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?
M says
Hello Sara
I have had a complete payday loan cycle nightmare during 2014-current.
I had approx TEN diffrnt companies lending at same time! I have put frwrd complaints to FOS since Jul 2018 & response is slow/but one HAS been upheld by FOS due to irresponsible lending/pattern of borrowing & financial hardship..thus far.
One particular concern is of my satsuma loan’s… got rejected directly by business (typical!) but then after NINE months of ref to FOS..I have history of IVA & DMC & many defaults :(
I wd appreciate it if u cd kindly advise me if I should appeal FOS decision & what options/chance I have to get case upheld?? :((
Thank you
M
Chris says
Wanted to know if anyone could help me over the past 4 years I have had various pay day loans
Wonga
Satsuma
Moneybox247
Moneyboat
Cashap
Cash4unow
Drafty
My jar
Sunny
Cashfloat
Some of the borrowing was month to month soon as I paid back the same or next day I applied again
I am still in payment plans with some of these company’s as I’m still in payment plans am I allowed to request compensation? Will they cancel my payment plans and sent it to debt collection agency’s?
Just want some advice as over the last few years I have had so many and around 7/8 pay day loans at once with a poor credit score also.
Thank you in advance to anyone that reply’s
Sara (Debt Camel) says
“I am still in payment plans with some of these company’s as I’m still in payment plans am I allowed to request compensation?” Yes you can.
“Will they cancel my payment plans and sent it to debt collection agency’s?” probably not, but honestly most debt collectors are nicer to deal with than most payday lenders, so does this matter?
Are your current payment arrangement affordable? Meaning you can get through the month without borrowing again? If not, then this would be a good time not just to put in payday loan affordability complaints but to get your whole financial position on a safer basis by looking at a debt management plan. Talk to StepChange about this https://www.stepchange.org/debt-info/debt-management-plan.aspx.
You can still make affordability complaints in a DMP. Your complaints may take a very long while to all go through as you have so many of them – some are almost certain to have to go to the Financial Ombudsman. If you aren’t in a safe position where you can afford to wait, youmay feel you have to take a poor offer from a lender rather than wait and get the much bigger refunded that you should get.
Louise says
Hi quick question my noodle credit report only seems to go back to 2017 is there any way of seeing your credit report further back?
Ross says
Hi Louise,
If you click on your individual lenders, this will show a record of payments much further back, depending on how long you’ve been paying to them. Hope this helps?
Louise says
Hi Ross
My credit report on noodle is only showing wonga going back to 2017, I had loans with 13 other lenders going further back but none r showing on the credit report and no other debts which I know I had (credit cards personal loans etc) should I pay for a full report from experian or anything I’m a bit confused, any advice would be very helpful.
Chris says
Hi, after receiving offer from Myjar on Tuesday and accepting same day, email received yesterday confirming payment processed and would take 5 working days.
However, funds now in my bank account. Great start for the long weekend
Anon says
Was this direct from myjar and if you don’t mind disclosing how much did you borrow and how many loans? I’ve had out right refusal on two loans, one was £1200 and the other £2000. I ended up with DMP. Any advice would be great. Thanks
Chris says
Anon,
I had four loans with them over 18mths. As soon as one loans was paid, I reborrowed the very next day.
£100, £1650, £1000 & £1000
I sent copy bank statements and a copy of my credit record which showed loans with other payday lenders.
I received a decision 2 days before the 8 week deadline and then received funds quickly once offer accepted.
Sara (Debt Camel) says
Two loan cases are harder but those are very large loans and the second was larger than the first so this is well worth pursuing. Send the case to the Financial Ombudsman staright away so you are in the queue.
At the same time send Myjar a Subject Access request (to dsar@myjar.com) asking for a copy of all your personal information including copies of any credit record or other affordability checks they made. You will get a stack of paper back… You are looking to show what they knew at the start of each loan means they should not have given you the loan.
Write to FOS asking for this to be added to the case you have already sent. Argue seperately for each loan. “Myjar’s checks on loan 1 one showed I had x outstanding payday loans, had had x payday loans over the previous 6 months, I had had recent missed payment on x and y, and i owed a total of £y,000. It is hard to see how Myjar can have thought a new loan for £1200 was going to improve this situation.
By the time I applied for the second loan of £2000 Myjar’s checks showed how much worse my position had got. etc etc”
Elle says
Hi
Anyone know what my chances are of getting a refund from sunny. I have worked out that between January 2015 and November 2017 they leant me 20,200 approx – a lot of the payments were in the same month – up to 3 a month and 2 loans paid out on the same day. This was alongside me having other loans with wonga, quick quid, cash asap.
Is think finance sunny? Most payments show as sunny but there are 3 showing as think finance.
Just want to know if people think there is any point pursuing this as I can see them just fobbing me off.
Thanks guys
Sara (Debt Camel) says
That is a lot of loans, you have a good chance of a good refund! If Sunny don’t make you a good offer (come back here is you are not sure) send the case to the Ombudsman. Yes Think Finance is part of Sunny so just send a single complaint for both.
Also send complaints to QQ and CashASAP. They should have seen all your Sunny loans and realised you were in trouble.
For Wonga the procedure is a but different as they are in administration and you may not get much back but it’s dead easy to complete the form on their site
Elle says
Thank you it amounted to 34 loans. I am going to pursue it as it caused me so much stress and I am still trying to get back on my feet. This was alongside personal loans from 118, Drafty, likely loans, overdraft. I had an email from wonga yesterday with the claim link and filled that in – that’s actually what sparked me to take a look at my other loans…I had 10 loans with wonga over the same period which amounted to about 6000. I only had three loans with quick quid total of around 2100 is it worth pursuing it given I had only 3 loans through them?
Safe to say i was lending from other providers in order to pay off other pay day loans/essential bills. The pay day Loan trap well and truly got me!
Sara (Debt Camel) says
“I only had three loans with quick quid total of around 2100 is it worth pursuing it given I had only 3 loans through them?” those loans were not small! and QQ should have seen the mess you were in from your credit record. I think it’s worth complaining, even if you only get a refund on the 3rd loan – but it’s up to you.
Sara (Debt Camel) says
You can also complain about likely loans, 118 and Drafty . There is a slightly different procedure and letters for these as the amounts tend to be larger and there may only have been 1 loan or 1 and a top up, see https://debtcamel.co.uk/refunds-large-high-cost-loans/. if you get a rejection on these it doesn’t mean you had a bad case – send it to the ombudsman.
Elle says
Thank you so much Sara. Could you point me in the right direction of the next steps I need to take? Have not yet contacted sunny at all so not started any process yet. All I have done is filled out the claims form for wonga which essentially just asks for personal details and nothing more. Had 10 loans with them in the same period as the sunny loans so hoping to get some sort of refund from wonga too although I understand the amount will be considerably low now that they are in administration!
Sara (Debt Camel) says
For Sunny and other payday lenders, follow the steps outlined in the article above.
M says
I made complaint with Satsuma for all relevant reasons to do with irresponsible lending as I have had TEN concurrent loans-same time. Some companies HAVE refunded & FOS on those basis.
However Satsuma rejected: so sent to FOS. Now FOS also rejected :( surprising as same circumstances as those upheld.
What can I do-appeal? What are chances of FOS changing decision? :/
Sara (Debt Camel) says
You just had one loan from Satsuma? How large? This is a decision from an adjudicator so it says you can ask for it to be looked at by an Ombudsman?
M says
Oh maybe I get omb to look at;
This is adjudicators response
Loan one – £100 borrowed on 25 August 2015 for 13 weeks. The loan was settled early after three days, when you made a payment of £101.29.
• Loan two – £400 borrowed on 10 September 2015 for 13 weeks. The loan was settled early after 20 days, when you made a payment of £437.40.
• Loan three – £140 borrowed on 10 December 2015 for 13 weeks. The loan was settled early after 13 days, when you made a payment of £148.19.
• Loan four – £140 borrowed on 12 January 2016 for 13 weeks. The loan was settled early after 17 days, when you made a payment of £151.22.
• Loan five – £300 borrowed on 30 January 2016 for 6 weeks. You contacted the business on 29 February 2016 to inform them that you were experiencing financial difficulties and a repayment plan was agreed. The loan capital was repaid on
22 December 2016 and you paid no interest on this loan.
You only repaid the capital borrowed on loan five and paid no interest or charges on the loan. Therefore, as you haven’t incurred a financial loss on loan five, I’ve not looked into the circumstances of its sale here”
M says
As seen: many loans: but also I provided proof of all other Pay day loans during this time.
Pattern of borrowing above: I feel IS showing irresponsibility from Satsuma: also I was gttn loan & paying another.. horrid cycle/panic :( until last loan of 300 got me in lots of trouble & DM payment plan that went on for AGES! Neg impact on credit file & all.
Pls advise how I can approach this adjudicator to send to Ombudsman bit confused… thanks
Sara (Debt Camel) says
I am sorry but I don’t think you are going to get anywhere with this complaint. The amounts of interest you paid were mostly tiny:
loan 1 £1
loan 2 £37
loan 3 £18
loan 4 £11
loan 5 zero
Loan 5 is the only one you would have a chance of a refund on but there Satsuma already removed the interest and let you just repay the loan amount. So effectively they have already refunded the last loan.
MM says
Hi Sara
Thank you for response… ok I will leave it as is.
Just feel all this/their irresponsibility has caused so much “pain” to say the least..
Thank you for this web site/your support. Means a lot for those unfortunately like me, effected: & what these pay day companies have gotten away with. Fingers crossed for positive response/acknowledgement.
Kind regards
M
simon says
Hi, I entered into a DMP last month due to not being able to make ends meet, pay day loans to pay pay day loans. I am not a gambler or have any bad habit’s just got into a situation which spiralled out of control ( I am sure there are many people like me ).
Having stumbled across this site this morning I have e-mailed lender’s going back 6 years with Subject Access Request’s;
Any experience with the fllowing firms would be appreciated;
Wizzcash
Wageday Advance ( KPMG Administrators )
Ferratum
Peachy
Payday UK / Express
Cashfloat
QuickQuid
UncleBuck
MyJar
Lending Stream
Sunny
Satsuma
118118
Swiftsterling ( Malta )
Wonga ( Via Grant Thornton )
Thank you in advance.
Sara (Debt Camel) says
Hi Simon, I suggest you read back through a few pages of comments. that will give you a better feel than asking what people’s experiences are with *this* lender. Some of the ones you mentioned are quite small so no-one may reply – that doesn’t mean they are hard, just that no-one reading this had a complaint with them!
The following lenders use the letters on this page UNLESS you only had 1 or two very large loans – in which case use https://debtcamel.co.uk/refunds-large-high-cost-loans/
Wizzcash
Ferratum
Peachy
Payday UK / Express
Cashfloat
QuickQuid
UncleBuck
MyJar
Lending Stream
Sunny
Satsuma
Don’t use the letters on this page for the following lenders:
118118 – read https://debtcamel.co.uk/refunds-large-high-cost-loans/
Swiftsterling ( Malta ) – read this page https://debtcamel.co.uk/swift-sterling-pounds-till-payday/ as it is totally different.
Wonga ( Via Grant Thornton ) – read https://debtcamel.co.uk/wonga-has-stopped-issuing-loans/
Wageday Advance ( KPMG Administrators ) – read https://debtcamel.co.uk/wageday-advance-wda-administration-sale-morses-club/
simon says
Many thanks Sara
I will update on my “journey”.
Simon
StevieC says
Hi,
I just wanted share a bit of experience around Drafty (GAIN) My complaint was refused within a week of it being made back in August 2018. I referred the complaint to the FOS immediately. The adjudicator ruled in my favour In February and Drafty agreed. So far all is going well:
Drafty then miss the date of complying with the adjudicators decision, still have not cleared my outstanding balance, continually send me debt collector emails and text messages despite no balance being due. I have complained formally again seeking compensation as I have had over 50 texts and emails asking for payment since agreeing to the adjudicators decision. To top it off they have added late payments to my credit file on a non exiting debt rather than remove negative markings as directed by the fos adjudicator. The adjudicator has been in touch with the business a number of times since to resolve the issue although 6 weeks later still not resolved.
Sara (Debt Camel) says
Another example of lending Stream/Drafty’s poor complaints handling.
Joseph says
Hi Stevie, I rang them comstantly telling them what should happen and it worked in the end. Took them rougly 11 days from adudicator decision which was only in March. Mine was Lending Stream but still same company, but probably not linked as such. Make yourself a nusuance and it works. Good luck.
Gordon says
Hi all, I have a couple of questions relating to Wage Day Advance. I complained to them last year end of summer about lending irresponsibly. They were quite decent and agreed that on a certain amount of loans they shouldn’t have provided so refunded interest on the relevant ones. They also explained they would clear any negative data from my credit files etc. In the present day however my credit file hasn’t been updated and there are still the relevant negative markers. I also have been sent an email from their administrators to advise that they believe I’m due more than what was originally given. I know they have a FAQ page however was wondering if anyone has already had a payout and been notified again they may be due more. The amount I was given is different to what they’ve calculated? I thought once a claim was settled, it was settled? I’m going to try contact them into the start of this week however.
Sara (Debt Camel) says
“if anyone has already had a payout and been notified again they may be due more.” yes several people have said this!
So I suggest you submit the claim.
BUT do try to talk to them about removing negative data from your credit records.
Peter Thomson says
Hi I had 31 loans in 32 months with 24/7 moneybox. I got my history of loans made complaint for irresponsible lending. 8/4/19 got a reply on the 12th asking me what would satisfy me as a full and final settlement t. Think I paid about £2000 in interest so asked for all interest plus 8% refund. They have not acknowledged that reply. Have I asked for to much?
Sara (Debt Camel) says
They were asking what you would be happy to settle for – you just said the maximum you could possibly get. If you would have been happy to settle for a refund on say the last 25 loans plus 8% rather than drag it out to the ombudsman they may have been more likely to agree. I just invested that 25 loan number – it’s up to you what you think would be a fair offer to settle the case quickly. Some people think it’s right they should try to get as much as possible, others are more happy to compromise, it’s a very personal decision.
Chris says
Hi Sara,
Odd question I know, but want to make sure.
I’m applying for a mortgage in 3 months after a default drops off my credit account, and have had no payday loans in the last 12-18 months.
I had 13 loads out with Ferrartum over a 13 month period, which I paid £1700 in interest toward, so I’m confident I’ll have a claim in some way (loans were reapplied the minute I woke up on the days they were repaid).
However I just wanted to see what a mortgage lender would think of a bank transfer from Ferrartum- I know I could explain it, but just want to triple check.
Sara (Debt Camel) says
I haven’t been asked this but I don’t think it would be a problem. The mortgage lender can see from your credit record that you had payday loans more than a year ago. And that you don’t have one now.
You should go through a mortgage broker, not direct to a lender though. After that long there will be high street lenders that will give you a mortgage offer at an OK rate – but you don’t want to picke an unusually fussy lender by accident!
Angela says
I had my complaint against Payday Uk/ MEM consumer finance upheld by the adjudicator including loans over 6 years old. MEM had until 1st April to reply, i still have not heard anything. Adjudicator said she would chase them on 6th April but still nothing. Should i keep asking adjudicator or is there a number for MEM and u could chase them ?
Anyone else been in the same possition?
J says
Hi Angela – I was in the same position last month but then they responded to the adjudicator a few days after the second deadline. They agreed and confirmed settlement. I got a statement by email about four days later with a promise to pay within 10 working days; the funds arrived in my account on Day 9. So it may just be that they haven’t got to it in time but will shortly – might be worth waiting one more week? J
EF says
Hi Angela ,
Would you please confirm when did you send your comlain to FOS ? How many months did you have to wait to get your case to adjuducator ?
Angela says
Hi
It was sent to FOS Nov 2017. I first heard fro adjudicator Dec 18 to say they were seeing if they could look at loans over 6 years . This was approved in Feb 19 . So a long process
Angela says
Hi have just heard back from adjudicator. As Payday Uk has not responded I have now to wait for the ombudsman to look at the case. More waiting!!!
Sara (Debt Camel) says
Sometimes they come back after a few weeks and accept the adjudicator offer. They are struggling to manage the complaint volumes at the moment.
Elle says
Standard response from quick quid but I really don’t feel comfortable sending them payslips/bank statements. Anyone had any success without doing so?
“If your correspondence was intended as a:
1. Request for documents from us – this will be provided and where appropriate, we will also let you know if we need any additional information;
2. Credit reporting complaint – to help us investigate and resolve the matter quickly, please provide us with copies of your credit reference agency file(s) displaying the information you would like us to investigate;
3. Complaint – to help us reach a fair complaint outcome in a timely manner (and where appropriate provide an offer of compensation), 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?
This information will enable us to complete a full investigation into your complaint.”
Sara (Debt Camel) says
If any of your loans are over 6 years old, you should answer the last question “How long did it take you to realise that QuickQuid might have been responsible for any financial difficulty you faced?”
Here you just need to say what happened – most people knew payday loans were making their difficulties worse but felt they didn’t have any other option, they didn’t know that the lender had a regulatory obligation to check the loans were “affordable” and so they had no idea that they could complain. Add when and how you found out you could make a complaint – did a friend tell you, did you see a Facebook advert from a claims company or receive an email from the Wonga or Wageday Advance administrators?
For all the rest, it’s up to you if you want to send any of this – I am not convinced QQ actually look at any of it, my impression is they apply a set of decision metrics to decide which loans (if any) to refund.
There is no point in sending payslips if you send bank statements showing your pay.
This is a good point to get your bank statements and a copy of your Noddle credit record together so you are ready to go to the ombudsman if necessary.
Elle says
Thanks sara, none of my loans are over 6 years old, earliest one I had was 2015. have got all my bank statements online already Lloyds are great for that! and I have got clear score credit report, do you think I should get a noddle one? Is there a difference?
I am not even sure why they want pay slips and bank statements. The reality is with the amount of loans I had, no matter what my income was they should have been questioning my repeated applications only hours after I’d pay a previous one off.
Can I just say how valuable your advice is I would never have known I could claim a refund if it wasn’t for finding your website!
Sara (Debt Camel) says
Lots of payday loans don’t show on ClearScore – Noddle is MUCH better for most people with payday loans, so download it.
“The reality is with the amount of loans I had, no matter what my income was they should have been questioning my repeated applications only hours after I’d pay a previous one off.” Yes and No. After you have borrowed about 20 times, FOS may say the lender should have stopped lending no matter what your income was. But you want to get a refund from an earlier point than that, say from loan 4 or loan 7. To do this you have to show that you actually couldn’t afford to repay the loans and get through the month without borrowing again.
JC says
Hi Sara,
I sent my first email to Ferratum requesting my list of loans using the template provided on here.
Today I got a response from Ferratum acknowledging my complaint, basically telling me they will now investigate my complaint and they have 8 weeks. Also they have said that they will send out my list of loans but only with my final response?
Do I now just leave it and let them investigate the complaint without the second template email? Or am I waiting for them to ask for more details??
Thanks
Sara (Debt Camel) says
Just leave it – if they don’t want to know the details about why you are complaining, they probably wouldn’t read them even if you sent them :(
JC says
Ok fair enough saves me another email i guess haha.
Thank you
Tom says
Hi,
I managed to get safety net credit to uphold a complaint. They have reduced the balance and said they will correct my credit profile. However, they have said they won’t delete this until the debt is fully repaid. I just wondered what the advice is for this? I am on a payment plan to pay off this debt, but would like this removing from my profile before this is paid.
Sara (Debt Camel) says
It’s up to you if you want to say you have to have the negative marks removed now or you will take the complaint to FOS. How long will it be before the balance is cleared? What is the rest of your credit record like?
Tom says
They rejected my complaint but reduced my balance from 350 to 60. So I felt like that was a good deal.
Sara (Debt Camel) says
OK, but how long will it take you to repay the £60? And what is the rest of your credit record like? because if you can clear it in a few months or the rest of your credit record is poor, is this worth arguning about and prolonging things by months by going to FOS?
Tom says
Personally I’m planning on just paying it in 1 go, in the next month. The default has already dropped off so I might as well just take the reduction. Makes it easier. They responded pretty swiftly though.
Eric says
I’m getting a little confused with my wageday advance loan Sara and hope you could help.
I recieved an email from them stating i’d been found to be eligible for redress if £120 (I didn’t put a claim in yet). There is a balance still owing so this will bring the balance down to £160. Is there anything else I need to do to claim the redress? I see a dealine floating around of 25th April to file a claim?
Sara (Debt Camel) says
So your balance is currently £280?
yes, the deadline for claims is the 25th.
Eric says
Yes £280,
Do I need to do anything if I have recieved the email stating I’m eligible for redress? There was nop mention of this in the email but I’ll email them just to be certain
D says
I’ve just put a complaint in to Mr lender.
Anyone had many dealings with them? I hate the fact most of these companies seem happy to just flat out reject your claim and then force you down the FOS route.
Sara (Debt Camel) says
If they send you a letter complaining you have used a template and need to provide more details, ignore it. Unlike most lenders they will listen if you explain why an offer they have made is too low, so come back here and ask if you get an offer you aren’t sure is enough?
chris says
they rejected my complaint, and also rejected the FOS decision so know its going to final decision. had 6 loans 1 of which was outstanding balance, the adjudicator ruled three of loans was unaforrdable, and repay the interest/payments to clear my outstanding loan.
i owed £600 and was being refunded around £300 in interest. they rejected the decision which i though was unfair because i paid over £750 in interest on all loans. so with the repayments made i would of had an outstanding balance of £100.
just seems a waste of everyone time for £300. they still have had a £300+ in interest, i would of paid my outstanding £100 in full and my account and cases would be closed, but know its going to drag on for another 6 months.
D says
Will do Sara thanks
D says
They sent the template letter to me however they then provided me.my loan history with them.
I’ve now sent my step two letter and totally blanked their pathetic dig about the first one being a template email.
I believe I have a strong case with the largest loan they gave me so I’ll keep you’s updated
Stewart says
I accepted a refund from 24/7 money box on the 5th of April and I’m still waiting for the money I’ve also sent 2 e-mails since which have been ignored…is this normal procedure for them
Sara (Debt Camel) says
Other people have also reported they are VERY slow at paying agreed refunds.
Peter says
Hi I’ve been wagon 247 moneybox since giving them my bank details on 26th march and also ignored all emails and are useless over the phone
Phil says
Morning Sara,
I’m at the 8 week stage, have had final responses from 247 moneybox, myjar, onstride/ quick quid, piggy bank, safety net credit, satsuma, sunny and swift sterling.
I’m yet to have responses from lending stream, mr lender or uncle buck.
Is it normal for lenders not to respond within the 8 week timeframe?
They acknowledged the email etc.
Should I just send them an email to remind them the 8 weeks are up?
Elle says
Hi Phil how did you get on with satsuma sunny and quick quid if you don’t mind me asking please? Just wondered what I can expect from them. I have just started the process and my loans are all with them, apart from my wonga loans which are a separate process with the administration issue!
Phil says
Satsuma and quick quid responded very quickly dismissing the complaint so now referred to ombudsman. Frustrating as both were very good grounds for complaint.
Quick quid were particularly frustrating as they dismissed the complaint before even providing details and basically sent a generic template reply that had no relevance to my case at all!
Sunny have partially upheld my complaint, agreed to refund from loan 13 – 28. Likelihood ombudsman would probably agree from loan 4ish so they’re offering around £800 less than what I would get from the ombudsman.
Others have been better, I suppose I’d say be prepared for it to take a while to get the outcome you need. I’d gone to lots of effort giving loads of detail however it didn’t change the outcome. I suspect it will be a case of going to the ombudsman for most of them!
Sara (Debt Camel) says
“Sunny have partially upheld my complaint, agreed to refund from loan 13 – 28.” Sunny seem to have a new rule that they won’t refund loans until you have been borrowing for a year – that isn’t a rule that the ombudsman applies! So yes, you may be able to get a lot more.
“I’d gone to lots of effort giving loads of detail however it didn’t change the outcome.” on the brightside that will now make it easy to send your complaint to the Ombudsman
Ross says
Hi Phil,
May I please ask how you found MyJar to deal with and what was your outcome? I complained around 6 weeks ago and they have said they need more time to investigate. I’m not in any rush, but don’t see a great deal of MyJar cases on here.
Phil says
Thanks Sara,
What should I do about the lenders that haven’t replied with their final response within the 8 week timeframe?
This is for UB Mr Lender, and Lending Stream.
Complaints were issued on 26th Feb, 8 weeks were yesterday.
My jar for me came back at about 6 weeks and said that they didn’t uphold my complaint.
I’ve since made a SAR and have sent them another email asking to reconsider and look at things again. To be honest the replies I’ve had when not upheld are typically template replies that don’t really relate to my case at all. So I’ve questioned some of the things on their reply with contrary evidence and will see what they come back with!
Not holding out hope and am resigned to the fact that it will have to go to FOS.
Sara (Debt Camel) says
Myjar don’t usually reconsider – I would send it to FOS if you don’t get a reply in a week.
It’s unusual not to get a reply from Mr Lender and Uncle Buck. You may not like their responses but they do normally reply… I suggest you phone them up and ask why.
There is no chance of you getting a sensible answer from Lending Stream if you phone them so I suggest you send that case straight to FOS.
Phil says
Just had a phone call from UB to discuss the complaint. 56th day and WOW they were awful on the phone.
Basically partially upholding by agreeing to repay loan 5 and 6, ignoring the other 11.
Amazed at the intimidation tactics on the phone though.
Will be sending to FOS.
I’m having a reoccurring theme with my responses though…
Basically they describe that as I had a good income, and declared low outgoings, no lender ever had a reason to do further checks and there was nothing to suggest they were unaffordable. Everything was paid on time until the end when I got myself into a real mess and it all went wrong.
This is despite continual lending and having to borrow from more lenders to repay etc.
Hope the FOS won’t agree with them on that view, most are going there now!
Sara (Debt Camel) says
There were a lot of reports about uncle buck being really unpleasant on the phone a year or two ago, but I had hoped they had improved. With 17 loans then I would expect that you should get more than 2 refunded, unless there are very large gaps between them or they are very small.
simon says
Hi Sara
Since sending SAR to all companies I have used for PD purposes I have looked into things alot more closely, QQ 25 loan’s between Oct 13 and Nov 15 ( you cant download the documents to view the interest charged )Interest they charged has to be close to 10k before Stat % is applied Sunny ( can only view post Oct 14 to Feb 16, 7 Loans but pretty certain from checking e-mails from them there were more during and before that period. Interest charged on those 7 alone comes to 2k before Stat interest applied.
As you can imagine I am all over them !
Liam Pritchard says
Hi I have had a reply from Mr lender after sending the step one template and just wondering how I should proceed. The email was:
Dear Liam,
Thank you for your recent email.
We are writing to ask for confirmation and clarity on the reason for sending this as the detail within the email is confusing.
While the start of the email suggests you are making a complaint there is vague information regarding the reason for your complaint just that you feel they were unaffordable, which is followed by a request for a list of loan(s), dates they were taken and the charges and interest you paid.
We are unsure how you are suggesting these loan(s) were unaffordable if you are unaware of the number of loan(s) you have had with Mr Lender and the value of interest and/or charges paid. We have seen the same email from other customers and have found it to be a template generated off the forum website debtcamel-co-uk/payday-loan-refunds/.
Whilst you are within your right to seek third party advice and make a complaint, with the above in mind, we require further information in order to conduct a full and thorough investigation into any concerns you may have relating to the loan(s) you held with Mr Lender.
We have attached detail of your loans with Mr Lender as requested, if you feel you would like to make a complaint regarding these loans please provide further detail indicating why you feel they were unaffordable
Kind Regards,
Mr Lender
Elle says
I find their response really rude Liam! How dare they comment on the fact that it appears to be a template. They have no right whatsoever! Who cares if it is, it has nothing to do with them and they should deal with each customer as an individual. I find their response highly unprofessional and would be adding that to my complaint!
Liam Pritchard says
That’s exactly what I thought, what does it matter whether I used a template or wrote it myself? The fact that I am putting in the complaint should be sufficient enough
Sara (Debt Camel) says
I assume you do need a list of your loans. I suggest you reply that you have already made an affordability complaint because you remember that their loans caused you difficulties, but you have asked for a list of your loans as you do not have the details.
Liam Pritchard says
Yes they attached my loan history, my first loan was 09/2013 for £250 which was fully repaid by 30/01/14 and I paid £437.50 interest and £38 admin fees. I then borrowed again on the same day I repaid my first loan, borrowing £600. Of that, I paid £107.70 capital, £540 interest and £24 admin fees. I did not repay the loan fully and it was passed to a DCA which it states on my statement of account. Should I just proceed to send them the step two template?
Thanks for your help
Sara (Debt Camel) says
Yes – point out that they should have stopped and looked at the second loan more closely as it was so much larger than the first one.
D says
I got the exact same email. From them.
I’ll sit tonight and go through part 2. Paid over 1000 in interest on 1 loan alone which had a proper credit check been done I should never have been given.
We will see where it takes me but I’m not holding out much hope with them
Sara (Debt Camel) says
Actually they do sometimes make good offers! And when they make a not good offer they do sometimes listen to a reasoned argumant about why this extra loan or two should also be refunded.
D says
Thanks sara
Rob says
Hello,
I’ve accepted an offer today from Satsuma and they say it will be paid by cheque, just wondering has anyone got any experience with how long they usually take to pay after an offer is accepted?
Cheers
Rob
Dave says
I received my cheque the very next day after their decision.
Ross says
Hi Rob,
They were, relatively, quick with mine once they accepted the decision. I was baffled though as to how they issue refunds via cheque, when they send loans via Faster Payments. My adjudicator was just as baffled as I was.
Scott says
Hi Sara,
wondering if you can help.
I successfully won my case against lending stream end of last november and got my payment close to christmas. I have checked my credit score today and they are still leaving defaults on my file and all of the other ones that were suppose to be removed (which was pretty much most of them) are still there too.
Do i need to go back to the ombusman or lending stream as it seems the LS havent held up there part of the bargin
Thanks
Sara (Debt Camel) says
Did you win your case directly with LS or via the Ombudsman?
Scott says
Hi Sara,
It was via the obudsman.
Sara (Debt Camel) says
then go back to your adjudicator and say that they still haven’t corrected your credit record. Also leave them a bad review on https://uk.trustpilot.com/review/lendingstream.co.uk – that may kick them into action.
Craig Phillips says
Hey, this is a great page thank you so much.
I have a question.
When in conversions with lenders is it unwise to admit you lied when providing financial information?
I would always be in over my head with loans and in order to get another just put a low (incorrect) number in the “credit commitments” section.
Im about to start contacting multiple lenders and I think their first defense will be along the lines of ” with the financial information you provided us you should have been fine” route. To which I would say well I lied ….. ?
Is this the lenders responsibility to check this rather than just trust the applicant and should I avoid admitting that i provided this incorrect information or just be honest ?
Many thanks
Craig
Sara (Debt Camel) says
Did you tend to use the same lenders month after month? or did you keep changing lenders?
Alec says
Hi Sara,
After finally clearing my last pay day loan and now out of the spiral i came across in the Money Saving Expert forum.
I have already put my complaint into Wonga as i used them every month in 2014 until i was rejected. I then moved to using Sunny which totalled 78 Loans from Dec 14 to Apr 19 totalling £24k.
During this period i also used Pounds to pockets 13 times, typically the figure loaned was £1k, over a period of the same time as Sunny, this also included top ups that were offered to me during the payment process.
I have repaid everything as of today.
I have used the 2nd template for my Sunny complaint and have emailed pounds to pocket for all information based on the 1st template.
For pounds to pocket should i continue using this pages template or the large loan one?
Thanks
Sara (Debt Camel) says
This page. The other page is mainly for when you had 1 or 2 large loans do you can’t argue about repeat lending.
Paul says
Hi,
I have been offered a refund by Sunny but its now 1 week since I agreed to their offer but they have not refunded me the amount yet, what should I do now as they don’t answer my emails.
Thanks
Paul
Sara (Debt Camel) says
was it a good offer? People recently have been getting very low offers from Sunny on strong cases.
If you want to try to kick them to pay faster, leave a bad review on https://uk.trustpilot.com/review/sunny.co.uk
Paul says
Hi,
I had 57 loans with them over 4 years, they are refunding from the 31st loan and offering £760 and removing details of the last loans from my credit file.
Do you think this is a good deal?
Thanks
Paul
Sara (Debt Camel) says
Well it doesn’t sound generous, but I guess the loans were small which complicates making guesses.
Paul says
Yes quite small and paid back quickly, I have a copy of all the loans and interest which shows this
Sharon says
I am at 8 week stage, not received replies from various lenders. How do I proceed ?
Sharon.
Sara (Debt Camel) says
which lenders?
Sharon says
Satsuma, Avant, Mr Lender, safety net Credit , 247 Moneybox , received e mail to say they have received my complaint , but nothing further I submitted the letter of complaint on 4 March ? I believe they have until Friday am I correct ?
Sara (Debt Camel) says
8 weeks after 4th march is the 22 April – which was Easter Monday. You could give it a few more days because of the Easter Break, or phone them up or send to FOS now.
I am surprised Avant, Mr Lender and SafetyNet Credit haven’t replied. I would give them a few more days or phone up.
Sharon says
Sorry what is FOS
Sara (Debt Camel) says
Sorry, The Financial Ombudsman Service. the article above explains how to send a complaint to FOS. It’s easy but slow.
Jim says
Hi wonder if anyone can help me out
Been stuck with pay day loans for years now and not long noticing you can claim back interest in the ones took out. Just wanting to know is it possible to claim for this if your in a trust deed
Sara (Debt Camel) says
See https://debtcamel.co.uk/payday-loan-refunds/comment-page-132/#comment-296374 where a similar question was answered by a Scottish adviser.
Big Dave says
Hi i have a claim going through with Peachey loans i am due to make an interest payment to them of 47£ tomorrow but they have sent me an email saying because i have a complaint going through that they cant take payment automatically but i can make a manual payment should i still pay this does anybody know ?
Sara (Debt Camel) says
can you afford to pay it and get through the rest of the month without having to borrow again?
Emma says
Hi,
After being in a DMP for a good few years now, I decided to contact my payday loan lenders and put in affordability complaints. I had a couple from Quick Quid which they are saying they have no record of, this was transferred to Motormile Finance (Lantern) along with one from Speed Loan (Herbert Brown). Quick Quid has been paid off recently but still paying the Speed Loan via my DMP. I contacted Lantern to ask for details of this loan and I received an email back stating they are unable to locate the agreements and that the balance is now £0. Does this seem rather odd? I’m pleased they’ve wiped the outstanding balance but something doesnt seem right somehow, if there is no agreement then what exactly have I been paying for the last few years? Just wondered if anyone had had a similar experience? Thanks
Sara (Debt Camel) says
How long ago was your DMP set up? Apart from payday loans, what other sorts of debt are in it?
Lantern has probably wiped the balance because they don’t have an accurate record of what the balance should be.
Emma says
I had a few payday loans, an overdraft and credit cards put into a DMP in 2011 with a company who took more in admin charges than actually paid to creditors so I switched to a free company and now I only have a couple of years left.
Sara (Debt Camel) says
As the credit card accounts are so old and have been sold to debt collectors you might think about asking the creditor to produce the CCA for the card, see https://debtcamel.co.uk/ask-cca-agreement-for-debt/. If they can’t, it’s unenforceable and you could stop paying.
(NB this doesn’t work for overdrafts. And it will rarely work for payday loans. And it’s not worth trying for very recent debts or ones that haven’t been sold to a debt collector.)
LL says
Great link and comments I have emailed peachy loans as I had 18 loans from 2013 to 2017 totally £8520 and paid £12.889
Date Agreed Amount borrowed Actual repayment date Actual total amount repaid (to date) Interest
13/08/2013 £350 11/09/2013 £447 97.33
13/12/2013 £300.00 23/12/2013 £324 24
23/12/2013 £500.00 3 months ( 31/12/2013) ( 31/01/2014 ) (28/02/2014 ) £753 253
28/02/2014 £500.00 31/03/2014 £660 160
31/03/2014 500 01/05/2014 655 155
30/04/2014 500 30/05/2014) ( 30/06/2014) (1/07/2014) 882.99 382.99
31/07/2014 £500.00 (29/08/2014) (30/09/2014)(31/10/2014) (28/11/2014) (31/12/2014) 995.25 495.25
22/12/2014 500 (31/12/2014) (30/01/2015) (27/02/2015)( 31/03/2015) ( 30/04/2015) 883 383
29/12/2014 500 (30/01/2015)( 27/02/2015)(31/03/2015)(30/04/2015) (29/05/2015) 1007 507
08/10/2015 150 (30/10/2015) (30/11/2015)(31/12/2015) 224.44 74.44
23/12/2015 700 (31/12/2015)(29/01/2016)(29/02/2016)(31/03/2016)(29/04/2016) 1314.04 614.04
11/06/2016 250 ( 30/06/2016)(29/07/2016)(31/08/2016) 358.39 108.39
02/09/2016 500 30/09/2016 612 112
30/09/2016 700 (31/10/2016)(30/11/2016)(30/12/2016)(31/01/2017) (28/02/2017)(31/03/2017) 1383.67 683.67
06/04/2017 700 28/04/2017 823 123
06/05/2017 250 26/05/2017 288 38
03/06/2017 620 (30/06/2017)(28/07/2017) 753.92 133.92
22/07/2017 500 31/08/2017 524 24
LL says
I did get a response today them as below :
“Thank you for contacting Peachy Loans.In case you are unable to send in any documents then we will investigate the complaint without the additional information. We will get back to you within the 8 weeks time period the latest in regards to your complaint.
In the meantime, if you have any queries, please do not hesitate to contact us.”I have also put in a request for my credit file for the last 6 years ready to take it further to the Ombudsman based on the response I receive .I do have similar loans from QuickQuid,Pounds to payday,lending stream, Quid Market , Uncle buck, 247Moneybox,sunnyloans and sent them all initial discovery emails
Jessie Jones says
I have been unsuccessful in claiming with Payday UK, Payday Express and Quick Quid due to the loans being over 6 years old . I am unable to provide bank statements or credit report .
I have sent my case to the financial ombudsmen. I know it will take some time but fingers crossed I will hear in the coming months.
Any one else experience the same problem with these companies?
Sara (Debt Camel) says
yes, it’s routine :(
Do you have something in writing from your bank/old bank saying they cannot provide the statements you need? If so, send that to the Ombudsman.
Sarah says
i had various payday loans from 2008 -2013 from My jar/lending stream/wage day advance/CFO loans/pay day uk
Wage day advance have emailed and i have sent a claim off, the others are not on my noodle credit report and i have very limited paperwork/none to prove the loans but with all the above they were rolled over several times and once paid off then taken out the next day. In the end i went through a DMP for wage day advance/my jar /payday uk which was all paid off December 2014.
Please can you confirm how i go about these with little/no evidence?
Sara (Debt Camel) says
1st stop no longer exist – nothing you can do with that one.
CFO lending is currently in administration – the last I heard the administrators don’t have any more money to pay out.
Myjar, Lending Stream, Payday UK use the template letters above to start complaints. You don’t need to produce evidence of the loans – the lenders have that.
You should download now a copy of your Noddle credit report. It doesn’t go back as far as you need, but get it now so that there is something.
Also ask your bank for bank statements – you can get these even ofr closed accounts. you may not be able to go back to 2008 but even a years or two will help. But get the complaints in right away and then pursue the bank statements.
Sarah says
Thank you, will i need to provide evidence or will they just make a decision off their records?
Sara (Debt Camel) says
If you don’t provide evidence, they will make a decision based on what they already know. If you don’t feel that is an adequate refund, you can then send the case to the Financial Ombudsman Service (FOS). FOS like to see bank statements but if you carried on borrowing for month after month from the same lender, FOS recognise that these “long chains” of loans should be refunded from some point.
Sarah says
I have received a reply from My jar but they are asking for bank statements/payslips but refusing to give me my breakdown on loans and interest paid? i have gone back to them advising for them to provide me with this information in the 1st instance, can they refuse to provide this before i provide further info?
Sara (Debt Camel) says
You don’t have to provide any more information unless you want.
If you think they are refusing to provide this information – rather than just being slow – sent them a request for a copy of all your personal infomration, including credit record checks to dsar@myjar.com. But you will get piles of paper and often it’s hard to tell what is happening – a simple list of loans and interest paid is easier.
Nats says
Hi,
CASH GENIE – So the liquidators of cash genie emailed a couple of months ago saying anyone that is due a redress will receive it by the end of April (however many pence in the pound). Since then I haven’t heard anything. Has anyone received payment or an indication of how much etc?
Thanks
Daron says
You be lucky if you get it that said end of month it’s looking like May now
Sarah L says
Hello
I have an ‘overdraft’ with drafty – it was marketed / sold to me as an alternative to payday lending, but in reality with the interest and minimum payments they charge is would take years to cover. To me, it’s like a payday loan that’s being rolled over again and again.
I’ve complained to drafty, but they have refused my complaint as they say I could afford the minimum. They also lent to me whilst I had 3 unsatisfied CCJS and mortgage arrears, and did not ask for bank statements, so I think this is irresponsible lending.
Do you know of any similar cases, lots about PDL but not drafty…..
I also have an IL complaint in with my jar, its ongoing and I have raised to the ombudsman, they are now threatening a default (after 2 years) if I don’t pay – is this allowed whilst there is a pending complaint?
Thank you
Sara (Debt Camel) says
Just send it to FOS like any other payday loan.
Also (do this after sending FOS your complaint, you will have a long wait at FOS so get your case in there) send Drafty at customercare@drafty.co.uk a request for a copy of all your personal information, including all credit checks that they performed on you. be persistent about this. If they send you loads of paper but no credit record stuff, ask where it is. If they ignore this ask them to supply the credit check or confirm that they have no record of it or you will report them to the Financial Ombudsman.
Having mortgage arrears on your credit record should have been a big red flag – but they ignored it.
simon says
Hi Sara
QQ Have replied to my initial request for information sent on the 19/04 with the following question’s;
Please provide us with the following information as soon as possible.
Bank Statement’s ( at the point you took out the loans with us ) which I have but a loath to send them
Payslips ( at the point you took out the loans with us ) in 2013 / 14
Any additional information relating to your financial circumstynce’s at the point you took out the loans with us in 2013 / 2014
What is the date of your 1st loan ( which they already know )
How long did it take you to realsie that QQ might have been responsible for any financial difficulty you had ?? ( they already knew I was in difficulty but kept on lending ).
Shall I just move to stage 2 template ( re jigged ) as these muppets are trying to put the onus on me to build a case for them to refute the inevitable FCO involvement ??
Sara (Debt Camel) says
See the section in this article https://debtcamel.co.uk/quickquid-payday-loan-refunds/
Dan says
Hi Sara
I borrowed from Myjar as follows:
7/5/17, £1200, repaid 5/7/17, interest paid £237
12/8/17, £750, repaid 13/6/18, interest paid £552
13/6/18, £850, balance owing of £55 will be cleared 12/5/19, interest paid prior to freeze due to DMP, £326
I sent the step 2 letter and they’ve replied asked for bank statements, which I have anyway dating back to 2012, so I have no problems sending them these. They also asked for additional info regarding my circumstances at the time of each loan taken out.
I repaid the 1st loan after borrowing £3k from family as I was struggling. The family loan can be seen on my bank statements. In the 13 months between loans, I borrowed at least another 37 times from other lenders which I have also pointed out in my response.
As it’s only 3 loans, should I mention that I will have understated my expenses when applying?
Sara (Debt Camel) says
These loans were large and the lender should have noticed that “In the 13 months between loans, I borrowed at least another 37 times from other lenders which I have also pointed out in my response.”
“As it’s only 3 loans, should I mention that I will have understated my expenses when applying?” That makes it harder for Myjar to see what was going on.
I think you should send myjar a Subject Access Request to dsar@myjar.com asking for a copy of all your personal information including copies of credit checks and any other affordablity checks they made. This may be useful – for cases where there were very few large loans it gives you infomrtion to argue in detail – “the credit check they ran for my third application showed the x,y, and z had got worse since my second”.
Dan says
Thanks. I made a DSAR to them on Tuesday so will await that before sending a reply.
I also sent step 2 letter to 8 other lenders. Poundstopocket have replied asking for bank statements, additional info etc. and have sent the SAR which also included my Quickquid data.
Anything in particular I should look out for? For example I did notice rent expense for QQ was £250 but at my first loan with P2P I declared only £100 rent. P2P one also seems to show I declared nil for ‘other credit commitments monthly’, when I was actually paying £350 p/m on loans from Halifax and Zopa. The figure with them was updated to £350 on 3/10/15 when I applied for my third loan with them, the £350 however was false as I was heavily in debt.
QQ
10/4/13 – 3/9/13, 5 loans, total £600, Interest paid £109
P2P
3/11/13 – 28/2/18, 7 loans (includes 3 top ups), £7.5k, interest paid £4.7k (throughout this period I’ve borrowed 80 times from other lenders)
Sara (Debt Camel) says
Look out for credit checks which prove what you should have been paying to other debts.
Steve says
Hi Sara,
I contacted you a while back about settling an account and receiving confirmation only to be 2 months later issued with default notice. I didn’t realise at the time but they put the amount back in my account without my say so. I checked with my bank and the transaction went through.
I raised a complaint and today receive a response saying the transition ‘timed out’ and didn’t go through (my bank says otherwise) and that due to an internal error they didn’t pursue this for 2 months hence why only come to light now.
Where do I stand? Have you any advice?
Thanks,
Steve
Sara (Debt Camel) says
I suggest you ask your bank to put it in writing that the transaction did not time out, but that your paid them then your account was recredited.
Katy says
Hello
Sara, I just wanted to say first of all – thank you so much for creating this site. It has been amazingly helpful and I’ve really enjoyed reading about other customer’s success stories. It gives me a lot of hope! I also enjoy hearing that these horrible companies have had to part with their money :-)
I am interested in submitting a claim against Sunny. I’m horrified to admit that I have taken out a total of 29 loans with this Company between the period 2016 and 2019. 19 of those loans were taken out in the last 12 months. The loan amounts were relatively small (always 150.00 ) but I was borrowing every month, often re-borrowing a day later I had paid back the loan.
Given that these loans were fairly small, I was wondering whether you think it’s worth me submitting a complaint? Or is it likely to get thrown out straight away.
Thank you in advance
Sara (Debt Camel) says
29 loans, with 19 in a year is definitely worth making a complaint about.
Was £150 a small amount to you compared to your income?
Phil says
Am I right in thinking the FOS is reviewing quick quid complaints beyond 6 years now?
I had submitted a complaint to FOS last month and explained that I wanted them to look at those beyond 6 years but not issue a refund on them in the hope it would speed it up a bit (as there had been hold ups).
Is it now worth me emailing the ombudsman and asking for all the loans to be taken into full consideration?
Thanks again Sara.
Sara (Debt Camel) says
How many loans were older?
Phil says
6 older than 6 years.
Capital of £4100, interest of £4150.
Not sure if the 100% interest cap applied at that stage?
Sara (Debt Camel) says
So if you had a refund from the loan 4 not loan 7 that could be a couple of thousand. Plus 8% statutury interest.
If FOS haven’t actually started looking at your case, they may be happy for you to change your mind – I don’t know – no-one has tried this.
It is still possible that over 6 year cases will be slower, but I can’t predict how much slower.
The interest rate cap only applied from 2015.
J says
Hi Phil – I did this some time ago. FO were fine with it (my complaint had not been allocated at that time) and they switched it across while I was on the phone and it was later confirmed when I asked about progress and checked. Call them on the free helpline and explain and provided it has not been allocated then I would imagine they can do the same for you too. All the best, J.
Rich says
I had a final response from Ferratum to waive outstanding loan balance and to pay £100 even though they reject the claim that they lent irresponsibly.
Woukd people consider this as a good indication that if I went to FOS then the result would be in my favour?
Has anyone else had similar experience?
Sara (Debt Camel) says
Can you summarise your borrowing from Ferratum? How many loans, How much interest did you pay on the loans excluding the last unpaid one? the last loan – how much did you borrow (ignore interest) & have you made any payments to it?
Brian says
I had approximately 34 consecutive months which amounted to about 21 loans (some of the later ones were installment loans). I had an outstanding balance of £583 – assuming 0 interest on final loan. They offered to write off £750 (which was the final loan including interest) + give me £500 as a goodwill gesture. I would say each of my loans were £500+ and each of the installment loans were £1,000 over 3/4 months. I rejected this as I’d paid £4,100 in interest over all loans and wanted redress from loans 8 onwards. Each of my loans was taken out the same day or 1 day after the prior was repaid. I was rejected out of hand – I’ve sent it to the FOS and if I’m unsuccessful, by my research I would be the first person to ever lose such a case. My advice – reject.
Stephanie says
Hi, thanks for all the amazing advice.
I put in a complaint with quickquid on 26 Aug 18. They did not uphold my complaint as I didn’t inform them of my hardship. I submitted my case to FOS on 17 Oct 18. Further info was requested in November.
I received a letter on Monday, I’ll summarise it;
Sorry it’s taking so long to be assigned to an adjudicator – one situation we’re looking at is payday loans lent repeatedly and over a long time – the category which your claim falls into – we’re progressing these complaints but it may take more time before your answer – patience appreciated
Does this mean quickquid are arguing these complaints also?
Any advice appreciated.
Sara (Debt Camel) says
These are the so-called “long chain” cases.
FOS is saying it doesn’t have to check every bloody loan to know they are unaffordable when there are loads of them. QQ says they do. FOS says it has already made plenty of these decisions and QQ should start learning from them.
OK, FOS wouldn’t dream of using that language and I have over-simplified, but you get the drift.
This is just an annoying process argument. QQ aren’t saying FOS has no right to look at these loans, or the regulator says what QQ does is fine, it’s just grumbling.
But it’s impossible to predict how fast any QQ case is going to move at the moment.
Louise says
Hi I’m after some advice I made a complaint using template letter 1 to 247 money box they have responded saying I had taken 4 loans in 4 month £80,£80,£155,£200 the last loan I paid 604.72 back to them as I had ended up in a dmp I had various payday loans at the time, but at the end of there email it says ”
In addition, what would you see as a full and final settlement to your complaint? By this we mean what would resolve the complaint for you.
Should I send template letter 2 or just go back and say I want interest and charges back? Any help would be brilliant.
Sara (Debt Camel) says
They know you want interest and charges back on loans. They are asking you if you would be prepared to suggest a lower amount to settle for.
So you could go back to them and say you would be happy to settle for the interest and charges on loans 3 and 4 plus statutory 8% interest, as the first two loans were small but you think they should have checked more on the third loan in three months which was much larger.
Anita says
Sara,
Kind request, could you please post a link to your comments regarding R40 form and claiming back tax taken from refund. I am struggling to find it on your website. Thank you.
Sara (Debt Camel) says
https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
If you have problems finding other things, there is a search box at the bottom of the page. Putting R40 in there – or putting Debt Camel R40 into google – finds the page.
Anita says
Thank you so much.
Mark says
1st Stop still have a website and are still on the FCA register as authorised or have i misunderstood something?
Sara (Debt Camel) says
1st stop are not a payday lender.
People that took a payday loan out probably took it from 1st Stop Payday Loans Ltd, who were part of Clear Recoveries ltd who were dissolved last year: https://beta.companieshouse.gov.uk/company/05440781
Talk to the ombudsman if you are unsure whether you can make a claim.
D says
Sara
Ive just had an email from the wonga administrators. The loans I had with them are years old. (Well over 6) however they would be deemed unaffordable as I was basically paying my months wage to them at the time.
I’ve registered to see about getting money back like the administrators suggested but will I stand a chance?
Also
Safety net credit have made me an offer to the penny that I am due and I am delighted. Do we know how quickly they pay into accounts?
Sara (Debt Camel) says
re Wonga – yes refunds will be calculated on loans over 6 years. But you will only get a small amount of the calculated redress as there will not be enough money. See https://debtcamel.co.uk/wonga-has-stopped-issuing-loans/ for Wonga news, not this page.
Well done with your SNC calculation!
C says
SNC were very professional and fair with me, fair play to them. After confirming my bank details the funds were with me in 24hrs.
A massive thank you to Sara for guiding and supporting all of us
D says
Brilliant C that’s excellent.
Just got an email back saying it’s now being passed to the relevant department and will be with me no later than may 3rd.
Again this site is fantastic and the information shared by both Sara and the people posting here is really helpful.
Regards wonga it would have been a huge sum for me but It looks like it will be so many p in the pound if I’m lucky.
Ally says
Ferratum came back to me today after paying my second last payment of 209 with 85 remaining. Sneaky from them to offer me cancelling of the last payment and 100.. bearing in mind it was only 3 loans and not my major players. I went back informing them I thought it was sneaky to offer the 100 when just this morning I’d paid 209 requested they up their offer of a refund of today’s payment, 100 and mark my loan as paid.
They came back with this response…
Good afternoon,
As we have issued our final response increasing the goodwill gesture is not something we would normally do. Ferratum do not feel we lent irresponsibly and the offer made is not acceptance of alleged irresponsible lending.
In this instance, to bring the matter to a close we can increase the goodwill gesture to £175.00 and will also waive the current balance.
If this is not acceptable we will withdraw this offer and have provided details of the Financial Ombudsman Service in our original email.
I am sorry if we are unable to come to an acceptable resolution today.
Kind regards,
It’s not a lot but I got them to change their offer which is always pleasing. Like I said wouldn’t have been due much anyway, thank you Sara. Hopefully this is the start of the ball moving on the bigger players I’m trying to tackle.
Sara (Debt Camel) says
it’s a shame you hadn’t cancelled the payments to them. But on three loans that now isn’t a bad offer.
Anita says
Sara sorry for my stupidity hence asking again for your help. I have sent R40 but apparently I made something wrong as they have send a form back to. So..
What is net interest paid by banks etc…
What is tax taken off the gross interest paid by banks…
What is the gross interest paid by banks…
I have received £ 2642.29 redress from payday loans companies, they deducted £ 205.96 so actual payment was £ 2436.33
How does it reflect to the questions on R40
I would appreciate your help. Thank you
Sharon says
Has anyone had any dealings with SNC got complaint in with them , do they come back within 8 weeks and offer or decline? Sharon
D says
I had an offer only a week after sending my complaint in. 10 days at most they were with me
Good luck
Sharon says
Thank you eight weeks up Monday, heard nothing
Sharon says
Just spoke to them they said it was sent to wrong e mail address? Had to resend it 😔was it a good offer as the take so much interest.
D says
Yes it was around 1300 pound with a further 8% added. I.only had one with them for around 8 months
Sharon says
Ok great I had 1,000 but continuous over 3 years or more so fingers crossed . Just spoke to them had to resend complaint so hoping they will be quick . Thank you .
Kim Hunter says
Hi they came back to me within the period and offered to pay the balance off this was in June 2018 but I declined the offer and took it to the ombudsman which voted in my favour in January and I received £1350 back, its a waiting game but worth it in the end.
Liam says
Hi Sara I have received a final decision email from H&T today, only 13 days after sending the step one template. I’m just wondering do you think it’s worth sending to the ombudsman now they’ve chosen to not uphold my complaint? I only had one loan of £300 taken out on 02/02/18 but it was an 18 month loan, repaying £51.67 each month. That’s £630 interest + the initial £300 so repaying £930! I stopped paying this in November as I moved on to a DMP which is currently dealing with my outstanding balance. Do you think the ombudsman will likely uphold my complaint seeing as I only took the one loan? I had several other loans at the time with different companies which should have shown up on my credit report
Sara (Debt Camel) says
So you have already repaid more than the £300 you borrowed?
I suggest you go back to them and say that they should have seen all your other lending at the time which showed the loan was unaffordable – attach a copy of your Noddle credit record and a bank statement of January 2018.
Point out you have already repaid more than you have borrowed and you will be happy to settle the complaint if they write off the remaining balance, otherwise you will be sending it to the Financial Ombudsman.
Say if they won’t settle it, you want to make a Subject Access request for a copy of all your personal information, including but not limited to the details of any credit checks they ran.
Iain123 says
Yes, go the Ombudsman. H&T are unhelpful
Johnvan says
Sara
I would appreciate your advice on regard to Safety Net Credit. I have borrowed money from them continously since November 2015. I have had a credit line that has risen to £1000 that i have drawn on 255 times. My total borrowing has been over £38k and repayments made have been over £41k. Almost £3k interest. I haven’t defaulted on payments. I have a current balance of £1303.31. I am not working and recieve JSA of £146.60 a fortnight £96.60 of which is seized overnight by SNC. I was planning on borrowing money from family and repaying the debt before issuing an affordability complaint. Is this the wrong course of action?
Liam says
I’d also like to know this, had continuous credit since 2015. Paid back at the end of each month and withdrawn again immediately. I currently owe £765 so can I still put in a complaint? If so, should I cancel any future payments until the outcome of the complaint?
Sara (Debt Camel) says
“I am not working and receive JSA of £146.60 a fortnight £96.60 of which is seized overnight by SNC”
That is horrific. You should certainly make an affordability complaint.
“I was planning on borrowing money from family and repaying the debt before issuing an affordability complaint. Is this the wrong course of action?” Well you could do, but I am never keen on people borrowing money from family. If SNC don’t make you a good offer and this has to go to the Financial Ombudsman it can take many months to sort out.
A better option is for you to cancel the CPA to SNC with your bank, so they can’t take any more money from you. You then owe SNC the money, but that will get set off against your refund.
Anon says
Hi, I was hoping for a bit of advice please, I went to the ombudsman in relation to myjar and 2 loans were deemed irresponsible lending. I was borrowing to repay and enough wasnt done to see if these were affordable. Loan 1 was paid off a day later after borrowing from another company and the 2nd which is still owing was borrowed to pay off lender that was used to pay off first loan. When myjar learned I was going to the ombudsman they froze all interest on the final loan and agreed to a repayment plan after the ombudsman decision. Ombudsman contacted them with finding going in my favour. They paid 6.00 from the 8% interest and agreed to freeze interest and set up an affordable repayment plan. I feel like I havent gained anything with this as they previously agreed to this option, the loan is 1450. I didnt see any of it, it went to paying back another. Can I ask that some of the loan be wiped off? I have to respond to the ombudsman but I’m not sure how to go about it. Thank you in advance
Sara (Debt Camel) says
How large was the first loan and how much did you pay to settle it?
How large was the second loan? Have you made any payments to it?
Anon says
Thank you, first one was for 450, it was borrowed on a sat 25th and repaid on the 28th, short story, I had alot of borrowing due to being unable to keep up with payments so was borrowing to repay, this 450 was borrowed to repay wonga, I then borrowed to pay this straight back, I was in a trap no idea how to get out of it. Myjar wouldn’t allow a repayment the same day so it was repaid in a couple days later and the interest was just over 5.00, in order to repay wonga and others a further loan was approved of 1475 and used to make payments to the others. After this I sunk and honestly couldn’t get my head above water, I’d gotten Into such a cycle there was now longer a way out. I’d borrowed to make repayments and it went on and on. I hit depression. I contacted myjar and explained, they froze the interest and we proposed a repayment plan. I then put in a irresponsible lending which went to the ombudsman and went in my favour. A repayment plan as yet to be set up. I believe I made one payment of 26.00 but this does no show in statement so I will have to go through old bank statements.
Sara (Debt Camel) says
So has FOS said that interest should be removed from the outstanding balance?
Anon says
This is what FOS stated in email “Redress due: £6.18
MyJar has advised that your final loan remains outstanding and they have not received any repayments to date.
They have advised they will reduce loan 4 to the principal amount borrowed, which is £1,475 and credit the refundable amount of £6.18 towards the open balance. This leaves the outstanding balance for loan 4 as £1,468.82. MyJar have advised that they are more than willing to set up a repayment plan which is deemed suitable for you.
*as its states loan 4, I had 4 loans in total with them, the first 2 were deemed affordable in which I agree with
Sara (Debt Camel) says
OK, that is what should happen. You paid a tiny amount of interest on the loan 3. And none on loan 4, so there is no interest to be refunded. The interest hasn’t just been frozen, it is being removed from the outstanding balance, so you now only have to repay what you borrowed.
I’m sorry if you thought you were going to get more, but you have been given the maximum.
You may be able to make affordability complaints against the other lenders you were borrowing from.
Anon says
Oh, thank you. Iv not been through this before, i found it rather confusing. Sometimes you just need someone to point out the obvious Haha. Thank you for your help. I did put in a irresponsible lending complaint to wonga but after their outcome and it went to the ombudsman they ceased lending, but I believe the administrative team at wonga are still looking into my claim. One lender I missed the 6 month deadline to take it to the ombudsman after their refusal of complaint. Thank you again
Joseph says
Just received my cheque this morning from Satsuma for £1,259.03! Excellent way to start my 23rd Birthday! :)
Scott says
Hi Joseph,
Well done, was this through the FOS or did Satsuma settle without FOS involvement?
Enjoy your birthday.
Scott
Joseph says
Hi Scott, this was through FOS. They rejected my complaint straight away then when I took it to FOS and adjudicator upheld, they accepted, frustrating as don’t see why they would accept FOS and not me but hey ho I won in the end.
sarah says
Hi Sara and followers of debt camel
I complained against QQ in Nov – was rejected in Jan so went to FOS. FOS adjudicator came back to me and I gave them all the information that they needed. The adjudicator emailed me yesterday finding in my favour but advised QQ have till 10th may to come back to me. They stated in the email that QQ may come back with further information that may change their mind but they will let me know. What other information could they supply? It looks like they have sent lots to the FOS. I think they will reject and ask for Ombudsman and lead to a long wait. At least I am on the way. I have 5 other cases with FOS with PAYDAY UK, LENDING STREAM, MR LENDER, 247 & PAYDAY UK
Thanks for any feedback
Iain123 says
You’re right. QQ are known for ignoring adjudicators and appealing to the Ombudsman.
Angela says
Finally after submitting complaints to FOS for PDUK and Provident in Nov 2017 for loans over 6 years old. I have had a response from PDUK refunding me almost £900. Just waiting for Provident, FOS have agreed to look at the older loans but still waiting for them to look at the actual unaffordability
Greg says
Hi I finally have had an adjudicator pick up my case against uncle buck I had 4 consecutive loans with them for £200,£300,£300 and then £125, however they have not upheld my complaint within a few days of picking it up.
(I’ve thought about all of these issues in the individual circumstances of your case, and I
don’t think Uncle Buck irresponsibly provided your loans to you. I’ll now explain why.
I’m sorry to hear that you were struggling financially and that repaying these loans may
have been difficult. But given your loan amounts, what was apparent about your
circumstances at the time and your history with the lender, I don’t think it would’ve been
proportionate to ask you for the amount of information needed to show the lending was
unsustainable.
There wasn’t anything in the information you provided or the information Uncle Buck
should’ve been aware of, which meant it would’ve been proportionate to start verifying
what you were saying.
Finally, I don’t think that the number of loans you took, the amounts they were for or the
period of time you were borrowing meant your loan history, on its own, should’ve shown
Uncle Buck you might’ve been experiencing underlying financial difficulty)
They also said an ombudsman is unlikely to overturn unless I have anything else to say, I take it this is just one to let go?
I mean the money may be small but I was already in a payday cycle and was just using different providers to pay off other lenders
Sara (Debt Camel) says
The sentence about the Ombudsman being unlikely to reach a different decision is standard, it is included in every adjudicator decision so it says nothing about how strong or weak your claim is.
However this doesn’t seem a strong case. It’s common to only get a refund after the first few loans, unless the early loans are either very large or were rolled several times or you had missed payments to them. If the 4th loan had been for £500 say I would suggest that would have been worth going to the Ombudsman level but as it was lower than the first three, I doubt it is.
D says
“However this doesn’t seem a strong case. It’s common to only get a refund after the first few loans, unless the early loans are either very large or were rolled several times or you had missed payments to them. If the 4th loan had been for £500 say I would suggest that would have been worth going to the Ombudsman level but as it was lower than the first three, I doubt it is.”
Sara as regards to.the above, see if you have say loans with four or five other lenders surely even one loan with a new lender would still be deemed unaffordable due to the fact you also had other loans tying up your disposable income?
I may be missing the point but for example, lender A gives you a 1100 loan for 6 months payable at 335 per month, lender B gives you 600 payable at 250 per month for 4months, lender C gives 850 per month for 185 For 12 months. D gives a loan for 8 months payable at 250 a month then surely if the next company gave a loan then it would be pretty much unaffordable with all your day to day bills and living expenses added in? So even one loan would technically be unaffordable?
Sara (Debt Camel) says
Even 1 loan can be technically unaffordable and people do win one loans cases. But that loan is normally large.
A lender only has to make “proportionate” checks on affordability. So in your example if the next lender, lender E is asked for a £150 loan then they have to do fewer checks than if they are asked for £1000.
And it also depends on how recent the loan applications are – if someone applies for a lot of loans in a few days the “last” lender may not see the earlier loans showing on the credit record yet.
I am afraid it is simply easier to win a case where you had 6 loans from the same lender than 6 loans from 4 or 5 different lenders.
In the case above, I said as the 4th loan was a smaller than the others it’s probably not worth pursing, but if it had been bigger it would be.
D says
Thanks sara.
Was just thinking out loud.
Laura says
Does a debt management plan affect any refunds?
Sara (Debt Camel) says
No. Being in a DMP is a great time to make claims as any refunds may reduce the debts in your DMP if you still owe a balance to that lender and if you don’t, you will get cash that you could use to make full and final settlement offers to other DMP debts.
Good luck!