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?
Michael says
I have had an ombudsman agree to uphold loans 2 and 3 from qq, and it says any interest or charges payed on the fourth, the problem is the fourth one was payed in full to Mackenzie hall about 9 years ago in full. What should I be expecting, the original loan was for £500 and payed back 767.75, but on my qq account summary it says I still owe 767.75. I have the emails thankfully still from Mackenzie Hall, any help is appreciated.
Sara (Debt Camel) says
You should expect to get back 767-500 plus about 70% interest on that last loan.
If this is an adjudicator decision, wait until QQ accept it. If it’s an Ombudsman decision, I suggest you tell QQ what you paid and attach the emails to prove it.
Michael says
Thanks for the quick reply
On the outcome it says
Remove all interest and charges applied to loan 4 from the outset. Any payments MrXxX has made towards loan 4 should be deducted from the starting balance
What happened was my mother got note of the mess I was in after dozens of letters were coming in daily, one was from Mackenzie hall asking for the full amount which she paid (had to pay her back over a period of time) but when I got my outcome I have tried to calculate the charges and see it says I still owed this as of 2016, this was paid of in 2010. The company (Mackenzie hall) have now be taken over and it’s just the emails asking for payment and the payment receipt I have. This has been my longest wait (over 3 years because the debts were just outside the 6 years) but now with everything signed I just am not sure what they are going to come back to me saying and how to go about the next stage. I sent my agreement on the 1st and was not sure of the time scale that they come up with there calculations and there payout. I would just like this finished and any help on what to expect or that is greatly appreciated.
Sara (Debt Camel) says
OK, well it sounds as though you may have to prove that the amount was paid and luckily you have the evidence. I hope this gets sorted, but in this sort of situation it is reasonable for QQ to look closely at what was paid, not just settle quickly.
Michael says
Thanks again for replying, so should I contact qq now or wait and see what they have calculated? I sent this on the 1st so have no idea how long I should wait to hear back from them as they will need bank details etc too, what’s a reasonable time to wait? Week 2 weeks a month?
Thank you and keep up the good work
rebecca Johnson says
So three years ago I successfully claimed just under 3k back from Quick Quid however Its only when I’ve looked on My credit file last month that I’ve realised the massive long string of loans from Payday express which were clearly not affordable too.. Last one I can see on my statement is 2012! Yes over 6 years ago but from looking on here I can still put a claim in for refund? I’ve managed to get statements going back to 2009 from Natwest so I can go through these and see when I first took one out.
Does anyone know the correct email address for Payday express?
SIMON127 says
Hi – All complaints for either Payday UK or Payday Express to customerrelations@themoneyshop.co.uk
Mary says
I’ve had a response from uncle buck today that they are not upholding my complaint. I’ve only ever had one loan from them, not sure whether to refer? During the time I had it I did have several other loans on the go with other companies and maxed out credit cards.
Mike_p says
It seems to be quite hard to win a single loan case, the FOS tends to say the first 3-5 loans were reasonable but say that after that they should have noticed that you were becoming reliant on them.
I have an FOS complaint open for a single Uncle Buck loan that they rejected – I escalated it to them when I knew less about the process and I’m not expecting them to uphold it.
Ross says
Hi all
I submitted a complaint to MyJar and received a response 8 weeks later (14th June) offering me £862 on ~2900£ of interest. I responded on 20th June and said I would accept if they added 2 further loans (the biggest, which would take the total to around £2500). I also submitted new evidence and I don’t really see how they can refute this. I asked for a reply within a week or said I would send to FO. I received no response so on the 2nd of July sent a follow up email asking for an update. They replied the same day saying the new information had been added ot my case and gave their apologies for the delay.
What should I do here? Can I continue to hassle them for a date? I have other cases with the FO but they haven’t even received an initial response after around a month. Can I submit this to the FO and still accept a revised offer from MyJar?
Thanks
Pryce says
What are the chances of QQ accepting the Adjudicator decision? Do they tend to make offers at this point or will they let it go to the wire with the ombudsman?
Carl says
QQ rejected my adjudicators decision, so just waiting for ombudsman now :s
PHump says
Adjudicator got back to me to let me know he has decided that the loans were unaffordable etc etc – QQ had until 27th June to reply – they haven’t as far as im aware – what are the chances they will accept the adjudicator decision?
Carl says
QQ rejected my adjudicators decision, so just waiting for ombudsman now :s
GM says
Chances of acceptance are close to none. The Ombudsman is very likely the next step… a few more months wait, unfortunately, but once they get the word from the Ombudsman, they are very quick to pay according to several testemonies.
John says
Hi, I’m looking for some help regarding quick quid and pounds to pockets these are the loans I have had.
14/8/12 p2p 300
25/7/13 p2p 350
6/9/13 p2p 115
6/9/13 qq 250
6/1/14 qq 100
6/3/14 qq 150
4/4/14 qq 141
7/5/14 qq 80
19/5/14 p2p 240
29/5/14 qq 100
26/6/14 qq 150
16/9/14 qq 90
2/12/14 qq 153
31/12/14 qq 54
21/11/15 p2p 500
1/1/16 p2p 800
5/12/16 p2p 600
I have but a complaint in to qq via resolver on the 17th of may this has been escalated they now have 3 days left to reply I didn’t realise at the time that qq and p2p are the same company so will all of these loans be looked at together or should I have done this in separate cases, I dont know if I will get a refund or not or how much if I do would I be expecting to get as not sure how it’s all worked out any help or advice would be appreciated.
Sara (Debt Camel) says
Hi John, 1 complaint or 2 doesn’t matter. It’s best just to wait now and see what they say. You can spend to much time deciding what you would be prepared to accept, it’s easier to think properly when there is an offer in front of you.
John says
Hi Sara,
Thanks for the reply just an update to say qq have agreed to refund me £1940 plus pay of the outstanding amount on a loan I currently have of £384.
They have asked for bank details and have said payment will be made asap when this will actually be I’m not to sure.
M says
Those of you that have a my jar complaint, did you send over bank statements / payslips when requested?
MR says
Hi I did but on hindsight should not have as I had a strong case which they rejected
Sara (Debt Camel) says
If you had a strong case, it can’t have made them more likely to reject if you sent statements. I hope you have sent it to FOS.
A says
I did not provide them when asked and got a rejection but have had 2 of 2 (large £1k+) loans upheld by adjudicator today based on the same evidence.
All the best.
L says
Hi A
My complaint against My jar which is with FOS sounds similar so fingers crossed adjudicator also finds in my favour. I also had 2 loans, 1st in May 2016 for £1000, second March 2017 for £1500.
Wasn’t very confident given it was only the 2 loans.
Sara (Debt Camel) says
the “only two loans” matters if they are 250 and 330 say. But your 2 loans were huge and myjar should have made proper checks.
L says
Thanks Sara, was allocated an adjudicator 6 weeks ago, emailed him for an update and he is hoping to give me a response very soon, fingers crossed
Ross says
I didn’t send them any statements or payslips. I asked them to investigate, based on the information they already held on me. They partially upheld my complaint, offering redress on 4 loans (strangely enough, the smallest 4). The FOS partially upheld my complaint, but advised them to refund on 14 out of 18 loans, which they accepted. However, still waiting for the payment.
D says
So.phonned FOS again for an update regards my LS complaint that was in since November last year.
Still nothing.
What I’m not understanding is how people in here have had their case in since April and May this year and already had a decision regards LS.
There seems to be no rhyme nor reason with how they deal with the cases
Katie says
I put mine in around may last year, around March this year I had an adjudicator decision but LS rejected this and is now waiting for ombudsman to review can’t give me no timeframe as they do it order so they say. so so far it’s been about 14months for mine
D says
Hopefully the ombudsmen finds in your favour Katie.
Does seem weird though that you waited that long yet some complaints in only from may this year have already been awarded and funds in accounts.
Not that I begrudge the members on here their payments it’s more the way FOS seem to be dealing with them
Katie says
I agree I do find it weird too. They did make a mess of mine had two complaints in my name for the same complaint so were sending me information for both and getting them mixed up eventually they worked it out and closed the newest one. I’m just hoping it won’t take much longer with ombudsman this is my last complaint.
Katie says
How long have you been waiting for ombudsman? Mine since 10th June but for LS
Carl says
Since June 3rd – will be a few months yet
MB says
Mine was submitted in February and I’ve just received a verdict from the Ombudsman.
Cj says
So I finally got my final response letter from safety net credit. Gave it today the day it was due . They have said they have lent responsibly . They have taken my partners wage into account even though I borrowed the money and had the account in my name only .they also said that I had over a thousand pound s a month disposable income….I wish then I wouldn’t have needed their money.they also said they knew about other credit commitments including three ccj in my name only the Pay day loans that were also being paid by me but sometimes they take a chance. Lend anyway??? Have a case do you think to take to fos
Cj says
Also my bank account was overdrawn by 4750.00 and has been for t(e last ten years
Sara (Debt Camel) says
how many months did you use them?
Cj says
Almost three years ..you pay back everyt8 e money goes into wound but then I had to reborrow to make it through
Cj says
They kept increasing my credit limit so within 6 months it had gone from 400 to 1000 not a month went by where I didn’t use all credit that was available to me
Sara (Debt Camel) says
Take that to the Ombudsman then! They could see the mess you were in – no excuse really for increasing your limit.
Paul says
Hi guys,
Just an update Regards payday uk, money shop etc. I have been paid today so all seems well. Long may it continue, best of luck everyone, keep at it!!
Katie says
Does anyone know the average time for an ombudsman to do a final review of a complaint?
Mary says
I emailed payday U.K. 2 months ago to get a lift of loans etc… still no reply?!
Iain123 says
Did you use the template letter on here? They’ll send the list of account transactions with a response. No harm getting on to them, see where you stand.
Mary says
Yeah, they are the only ones that haven’t responded. I’ve emailed them again so we’ll see what happens
Sue says
Hi Sara,
MyJar have rejected my complaint, do you think it’s worth FCA.
I borrowed 4 times about £4000 in total over 3 years.
Each time I borrowed within 24 hours of paying off one loan.
I was paying huge repayment to them of about £320 a month. No arrears and paid in time.
I had multiple payday loans at the time of each loan.
Sunny awarded me redress really quickly but I did continuously borrow for 4 years.
Many thanks
Sara (Debt Camel) says
Definitely send it to the Financial Ombudsman. Not many loans but they were huge, so Myjar should have checked thoroughly.
Tricia says
Adjudicator ruled Moneyboat should pay charges and interest back on loans 4-9 , gave them till July 1 st but they didn’t respond. Assume it goes to ombudsman now, any idea how long this could take please
Zoe says
Not necessarily, most of the pay day companies are asking for longer than the 14 days just down the sheer volume of decisions going against them via the FOS . I’d speak to your adjudicator to get an update. It’s more than likely they haven’t been able to deal with your case yet. As your adjudicator will normally tell you if the company reject their decision and then it has to go to the ombudsman you should be made aware of that. I’d take no news as good news for now and get an update from your adjudicator
Joanne says
Hi
I’ve just had an email from an adjudicator saying they are upholding my complaint against QQ, I know the likelihood is they will not agree and it will have to go to the ombudsman but I just wondered have they EVER agreed with the adjudicator or is it basically 100% they won’t?thank you
Iain123 says
Can only relate my experience. Adjudicator gave them two weeks to respond, they replied within a few days rejecting decision and stated they were appealing to an Ombudsman.
I borrowed extensively from the payday lenders, most have settled due to clear cut irresponsible lending.
I’ve been on this forum since September and don’t recall good news around QuickQuid.
Joanne says
Yeah, it’s what I expected to be honest, it’s just so frustrating that they can be so difficult and drag out the whole process! But I suppose it’s just a waiting game. Thanks for your reply.
Karen says
Hi all
I got my refund from money shop yesterday after a long wait the whole claim took over 12 month with FOS then it went to the money shop I didn’t accept the first decision and won the second decision when it went to finale decision with the FOS it took 10 days to get my refund I rang this number 01903768769 for customer relations for the money shop
Good luck to all what waiting to get there money back hang in there and don’t give up
Glen says
Morning All,
Having started this on the 1st May and literally having had my life turned around in that period. Would just like to re-thank Sara and all who have updated and shared their experiences across the various companies. So far to date:
MrLender: Redress £2169 and £1600 balance cleared – No FOS
Cashfloat: Redress £362.57 – No FOS
SafetyNet: Redress £5834 and £1300 balance cleared – No FOS
UncleBuck: Redress £1650 and £800 balance cleared- No FOS
Wizzcash: Redress £217 -No FOS
Amigo: Redress £9765 and £6000 balance cleared – No FOS
Sunny: Redress £3454 and £950 balance cleared – No FOS (But 30 day wait until payment)
247 Moneybox: Offer £1200 and balance cleared but counter offered – No FOS (But now gone quiet and cannot get an answer)
Satsuma – Passed 8 week mark, still havent sent my statement of loans since 1st of May despite chasing 6 times, and keep saying “Another 14 days”.
PDUK/PDExpress – Passed 8 week mark.
MyJar – Not upheld -Gone to FOS
118 – Not Upheld- Gone to FOS
RE: 247 and Satsuma,is everyone else finding these issues? Dont know what to do about 247 as that was 2 weeks ago now. Satsuma is just patience I guess.
RE: Sunny, anyone know why its taking them 30days? They can pay a loan in 10 minutes
Thanks again to Sara and all
Sian says
I am now on my 10th week with Satsuma and they have asked for another 14days – this has gone to the FOS!
Danny says
Hi Sara
Sent emails to about 7 lenders using the templates on 31/05/2019, acknowledged by all and so far only had final response from MyJar rejecting my claim. Took out 6 loans over a 12 month period totalling £7,750 so have sent to the FOS.
The biggest one I have was 47 continuous loans with Sunny totalling about £14,000 over 3 years, interest repaid on them close to £12,000 continually topped up mid month, am I right in thinking that if they offer me a low offer of say less than £4,000 I should send to the FOS?
I’d effectively used payday loans every month since around 2014 so had a long list of borrowing, finally cleared everything down last month and haven’t borrowed since December 2018, won’t make the same mistakes again!
Joseph says
Sunny will reject, they are awful, be prepared to send to FOS
Si says
A little help please :
I have received a final response from Uncle Buck that I do not want to accept I will send to the FO
I need to send my credit report the loans relate to 2014 how do you go back in time to get your credit file from that time?
Is that what they require of the current credit file?
Joseph says
If you just download your credit file now it will show all your accounts on their, when they opened, and what their balances have been since you opened that account. Good lukc!
Si says
thanks I just think there are historical CCJ that were on my file at 2014 that maybe don’t show now but I guess you cannot get a report to go back in time
I saw some thread before about using a particular credit report for the HO and a way to download it but cannot find the thread
Sara (Debt Camel) says
If the CCJs were in 2012-3 they may no currently show on your credit record but they would have been relevant to a lender. (Before 2012, a payday lender probably wouldn’t have paid much attention to old CCJs.)
Do you have any old paperwork relating to those CCJs? If you do, send that to the Ombudsman as proof of what UB would have seen if they had looked at your credit record properly.
Si says
Thanks I can see a ccj registered in the middle of the lending from Uncle Buck so will include that, they will not uphold the lending on my final loan number 10where they added the most interest and say because they sold the debt it is nothing to do with them even though it was paid in full after Ccj for 3 times the amount ☹️bizarrely they will only redress the loans 6-9
Sara (Debt Camel) says
So you want to ask the Ombudside for the CCJ to be “set aside”, assuming the last loan that led to the CCJ is included in the refund. UB can talk to the debt collector and arrange this. Or you can apply to the court, in which case you want the redress from UB to include the fee for this application.
Stu says
Hi, what process do we use for high interest credit cards? Capital one, aqua,. And my rbs credit card
Sara (Debt Camel) says
https://debtcamel.co.uk/refunds-catalogue-credit-card/
Glen says
I got a redress from Sunny wihtout FOS for very near what I wanted and that was including the balance clearing. Only problem with them is they say payment of the funds takes 30days :/
Mike says
When did you accept the offer glen?
Glen says
Hey Mike,
I had the offer on the 26th June.I then chased a few times to get them to confirm they received my email to say I accepted the offer and my bank details. They replied on the 5th July to say they had my bank details
Cheers
Glen
Michael says
Hi Guys,
Just thought id give an update on my Piggybank claim,
This relates to the following loans.
16/03/2015 – 200 – Interest – 17.6
09/04/2015 – 300 – Interest – 36
18/05/2015 – 400 – Interest – 35.2
05/06/2015 – 300 – Interest – 50.4
07/07/2015 – 350 – Interest – 67.2
07/08/2015 – 150 – Interest – 25.2
08/09/2015 – 200 – Interest – 27.2
01/10/2015 – 300 – Interest – 69.6
09/11/2015 – 100 – Interest – 14.4
07/12/2015 – 100 – Interest – 8.8
12/01/2016 – 250 – Interest – 20
02/02/2016 – 150 – Interest – 28.8
03/03/2016 – 400 – Interest – 70.4
04/04/2016 – 200 – Interest – 40
17/01/2017 – 200 – Interest – 16
30/01/2017 – 100 – Interest – 4.8
13/02/2017 – 100 – Interest – 8.8
03/04/2017 – 100 – Interest – 1.6
07/04/2017 – 155 – Interest – 26.04
09/05/2017 – 300 – Interest – 24
19/06/2017 – 200 – Interest – 17.6
18/07/2017 – 100 – Interest – 8
06/11/2017 – 400 – Interest – 32
07/02/2018 – 650 – Interest – 279.48
Received the response today 7 weeks after the original complaint.
They have offered the interest plus the standard 8% on loans 4-14
Total of £534.69
This will be used to clear the remaining balance on the last loan £324.94, giving me a cash refund of £209.75
In total I have paid £929.12 in interest so I’m getting back around 70% of this which is a result.
Thanks
Mike
Mary says
Just had this from safety net
Therefore, we propose that we redress all the interest that you have paid (£1042.01), plus statutory 8% interest (£75.53). In line with HMRC guidelines we will deduct 20% (£15.11) from your statutory interest and pay this to HMRC, meaning that you will not have to declare this redress in your tax returns.
We will then write off any interest on your outstanding balance (£227.35) and deduct your principal outstanding balance (£682.10) from all the interest you have paid. This will allow us to close your account, discharging your liability with SafetyNet Credit, and leaving an amount of £420.34 payable directly to you. Any adverse markers in relation to this SafetyNet Credit Account will also be removed from your credit file.
Chris says
Hi Sara / Everyone
I just had a final decision from payday express, I have approx. 30 loans continuously from 2011 to 2014 paying circa 8000 in interest, they have offered to refund 5 loans during 2013 which works out a total refund of approx. 2.4K.
With the unknown circumstances around whether the company will go into liquidation I am thinking of accepting the offer, does anyone have any experience of negotiating with this company as I also feel like I should push back and try and get a few more of the loans added as there is no sense around why they have picked 5 loans in the middle of 2013.
I’m leaning against going to the Ombudsman given the time and the risk of the company going bankrupt imminently.
My last question is, if I accept this offer and the company go into liquidation will I only be entitled a proportion of the £2.4K I accepted or will the full interest be taken into account by the company handling the liquidation?. As even at say 10p in the pound £8K is quite a lot more than £2K.
Any advice much appreciated.
Thanks
Chris
Mike_p says
They would work out what you should be entitled to, but what you actually got would depend on how much money there was available to distribute.
Sara (Debt Camel) says
“if I accept this offer and the company go into liquidation will I only be entitled a proportion of the £2.4K I accepted or will the full interest be taken into account by the company handling the liquidation?” That would depend on how the administrators decide to handle claims. Both Wonga and Wageday Advance administrators are imposing their own calculation methods – they just run your case through the calculator and if you had settled for less, you would be an unsecured creditor for the extra bit. I can’t say that all administrators would take the same decision.
But to point out the obvious, 10p in the pound on £8,000 is only £800…
chris says
Thanks for your responses, to clarify my point regarding the 10p in the pound is that £800 is significantly more than £200 to me. Difference between what I would be accepting at £2K and potential total interest paid at £8K.
Just wasn’t sure if by accepting the £2K I am essentially reducing the amount I would get if the company goes into liquidation whether its 5p 10p or 20p in the pound.
Thanks
Chris
Sara (Debt Camel) says
ah I see.
“wasn’t sure if by accepting the £2K I am essentially reducing the amount I would get if the company goes into liquidation whether its 5p 10p or 20p in the pound.”
If the administrators follow what Wonga and Wageday Advance once have done, then it wouldn’t matter if you had accepted the 2400. But I suppose it’s possible that other administrators would regard your case as “sorted” and not reassess it. And of course we don’t know if Instant Cash Loans is going under or, if it is, when or what form the liquidation/administration would take.
Too many unkowns to make any decision taking easy.
chris says
hi guys – its been a week since an adjudicator ruled in favour of refunding interest on 3/7 loans from lending stream.
my adjudicaotr will keep me in touch as hes dealt with about 5 complaints with other lenders.
how should i get LS to reply back to the finding, should i ring them or email them. or leave a bad review on trust pilot?
thanks for any guidance.
Mike_p says
What did your FOS letter say? Mine gave a specific date they should reply by, which was about 14 days after the date of the letter.
Sara (Debt Camel) says
the adjudicator will have given them a deadline – probably a couple of weeks? Just wait until that has passed, you can’t speed this up.
chris says
hi sara
it has passed, they had to reply by 02.07.19 and my adjudicator emailed me last Thursday saying they will chase them up.
Sara (Debt Camel) says
then leave them a bad review on Trust pilot: https://uk.trustpilot.com/review/lendingstream.co.uk
J says
Hi Chris – Last week, just a few days after the 14 day deadline LS agreed in full to the adjudicator’s findings for me. I would suggest giving it a couple more days? Soon after they agreed they emailed me directly to confirm and payment arrangements. It might be worth just hanging on for a day or two as they may just be a couple of days behind due to volumes of complaints. J
Katie says
Hi Sara, apologies if this is covered elsewhere, but has there been any success with complaints against Lend UK? I can’t see any discussion of this lender?
Sara (Debt Camel) says
It is a brand name of United Kash who still seem to be in business as a debt collector. I suggest you send a complaint to chris@unitedkash.com.
Ross says
MYJAR have emailed me, today, to advise that my loan is now paid off. The remaining capital owed was £126.84, which is being deducted from a redress payment of £1497.43. However, I have heard nothing at all, with reference to the refund owed? I would’ve thought that, on the same day they closed the loan, they would also at least make contact about the refund? Has anyone else had experience with MYJAR like this please?
Chris says
Not sure they can ask you to accept an offer BEFORE they have calculated what it is! I would get straight back to them and say that. They have to give you a figure before you accept.
Paula says
I thought that so asked them to confirm. They said their processing department would be in touch within 30 days.
Bobby Reds says
Hi there,
247 MoneyBox in calculating my refund due from 8 loans have said:
“Over loans 1 to 7, you have paid interest of £276.54 (the figure you have calculated). However, this does not take into consideration loan 8. For loan 8 you have borrowed a total of £343.00 from us, and repaid a total of £200.00 to date. This means that you have an outstanding principal amount of £143.00, as redress is calculated from interest and charges paid over the principal amount funded. Therefore, across all your loans you have repaid a total interest of £133.54 (£276.54 – £143.00).”
Is this how it is calculated? Shouldn’t 247 Moneybox write off loan 8 and refund me the full £276.54 + 8% interest?
Any advice is greatly appreciated.
Sara (Debt Camel) says
Assuming the Moneybox figures are correct, then they are right. the Ombudsman will say for the last loan that you should repay what you borrowed, but no interest. So if you have only paid 200 so far and you borrowed 343 (that seems like an odd amount?) then there is still 143 to pay.
So that 143 will be taken from the refund of the interest on the earlier loans.
Bobby Reds says
Okay thanks for that information Sara,
And yes that odd amount of £343 that I borrowed from them is correct.
Greatly appreciate your response on this matter.
David says
Hi all and thanks for all the great advice on here. I had an adjudicator decision on sunny and they had till Thursday 4th to get back to the FOS. It’s now Tuesday the 8th and I still haven’t heard anything from Sunny or the adjudicator.
What is my next step?
Even if Sunny haven’t contacted FOS, is it just a case of waiting for the adjudicator to get back to me to tell me my next step?
Sara (Debt Camel) says
Leave them a bad review for very poor and slow complaint handling on trust pilot https://uk.trustpilot.com/review/sunny.co.uk
David says
I did that on Friday Sara. But I have just left another one
Micky says
Hi, would like some opinions on the following in regards to getting sunny to pay quick and accept the outcome.
The Adjudicators upheld my complaint with sunny for loans 7-37 and have emailed sunny and myself. I was thinking of following up with sunny using the below in the hope to get them to agree and pay quicker
Following on from the attached response from the adjudicator, I have calculated the following (using the attached spreadsheet originally sent to me by yourselves).
Total Interest Paid (loans 7-37): ££££
Outstanding Balance loans 34 & 35: ££££
Deducting the balance owed by myself from the interest and repayment outlined by the adjudicator this leaves £££££ without any statutory interest applied.
I am willing to not only have the statutory 8% interest wiped from the balance, but to also settle for a lower amount should you pay the balance within the next 48 hours from the date of this email.
The amount i will accept for payment is ££££ (couple hundred off the amount owed by sunny). My bank details are listed above with my credentials. Please do confirm back to me with your decision.
Should you not accept the above offer or make payment within the next 48 hours, then the statutory interest of 8% will be due alongside the full amount outlined above.
Do you reckon this would be a wise tactic or something that may harm the claim and cause them to reject everything and escalate to the FOS
Sara (Debt Camel) says
I think Sunny will ignore it. Either they will not agree with the decision, in which they will want it to go to an ombudsman or they will agree and will pay out in full.
they will also have set procedures for calculating the refund. it would take someone a while to check your spreadsheet, they aren’t going to spend the time doing this. And payment processing will be done in batches. they are unlikely to want to set up a special arrangement just for you.
Tom says
Hi Sarah,
Just for a reply from QQ, they have refused my claim. They said that during times of these they believed me to have sufficient disposable income / gap between lending. My argument was I was using multiple lenders.
Do you think it’s worth me going to fos, qq seem pretty adamant i dont have much of chance.
Date recieved:7/29/2014
Amount: 350
Interest: 250.75
Paid off: 10/31/2014
Date recieved: 11/25/2014
Amount: 50
Interest: 11.04
Paid off: 12/24/2014
Date recieved: 2/3/2015
Amount: 100
Interest: 108.8
Paid off: 3/31/2015
Date recieved: 4/6/2015
Amount: 650
Interest: 397.8
Paid off: 6/30/2015
Date recieved: 7/25/2015
Amount: 250
Interest: 483.6
Paid off: 10/29/2015
Date recieved: 12/28/2015
Amount: 250
Interest: 156.31
Paid off: 2/29/2016
Date recieved: 3/19/2016
Amount: 200
Interest: 149.28
Paid off: 4/29/2016
Date recieved: 6/4/2016
Amount: 200
Interest: 163.6
Paid off: 7/29/2016
Date recieved: 9/17/2016
Amount: 200
Interest: 19.2
Paid off: 10/31/2016
Date recieved: 10/10/2016
Amount: 200
Interest: 29.2
Paid off: 11/30/2016
Date recieved: 2/26/2017
Amount: 150
Interest: 2.4
Paid off: 2/28/2017
Date recieved: 3/14/2017
Amount: 100
Interest: 165.6
Paid off: 4/28/2017
Date recieved: 6/22/2018
Amount: 150
Interest: 276.6
Paid off: 9/28/2018
Thanks in advanced
Sara (Debt Camel) says
QQ are always adamant when they reject a case. That doesn’t mean they are right. Obviously it’s not the strongest case, but that is a lot of borrowing over the years, and a few runs of borrowing in consecutive months. I think it’s worth taking to FOS.
Tom says
Thanks for the reply. Another annoying thing is their chart doesn’t show when I topped up a loan
Also noticed a couple of loans there the interest is more then the initial amount…for e.g
Date recieved: 7/25/2015
Amount: 250
Interest: 483.6
Paid off: 10/29/2015
Sara (Debt Camel) says
oh! could that have been topped up? so you actually borrowed more than 250?
Tom says
Maybe however that second figure was under interest and fees…since they deleted all my loans all I have to go by is that figure
Iain123 says
Bank statements will show when you topped up or paid the interest?
Tom says
Only thing that was 4 years ago and the account is closed
Sara (Debt Camel) says
You can get bank statements from a closed account – for not 4 years ago thus should be any. I suggest you send the case to FOS now and set about getting those statements.
AH says
Hi all,
Will lending stream tell me once they have sent my refund across or do they do it and don’t tell you? I can’t seem to find anything saying they will tell me.
Thanks
AH
A says
I’m 2 weeks in to the 28 day payment period and they have asked if I want to be paid in to the account they have with me (which is a yes so should be simple) but I heard nothing after I replied.
I did notice on the email from them that they will provide a certificate of the 20% retained for HMRC, so assume they will send that once the refund has been sent.
From keeping an eye on this thread I think they tend to process payments on the 3 week mark.
Joseph says
LS asked for my bank statement and had paid me on the 11th day. I kept chasing them every day so might be worth becoming a nuisance
Andrew says
Hi Joseph what number was you ringing to chase payment for LS
Steve says
Success! After the FOS adjudicator upheld my complaint about 11/16 loans, Lending Stream have agreed! They have offered £4790 and removal of the 11 loans from my credit file! Never thought I would get this far after the initial rejection! What happens next? The person at the FOS said they do not get involved in the payments, but how do I provide new bank account etc? How quick are LS to pay out?
1 complaint down 2 more to go. P2P and PDUK both with Adjudicators. Hoping PDUK dont go under as thats inline for a massive pay out if upheld.
Joseph says
Lending stream accept adjudicators decision like yours. Why why why then outright refuse and then accept adjudicators decision still confuses me to this day, what’s the point!
Iain123 says
Some people just give up, don’t take it further. Saves QQ a fortune.
Mike_p says
How long did it take them to respond to the FOS decision? I’m waiting for them to respond to mine.
Steve says
Hi Mike
Total of 3 weeks after decision. FOS gave them an additional 2 week extension to the standard 2 weeks. Hopefully you’ll get it soon. I was very surprised they agreed.
Ruth says
Has anyone had any issues with PaydayUk?
On two occasions I have submitted my complaint. The first time they said they could not find my account based in the information I had given and asked for some more info which I gave. They then asked me to resubmit. I did so including all the information from the start. I have just received a generic response requesting that same information.
Don’t know what I am supposed to do? I don’t have copies of all my loan agreements from them, only one. I obviously have bank statements etc. Do I just go to fos or will paydayuk say the same to them?
Sara (Debt Camel) says
There gets to a point where you have to go to FOS. Have you tried getting through to PDUK on the phone/
Emma says
I submitted a complaint on the 2nd and it hasn’t been acknowledged. I emailed again yesterday with original complaint included in email to ask for confirmation and still nothing!
Mary says
Same here, haven’t acknowledged my complaint from 2 months ago when I asked for a list loans etc.
Mary says
Does anyone had any dealings with ferratum? Now other the 8wk mark and not heard anything. I have emailed again to chase but still nothing.
Mike_p says
Try the online chat. I’d heard nothing after about 10 weeks desptite sending an email to chase them up. I spoke to someone on their online chat and they looked into it and said I’d have a response that day. An hour later I had an email offering to write off my £750 loan and give me £250, which I replied to and accepted. Half an hour later I had an email saying my loan had been closed and 2 hours after that I had £250 in my account.
Mary says
Thanks, it worked! They have offered 180, I have paid just over 650 in interest?
KK says
Hi All & Sara
I just thought I would update on my progress. I received final a response from Mr Lender. They said that they did not uphold my complaint but that as a gesture of goodwill, they would write off the balance I owed them and they have removed the negative information from my credit file. I am happy with that outcome.
Uncle Buck have not upheld my complaint. There was no negative information on my file from them but they have today offered to refund the interest I paid and they have added statutory.
Sunny – Outright refused to uphold or discuss the situation with me at all. This one is with the FOS
My Jar – Not upheld but have said they will review it again if I send my bank statements and a copy of my credit report which has been sent over today.
Satsuma – Not upheld and will not review – This on is with the FOS.
Quickquid – Not upheld. They said in their report that my borrowing in the lead up to them lending was not high or frequent. I am going to send them my credit file and bank statements.
118118 – Final response is due by 16th July.
Sara (Debt Camel) says
QQ won’t negotiate – don’t waste your time, send that one straight to FOS.
GM says
PDUK case update. Sent to FOS on 29/10/18, Picked up by adjudicator on 05/07, upheld 09/07 and waiting for reply from business. He advised that PDUK is taking longer than the two week deadline for a reply and it is taking 6 weeks in some cases.
All loans were more than 6 years old, some from 2008 others 2010-12. £925 + the statutory interest (not yet calculated).
Fingers crossed, i’ll get paid at the end of september…
Holly says
Hi all I have just had a case picked up by FOS and they’ve asked me for the below
your bank statements for all accounts showing your income and outgoings covering the period from three months before your loan(s) until one month after the date you took it/them,
a copy of your credit file,
the date you took out the loan(s) and the amount of each loan you’re complaining about,
your customer reference number with Gain Credit LLC, if you have it.
How do I get a copy of my Cedit report I’ve been told I can get it off credit karma but I can’t seem to do it online also what’s gain credit LLC?
Thanks in advance x
Ross says
Hi Holly,
I believe Gain LLC is the parent company for LS (assuming that’s the company you’ve complained about?). You can easily obtain your credit report on Credit Karma. Log in, and choose the ‘print’ option. You just need to save it as a PDF. If you download Cute PDF writer, this will convert it in to a PDF attachment, which you can save and send to the FOS. Hope this helps?
Mike_p says
Gain credit are Lending Streams parent company. My FOS documentation says “Mr X’s complaint about Gain Credit LLC (trading as Lending Stream)”
Si says
so just to add to the issue I have , I sending my case to the HO however have just found out by a bit of investigation that 1st Stop Recoveries Ltd who entered the CCJ on the debt of Uncle Buck have been struck off as a company in Jan 18 so it will be difficult I am guessing to get it removed any further thoughts, if I win the HO case that is
Sara (Debt Camel) says
I assume you mean FO not HO? Just take the complaint forward and see how it goes. I suggest you talk to National Debtline on 0808 808 4000 about how you would apply for a set aside in this case.
PS please don’t put anything in the website field when you leave a comment. is intended for people who have their own website.
katie says
My complaint is waiting for ombudsman final review the adjudicator agrees that loans 6-17 shouldn’t of been given. Ive finally got my list of loans from LS only took a year and I’ve noticed on the loans 1-6 I paid alot of interest back. Eg loan was 115 paid back the 115 plus 120.75 interest do you think i should get the ombudsman to also consider the loans 1-6 or will it mean the whole process will have to start again
Sara (Debt Camel) says
So the complaint is going to an Ombudsman because LS disagreed with it?
Katie says
Yes that’s right
Holly says
Thank you Ross I will try again later does it have to be google chrome ? And on a pc?
Ross says
You’re welcome. Yes, use Chrome and either a laptop or desktop PC.
Michael says
Hi All,
Just update for my SNC complaint,
I have just received all offer on the final day of the 8 week since the initial complaint.
They ruled the complaint was valid.
Are wiping the remaining balance £325, returning any interest paid plus 8% and removing any negative marks on my credit file
Great result.
Thanks for all on this thread, its been a massive help
Aymen says
Hi Michael
Congratulations for winning your complaint.
I am half way through 8 weeks with SNC.
Do mind if I am asking how much was your balance? And how much you get refunds?
I am trying working out mine that’s all.
Thanks and congrats again
Well done 👍
Mary says
I got this yesterday which was the 8wk mark
Therefore, we propose that we redress all the interest that you have paid (£1042.01), plus statutory 8% interest (£75.53). In line with HMRC guidelines we will deduct 20% (£15.11) from your statutory interest and pay this to HMRC, meaning that you will not have to declare this redress in your tax returns.
We will then write off any interest on your outstanding balance (£227.35) and deduct your principal outstanding balance (£682.10) from all the interest you have paid. This will allow us to close your account, discharging your liability with SafetyNet Credit, and leaving an amount of £420.34 payable directly to you. Any adverse markers in relation to this SafetyNet Credit Account will also be removed from your credit file.
Michael says
Hi Aymen,
Here’s the script they sent to me, Seems to be a lot of success with SNC so fingers crossed for you too,
Therefore, we propose that we redress all the interest that you have paid (£403.39), plus statutory
8% interest (£29.58). In line with HMRC guidelines we will deduct 20% (£5.92) from your statutory
interest and pay this to HMRC, meaning that you will not have to declare this redress in your tax
returns.
We will then write off any interest on your outstanding balance (£67.59) and deduct your principal
outstanding balance (£257.25) from all the interest you have paid. This will allow us to close your
account, discharging your liability with SafetyNet Credit, and leaving an amount of £169.81 payable
directly to you. Any adverse markers in relation to this SafetyNet Credit Account will also be
removed from your credit file.
Mike
John says
Hi Sara
I need your advice please on the below from satsuma ??
I can confirm that you were given incorrect information by the operator you spoke to on the 1st July 2019, in which he incorrectly advised that your complaint had been upheld and the interest applied to your loan had been written off. Please accept my apologies for the service you received.
Sara (Debt Camel) says
So what has happened to your complaint? what stage is it at?
Alison says
Hi many thanks for a great site
Is there any info on cashasap ?
Do they generally make offers or decline complaints
many thanks
Sara (Debt Camel) says
They are a small lender, so not many comments. From what I remember:
– they aren’t good at sending a list of your loans
– some people have said they quote you as having paid interest which sounds too low, so double check what they say
– they used to be very aggressive in trying to get people to drop complaints, saying you lied – I hope they have given that up
– they make pretty low offers but you can talk them up a bit. If you had a lot of loans from them, expect to have to go to FOS.
SIMON127 says
Hi
I recently accepted an offer from cashasap, they agreed to refund interest on 50% of the loans I had which equated to £1,000. They don’t add 8% statutory interest.
Accepted the offer as I didn’t want to go through the wait of the FOS which can be 12 months for the sake of an extra £800.
Don’t expect a full and final response until the last day of the 8 week window! However, they will payout straight away when you accept the offer.
Ele says
They didn’t uphold mine but offered £25 good Will gesture. That was 4 weeks ago. I emailed back straight away asking them how much interest I paid in total and for a list of loans and still waiting even for an acknowledgement. Sent numerous emails since and now said they have 5 days to respond or I am sending to FOS
Ele says
Hi all does anyone know what this means? What are they actually proposing that they pay me back?
Sunny:’To put things right, we propose to do the following:
Calculate the interest paid by you from your 37th loan onwards £2459.75;
Pay interest of 8% (simple) on the above refund amount from the dates of payment to the dates of settlement, which comes to £372;
Amend your credit file by removing all loans from your 37th loan onwards
Please let us know if you wish to accept this offer and provide your sort code and account number by return email so I can arrange for the redress payment to be made to you. Once we are in receipt of these details, please allow 30 days to receive the payment’
Thanks everyone
Sara (Debt Camel) says
they are offering to pay you a refund on all your loans from loan 37. The interest on them comes to 2459 and they are adding 372 statutory interest, so that would be a total of £2831.
They haven’t mentioned that you owe them any money, so I assume you repaid all the loans.
Unless the first 36 loans were very small, this sounds like a poor offer… do you know how much interest you paid on the first 36 loans?
Ele says
Thank you. I had 43 loans in total so they are hardly refunding any. Despite me asking in my original email nearly 16 weeks ago when my complaint started with them (they kept putting it back) for details of all my loans – they still haven’t provided this. So I have no idea what my total interest paid was. I think I should find out what it was and then make a decision. As only refunding loans 37-43 doesn’t seem like a good offer?
Iain123 says
It’s not a good offer. The FOS could make them refund loans 6-43. So complain today and by Christmas you’ll be £££££.
You can’t accept the offer and complain to the FOS about the other loans. The only risk is if they go into administration.
Sara (Debt Camel) says
I agree with Iain, it sounds very poor. It is a shame you didn’t go to FOS at 8 weeks.
Ele says
Hi all
I am jut worried if they go into administration I could be losing a lot of money which would help me pay other debts. Is there any suggestion of this with sunny currently? It is just so unfair with how long the FOS taketo pick cases up as you always have that risk. It should be the case that they have to uphold if you’ve passed it on to FOS and they go into administration at that time.
I have asked them what I have paid in total in interest as they have not provided this information. Given that from loans 37-43 it was 2400 approx then I am assuming this could be huge figures.
Is there information on here about how you submit to FOS
Just to add I did have a gambling problem do you think there is a risk that FOS will not uphold any?
Sunny are saying they will only uphold from loan 37 because that’s when I began making late payments but they still continued to lend to me up until I stopped at 43 and sorted my gambling problem out.
Thanks for your help guys
Mike_p says
Going into administration doesn’t absolve them of what they owe you, but if the money isn’t there then there is no way that everyone can be paid the full amount owed.
Ele says
Thanks everyone
Yea I understand that but it’s a tiny fraction we would receive back isn’t. My worry is how long FOS are taking to pick this up. I paid approx £5050 total interest across all loans with one of my bigger interests at Loan 24 of £985. I might go back and ask if they will go from then. If not send to FOS. It’s such s tough choice as their offer is such a lot of money to me right now.
Anybody’s thoughts are very welcome on what they think I should do
Ade says
I tried to reason with sunny. I took 90 loans out and they would only refund after 18 months of borrowing. They would not compromise at all. So i sent to fos in june and to be fair they’ve emailed back asking for all my documents and have been in touch with sunny to get all there paperwork. So hopefully it may get sorted quickly.
Sara (Debt Camel) says
There is NO point in trying to reason with Sunny, you just waste your time and get frustrated.
Sara (Debt Camel) says
Sunny are owned by a US firm called Elevate. It is listed on an American Stock exchange, so the company has to publish detailed quarterly accounts. There were no comments in their last one (late April) at about the level of UK complaint refunds being too high or unsustainable. If you compare this to Wageday Advance, which went into administration in February, their US parent had clearly signalled in October 2018 and then in January 2019 that the costs of paying refunds were too high.
Obviously I can’t say that Sunny won’t go under, but there is a lot more visibility about US listed companies and so far there isn’t any sign of it having problems.
Bogdan says
Hi Sara
I have spoken to my bank about those bank statements for the MyJar complaint and I was told they can only provide statements from 2012-2013 onward because of the new GDPR rules.
I suppose that if someone like me has loans taken from before 2012-2013 they will have been deleted along with any other records/information about that person because of GDPR rules that state all personal records must be deleted from systems after 6-7 years have passed.
Can you confirm please?
Thanks,
Bogdan
Sara (Debt Camel) says
“GDPR rules that state all personal records must be deleted from systems after 6-7 years have passed.” no, that isn’t what GDPR says. Many banks and lenders are keeping information for much longer.
Bogdan says
Then why NatWest told me they don’t have access anymore to my statements before 2012 ?
I was told that’s as far as they can go. They blame GDPR for that.
Sara (Debt Camel) says
Different lenders and different banks are taking different approaches. You shouldn’t assume that all lenders will have removed details of older loans.
ClaireR says
I have got my GDPR info from my QuickQuid account today, and has all loan contracts going back to 2011 available.
PF says
Hi Bogdan – I have been trying to get my statements from a closed NatWest account from 2008 and after being given the runaround for a couple of weeks – I then completed their online complaint form, explaining that I felt I was being treated unfairly by not being given access to my statements. Today a lovely lady from their complaints department called me and looked into my complaint and has requested the statements be delivered – although she did say although she has requested the statements she cannot guarantee I will get them all but she will call me again next week with an update – so fingers crossed.
Iain123 says
Go above branch staff. I wrote to Santander Head Office with a polite request for older statements. Three weeks later I received several extra years worth of statements, crucial for my complaint.
Don’t give up, banks don’t throw anything away. A polite request won’t do any harm. Good luck.
Chris says
Brilliant news from my claim against Lending Stream. After a six month process from initial complaint to adjuacator decision, the adjuacator has settled in my favour with a £3500 refund!! Thank you Debt Camel!!!
How long do Lending Stream normally take to process this after an adjuacator decides this? It’s been a week so far and I imagine they’ll stall as long as possible. Anything I can do to chase them up? They already have all my bank details from their settlement letter so not sure why it would already take this long?
Katie says
Did lending stream agree with your adjudicator decision? Adjudicator normally gives them two weeks to agree or disagree then from what I have read if they agree it can take up to 28 days for refund
Chris says
Hi Katie,
Yes they agreed with the Adjuicator. It says the Adjudicator has asked the business (LS) to contact me to arrange the refund but they already have all my details that they need. Just worried it will stall and stall now…
Sj says
Hi Chris
How many loans In total did you have with LS?
I’m awaiting the adjudicators decision been waiting a month.
You had such a great result
Emma says
I have just had a reply from LS (I only made complaint last week). I had 6 loans with them of £1070 total and they have rejected them all Barr the first loan stating that was marginally unaffordable. They have offered me £397. I sent them bank statements, credit report and loan information from another company I was using at the time. I feel they haven’t even looked at this! Have written back to them saying I want them to look at all time information and if they felt the first loan was unaffordable then why loan to me again?? I hope I have done the right thing?
Sara (Debt Camel) says
There is no sign that LS ever read what you send them I suggest you sen the case straight to the Financial Ombudsman.
Emma says
I have emailed them back but I am just composing an email Ito FoS now. I have included all the information I gave to LS and the email with the offer they gave me. I hope that will be enough for them.
andrew jeffrey says
Hi Sara
i got this a reply from mr lender. seems quite cheeky of them considering how morally dubious they are? what should i reply?
Andrew
Dear Andrew,
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
Sara (Debt Camel) says
I suggest you reply “I have already sent you an affordability complaint on dd/mm/yy/. It will be going to the Financial Ombudsman 8 weeks after that date if you do not make me a reasonable offer. I knew the loans were unaffordable as I remember having to keep taking new ones out because replaying the previous one left me too short of money.”
andrew jeffrey says
hey Sara thanks for your help i did that and they said
Dear Mr Jeffery,
Thank you for your email.
Please be aware on the 7th June 2019 we received a statement request from you in which we provided on the 17th June 2019.
Within the statement request you stated the following:
‘I am making a complaint to you about irresponsible lending. To help me explain the details, I want you to send me a list of my loans, showing for each loan when it was taken out, how much interest and charges you added and what I repaid’.
Therefore, in order for us to investigate your account further, could you please provide us with more details as to why you have been dissatisfied with the service you have received from Mr Lender.
Kind regards,
Christy
Complaints Department
They can’t even spell my name correctly.
Sara (Debt Camel) says
how about
“I have responded to your previous email. I have told you the loans were unaffordable as they left me having to borrow again as I was so short of money. that is why i was dissatisfied with your lending and why i have already made an affordabilty complaint.
In the time it took to send me this last pointless email, you could have actually looked at my lending history, seen the problem in detail, and decided whether to offer me a refund. If you carry on with this correspondence, I will be sending you another complaint about your poor complaint handling!
In the meanwhile, I await your final response and will be sending the complaint to FOS if I do not get by 2nd August, 8 weeks after my complaint was started.”
You could also leave them a bad review on https://uk.trustpilot.com/review/mrlender.com for poor complaint handling.
Andrew says
Hi.I have tried to chase sunny up on when I will get my refund not getting very far. I got this response back from them hank you for your email.
If you are contacting us to provide payment details as part of a complaint outcome, your payment will be processed in line with the timescales stated in your final response.
For any other queries, we will aim to contact you by return”
Could someone please tell me who the final response letter is from? Is it adjudicator? Or sunny. Also does anyone know any email addresses of elevate senior representative s, as they have obviously instructed customer relations not to respond to customers who have been awarded compensation claims against them. I want to point out that they were actually in the wrong not the customers, hence why the FOS came to the decision they did
Iain123 says
Sunny will contact you asking for payment details. If they don’t you need to report this to your adjudicator.
Comments on here say all lenders are snowed under and everything is taking longer.
Andrew says
That asked for details on second day after I excepted but that’s the I ly contact I have had with them ignoring everything else
JamesH says
I had similar issues. Just call them up and complain. I did and was refunded that day…
charlie says
Hi
Can anyone tell me if they’ve had a successful claim against Mr Lender and how long they take to resolve complaints
Calum says
Hi Charlie,
Yes i did claimed for unaffordablility of my loans which I had an outstanding balance of £155. I recieved £195 for the interest i paid on the loan all of my balance written off and adverse credit findings removed. One of the easiest i have come across. Found Moneyboat and Unclebuck very difficult to deal with.
Hope you get some luck. What i would sat is stay polite and any additional info you can give that may help that can also go a long way.
Sara (a different one) says
I thought I would just give some feedback concerning 247 Moneybox.
I asked for redress on 27 loans covering 2015-2017. 247Moneybox upheld 11 of the loans. I accepted their offer on 4th June and they emailed on 14th June confirming that they would pay within 28 days. The funds were paid into my account late afternoon on 9th July.
I received £905 back.
Charles says
Hello Sara,
Thank you for your brilliant and very helpful information on here!!
To cut a very long story short I had serious issues (mainly health) from early 2011 to late 2013 which led to a financial nightmare.
Out of the blue Wage Day Advance administrators contacted me and that led to me finding your website.
A few months a go I contacted any still existing lenders that I had dealt with and within 7 weeks got a huge payout from Quik Quid and am in settlement discussion with Lending Stream.
PayDay UK have just replied (after 12 weeks) as follows –
‘Your lending took place between 04/04/2011 and 30/08/2013.
My Decision:
We handle complaints following rules set out by the Financial Conduct Authority (FCA).
One rule is that a customer must complain within 6 years of the problem. Another rule is that if more than 6 have passed, you must
complain within 3 years of knowing you could complain about the problem.
I can see that all of the loans that you are complaining about are more than 6 years old. So for me to consider these loans, I need you
to tell me why you didn’t complain about these loans until now’.
Is it worth me explaining that I did not know of y right to complain for irresponsible lending or is this 6 year period set in stone by law? Quik Quid and others have not even mentioned about how old the loans were.
Kind regards, Charlie
Sara (Debt Camel) says
see https://debtcamel.co.uk/refunds-payday-uk-express-money-shop/ which looks at what to say.
Iain123 says
QuickQuid are terrible so start the ball rolling with an FOS complaint. Regulators have ruled 6+year loans can be looked at.
Charlie says
Hi Iain, bizarrely in fairness (my case) Quick Quid were absolutely brilliant and offered a large settlement after 7 weeks even though my loans were from 2011 to 2013
Allan says
Have had complaints against Payday UK, Payday Express and Money Shop all upheld by adjudicator. They had until 2nd July to respond but have not replied on any of the complaints. Now in the queue for an Ombudsman decision. Has anyone had any of these companies reply whilst in the queue for an ombudsman decision, or have any indication of how long it will take for a final decision? Having first complained to FOS in November 2016 I’m starting to think I wont get anything if they go into administration even though the FOS have had nearly 3 years to get my complaints resolved!
GM says
I would give them a couple of more weeks before sending to the Ombudsman as they are extremely behind with responses. sending to the ombudsman might delay the process even more.
My adjudicator said that they are taking sometime 6 weeks to respond.
Katie says
My complaint is in a queue for ombudsman with my complaint with lending stream it’s been in the queue since 10th June been told they can’t give me a timeframe. I first complained March 2018
D says
HI Sara and Folks,
I sent my complaint to My JAR on 17th June. I have received a response today – post their response in a post after this. I borrowed from them every month since June 2014. 21 loans until this February. They have selected some of the smallest loans. I am wondering if there any point responding and trying to negotiate or direct to FOS?
Any suggestions, ideas how to respond?
thanks
Sara (Debt Camel) says
Straight to FOS.
D says
Their response:
“Each time you borrowed, we asked you to confirm or update the information that we held about you…
The checks we carried out needed to be proportionate to the amount of credit provided…. the checks carried out for small short-term…
…information about the terms of your loans was provided to you…
Loans 8-12 and loans 14-21 were instalment products… repay a monthly contractual repayment over a specified time-frame, meaning the monthly repayments were of a smaller amount making the repayments manageable. 16 of the 21 loans were repaid either early or on time (up to 174 days early), reducing the amount of interest that you would repay. There was a significant gap in lending prior to loans 17 of 49 days.
Having considered the lending history above, we can see that on one occasion, for loans 5 to 8, MYJAR did not change the level of checks. Therefore we concede that these loans may have been unsuitable.
Our Decision
We feel that should further checks have been completed after loan 4, it might have become evident loans 5-8 could possibly have been unsuitable for you. Therefore, to put things right we offer to refund the interest and charges applied to loans 5-8 and remove any negative information about these loans from your credit file registration.”