely over turn?
Sara (Debt Camel) says
An ombudsman normally agrees with an adjudicator because the adjudicator made a good decision. If you feel you can argue that your bank statements show that loans 2 & 3 were NOT affordable, you need to write that out, send it to the adjudicator and ask for the case to go to an ombudsman.
alana says
My complaint went to an ombudsman and went in PDUK favour. i signed the acceptance form and they have 28 days to send the redress.
the 28 days was up monday and i havnt heard anything back still. i have tried for the last three days to get through to them and after being on hold for an hour all three days i am not sure what to do. i have contacted fos and they said they will reach out to them and come back when they have a reply.
is this normal for pduk? will there be repocutions to them for not paying in time despite the legal document?
Josh says
Check your Junk mail box. Mine was waiting in there!
alana black says
it is defenetly not there.
the confirmed bank details the very first day.. but i still have had no funds. i thought it was a binding contract.
tom p says
Hi
Keep ringing them – im at 21 days at the moment and I am ringing them every 2 days
Sara (Debt Camel) says
They will pay up. I suggest you talk to FOS again on Monday if it still hasn’t been paid.
Siobhan says
Hi Sara, I have received this from SNC, after they offered to refund the small amount of interest, but refused to write off the balance. Is this correct? Thank you for your recent contact.
We would like to advise you that the offer we have made is in line with what the Financial Ombudsman Service suggest when they find in favour of a complainant.
As the amount of interest you have paid is a lesser amount than the principal balance owed this would leave an amount payable as you have been in direct receipt of these funds.
The only circumstances where a refund would be due is if the amount of interest paid is a higher amount than the principal balance.
This is because the FOS suggest that both the customer and the lender are put into the same position as they would have been had the credit not been offered.
Therefore we our offer is in line with these suggestions
Sara (Debt Camel) says
Is it correct that across all the months you borrowed from SNC, you have borrowed more than you have so far repaid?
siobhan says
Yes, that is correct. I wanted the balance written off which is around £400.00, as my argument was they had access to my Bank account and should not have lent me the money, when they could see all the other debt payments going out
Sara (Debt Camel) says
Then SNC is correct that what they have offered is what the Ombudsman would normally say.
They should remove any negative marks from your credit record and also let you repay the balance in affordable monthly instalments.
Siobhan says
Many thanks Sara
DD says
Hi,
I’ve had a reply from the adjudicator regarding my complaint with QuickQuid and just looking for some advice/thoughts on their comments,
refund all interest and charges that Mr X paid on loan five
remove any interest and charges from the outstanding balance
offset any redress against the outstanding balance (less interest and charges) and pay any amount remaining to Mr X
pay interest of 8% simple a year on all refunds from the date of payment to the date of settlement*; the number of loans taken from loan five means any information recorded about them is adverse. So all entries about loan five should be removed from Mr X’ credit file
The loan in reference is still ongoing with a top up loan taken on top of that so I’d like to know if the loan and five and top of loan five is included in the adjudicators comments? Also, not quite sure what each comment actually means? In particular, “offset any redress”.
Do I still need to make payments, less of the interest etc? Any thoughts welcome.
D
Sara (Debt Camel) says
The top up of loan 5 will usually be included here but this is worth double checking with your adjudicator.
How much did you borrow for loan 5? and how large was the top-up? How much have you paid to it (the loan and the top up) so far?
I assume this is the last loan – there was no loan 6. Are you happy with the offer, ie loan 4 or earlier loans no being included?
DD says
Thanks. I’ll ask adjudicator if top up is included. Loan 5 was £500 and top up which I got the day after was £450. I think I’ve paid around £780 back so far. I think I pay the interest first before the loan amount?
No loan 6. I think the reason for not being loans 1-4 is fair enough. Although I would say as I was borrowing from other lenders in parallel to QuickQuid at the same time I would query.
On another note, I got an email from QuickQuid a couple of weeks ago advising my complaint with FOS had been resolved on the 2nd of November 2018 and I should commence payments again. This was clearly untrue as it’s only today I’ve heard from the adjudicator. I think that was QQ trying to get me to pay off and ignore the complaint with FOS!
Sara (Debt Camel) says
Assuming it is a refund of loan 5 & top-up. then you just have to repay 500 + 450 = 950. If you have already repaid 780, that means you have another £170 to repay. So you won’t have paid any interest on the loan or top-up.
QQ should accept a reasonable offer of monthly repayments for the remaining £170.
C says
Afternoon all
I had my penultimate decision today for my refunds. THL (total home loans) have agreed to pay back interest on all loans apart from loans 1&2, plus 8% and removal of history from my credit file.
THL had slightly different t&c’s to the others apparently, hence it being worked on since May 2018, but the outcome was still the same because of the irresponsible and unaffordable lending.
last one to get over the line is quick quid, but here is the break down of refunds so far. incredible to think of the bad times I was in !!!!!!!!!!
1. My Jar £4452.63
2. THL £2052.88
3. Money Shop £3174.14
4. Mr Lender £6216.70
5. PDUK £5652.49
6. PD Express £7809.15
7. Wage Day Advance £536.08
8. Sunny £1570.12
9. Quick Quid (Expected to be over £12’000 currently awaiting ombudsman’s appraisal of adjudicator decision)
Total so far £31’464.19 (looking forward to QQ being sorted and taking the total over the £40k point ;-)
thank you and well done to everyone on here for all your support for each other, although we’ve been through some dark times, we’re on a journey out of those dark times.
Stay positive and keep supporting each other.
C
James says
I have only just been made aware of this and I am only just beginning my procedure of chasing this up.
I used wonga, quickquid, sunny, myjar and wage day advance and probably a few others.
I have to far only sent emails to these requesting details of my loans etc.
I believe I was using these for over 2 year and mostly rolling over and borrowing from Peter to pay Paul visa versa.
I also received a personal loan from Halifax and they continued with ease to increase my overdraft.
I believe Halifax also offered me unaffordable loans and a overdraft which I was paying fees
on. They were fully aware of my bank statements and the payments to and from these payday lenders before they offered me a loan.
Go I have any case with these.
I no longer have a bank account with Halifax. I opened up a new bank account with a different bank to get out of the paydayloan trap and the spiralling debt.
I owe about £7000 still.
I’m currently paying a CCJ regarding my overdraft which is currently at about £2000
All my other debt has been passed onto debt collectors/agencys.
My personal loan which remains at about £1500 has only just been passed over to a debt collection agency.
The rest of my debt I still owe to payday lenders.
Id appreciate any advice but I am questioning if I have some sort of case against Halifax???
I will have to get in touch with them at somepoint to chase up bank statements over the period of about 2014-2017 when I was using payday loans
Sara (Debt Camel) says
“I used wonga, quickquid, sunny, myjar and wage day advance and probably a few others. I have to far only sent emails to these requesting details of my loans etc.” For Wonga and Wageday Advance, you don’t need a list of your loans, the firms are in administration, all you need to do is send a short email to the lender, see https://debtcamel.co.uk/wonga-has-stopped-issuing-loans/ and https://debtcamel.co.uk/wageday-advance-wda-administration-sale-morses-club/.
“I also received a personal loan from Halifax and they continued with ease to increase my overdraft.” when was this loan and the overdraft increases?
Joseph says
So the day has finally come!! I had loans 3-9 upheld with QQ for an amount of £2,750.52 and loans 2 and 3-9 upheld with Satsuma for £1,393.27 so in total £4,143.43 and they’re still working on my Lending stream one for 2,900, which she has indicated the same result, so in total £7,043.49!! Very happy!! Sara thank you again for all your help, for everyone else waiting just hang in there we’re all in the same boat! You’ll get there in the end!
Sara (Debt Camel) says
I think these are adjudicator decisions – fingers crossed QQ and Satsuma accept the decisions.
Katie says
Wow!! Well done and congrats!!
GM says
How old were all the QQ loans?
Joseph says
2015-2018 GM
Laurence says
GM how you getting on with your PDUK case? I’ve got an adjudicator now at the FOS and found in my favour for pretty much all my loans, PDUK need to come back by tomorrow (which I’m certain they won’t) at least finally feels like this one may be coming to an end
GM says
Hi Laurence.
I called them last week and they said it was still with the jurisdiction team waiting for a decision whether to look or not at the over 6 year loans (which was all of them actually). I only submited to the FOs on 29/11, so less than 4 months.
When did you submit to the FOS?
Laurence says
Hi GM, I submitted early November so hopefully you haven’t got long to wait. Adjudicator has agreed on loans over 6 years for me (some are 10+ years)
Hoping for good news today, but we know what PDUK are like at responding to deadlines…. Will keep you posted
GM says
Ok, that makes sense. Good luck!
GM says
Hi Laurence, how’s thing at your end? Nothing new with my case yet… still no adjudicator!
Shane says
Hi Sara,
Do you know if anyone has had any luck with obtaining refunds from Cash Generator please? I took out numerous loans at the Chorley Branch which is now closed. I sent a complaint to the Cash Generator Head Office and received this reply:-
Cash Generator has never issued loans directly. Any loans taken out from the Chorley store would have been issued by the franchise owner’s company directly.
Does it sound like I’m struggling with this one?
Many thanks,
Shan
Sara (Debt Camel) says
Sorry, I suggest you talk to the Ombudsman about your options.
Ross says
Hi Sara
I’ve had a complaint against Satsuma rejected by both the FOS adjudicator and subsequently the FOS ombudsman.
I take it when this happens that’s it?
Sara (Debt Camel) says
Realistically, yes, that’s the end. You have the right to go to court, but I suggest you should take legal advice before considering doing that.
Scott says
Hi Ross,
How many loans did you have and what were the value of them?
I am waiting on my complaint being assigned since September, I had 6 loans ranging from £100 to £1000 in the space of 7 months.
Scott
Ross says
Hi Scott,
Three loans about £750 each.
FOS have sided with the lender but hopefully you have better luck.
Ross says
Thanks for the advice, just need to hope the other complaints are stronger cases.
Phil says
Does anyone have any experience of how long it takes for sunny, myjar and satsuma to come back with Loan detail?
Have sent step 1 email on 26th Feb, also a follow up email to chase that I have requested all loan information but as yet all I’ve had is that my complaint has been acknowledged but no further info.
Given dealings I’ve had with QQ where they sent me a final decision before giving me the chance to put my case across properly as they didn’t send me detail until after I’m a little nervous it will happen again!
All other lenders have sent info in a timely manner and going through the steps happily. Are these lenders renowned for being awkward?
Lisa says
Hi I asked sunny for details of loans at the beginning of February. Even though I chased them every 2 weeks I didn’t get a response. I decided to send in the complaint without the details and I got a response within 48 hours saying someone is now dealing with my complaint. I still haven’t had a statement of account . I logged into my sunny account it only shows 1 loan and the rest seem to have disappeared. Will be interested to see what there response is.
Phil says
Thanks for this Lisa, seems like these guys don’t want to send the info over!
I want to have the information to give them a chance to at least look at the complaint properly. Ideally I’d want them resolved without the need to go to FOS but I’ve got a feeling that’s the route I’ll have to go down.
John says
Anyone have the link to try claiming tax back on a redress?? Still waiting on PDUK to payout grand total sum of £2347 with tax of £152.28 ??
Sara (Debt Camel) says
https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
A says
I have begun my complaint against peachy and they have asked to provide
Copies of bank statements, wage slips and any supporting documentation.
Would anyone recommend sending this information. I do not feel comfortable providing wage slips. Statements I can. At this stage shall I provide this ?
Can anyone provide any advice ?
Sara (Debt Camel) says
You don’t have to send this if you don’t want. I don’t know if Peachy will be more likely to make you a better offer if you do.
If you send statements, your income will show there so there is no need to send pay slips. It is also a good idea to send a copy of your Noddle credit report if you had a lot of borrowing from other lenders.
A says
Hi Sarah
Thank you for your reply.
I have downloaded my full noddle credit report – shall I send the report in full or just credit searches from the timebI held the loans ?
Sara (Debt Camel) says
I would send the lot.
Chris says
I sent Ferratum copy bank statements to support my claim. Their response to my complaint was that they disagreed that they had lent to me irresponsibly.
But as a gesture of goodwill, they cleared the outstanding balance of £1149 and issued £250 to my bank account (cleared same day).
By sending them copy statements they could see how many loans I had with them, and other lenders and that these were unaffordable. If they disagreed with my complaint, then why did they settle so easily?
I would say Ferratum have been the best to deal with so far…….
Cashfloat is with FOS
Mr Lender settled outstanding balance
Awaiting outcome of complaints with LS, Peachy, Uncle Buck, 247moneybox, fingers crossed
Neil says
Ferratum disagreed with my complaint . I had already paid them off so there was not a balance to clear for me . However they did offer me a goodwill gesture of £500 and I tried to negotiate for a higher amount . After I did this they withdraw their goodwill offer and told me they would abide by whatever decision the FOS make.
The interest on 40 plus loans must have been at least £2,500.
So I will wait , been with the FOS since late October 2018
Carrie says
Hi everyone
Just to let you know Oakam have upheld my complaint and wiped all interest off my loan so I’ve only got to pay the the amount borrowed back. They have been one of the easiest companies to deal with. They said that they completed all of the correct steps in checking the affordability of my loan but they will remove all interest despite this. Keep going people and good luck everyone!
Loz says
Hi Sara – hope you’re well,
I have had a response from sunny today – just after your advice please. I had 21 loans with them from march 16 until may 17.
the response is: Based on the income and expenditure you provided In relation to the expenditure info on the loan summary sheet, where the value in the relevant column shows ‘0’ this means you didn’t declare no expenditure information.
Whilst we can see you held a HCSTC balance for more than 12 months but less than 18 months, which you may have been using our products for long term borrowing needs. In these circumstances, we agree to partially up hold your complaint:
from 20th loan onward’s £100.59. Interest 8% – £16.06, plus amend my credit file by removing all loans from 20th on wards.
if there is any further info that has not yet been made available to us that should be considered or contradicts our decision, please send this to us. Not quite sure what they mean by 12 months but less than 18? also, they haven’t said this is the final decision.
I don’t remember what i put on the application to them regarding my expenditure as I had about 6 other pay day loans with other lenders at the time, all showing on my credit report. Do you have any advice for me to respond to this please?
Thanks Sara
Sara (Debt Camel) says
If you borrowed from Mar16 to May 17, that is 14 months. My guess is they have put this through some sort of automatic tool that won’t give refunds if someone has borrowed for less than 12 months, gives poor ones if they have boorwed for between 12 and 18 months (like you) and giver larger refunds if they have borrowed for more than 18 months.
That seems like a very crude approach. I would say that 21 loans over that period is a LOT. So many that Sunny should have done more detailed checks quite a way before the 20th loan.
Do you have your bank statements? If you do, I suggest you reply to sunny enclosing those. Also enclose a copy of your credit record if you have been borrowing from other lenders. And tell Sunny that you don’t think their response takes account of the long chain of borrowing and you will be sending the case to the Ombudsman unless they significantly improve their offer.
Loz says
Thank you Sara for your advice.
How long should i give them to respond to this before I send this to FOS? I will send them my credit report, however I only have hard copies of my bank statements, shall I offer them these at this stage or just reply that i will send them to the FOS if necessary?
Many thanks for your reply :-)
Sara (Debt Camel) says
I wouldn’t post a lot of bank statements, this is a long shot, Sunny don’t usually negotiate. How long has it been since you sent them the complaint?
Loz says
Hi Sara,
again thank you for getting back to me. It would be 8 weeks today that the time was up, they got back to me just yesterday.
I’m just wondering how long should i now give for them to respond? also, I have asked twice for a summary of borrowing to them, they sent it me yesterday but this is unreadable! i’m unable to download this information. I will obviously mention this again today when i send my response. I had to get the info from my bank statements.
Many Thanks
gillian says
hi sara mr lender had until the 7th of march to reply to the adjudicater who upheld my claim for loans 2 and 3 6 and 7 but not 4 and 5 due to the fact there was a 7 month break between taking 3 and taking 4 I was happy with this as after adding the 8 percent intrest that would have been about all the intrest I had paid over all the loans these were 2014 to 2017 loans they did not reply so the adjudicater has given them till the 20th of march then said he will send it to ombudsman if they agree I am happy but wondering if they do not reply and it goes to ombudsman could I ask for loans 4 and 5 to be looked at again because the only reason I was not borrowing from them in this period was I borrowed from sunny and I had 12 loans with sunny and 6 with wage day advance in that time before reappling with mister lender all these show on my noodels report and all were refunded when I claimed against these companies thank you again
Sara (Debt Camel) says
Yes, if this goes to the Ombudsman you should ask for 4 & 5 to be taken into account.
If you really want this sorted now, you could leave Mr Lender a poor trust pilot review here saying that they haven’t replied to the Ombudsman in the given time which is poor complaint handling. https://uk.trustpilot.com/review/mrlender.com – that may prompt them to reply to the adjudicator.
Erica says
Phoned for an update with TMS and they said that my Final Response Letter has been completed and that it is at the ‘Quality Checking’ stage wherein another team needs to make sure that everything written in the letter is correct. They did not say when I would get the letter.
It has been 6 weeks so they have 2 more weeks before I am able to pass on to FOS but hopefully I would have heard from them before I get to this stage.
Lisa says
Hi just a bit of advice please. I have had a final response from TMS saying that 18 loans have been identified as irresponsible lending and 3 loans they need more info, bank statements which I will go to bank to ask for. However they have stipulated that I was getting loans from 2007 to 2015 but have only looked at loans from 2013 onwards. They have said they need confirmation of why I didn’t complain before now. Is it sufficient to confirm that I didn’t know until now that I could complain? As I wasn’t aware until I came across this site!! As this is the truth!! Or do I refer to Ombudsman? Also at the end of final response letter it says for payout to confirm that I am happy with final response letter. Should I not sign this until a decision has been made regarding extra bank statement and previous loans over 6 years? Thanks in advance
Sara (Debt Camel) says
So your 18 loans are after 2013? and there were a lot more before that?
” Is it sufficient to confirm that I didn’t know until now that I could complain? ” yes – but I suggest you add some more details to describe exactly what happened to you. Something like:
“When I was borrowing, I didn’t realise a lender has a duty to check the loans are affordable, so I didn’t realise that I could complain. I found out what unaffordable lending meant when I saw an advert on Facebook by a claims company in October. The over Christmas I had some time to research this and then I sent you the complaint. I understand that the Ombudsman will say this can be looked at as because I have complained within 3 years of finding out that a complaint was possible.”
Don’t just copy that, change it so it really says what happened – there are no wrong answers here, a friend may have told you or your mum or you could have seen a newspaper article.
You can’t accept the offer on the 18 loans and later take a complaint about the older loans to the Ombudsman. I am afraid you have to decide:
– accept the offer and ask TMS to look at the older loans but not be able to go to FOS if they don’t make you a reasonable offer on them OR
– send them the extra bank statements and ask them to look at the older loans OR
– send your whole case to FOS immediately.
Lisa says
Hi
Thanks for reply – i put the complaint in after I saw your website. I was doing a PPI complaint for a credit card I had many years ago and came across your website! WhenI put in the complaint a few weeks later TMS sent me a ZIP file protected info – i called to ask what it was and they confirmed they didn’t know, I realised it was then SAR info that they meant to send to the claims department so i have a whole history of what loans i had from 2007. In the complaint they have stipulated that I have loans from April 2007 to April 2015 but have held up 13 loans from January 2013 to April 2014, then from September 2014 to April 2015 they have said there re 3 loans unable to determine. They have then asked for bank statement for August and December 2014 however they have said if i can provide more statements it will assist with review of loans. So – do i send the completed offer letter back to them, along with the bank statements and also ask to look at previous loans from 2007?? They have also said that they will remove any negative account on my credit history. Again thanks in advance
Sara (Debt Camel) says
If you send the completed letter back to them, you then CAN’T send the older loans to FOS.
So you have to choose one of these three options:
1) accept this and give up on the older loans?
2) tell them why you have only just complained and ask them to look at the older loans and then send it to FOS if they don’t make a good offer
3) send the whole case to FOS immediately.
So how large is the refund they have offered and do you think that’s OK as you will get it quickly, or do you think its inadequate?
Lisa says
Hi Sara
Just another question, when i have looked at the SAR requests the loans have actually started in 2002 not 2007 as noted on final response??
Sara (Debt Camel) says
You won’t get a refund for loans before 2007. The Ombudsman can’t look at these.
Lisa says
Hi, thank u for the advice. I have been offered £1490 from jan 13 which 6 years from when I sent in the email.
Alice Cowan says
I sent a request for a list of loans to lending stream back in July 2018. It escaped me to check for a response amongst the list of lenders the same request was sent to.
Is it late to refer this matter to FOS please?
Sara (Debt Camel) says
You have 8 weeks from their Final Response … if you haven’t had one, then it’s not too late.
Loz says
Hi Sara,
sorry to ask you again for advice, after waiting 8 weeks for a response from Sunny they are only paying out 1 loan. I am going to reply with further info.
I just wanted to know how long should i give them to reply back to me to ask them to improve their offer before i send (or if i need to) to the FOS please?
Thanks
Sara (Debt Camel) says
It’s up to you. But they don’t usually improve an offer so perhaps a week?
Loz says
Thank you kindly. I’m not raising my hopes up – but god loves a trier :-)
James says
Good morning
Back in Sept 18 I started an affordability complaint with PDUK for 21 loans dating back from 2010 to 2014.
I was expecting to have to go to the FCO but yesterday received an email stating they have found the first 2 loans to be affordable.
The following 11 – unable to determine and have requested bank statements.
The final 8 – Upheld my complaint. Will refund plus 8% plain interest and remove negative comments from my credit file.
I really wasn’t expecting this response but it’s such a huge relief.
I’m unsure if I accept their offer at this point or send in the bank statements for the undetermined loans?
I don’t want to be agreeing to a full and final settlement with 11 still outstanding.
Thanks for all the great advice on here
Sara (Debt Camel) says
PDUK do actually look at bank statements and make revised offers in this situation so it’s well worth sending them in.
You do NOT want to accept their offer at this point. If you do, they will still look at your bank statements and may improve the offer but you won’t be able to go to FOS if you don’t think they have improved it “enough”.
So send the statements in and consider the offer as a whole when they get back to you. But it is a relief to have a refund offered on the last 8 even if you can’t get it in your bank at the moment.
Gill says
Sara,
Second adjudicator decision received, not upheld my complaint about Lending Stream because I had declared enough disposable income at the time. I don’t have all my bank statements but I do have some during that period which I’ve said are typical ( have tried multiple times to get all statements from co-op but they have been useless even with SAR)
Just 3 loans with LS but last one was not paid off went to third party company and eventually paid. I know it’s difficult to win 3 loan cases but a different adjudicator found in my favour with the last of 3 loans with Peachy and used evidence of multiple lenders as unaffordability argument.
What are my chances of winning it by appealing to Ombudsman?
Hoping for an easier route with eg Quick Quid where I had about 40 loans/deferalls/draw downs in just over a year.
Thank you!
Sara (Debt Camel) says
The LS loans, how large was each loan? What were the gaps between the loans – the time from repaying loan 1 to taking loan 2? The time from repaying loan 2 to taking loan 3?
QQ case definitely easier, but that doesn’t mean it’s not worth taking the LS one to the Ombudsman.
Mark says
Sara,
I complained to Sunny about 8 loans.
Sunny agreed loan 1 was against policy and as not affordable, it shouldn’t have been lent, so offered the usual (refund and deletion). They rejected loans 2-8. I didn’t accept, instead sent complaint to FOS.
FOS upheld loans 5-8. Ignored loan 1 as Sunny had already offered refund.
Sunny then responded to FOS conclusion letter withdrawing offer for loan 1.
FOS then re investigated and agreed Sunny could withdraw their offer and FOS said only loans 5-8 should be refunded.
My question is this: I now intend to reject the adjudicators decision as I want loan 1 added to the refund (about £300). On what basis can I do this? Is it ok to just say something like “Sunny already upheld my complaint regarding loan 1, so it is unfair that they are allowed to withdraw their offer when they have already conceded the loan clearly shouldn’t have been lent?”
It seems bizarre that the FOS would allow Sunny to send me a FRL upholding my complaint on loan 1 but then not offer any redress!?!?
Mark says
…..I would completely understand and agree with Sunny’s right to withdraw the offer if they had rejected my complaint in its entirety but offered a ‘goodwill gesture’, but their FRL clearly states they were wrong to lend loan 1. (Sara, as I know you like your brilliantly accurate ‘driving test/speeding ticket’ analogy :-P)…..It feels like this is a case of the prosecution (me) accusing the defendant (Sunny), of a crime. The defendant pleads guilty only for the judge (FOS), to step in and say ‘No! I don’t think you did it!”
Sara (Debt Camel) says
Is this a response from an adjudicator or an Ombudsman?
Mark says
Adjudicator.
I am currently waiting for Sunny to agree/disagree with her conclusion letter, but as I say, once that is done I fully intend to attempt to get loan 1 added to the refunds.
Thanks, Mark
Tom says
This was very quick safety net refused straight away in December but I think this is a very good outcome.
To resolve your complaint Safety Net Credit has offered to refund all the interest you paid, plus pay 8% interest on top of the refunded amounts. Safety Net Credit said it will remove all interest that accrued on your account but hadn’t yet been paid.
Safety Net Credit will waive £60 in interest that has been charged to your account, but you’ve not yet paid. Safety Net Credit said in total you’ve paid £577.67 in interest. 8% on this amount is £236.68, for a total of £814.35. Safety Net Credit is required by HMRC to deduct 20%, or £47.34 from the interest payment, leaving a refundable interest amount of £767.01.
Because you have an outstanding principal balance of £150, this will be deducted from the refunded interest payment, leaving an amount to be paid to you of about £617.01
Sara (Debt Camel) says
This was a new offer that SNC made when your case was at FOS before it was looked at by an adjudicator? Or was it an adjudicator decision?
Tom says
This was an adjudicator decision, pretty quick for it to be picked up and come back in a few months though
Susie says
One more question sorry.
In 2014 wonga cleared my outstanding loan with them after they went bust and said they shouldn’t have lend me. I was wondering if at that time they should have also refund interest paid for the loans or not? They said I was one of the affected so would that mean they shouldn’t have allowed me to borrow? I am just checking and wondering if this is something I should look into? I know wonga still exists as they allowed me to borrow again from them few years later. Thank you
Sara (Debt Camel) says
You may have a case for your earlier borrowing or your later borrowing or both.
The bad news is that you may get little back from Wonga as they went into administration last year. The good news is that it is extremely easy – just a very short email – to send them a complaint to get your name added to the list to be considered for refunds and you won’t have to do anything more. So you may as well give it a go! See https://debtcamel.co.uk/wonga-has-stopped-issuing-loans/ for what to do as you do not follow the normal payday loan refund process for Wonga.
Susie says
Hi and thank you. I posted on the wonga forum. I’m hoping they will refund the interest. I still have 1 loan open with them. Thanks a lot for all your advice.
Regarding QQ although it was 1 Flexi loan I took them out over a year and all together must have taken out at least 20 loans even tho it’s just from one pot if that makes sense. Not sure if they will agree. But looking at the loans I had many others like sunny and wonga so I’m hoping. Thank you
Nicki says
Hi there,
this page has been extremely useful, so firstly thankyou!
My question is, unfortunately I fell into the payday loan trap after problem debt with gambling (which I have now kicked and self-excluded after seeing the light!).
In order to pay off the remainder of my debts I have had to enter a DMP with Stepchange who have been very helpful.
My questions is one of my debts was with SafetyNet Credit who continually borrowed to me even though they could see my gambling transactions…would I be able to complain to them whilst on a DMP where SafetyNet is one of my creditors? If so would I just follow with the letter format on here? The interest I have worked out I have paid them to be a total of £2485.73 over 15 months and I owe the £1300 through the DMP. (Apologies if you have already answered similar questions before).
Sara (Debt Camel) says
Yes, you can complain about a lender where the balance you owe is in a DMP. that applies to all lenders, not just SNC. Complaining won’t affect your D
Loz says
Hi Sara,
Whilst I have a on going complaint for irresponsible lending with UB my last loan is still outstanding, I borrowed £225, I did make one payment of £75 however, I am now unable to make any further payments of this amount so I have now set up a arrangement plan with them of £25.
They have stated that the total amount now owing in £361.00! so they are continuing to add the interest on, can they do this whilst I have a ongoing complaint for irresponsible lending? I explained about my financial difficulty – I was under the impression that the interest would of been frozen so the outstanding balance would be £150 minus what I’ve paid.??
any advice please to get the interest frozen or shall I just wait to see the outcome of my complaint?
Thanks Sara
Sara (Debt Camel) says
Sorry I missed your comment.
If you win the complaint about unaffordable lending, all the interest will be removed.
Have you asked them to freeze interest? If they don’t, they will very soon hit the “interest rate cap” – they can’t charge more than £225 in interest and charges as that was the amount you borrowed.
GM says
Hi. I complained to 247 Moneybox over a few loans, but they rejected them as they claimed they did the proper checks. They were small one month loans, so I kinda expected the outcome. However, they said they would remove the information from credit reference agencies as a gesture of goodwill.
It’s been nearly 5 months since they promised it and I already complained to them twice that the information still hasn’t been deleted. They claim they did, so they’re asking me to inform the CRA’s and complain to them. I think this is BS as the two agencies only show the information they get.
If i dont get a satisfying outcome, can i still complain to the FOS? I left a bad review on trustpilot, but nothing happened.
Sara (Debt Camel) says
I suggest you send the complaint to FOS asap as this needs to be within 6 months of the Final response. If it isn’t, you would have to put in a new complaint to 247 Moneybox.
B says
So they did exactly the same to me, 7 months ago settled a complaint with them internally, they initially told me they had actioned the credit entry removal there end, then said I had to dispute them myself, then kept claiming they were in talks with Noddle to resolve the “technica issue” in the mean-time, I complained to the FOS who were in touch last week to ask me to send them my credit file so they can understand the impact the delay has had. Entries finally removed last week (7 months later) and progressed the complaint with FOS anyway due to how poorly they’ve managed this situation
GM says
Have you asked for some sort of financial compensation? I hope they do!
B says
Yes I have, mainly because I settled for £500 less than interest I paid providing they removed the entries immediately as I was in the process of trying to get a mortgage. If nothing comes of it, this ghastly company will occur a £550 anyway to hopfully make them realise they cannot keep up their appalling customer service
Phil says
First positive result for me from SafetyNet credit! They’ve agreed my complaint was valid and refunding all interest +8%.
I only submitted the complaint on Feb 26th.
Positive news, firstly thank you Sara for your help.
Secondly, stick at it guys! I’ve had a blanket rejection by quick quid for what I felt was a stronger case but have won this one. Definitely worth doing, there’s light at the end of the tunnel!
Shane says
Hi Sara a bit of advice please. I made a complaint to Pay Day UK regarding irresponsible lending. I’ve received back a reply stating they confirm I had loans with them between 2009 and 2011 but won’t look at them as they’re over six years old. However, they state they will if I explain why it has taken me over 3 years to reply. I am happy how I should reply to that question but sadly they have NOT stated the number of loans or how much was repaid as I initially requested. If I ask them to look at these loans which are ALL over six years old can I then forward my complaint to the FOS if I’m unhappy with their response or not? Appreciate your help.
Thanks again.
Mark says
Shane,
Yes you definitely can.
If the lender agrees that the FOS can look at it (i.e. they agree to ignore the rather silly ‘6 year rule’), it will be much quicker to resolve (3-6mths I think is the current norm). If the lender doesn’t agree that the FOS can look at it, then you are will be in for a longer wait. However the good news is that the FOS think they SHOULD be able to look at all cases so fingers crossed they resolve that issue in the near future.
Good luck and keep us posted
Rob says
Hello,
Has anyone had a case successful against MyKredit?
I have a complaint currently with the FOS but it has been with them since May last year and still not been assigned an adjudicator.
Really hoping that someone has had success with a complaint against them?
Rob
Sara (Debt Camel) says
Yes some successes. They aren’t a big lender so they are rarely mentioned.
Richard says
Hi I’m 26 now and was wondering how to go about finding out what loans I had with different companies since I was 18 I took our various loans, I was with Lloyd’s and still am all though I opened a new account with them when I was 22 I don’t really no where to start do I contact the bank and get all statmeants from my previous account???
Thanks
Sara (Debt Camel) says
If you remember who you borrowed from, then just send them the Step One complaint in the article above – that asks for a list of your loans.
If you don’t remember, this article looks at some ways you can find out. https://debtcamel.co.uk/find-out-payday-lenders/
It is a good idea to get your old bank statements as well as you may need these if a complaint has to go to the ombudsman and they can take time to sort out.
Ross says
Hi Sara,
Just after a spot of advice please, if I may? In January, of this year, I contacted Gamstop to block myself from online gambling. Thankfully, I have been ‘clean’ ever since. I set the time limit on 5 years, which means I will not be able to access ANY online gambling for this period. Prior to this, I was borrowing heavily from MyJar, Cashfloat and Fernovo. With Myjar, the amounts were considerable (anything from £300-£1500). With Fernovo, these were between £300-£750. With Cashfloat, these were between £200-£400. With all 3 lenders, whilst the amounts weren’t necessarily large, the pattern was consistently consistent. Even if the amounts weren’t large, and they ruled (in a complaint) that these were affordable, should they also have been alerted to a consistent pattern, of borrowing, and take this in to account when weighing up a complaint? I have made this point, in all 3 complaints sent today.
Sara (Debt Camel) says
yes, keeping borrowing again and again with short or no gaps between the loans is a pattern that a lender should have noticed. payday loans are meant for short term borrowing, and continuing to borrow suggests you were dependent on the loans, also that if the loans looked “affordable” to the lender prolonged borrowing should have suggested there may have been something wrong with their affordability assessment and they should have asked further questions. If the amounts tended to increase this is another factor that should have alerted the lender
Ross says
Thanks for your response Sara,
It’s only when I kicked the gambling in to touch, and made a point of reviewing the borrowing, that I realised how much I had borrowed and the amount of times I had borrowed. Both Fernovo and Cashfloat have acknowledged the complaints, via email, today, However, nothing yet, from MyJar. This is the one where I have borrowed the most (just under £11k in 2 years, with an eyewatering amount of interest too). Not sure what MyJar are like, when dealing with complaints, but we’ll soon find out.
Ash says
Hello Sara,
I hope you are well?
I would just like to thank you for all the information you have on this website, you have been unbelievably helpful!
Today I have received my first refund from QuickQuid who have been dragging this complaint out. It ended up with the ombudsman after QickQuid declined the decision the first agent at the FOS made. The refund was only £222.81 after the tax but I’m extremely happy with this as I only had three loans with QuickQuid. I was this now gives me even more hope with all the other lenders I used when I was in financial difficulties. I sent the FOS my acceptance form via email on Friday the 15th of March at 11:30am and today Tuesday the 19th of March at 15:30pm they funded my account with the refund. I know you like to know the dates for your other pages on this website to try and give some kind of indication of how fast they pay out.
Because of you and your amazing website I’m now out of financial difficulties so this refund of £222.81 is money is money i can enjoy for myself. The inspiration you gave me to become debt free has changed my life. It was a 5 month struggle with no social life or anything nice for myself to clear a total of £6400. But now I can put that all behind and enjoy the refunds I have coming my way.
Thanks again for all the help you have given me and everyone on this website!
King Regards,
AH
Mike says
Hi Sara, I have a complaint in with Uncle Buck,
I had a couple of emails over a few weeks stating they need more time to investigate (it’s not come up to 8 weeks just yet) and they phone me today saying they can’t see why the loans were unaffordable – although I definitely disagree and I have proof to go to the Ombudsman with. They have asked for 4 years of bank statements off me over the loan periods I had with them – is this normal? Would you send them to UB? I said I wasn’t too keen on doing this and they explained they didn’t feel it would be fair not to send the statements to them. Then in a round about way, if I did not send the statements they were pretty much telling me on the phone I would get the response back as the complaint not upheld? Can you advise at all on this. Thank you.
Ross says
Hi Mike,
You don’t have to send the payslips in, if you don’t want to. It will have minimal effect on your complaint (if anything) if you don’t. The point is that these kind of things should have been done BEFORE they lent to you. You’ve heard the expression ‘Closing the stable door, after the horse has bolted’? This is pretty much the case here. It’s no use them making these kind of checks, after you’ve had the money. When I complained to them, they were very condescending and unpleasant to deal with. Let them deal with your complaint with the information already provided and, if necessary, let the FOS deal with it, if they refuse your complaint. Good luck!
Sara (Debt Camel) says
As Miike says, UB used to sometimes be quite unpleasant if you send them bank statements, looking to attack your case. But…
a) I haven’t seen anyone say they have had that problem with them recently
b) if they reject your case you are in for a longish wait at FOS. I would say it’s worth a try sending them bank statements but don’t send them the originals. Send copies or digital versions.
Mike says
Hi Sara,
Coming back to you about my Uncle Buck issue – they have come back very quickly and mentioned the below:
As discussed, having reviewed the Bank Statements although I do not uphold the complaint, I am willing to offer you the amount of £323.65, which is a refund of the interest and charges from loans four to nine. I have also offered to remove the outstanding balance from your final loan which would result in the account being closed.
It seems strange they will offer a refund for certain loans and write off my current outstanding loan. BUT – they will do not uphold the complaint and will not budge on removing anything negative from my credit file? If they do not uphold the complaint why would they offer this refund plus write off my outstanding loan? The operative told me over the phone last night they should have done some checks further on certain occasions after seeing my bank statements? Also, some of this issue was down to gambling and they said I should have disclosed my gambling issues to them?
Can you provide any clarity please?
Sara (Debt Camel) says
how many loans did you have from them?
Mike says
Hi Sara, I’ve had a quite a few loans with them since 2014 to date. The last couple of years have been the main issue – repeat borrowing but they never made any further checks in my eyes, they also mentioned there are some creditors in the recent years that are not part of the information they hold.
Thanks Mike
James says
My reply from quickquid after I send the template letter through claiming I was given unaffordable loans and asking for a list of all my loans:
“I acknowledge receipt of your complaint and I am sorry to learn of your dissatisfaction. We take complaints seriously and confirm that we will be conducting a thorough investigation into your concerns.
Please refer to our Complaints Handling Process which is located at the bottom of our ‘Contact Us’ section of our website /contact-us.html). We appreciate you taking the time to read this as it explains how we will deal with your complaint and when you can expect to hear from us.
To help us reach a fair complaint outcome in a timely manner (and where appropriate provide an offer of redress), please provide us with the following information as soon as possible:
• Bank statements (at the point/s you took out your loan/s with us)
• Payslips (at the point/s you took out your loan/s with us)
• Any additional information relating to your financial circumstances (at the point you took out your loan/s with us)
• What is the date of your first loan?
• How long did it take you to realise that QuickQuid might have been responsible for any financial difficulty you faced?”
I do not have bank statements,
Pay slips or know the date of my first loan?
Sara (Debt Camel) says
I suggest you reply that when QQ have sent you your list of loans as requested, you will be able to make sure you have the relevant bank statements.
There is no need to ever bother with payslips. But you will need bank statements if this goes to the Ombudsman, as many QQ cases have to, so this would be good time to get them.
Susie says
Hi I had the same email from QQ few days ago. I emailed them back asking why they wanted me to provide this now and should they not have asked this at the time I applied for the loans. They replied saying I don’t have to provide this. This is just an email they send. But you don’t have to provide anything to them. Hope this helps.
Jozsef says
Hi Sara,
Just a quick question. Lending Stream did not upheld my complain, but I’m planning to bring it to the Ombudsman. My question is that the debt collection agency still have to wait for the Ombudsman’s decision or they have the right to start to collect the outstanding amount?
Regards,
Jozsef
Sara (Debt Camel) says
The debt collector can ask for payment but should not start court action while you have a dispute at the the Ombudsman. But you need to tell them as soon as the complaint has gone to FOS. And if you do get a Letter Before Action/Claim about the debt, or a Claim Form itself, do not ignore them – this hardly ever happens.
Also get your complaint to FOS immediately. Like today. Even if you don’t yet have all your bank statements or want time to write more details, get the complaint in as it will be months before it is picked up and during that time you can add more details to the complaint.
tom says
Hi,
My lending stream case has been with FOS since September. I was told today all lending stream cases are on hold as they are changing the way they assess cases against them to ensure a fair outcome.
Not sure if you have come across this before Sarah? Be interesting to see who benefits from these changes.
Sara (Debt Camel) says
I wasn’t aware they doing any different with LS cases in particular. Can you outline your complaint, how many loans, which years did you take them?
Neil says
HI ,
I have just contacted the FOS re lending stream and apparently they are putting these complaints on hold in order to work out a new approach to assessing these complaints as LS provide installment loans are are not traditional payday loans.
Sara (Debt Camel) says
That seems like an odd comment as most “payday loans” these days are instalment loans and FOS has been well aware of this and the sort of lending LS make.
Tom says
Hi Sara I had put in affordability complaint in against them as I had 8 loans over a 14 month period which were all installment loans.
They also allowed me to have another loan after going on a payment plan so I think I have a good case.
I recently had a decision go my way with satsuma so I am remaining optimistic.
Neil says
Hi ,
Does anyone have any idea whether Ferratum tend to agree with adjudicators decisions. I have just a decision back and out of 32 loans adjudicator has recommended refunding 28 of them.
Before I sent it to the adjudicator Ferratum disagreed that they lent irresponsibly but offered a goodwill gesture of £500 . When I rejected they offer they withdraw there goodwill offer and said they would abide by whatever decision the FOS service makes .
Do you think they meant at adjudicator or ombudsman level . Heres hoping they will accept adjudicator decision and not drag it out any further.
By the way i sent to FOS at the end of October , so it only taken just under 5 months.
Ross says
Hi Neil,
From my own personal experience, with Ferratum, they were very good and resolved my complaint (to my satisfaction) within 24 hours. Whether their standard of complaint handling has gone downhill, since then, I do not know. If they’re of the opinion that an Ombudsman will, generally, agree with what an adjudicator has decided, then I think they will accept the adjudicator ruling, but please don’t quote me on that. It wouldn’t be unreasonable to ask them the question, directly, to say that you want to get this resolved as soon as possible.
Neil says
Hi Ross,
Thanks for the reply.
Did your complaint go to the FOS and they responded to the adjudicators within 24 hours?
Thanks
Ross says
Hi Neil,
No, mine was all settled between myself and them. They, basically, refunded all of the interest, from the previous loans, and offset this against the outstanding loan. They then wrote off the balance owing, after this. I found them good to deal with. I hope they are as good for you.
Brendan says
Have had sadly countless payday loans over the years, have 2 claims with ombudsman at present for Ferratum and payday express, also WDA and wonga. today i got offer of £100 from Wizzcash for 5 loans of £200-£300 between 2016-2017. Would u advice to take the offer or but a complaint to Ombudsman
Sara (Debt Camel) says
How much interest did you pay on these 5 loans? Did they increase in value? What ere the “gaps” – between repaying one loan and taking out the next?
Brendan says
1st loan £200 (£83 interest), 2nd loan 100 days after £300 (£94 Interest), 3rd loan 119 days later £300 (£89 Interest, 4th loan 9 days after £300(£130 Interest) and last loan 24 days later £200 (£295 Interest after failed payments and charges) . In Total £691 in Interest and charges
Thanks
Brendan
Sara (Debt Camel) says
The gaps between loans 1 and 2 and the 2 and 3 are going to make this a hard case to win.
BUT “last loan 24 days later £200 (£295 Interest after failed payments and charges)” – can you double check that? Are you sure you paid £295 interest when you had only borrowed £200?
Brendan says
Sorry in their response letter they have it detailed wrong it is £84 for the final loan, confirmed after checking bank statements. If so would you recommend taking the £100 goodwill gesture.
John says
Still nothing in my account from PDUK day 11 after they sent email saying within 10 days 🤷♂️ Is it worth calling them?
C says
I would.
Worked for me last year.
John says
Don’t suppose you have a best contact number for them?
Josh says
Am having the same problem. They emailed me Tuesday to say it would be in my account within 5 days. I called yesterday on 01903 768769 and was told by the end of the day or call back tomorrow. I called back today to be told it will be early next week!
Iain123 says
They send it to their Treasury department Friday and payout Monday or Tuesday.
That’s worrying about ‘issues with Treasury’.
They must be hemorrhaging cash. I’ve had some money of them but hoping FOS gets more.
One to watch.
Sara (Debt Camel) says
“issues with treasury” can be simple admin problems, not running out of money!
tom p says
ive had no end of issue with them , I’m due 2 refunds one from Payday Express and Payday Uk
I have just been bugging them constantly and today have been assured due to an issue with the ‘treasury’ it should be with me by the middle of next week
Josh says
Hi Tom
Check your account. The ‘Treasury’ decided to ‘release my funds’ some time this afternoon.
gillian says
Good day sara after the adjudicator give mr lender until today to reply after not bothering to reply the first time they have come back and have disagreed with his findings that loan 2 and 3 and loans 6 and 7 are refunded, instead only agreeing on 6 and 7.
Since it has now to go to the ombudsman level I have asked that he relooks at loans 4 and 5 because even though there was a 8 month break between taking loan 3 and then loan 4 being issued in this time I have checked my credit report and it is showing 12 loans taken out in this 8 month period with other lenders( sunny payday uk and wageday advance shopacheck)so even though I was not using mr lender in this time I was using a lot of payday companies and if they would have checked they would have seen this
by the way all these taken in this time have be refunded also my credit cards were at max or overlimit
I was willing to settle without loans 4 and 5 due to the 8 percent would have made up the intrest I had paid on these loans but because I do not think they are being fair I decided I have nothing to lose asking him to look again at these
do you think this is fair sara I do not want to appear to being awkward
Sara (Debt Camel) says
I think you are being perfectly fair. Good luck!
Ross says
Well, a great start to my MyJar complaint, on day one (said very tongue-in-cheek).
I’ve just logged in to my account, to find that they have put me on a REPAYMENT PLAN, which I have not asked for. Instead of the payments ending in October 19, they have now cut the payment amounts in half and these won’t now end until MAY 2020! I have sent them an email to advise that I have NOT requested this and I don’t want an ‘arrangement to pay’ showing on my credit record, when I haven’t requested it. I have told them to collect payments, as normal, whilst they investigate.
Let’s hope this doesn’t indicate how good they are going to be at handling my complaint?
Sara (Debt Camel) says
Yiou are making an affordability complaint saying that the latest loan is not affordable? How then can you say you can make the repayments?
Ross says
I am, just about, keeping my head above water, along with all of my other credit commitments, but I am focussing more on the amount of times I have borrowed, and the dependability on the loans (repaying and applying the same day). I was borrowing from other companies and had MyJar made more stringent checks, then they wouldn’t (in my opinion) have granted me over £10k in short term loans, in a 2 year period. I have, literally, had to borrow from Peter, to pay Paul. A lot of this was down to me spending much, of any disposable income, on online gambling. As I have now, thankfully, kicked this in to touch, my financial situation has begun to improve, but only ever so slightly. It’ll be a while before I’m out of the woods! Thanks for getting back to me.
Sara (Debt Camel) says
Honestly unless your credit record is currently great, it is better to get a payment arrangement in place and have the lower stress levels. Well that is my view.
Ross says
Thanks Sara, I will take on board your advice. The last MyJar loan was for £1000, and taken in October 2018. At this point, I had loans with Fernovo, Cashfloat and larger loans with Avant Credit, Likely Loans, 118 188 and Bamboo. As well has juggling 7 credit cards, a large overdraft and my rent/household bills. I am the first to admit that I got myself in to this almighty mess, and it’s up to me to get out of it, which I will. However, I feel that the lenders have some part of the blame in this, as well as myself. Whether the companies, or the FOS, will think the same, who knows?
Sara (Debt Camel) says
A payment arrangement with Myjar will help you pay off more credit card debt and keep up with the other loan repayments.
Angela says
Just had email saying adjudicator has agreed with my complaint against Payday Uk on loans over 6 years old. He has asked Payday Uk to refund all interest and remove all negative information from credit file. Payday uk have until 1st April to respond. Has anyone else had experience of this and do Payday Uk respind by the deadline?
Sara (Debt Camel) says
PDUK do tend to accept adjudicator decisions – fingers crossed they do in your case.
Will says
Also in the same position. The adjudicator deadline has now passed. Apparently the FOS team at PDUK are at least two weeks behind so they need more time. Seems like simple stalling to me.
Lee sharratt says
They have had mine for about 8 months: I’m loosing my mind. I’m hoping one day
Eve says
Hi Angela,
I am glad to hear about the decision made by an adjudicator. I trust you can see the money coming to your account soon too.
Would you mind confirming how long have you had your case with FOS ? Many Thanks Eve
Ten says
Hi I am wondering if you can assist,
Earlier this year I have had 10 different Payday Loans at the same time totalling over £5k, these have all been paid off and some of them early. I have used most of these payday companies only once. Would I still have a strong case to get a refund?
Sara (Debt Camel) says
It’s always hard to win a one loan case. And if they were all repaid, that suggests they were affordable. If my the time you took the last couple all the previous ones were already showing on your credit record AND the last loans were very large then you may have some chance, but you will have to prove they were not affordable.
embob says
any advice please can you still get payday loan refund claim if you are in a debt relief order?
Sara (Debt Camel) says
Yes you can BUT this not a good thing to do as your DRO may be cancelled if your refund is large.
embob2 says
thanks for your quick reply. i am currently on a dmp with stepchange and have more debt im paying and just cant afford it.going to take 10 years to pay atm.i did send some claims for payday loan refund but would only be a few hundred pounds would this matter to the dro
Sara (Debt Camel) says
Sounds like a DRO is very good idea. A few claims for a few hundred pounds could add up to problem, see https://debtcamel.co.uk/dro-income-up/.
Nicki says
Hi Sara,
I have sent off all my complaints with the template (thankyou). My Jar have come back asking for bank statements and payslips to help with their investigations. Should I send them? If not, should I reply or just wait for them to send their answer?
Ross says
Hi Nicki,
I have just had the same response. I replied, saying that I wanted them to investigate my complaint based on the information they already hold and that I will provide bank statements for the FOS, if required.
Will says
Any idea on current wait time for a peachy payout?
Carla says
Hi Sara, I previously commented as I had an affordability complaint with sunny who have now responded to me and unsure what To do next.
First off I had 27 loans over an 18 month period with sunny, they have decided to partially uphold loans 17-27. Agreed to pay me £452.96 of interest I paid on these 10 loans plus £59.89 statutory 8% interest? I have an outstanding balance of £469.36. Meaning I would receive a refund of around £40, my outstanding balance would be cleared and only loans 17-27 removed from my credit file.
I am really unsure what to do here. What are the odds that they offered me there or thereabouts the amount I owe outstanding because they do t want to pay me out what I’m due? Will going to FOS be worth it for me, I am 100% sure I should never have had any loans from sunny due to my credit and borrowing history. If I lose my case with FOS where does that leave me? Also can I email sunny back with a counter offer or even ask if their decision is final?
Carla
Carla says
Forgot to add that they owe me around about £1600 + 8% that I have calculated myself
Sara (Debt Camel) says
“What are the odds that they offered me there or thereabouts the amount I owe outstanding because they do t want to pay me out what I’m due?” what a cynical suggestion… I am sure it is a COMPLETE coincidence…🤣
Can you tell me about the last three loans where there is still a balance? How much did you borrow for each of these? And how much have you paid to them, if anything? Ignore the interest they have added, just what did you borrow and what have you paid?
Then loans 17-24. Can you say how much interest you paid to those in total?
Then loans 1-16. Can you list how much you borrowed, eg 80,100,120,100,100,130 etc
Have you had a loan every month from them during this period or were there any big gaps?
Carla says
The last three loans were for £150, £200, £100. I did start to make payments in the beginning but then stopped altogether.
Loans 1-16 were for £100,£100,£50,£50,£150,£50,£100,£250,150,£50,£60,£50,50,£200,150,£100,£350
None of which had big gaps no greater than two months between my second and third loan. Then they were every month and majority of the time I had two loans out in one month.
Carla says
I may have completely misread the actual offer they have sent me Sara, I have gone over it again and it looks as if the will pay me £510 + £60 statutory interest and also “write off” the outstanding balance. I believed that they would have deducted from my owing balance what they were offering me back but there is no mention of that at all!
According to our records, this was at the time of your 17th loan.
In these circumstances, we agree to partially uphold your complaint in relation to the credit we granted after this point in time.
To put things right, we propose to do the following:
· Calculate the interest paid by you from your 17th loan onwards (£452.96);
· Pay interest of 8% (simple) on the above refund amount from the dates of payment to the dates of settlement, which comes to £59.89;
· Your total refund is therefore the refund amount (£452.96) & 8% simple interest (£59.89) which comes to £512.85;
· As there is a balance outstanding of £469.36, we also agree to write off this amount so you no longer have any liability to us;
· Amend your credit file by removing all loans from your 17th loan onwards.
Sara (Debt Camel) says
Oh well that is rather better! It is a rather odd way to phrase a refund, but that does seem to be what it says. You could double check with them that they are writing off your balances AND sending you £512 (that includes the statutory interest).
Carla says
Yes very odd way to put it 😂! If that is indeed the offer I may accept as the waiting for FOS Seems like a bit of a nightmare. But I hastily sent an email back to sunny asking them to re look at their offer also including for them my noddle credit report. They can withdraw an offer if I have asked them to look again can they?
Sara (Debt Camel) says
They could but they aren’t going to do that if you get straight back to them and say you misread their offer and can you double check… they want this settled!
Looking at you list of loans and taking into account the gap between 2 & 3, and that quite a few loans were very small, you have a reasonable case for loans 13-16 to be refunded. But their actual offer isn’t bad, so it’s understandable if you want to accept it and move on.
Baz says
Do myjar tend to agree with adjudicator decisions?
John says
Yes generally thy do .Definitely one of the better ones .
Ali says
Hi, I have had 2 cases with FOS for almost 5 months, I have just called to see if they need anything or any update and was told the ones with over 10 loans will take longer as there is a new process, does anyone know what that is? Thanks!
Sara (Debt Camel) says
Well I don’t think they should take longer, but FOS does sometimes treat “long chain” cases where there has been a lot of loans separately.
Ali says
Ok thank you, the lady said the satsuma one should hopefully be picked up soon but the sunny with more than 10 loans would take longer as there is a new process so who knows then! Thanks again
Lee sharratt says
Afternoon. How many loans from one company would u deem unaffordable? When I have several payday loans from different companies at the same ?
Sara (Debt Camel) says
It would be nice if there was a simple answer but I am afraid there isn’t. It depends on various things including how large the loans are, what your income was, what your credit record was like and whether the loan was actually unaffordable eg by looking at your bank statements.
Phol says
Hello, is there a template or good practice example of how to word the letter to the ombudsman?
I’ve now had two final response rejections, from quick quid and satsuma, who were two of my bigger issues so it’s a bit disheartening…
I’d gone to real effort to include everything in the step two email such as bank statements, credit report, even detailing a breakdown for each loan of the active loans – repayments v income and how it wasn’t ever affordable and detailing all my bank charges for the duration. Given these have been over a constant 4 year period it wasn’t light work!
Had hoped that I’d give them enough info that they couldn’t possibly say no.
Just want to make sure I’m giving myself the best possible chance when going to the ombudsman.
Sara (Debt Camel) says
You could read https://debtcamel.co.uk/payday-refund-complaint-detail/ but I think you have already done all the work, so just send that on to FOS!
Phil says
Thanks again.
Just frustrating – suspect I’ve been hit with blanket template responses by both QQ and satsuma now.
Was hoping I’d get more resolved sooner but doesn’t look likely!
Joseph says
So Satsuma have rejected my complaint, and for an extremely poor reason. Out of the whole complaint they’ve said they refunded the late fee charges so therefore that isn’t adverse and they did proper check. Even the adjudicator said it wasn’t the best response to a complaint. Extremely gutted feel like they are just playing games
Casey says
Hi Sara
I took your advice a few weeks ago and left a review on trust pilot for sunny as they failed to respond to adjudicators decision. Yesterday Sunny responded through trust pilot to say they have now responded to the FOS so I called the FOS and they said nothing was showing but it can take a couple of days for anything to show on a case.
Do you think this is Sunny trying to fob me off? They are nearly 9 weeks past the decision so it could be just further info for the ombudsman and that’s why I haven’t heard ?
Sara (Debt Camel) says
How frustrating!
Casey says
It is Sara as I thought the review had finally worked .. maybe it has and I just need to be a little more patient
Casey says
So an update .. FOS received an offer from sunny on loans 37 to 58 offering 490 pounds after a ten week delay .. when the adjudicator ruled loans 5 to 58 and when sunnys initial response upheld on loans prior to this and including and for over £550. Not really sure what Sunny are thinking so it’s still in the ombudsman queue..
Looks like they are dragging this one out no end.
Anyone else with similar experiences ?
bre says
Anyone have any success claiming back from piggybank i have had 11 loans starting Aug 2016 £250 (£47 interest), 2nd loan 176 days later £250(£26) 3rd loan 43 days £250(£62), 4th loan 32 days after £300(£65), 5th loan 36 days later £300(£53), 6th loan 23 days later £300(£70), 7th loan 42 days later £400(£76), 8th loan 180 days later £200(£28), 9th loan 30 days later £400(£55) 10th loan 22 days later £400(£80) and final loan 28 days later £400(£80). Any joy anyone or worth a complaint letter do you feel. Thanks for your help
Sara (Debt Camel) says
are those number of days the days from repaying one loan to borrowing the next? Or the days from taking one loan to taking the next?
Bre says
Days between taking one loan to taking out the next loan
Sara (Debt Camel) says
ok, could you rework your list so that the days you gave are the “gaps” between the loans. The time from repaying one to getting the next one. The shorter the gaps, the stronger your complaint is because it means you were reliant on the loans from that lender.
bre says
145 days between first loan and 2nd then, 28, 2 , 10 , 1 , 14 , 17. 11. 6 , 3. All days between paying off one loan and taking out the next loan
Brian says
Hi Sara
I’ve just had a reply from 24/7 Moneybox, they are paying me £2,510.52 + 8% interest (I used them for around 22 consecutive months).
Only asked for loans 7-23 but they have offered to redress loans 6-23.
I have accepted the offer and am yet to hear back (was only yesterday). For those wondering, I submitted on the 20th Feb. This week I also called them directly and the gentleman I spoke to told me to email them directly again and they would look into it.
I’ve got another 3/4 on the back burner which will hopefully work out in my favour too, but a great result and I’m really pleased – all thanks to your website!
If anyone has any questions about 24/7 moneybox let me know!
Chris says
Hi Brian, did you have a balance outstanding with 24/7?
I submitted a complaint to them on 2/2 and have only received an acknowledgement, nothing more to date. I took out nine loans over a 12month period, pretty much borrowing the day after previous loan paid. I don’t have any balance outstanding with them so aren’t using my breath.
I have advised in my opinion loans 3-9 were unaffordable as I had other loans out with payday lenders and have sent them copy bank statements.
Bella says
Hi Sara,
I took out a payday loan with Pounds to Pocket on 07.11.12 for £650.00 and I think a further £105.00 on 31.07.13. During that time I was in a debt management plan and had payday loans with Pay Day UK. I have an ongoing claim with Pay Day UK and only found the Pounds to Pocket loan whilst going through bank statements, I don’t even remember having it. Anyway regarding Ponds to Pocket, between 07.11.12 and 21.12.13 I borrowed £755.00 in total and repaid £1,708.56!! Do I have any chance of claiming some of that back?
Pay Day UK haven’t sent me a list of my loans. I started my claim with Payday UK in January and they have sent me an offer on my loans from January 2013. I have written to them in respect of why I hadn’t complained before now and have asked them to reconsider my older loans. I am waiting to hear back.
Sara (Debt Camel) says
Defintely repeat your request to Payday UK for a complete list of your loans.
The P2P loan has a lot of interest as you say – it is probably one of the flex credit loans, where you could keep borrowing and repaying all technically being the same loan.
You can win a complaint about these, send one in. It will be slow and have to go to the Financial Ombudsman as its over 6 years old, but just keep going.
Briaan says
Hi Chris.
I didn’t have an outstanding balance with them no.
However, I did pay on time every month without fail, often re-borrowing immediately after payment.
I advised that loans 1-7 were affordable and for me, 8-23 were unaffordable. However, they decided actually loan 7 was unaffordable.
My advise would be to be courteous and persistent with them. I nudged them earlier in the week and said I want to speak to someone who can resolve my issue etc and I now have a resolution to the matter. I imagine they get a lot of grief from people so I found being really polite but firm got me a long way.
I would say if your loans were taken out quickly after one another, you’ll have a good case. I don’t think bank statements are necessary – I certainly did not provide any – I think the cycle of loans speak for themselves.
I’m fully out of the cycle now, I think I have about £1000 still owing to Saftey Net Credit and Ferratum, but I have open complaints against both along with, Moneyboat, Uncle Buck, Wage Day Advance, Lending Stream, Piggybank and MyJar. I don’t expect to be successful in all of them, however, I have been persistent and firm from each and am hoping for some resolution.
If I can provide any help to either yourself or anybody else please do let me know.
Brian
Joseph says
Sara,
I’ve received a default notice from a payday lender that I completely forgot about, the complaint is still ongoing with the FOS but is there any way of negotiating a way out of this? If I offer to pay in full now would they remove it?
Sara (Debt Camel) says
So you forgot you owed money on the last loan? How long ago was it?
Joseph says
It was/is just over 3 months
Sara (Debt Camel) says
Well your best chance of getting the negative mark on your credit record removed is to just carry on with the complaint. lenders won’t usually negotiate over removing negative marks if you settle something. And the whole point of your affordability complaint is that you can’t afford to repay the loan.