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?
Alessandro says
Thanks Sara.
I can’t believe that UB say that they give the loans based on what people write on their expenditure without seeing that I was overdrafted and full of other loans with other normal lenders and payday loans.
This is really redicoulus.
Of course I ll take it to the FOS
Mike_p says
I had a word for word identical comment in the response they sent me, somewhat ironic given that they were moaning that my complaint seemed to be based on a template! They also said that they considered my complaint “frivolous and vexatious”. I subsequently sent mine to the FOS and I never heard anything else from Uncle Buck, just a phonecall from the FOS adjudicator to explajn the process and later on an email with her decision. As it was only a few loans I would have probably left it normally, but I escalated it because of the threatening nature of their response.
Ste says
Hi All
I have just received a email from the adjudicator in regards to my complaint to Lending Stream. They have found in my favour loans 4 to 36. They have given Lending Stream until 8th August to respond. Just wondering what my options are at present and what to do?
I have found the posts on here so helpful and it does give me hope I can get back something!
Mike_p says
Wait is the only thing you can do really, they are deliberately bad at complaint handling and will delay and frustrate everything as much as they possibly can. Don’t expect a response from then until at least a month after the adjudicator sent them their decision. If you accept then they will wait for about three weeks after they receive the acceptance, and then claim the 28 days they were given to pay out applies from then!
It can be frustrating but the funds do seem to come through in the end. I tried asking them about progress a few times and so did my adjudicator but they ignored both of us. You could try leaving them a bad trust pilot review, don’t expect it to make much difference but it will help show other people how obstructive they are.
ME says
Thank you for the information, Sandra and Debbie.
I have now received their acknowledgement of my complaint which detailed the list of loans I have had with them and how much I have repaid. They have asked for any further information that I feel may support my complaint, including bank statements and a copy of my credit report. I am a bit dubious about sending them this information as I know i’ve previously read comments to state that people are unsure how much notice the lender pays to bank statements, and they should already have a record of my the credit checks that were done at the point of each application. However, I am prepared to provide that information to the FOS if it comes to it. I suppose I will just see how it goes first.
Thanks,
ME
Iain123 says
The only criteria for a payday loan is a pulse. Honestly, if you’re breathing they’ll give you money.
Get straight on the FOS Monday morning.
Joe says
Hi Sara.
Have posted a few times about my complaint with Cash Converters and that the franchise has gone into liquidation.
My question is, the liquidators are being very vague about everything. They have said they agree to the findings from the FOS and I am due £5600. They insist the liquidation is solvent, so I will get paid once the accounts are unfrozen and the funds released.
To be honest I have no idea what exactly that means? The franchise are trading still, mainly in cash transactions, and they want into voluntary liquidation on the 8th of May. Does it normally take this long to unfreeze bank accounts? How can the liquidators be sure that in a cash heavy business, that assets are not being stripped down and cash going missing, so creditors don’t get paid?
The liquidators are not very forthcoming with any information, and I have no idea what to do.
Thanks
Sara (Debt Camel) says
“How can the liquidators be sure that in a cash heavy business, that assets are not being stripped down and cash going missing, so creditors don’t get paid?” because the liquidators will be running the company at this point. They aren’t a team of accountants who wander in to do a quicke check everything is OK. 8th of May is very recent. i suggest you take to asking them once a month if there is any progress.
Holly says
If you have accepted a final response and had payment from a company sunny for example , are you able to re open it again If you think you should have been paid more ?
R says
Unfortunately not! Unless the company has done something seriously wrong?
Holly says
you had 20 or more Sunny instalment loans (please see attached Loan Summary Sheet(s) for further information); and
ii. taking into account all loans you were charged interest for 18 months or more; and
iii. you had no significant breaks in lending.
They accepted loans 15th on but I think they should have accepted ones way before this
Sara (Debt Camel) says
yes, your refund should probably have been from loan 4, 5 or 6. that would have been a lot more. But sorry, you can’t reopen this complaint because you accepted what was offered :(
mandy mason says
I have been awarded £2900 back from lending stream, but why do I have to pay 20% of my winnings to the tax man, by the time I’ve paid solicitors and the tax man i’ll be left with £1300, I may sound thick but I don’t understand when I have already paid my debt off
Sara (Debt Camel) says
You only have to pay 20% of the extra 8% interest that is being added. And you may be able to claim up to £200 of the tax deducted back from HMRC, see https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
Sorry nothing can be done by the amount the claims company has ripped off for sending a couple of emails :(
Emma says
Hi all.
Has anyone had any luck with Loans 2 Go? I stupidly took a loan out with them, even though the interest is ridiculous, and even though I’ve arranged a payment plan with them, I think I would like to try my luck at getting the loan written off.
Any advice appreciated.
Sara (Debt Camel) says
Yes! their interest rates is indeed ridiculous! See https://debtcamel.co.uk/worst-loan-in-britain/
MM says
Lending Stream agreed with my Adjudicator to refund two out of the 5 loans that I took with them, so a refund of £555.98. A drawn out process as I put the original complaint into LS in November 2018 and had anticipated on FOS finding in my favor with 4 out of 5 of the loans. But much better than nothing. As always huge thanks to this site for all it’s assistance.
S says
I put in a complaint to FOS on Thursday about waiting over a year to have my H&T complaint assigned to an adjudicator, by Friday it had been assigned and I had their findings.
They have upheld my complaint and said H&T should not have lent to me. They have suggest a redress for all four loans.
Does anyone know if H&T usually agree with the adjudicators and make an offer or will it go to the ombudsman?
Kirsty says
After my not exactly positive comment last week, I thought I’d share a happier tale.
I had a fair few loans with Quidmarket, in 2013-14. I submitted a claim through a different website (don’t know if I can name check them here but it’s endorsed by Martin Lewis), giving the scantest of details – for example, when it came to giving dates the best I could provide was “up to and around August 2014”. They came back to me within 7 weeks, giving full details of all the loans I’d had with them, when they’d been paid back, if they’d been rolled over etc, and confirmed the info I’d given them when applying for each loan, including employment status, income and the like. They gave a breakdown of their analysis of each lending decision, and stated that they might have made a different decision from loan four onward (when the amount I was borrowing started to increase).
With no back and forth, they offered a settlement of the interest paid on loans four through nine, and the stat interest on top. I am happy to admit that I agree with their analysis of each loan. I had no reservations accepting their offer, which amounted to more than £700. They went above and beyond in dealing with my complaint on the scantest of information from me and I just wanted to let everyone know that they dealt with me in a very fair and reasonable way. I’d encourage anyone else who feels they have an issue with Quidmarket to go ahead and contact them.
eddy says
anyone accepted redress offers from MyJar or QuickQuid directly,
if so how long did they take before they replied to confirm they had received your acceptance letter ?
im guessing by not confirming its just a delaying tactic
eddy says
poor review on trust pilot today got me an immediate reply that they received my acceptance and my settlement form with my bank details on.
Now just got to get the confirmation from quickquid!
Kc says
Hi.
I have received an redress offer from pounds to pocket and they have detailed a number of loan for which they are willing to payout, which is the good news.
However, on the payout table they have used a figure from a column called interest and fees paid. But there is a higher figure in a column next to it called total repayment across loan term. I have copied the details below and you can see . Should they be using 240 to calculate the redress instead of the 162.5? As far as I understand if it says I paid 440 back on a 200 loan (including rollovers) why would they use the 162.5. Any advice would be helpful. Cheers
payday 2/17/2009 initial loan 200 interest and fees paid 162.5 total repayment across loan term 440
Sara (Debt Camel) says
I don’t know, i think you should ask them to explain it.
Jonny says
Hi, an adjudicator upheld loans 4-13 against sunny and asked them to refund interest and remove adverse credit reports etc, they had 2 weeks to respond to his findings but didn’t get back to him, they had a 1 week extension which they also didn’t get back to him, then a week later he has just emailed me to say that they don’t agree with his findings and that it’s going to an ombudsman, anyone have any idea if they normally agree with the adjudicators decisions or not and roughly how long I’m going to have to wait for a decision from the ombudsman? Sunny have been horrendously hard to communicate with and made everything as hard as they possibly can!
Sara (Debt Camel) says
Yes Sunny are being very difficult. Ombudsmen agree with the adjudicators in most cases, sometimes they tinker with the number of loans, so it could turn into 7-13 upheld or 2-13 upheld.
Probably several months for an Ombudsman decision.
Aymen says
Update about my complain to SNC
first thanks to this God send website and effort of nice people here giving guidance and advise and thanks for hard work SARA !!
I put complain in 10/06/2019
extend in 10/07/2019 till 10/08/2019 (8 weeks )
Got final response today 05/08/2019
5 days before deadline.
here is their response :
Therefore, we propose that we provide you with a redress of all the interest that you have paid since
31st July 2018 (£1244.93), plus statutory 8% interest (£52.25). In line with HMRC guideline we will
deduct 20% (£10.45) 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 (£109.12) and then
deduct your principal outstanding balance (£690.00) 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 £596.73 payable directly to you. Any adverse markers in relation to this SafetyNet Credit
Account will also be removed from your credit file.
one down few to go
i have quick question how to cancel CPA to Sunny, because i went to the bank to cancel it it seems the woman in bank (HALIFAX) she doesn’t know anything about something call CPA even i explained to her what is it…
thanks and good luck whoever waiting for SNC .
Lauren says
I had a similar success with SNC today, have accepted the offer and gave my bank details. Just waiting to see how long it will be until it’s in my account. This refund is going to make SUCH a difference, thanks to this website for all its help!! :)
a says
Hi Jonny,
I had similar with Sunny. It was passed up to ombudsman on 30th May after Sunny’s offer didn’t line through with adjudicator decision and I received the final decision 15th July. Ombudsman agreed with adjudicator and I am now waiting on the payment on loans 6-38 rather than 18-38 which is what Sunny offered through Adjudicator.
Chris H says
Lending Stream Update: 21 days after confirming my bank details, I have received my refund! So ring LS and confirm those bank details as soon as possible, for anybody who is in the position I was.
I’ve now reclaimed probably over £7000 in the last 18 months thanks to this website. I’m glad my nightmare is over and I can stop stressing and move on with life. This money will make the world of difference to me.
Sara, I cannot thank you enough for what you have provided for myself and other people who got into this mess.
ME says
Hi Sara,
Would you be able to offer any advice? I had loans with Mr Lender as follows:
06/15 £500 over 6 months
11/15 £500 over 6 months
05/16 £500 over 6 months
06/17 £600 over 6 months
11/17 £500 over 6 months
The adjudicator has come back to me today saying they are not upholding my complaint with the generic response but specifically note that the gap between loan 3 and 4 being long enough that this would be considered a new lending relationship. During this time (between loan 3 and 4) I had taken loans with other payday lenders and at the point of taking loan 3 I had approximately 3 other payday loans open and 2 credit cards maxed out. Not sure if it’s worth pursuing to Ombudsman level as the adjudicator has stated that any further information will be considered but the information I have stated is available to them within bank statements already.
Don’t want to waste my time and clog up the system any further especially as from reading here the Ombudsman generally agrees with adjudicators with the exception of the of tweak but wanted your opinion.
Regards,
ME
Sara (Debt Camel) says
I would say it’s worth it. It’s not the strongest case obviously but it’s a fair one to try.
L says
Hi
Had an email today from an adjudicator regarding my complaint against Sunny Elevate.
Adjudicator has found in my favour, request is to refund loans 3-23 plus 8%.
QQ already rejected offer so now awaiting Ombudsman decision, Great delay tactic by QQ.
Anyone had Rejected decision from Sunny now ombudsman?
Thanks
L
Neve says
Hi L,
I’m in exact same position, Qq rejected mine left month and Adjudicator said sunny they should refund loans 4-28 but sunny rejected this last week so now awaiting ombudsman.
Hoping it doesn’t take too long!
Colin says
Hi All, I am currently paying back 3 loans all due to end in the next 6-8 months, all loans are repeat loans.
My question is can I make a claim even if the loans are still being paid back? Also do you still make the repayments for the time being? Does this affect your credit report if you are still making the repayments? Any advice would be great, the charges are crippling me. Loans are with MyJar, LS and Likely Loans.
Sara (Debt Camel) says
Yes you can claim before the loans are repaid. If you can only afford the repayments by borrowing more it’s your best choice, or the cycle of borrowing to repay other debt just carries on for ever.
Often the easiest thing is to offer an affordable repayment while the complaints go through. Or set up a DMP with StepChange which is the same thing but StepChange do the negotiation for you. The lenders you mention are not the easiest to deal with and you need to expect the complaints will have to go to the Financial Ombudsman so this can take many months so you have to get yourself in a safe financial position to be able to last that long. Any negative marks on unify credit record will be removed if you win a complaint.
If the loans were large and you only had a couple from the lender, use the template letter on this other page https://debtcamel.co.uk/refunds-large-high-cost-loans/
Mike_p says
When I complained to Myjar they automatically froze the interest on my account and set up a payment plan that wasn’t due to start for 4 months. They rejected it and when I took it to the ombudsman they automatically delayed the start date of the repayment plan by another 4 months.
I didn’t ask them to do that so if you specifically ask them to do that I don’t see why the would object.
Nicki says
Hello,
The adjudicator upheld my complaint against Mr Lender today. Can anyone share their experience as to whether they tend to agree with adjudicator and if so, how long they take to refund redress? Thankyou in advance
Robert says
Im my case Mr Lender rejected the adjudicator’s decision however 10 days later I received e mail with information that Mr lender is ready to accept the decision. I received money days later. Good luck!
Lorraine says
apologies if this has been asked before but has anyone had any dealings with cash4unow and paydayuk?
cash4unow have responded to me insisting they have lent responsibly and mention my credit score, the fact that I signed to say I could afford the loans at the time – their response is 5 pages long. I took the loan out at the end of 2015 and rolled it over many times as I couldn’t afford to repay it back after resigning my job through depression, stress and anxiety – along with a ton of other loans I had taken and couldn’t pay back from other lenders.
with paydayuk, I received what they termed a ‘holding’ letter on ‘day 28’ stating they were investigating. I didn’t hear anything until another letter termed ‘day 56 holding letter’ informed me that they wouldn’t be investigating further as they were going into a ‘scheme’. I just feel like they were dragging their heels because they knew of the impending scheme.
Any advice would be appreciated.
Thank you.
Sara (Debt Camel) says
cash4unow – send the complaint to the Finacial Ombudsman as they have rejected it.
payday UK were very slow at complaint handling, see https://debtcamel.co.uk/money-shop-to-close-two-million-customers-will-be-informed/ for the latest situation. This complaint can’t now be sent to the financial ombudsman.
Colin says
Hi Sarah,
But what happens if I can just about afford the repayments, can I still pay back the normal amount whilst the claim is going on, I also don’t want to end up in a plan as that will kill my credit file for the time being, am I just better waiting until the loans have cleared and then complain?
Sara (Debt Camel) says
“what happens if I can just about afford the repayments” can you? for 3-9 months? you described the charges a crippling. That sounds as though the least little thing will mean you can’t.
you don’t have to say you want a repayment plan. You can just carry on making the payments. but it’s normally not a good idea.
Kylie says
Hi Sara, I need some advice with regards to lantern. I borrowed with cash genie years ago and the money owing later got handed over to MMF in 2015. (now lantern). I have been paying a small amount off each month since then to lantern. I have only recently found out that mmf offered refunds back to clients in 2016 and also cash genie went into liquidation. I don’t recall ever being informed of this. I’m not sure if I was offered any redress etc. I contacted lantern who say I still owe the debt as it was sold to them, I asked for the date it was sold and they couldn’t give me an answer. I have been paying this debt off and cash genie aren’t even trading anymore so I’m a bit stuck as to what to do now? The annoying thing is that I’ve nearly paid it off with lantern now! Any advice would be appreciated :)
Sara (Debt Camel) says
They should be able to say when they bought the debt. And also to produce the CCA agreement for the debt and a statement of account showing what yiu have paid, when and what any interest / charges added have been. See https://debtcamel.co.uk/ask-cca-agreement-for-debt/.
Mike_p says
I thought I’d mention my experience with Swift Sterling as they don’t get mentioned much. I had four loans with them averaging £500 each. Three of the loans were taken back to back with one running concurrently with the third, and I had just taken out the fourth when I complained. They said they couldn’t uphold my complaint but as a gesture of goodwill they offered to remove the balance on the fourth loan which I accepted. As the fourth loan was largely outstanding it effectively amounts to a refund of the interest on loan 2 so I wouldn’t have got any better by going to the FOS.
They took the full eight weeks to give a final response but they replied on the first day accepting my request to put the loan on hold while they investigated.
Sarah says
Hi
I’ve had great success with qq, I am now waiting on snc which I believe will be fair judging by others and within the next four weeks (they’ve just extended to eight weeks) I’m waiting on 247 and provident.
I have no statements for provident and they haven’t given me an answer in eight weeks but have acknowledged my claim. What should I do to escalate this with no proof?
Thank you
Sara (Debt Camel) says
Send Provident to the Ombudsman straight away, they keep delaying and hardly ever seem to make a good offer at the end.
Brian says
Made a complaint to Lending Stream about a few loans i had with them (started at £500 then £1000 then £1250 with no gap whatsoever). They rejected the complaint as most others do so i asked for all my information to prepare my complaint to the FOS.
When looking through my applications they sent to me the figures are wildly inaccurate regarding my expenses (to the point that Im certain I never entered them, eg rent has gone from £500-£450-£275 according to the applications. None of those figures are correct and i certainly didnt enter them).
Another thing I noticed is that on my application for the last loan under amount required I entered £1000 but they lent me £1250. I asked them why this happened and they just said to me that although I applied for £1000 i was offered more when confirming the amount and i took it (well i was in a payday loan cycle, so i obviously took more).
And the last thing is they refuse to send me a copy of my credit report they hold for me instead giving me the usual…speak to the CRA if you want that, I sent them an email saying they are the data controller etc and threatening a further complaint for being obstructive but they have gone quiet (not surprisingly)
Anyway, long story short. When i put in my complaint to the FOS shall i just roll it all into one (the unaffordable lending and the obstructive complaint handling or should they be two separate complaints?
Thanks very much
Sara (Debt Camel) says
Just one complaint.
Have you sent then a Subject Access request for all your data? If they are refusing to send the CRA data, report them to the ICO.
Lorraine says
Sara, thank you for your reply.
I notified cash4unow that I wasn’t happy with their response and that I was escalating my case to the FOS. Within 30 minutes they have replied with a counter offer stating they will write the outstanding balance off (about £100) to close the case. I am thinking of accepting with the proviso they amend my credit file accordingly. Is this reasonable for me to ask them to do this?
Sara (Debt Camel) says
Definitely a reasonable request.
It’s up to you if you think this is a fair offer – do you know how much interest you have paid over time on this loan being rolled over?
Holly says
Hi all , I have received this from 247 money box today ,
You have borrowed a total of £1635.00 from us, and repaid a total of £1452.60 to date. This means unfortunately there is no redress we can offer, as the principal balance is yet to be repaid (refunds are calculated from interest and charges paid over the principal amount funded.)
Your current outstanding balance is £415.20. However, we are happy to accept back the remainder of the principal borrowed, which is £182.40. Once we have received this payment, we can write off the remaining outstanding balance .
I am ok with this , is this ok for me to accept ?
SIMON127 says
Have you taken out multiple loans that total the £1,635.00 and have you repaid previous loans quickly as the amount you have repaid plus the outstanding balance – seems like a small amount of interest to be repaid against loans totalling £1,635.00
In my opinion If the numbers are correct then it is a reasonable offer and you wouldn’t get anymore referring to the FOS.
Holly says
Simon , Well that’s what I thought and conveniently enough they have put error next to the part we’re it says the loans I have taken out and how much.
I have asked them for a break down of this , I did take loan after loan almost every month and paid the loan back the next month. I do think I should be paid some redress on the loans I’ve taken out and I think that will equal more than some of the balance they are writing off
D says
Lending stream really are a despicable shower of bastard’s (excuse the French) a horrible horrible lot.
A week after the FOS deadline after me leaving a bad review every day on trust pilot they got back accepting the FOS decision.
Today I thought I would call them and cut off their time wasting by issuing my new bank details. However again to delay they said I’d need to wait till they got back to me and then send my bank statement showing my new details (this is absolute nonsense btw, they don’t require this it’s just more stalling,) quickly got on to my adjudicator who told me to send it to him and he would then send it over to hopefully combat any stalling tactics they have.
Any other stunts they try and pull I should be aware of?
I can’t wait till they’re gone from my life and end up just a distant memory
Holly says
Hi s
Just a quick update on 247 money box I borrowed £80 interest 110.80
£106 interest 107.20
£100 interest 116.80
£80 interest £107.52
£175 interest £208
£200 interest £252
£200 interest £208
£300 interest £ 321
The above second interest amount the last two numbers are the interest so last loan for example of £300 I paid £21 interest.
The current loan I took out was £400 still owe £400 plus £15 interest
So they are wiping all of that and asking for a sum of £182.40 to close case .
I hope this helps
SIMON127 says
Hi Holly
I would accept the offer as they are basically writing off all interest that has either been paid or still owed.
If you cannot settle the outstanding balance in one go setup a replacement plan to repay the outstanding principal.
Good Luck.
Steve says
Has anyone made a complaint to zippaloans.com.
D says
Yes pal it was me.
They rejected me out of hand. Asked them to reconsider. They didn’t so now at FOS
Colin Brown says
Hi All,
Just looking for some advice please from you amazing people!
I have 3 outstanding loans:
MyJar – Loan finishes Jan-20 repayments £150 pm – new loan taken out right after first one finished
Likely Loans – Loan finishes Mar-20 repayments £280 pm – new loan taken out right after first one finished
LS – Loan finishes Dec-19 repayments £300 pm – 2 loans taken out at the same time
I want to know the following:-
1) What do they initially do? For example do they stop your repayments?
2) If I am in a position just about to make the repayments do i continue to do that whilst the complaint is being looked into or do they automatically stop the repayment?
3 If I do continue to make the repayments as the complaint is looked into do they automatically affect your credit file?
What I am trying to ascertain is do i pay off the loans if i just about can and put the complaint on hold and then complain or complain now.
I do not want any adverse info on my credit file as I am buying a house in 12 months.
Please explain to me what realisticly will happen, none of the loans were checked for my bank statements to see they were affordable and there were multiple debt repayments on there so they were irresponsible to lend to me without checking as if they did they would have noticed the loans were unnafordable, there was also more money going out the account that in etc.
Sara (Debt Camel) says
“I do not want any adverse info on my credit file as I am buying a house in 12 months.” so you have a deposit already?
If these loans are unaffordable, the chance of you getting through to the end of all these loans in 8 months time without having to borrow more is very low.
“just about being able to make the repayments” doesn’t sound to me as though planning to repay them then complain is a realistic strategy.
What other debts do you have?
John says
AFTER waiting over a year on 5lemders complaints my update is 118118. Semt Aug 18 (two weeks ago when talking to Fos. Sudden realisation 118 had never sent any paperwork)., Lending stream. Sent Aug 18. Adjudicator decision July 19 waiting on payment of1
£1600 (35 days my time) since accepting. Quick quid sent aug18 adjudicator ruled in my favour Jan.19 waiting on Ombudsman. Sunny sent Fos aug18 awaiting decision since June 19 still not apparently enough paperwork. Satsuma sent Fos Sept 18 adjudicator upheld 8 loans rejected by satsuma a last Friday awaiting correspondence. I’m obviously happy about the decisions but in four out of 5 of my cases paperwork was only sent to Fos when I intervened. Obviously they (Fos) are extremely busy but surely a year in this should not be happening. Reading between the lines 118 complaint has only just got to the right department. This week. I am speechless
Janet Street Porter says
Has anyone had any dealings with Drafty? It’s a Lending stream offshoot and utterly frustrating beyond words.
I complained in Feb 2018 and adjudicator sided with Drafty, so has been in the Ombudsman queue for nearly 16 months. Tearing my hair out with the insane interest and appalling behaviour of Drafty.
I also feel that 16 months is excessively long a wait. But I keep getting told by FO that it’s just a huge backlog.
Anyone else got any info, successes etc.
A says
Hi all,
Has anyone any experience with Satsuma/Provident through FOS? They rejected my 4 loan complaint of £150, £250, £750 and then £2k. All loans applied for and approved consecutively without breaks. They are now at least 2 weeks behind the deadline to provide info to my adjudicator.
Regarding Sunny – I see them get quite bad reviews on here due to poor customer relations and not meeting timeframes. I’ve had a fairly positive experience with them, even although my complaint had to go to ombudsman level due to a poor offer which was not per the adjudicator decision. I received my £3k refund today, 4 days earlier than the 28 day deadline. The 28days also started from the day I accepted ombudsman decision and NOT the day the company receives your bank details which I have seen some others say. I phoned them a couple of time to check they had received bank details and then to check status of refund and got through to really helpful staff both times. For all of the company’s faults, I’ve found their customer relations to be pretty smooth.
I just wanted to share a rare positive experience with you all! :)
Out of 6 complaints I’ve had 3 upheld – £4.5k refunded and approx £1.3k interest wiped. Awaiting the final 3 being picked up/responded to.
A
Sara (Debt Camel) says
Satsuma are being very slow.
Calling that Sunny experience a positive one is setting the bar pretty low! First they didn’t make you a good offer directly to your complaint, which the FCAs DISP rules say they should, settling complaints in line with FOS decisions. Then when you had an adjudicator decision they still didn’t take account of that but came back with a lower offer 🙄
A says
Only a not bad experience in terms of missing FOS deadlines and bad customer service Sara, just the guys on the phone really. I was prepared for it to be dragged out even further despite now being legally binding but the individuals I dealt with were polite and helpful.
I have to say the standard generally is pretty low with these types of companies so I had low expectations :)
Sara (Debt Camel) says
Haha yes, I guess I would give them about 2 out of 10 overall. Lending Stream gets 0.
Lorraine says
Hi Sara Response from Uncle Buck – I know it’s probably because of my anxiety and depression but I’m finding it really difficult to rationalise at the moment. Here is some of the response:
You have made a total of nine applications to Uncle Buck Finance LLP. Four of these applications were either declined by us or cancelled by you, leaving six loans funded.
If you choose to refer your complaint to the Financial Ombudsman Service … we will ask you to explain any discrepancies between the information you supplied to us at the time of your applications.
I have reviewed the credit searches …and confirm there was nothing within your credit file which would have given us reason to decline your application.
…you specifically agreed to the following disclaimer: “I agree that the financial information provided is accurate and I have considered potential and future income and outgoings in determining my ability to repay the loan requested”.
We also make use of publicly available information, where relevant. This may include social media.
We have to assume that applicants apply genuinely, that is not to then retrospectively make a complaint.
I understand that you struggled to repay your final loan that you had here with us, however I am confident that all of the necessary checks were carried out when we assessed your application.
Thanks again for all your absolutely fantastic help – you deserve a medal for this.
Sara (Debt Camel) says
I think that is quite close to being aggressive.
The good news is that you don’t have to explain ANYTHING more to them or communicate with them at all. If you send the case to the Finacial Ombudsman (FOS), all communications after that will be through FOS, not direct with UB.
I think you should send it to FOS. The fact they declined some applications from you means they knew you were struggling. But they still gave you 6 loans without asking for verification of expenses eg by looking at your bank statements!
Also read https://debtcamel.co.uk/payday-lender-says-lied/ which looks at this sort of situatiom.
Mike_p says
Does anyone know how MyJar are likely to respond to an adjudicator decision upholding my complaint. Do they usually agree it is it likely to have to go to ombudsman level?
A says
Hi Mike,
They responded and accepted my adjudicator decision on 2 out of 2 loans (large high interest as opposed to lots of short term loans). All the best with your complaint.
A
Faye says
I have asked satsuma for my
Information but they are not responding . Should I go straight to FOS it is 3
Months since I requested information twice
Joseph says
Don’t bother wasting anymore of your time, send to FOS! Even if they do reply in the meantime, you’ve saved some time as FOS queue’s are a little long at the minute. Good luck!
Alex says
Wow, that looks a copy and paste of the response that UB gave to me. A section of the email is very threatening. I have sent it str8 to the FOS.
Lorraine says
Hi Alex – yes – I think it’s a standard response they send. There are lots of statements in it that are quite aggressive. I’m currently just jotting everything down then I can send it all to the FOS. They don’t acknowledge once, or have any sympathy for, my depression and anxiety – which because of all this is through the roof. Only QQ have had any kind of empathy – they were actually lovely to deal with and I didn’t even have to go to the FOS with them – did everything direct.
Good luck with yours.
Raj says
Hi, I’m new to this site. I’m just after some advice about a complaint I made to Ferratum regarding payday loans. Below is a summary of my loans with them:
11/07/2017 Borrowed £100 paid back £134.40
26/09/2017 Borrowed £100 paid back £156
30/07/2018 Borrowed £300 paid back £432.15
28/12/2018 Borrowed £200 paid back £240
06/02/2019 Borrowed £300 paid back £80 so far on a payment plan, still £383.80 outstanding.
I was always late paying back the loans on 4 out of 5 of the loans. I had a number of loans with different lenders.
They haven’t upheld my complaint but as a gesture of good will have offered to write of my current outstanding loan.
Do you think this is a fair offer or should I escalate my complaint to FOS?
Matt says
Hi Raj,
This seems like a very fair offer. You have borrowed £1,000 and to date paid back a total of £1,042.55. Make sure that you request as part of the settlement for any negative information to be deleted from your credit file. I found Ferratum very reasonable, responsive and easy to deal with. Definitely one of the better ones.
Mike_p says
I found them quite good to deal with too. It only took a couple of hours from me accepting their offer to having the loan cleared and the refund on my account. They also apoligised for any inconvenience caused.
Peter says
Hi All,
Had my first success last week, or so I thought. Many many loans with MyKredit over a 3 year period. They rejected my initial complaint so I sent a complaint to the ombudsman who picked it up within a month and an adjudicator gave a decision two weeks ago. They have asked MyKredit to refund all interest from loan 3 onwards, which was around £1000. Great I thought! Anyway, the Ombudsman contacted me this week to say that MyKredit have rejected the adjudicators decision… Not so great!
As this is my first time going through this process, can anyone advise me on what happens next? The Adjudicator has emailed saying they would be in touch, but they didn’t give me any time frame, and I really don’t know what the next step is and how long things will take? Thanks in advance for any feedback.
A says
I have received my final response today off SNC. They said my affordability complaint was partially valid and they have offered to write off my existing balance of £518.96 and a one off payment of £1500. I paid just under £5.5k in interest alone. Any help on this please?
Sara (Debt Camel) says
That’s a big difference, isn’t it. I assume there haven’t been any big gaps, periods where you didn’t borrow for months from them? You are likely to get a LOT more by going to the Ombudsman.
You could try to negotiate them up – go back and say you would get a lot more by going to the Ombudsman but in the interest of a speedy settlement you would be prepared to take £2,500 and a write off of your balance? I don’t know if they would accept that.
But if you want as much as you could get, this will have to go to the Ombudsman.
Shahid says
Hi Sara
I have won my case from Amigo but QQ got back to me today stating they have not upheld my claim. Exact same documents were sent to Amigo!
I took QQ loans 3 times and extending them each time to repay. They seemed to have ignored my bank statements and state that the income that I wrote showed ‘enough disposable income’ to cover the loans.
I stated that they should have asked for bank statements and payslips before they paid out the loan, but they disregarded that completely.
One of the loans has been in default for a whole year! Passed onto a debt collector as well.
Could you advise on what I should do? I’m thinking to send to FOS, but what grounds do I have to send it and what should I be looking for?
Sara (Debt Camel) says
Can you say how large each of the QQ loans was? Was each extended once? What were the gaps between repaying one and taking the next loan?
Shahid says
Loan 1 taken in March 2017 of 300.
Loan 2 taken in June 2017 of 700.
Loan 3 taken in July 2017 of 950.
Sara (Debt Camel) says
And the first one was rolled? Definitely worth taking to FOS. It’s not the strongest of cases but it is a reasonable one because of the increasing amount of the loan each time.
Colin Brown says
Okay so today my adjucator informed me QQ had disagreed with their decision so this will be picked up by Ombudsman.
I thought the prawn sandwich brigade were getting together with them to stop this nonsense? The inevitable is just being delayed surely it’s a complete waste of time if an adjudicator spends ages on it only for eventually one of his senior colleagues to say the same. When are they going to warn QQ they’ll be struck off if they keep being bloody awkward.
R says
Colin, I’m really sorry but your ‘prawn sandwich brigade’ comment made me howl! I know this is a serious forum, and I am pleased to be part of it, but Sara should really offer you the ”comment of the year’ award :)
Colin Brown says
Lol cheers Mate! Sara is a legend! I think we should get together and throw her the biggest party money can buy! I’m serious I didn’t know all this existed and because of her people have got back money!
I don’t know what Janet Street Porter is doing on here tho she is one f annoying person 🤣
Adam says
Had complaint against lendingstream first submitted in December 2018, picked up by adudicator who has had given his verdict on 15 loans to be refunded, lending stream had until the 7th August to accept/reject. Heard nothing yesterday (7th) but just received an email from lendingstream confirming my outstanding balance has been paid off, ironically sent a separate email with a feedback survey of how my loan experience was 😂 Just wondering what am I to expect now, if anyone has experience this step of the process
Adun says
Hi,
I am new to this site, please I need advice on Uncle Buck loan. I took out loan of £300 1st March 2016 as I was having difficulty to meet up with my essential bills at time. Also, around that same period, I took out payday loans from 6 other different companies. I was not able to pay ff most of these loans as I was out of work for more than a year.
In Jan 2019, I discovered that Uncle Buck has now sold the loan to another company (TM legal) and this company has now put a CCJ on my credit file. Also, TM legal is now requesting me to pay back £687.55 which includes court fee, etc.
I found out about this site in Feb 2019 and I wrote Uncle Buck on 7th March 2019 using the template I found on this site.
On the 26th March 2019, I received an email back from Uncle Buck stating their final decision not to uphold the complaint.
03/04/2019 – Wrote sent an email to FOS with regarding complaint and provided them with all the requested documents.
17/05/2019 – The FOS adjudicator also said he is not upholding my complaint.
18/05/2019 – I replied back requesting for an ombudsman to review my case.
In the meantime while waiting for my complaint to be review, please advice if I can request for TM legal to remove the CCJ from my account. Thanks
Sara (Debt Camel) says
Was this just a single loan from UB or had you had previous ones from them?
What happened to the other 6 payday loans you took out?
Did you not know the CCJ case was going to court.
There is no reason TM Legal will remove the CCJ unless you win the case. But you could argue they should not try to enforce it (bailiffs, attachment of earnings) until you have the Ombudsman’s decision.
KK says
Good morning. I am hoping you can give me some advice.
I had my complaint with sunny upheld from loans 4-9. The adjudicator wrote to them and asked them to refund all interest (with added statutory 8%) and for them to completely remove them from my credit file.
Sunny have responded and have offered to redress loans 6-9.
The difference between this in payments back is around £200.00 and there is no adverse data relating to loans 4-6.
Do you think that I should just accept the offer or decline and go for the full amount?
Jonny says
I’m Currently dealing with sunny and they’re making life as hard as they possibly can for my self (and a few others from what I see on here) if you don’t need the £200 desperately then I’d get out now otherwise you’ll be waiting a couple of months (at best I guess) for an ombudsman. If it was me I’d accept but everyone’s situations are different I guess
Mart W says
Lending Stream update – paid out on Day 20 following acceptance of refund. Was out of business hours though so obviously not scheduled and therefore could have been processed at any time so just being awkward. I only have Wonga outstanding now and as we know not gonna get much from that which is a bit of a shame as in my case they were by far the most guilty and seems a bit unfortunate that all my other lenders have essentially had to pay out as a result of the sheer number of Wonga loans running through my history and yet they for away with it. At least I have the dubious pleasure of sharing in their demise though eh?? Thanks Sara for this superb website, only wish I’d have found you sooner!!!
Emily says
Hi,
I put a complaint in against satsuma where the adjudicator wished to upheld loans 4-7. They had til the 25th July to respond but didn’t. My adjudicator gave them another deadline which is today. However I received this email yesterday,
“Thank you for your email. The deadline would be the end of Friday.
In addition to this I would like to mention that the business has confirmed they have a back log and may not be able to reply in time. With this in mind I have also prioritised the complaint and will email you tomorrow by 4pm with an update as to what the next steps would be”
What does this mean when saying he has prioritised the complaint?
Thanks x
Sara (Debt Camel) says
I don’t know. Are FOS fed up with Satsuma/Provident’s delays? Or is your adjudicator just saying he has put it on his To DO list to check again tomorrow? No idea, sorry.
Kyle says
Does anyone know how often QQ agree with adjucdicator on refund lately?
QQ have till the 23rd to respond, so I am wondering what that chance is that it will be going to ombudsman :(
Sara (Debt Camel) says
All of a suden QQ seem to be going to accept a lot of adjudicator decisons they have previoiusly rejected.
I HOPE this means they will now be accepting more new adjduicator decisions such as yours!
Joseph says
Hi Adun, I had a similar case to yours. 4 loans with UB, 2 close together then a gap then another 2 loans. Adjudicator did not uphold the complaint, took it to an ombudsman as nothing to loose (I understood there was a gap between loans) but ombudsman upheld loans 3 & 4 for a refund (as it was evident from credit file). Good luck!
ME says
Hi Joseph,
Can I ask how long your gap was between loan 2 and 3 with Uncle Buck? I ask as the Adjudicator has not upheld my complaint and made reference to the gap between loan 3 and 4 in my Lending with Mr Lender. Also, we’re yours large loans. I am currently considering escalating to an Ombudsman.
Thanks in advance
ME
Joseph says
Loan 3: I could see that Mr J took out Loan 3 over 14 months after Loan 2 was repaid. I thought it was reasonable for UBF to have seen this gap as an indication that Mr J’s finances had moved on from whatever situation had required both his previous loan and his loan repayment to be made by a family member. I’d thought the gap was sufficient for UBF to look at Mr J’s application afresh and effectively treat him as a new customer.
Loan 3 was for £100 to be repaid by four monthly payments of up to £40.13. I’d noted that Mr J’s declared income had reduced to £1,875 and his declared expenditure had reduced to £810. Mr J had declared his payday loan repayments to be £200, with no expenditure on store or credit cards and £610 spent on normal living costs. So his declared disposable income appeared to have reduced to £1,065. But I could see that UBF was aware that Mr J had other active credit. UBF had provided us with a copy of its credit searches before Loan 3. I’d noted from these that Mr J appeared to have loan repayments of around £415 to repay around the same time as his Loan 3 repayments, which was more than the amount he’d declared for his payday loan repayments.
Joseph says
I’d again thought UBF might have been 4 concerned about Mr J omitting most of his credit commitments in his declaration to it of his outgoings. So in view of the total amount of Mr J’s credit commitments shown in UBF’s credit checks, I thought UBF should have again been on notice that it was unlikely Mr J’s financial situation was as good as he was declaring. So I thought it needed to do more here. I thought UBF should have additionally asked Mr J some very specific questions about what its credit checks showed before Loan 3. I couldn’t see that it did this.
***
This was the ombudsman’s response to Loan 3!
***
Hopefully Sara lets me put this, as it might help you and a lot more other people who are trying to argue a ‘gap’ – GOOD LUCK!!
Stewart sadler says
Hey all,
Got an outcome today, after only having it assigned on monday. I had 10 loans with casheuronet, loan 9 was in 3 parts tho so its listes as a,b, and c. Anyway its been ruled in my favour for loans 3-7, and 9b,c and 10. So 8 out of the 12 in my favour!
Obviously made up, as i didnt think id get anything in my favour. Now its just a case of waiting to see what they say, an seeing if i get anything back. Im optimistic i will as the loans that were in my favour total over 2k so i should get somethin, fingers crossed!
Jacky says
Hi, I’m beginning the process of making against both QuickQuid and Lending Stream. I have obtained past bank statements and am just starting to go through them to get my facts in order. I have noticed that Lending Stream seen to have taken some monthly payments in small chunks , sometimes 4 per month. Can anyone suggest why that would be ?
Many Thanks
Colin Brown says
QQ update 9/8/19 12.20 p.m
I have just been talking to a senior person in the FOS, my personal case was rejected yesterday by QQ after the Adjudicator advised them to pay out so it is waiting to be picked up by an ombudsman, he told me it would be around xmas time.
I asked him if it was true a letter had been sent to QQ the other day telling them they must follow the adjudicators advice and he said that is simply not true, he said they would not be able to do this as any business has the right to challenge the adjudicator hence why it then goes to the ombudsman for a final decision, he also said they would not have given that kind of information to you and me.
He did say they are trying to educate businesses better so it doesn’t come down to all this nonsence, he also said if an ombudsman upholds the adjudicators decision then this is legally biding, I asked him what happens if they tell the business they need to pay and the business does not give the money in the timeframe given and he said you would have to take court action yourself against them, therefore they do not actually go after them themselves for the money they can only tell them to pay.
He gave me some interesting information, he also said they have a massive backlog which we already knew and they are working through the cases as quickly as they can. I like to check up every so often on my case but now i have a dedicated adjudicator as a point of contact I am not going to pester him every day.
Sara (Debt Camel) says
“I asked him if it was true a letter had been sent to QQ the other day telling them they must follow the adjudicators advice” That sounds highly unlikely to me.
I think what the FCA and FOS will be saying is that the FCA’s DISP rules say that a lender must “ensure that lessons learned as a result of determinations by the Ombudsman are effectively applied in future complaint handling”. So if an adjudicator decision is in line with previous FOS decisions, a lender should not be rejecting it unless there is something unusual about that particular case. So QQ cannot operate a blanket refusal to refund all loans over 6 years old, or all loans after 2015, as it is well aware of the previous FOS decisions on such cases. And where QQ has been doing this, it needs to reconsider these rejections.
“I asked him what happens if they tell the business they need to pay and the business does not give the money in the timeframe given and he said you would have to take court action yourself against them, “ That is correct. There is a special court procedure to do this, you would not be suing QQ and having a case heard on why, you would just be asking the court to approve you sending round the bailiffs to enforce the FOS decision. See https://debtcamel.co.uk/enforce-financial-ombudsman-decision/. NB in 4 years of seeing these complaints no-one has ever had to do this. If you get a final decision from an ombudsman you are going to get paid unless the lender enters some form of insolvency.
Jo says
I just wanted to say thanks to this website for all the help on here, here is my update.
I sent two complaints to the Ombudsman in December, one for Sunny, the other was Lending Stream. I heard back about both on 19 July 2019. One response was to tell me Sunny had made an offer of £439 based on the fact they were willing to pay interest from 12 months onwards. I rejected this as it just appeared to be there standard response and there was no reasoning to why after 12 months they should feel they then owed me interest when it was clear before this I was in a mess. This is now back FOS who have told me they are requesting further information from Sunny and will be in touch.
FOS wrote to Lending Stream as they felt my loans from 6 to 19 shouldn’t have been loaned, which I agree with. They gave Lending Stream until 2 August to get back to them. I hadn’t heard so sent them an email earlier today and they replied in 10 minutes to say Lending Stream had agreed and offered a refund of £1612. I have agreed and also sent them my bank details as I have read on here that no sending them can cause delays later.
I shall not expect a quick answer with the Sunny case but am in no rush. All moving forward well :-)
Reen says
Hi Jacky I had that once when I stopped making payments to them, I think they are just testing the waters so to speak. I had already stopped my CPA once they tried it and then they tried to take all outstanding balances but the bank intervened, cheeky of them! The first time it happened I couldn’t stop it so the payment stood but they sent me a letter saying it was a technical glitch when I complained, be careful.
Ali says
A little update
Sunny replied to my adjudicator (2 weeks after the deadline) saying they didn’t agree with adjudicator for loans 4-31 but they agreed 11-31 should have not been lent, I have replied saying I don’t accept this, they haven’t given an actual reason why 11 onwards (first 11 all within 4 months) and the rest month 5-14 so not there normal only after 12 months of lending reply. I have asked for it to be sent to an ombudsman.
Satsuma cheque was received on exactly day 28 just in case anyone was wondering as well! This was day 28 from when I replied to adjudicator accepting the offer :-)
Peter says
Sunny progress
Sara/Anyone
Finally Sunny have responded to FA and partially agreed to pay interest and the 8% per year on loans 8-14 (adjudicator recommended 6-14). I am happy with the offer as I just want it behind me now. I have told the FA I am happy with the offer.
My question is what is the next step? Do I need to get in touch with Sunny with my bank details or do they get in touch with me? How long does it take Sunny to ask for my bank details?
Zoe says
They contacted me by email the day after accepting.
If you’ve not received this check your junk mail some people have mentioned finding it there.
Be prepared to wait the full 28 days for payment. Chasing them, putting trust pilot reviews on will get you no further in “jumping the queue”. They are working to strict date order and have a huge backlog so I’m afraid it’s just a waiting game.