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?
David Cunliffe says
An adjudicator has found that lending stream lent to me irresponsibly and have sent their findings to them how likely are they to accept the adjudicators ruling?
SI LAD says
They won’t. Or if they did I’d be flabbergasted as they are the worst lender to deal with. Sorry to be the bearer of bad news but I just being honest with you.
Dan says
Not a fan of lending stream but will say in my case.They totally rejected all unaffordable loan claims inj July 2018 this July got back after adjudicator ruled in my favour loans 4_38 and accepted just a day after two weeks deadline.just shy of £1700 .They are inconsistent but aren’t all of them
Sara (Debt Camel) says
They often do accept, see comment from Nathan just below.
Nathan says
I’m sure this has been asked a million times. The FOS got back to me saying LS have agreed to refund me and that I had to accept their offer which I did straight away. Does anyone know how long this will take and will LS contact me directly for bank details to refund ? Is it worth going straight to LS? Any advice is grateful
ClaireR says
I would contact them straight away.
I did after couple of days and they said something along lines of we are waiting for your bank details, so get in there now so they have no excuse.
Glynis says
Hi. I been waiting since 30th May for LS to contact me. I E _ Mailed the adjudicator two weeks ago. Waiting to see what happens next. I’ve written a bad review on the trip advisor.
Stuart says
My satsuma complaint was finally reviewed by an adjudicator today and they have not upheld my complaint. I have submitted counter arguments stating that I had 11 creditors at the time of issuing the £800 loan with a disposable income of around £260. With the repayments on that loan I would have been left with around £100 each month. Only a 2 loan case so not entirely surprised but I will wait and see what his reply is.
SI LAD says
You’ll find it difficult to change their mind or influence them to favour you as they have already not upheld your claim. Good luck tho.
Sara (Debt Camel) says
and send it to an Ombudsman if it is still rejected.
Caoimhe says
Hi thank you so much to this website
Put a complaint in against my jar on 28th may they have agreed with it and paying just over £2000! I sent them bank statements which I think really helped as they even wrote in their final response that I had several other payday loans they could see on my bank statement!
They say they pay out in 10-15 business days after receiving my acceptance!
Thank you again!
Oracle85 says
Currently having my QQ and P2P loans looked at by an adjudicator. QQ claim I owed them money but I traced the debt collector (Arvato financial solutions) on my credit file and I have a 0 balance showing it being paid off. Ive sent to adjudicator so any win doesn’t get money taken off. Pretty sure my P2P outstanding balance also got sold to a debt collector and then paid off. Anyone have a outstanding P2P loan what debt companies did they use so I can check my credit files? Worth noting for everyone to check as QQ/P2P seem happy to take balances off any settlement offers that may have actually be paid back to them!
Sara (Debt Camel) says
Send QQ a Subject Access Request TO GDPR@quickquid.co.uk asking for a list of all your loans, the amounts you borrowed, the amounts you have repaid QQ, and the details of any loans that have been sold to a debt purchaser, including the loan reference number, the date, the balance and the name of the debt purchaser
Mike_p says
How long do Lending Stream normally take to respond to adjudicator decisions? My adjudicator gave them a deadline of today butI haven’t heard anything yet.
ClaireR says
Mike, mine went couple days after deadline,
They agreed to refund and now I’m 13 days into the 28 for payout. Fingers crossed for you.
Zoe says
Hi,
My deadline was the 5th July and I’ve not heard anything. My adjudicator said not to worry as they have a huge backlog of complaints so this means they can take anything up to 2 weeks after the deadline to respond.
James says
Hi Sara,
This is not so much a question about a payday loan refund as i have only had 2 loans with this company Lending Stream so would assume my chances of a refund would be slim to none.
However I notified them of money problems I was having and was unable to keep up with the payments, told them it wasnt affordable anymore as i had taken a massive pay cut in order to keep my job which is true. They got back to me and we agreed a payment per month of £50 which was affordable for me and they also said they would freeze interest going forward which i thought was great- pay back what im in debt with upto now and it wont build up.
Although the loan was supposed to run until December time, I Borrowed around £400 and was due to pay back around £796 in total, this was my total repayment amount when i took the loan. But they have frozen the interest and account in May with the total to repay at £796. So they have added to maximum interest i would have accrued by december time and put that on my figure to pay back now. Is this normal for a company to do? What happens if i was to come into some money and pay them back larger amounts. Surely i would be overpaying as that interest hasnt accrued yet?
Really stuck on how this works, could do with some advice on this and see whether they are being fair.
James
Sara (Debt Camel) says
In a loan all the interest is normally added at the start. If you repay the loan over a longer period, then when LS say they are freezing interest, then mean they won’t charge you more for repaying more slowly.
Hope that helps? But if you feel the 2 loans were not affordable, make a complaint! you may get some interest removed from the burrent balance which would be good.
Nat Garvey says
Peachy Loans tried to block my reviews!
So instead of actually addressing the issues in my last review, they decided to report my post to Trustpilot. Luckily Trustpilot had enough sense to see that Peachy Loans were trying flout the rules. …
Shameful!
Here are my previous reviews – Lets see if you’re going to flag this one!!!
————————————————————————————-
This was my previous review that was left on the 9/4/2019:
Peachy Loans are refusing to fix my credit file!
Peachy Loans continue to ignore my request to amend my credit file. I would advise anyone who is thinking about borrowing money from these charlatans to think again…
Marty says
Has anyone had any joy with Uncle Buck??? I complained to FOS in December 2016. They said they couldn’t look at it, however complained again November 2018. I’m told the FOS are looking at it but need to decide if they can as Uncle Buck changed their legally entity it’s absolutely nonsensical to me as it’s exactly the same place and coming up for 3 years since I 1st complained.
Sara (Debt Camel) says
this shouldn’t be happening. Persist with your complaint.
Felicity Manduca says
Hello Marty – I had an offer this week from Uncle Buck – basically they ignored any loans outside the 6 year cutoff and just looked at the loan I had rolled over 4 times when I went into the DMP in 2012; the amount was just over £100, but they also included the 8% interest, so it was £237 after tax. I accepted it, as I got the feeling they would be difficult to pursue for more (especially after reading some other comments about them).
Interesting thing was, they told me I only had the 1 loan – not true, as I have email evidence with offers from them to top up my credit for being a good customer….
Marty says
Hi Felicity,
That’s great you got an offer congrats , I found them very difficult and unhelpful from the off. Its nearly 3 years since I complained as FOS wouldn’t look at it either as change of legal entity. Thankfully Sara intervened and I am expecting adjudicator decision shortly so will see its ridiculous its took this long and I hope my fight has been worth it. Have they actually paid you then ?
Felicity says
Hello – I accepted the offer on Tuesday this week and they confirmed the money will be in my account in 7 working days, so let’s see. I could have pushed them to offer more given I had more loans but didn’t feel it was worth it and I have claims in with other companies. I think it’s terrible you have waited so long, I hope you get a decision and a decent offer soon, fingers crossed
Lee says
Hi all, just wondering how long it’s been for people, from giving sunny their bank details to getting the refund? It says it can be up to 30 days.
I went through the ombudsman and went in my favour.
Michelle says
Hi.
Im still waiting on Sunny. FOC ruled in my favor 3 weeks ago, they also took my bank details to pass onto Sunny, to make things easier, and told me if no contact within 4 weeks to contact them…
I have read in previous posts Sunny take all the time stated for a refund.
However i have re contacted FOC expressing concerns of no contact at all 3 weeks in, not even a acknowledgment of a due refund etc.
So i am now just hoping at some point next week i will be refunded … whilst waiting on FOC , as currently my adjudicator is on holiday… well deserved
Will keep this site up to date
Lee says
Hi Michelle, I hope it gets sorted quickly for you. Might sound silly, but have you checked your junk email box? Sunny messaged me about bank details and it went it to my junk box, which I was lucky to check by mistake. Otherwise I wouldn’t have even known it was there.
Michelle says
Hi.
Yes i check their just in case, but my adjudicator took my bank details to try and speed things up…
Thanks tho
Alex says
Hi,
I had a My Jar final response today. Partially upheld. Surprise surprise the small earlier loans they happy to pay out on, the later larger ones they are not. The offer represents about 15% of total interest, pretty lame right?
The reply is very long and goes on and on about actions taken since 2015, all the checks they do (I tried to post this but it’s too long). Reality is that My Jar, Wonga, PayDay UK and QuickQuid all lending to me post 2015 so although they have explained the checks they do, I’m not convinced they are good enough.
Where they may have a point is they ask for existing credit commitments when applying and I don’t think I have included Pay Day loans in this amount (I have bank loan and credit cards). Do they have a point? Is this good enough to get out of paying me back the interest?
Sara (Debt Camel) says
Very lame, send it to the Ombudsman, Myjar don’t negotiate.
It’s pretty common for people to have not put payday loans down as credit commitments because they think that sounds like long term borrowing. See https://debtcamel.co.uk/payday-lender-says-lied/. That makes it harder to win a case if you only had a few small loans. But with large loans or a lot of loans the lender should have done proper checks on your credit record themself and seen the payday loans.
Neve says
Hi,
I’ve had my adjudicator decision back for my loans( ruled in my favor!) with Sunny and the deadline is tomorrow for sunny to respond…. Does anyone know if they tend to agree with the adjudicator decisions or ignore them? Just wondering the timescale I could be looking at?
Thanks I’m advance!
Michelle says
Hi. Sunny agreed with the adjudicator on the deadline date with me… now they have 4 weeks to contact me and refund. Currently 3.5 weeks in now no contact no refund. However i have read on this site they take the full time allowed for refunds
Charlie says
Hi
I have sent off complaints to several lenders, QQ P2P, Mr Lender, 247 Moneybox & Payday Express. Ive had confirmation emails from all and QQ/P2P Have requested payslips & bank statements. I have asked that they look at my complaint eithout these as I never sent them when I originally got the loans..
Roughly how long do the lenders I’ve listed, take to come to a decision??? My loans were taken out 2013/2014.
Sara (Debt Camel) says
Probably about 8 weeks…
Except for Payday Express where the Money shop (which owns the Payday Express and Payday UK brands) which announced yesterday on its website that it is closing, see https://debtcamel.co.uk/money-shop-to-close-two-million-customers-will-be-informed/ for details and how your complaint will be handled.
For Mr lender and 247 Moneybox, if the offer isn’t good you can go back to them and negotiate. Not so with QQ / P2P.
Charlie says
Thanks Sara.
Just one more thing… I have being trying to get bank statements from a closed account (yorkshire bank). My local bank closed down so i contacted head office to be told that they do not have access to them. I put in a complaint and was then told it was passed to DSAR (data request team) I’ve asked for statements dating back to 2012 to 2015. What are my chances of getting them??? And if i can’t get them, how do I make my complaint stronger if I have to go the FO???
Thanks
Sara (Debt Camel) says
I will be surprised if you can’t get statements going back to 2013. But FOS will consider complaints without bank statements if the bank will say they no longer exist.
Zoe says
I have one outstanding case that’s with an adjudicator but not yet been dealt with by them. It was appointed back in February, this is with Uncle Buck. When my complaint first was sent to them in September my account was showing as under query on my credit file. I then after several weeks of harassment by daily phone calls texts, emails and letters chasing me to arrange payments. I’d asked on at least 5 occasions to be contacted by email only but arranged to pay £25 a month. I then noticed my credit file had changed from under query to late payment which I didn’t think was fair, but nothing I could do about it. However 2 weeks ago this changed again to up to date and then this week there is no record of it on my file at all. The older loans are showing as settled but the outstanding one has disappeared. My adjudicator contacted me Monday with an update saying she was now looking at it but was waiting for Uncle Buck to respond. Has anyone else had this where it’s just disappeared before the adjudicators decision. I’m hoping this is a positive thing, however they have been a thoroughly horrid to deal with so somewhat not trusting them?
Sara (Debt Camel) says
Well it’s definitely not negative!
You aren’t the first person to say UB are horrid to deal with.
Zoe says
Thank you, I’m hoping it is positive. I have asked for the way they were contacting me to be reviewed as a separate complaint, one month was around 50 times and after I had specifically said email only I had endless texts and phone calls. I understand this is a more serious complaint. So possibly why they have removed the outstanding debt. I assume I should continue paying the £25 a month until I hear anything from them or the adjudicator?
Rosie says
Yesterday, I put an affordability complaint in against MYJAR. The payment schedule yesterday had a balance of over £3k.Today when I log into my account, the payment schedule status is “CAA.Shared.Instalment.Status” with a date in October 19 and a repay balance of £1800.
It also says my default debit card is expired, please add a new debit card. Does anyone know what this means ?
I had asked for refunds against first loans to be refunded, to remove any interest on current loan and an affordable repayment plan to be put in place on any balance.
Mike_p says
It’s best to ask them really, but when I made a complaint against them they automatically put me on a payment plan while they investigated.
Emily says
Hi,
Am I able to put a payday loan complaint to the company Smart-Pig the loans for students?
Thanks
SI LAD says
Yes. If you think it was irresponsible lending!!
Turtle says
Adjudicator upheld my complaint against Mr Lender stating a redress on loans 2-9. Mr Lender have disputed it so now has to go to an ombudsman. Can anyone indicate how long they waited in this position to get a decision from at ombudsman level?
All my other cases I am awaiting for an adjudicator to pick them up.
Many thanks.
Katie says
Mine has been in a queue for an ombudsman since 10th June and they can’t tell me how long it will take
Robert says
I had a similar situation, Mr Lender sent it to Ombudsman however 2 weeks later they changed their mind and paid out.
Get in touch with them and let them know that you can negotiate.
Sara (Debt Camel) says
leave them a bad review on Trust Pilot: https://uk.trustpilot.com/review/mrlender.com saying they have rejected an ajdjudicator decision and are prolonging the complaint handling process.
Paul says
Hello,
So 12 months after submitting my Lending Stream complaint, and the FOS stating they were wrong to lend, LS have agreed to pay out. Absolutely chuffed. Thanks again Sara and the rest of you guys for your advice and support throughout.
Quick one though, I have accepted the payout, FOS have today sent my acceptance to LS, stating they will be in touch directly within 4 weeks. Is this the 28 days everyone is talking about? Or will I have to wait a further 28 days when LS get in touch?
Thanks again.
Chris says
I would highly suggest getting in touch with them by ringing their complaints line Paul, 020 3365 0138, and confirming your bank details with them. They’ll take every possible second they can to stall so don’t give them any excuses. I’m at day 15 today with no refund yet.
J says
Hi Paul Mike_p & Chris
I accepted on July 3 and the credit landed in my account about 20 minutes ago, so 15 days in total.
Hope you get yours asap too guys
J
ClaireR says
Hi J,
Thanks for that info, I accepted on 4th so my fingers are very firmly crossed for something before weekend too.
Andrew says
I accepted LS on 28th June still not been paid but yours was after and got paid first go figure they was adamant they needed the full 28 days
Chris says
Thanks J, glad you got yours! I also accepted July 4th so here’s hoping.
I assumed there was a date-order refund queue but if Andrew is still waiting that must not be the case…
ClaireR says
I just had an email to say mine is with relevant team for processing.
Stephanie says
Hi Sara,
I submitted my complaint to MYJAR, and they have now asked me for payslips, bank statements, and additional information regarding my financial circumstances at the time.
I don’t have the payslips, and accessing the bank statements will take a long time. Are they trying to stall me? What should my next step be?
Many thanks,
Steph
Alex says
I have submitted my complaint two weeks ago and they asked me the same things. I have provided to them as I keep all my records. it is not necessary to send to them. you can ask them to evaluate your complaint as it stands and if the FOS will required you will provide to it.
Miss v says
Has anyone had any complaints upheld with Loans2go?
Chris says
My complaint has just been picked up by the Adjudicator so I will let you know what happens. Chris
Sara (Debt Camel) says
see https://debtcamel.co.uk/worst-loan-in-britain/
A says
Just logged onto SNC. My complaint has
3 more weeks left to run until the 8 week deadline. They have changed their setup now. They are now asking for customers’ consent for them to use open access. This will give them access to the incoming and outgoing transactions for one year. As a result of all the unaffordable lending complaints me thinks?
Dale says
Has anyone ever had a lender withdraw an offer of settlement. As myjar have offered me, after I have strung them up in knots, a measly £263. I am challenging them on this with full blown facts and just want to know if anyone has ever had a lender withdraw an offer because your clearly right.
Sara (Debt Camel) says
Well shrug if they do – because it sounds as though you are headed towards the Ombudsman anyway as Myjar don’t normally negotiate. how much interest did you pay on the loans they aren’t refunding?
Dale says
myjar have had to rewrite a final decision to me 3 times because I’ve literally pulled them apart on each separate occasion. I’d love to be able to share the full correspondence of my case with them to you, it could be great for you to look so you can help and advise others to act this way in future.
I want to avoid the FOS as they take a very long time and with the uncertainty around all lenders at the minute I’d rather take as close to 100% as I can eek out of my cases and cut my losses.
Sara (Debt Camel) says
how much interest did you pay?
Dale says
I paid 500. But they have denied incoming transactions to be theirs and that the first loan they ever gave me was in the November. But I had outgoings of over £800 previous to the loan date they claim so I’ve basically said if you are saying that my first loan was in the November then I want the £800 back to as how could I pay you money without a loan. I’m awaiting their response to this.
Livia says
Hi everyone, safety net has refused my complaint saying I had enough income and I could afford borrow from them for 9 months in a row. They stated they knew I had defaults in my credit file but it was still ok to lend me every month. I checked my bank statements and i had 5 other payday lenders at the same time as them. I also ended up on a repayment plan with them as I couldn’t afford to keep it up . Do you guys think I should send to the Ombudsman? Thanks
Iain123 says
Yes, complain to the FOS today. Nine months of repeat borrowing is predatory lending.
Livia says
Thanks Iain 123 . Should I send the bank statements to them as well? They showed how much I was struggling with debts at the time
Iain123 says
Get the complaint in first, just basic information . They’ll send you a complaint reference within two months which looks like 1234-1234, you can then pdf them bank statements.
d says
had a phone call from my adjudicator regards my MYJAR complaint. She is finding in my favour for loans 5 and 6. Do you think its worth asking for 4 as well?
2335195 30/09/2017 £225.00 £96.50 £238.71 22/12/2017 09/10/2017
2401554 03/01/2018 £650.00 £263.50 £760.00 23/03/2018 17/02/2018
2426906 21/02/2018 £100.00 £48.56 £101.50 23/05/2018 23/02/2018
2427737 23/02/2018 £625.00 £482.05 £738.75 23/08/2018 23/03/2018
2444081 23/03/2018 £400.00 £204.29 £412.00 25/06/2018 27/03/2018
2447581 28/03/2018 £900.00 £690.98 £942.06 25/09/2018 05/04/2018
Sara (Debt Camel) says
The problem if that there was a 2 month gap between loan 1 being repaid and loan 2 taken out. Then loan 3 was very small. So it’ts not very obvious that loan 4 was a big problem.
You would need to be able to show that your credit record had got a LOT worse between loan 1 and applying for loan 4.
D says
Thanks sara.
I’ll accept as she’s forcing them to remove 4 from credit file and refunds (although very small) on 5 and 6
Leyls says
Hi I submitted a claim to Sunny as I had 30 loans from them between 2017-2019. I received this reply ( Should I take it to the Ombudsman?). As a goodwill gesture they’ve offered to write off my remaining balance of around £70, but have rejected my claim:
The data we use from CRAs gives us a comprehensive monthly view of credit commitments which we compared with those provided by you and where there is a discrepancy, we used the higher value. We also used public data to ensure you had no recent financial flags, such as IVAs or CCJs. This broader, independent view allows us to ensure we are basing our calculations on up-to-date, accurate financial information. It also allows us to assess how you are managing your credit commitment
We are sorry that you feel that you were unable to afford credit and that we should not have provided this to you. However this is not supported by our records, the information you provided to us, or information we obtained from the CRAs at the time we agreed to lend to you.
We have also undertaken a review of your overall pattern of borrowing and note that there was a break(s) in lending to you as follows: from december 2017 until March 2018 between loans 13 and 14, and again from July 2018 until December 2018 between loans 20 and 21. Furthermore you were required to use less than 15% of your income to make a contractual repayment in relation to any Sunny loan.
Sara (Debt Camel) says
Definitely take this to FOS. That was a LOT of borrowing. Sunny seem to use criteria to decide whether a loan is unaffordable that are not what the Ombudsman uses.
Leyls says
Thank you so much. Even if I was borrowing because I was so depressed that I couldn’t seem to stop shopping. I was living financially recklessly and have no real excuse for it?
Iain123 says
Yes, even then. The responsibility is on the lender. Those bank statements will go in your favour with the FOS, a clear sign you shouldn’t have been loaned to.
Leyls says
I could really use the money they’re prepared to write off. If I accept I can’t go to the ombudsman right? O
Sara (Debt Camel) says
If you accept it, that settles your whole complaint and you can’t go to the ombudsman.
They are only offering to write off £70. Not pay you that money. And you must have paid them a LOT more interest that that!
This sounds like a dreadful offer, but it’s your choice.
ClaireR says
I have just had an email from adjudicator for my Sunny case, submitted in December 2018
Sunny partially upholding from loan 14 onwards, had 28 in total.
“Calculate the interest paid by them for loans from the point in time at which they had been charged interest for 12 months which was from their 14th loan/draw”
I have asked the adjudicator to get them to explain why.
Their offer was just over £1,200.00
Will see what they come back with.
Frances says
Hi,
I have just received a response from SafetyNet Credit. They are admitting the lending was irresponsible but the settlement they are offering does not compare to charges I incurred. They have offered to write off the outstanding balance of £1314 and refund another £1300.
My account with SafetyNet Credit was opened in May 2016, since then I used it continuously paying more than £200-£300 each month until May 2019 when I ask them to look into my case. Taking the lower of this range, that’s £200 a month, each month for 3 years, that amounts to £7,200, with 8% interest that’s nearly 3 times as much as they have offered. This is a lot of money and they, better than anyone, should understand my position (as they had access to my account).
Question:
Is there any point of trying to negotiate with them? I know I could escalate to the ombudsman but this is going to go on for months…
Grateful for your advice.
Thanks
Sara (Debt Camel) says
It’s worth going back and saying what you would be prepared to accept. Perhaps a refund of the interest without the extra 8%? You know if you go to FOS you may not get the first few months refunded.
SIMON127 says
Frances – the £200-300 you repaid each month will cover both the principal and interest. You can only get refunded for the interest element – therefore I will be surprised if you have repaid £7k interest in 3 years. You can easily download the full transaction history via the Statements menu on the SNC website to calculate the interest you have repaid in this period.
I currently have a complaint in with SNC having borrowed £22k since 2013 and the total interest I repaid is £2.6k
Frances says
Just to clarify, I was borrowing up to my limit of £1000 every month, repaying £1200-1300 monthly, so £200-£300 refers to interest only. I have downloaded transaction history from my SNC account and interest added adds up to £7259.
ME says
Hi Frances,
I would suggest go back to them as they messed up with my Final Response Letter initially saying they had upheld it but were only willing to give me a portion of the refund when I calculated the figures. I called them and went through everything and re-iterated my personal circumstances at the time. After a bit of to-ing and fro-ing they repaid my interest in full, closed the account and it also appears that they wiped everything from my credit file.
It is worth another email/call.
ME
KB says
Good news for me – I emailed Myjar using the complaint template from debt camel last month and have since had an outcome from them. I am due to get over £3000 including 8% simple interest. I am very satisfied with the way they have handled my claim. They were efficient and made my complaint stress free. Thanks Sara. 🥰
Alex says
I have received good news too yesterday. They have written off my outstanding balance with interest that they owed to me. Not even after 3 weeks. Happy as it is. I wish QQ would behave correctly with their customers
Steve says
Had anyone dealt with cash4unow I have made a complaint about a number of loans.
Stuart says
I complained and they rejected my complaint. An adjudicator picked up my complaint about 8 months later and they found in my favour for 3 out of 4 loans but cash4unow disagreed with there assessment and now waiting on an ombudsman picking up the case.
Ele says
Hi all
Is it worth applying to the likes of 118 and drafty? Given they are one set amount? Same with credit cards? Got a 2300 limit on aqua. I know there is a separate section for these types of lenders but just wondered if anyone has ever actually had any success?? Thanks
Sara (Debt Camel) says
118 Money – yes, these loans are much bigger than a normal payday loan so you can get a refund if there is only one loan. lots of people are getting refunds. See https://debtcamel.co.uk/refunds-large-high-cost-loans/ for the different template letter.
Drafty – yes, use the letter on this page. this are just another version of payday loans.
Aqua – you can complain your limit was raised too high. these complaints are slow, expect Aqua to reject – but here are two readers who got good results last week: https://debtcamel.co.uk/refunds-catalogue-credit-card/comment-page-11/#comment-307457
Holly says
Hi all got this final response from safety net
Therefore we propose that we redress all the interest that you have paid (£383.24), plus statutory 8% interest (£9.96). In line with HMRC guidelines we will deduct 20% (£1.99) 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 also remove any interest that has accrued on your outstanding balance (£169.46) and then deduct the interest you have paid plus the statutory 8% interest from your principal outstanding balance (£619.56).
This will leave a principal outstanding balance of £228.36 which remains payable. This is the amount of money you have borrowed with all the interest removed. Any adverse markers relating to your SafetyNet Credit account at this time will be removed from your credit file.
Does this mean It’s coming off of the balance or I will be refunded the £383?
Sara (Debt Camel) says
It’s not clear, is it!
Normally the refund on previous loans is used to reduce the balance owing.
Are you happy the numbers are correct?
Holly says
I am but I don’t understand if it was classed as unaffordable why have I still got a balance and why are they not paying me the interest back ?
I called them and they said they won’t be refunding any Interest and I have an outstanding balance to pay
Sara (Debt Camel) says
The problem is that for the last loan you haven’t repaid how much you borrowed. They have tekn the balance, removed the interest and any payments you have moade so far, then taken off the refund on the other loans.
Lee says
Hi
Lending stream dismissed my complaint so I went to the ombudsman. The ombudsman has ruled in my favour and lending stream have offered me just shy of £500 for a settlement of the complaint via the ombudsman.
This is my first offer.
Question is should I accept. The ombudsman feels the offer is fair and in line with what they ruled with however I believe I should get I a little bit more for stress because lending stream sold my last loan to a debt collection agency who bullied me into setting up a payment plan or they will process a CCJ. even tho I set one up they still put a CCJ against me and added even more fees to the loan despite me telling them the loan was in the process of a complaint.
Any advice please would be grateful. Or should I accept the offer.
Sara (Debt Camel) says
ok, more questions…
1) is this a decision “from an ombudsman” or from an adjudicator?
2) what exactly did the adjudicator/ombudsman say? have they said remove any negative marks on your credit record?
3) how has LS described this offer or how it has been calculated?
4) were there previous loans included in the offer – if so how much interest did you pay on those and roughly what date?
50 this last loan – how much did you borrow? how much did you repay LS if anything? How much have you paid the debt collector 9who is that?) before the CCJ or afterwards?
Lee says
Hi
This is the reply I got from an adjudicator.
The breakdown of the offer is as follows:
• Refund all interest and charges paid on loans 4-7: £450.63
• Add interest to the above payable at 8% a year “simple” from the date any
interest and/or charges were incurred to the date of payment (less 20% tax
deduction): £161.54
• Less outstanding balance: £114.90
• Remove any negative information regarding loans 4-5 and entirely remove
loans 6-7 from your credit file. Amount to be paid: £497.27
Taking everything into consideration, the offer is in line with my recommendation, so I think this is a fair offer.
Loan 7 was sold to debt collector and was the only loan outstanding.
They said I needed to pay or they will process a CCJ against me. Told them the loan is currently in a complaint but they still pushed and harrassed me to pay the whole amount plus their fees or they will process a CCJ and start sending bailiffs. In the end i was really stressed about this so agreed a payment plan which I have kept up to date on. Despite agreeing a payment plant they still processed a CCJ and added further charges again on top of the charges they already added. The original outstanding debt on loan 7 was something like £200. But after dealing with the debt collector they said it was now £380ish. Obviously the dealings with the debt collector and CCJ was really stressful.
Thank you for helping me
Sara (Debt Camel) says
“Refund all interest and charges paid on loans 4-7: £450.63”
I assume the 7th loan is the one with a CCJ.
What interest and charges did you pay on loans 4-6?
How much did you borrow for the 7th loan? How much did you pay LS (if anything ) for thei loan.
How much have you paid the debt collector?
(Sorry I do stop asking questions and answer them at some point but there isnt enough infomrtion at the moment!)
Was your adjuidcator aware that there was a CCJ?
Darren says
Anyone have experience with quickquid, pounds to pocket basically casheuronet. Do they normally accept adjucator decision or do they let it go yo the top dog??
SI LAD says
Ha ha. Top dog!!! You mean Ombudsman. In answer to your question I’m almost certain they’ll reject and you’ll have another 6 months wait while it goes to Ombudsman. They’ll make the process as long as they can hoping you can’t be arsed and let it go. Eeerrrr no effin chance. Go to top dog.
Darren says
Cheers. Sooooo annoying. Just as long as they don’t go bust. Not to bad as I’ll get even more interest already got like 6 years
simon says
The Money Shop news is the last straw for me, I have 2 cases left that I have sent to FOS from 247 moneybox and Pounds to Pocket. My guess is these 2 will be the next to go through the same process.
So wish I found this brilliant site 2 years ago.
Sara (Debt Camel) says
There is no indication that either firm is in trouble.
On the brightside (which is of no consolation to Money Shop borrowers) FOS will now have 5,000 fewer complaints to handle so times for other lenders should speed up.
P2P has a US-listed parent company so it provides quarterly accounts. UK refund costs were not mentioned as a problem in their last set in April. next quarter’s due out and of this week.
simon says
Thanks Sara
I guess patience is the name of the game.
A says
How do I get a copy of my credit report from when I took out a set of loans in 2011/2012? The fos is asking for it
Sara (Debt Camel) says
This is for a different lender?
The answer is you can’t. Just send your current Credit Karma record. That isn’t going to be much help to FOS but they always ask for it.
A says
Sorry yes. My complaint against MyJar is with the fos.
Daron says
I had debt relief order in 2016 and it was satisfied in 2017 I had quick quid on it it got sold to avent finance then motormile finance had it 2016 I have had fos rule in favour against quick quid now if the company was included in the dro why should I pay it again I thought debt was written off when you have a dro it’s now 2019 and there took all my refund money what shall I do thanks daron
Sara (Debt Camel) says
There is a legal case for saying your debt has been written off, so a “set-off” of a refund against this debt is not possible.
But FOS have consistently said for PPI refunds that it is not reasonable for you to get a refund without reducing that to take account of the debt in the DRO which you did not pay. So FOS is very likely to say that what had happened to you is fair.
From your point of view it may feel as though you are being asked to “pay the same debt twice”. But actually you did not pay the debt in the DRO, so that isn’t a reasonable description.
If your FOS decision is from an adjudicator, you can ask for this to go to an Ombudsman but the decision is in line with FOS’s normal rulings on PPI cases so I would be very surprised if you win.
If you lose, you can take legal action. This is not a straightforward case, I do not know of anyone who has won a PPI case in a similar situation, I suggest you need to take legal advice before considering this,
Daron says
I have to debt one refund and one on dro it’s not ppi its payday loan refund one of debts was on dro thay said thay sold it to someone there telling me wrong information because I’ve phoned motormile finance there now lantern and thay say the debt was included in debt ro order I have paper work to prove it so there when I saying a different debt company was sold it 2010 let alone when I phoned the one thay said thay didn’t know nothing about it motormile did so what am going to do I’ve asked motormile for the paper work with the debt thanks daron
Iain123 says
Citizens Advise Bureau may be able to help straighten this out.
Sara (Debt Camel) says
I was talking about PPI as there have been thousands of these cases and FOS has a clear way to handle them.
I would exp0ect a payday loan refund when obe of your debts was included in a DRO to be treated in the same way that a PPi refund would. That is, the lender who has to give a refund is allowed to subtract the amount that was written off in the DRO.
If you would like some help with this, as Iain says going to your local CAB is a good options, they can look at the indicivudal loans and what the refund is.
S says
Hi Sara,
Could you please give me a little advice.
Am I right in thinking that a payday lender has 8 weeks from the date you send a complaint to them to respond?
I have submitted a complaint to SNC for 30 months of loans since 2016.
It took them 5 days to acknowledge my complaint and at the 4 week mark (yesterday) sent me an email saying they have another 4 weeks but the date is from the acknowledgment date and not my sent date.
Please help, I’m not sure if I should contact them to correct this.
Cj says
Yes they did the same to me . And then I received a final response on the last day of eighth week
S says
Cj,
Was it a positive outcome? I’ve worked out that I’ve paid over £2400 in interest. 30 months of continuous borrowing. Definitely not affordable
A says
My complaint with them is in its 5th week. I’ve paid over £5.5k interest in the last 4 years continuous borrowing
caz says
hi,i’ve been getting loan after loan with sunny,then i had mr lender years ago never paid and got wiped somehow,they’ve now re loaned me but the repayment is £348 next month i cant afford it but i agreed as i needed the cash,i’ve sent the letter above to sunny about irresponsible lending and i’l await reply,but what can i send mr lender? ive also got a dot dot loan which ive sent an email to saying i cant afford to pay them this week and can they freeze interest and let me pay a small amount every week.. im so lost in payday loans..help!
Sara (Debt Camel) says
I suggest you put in a complaint to every payday lender you have used more then a couple of times AND every lender you still owe money to.
Tell your bank to cancel the CPAs to every lender you still owe money to. And tell the lenders you want an affordable payment arrangement for the current balance – this may then be reduced if you win your complaint.
If you have a lot of lenders or you have a lot of other non payday loan debt, think about using Stepchange to set up a debt management plan. In a DMP you can still make affordability complaints and any refunds will speed up clearing your debts.
Rosie says
Just received a reply from MYJAR looking bank statements and pay slips to assist into their investigation. Should I supply these or should they have already asked for these before loans were issued ?
Sara (Debt Camel) says
It’s up to you. Payslip are pointless, waste no time with these if you are sending bank statements.
The statements are to show whether the loans were affordable for you.
But the real question is whether Myjar will actually bother to look at them, or whether they are just sending standard offers whether you send the statements or not, so they are only asking to make the process seem more complicated to you.
Michael says
Hi,
Thought I would share the details of my complaint with Ferratum as there aren’t many posts about them,
I had the following 7 loans,
13/12/2016 – £100 – Interest – £8
06/02/2017 – £150 – Interest – £21.6
23/03/2017 – £100 – Interest – £6.4
08/02/2018 – £300 – Interest – £43.2
19/03/2018 – £350 – Interest – £19.6
29/03/2018 – £500 – Interest – £112
30/04/2018 – £800 – Interest – £336.44
Total Interest paid – £547.24
Ferratum gave me their final response a couple of days before the 8 week deadline,
They did not agree that any of the loans where lent irresponsibly.
However, “In order to bring this matter to a speedy conclusion,” the have offered £370.
Personally I think this is a great offer which I have accepted, given the lengthy gaps in the lending for the first 4 loans.
Mike
Mike_p says
I had a good response from them too. I had a few payday loans from them which were each a few hundred over a few weeks, and then a rolling credit one of about £700 for a year. Like you they didn’t agree that they were lent irresponsibly but “In order to bring this matter to a speedy conclusion,” they offered to write off the current £750 loan as well as refunding me £250 directly. Once I’d replied to accept they dealt with it very quickly, the loan was closed and I had the money in my account about 3 hours later.
Peter says
Different story for me. I had around 50 loans with Ferratum over a 3 year period and paid over £3500 in interest. I will give them credit as they were very quick investigating and great to deal with. But felt they didn’t act irresponsibly in lending continuously. To close the matter they offered £500 as final settlement. Not good enough, so I went to the FOS last month and have just had an adjudicator call yesterday to say they have picked up my case. Fingers crossed!
PHump says
Finally got a response from the adjudicator and he said that QQ had agreed that some of the loans were irresponsibly lent to me – and offered a redress of £300 – the adjudicator said he calculated a total refund of around £1300 – I have asked for my case to be passed to the ombudsman – initial complaint was in April 2018 – is this likely to take much longer does anyone know?
Scott says
Hi PHump,
Hopefully now that the FOS are not looking at Money Shop et Al complaints, things should speed up a bit.
Unfortunately though too many people are escalating 2 loan £100 complaints to the Ombudsman. Looking at “not upheld” decisions from March 19 till present, the sheer amount of unwinnable complaints progressed to Ombudsman level is ridiculous. Clogging up the system and causing long waiting times for people like yourself.
Hopefully you won’t have to wait much longer.
Scott
PHump says
Cheers for the advice Scott – much appreciated – I imagine ill be waiting for another few months before I see this hit my account – hoping the ombudsman decides in my favour .
david warner says
Hi Sara
I currently have an outstanding balance with Ferratum which I am being chased for by a debt collection agency,
I have a complaint logged with Ferratum for unafordable lending and have advised the debt collection agency of this however they have advised that regardless of my complaint I need to pay the outstanding balance and will start legal proceedings if I dont pay them now
I advised that once the complaint is resolved I will then pay any money outstanding however do not want to pay until it has been responded as I might be in a position where Ferratum agree with my complaint and can offset some of the balance with any compensation to make the payment more affordable for me
Do I have to pay the debt collection agency now when the complaint includes the loan that is outstandning and legally can they still persue me for the money / start legal proceedings whilst I have an open complaint againt the loan being unaffordable?
Any help would be appreciated as at the moment I am being harrased all day everyday by the debt collection agency despite several requests to put my account on hold until the complaint is resolved
Sara (Debt Camel) says
Inform the debt collector (who is it?) that the FCA says:
CONC 7.14.1R (1) A firm must suspend any steps it takes or its agent takes in the recovery of a debt from a customer where the customer disputes the debt on valid grounds or what may be valid grounds.
Let us know if you are sent a letter from their solicitors or a Letter before Action/Claim. This would be pretty unusual. The debt collector is probably just bluffing. but don’t ignore legal letters!
To be honest it may be simpler to arrange to pay them a small amount each month – this will only increase the refund you eventually get.
Louise says
Hi all,
My first win! Five weeks in and Western Circle came back to me to say it’s not irresponsible lending etc but are happy to wipe the interest of £300 from my outstanding loan, leaving me about £100 to pay.
I had 6 loans with Cashfloat and the last with Quick Loans Express (both Western Circle) and have paid £546 interest so far.
There is a gap of 4 months and another of 5 months between some of the loans so I doubt I’d get much more through FOS, so I’ve accepted.
Now waiting for Piggybank, Uncle Buck, Cash4UNow, 247moneybox, Pounds to Pocket, 118money, Amigo, Drafty and Moneyboat!
Danny says
Final responses due this Friday and responses so far:
Sunny – 49 Loans, £5500 in interest repaid over 24 months, offered me a refund on loans 37-49 and to wipe existing balance of £413 bringing total redress to £1,911, have rejected this and sent to FOS, financially stable now so will be paying off the £413 this week and will be hoping for a refund on loans 10-49 at least.
MyJar – 6 loans, £2,750 in interest repaid over a 14 month period, rejected my complaint, have sent to the FOS.
QuickQuid – 2 loans, 1 for £200 and immediately for £400, QQ rejected complaint so have sent to FOS, hoping 2nd loan can be refunded because this one I defaulted on.
Ferratum – 2 loans, rejected complaint but offered £224 as a goodwill gesture, have accepted this and happy with it as only paid them around £500 in interest.
SwiftSterling – 2 loans, 1st for £200, 2nd immediately for £925, no response yet, I couldn’t afford the repayments on this and despite paying them over £700 already, i still owe them £1,280, hoping they’ll write off the interest and I can pay them the outstanding loan amount of say £325 otherwise will send to the FOS.
I know i’m in for a long wait with the FOS, but so happy I found this site and from expecting nothing to over £2,200 in offers so far is brilliant so thank you Sara.
ClaireR says
Lending Stream update.
Refund just hit my bank, 18 days after acceptance.
So glad it’s over with them.
It went to FOS in August last year, was picked up in June this year and they agreed with adjudicator to uphold 22 out of 27 loans.
David says
Hi all, thought I’d give an update on my situation with Sunny.
21st June – Adjudicator recommends Sunny refund loans 5-35, gives them to 4th July to respond.
4th July -No response from Sunny.
5th July- Bad review left on trust pilot.
9th July- Another bad review left on trust pilot.
15th July – Sunny get in touch through trust pilot.
18th July- Adjudicator informs me sunny are willing to refund loans 8-35, decide to accept as loans 5-8 weren’t too much interest and save waiting another few months.
Still waiting for sunny to get in contact about redress.
Theyve offered, I’ve accepted, don’t see the point in delaying it anyore.
Mp says
Hi David,
Just a quick question, did the Adjudicator let you know that wasn’t a response from the lender? I wondering whether to chase the Adjudicator or try the Trust Pilot root. Thanks.
Michelle says
I suspect based on my refund , You wont hear a bean from Sunny and very close to or on the final day you will get your refund.
I never heard anything from Sunny and received my refund today
Rachel says
Hope someone can share advice or a similar experience with Sunny’s refund process.
I was granted a refund for approx £2500.
I accepted the offer and was advised twice via telephone this would be in my account within 30 days. I’m now outside the waiting period and no funds have been received. I’ve written emails to Sunny and Elevate/ called Sunny. I seem to be fobbed off at every turn.
Any ideas of what step I should take next?
I’ve also had a refund for over £1,400 from QQ. The refund was paid within hours of phoning them to confirm bank details… Victory!
Can’t thank this website (Sarah) and it’s contributors enough.
Sara (Debt Camel) says
Leave Sunny a bad review on Trust Pilot https://uk.trustpilot.com/review/sunny.co.uk that often kicks them into action.
The refund from Sunny was directly from them? If so, tell them if it’s not paid by the end of the week you are sending the case to the Financial Ombudsman.
Neil C says
Hi I have a query regarding Mr Lender. I started a claim through Resolver & they’ve responded saying they’ve no record of an account with my email address & they don’t deal through 3rd parties like Resolver. I have emails from Mr Lender about loans theyve issued. Anyone had similar issue & if so how is best way to go about getting them to listen & take action? Thanks
Sara (Debt Camel) says
You can have an argument with them about why they will not accept a claim from Resolver who are regulated as a claims management company or you can take the easy option and just send them a complaint direct.
JT says
Hi Neil
I had the exact same issue. They wouldn’t recognise a 3rd party as it’s against gpdr and they can’t disclose personal info etc.
I have since emailed them from my personal email (the email I also used to register with them) and they acknowledged receipt of complaint immediately. Not sure why they are being fussy about it when all other lenders have recognised resolver as a valid platform for complaints.
Hope that helps.
Neil C says
Hi JT, thanks for that I’ll give that a try when get home from work, thanks
Neil C says
Thanks Sara I’ll go straight to them, all previous claims ive went through a Claims company but wouldn’t have wasted all that time & money if I’d known of this site 18months ago. Thanks
Gill says
Hi Sara and others
Any experience with Abermarle Bond cheque cashing? I consistently used their services in one local branch over a couple of years around 2012./13. Their head office claims no records have been found in a Final Respobse. Maybe that’s true and their record keeping is non existent. Not sure what I can do next. Any advice welcome!
Sara (Debt Camel) says
Do your bank statements show the loans?
Gill says
Unfortunately not Sara. Can’t get statements going that far back from Co op bank despite several attempts trying. Don’t think it helps that the account is now closed.
Ljc says
Hi Gill
I have loans and cheque cashing with speedloan and Albemarle and bond – I submitted my claim to fos last July as Albemarle didn’t respond to me – Albemarle did them respond to me and said they were no longer trading (some branches have closed and the one I used was one of them ) and that they therefore couldn’t look at my case – I then said to FOS Pursue them for the speedloan one and the adjudicator wrote to me in March saying he’d received some details from them and was looking into it and the link between 2 companies but I’ve heard nothing since then even though I’ve messaged them twice for an update …. I’m actually getting a bit fed up as now TMS is now in the position it’s in I can kiss goodbye to a potential 8k and I also have QQ sat there too , so I sent an email to fos asking for updates this morning on my 2 cases for QQ and speedloan (+Albemarle and bond but don’t think will get anything from this one )
Gill says
Thanks Ljc for the response. Not sure if it’s worth me taking it to FOS as there appears to be no evidence. I’m in the exact same boat with TMS and quick quid/pounds to pocket
Ljc says
Hi Gill
Yes speedloan or whatever they’re called said they couldn’t find any details but I gave to the FOS a couple of bank statements from 2010 showing payments made to them , so they went back to speed and they sent fos some info but I’ve heard nothing since and sent a reminder yesterday . I would still go to fos as some of the Albemarle & bond shops are still trading – Fingers crossed we both and for many others too get some kind of decent payout
Mart W says
Lending Stream – One of the best things about this forum is looking at posts regarding certain lenders and the process timeline/they’re running to. With that in mind I had a response from the FoS on Friday who had told Lending Stream to refund all 7 loans I had with them. Lending Stream agreed with FoS quite surprisingly but say it takes 28 days to refund. (5 minutes to lend irresponsibly, 28 days to refund – go figure). I also had to submit my new bank details which I emailed on Friday also.
To date I had received no response so rang them. Was advised that the 28 days started on Friday and they did have my new bank details but they’d not responded for some reason. My own personal view is that they are just being awkward and taking as long as possible but supposedly the 28 days is a maximum and is usually before then so will reply to myself to advise how long it took.
As advised by Sara I have also left a Trust Pilot review so let’s see how effective that is.
Mike_p says
How long did it take them to reply to the FOS decision? My adjudicator sent them a decision three weeks ago but I’m still waiting for a response.
Zoe says
Hi Mike,
Same position just over 3 weeks and no reply. I asked my adjudicator for an update on this and my Satsuma complaint as all getting on for 4 weeks and she had heard nothing from either.
Sara says
We have had this today which just seems like a stalling tactic- We don’t expect the businesses to ignore our communication and we have been chasing them regularly. Casheuronet has provided some comments about your complaint and we are working to resolve this as soon as possible. We have senior colleagues liaising directly with Casheuronet and we are keeping the FCA updated about it. We hope to have an update soon for you but I can’t guarantee whether this will be in one months’ time or longer.
Mart W says
They were a day late of the 2 weeks they were given. I have since had my email from them confirming my acceptance so I’m in the 28 day window at least. Question is did it start on Friday when I accepted or yesterday when they confirmed it. They say the 28 days is maximum though and think they previously had backlogs so maybe they’ve caught up.
Louise says
Just had a response from Cash4Unow, again about 5 weeks after sending my complaint.
I only had 2 loans with them, they have admitted they should have asked for more information before providing the second loan so have removed about £400 in interest and will remove it from my credit file once paid.
I have of course accepted as this is a very fair offer and have found them very professional to deal with.
So far, so good!
Dale says
Myjar have agreed a redress of £232 to me which I have accepted. How long does it roughly take to hit my bank? My case was an extremely complicated one of which I most certainly know I could’ve got more if I had taken to FOS however with the timescales and the uncertainty around lenders at the minute I’ve decided to cut my losses and take the “something is better than nothing” approach.
R says
Hi Dale,
Personally, I would have taken the FOS option, if you were confident that you would’ve got a lot more. My, initial, offer was on 4 small loans to be taken off the amount owed. I rejected this and tried to compromise by asking for the interest on the final loan to be wiped and a modest refund of £130. They rejected. I sent to FOS and they agreed with the adjudicator findings which meant I was refunded on loans 5-18 and the interest on the final loan wiped away. Total redress was £1370 after tax. The case was sent to FOS in May and resolved by July. The adjudicator took 5 days, after contacting me, to reach a decision and MYJAR responded within 4 days and refunded 8 days later.
Peter says
Hi Dale,
I had a complaint with MyJar last month, I had borrowed 11 loans and paid around £1000 interest. They offered me redress on loans 4-11 and I received my payment of almost £700 within a week. They are the best I have dealt with so far to be honest (I have about 5 or 6 claims ongoing at the moment).
Hope this helps and you get your money through soon.
Rich S says
Hi Sara,
After starting in April last year my adjudicator has just let Lending Stream know that I accept their proposal of paying back my loan charges + interest and wiping my credit file for loans 9-40.
Absolutely thrilled and just wanted to say thank you for your wonderful site and advice. Really helped and my adjuticator was really helpful as well. Just got to wait the 28 days now.
Elaine says
Has anyone made a complaint to Swift Sterling? Just under a week to go before I should hear a final response.
Stu says
Hi, what are the details for them. I’ve had loans with them but never put in a complaint.
Thanks
Scott says
Hi Stu,
It all depends on when you had your loans. If they were pre December 2015 then you are best to see this page as the process is s different if they reject your complaint
https://debtcamel.co.uk/swift-sterling-pounds-till-payday/
If your loans were from January 2016 onwards then you can contact:-
complaints@swiftsterling.co.uk
Scott
Chris says
Hi, Has anyone had LS make an offer without going to FOS?
D says
A few have but it really is only a very small few and I think their offers are usually awful
SIMON127 says
Surprisingly yes, they agreed to refund 6 of 8 loans from 2011-12 which equated to £1,050 interest refunded along with £600 statutory interest.
Didn*t expect them to uphold the complaint due to the age of loans so was surprised to received the offer above – which i accepted then received the refund after 21 days of accepting.
M L A says
Hi all, I currently have a case against sunny with the FOS, the adjudicator has come back today and said he thinks sunny should refund me for loans 3-26 and has given them two weeks to respond. Any idea how quick Sunny tend to respond and what their rate of accepting the adjudicators response is?
Thanks!
D says
Tomorrow is lending streams deadline to accept or reject adjudicator offer. Is it at that point they make the offer or do they accept and then make the offer separate?
Also waiting on myjar accepting the verdict against them, with only zippa to go now the light is at the end of a very long dark tunnel
R says
D,
MYJAR tend to accept adjudicator decision. They accepted mine, after making me a paltry offer, which turned out to be much higher than what they offered. They took around 5 days to agree with adjudicator.
Ann says
Hi can somebody help please .Sunny has refused my claim I’m not surprised to be honest .so I’m going to send it to ombudsman.
Will I wait to other lenders reply and send them all together or separately it will cost a fortune for Bank statements to be printed .
Loans was issued from January my statements are 3 monthly will I send from Oct to Jan
Thanks In advance
Sara (Debt Camel) says
Send each complaint seperately. You will get a different FOS reference number for each, some may be picked up sooner than others.
You can share bank statements and a credit report across complaints – – just tell FOS for a later complaint that you have already sent the statements from Oct to Jan (or whatever) for your Sunny complaint reference number 431354.
Sent statements from 3 months before first loan, so from Oct sounds right. These don’t have to be printed if you can download them?
Ann says
Ok thanks I’m not sure how to down load them and sent them as an attachment but somebody will help me with it I hope thanks Again .
KK says
Good morning.
I had my complaint upheld by Myjar. They accepted that the loans should not have been provided so they have paid back the interest and statutory less the amount borrowed which is great but the reason I complained about them (and all the others) was because of the negative impact it was having on my credit file.
Since putting in my initial complaint, Myjar have added 2 default notices to my account. I have asked for them to remove them but they have said no.
My question is, if they have already accepted that they should not have provided the loan, can i complain to the FOS to get them to remove the defaults?
Kate says
Ferratum have made me an offer which I have rejected. I had 10 loans with them in the space of 8 months. They have advised they do not uphold my complaint of irresponsible lending and they believe they carried out all necessary checks. Despite the fact they have not upheld my complaint they have offered me £125??? I don’t understand why they would offer anything if they don’t think they have done anything wrong…..
However I have said no thanks to their offer and the fact that i was borrowing so frequently should have alerted them to the fact that I was in some sort of financial difficulty.
Will wait and see if they respond to that, if not it’s off to the FOS………
Ann says
Hi I’m wating on them getting back to me is all your loans paid I’ve still got one outstanding .ive had 7 from November but 2 were over 4 months increasing every time .i 8 weeks next week .
Thanks
Kate says
Hi Ann,
yes all the loans I had with them are paid off. I emailed them yesterday asking for an update (my 8 weeks is in 2 weeks – just get fed up waiting) they replied almost immediately with that poor offer.
Hope you get on ok with them.
Ann says
Thanks my 8 weeks are up on 5th August I went online chat today they say it can Take up To 8 weeks did u pay lots in interest.Hope they come back with a better offer .