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?
Daniel says
I had 44 loans with sunny in 2 years have sent my case over to fos what is my likely result I was getting multiple loans to pay of the other
Sara (Debt Camel) says
It depends a lot how large the loans were and whether there was a big gap in the middle. A typical result would be somewhere between loans 4-44 being refunded and loans 12-44 being refunded.
John says
Dear Sara. I have two questions I’d like answering. I had a complaint for 41 loans with Sunny. Has been at Fos since September last year. June 6th I got an email from an adjudicator saying she had all the information she needed to look at my case. Everytime I ask for an update I get told something different latest is some kind of objection by sunny (no details). Are companies allowed to do this before case has even be looked at they’ve had best part of a year. Second question is satsuma (8 loans) all ruled in my favour June 17th. Satsuma have waited after 4 deadlines to throw an objection in. Why are they allowed this amount of time. Its brutally unfair and so lenient. There surely has to be limits time wise or what’s the point.
Sara (Debt Camel) says
“Are companies allowed to do this before case has even be looked at they’ve had best part of a year” from FOS is point of view, it would rather have the objections before the adjudicator makes a decision than afterwards.
“Why are they allowed this amount of time” because the alternative was putting it in an Ombudsman queue straightaway. It’s better for FOS resources if only those cases were there is an objection actually have to be looked at by an Ombudsman.
John says
Does anyone have the APR from 2007-2015 as I have no paperwork at all I have seen on 1 forum it could have been as high as 6.45% per day
Mp. says
Hi all,
LENDING STREAM imformed me it would take upto 28 days to receive my refund. Has anybody been payed-out earlier? Considering the lending only took 20 minutes, this refund delay is really leaving a bitter taste in my mouth.
katie says
Same here im on day 19
D says
I’m the same as you now Katie.
I’ve got a “payment initiated” email. Pitty that they don’t use the 90second rule for the redress for unaffordable loans
Katie says
Yeah me to got the payment initiated email on the 31st July
Mike_p says
Some people are reporting to have been paid earlier, but it seems to be something like the 20 day point rather than only a few days.
They are one of the worst lenders to deal with and seem to delay things just for the sake of it. Ferratum were quite the opposite – I replied to accept the offer, confirmed bank details and had the refund in my account all in the space of a few hours.
Mp. says
I just don’t see the point of them doing it. Seems a nasty tactic to delay. I can see it just leading to bad reviews.
Mike_p says
Presumably their thinking is that if they make the process as drawn out and tedious as possible, then some people will be put off taking things further or will be more likely to accept a poor offer when it finally comes through.
Personally I think the FOS should charge them for every day they go over the time period they give them.
Iain123 says
Wage Day Advance complaint? 18 days left to confirm.
Don’t forget to check your spam/junk email.
Tony says
Hi, I’ve had a LendingStream complaint upheld by the FOS adjudicator and LS were supposed to respond by the 2nd July. Each week they miss the deadline. They keep telling the adjudicator they need another, this has been happening constantly for the past 6 weeks which is also how much time they’re over by on the original deadline. I’ve left them TrustPilot reviews and phone calls to see if it helps but each week they come back saying they need another week and will respond to the decision not later than the same day following week… then that date comes and I receive the same message again from them via the adjudicator. It’s very frustrating. Is there anything else I can do or ask my adjudicator to do to get them to respond to the adjudicators decision? Any advice would be much appreciated as I’m losing faith they’ll ever respond, thanks.
Sara (Debt Camel) says
You could try this:
Send a complaint to their regulator, the FCA, at consumer.queries@fca.org.uk. Copy this email to stuart@global-analytics.com and chris.deboer@global-analytics.com
_______________________________________________________________________________________
Say you are complaining that Gain Securities (689378) is being obstructive in handling your FOS complaint about irresponsible lending by Lending Stream and that you thought the FCA as their regulator should be aware of this.
Give your name, address and FOS reference number.
Explain that you received an adjudicator decision upholding x out of Y loans. Attach this (you could do this by forwarding the email you had from the adjduicator to the FCA, but make sure you change the subject line if you do this.)
Say LS were supposed to reply by dd/mm/yy. Every week for the last 6 weeks after that date they have asked for a week extension. Say you think they are being deliberately obstructive and delaying complaints.
[If you had more than a dozen loans – add that Lending Stream appears to be ignoring previous FOS decisions about cases with long chains of loans and the FCA’s DISP rules which say they should learn from previous FOS decisions.]
End by saying you understand the FCA will not investigate your complaint but you wanted to report their very poor complaints handling which is not just against the DISP rules but not treating customers fairly.
Tony says
Hi Sara,
Thanks for the advice and amazing website otherwise I’d be lost on what to do. I will do the advised and get that email sent to FCA straight away.
Many thanks!
Emily says
Hi,
I recently accepted a reduced balance at the financial ombudsman service with MyJar. My mum wants to pay this debt off for me so I sent them a full and final settlement offer. They responded and said because I have accepted the reduced balance at the FOS, I won’t be entitled to a settlement offer. Is this right? Even though it was found that the current loan balance I have outstanding should never have been lent to me. Thanks x
Sara (Debt Camel) says
It is up to a lender when they will accept a reduced settlement. There is no legal reason why they couldn’t do this after a FOS decision has reduced the balance, but actually not many lenders accept F&Fs at all – these are usually only negotiated with debt collectors.
Have you agreed an affordable repayment amount with myjar? If you have, then any help from your mum would be better used to clear any other debts you are still paying interest on such as credit cards? because the myjar debt is now an interest-free loan.
Emily says
Hi Sara, thank you for your response. Yes I have agreed an affordable amount via a payment plan. I did speak to Barclaycard a while back to see how much they would be willing to accept as a settlement and they agreed on 50% of the outstanding balance, so I may get back to my mum and pay that off first. Thanks a lot x
Shaun says
Hello all,
I have been unsuccessful with some of the first payday loan claims I submitted. However, it was only after I was successful with a few claims afterwards that I realised I did not submit enough data for the first claims.
My question is – the claims that I was unsuccessful with – can I resubmit new claims or would the FOS decision be final? It has been a few months since I submitted these claims.
Any advice or feedback on this would be greatly appreciated.
Shaun
Sara (Debt Camel) says
It’s unlikely – unless you were unaware of other loans from the same lender? What didn’t you send?
Shaun says
Hi Sara,
Many thanks for your reply. It is greatly appreciated.
The items I did not send are copies of a second bank account statement and a detailed breakdown of money transfers between the accounts – this is where I transferred money to pay other debts out of the second bank account. It was only until my 3rd claim or so that the FOS employee enquired what the transfers were all about and requested a detailed breakdown of them. The FOS employees that dealt with my previous claims did not ask me for any more information on them so I thought at that stage I had submitted enough for them to go on.
Hopefully this makes sense.
Regards,
Shaun
Sara (Debt Camel) says
ah sorry, did you not ask for the case to go to an Ombudsman?
Shaun says
Hi Sara,
All my cases went to the Ombudsman but they did not uphold my first couple of claims. I had sent in my main bank account statements but I did have a second account where I transferred money to pay direct debits mostly but some of my debts were paid out of it. Originally I thought the main account statements were enough and that if the Ombudsman needed more detail they would ask for it but unfortunately for my first few claims the Ombudsman employees did not ask for this detail. However, one Ombudsman – around my 3rd or 4th claim did and it was then that I realised how much of a mistake I made on the first few claims. All my claims subsequently have been successful so I am really kicking myself but wondering if there is a slim chance I could submit new claims for the ones I did not submit enough information for.
Thank you again for your replies Sara – I appreciate it.
Regards,
Shaun
Sara (Debt Camel) says
No sorry you can’t.
ClaireR says
An update on my case against Sunny (Elevate Credit)
They offered me a redress on loans 14-28 a month or so ago.
I asked the adjudicator if they thought this was fair and they said they would look into it.
Had an email a short while ago with their findings and they are asking Sunny to uphold
from loan 2-28. Fingers crossed that Sunny agree to this.
Their is light at the end of this long dark payday borrowing tunnel.
Sunny have until 27th August to respond to adjudicator.
A a Ron says
My adjudicator has given sunny another week to respond after the two weeks he gave them initially. Seems like adjudicator decisions are being delayed by sunny by another week or two just so you have an idea on timescales. Takes them another 28 days to pay the refund after they uphold.
Rachel says
I phoned sunny everyday and asked them what the hold up with answering the adjudicator, left a trust pilot review everyday and emailed them ALOT. Im a bit impatient but I got my refund “fast tracked” to 14 working days from the day you confirm your bank details. So you should phone sunny or live chat and confirm your bank details asap.
Peter says
Rachel
I accepted Sunnys offer on Friday with adjudicator. I am yet to have anyone ask for my bank details though. I have emailed bank details to them at customerrelations@elevatecredit.co.uk everyday since Friday but never get a response, so frustrating.
Peter
Rachel says
Hi peter go on live chat and ask them what date your bank details were confirmed. That way you have it in black and white. They were really helpful with me. The whole process is so frustrating. Happy spending when it comes
Peter says
Rachel
Did you ask them for a fast track payment or did they do it as you was constantly contacting them?
Rachel says
I told them i wasnt happy about the length of time its took took for them to sort my complaint out. October 2018 to july 2019. I told them i want my refund now and was sick waiting and add another complaint about it. And just being a moan really hahha. Can issue a loan in 10 mins but 28 days for refund is b.sh**t
Peter says
You are right 28 days is a joke. Other companies settle in a few days. I will keep complaining each day.
Thanks Rachel
Kyle says
Hello all,
So QQ has till the 22nd to respond to the adjucdicator.
Do they usually respond on time or do they like to drag it out?
Alex says
Hello.
I have today had my first response from FERRATUM out of five complaints for irresponsible lending. Unfortuntely, they have not upheld my complaint.
My claim with FERRATUM was submitted on 04/07/2019 for five loans as follows:
Start Date Settlement Date Amount
16.07.2018 16.07.2018 £150.00
02.11.2018 02.11.2018 £100.00
28.11.2018 28.12.2018 £250.00
12.01.2019 25.01.2019 £200.00
25.01.2019 27.02.2019 £350.00
Their response today reads:
“I have reviewed the loans and cannot agree that Ferratum lent irresponsibly. Interest is the cost of borrowing money and Ferratum have not acted unfairly in charging this. You had the benefit of the loans.
We therefore do not uphold this complaint, however in order to bring this matter to a speedy conclusion and in full and final settlement we would like to offer a refund of £110.00. If you provide bank details and sort code this will sent via faster payment. Please confirm if you wish to accept our offer by emailing …. ”
I have emailed back stating i am not happy with the response, as i also want to have the record of these loans removed from my credit file.
Should i accept this? Or would i be better off submitting a complaint with the Ombudsman?
I also have complaints in with Lending Stream, Safety Net Credit, Sunny, and QuickQuid so shall update with responses.
Thanks,
Sara (Debt Camel) says
Were the first two loans really taken out and repaid on the same day?
Do you know how much interest you paid on loan 5?
Alex says
Hi Sara,
Sorry that my error. No they weren’t. First loan was paid back on 30.07.18 and second loan was paid off on 25.01.19.
Not sure on exact interest as have not been sent this information, even though it was requested at the time of taking out the finance
Sara (Debt Camel) says
OK I suggest you go back to them again and say you won’t be able to decide whether to accept their offer unless they tell you how much interest you paid on each of the loans.
Alex says
Would this be the case even though they have stated they will not uphold my claim? They state they will not uphold my complaint however to bring it to a speedy conclusion and final settlement theyre offering £110? Are they upholding it or not? They dont half make life difficult!!!!
Sara (Debt Camel) says
It doesnt matter if they say they are upholding it or just making a settlement offer, until you know what interest you paid, you canm’t guess what you might get from going to the ombudsman
Brian says
When ferratum replied they offered as a goodwill gesture to refund the interest in one of two loans I replied saying I’d take that plus 50% of the second loan and they agreed. Cant hurt to ask
ClaireR says
Thank you A a Ron.
Oracle 85 says
QQ timeline
Complained – Aug 2018
Adjudicator appointed – July 2019
Original decision- 12th July
Revised decision (including more loans after AQ failed to include majority of my loans in their original assessment) – 22nd July
Adjudicator now saying QQ have raised objections and he might need to reassess my case based on their evidence if they provide it (they rejected his decision). Whole process is taking so long want to get in ombudsmen queue but adjudicator is saying the ombudsman will only ask him to check these issues anyway so he might as well do it now
ste says
Hi Sara
I had been notified by the adjudicator that in regards to Lending Stream, they find in my favour 4-36 loans that should not have been given.
They gave Lending Stream 2 weeks and that was until 8th August. I have not heard anything back at all. What would you advise to do next?
Thanks
Ste
Mike_p says
Lending Stream do everything they possibly can to delay the process – it was about a month before they responded to my adjudicator and other people have reported longer. I tried to chase them but I was ignored or fobbed off.
You could try leaving a bad trust pilot review – don’t expect it to make much of a difference but it will help show others how bad they are.
Katie says
Mine was about 10 weeks over what the adjudicator had given them 16 months in total but now just awaiting refund
Mp. says
Try emailing the Adjudicator for an update. I received a response from LS around three weeks past the suggested two week time frame.
Raj says
Hi guys, I’m after some advice please. I’ve just heard back from 247 regarding my complaint with them. I took out 26 loans with them in total. They have upheld 16-23 but rejected 1-15 as these were from 2012 – 2013 so more than 6 years ago. They rejected 24-26 as there was a 45 month gap between them and the others which I can accept.
My question is can I escalate this to FOS regarding the older loans? Are they likely to look into these? I’ve worked out the total would be over £3k including interest which I could use to pay off other debts. Has anyone had any success with loans older than 6 years?
Raj says
Hi, following on from this I spoke to the ombudsman to see if they consider looking into loans prior to the 6 year time limit and they said that they can depending on circumstances. The adviser did say tell 247 that I accept payment for loans 16-23 but I am going to escalate 1-15 to FOS.
If I did this, would 247 withdraw their offer altogether? I am worried that I will lose out altogether but on the other hand as they already upheld 16-23 then if I had to escalate to FOS they would surely do the same so I wouldn’t miss out?
Any help is appreciated.
Sara (Debt Camel) says
“If I did this, would 247 withdraw their offer altogether? “ I don’t know. It may be they will refuse to let you split the case into two.
If you just accept their offer and then try to send 1-15 to FOS is almost certain that 247 would object. That’s why FOS says you have to tell 247 that you will only accept their offer if you can also send 1-15 to FOS.
If the case goes to FOS, my guess is that they would start from the position that 16-23 will be refunded as that’s what the lender offered and just consider the older loans. In most cases FOS does say the older loans can be considered.
The risk in going to FOS is that it will take some time and I suppose there much be some chance 247 will go bust. But that applies to any complaint, I have no particular reason to think 247 are in financial trouble.
PH says
Just some guidance from my experience with 247…
I had 50 consecutive loans (month after month) and 247 rejected the adjudicators findings of loans 7-50. It got sent to Ombudsman, who found in my favour for loans 1-50. They had to pay redress on all of them.
They’re pretty awful in terms of paying out (took them 3 weeks to confirm they had received my acceptance, but they did pay 10 days after that).
Just a word of caution though – they’re abhorrent in their practices post redress. They have added a default to my last loan (which was cleared as part of the agreement of redress) since they have paid redress. Despite numerous emails and calls to them, it remains on my credit file. Fortunately, because I went through the Ombudsman, I have been able to get them to chase 247 for me in order to get that removed. I have asked that they compensate me for the damage it has done in the short term to my credit file – I’ll keep you up to date with how that goes!!
Raj says
Hi both, thanks for your replies.
PH – were these loans within the 6 year time limit? Just wondering why they rejected them.
How long did it take for adjudicator to accept your complaint from the time you sent it to them?
PH says
Hi Raj,
I think the first few were out of the 6 year guidance, but the majority were within the usual timescales. The adjudicator said that only loans 7-50 should be wiped from my record though, as the others had already fallen off due to the time they are held for.
Keep at 247. They’re an awful company to deal with (I’ve spent literally hours on the phone trying to contact them, only to be told I have to email them), but I got just over £7k from them in the end. That’s certainly changed my outlook for the next few years!
CJK says
Im due a refund from P2P but can’t seem to get clarity on a timescale. Does anyone know how long I should wait before I get in touch with them?
JA says
Hello,
My jar have asked for statements and payslips. Do they really look into these and would they actually help my case?
Regards
D says
They didn’t with me so be prepared to be disappointed. However hopefully it does for you.
I only won against them at FOS
JA says
Hello D,
Thanks for the response , I’ve done abit more reading and it looks like they don’t really take them into consideration.
I will have them prepared with for the FOS.
How many loans did you have? Regards
D says
I had 5 with them.
My redress was only for around 100 quid but still something
Lending stream was my biggy
Paul Wakeman says
So, After sending a complaint to Lending Stream via Debt Hacker I waited the 8 weeks and sent it to the FOS. FOS then got in touch with LS asking for business file and I then had an email from LS saying they had never had original complaint! Sent original complaint and now I have just received an email, final bit says this: “Based on all the loan by loan information provided above, we conclude that proper and proportionate affordability checks were conducted at the time each loan was approved. As you may be aware that you have one or more loans with Lending Stream that are not yet closed. As such, we would like you to please reach out to us if you require any assistance. You may also refer to your online account section for latest status of all your loans with Lending Stream” Doesn’t look like they did proper checks as I had PiggyBank, 247 MoneyBox, Loans At Home, Safety Net Credit and I lowered my monthly expenditure on bills etc. Anyone else had a similar email?
Sara (Debt Camel) says
Send it straight to the ombudsman. LS often rejects very strong cases.
Alison Neary says
Lending stream agreed with the adjudicator yay!!
But are now being a pain with regards to my bank account the adjudicator said call them up to update my bank details, LS website says to call them to update
When I did call I was told they can’t take details over the phone and to reply to an email I was sent in June 2018. When I explained that I wouldn’t be able to find that email due to its age and could he provide me with the correct email he said no, I had to reply to that one???
Any advice?
Matt C says
Out of interest, when was their deadline for replying?
I’m currently waiting to see if they agree with the adjudicators findings, they’ve gone over their 2 weeks that the FOS gave them to respond.
Mike_p says
They do seem to be accepting a lot of adjudicator decisions at the moment, I haven’t seen anyone mention a rejection for a while. They will however delay it as much as they can.
L says
Hi
Need some help!!!
I’ve emailed QQ my bank details, I’ve had no email to acknowledge receipt of my email or any response at all.
When I call to ask to speak to someone I’m told I need to email.
Does anyone have a different email or telephone number I can try.
I’ve used what’s on the site.
Thanks
L
L says
Hi
Just received a reply from support at QQ ha ha ha!!!!! I did make me laugh.
It read – As per your request we have updated your bank details so that all future loans can be funded to this account.
Are you having a laugh QQ!!!
Clearly didn’t read the email at all.
You can imagine my reply!
Anyone else having issues contacting QQ after they have agreed with Ombudsman decision?
Thanks
L
james says
Thats their standard response because they uodate your qq account details and thats where you get paid from whether its a loan or refund.
you will get your money in less than 7 days. qq dont mess about
Jamie says
Good morning all. Asking for some advice.
Last year I was on a DMP with Dot to Dot loans, they agreed with the monthly payments. It’s all paid off. I had no debts with Dot to Dot loans what so ever
They have now approved me for a £500 loan.
Correct me if I’m wrong but why would a lender want to a approve someone that was in a DMP with them? They should of declined me
Does this break the irresponsible Lending policy?
Sara (Debt Camel) says
Well not really – if you have completed your DMP you could now be able to afford a loan. But why did you apply to them?
Paula says
I have now had 4 of my complaints picked up by adjudicators including Uncle Buck. This is probably the smallest complaint I have but they offered me £72 so I decided just to go for it. The loans I took were:
22/06/2015 Instalment Loan £150.00 £150.00 29/09/2015
30/09/2015 Instalment Loan £250.00 £118.63 23/12/2015
27/01/2016 Instalment Loan £550.00 £286.70 29/04/2016
27/05/2016 Instalment Loan £800.00 420.96 26/08/2016
01/10/2016 Instalment Loan £200.00 £96.66 24/12/2016
27/10/2017 Instalment Loan £600.00 £72.00 11/11/2017
10/10/2018 Instalment Loan £200.00 £76.13 06/12/2018
It doesn’t seem a lot but I was already drowning in payday loans which is why I thought I would challenge it. Any thoughts?
Thanks!
Dale says
Hi guys I see a lot of people on here with bad experiences from quickquid. I lodged a complaint 16 weeks ago, finally received a response offering me a full redress of every loan interested. £3,000 including my interest. I accepted immediately it really was a bolt from the blue as I had forwarded onto FOS after 12 weeks. The money landed in my account 1 hour after accepting. Maybe I am one of the lucky ones, but don’t lose hope people. Total I have recouped thus far is 4,150£ with a couple left to go.
Alex says
Hi. Do you mind if I ask how many loans you had with QQ and over what time period? I had 16 loans with QQ over a year period coming to over £5k, so hoping for a good result
Clive Edwards says
Hello,
I have just had an adjudicators decision that 2-5 of my loans with MYJar were irresponsibly lent. Myjar initially turned down the complaint. The deadline date for them to respond is Friday 16th August.
Are Myjar likely to insist it now goes to the Ombudsman? Surely they wouldn`t bother as the Ombudsman almost always agree with the adjudicator don`t they? How long do Myjar normally take to pay out?
Thanks
Clive
Mo says
Hi There,
If someone can help, I have asked Peachy fora refund about irresponsible lending, i had to borrow from payday lenders to pay off my other payday lenders, in the span of 1 year i have borrowed from 6 different lenders and have written to all of them, Peachy has now asked me for my bank statements and payslips during the time i asked them for a loan, do i have to send these?? Can anyone help
Alex says
Update on claim against FERRATUM. After stating they would not uphold claim, they have now agreed to pay compensation of £150 and remove four loans from my credit file. I had a total of 5 losns coming to just under £1000. The four loans they have agreed to remove were taken over two months. Would have liked more than £150 back as I’m sure I paid more than that in interest, however the main thing for me is removal from credit file and saves waiting 6 months for ombudsman! Over all fairy cooperative and replied on week 6.
Sara (Debt Camel) says
====THE MONEY SHOP SCHEME===
===VOTING===
is best discussed over on this other page: https://debtcamel.co.uk/money-shop-to-close-two-million-customers-will-be-informed/
Ryan says
Hi guys.
Recieved an email from adjudicator 06/08 that Lending stream were prepared to offer me substantial redress.
I replied to adjudicator same day accepting but have heard nothing since. Should i contact LS direct? I have emailed the adjudicator for an update a few days ago but heard nothing since Feel in limbo,any feedback appreciated
Thanks
L says
I accepted my offer yesterday with LS and confirmed this and bank details with adjudicator, I also called LS complaints today and confirmed bank details they said the 28 day period starts from today not when accepted.
Ryan says
Thanks for the info.Will call them both tomorrow get the ball rolling.
Elaine Jones says
Has anyone made a complaint in respect of Quidie/Fernova? The 8 weeks is up tomorrow , just phoned them for an update and they said I should get a response by email tomorrow.
David says
I was actually going to do a post about them myself, not seen many others mentioning them.
In my case they acknowledged the complaint and that’s all I heard. Gave them 10 weeks then sent to FOS.
When it was eventually picked up the FOS passed it back to them do deal with. 9 weeks have passed from the date of the ombudsman letter and nothing.
Have emailed to tell them I’ll give them another week then I’m going back to FOS.
Sara will know better than me but what happens when they ignore your complaint and again when asked by the ombudsman?
Elaine Jones says
I just had a phone call from Fernovo asking me to send my original email complaint to them via my personal email. I originally sent email to them via Debthacker but they said they get a lot of fake emails so best to send it from my own email and confirm it is a true complaint . Just done this and wait to hear from them hopefully tomorrow.
Sara (Debt Camel) says
Several lenders are not taking complaints through resolver or debt Hacker as they can’t verify the emails. This is tedious, but the simplest thing is to send the complaints direct.
David says
Has anyone received redress from sunny and had a balance with them?
Reason I ask is my balance was written off yesterday and I thought payment was coming but nothing yet.
Just been on live chat and was informed my redress was still under review with the compliance department.
I was just wondering if anyone had some sort of timescale between their balance being written off and redress payment received.
Thanks
Zoe says
Hello,
Unfortunately not, my account was cleared after about 2 weeks and payment was 3 weeks after that but only because I complained.
Sunny had caused some delays after acceptance so agreed to “fast track” my payment. But I would still expect to wait the full 28 days.
David says
Thanks for that Zoe. When does the 28 days start?
Today is 28 days from accepting Sunny’s decision through adjudicator ( accepted 18th July)
Bank details asked for and given 1st August
Have emailed adjudicator asking when Sunny were informed that I accepted their offer
Zoe says
It’s supposed to be adjudicators acceptance.
They did inform me it may be 30 days because they have a large backlog.
Email this address they will probably take 2 days to reply but they sorted my payment that day. They will speed up genuine complaints just not people being impatient customerrelations@elevatecredit.co.uk
Fingers crossed you’ll get something soon.
David says
Thanks again Zoe.
What did you tell them to show that you weren’t just being impatient?
Zoe says
I had accepted my Sunny offer when my Adjudicator realised she had written a typo and should have said remove 7-11 from my credit file but had just written 7. She needed verbal confirmation that Sunny understood this which took her a further 2.5 weeks to get from them.
So I felt making me then wait another 28 days was really unfair. So after 2 weeks I called and was fobbed off in the phone promised call backs that never happened. Finally someone gave me that email address. So I basically explained that I was frustrated with their customer service department, that they had caused delays and I was being penalised for it. I always try to be polite when complaining but explain what’s not happened how it’s made you feel and what they should do to correct this. If you’ve waited 28 days you absolutely should raise this with them. Say you understand they have a lot of complaints at the moment and a back log but would have expected payment by now. Say you are disappointed no one has contacted to advise there may be a delay or that others have had payments made earlier because they have complained, that you have been penalised for not demanding your payment sooner. Something like that maybe?
David says
Thanks for that Zoe, I have sent something along those lines. Let’s see what happens
Paul Wakeman says
Just received an Adjudicators Response from FOS with regards to my 6 loans with Lending Stream. I received a response from Lending Stream last night about how they felt they had acted responsibly & they copied it to FOS. I understand most of it but could someone tell me please, does Bullet point 2 refer to all 6 loans or just Loans 4 to 6? Anyway these are the points:
* Refund all interest and charges that Mr W paid on Loan 4 from when it was taken out until when it was repaid.
* Pay interest of 8% simple a year on all refunds from the date of payment to the date of settlement.
* Rework the balances outstanding on loans 5 and 6 to remove all interest and charges and leave only the capital amounts borrowed.
* Apply any amounts Mr W has already paid towards loans 5 and 6 to reduce the capital outstanding.
* Apply the full refund (including the 8% interest) from loan 4 to reduce any outstanding capital balances on loans 5 and 6 and pay any amount remaining to Mr W.
* If there’s still outstanding balances, work with Mr W to find a suitable repayment arrangement that accommodates his present financial situation regarding these new balances.
* Remove any negative information about loans 4 & 5 from Mr W’s Credit file.
* Remove the entire entry for loan 6 from Mr W’s Credit file.
Sara (Debt Camel) says
“Pay interest of 8% simple a year on all refunds from the date of payment to the date of settlement.” refers to the refunds that are being paid ie loans 4.
If you have actually already repaid more than you borrowed on loans 5 & ^ you will also get 8% on the interest you have paid on those.
Paul Wakeman says
That’s great Thanks. Thought as much but the wording with “8% Simple” threw me a little.
Marie says
Hi Sara
I made a complaint to Peachy, which they haven’t upheld and wanted to ask some advice before sending it to the ombudsman.
I basically took out a loan with them of £150, then topped it up by another £150 a couple of days later and paid it off early to avoid paying more interest.
I then took out another loan of £300 quickly after and topped this up twice within days, so the balance was £500. I have struggled to put this back, as I have several other loans out at the same time, they’ve now applied all of the interest so that I owe them £989.
In the complaint, they have counted me as just having two loans and have disregarded the top-ups, saying I’d had a good repayment history, had enough income to pay off the repayments and they had no responsibility to check my credit report to see if I had other loans out.
Do you think I have good enough grounds to go to the ombudsman? Or would they probably scoff and see it as a low amount of money and not frequent borrowing?
Thanks
Marie
Sara (Debt Camel) says
The ombudsman is always polite, you will never be scoffed at. I think 2 loans, each topped up, is worth taking a complaint to the ombudsman. you may only get a refund on the last top-up, but that would help a bit, wouldn’t it?
Mike_p says
I can second this. I made a low value complaint that the FOS didn’t uphold ultimately, but they were very professional to deal with.
Marie says
Thanks Mike, was worried that they wouldn’t my complaint seriously. Will def go forward with it
Mike_p says
I was a bit apprehensive about someone going through my bank statements and potentially asking me questions about it, but my experience wasn’t like that at all. I had a phonecall from the adjudicator to explain the process and ask if there was anything about the process I wanted to know more about, and the next thing I heard was an email with the decision.
Marie says
Yes would definitely help a lot!
Thanks Sara, will definitely take complaint forward.
Marie says
Hi Sara
I’ve sent complaints to Uncle Buck and to Satsuma and I’m still waiting to hear back from them.
I just wondered if you think I have good enough grounds to go to the ombudsman if they don’t uphold my complaints?
I had 7 loans out with Uncle Buck, within 14 months. I had 6 loans with Satsuma over 12 months.
With both companies, the loans started off relatively small but escalated, particularly towards the end and I too out £800 with both companies, which I’m struggling to pay back.
I also have other loans out, which should show on my credit profile.
Do you think I have a strong case with both companies?
Thanks
Marie
Mike_p says
I’d say so – I had 6 loans of increasing amounts over 13 months with MyJar and the adjudicator said they should refund four of them.
Uncle Buck can be very unpleasant and threatening in their replies but don’t let that put you off. They told me that my complaint was vexatious and that if I escalated the complaint to the financial obmudsman they would be asking to see my bank statements and want explanations of any discrepanices. I still sent it to the FOS and never heard another word about it.
Marie says
Oh no that’s so unprofessional! I hope your complaint gets upheld by the ombudsman. Did they also try to call you to speak to you about your complaint? I’ve had a voicemail from them to discuss my complaint, but feel reluctant and bit anxious to speak to them. I feel like they’ll just be accusatory over the phone and won’t help my case.
Mike_p says
It didn’t get upheld. It was only for a few loans so I wasn’t expecting much success, but I felt I ought to escalate it due to the threatening tone of their response.
I’ve never spoken to them on the phone but others have reported that they can be unpleasant there too. If you do speak to them then don’t accept anything they offer on the first call – once you’re off the phone compare it to the interset you’ve paid and ask on here if you aren’t sure if it’s a good offer or not.
Marie says
Thanks Mike, will keep you posted
Marie says
Have just received a long and accusatory email from them, saying they are not going to uphold my complaint.
They’re saying the same thing to me, that if I go to the ombudsman, they have the right to ask for my bank statements and go through discrepancies with me and that the whole process will be very long. How can they be allowed to say that in their responses?
Just thought I’d update you! Will be taking to the ombudsman today.
Matt says
Just to say not all is lost with UncleBuck – not a great company to deal with and like most they rejected my initial complaint. I sent it to the FOS at the end of May and this week UB accepted the adjudicators decision that the 4th (being the final loan) should not have been given to me and UB have requested my details to repay the settlement.
Fingers crossed for you!
Mike_p says
That’s their standard scare paragraph that they paste into every response (despite moaning that your complaint appared to be based on a template!). Someone else posted the response they got from Uncle Buck and it was word for word identical to the response Uncle Buck gave me.
The FOS tends to put the onus of responsibility on the lender, so if anything they will question why Uncle Buck didn’t ask to see your bank statements before lending.
There is a website that shows the final decisions made by the FOS ombudsman. The following is taken from DRN8652511, which is a partially upheld complaint against Uncle Buck:
“However, by the time Mr B asked for his fifth loan I think Uncle Buck should have realised that it could nolonger rely on the information he was providing about his financial situation. He continued to declare a healthy disposable income each month, but needed to borrow regularly. So I think that, from this point onwards, Uncle Buck should’ve been independently verifying the true state of Mr B’s finances. There are a number of ways in which it could have done this, such as asking for copies of bills or bank statements, but I can’t see that it did so.”
Marie says
Thanks both, definitely gives me some hope! Will let you know how I get on
Andy says
Has anyone had any success with MyJar, specifically with loans dating back to when they operated as TxtLoan?
Initially complained to MyJar who claimed to have no trace of my TxtLoan information, despite me providing bank statements and emails from them at the time.
Escalated to FOS, and the case was picked up by an adjudicator. Within a week I had an email from the same adjudicator saying MyJar (having now found the loans) were disputing as many were over 6 years old, and he was passing it to another team. That was weeks ago and I haven’t heard anything from FOS since then…
Dale says
Andy- yes I have recently had dealings with myjar about txtloan. If you provide a valid reason as to why you wish them to look into loans of over 6 years old they are obliged to do so. I went down the route of I was only recently made aware of an affordability complaint after finally becoming debt free, I saw a financial advisor who informed me I have an affordability complaint. This seemed to work. They are really not the best to deal with but in my case around the time of the lending was bad debts coupled with a lot of gambling, so they upheld a few loans and I clawed back approx 60% of interest paid. I decided to take it as I have 3 cases with the FOS and with the uncertainty around most lenders these days I’d rather take what’s on offer now than have to wait upto a year with FOS and potentially end up with less if they go bump in the interim. Hope this helps and good luck.
Steph says
Hi,
I received a reply from Mr Lender yesterday after a lot of back and forwarding…
They basically said they did all the appropriate Checks but as a gesture of goodwill would give me a £25 tesco voucher 😐
I was in the middle of a DMP, had defaulted on other payday loans after getting in the cycle of borrowing to pay another so there’s no way on earth they did appropriate checks.
This loan had to be added to the DMP, however when I asked Mr Lender for a copy of the loan and all the interest and fees paid I was horrified to see for a £200 loan taken out in 2012 which was settled in full almost 6 years to the day of deposit in 2018, interest amounting to £588, Admin fees of £17 and late fee of £60. Not including the original loan amount, that equates to £665 almost 333% of the original loan!! Clearly the interest didn’t stop when they came to an agreement with the DMP company!
Is it normal for them to just knock it out when it appears that unfair? I intend to go to the Ombudsman with this but just thought I’d ask here first. I’m waiting on replies from another 3 companies so just preparing myself for the same issue.
Ps I know it’s out side the 6 year time frame but I had never even heard this was a thing until late last year from Martin Lewis and then started doing the ground work for my own complaints this year.
Sara (Debt Camel) says
if you only had one loan for £200, you aren’t likely to win an affordability complaint it but you may have a case that Mr Lender treated you unfairly by not freezing interest once they knew you were in trouble in a DMP.
Steph says
I did ony have one loan with Mr Lender, but also had several with a number of other companies.
I was just shocked to see the £600+ in interest/fees and don’t think it appears fair and a bit excessive.
I’ll look into the Ombudsman approach.
Thanks 🙂
J says
Hi all,
Apologies if this has been asked before but are Wonga still sending out the latest emails?
My friend received one which was partially upheld but I haven’t as yet.
I wasn’t sure if its to be concerned about.
Thanks in advance
Sara (Debt Camel) says
I don’t think you need to worry yet. this other page https://debtcamel.co.uk/wonga-has-stopped-issuing-loans/ is the best place to follow the latest news about Wonga.
Matt C says
Has anyone had Lending Stream come back to the adjudicator to agree with their findings lately? if so, how long did this take?
I’ve not heard anythig just yet but they’ve gone over their 2 week date that the adjudicator set.
thanks all :)
Mike_p says
They agreed with my adjudicator at the beginning of August. They took a month instead of the two weeks the adjudicator gave them and when both I and the adjudicator asked them about progress they completely ignored both of us.
They are an appaling company and delay everything as much as they can, their trust pilot page is full of people with similar stories.
Chris says
They are due to provide a decision today on my complaint, FOS wrote to them on 1 August.
I called LS to see if they had replied and was told they will send their findings to the FOS by close of business today at the latest, fingers crossed 🤞
PF says
Hi Matt,
My 2 weeks set by the adjudicator was the 7th August. I emailed the adjudicator earlier this week to be told LS had requested a further week, which was yesterday but I’ve heard nothing yet. Lots of people on here say LS go over by a minimum of 2 weeks some even say longer. Seems all we can do is wait!
stu says
Hi All,
Does anybody know how long QQ take to pay out after agreeing to their offer through the FOS?
Thanks
Joe says
Hi Stu,
QQ paid out very quickly to me. The payment from QQ came within days, the payment from P2P took over a week. I’d consider that fast in both cases.
Charles says
Hi Joe,
Did you have to call them (QQ in this case) or email them to provide bank details? There are a few of us here who received a final decision from Ombudsman with ‘they’ll be in touch within six weeks’ and I’m just wondering if we need to take action ourselves.
Thanks,
Charles
stu says
Thanks Joe
Was this through the FOS or directly with QQ?
I if I accept the offer through FOS it will take a week before they pick the email up to the correct department.
Ej says
Hi Stu.
How long did it take for you to receive your offer?
FOS told me last week it will be soon.
Thanks
stu says
Hi Ej,
They rejected the first offer on 16 July and have come back today with another offer. I am not sure if I am going to accept the offer or take to Ombudsman. I just know this could take another 4 – 6 months, possibly longer…….
Turtle says
My adventure with Mr Lender is now over. My case was waiting for an ombudsman after they rejected the adjudicators recommendation of refunding loan 2 onward. A couple weeks later they contacted me and after a couple more offers, I accepted. I could have got a bit more refunded but with the number of these companies going under and no time scale from the FOS, I decided to accept.
The initial response from Mr Lender was a rejection and a £50 Tesco voucher. Following this they made offers of £820, £1130, £2800 and finally £3700.
7 more cases with the FOS and 5 successful results now finalised. Thanks for your help Sara. Another step forward in cleaning up my credit record.
Sara (Debt Camel) says
wow, that will pay your Tesco bills for a while!
Joe says
Sorry my response to Stu isn’t in line, the website bugs out when I hit reply.
Louise says
Western Circle (Cashfloat/Quick Loans Express) are a shocking company, so sneaky.
In their final response in 16th July, they denied responsibility but offered to remove interest from my outstanding balance, leaving me £107 to pay. I accepted.
I have been trying for weeks to make a payment but it keeps failing through their systems online and over the phone. I’ve tried on 2 cards, both of which have enough money.
I’ve just received an email to say they’re adding a default to my account and that I have to pay them £479 in the next two weeks otherwise they will take legal action.
I’m literally so shocked that they would do this. I dont know whether it’s some sort of payback for complaining, or just complete incompetence on their behalf
Sara (Debt Camel) says
I suggest you reply to the email saying that you have accepted their offer on 16 July and you have been trying without success to make the payment – give details about when and why this has failed.
Say you want the default removed or you will be sending the complaint to the ombudsman.
Debbie says
Hi can any one advise pls I sent my complaint to FOS for my jar and I received a ref number from FOS and asking to send more details in, my question is does this mean it’s been allocated and being looked at or so I have to wait till it gets assigned to someone else.
Brian says
I also had the same email, they asked me to send over any other info (Id already attached to the complaint) by the 12th August so I assume they gave Myjar the same amount of time (2 weeks). Was sent that email with reference number etc about a week after sending them the complaint. I also wondered about whether this has now been “picked up” by an adjudicator or whether it was basically a confirmation email that gets sent out regardless of whether anyone’s actually going through it yet or not.
I did send another complaint about another company around the same time though and Ive not had the same message from FOS though so maybe good news and they are working through the MyJar complaints at the moment.
Mike_p says
With mine I had an email asking for more details, and later on I had an email from an adjudicator saying they had everything they need to start looking at the complaint.
Brian says
Was it much later?
Mike_p says
It was about two months from the email asking for more information until I got the adjudicator email, and then about 5 weeks until I got the decision email.
Brian says
Well hopefully seeing as I have got the adjudicator email now it shouldn’t be too much of a wait.
Be nice to get these wrapped up and behind me to have a stress free (at least debt wise) Christmas!
Debbie says
Thanks mike i wasn’t sure as people mention an adjudicator and mine didn’t have that on, I’m glad it’s been looked at though so hopefully not to long.
Debbie says
Cheers Brian I got mine on the 08.08 so didn’t know what was happening I also have another 2 complaints in (1 from over 6 years) so that one will take a while but my other lending stream I’ve not heard anything back from.
Brian says
Lending Stream is the one I sent at the same time and have heard nothing back about either.
We’ll get there in the end
Mike_p says
Lending Stream are absolutely horrendous and delay everything as much as they can or dare. Hang in there though as lots of people seem to be getting a refund through in the end. They agreed with my adjudicator decision and I’m now waiting for the payout which apparently they often drag out for the full 28 days.
Brian says
I’m lucky that I got a quick turnaround with an Avant claim a couple of months ago which means I can forget about these and am not relying on the money, but without that refund I’d be absolutely pulling my hair out about the time all this takes!
Chris says
Mike, how long did they take to reply to the adjudicator? Was it within the 14 days or longer?
Mike_p says
It was about 2 weeks after the 2 week date the adjudicator gave them. The adjudicator and I both chased them a couple of times after the 14 day point for an update but they ignored both of us.
Debbie says
We sure will Brian I certainly see the light at the end of the tunnel I made 7 complaints in total 3 are with FOS 3 I won and 1 I just left as they where small amounts, i worry with lending stream cos these are my biggest and just hope they don’t go bust in mean time but what will be will be.
Debbie says
Hiya Brian just thought I’d ask seeing as we sent our complaints around same time with same companys have you heard anything back yet from any company, I haven’t yet but will let you know when I do if you want.
mark roberts says
my friend used a CMC. when I told them they shouldn’t they asked to stop. Sunny has now offered a payout but the CMC is saying the money has to be paid to them not to my friend. my friend is not happy with the CMC can she get the money herself?
Sara (Debt Camel) says
That may depend on the T&Cs she signed and when she asked them to stop and whether she has any other reasons to complain about them.
Holly says
Hi Matt , it has been 8 weeks since I submitted my complaint to FOS and they have two weeks from today to reply . Fos upheld loans 5-11 of mine
Holly says
Do we get refunded on the interest we paid plus 8% for each loan with one company for example lending stream fos have upheld loans 5-11
Sara (Debt Camel) says
The 8% is times the years since the payments were made. So if loan 5 you paid interest of £300 and it was settled in August 2017, that is two years ago so you add 16% to £300.
Holly says
Goodness ok thank you
I have no idea how much interest I paid on any of them I can’t find anything and their website to down load Info is sh*t!
Casey says
Update on my Sunny Case
I submitted to Sunny in April 2018 – they partially upheld on a handful of loans.
I declined and took to FOS
Adjudicator ruled in my favour on loans 5 to 58 in February 2019
Sunny didn’t respond then 2 months post deadline disagreed and offered 37 to 58.
Today I received a letter from the Ombudsman (August 2019) who has ruled on every loan 1 to 58 to be paid as Sunny had already agreed they should not of lent me 1 to 6 in my original complaint and so ombudsman these should still be upheld.
Sunny have been the most difficult and it’s taken time but it’s hopefully all worked out now. Good luck to everyone else and thank goodness for this site- changing peoples lives!!
enzo says
I have recently been attempting to get money back from my payday lenders. I’ve had an upheld decision from quickquid and moneybox 24/7. However cash4unow have rejected my complaint. My moneybox 24/7 loan which was upheld was taken out the same time as the cash4unow loan in 2017. They were both the first time i had borrowed from them. Both didn’t ask for any proof of income and were both for roughly the same amount. Although i only had 1 loan with them any type of bank statement would have shown i couldn’t afford them. moneybox 24/7 not only wiped the interest but the whole loan due to my circumstances. The same circumstances cash4unow are aware of. Is it worth me taking cash4unow to the ombudsman despite it being a single loan or were moneybox 24/7 just very generous in their decision? I don’t really have anything to lose as they offered nothing.
Sara (Debt Camel) says
How large was this loan from cash4unow?
enzo says
Sara, The cash4unow loan was for £450 with £200 in interest and charges. The moneybox 24/7 loan which was taken around a week before the cash4unow loan and was cleared in full not just interest was for £100.
Ann says
I sent my complaints to ombudsman 3 weeks ago I got a confirmation email but when I’ve called them no complaint .They say there is a back log will I need to send them again or is it just waiting game .I do realise they are busy .Thanks in advance
Paula says
I was 4 weeks before any of my complaints got picked up. I don’t think you will need to resend, they just won’t have been assigned a reference yet I would imagine.
Ann says
That great advice thank you for you help
Mike_p says
My complaints all took at least 2 months to be assigned to as adjudicator. It can be frustrating waiting but they should pick them up in the end.
Lee says
Hi I applied to the f o last year in June I did all relevant paperwork and submitted everything required and did a telephone interview detailing problems and financial hardships it’s with sunny and is 33 loans
In July this year I got an email after I chased up my case being 13 months telling me it’s been referrred to another person at the f o as it’s a more complex case I then waited until yesterday and emailed again and I’m told it’s still waiting to be handed to someone to review and May take some months! Is this right I’ve akready been waiting 14 months
I am not sure if I chase this or wait please advise
Alex says
So i have had my response from Quick Quick. I had 16 loans from 15.10.2018 and 19.10.2017 equating to over £5000.
They have come back to day stating they will not uphold my claim. Their response really doesn’t make sense.
They state i didn’t take loans in a close enough proximity. 16 loans over 12 months… I’l let you do the math.
They also state that they further assessed affordability by viewing your account history for hardship and as no loans fell into arrears they cant refund. This is due to me being forced to take out other loans to make payments!!
They have also only noted eight out of the 16 loans in their response, so eight loans missing in total.
I have responded to their email but its looking like its one for the FOS
How quickquid are still running i do not know. Absolute disgrace!
Sara (Debt Camel) says
“They have also only noted eight out of the 16 loans in their response, so eight loans missing in total.” is it possible that you topped up an existing loan? you may think of that as 2 loans but it would have a single loan number in the QQ system and they would refer to it as 1 loan.
Were there any “gaps” – periods of more than a month when you didn’t have an outstanding QQ loan?
Alex says
Hi Sara,
There were some cases where i topped up so this could be the case.
Loans were as follows:
13964002 Base Loan 15/10/2018 £50.00
13738656 Top Up 28/08/2018 £800.00
13693718 Base Loan 17/08/2018 £600.00
13397290 Top Up 08/06/2018 £600.00
13387556 Top Up 06/06/2018 £500.00
13377221 Top Up 02/06/2018 £350.00
13353329 Base Loan 29/05/2018 £150.00
13180111 Top Up 14/04/2018 £500.00
13176855 Top Up 13/04/2018 £425.00
13166986 Top Up 11/04/2018 £350.00
13156970 Base Loan 07/04/2018 £200.00
12624397 Top Up 23/11/2017 £200.00
12616596 Top Up 21/11/2017 £150.00
12610484 Top Up 19/11/2017 £100.00
12609172 Base Loan 18/11/2017 £50.00
12495732 Base Loan 19/10/2017 £100.00
Thanks
Alex
Sara (Debt Camel) says
It’s clear you have been borrowing larger amounts as the year progressed. I can’t tell if there were any gaps where you didn;t have any loans, but I think you should definitely send this case to FOS.
Alex says
Thanks Sara. Will do
Lee says
Hi I logged my complaint with do over sunny and 33 loans in June 2018 did all relevant paperwork and a telephone interview explaining hardships
To my case worker and was told in a few months I should get a decision
In June 2019 I emailed and asked for an update and was told it’s being assigned to a different case worker and May take months
I waited two months emailed again and it’s still waiting for a different case worker
Do I just wait or do I push them as don’t want it to influence any decision but surely 14 months is a long time
Mar says
hi all,
my complaint with uncle buck was upheld by an adjudicator however Uncle buck have disagreed with the Adjudicator and I have been advised today that it will now go to an ombudsmen. Does anyone know how long it will take for the ombudsmen to now make a decision?
Alex7824 says
Unclebuck is redicoulus
JA says
An update from MYJAR.
I had 4 loans with them. Two in 2015 (100 & 150) and two in 2018 (400 & 450)
They originally asked me for statements of my bank etc which I declined , They then sent a response not upholding my complaint.
I then sent them statements and they came back now upholding the two larger loans 400 & 450.
It’s worth sending them statements as it only backs up your case , Not sure why I didn’t do it originally.
Sara (Debt Camel) says
thanks for that information!
D says
Even though I sent my documents they still refused my claim. It really is luck of the draw tbh.
I won my case at FOS eventually but bank statements made no difference to myjar
JA says
Suppose its all the cases are very individual , I was also very surprised at how quickly mine was dealt with.
Sent complaint on the 1st Aug and got the response today.
D says
My complaint went in a few months back so it may make a difference now as I believe the FOS have started to work with the companies telling them to sort it before it gets to them when it is such an open goal case
David Dickson says
Hi Sarah
I have just had a letter from the ombudsman instructing Quick Quid to settle my claim. The adjudicator has advised that they must pay me the total of the interest fees and charges plus 8%.
it is based on the following
Loan Date Taken Date repaid Date Total days Amount Repaid
2 29/06/2011 23/09/2011 16/08/2019 2884 500.00 625.00
3 28/09/2011 25/10/2011 16/08/2019 2852 700.00 831.25
4a 07/12/2012 25/03/2013 16/08/2019 2335 100.00 312.50
4b 15/12/2012 25/03/2013 16/08/2019 2335 75.00 531.25
5 28/03/2013 23/08/2013 16/08/2019 2184 100.00 125.00
5a 14/04/2013 23/08/2013 16/08/2019 2184 75.00 218.75
6 30/08/2013 25/10/2013 16/08/2019 2121 100.00 125.00
6a 31/08/2013 26/10/2013 16/08/2019 2120 100.00 250.00
6b 01/09/2013 26/10/2013 16/08/2019 2120 125.00 318.75
6c 14/09/2013 26/10/2013 16/08/2019 2120 75.00 500.00
6d 15/09/2013 26/10/2013 16/08/2019 2120 75.00 593.00
7 30/10/2013 25/08/2014 16/08/2019 1817 750.00 2370.00
The final loan was an Open Ended Credit with a limit of £750. And was repaid at 237.03 per month over 10 months.
Would the I just total all the difference and add 8% per year to get a rough figure of what I could expect back?
Thanks very much for your website and the great advice it holds.
David
Sara (Debt Camel) says
“Would the I just total all the difference and add 8% per year to get a rough figure of what I could expect back?” yes. to get it a bit more accurate, for loans 1-6, you could work out the 8% separately for each loan using the number of years for each loan. And for loan 7 use the halfway point of the loan to get the number of years for the 8%
But QQ don’t usually get these wrong, so I wouldn’t put a huge amount of effort into the 8% calculation.
David says
Thanks Sara, much appreciated. I’ll let you know how much cash I get offered.
RosieE says
Hi, I’m one of the many people who it seems have just finally had their QuickQuid claim upheld, after it being refused and being with the FOS for 2 years. The FOS letter says QQ have agreed to uphold their decision within 6 weeks, so I was just trying to work out roughly how much the total should be, so that they don’t short change me. The total amount of interest I paid adds up to £3044. What I can’t work out is how to add the interest? Not sure when the “settlement date” is, does that mean each time a loan was repaied, ie a few months after being taken out? Or until now? The loans were from 2010= 2012 mainly. Many thanks
Sara (Debt Camel) says
See David’s comment above.
L says
Hi Sara looking for some advice again.
My complaint against My Jar has not been upheld by the adjudicator he has asked to send any further info. I wondered whether u think.
I had 2 loans with them 1st in may 2016 £1000 over 6 months and in March 2017 £1500 over 12 months.
At the time the first loan was taken out I had 3 defaults on my credit file and had 4 pay day loans/ high interest loans along with a bank loan and secured loan.
By the time the second loan was taken out I had not settled the previous 3 defaults on my file and had a further 4 defaults.
Thanks
Sara (Debt Camel) says
I think that’s worth taking to the ombudsman if your total debts at the time of the second loan were more than at the time of the first loan. So the second loans was larger and your financial position had got noticeably worse.
L says
Thanks that’s what I thought too. I didnt expect to have the first loan upheld but felt I had a good chance with the second.
I’ve emailed him back pointing that out and I’ve reattached my credit report I think if he disagrees again I will ask for the ombudsman to take a look at it.
SS says
Could anyone please advise how I claim back the 20% deduction from my redress? Is there a form or process I need to follow
Thank you in advance
Chris says
Look up form R40 on Google – that will take you to the right place.
J. Richards says
Hi I’ve just sent emails using templates to 14 different lenders. (118 loans(2), Quickquid(3), lending stream(14), satsuma(11), thl(4), cashasap(14), peachy(8), unclebuck(4), piggybank(7), quidie(4), welendus(2), mr lender(5), cash4unow(3) and Ferratum(4)) totalling over 90 loans as I haven’t added Wonga and over £30,000 without interest or charges. Many of them are paid back in full and I currently have 7 loans left with 6 lenders. I just wanted to no what will the lenders I currently have loans with do when they receive the complaints?
Sara (Debt Camel) says
The lenders you still owe money to – unless you can make the repayments in full without having to borrow any more, you need to stop the CPA payments with your bank.
As you owe so many payday lenders – and probably some other lenders as well? – if may be a good idea for you to contact StepChange and get a debt management plan set up to repay the balance. If you win any complaints, that will speed up the repayments, but getting a DMP means you are in a financially secure position and can afford to wait for all the complaints to go through, including going to the ombudsman.
J.Richards says
Will they freeze the interest now I have let them no my situation? If so it may be affordable without turning to a DMP as the amount left is around £2800 without interest.
Sara (Debt Camel) says
A lender will only freeze interest if you show you can’t afford the normal repayments.
You can set up a payment arrangement with each lender, see https://debtcamel.co.uk/arrangement-to-pay/. But this is exactly the same as setting up a DMP – same effect on your credit record. With only a couple of debts a payment arrangement is usually simpler. With 6 lenders (and other credit card or overdraft debt as well possibly?) then most people will find a DMP less stressful than trying to talk to so many lenders.
Holly says
Hi al just wanted some advice lending stream have two weeks to answer the adjudicator if they don’t what action should I take ?? Thanks x
Mikwe_p says
Lending Stream are horrendous and delay everything as much as they can. Going on my experience and other peoples reports it will be at least 4 weeks before you hear from them, quite possibly more. There isn’t much you can doreally except ask your adjudicator how things are going.
Sarah Harrison says
Hi that will work out about right as the adjudicator emailed me 1st August and said that they will give them till 23.8.2019 and if they don’t hear back, they will go with the decision. Do the Ombudsman have the power to ask them to refund or can onstride just ignore them?
Sara (Debt Camel) says
An Ombudsman-level decision is legally binding. You can go to court to send in the bailiffs if they don’t pay…