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?
Andy says
I have only just found out about this, so I hope it is still an active scheme.
Several years ago my partner and I got trapped in a cycle of payday loans and “robbing Peter to pay Paul”, so to speak. As a result, I still have significant debts to my name and my credit rating was shot to ribbons, although is slowly recovering now.
The remaining balances on a lot of these that are listed on my credit report are now also considerably higher than the initial loan amount (more than double in some cases), and a couple of the debts were also claimed as CCJs (which I have only just found out about).
Are the CCJs likely to make this any more complicated? Also, I’m not sure that all of the lenders we used are showing on my credit report, but it could be that some of them have been amalgamated under debt collection agencies (such as Lowell, which I’ve noticed has a large outstanding balance).
One final question, Lowell in particular has started sending letters saying I owe them a large sum (£10,000+) but on my credit report it shows my account with them as being around £1500. I’m not sure what to make of this, and I haven’t yet responded to them, but clearly I don’t want that to go any further.
Sara (Debt Camel) says
This isn’t a time limited scheme, it is general consumer right, it’s just not well known.
You can make a complaint if all your loans were repaid or if the last loan with a lender wasn’t repaid, was sold to a debt collector and had a CCJ added. It is easier to win complaints the more loans you had from that particular lender.
Your complaints are to the original lender. If you win the complaint – and you have to expect that many cases will take many months and have to go to the Financial Ombudsman as it sounds like many of your loans were over 6 years old – it is up to the original lender to resolve your debt with the debt collector and arrange for any CCJ to be set aside.
So it is very important who the payday lenders were that you used. In some cases you won’t be able to make complaints as the lenders no longer exist. If you owe a large amount of money still, you need to make a realistic assessment of this.
Sara (Debt Camel) says
re Lowell, I suggest you ask them for an explanation of that number, say you have no knowledge of debts of that level. This is not a time you want to try to ignore debts if you are trying to work out who to make affordability complaints to. It is possible that if some of the debts are old then they may be statute barred if you haven’t made any payments for over 6 years and you don’t have to pay them, but just asking what the debts are wil not change this.
Andy says
Many thanks for the advice. I really appreciate you taking the time to respond so quickly.
Polly says
Just wanted to post a huge thank you to all for the advice and help offered on here.
Yesterday I received an offer from Sunny one day before the 8 week deadline. I could probably get a better offer via FOS but on balance the refund will get me out of the payday loan trap, leave me debt free and end the stress of the last 3 years. A fair and unexpected result.
Just wondered does anyone know how long it takes Sunny to process refund?
Pedro says
Hi Sara, I just wanted to ask your advice on my situation at the moment.
I have two outstanding payday loans, one for £500 and one for £400. First payment is due against both next week. I cannot afford to pay either in full. I would be able to offer a token payment of around £50 per month against each of them. I have been borrowing from both companies consistently for about 4 years now. Last week I sent off a complaint regarding Irresponsible lending, and have had a response from both saying that they will investigate and come back to me within 8 weeks.
My question is, Should i call them and set up a repayment plan with them, or should I call and say I am refusing to make any more payments until my complaint is investigated and I receive a final answer? If I set up a repayment plan, could this in any way jeopardise my complaint? I would think I have had around 20-30 loans with each over a 4 year period and paid thousands in interest. I think I would have a strong case for redress if this went to the FOS.
Appreciate any comments you can make and thanks in advance!
Sara (Debt Camel) says
It doesn’t hurt your complaint to make an offer. But after so many loans it’s understandable if you just want to stop on the grounds they probably owe you money!
I suggest you tell your bank to cancel the CPA to both lenders (who are they?).
And these sound like strong claims so don’t accept a low offer, if your not sure ask here.
Pedro says
Hi Sara
The loans are with Mr Lender and THL direct. After what I have read on here I am pretty confident of winning a claim!
Just to keep them off my back I will probably set up a payment plan of what I can afford each month and then go from there. I wasn’t sure if it would affect any future claim if I agreed to a repayment plan.
Thanks for the info as ever. Love this website!
L Coop says
Hi Sara,
Wondering if you could give me some advice.
I made a complaint re lending with QuickQuid which as with many others they declined so I went to the Ombudsman. My adjudicator sent me his assessment, which although fair I didn’t wholly agree with. He upheld some but not all loans, yet the loans discounted all were lent while loans were taken out with other lenders in the same months, before QQ (I have always found them most expensive so have been last resorts). I asked him to reconsider, to which I got radio silence.
2 months later I have now had a final settlement email from him, saying QQ have accepted his assessment and have made me an offer. Where does this leave me? I do not disagree with what QQ has offered, I’d like the adjudicator to reconsider some of the other loans. If I decline the offer and it goes to the Ombudsman how likely is it to change anything?
Thanks for your help.
Sara (Debt Camel) says
I suggest you go back and ask if the adjudicator reconsidered as you had asked him to on dd/yy.
Have you added up the interest on these other loans?
L Coop says
Thank you. Yes, and it works out that they’ve offered me 50% of what I could get if the other loans were to be considered.
L Coop says
I emailed and just had the following reply:
Thank you for your email.
I can confirm that I received your email on 16 August 2019, and apologise for the delay in getting back to you regarding the concerns you raised. However, after reconsidering your complaint based on the additional information, I am unable to change my decision. This is because I believe I have identified the point in which we would expect the business to have stopped lending to you in each separate lending chain. Based on the level of checks we would expect the business to complete prior to lending to you and the information we would have expected the business to have seen regarding your financial circumstances, my decision remains the same.
It should be noted that we would not expect the business to complete a full check of your circumstances and verify the information at the start of each new chain, and this would be expected later on in the lending relationship.
Does this sound reasonable to you?
Sara (Debt Camel) says
How long were the breaks?
L Coop says
The first 6 loans (one after the other) were discounted.
Then there was a break of 8 months – last loan Feb and first loan of next period in Sept – next 5 loans discounted (Sept, Oct, Dec, Jan, Feb)
Then last loan was Jul and next one May the following year – none after that counted.
Thank you!
James says
Hello – I am currently in process with Sunny and Lending Stream – who I have over 24 loans with during a 2 year period.
Both Sunny and LS have provided SAR information. LS have stated that they do not consider my loans to be unaffordable and that adequate affordability checks were carried out on me. I have rolled over 24 loans with LS and 30 loans with Sunny since 2016!
Shall I go straight to FOS?
Sara (Debt Camel) says
If that is the final response from LS then yes, send it straight to FOS.
James says
Thank you – my first loan with Lending Stream was in 2016, last loan was settled September 2018. When attaching bank statements to send to FOS, should I include 3 months of bank statements from 2016 and three months of bank statements from 2018 showing last loan settled, or do they want to see my entire bank statements for the 2 year period?
Any help is massively appreciated.
Sara (Debt Camel) says
Whole 2 year period is best!
Sarah H says
Hi Sarah the Ombudsman has now informed cash euronet that I accept the offer. The Ombudsman have asked them to contact me to arrange a refund. If they haven’t in four weeks then I have to get back in touch with the adjudicator. What is the usual time scale for them getting in touch? Thanks Sarah
Sara (Debt Camel) says
Much chat about QQ timescales for refunds over on https://debtcamel.co.uk/quickquid-payday-loan-refunds/
Dawn j says
I have sent the email off to lending stream. I mentioned I have mental health issues. They want a doctors letter and an expenses statement. Help!!
Sara (Debt Camel) says
Do you owe a balance at the moment?
Are you on any medication for mental health problems?
Will your bank statements show how unaffordable the current loan is?
ANITA says
HI I borrowed £1000 from Satsuma Loans on August 4th. On August 27th they offered me a early settlement quote of £1222. I thought this was very high interest and queried this but they said the interest is automatically calculated. I managed to pay off £275 of the £1000 loan .I am on a DMP with Stepchange as my debts have become unmanagable due to mental/personal issues. All creditors apart form Satsuma loans have frozen interest. I sent them a letter telling them my situation but they phoned back saying they cannot freeze interest as its pre loaded. They gave me another early settlement quote of £1020 which is valid until 17th October. As i paid off £275, this means the interest charged would be £295 in total if i pay it off by 17th October. Does anyone think its worth mentioning to FOS? Another creditor Lending Stream have frozen interest. thanks for any help/advice
Joseph says
Tell them to put you on a payment plan and only accept a manageable amount you can pay each month. If they refuse, I would cancel the CPA (Continuous payment authority) with your bank. And yes put in a complaint against them!
Sara (Debt Camel) says
Loan interest for DMPs is always front loaded. LS may say they have frozen interest but what they mean is they aren’t adding any more, not hat they have taken interest off.
Yiu need to be arguing that the loans they gave you was unaffordable – if you win this, the interest will be removed from the outstanding balance. This is much easier than trying to argue their calculations were wrong (that’s unlikely) or that the interest should be deleted because you have entered a DMP (ditto).
Can I ask a bit about your DMP? How large are the debts in it? How much are you paying a month? Are you making any other affordability complaints eg to LS? Are you buying or renting?
Dale says
Day 14/28 with lending stream for me. Still no refund. Did however receive an email from the complaints team yesterday confirming my acceptance of their offer, which I thought may have prompted payment as a few others on here have reported this to be the case. Is anyone else on my kind of timeframe but have received theirs?
Laura says
Hi Dale, I’ve just got my LS refund this minute. I accepted the Ombudsman’s decision on 10 September and got a confirmation email from Lending Stream on 19 September. Hope this helps and good luck!
Dale says
I accepted 11th September got my acceptance email 24th. Did you get any further communication or just checked your bank by chance?
Laura says
I got an email from them today saying they’d paid my refund, checked my bank account and it was in there.
Chris says
Hi Everyone,
Just wondering if anyone has an email address for MYJAR for sending bank details, ombudsman have made a decision in my favour which I have accepted and sent the form back to the ombudsman. They said MYJAR would contact me asking for my bank details, but I have heard nothing in the past week and a half.
I have the normal customer service email address, but just wondered if there was a more direct one specific to paying out on ombudsman findings.
Thanks
Chris
Mike_p says
I used FOS@myjar.com They replied quite quickly but rather confusingly their replies from that address use “Financial Ombudsman Service” as the sender name.
Dale says
complaints@myjar.com
Quote your complaint ref no. And FOS ref no.
Evy says
Hi Sara
I received an email from the adjudicator regarding my claim against QQ in May. I emailed the adjudicator for an update and got a reply saying that I had an open end credit with QQ therefore they are waiting to decide on how to proceed with no time scale. Can you explain what this means as I don’t have a clue? Thanks
Paul Wakeman says
Are Lending Stream taking the p**s or what? I won a case against them via the FOS and the Adjudicator confirmed my acceptance of their redress with them on 05 Sep 19 (currently on Day 21 of 28 and still awaiting payment).. Have checked my email this morning and I have 2 x NOSIA Documents informing me that I still owe them money! Going to ring them later and ask why I’ve been sent these and also advise them they only have a week left to pay the redress but has anyone got any advice as to what else I could/should say to them. Thanks.
Sara (Debt Camel) says
It’s annoying but many lenders have deeply embedded systems sending out these notices in their systems so they are churned out automatically and can’t b stopped if yiu owe a balance.
C says
AWAITING SUNNY REDRESS
I am currently waiting for my redress from elevate credit (sunny) I have been emailing them every day for the last week, they are not responding.
So today I have left them a review on Trustpilot…. how have people found this method in pushing them along? Success?
Steven says
Hi Sara
I am just starting to get replies to my complaints I had 19 loans with Ferratum my interest and fees totalled over £1100 they have rejected my claim and offers an initial £250 and now £400 gesture of goodwill. I had a friend who had all his payday loans rejected but then overturned what would your advice be? Also if they FOS overturned my case what kind of refund could I be looking at.
Thanks Steve
steven says
below is a list of my loans I am thinking I will go to the FOS as I think it’s a low offer.
Loans 1 -10 are Micro loans the 11th was a 3 month instalment loan. 12 another micro, 13 a 3 month instalment, 14 a micro then 15 instalment again and final 2 both micro loans.
Loan 1 – 14/09/2017 £150 paid back 22/09/2017 – Interest £9.60
Loan 2 – 23/09/2017 £200 paid back 23/10/2017 – Interest £48.00
Loan 3 – 29/10/2017 £150 paid back 30/11/2017 – Interest £38.40
Loan 4 – 30/11/2017 £120 paid back 05/01/2018 – Interest £34.56 – Late Fee £15.00
Loan 5- 07/01/2018 £140 paid back 31/01/2018 – Interest £26.88
Loan 6 – 02/02/2018 £300 paid back 24/02/2018 – Interest £52.80
Loan 7 – 28/02/2018 £200 paid back 13/03/2018 – Interest £38.40
Loan 8 – 13/03/2018 £300 paid back 29/03/2018 – Interest £38.40
Loan 9 – 03/04/2018 £250 paid back 24/04/2018 – Interest £42.00
Loan 10 – 24/04/2018 £300 paid back 25/05/2018 – Interest £74.40
Loan 11 02/06/2018 £300 3 month instalment loan paid back on in full on 22/08/2018 – Interest £119.31
Loan 12 23/08/2018 £300 paid back 25/09/2018 – Interest £79.20 and Late Fee £15.00
Loan 13 27/09/2018 £300 3 month instalment loan paid back on in full on 27/11/2018 – Interest £119.40
Loan 14 18/12/2018 £200 paid back 23/01/2019 – Interest £56.00
Loan 15 25/01/2019 £300 3 month instalment loan paid back on in full on 25/04/2019 – Interest £162.88
Loan 16 07/05/2019 £100 paid back 23/05/2019 – Interest £12.80
Loan 17 07/06/2019 £300 paid back 01/07/2019 – Interest £48.11
JA says
It’s quite clear you were borrowing from month to month and the FOS will see this. They’d usually say from like loan 4 the company should of noticed a pattern in borrowing and done more when you were applying for loans. I’d take it to the FOS personally.
Sara (Debt Camel) says
I suggest you go back to ferratum and say you will accept refund on loans 6-15 and loan 17, saying that is what you think FOS will give you.
Steve says
Hi Sara
I received another reply from them this morning stating they still don’t believe it was irresponsible lending but have offered £500 as gesture of goodwill I still think this is low roughly what to do think would be an acceptable offer the interest on those loans is around £900?
Thanks Steve
Sara (Debt Camel) says
That is a very personal decision. what do you feel would be fair? How much are you prepared to give up to get certainty & some cash now?
Paula says
A little bit annoyed as I just called to speak to my adjudicator for my Uncle Buck case to be told she no longer works there. Tried to get put through but ended up through to 3 wrong departments and gave up. All my complaints have been in since the beginning of July and not getting anywhere fast. Sigh.
Holly says
On the 15th day of 28 awaiting LS money..
Paul says
I waited 21 days I think for mine.
Dale says
Holly you seem to be on the same timeline as me. I’m on day 15 also. Still no sign of mine. Have you had a confirmation of acceptance email I received one 2 days ago.
Holly says
Hey dale , yes I’ve had a few emails saying they’ve accepted it with confirmation of bank details I called them Tuesday and laid in to them and they said it will be in within a few days but I don’t believe them that’s also very vague :(
Paul Wakeman says
Day 22 for me. Rang them last night and they just said that it’s being processed and I’ll have it by 03 Oct if not earlier.
Holly says
So on the 28th day ..
A.M.T says
Lending stream are nothing but a nightmare. I’ve refused to accept Brexit is the reason that my refund is going so slow yet their adamant it is.
Joseph says
Report them to FCA – Really easy to do!
Sara (Debt Camel) says
ask them to send you an email saying that…
Isabella says
Hi Sara. I don’t suppose you would have any idea at all on the estimated pence per the pound refund we can expect from wonga?
Sara (Debt Camel) says
No, there are still some crucial bits of information not finalised. How many complaints they will get and what the asset sales will be.
Roly says
Just wanted to drop a quick line to say thanks so much! My partner and I are still a long way from the end of our process, but we have just had our first successful Ombudsman decision agreed by of all people Lending Stream. This means that along with the offers received from lenders beofre needing to take them to FOS, we have now already got back almost £6,000 thanks to the help and advice we have got from this site (accepted a lower offer from payday express that didn’t include historicals as we felt it was good enough; goodwill offers from sunny and ferratum). We still have Wonga (obviously waiting for the administrators to decide) and satsuma, provident, everyday, 118118, quickquid and amigo are with FOS now. Thanks again, for making everything so clear and for the support and advice when needed! This site is a real treasure and will mean that we can be debt free, hopefully very soon, and be able to turn our lives around completely.
Holly says
Oh my goodness I have been sent a 50 page report from wonga ! Has anyone else had this?
G says
ME!! still doesn’t really tell you anything substantial about redress claims and how much we will recieve
Holly says
Nothing straight to the point at all my eyes were bleeding reading it
Sara (Debt Camel) says
Over on https://debtcamel.co.uk/wonga-has-stopped-issuing-loans/ is the best page for discussion about this.
it was a 6 month report administrators have to make in a set format. As claims are still being sent in and assets are being sold, it isn’t surprising they key figure – what % you will get paid – isn’t yet known.
Gill says
Wanted to share my good news about Amigo to inspire others. Before I read Sara’s comments on FOS upholding so many guarantor loans wouldn’t have thought to complain because the application process had seemed so thorough. When I got my SAR from them I realised that I had told them my partner was paying a lot of the bills with no evidence provided that he could. At that point I had several PDLs on my credit record that I didn’t declare because I wanted their loan desperately. But my credit record showed them. Got a final response almost 8 weeks to the day. I only complained about my top up second loan but they refunded interest from both. £5,400! They confirmed amount a few days later, processed payment the following day and was in my account that afternoon. Really quite painless and what a difference it has made. Have had to go to FOS with every other loan and have had some disappointments with smaller number of loans not being upheld so this is amazing. Thanks so much to Sara. Have emailed my local CAB asking how to make a contribution. Now waiting for the QQ payment 😬
Sara (Debt Camel) says
well done & thanks for planning a small donation to your CAB!
Holly says
Could be anytime today you never know , let me know how it goes if you call them , and I’ll let you know if I hear anything
JA says
I’m on my 16th day today with lending stream and only just received an email stating they acknowledge my acceptance and the funds will be initiated
DD says
Keep us up to date Holly and JA! Mines is day 21 waiting for payout from Lending Stream. :/ Not holding my breath. Acknowledgement took over 2 weeks for me too. Hoping they dont start making excuses once the deadline nears.
Holly says
Will do thank you good luck 😁
Holly says
Hi JA yes I’ve had two of them now 🙄 dale and I are also on day 16
JA says
I just called and they said it will defo be with me by the 10th but maybe earlier.. Just a waiting game.
Linds says
Just an update on SafetyNet Credit.
Complained 6 weeks ago, got final response today.
Outstanding balance £1’173.00.
They have agreed to wipe the balance and account is now closed.
I’m happy with result as it’s a debt I no longer have.
Good luck all 😀
Simon says
They did the same with me. By far the easiest and most friendly company i’ve dealt with.
Shay says
How long do we give the PDL companies to correct the credit reports? Is it from thee date of payout x 8 weeks?
Col says
Hi All, today I signed my acceptance letter from the Ombudsman who upheld his adjucator’s findings, Shit Quid now have 28 days to pay up.
The timeline is as follows:-
Oct-18
Complained to QQ
Nov-18 sent to FOS
July-19 FOS advised QQ to pay
July-19 QQ disagreed
July-19 in queue for senior Ombudsman
26/9- received letter upholding complaint
So it will end up being 1 year from start to end.
Keep going, these were all loans from 2009/10.
Jo says
Hi Col,
Congratulations!!you must be over the moon!my timeline is exactly the same as yours-QQ rejected the adjudicator findings 22nd July so I’m in the queue for the ombudsman, crossing my fingers I won’t be waiting too much longer!
Jo
Jackie says
Great news, I too was awarded a refund by the FOS, quick quid made me an offer (almost £6000) wich I (very quickly) accepted. I was told it would take “up to 28 days for the redress to be paid” today is day 30 and I am still waiting. I’ve sent emails every day and called them a number of times but still nothing. The whole process from it going to the FOS has taken 18 months but will be worth it when I eventually get the funds. I’ve also been successful in claiming the tax back that they deduct from the 8% interest on other loans. So far over £500 and I will claim the quick quid one too. This web site has been a godsend with all my claims. Hang on in there, the wait will be worth it 👍
Emma says
Hi All,
I had a very pleasing final response letter from SNC, three weeks after my initial complaint, offering to write off my balance and have offered £1000 as a good will gesture, pretty impressed with their speediness and offer actually. I was wondering how long it takes them to pay out? I accepted their offer this afternoon.
Thanks again Sara for this website, life changing!
Emma
Raj says
Hi Emma,
I accepted their offer on a Monday and they paid out the same Friday so 4 days for me.
Emma says
Thank you Raj!
Raj says
Hi,
Just want to share some success with 247. I originally posted on here a few weeks ago. I raised a complaint to 247 and within the 8 weeks they came back to me partially upholding my complaint. They upheld loans 16-23 (wouldn’t consider loans 1-15 as they were over 6 years old).
I went back to them to negotiate to see if they would consider 1-15 otherwise I would escalate to FOS.
After a few weeks of emails back n forth they offered to refund 4-9 and 14-23. So their original offer was around £1100 and the new offer was £3600 inc 8% interest.
I could’ve declined and gone to FOS for another £1000 but I decided to accept this as it would’ve dragged on till well into next year and with this money I can now pay off other debts.
So I would definitely advise to negotiate if you can.
Sara (Debt Camel) says
well done & thanks for letting us know.
Andy says
Thanks for the info how long did they actually take to get back to you ? I think I’m on week 5 and had 34 loans over a 3 year period so hopefully they will come to me with an offer too , congrats on your result .
Raj says
They made their first offer around 7 weeks after I made my initial complaint. Then took a few weeks after that to settle on a final amount.
Andy says
Thankyou and congrats 👍
Sam says
From when they confirmed the amount, how long for payout?
Claire says
Hi
I currently owe £488 to safety net credit I emailed them to complain and they have got back to me today saying they have removed all the interest on the account and will take default off my credit report but saying I still owe £311? And can go in a payment plan? Is this normal a thought they wipe all the debt away if u still owe? Shall i just go to ombudsmen? Thanks
Sara (Debt Camel) says
How long have you had this account and do you know how much interest you have paid over that Time?
Claire says
Hi Sara
I’m actally not sure but this the response
In circumstances where the Financial Ombudsman Service finds in favour of the complainant they normally propose that a full redress of interest plus an 8% statutory interest repayment is made to the customer, with the principal outstanding balance being deducted from this amount.
Therefore we propose that we redress all the interest that you have paid (£77.04), plus statutory 8% interest (£2.85). In line with HMRC guidelines we will deduct 20% (£0.57) 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 (£102.01) and then deduct the interest you have paid plus the statutory 8% interest from your principal outstanding balance (£386.66).
This will leave a principal outstanding balance of £307.34 which remains payable. This is the amount of money you have borrowed with all the interest removed. Any adverse markers relating to your SafetyNet Credit account at this time will be removed from your credit file.
Scott says
Hi Claire,
Without knowing how long you have used SNC for and how much interest you have paid overall, it is hard to say if this is a good offer or not.
If this was your first time using them, then the offer is the best outcome for you.
In all complaints the original amount borrowed still needs to be repaid and it doesn’t get written off.
Scott
Sara (Debt Camel) says
Unless you think SNC have got some of the figures wrong, then they have offered you what the ombudsman would think is a full refund and it’s not worth taking further.
The Ombudsman does expect you to repay what you borrowed, just not any interest so the lender doesn’t make any money from having given you an unaffordable loan.
Chris says
I made a complaint against Satsuma over a year ago for 5 loans and have since had a provisional decision from an Ombudsman as it had to be escalated as Satsuma didn’t agree with the original decision. The ombudsman has agreed to uphold my complaint for loans 3-5. However, after I originally raised this complaint I’ve had two more loans, one of which is paid and the other isn’t. Would I have to notify the FOS of this or open a new complaint process etc?
Thanks,
Sara (Debt Camel) says
New complaint.
Chris says
Correct me if im wrong but I thought I could only raise one complaint against the business?
Sara (Debt Camel) says
You can raise as many as you want provided they are all substantively different. You can’t keep putting in a new complaint about the same thing if the previous one was rejected. If you have several issues at the same time, it’s often better to put them all in one complaint and make it clear there are several different parts to it.
Adam says
Whats the waiting time on accepting adjudicator decision to payout, dealing withsunny
Sara (Debt Camel) says
Have Sunny accepted the decision?
Adam says
Sunny have accepted the decision
Sara (Debt Camel) says
Good! They normally take the 28 days allowed to pay out. If they miss that deadline, leave them a bad review on Trust Pilot.
Dale says
Day 17/28 with lending stream. Still nothing. Hoping I have something by end of next week. I’m going to call them everyday commencing from monday.
Holly says
I’m the same dale good luck although I agree with the below comment the only thing that will do is just wind you up but I know how frustrating it is
Joseph says
Try and be patient guys, they drag it out but you will have the last laugh !!
Deb says
Hi sarah
I asked you a few days ago about how to proceed with Lending Stream as they’d replied within 4 weeks to say they didn’t lend irresponsibly. You said to email back with my credit report and bank statements. I just wanted to ask do I send all 33 pages of my credit report and how many months worth of bank statements should I send.
Thanks for any help
Sara (Debt Camel) says
yes send the whole report. I would send bank statements for Jan-Jun in the year took the three loans.
Deb says
Thank you for your help
Deb says
Good news for me after just 4 weeks Mr Lender have offered me a redress of £1355.74 which I have decided to accept, this is taken from the loans 5-10 and to be honest if they had gone from loans 3 or 4 it would have only been about £300 more so I’m going to take the money and run.
Thank you Sarah for all your help now just QQ and Lending Stream to deal with.
Sara (Debt Camel) says
Good result & great to get it sorted quickly.
Deb says
Thank you and they’ve also said they will remove anything adverse from credit file and payment should be with me within 3-5 days and definitely by the end of the week :)
NA says
Nice work Deb! Can i ask, was that 4 weeks through FOS or on the back of the complaint directly to them?
Deb says
That was 4 weeks direct to the company , I’d taken loan after loan without a break for 3 years. I followed Sarah advice complained, wrote a bad review on trust pilot ( which got reported and removed) and replied back to their template email they send to people. They then emailed back saying they had 8 weeks to reply but it is usually done in 4 weeks AND they have.
So pleased as I can now clear my debts with this and have some left over of a treat :)
Andy says
Nice result 👍
Jon Doe says
Good news!! Just got email from QQ advising payment will be processed within hour. Non spreadsheeter, accepted on 3/9/19. updated bank details on that day, was confirmed on 6/9/19 by QQ. looks like more refunds today!!
Lianne says
Hey,
You must be one of the lucky ones im on day 24 of 28. I get no luck from calling and no response to emails.
Fingers crossed they Payout within next 4 days.
Thanks
Steve says
Hi Sara
I turned down Ferratum’s final gesture of goodwill offer of £500 and have just successfully submitted my case to the FOS.
Thanks Steve
Sara (Debt Camel) says
best of luck!
Steve says
For Moneybox today was day 40 from my complaint and still no final response how many days grace do people think before I forward it to the FOS as no response?
Thanks Steve
E says
Hi Steve
You should give them the full 8 weeks they are entitled to.
Steve says
It is the full 8 weeks today it’s working day 40, sorry I work in PPI so just always just do things in working days as been doing my job for years.
E says
Then I’d get it sent straight to FOS :-)
Dale says
Day 19/28 with lending stream is now coming to an end. Still no refund.
Mike_p says
They are one of the worst lenders to deal with and always make things as difficult as they can. Mine was on day 21, other peoples seem to have been mainly in the 20s.
JA says
I’m also on day 19. Hoping we all get it soon
James says
Be thankful it’s not provident!
James
Sara (Debt Camel) says
actually provident do pay out when a refund is agreed!
Jess says
Has anyone had any luck getting so much as an acknowledgement from Satsuma (provident) I sent my case to FOS weeks ago, and I am yet to get an acknowledgement from either……initially complained to Satsuma in June and sent my complaint to FOS about 5 weeks ago….is this standard?
John says
Hello guys,
I had a reply from the audjicator saying that quick quid have agreed to pay me full amount and interest for the loans that audujicator thought they should pay.
I wrote to you on 19 September 2019 – advising that I didn’t think loans 4 to 12c should’ve been agreed. The business has made an offer.
The breakdown of the offer is as follows:
Remove the negative credit file entries associated with loans 4 to 12c
Refund of all interest and charges paid, on loans 4 to 12c equating to £1566.99
Add 8% simple interest: £463.34
Minus 20% tax withheld: £92.67
Total refund: £1937.66
Taking everything into consideration, the offer is in line with my recommendation, so I think this is a fair offer.
For anyone that gets a email from quick quid saying that they dont think they are liable …dont give up!!
On another point does anyone know rough time from getting this email to when I should get the money?
Many thanks
John
Ciaran walsh says
For info to all who have an open loan with those you have complained against, you have a right to request the current loan(s) to be frozen until they resolve your complaint. This will not only save you from further interest but also instills urgency as they will not want your account to not be making them profit for long!
Both Sunny & UB have been compliant with this whilst the investigate my complaints.
Steve says
Hi Sara
My last loan in a myjar is still open and also a loan from likely loans I can afford to make the repayments, should I ask them to freeze the loans while my complaints are being investigated or continue to make the repayments?
Thanks Steve
JA says
If you can afford the payments I would carry on like usual for the moment. If you can’t ask , them to set up a repayment plan which usually causes them to freeze the interest providing you’re in financial difficulty
Mike_p says
You could do both. When I complained MyJar automatically froze the interest and set up a payment plan that wasn’t due any payments for three months, but I could log in and make payments any time.
John says
Hi There,
I had 4 loans with Sunny and one finished yesterday. When I checked my bank account yesterday I noticed Sunny had taken 7 payments from my account 4 for the scheduled payments (one of them was a final payment so I know have 3 open loans) and 3 for the still outstanding loans totalling £111.75.
I went onto Sunny’s website last night and there was a message saying for me to contact my bank I was planning on doing first thing this morning but when I logged on the message on Sunny’s website has now gone. I cannot remember what it said to do.
The payments are still in my pending transactions so hopefully Halifax can stop them – I might pop into branch when they open.
My further question is are Sunny in any kind of breach for doing this? If so, what action can/should I take.
Any suggestions would be much appreciated.
Thanks
John.
Sara (Debt Camel) says
It sounds as though there has been some systems error. I suggest you phone Sunny and ask what is happening and if they can stop these debits to your account.
If they can’t, then they need to refund you the money asap AND also conver any extra costs you get as a result of their error. eg overdraft charges or charges for rejected Direct Debits.
BUT ALSO think about whether the loans from sunny are really affordable. An unaffordable loan is one that leaves you too short of money when you pay it so you have to borrow again. If you have borrowed a lot from Sunny, I suggest you send them an affordability complaint now, in addition to complaining that they have taken too much much money from your account.
Dale says
Has anyone actually managed to obtain a tax certificate from quickquid to claim back the tax on the 8% interest? They are telling me they can’t provide one.
Sara (Debt Camel) says
Has the taxman asked for a certificate? you normally don’t need one.
Joseph says
I just called up HMRC to claim the tax back and they should see that QQ made the payment (tax), they didn’t need any proof from me. I would wait a few weeks to make sure it’s been received by MHRC
Peter says
Hi Sara,
Just some advice please. I had many payday loans with a certain company over the period 2015 to 2018. I think I must have paid a total of around £3500.00 in interest. I complained to them in April regarding irresponsible lending and they came back and offered me £500.00 redress to close the complaint. I declined and went to the FOS. I have been assigned an adjudicator and the case is currently being investigated.
However, I am in a position at the moment where I really need to secure some funds, urgently. I was contemplating approaching the payday lender and suggesting a settlement figure to close the complaint. I will probably suggest half the interest paid so roughly £1750.00. I didn’t do this in April as I was not desperate for any money at that point.
My question is, am I allowed to contact the payday lender and do this, at this point in time, when they have already made one offer which I declined and then went to the FOS with the case being investigated? Will it affect my case with the FOS if I approach them and they decline?
I just wanted to get some advice before I decide my next steps.
Thanks so much in advance.
Sara (Debt Camel) says
who is the lender?
Peter says
Hi Sara,
Lender is Ferratum, I have heard they are usually quite reasonable. I am just concerned about messing up the FOS case if I send them a counter offer at this late stage.
Thanks
Sara (Debt Camel) says
FOS doesn’t like lenders making settlements not going through FOS. Ferratum are quite small – I have no idea how they would react.
If you paid 3500 in interest, then a likely sort of refund, including the 8% statutory interest, would be £3000-£3500, May be more, may be less, it depends on the facts of your case.
I have had a look at recent Ferratum ombudsman decisons and most them seem to be for very small numbers of loans. This suggests to me that if the adjuicator upholds your case, ferratum may well agree to pay out. If the adjudicator is already looking at this, this could be very soon.
I suggest you speak to your adjudicator and say why you are suddenly so desperate and ask how long it is likely to be.
Peter says
Thanks Sara,
So if I approached Ferratum today and made a suggestion on a payout figure, and they declined, then it would not affect my FOS case in the long run?
I have spoken to the adjudicator last week and he said that he was still awaiting the file from Ferratum. He was going to chase them up. Its been with the Adjudicator for 6 weeks already and it doesnt really feel like we are getting anywhere fast. I understand these things take time of course.
I wouldnt normally even contemplate this but something urgent has come up and I do need to get hold of some short term cash (obviously not touching a payday loan!)
Thanks again for your kind help.
Steve says
Hi Peter
I just sent my case off to the FOS yesterday I had a 17 loan with Ferratum I paid around £1200 in interest and they offered £500 gesture of goodwill hope you get an uphold how many loans did you have?
Steve
Laura says
So now all my payday loan complaints are sorted one way or another, I thought I’d summarise them here. I sent all my complaints off on 1 May 2018.
For me, SafetyNetCredit and Sunny were by far the best to deal with, although I know not everyone has found this!
MyJar – Complaint rejected by MyJar – didn’t sent to FOS as was a relatively small loan
Payday Express – Complaint rejected by FOS
Avant Credit – Complaint rejected by FOS
SafetyNetCredit – Offer accepted £612 plus £170 balance waived – didn’t need to send to FOS
Sunny – Offer accepted: £1264.11 (£943.37 and interest of £320.74) – didn’t need to send to FOS
Payday UK – Offer accepted 60.45 after going to FOS
QuickQuid – Offer accepted: 320.86 after going to FOS
Lending Stream – eventual offer accepted of £600 plus balance of approx £1, 000 waived after lots of delays and final Ombudsman decision
Wonga – Waiting for administrators and hoping my balance gets wiped!
A good result all round I think. Good luck to everyone still going through the process.
Sara (Debt Camel) says
a good collection. Are you making any payments to Wonga?
Laura says
I’m not, my loan was with Moorcroft and Wonga took it back after they went into administration.
Sara (Debt Camel) says
good!
terry says
I had an offer from SafetyNetCredit last week which I have rejected. They offered me £3400 where I estimate I’ve spent around £6800 on interest.
In their offer they stated that my limit increased in April 2018 to £1000 and wasn’t affordable. However, it actually increased to £1000 in April 2017. I have gone back to them to reject the offer and to see if they would recalculate, but I am expecting to have to go to the FOS. I have already won cases against LS, Sunny and SwiftSterling, so I felt that I have a strong case here, and their offer was no where near the figure I would settle at.
That said, SNC have been very good at communicating throughout the process and I had this offer in week 4 of 8. It is a shame it was too low.
Sara (Debt Camel) says
Definitely worth going back as they made a clear factual error with that date.
terry says
I did, and they said that it was their final answer. So I’ve gone to the FOS. Luckily I’ve had a few successful claims so I’m in a more financially comfortable position and I can afford to pursue this longer.
Dale says
Day 20/28 with lending stream. Still nothing. They are the worst company to deal with.
Joseph says
Email consumer.queries@fca.org.uk and explain to them how you feel, put the subject of the email as: Gain Credit (Your Reference: 689378): Trading as Lending Stream. They won’t look into individual cases but if enough of us complain they might taken actions! I emailed last week and had a response the next day
JA says
Nothing here aswell Dale – Defo worth sending an email to the FCA. I did it last week , The more of us that do it the more likely they will get investigated.
James says
Why would you send them letters when they’re still within the time scale?
James
Sara (Debt Camel) says
I agree with James – wait until the 28 days have passed before emailing the FCA.
JA says
Several reasons from my experience.
-Took over 8 weeks to reply to my original complaint
-Miscalculated by redress
-Said brexit will cause delays
-They RARELY reply to emails.
-Slow at responding to my adjudicator
Mike_p says
The FCA won’t get involved in individual cases, they just take a broad look at how they are handling things. I waited until I’d actually had the refund, and then sent the FCA a detailed report of exactly what happened when and how Lending Stream had delayed and obstructed things. Hopefully if lots of people contact them then they might turn their attention to them, I don’t see how they can get away with just ignoring adjudicators when they try and progress things.
James says
No offence they’re within their 28 days so they haven’t missed anything …
Lending stream came back to my adjudicator within his 2 week timescale, however I disagreed with the findings so at ombudsmen
My other complaint with provident adjudicator made a decision 7 weeks ago provident won’t respond … so I’d just be grateful you’re getting a payout albeit at the end of the 28 days … but atleast their still within the timescale given & willing to pay you what you’re owed!
JA says
I think you’re a little confused James, Perhaps you got lucky with lending stream but my personal experience made me feel obliged to contact the FCA. I didn’t mention the 28 days it takes to pay redress.
Good luck with provident , Hopefully they get back to your adjudicator with positive news.
Jordi says
Hi
Does anyone know who United Kash are? I just had an email from County Collections (never heard of them either) saying I owe £1211.
Haven’t a clue what it’s about and I don’t really want to contact them.
Joseph says
Sara has this thread called a ‘Prove it’ letter – it’s pretty useful as I’ve used it myself. It basically has info on making them prove you owe the money, if they can’t then they can’t chase you for it
Jordi says
Thanks for the info
April says
Hi Jordi,
United Kash started chasing me in 2017 for an outstanding balance from Speedcredit from 2012/13.
They said the original amount was over £4K that I owed, but they’ve reduced this to £800 which was double my original loan.
I refused to pay anything as I thought my Speedcredit loan was all settled and they had disappeared.
CRS then started chasing me on behalf of United Kash in 2018, every couple of months but I haven’t heard from them at all this year. I haven’t paid them a thing.
Also on one my emails from CRS, they mentioned Peachy after United Kash as their clients name. Not sure whether this was a mistake or if they have something to do with them?
Did you have either a SpeedCredit or Peachy loan in the past?
Jordi says
Speed credit sounds familiar. Probably during my gambling days. Thanks for the help.
Sara (Debt Camel) says
https://debtcamel.co.uk/prove-it/
if the debt is yours but you haven’t made a payment in the last 6 years it may be statute barred and unenforceable.
Jordi says
Thanks Sara. I’ll have to do some research and digging through bank statements.
Steve says
Hi Sara
When dealing with safety credit net is there a way to work out how much interest you have paid I have 2 accounts with both roughly around 6 months each with a £750 and £650 limit the other time.
Thanks Steve
Sara (Debt Camel) says
Add up what you borrowed and take off what you have repaid is a rough approach.
Terry Nicholls says
Thank you sara, i did use that contact for the old swift serling malta loans.
Matt says
Hi
Finally Quick Quid have agree with the adjudicator (£1952) after almost 2 years from start to finish.
How long does it take to get paid and does QQ contact me or is it done via the FOS?
Many thanks in advance
Paul Wakeman says
So Day 26/28 with Lending Stream and I received this earlier on this afternoon:
Dear Paul,
This is in reference to the FOS complaint received on your behalf(FOS Ref: **** ; Our Ref: *****).
We would like to inform you that we have carried out the settlement as per the decision provided by the FOS.
We confirm that the refund of £443.84 has been transferred to your bank account ending with “***”. We would request you to please check and let us know if you need any further assistance.
Also, we have raised an amendment request for your credit file. Please be informed that your credit file will be updated accordingly in the next 30-45 days. In order to get the amendment expedite, we request you to contact Experian with the incident number *******
Have checked my account and nothing there so will give them until the morning but has anyone else had anything similar from them? I.e An email but no payment?
JA says
I’ve only read people receiving the email then checking and the funds were there. Did it turn up this morning?
Paul Wakeman says
Nothing there this morning, have rung them and they’ve said it will hopefully be there today! Told them I’d ring them back tomorrow to speak to accounts team if not there to which they replied there would be no need and accounts team don’t take calls anyway!
MelD says
Hi Sara, quick update. Lending stream sent me SAR request, literally all it has is my application form i.e. Address, bank details, employment details etc. And then the loan information form with amount I borrowed and what I paid back. No checks or searches etc. I borrowed £200 and paid back £440 over 6 months. Had other loans bad credit report etc and payday loans from wonga previous. Any advice it’s only one loan is it worth complaining about ? Thanks
Sara (Debt Camel) says
It’s very hard to win a complaint about 1 small instalment loan.
Lstep says
Hi
I had a number of loans through minicredit,defaulted and the debt was sold to opus. I’ve read somewhere that minicredit no longer exist. As oops now has the debt, can I complain directly to them and what are the chances of them taking any action?
Thanks
Sara (Debt Camel) says
How old are these loans? Have you been making any payment to them?
Lstep says
Loans are from 2013 and 2014. No payments made since they were sold but last year I did email them asking for a settlement figure, but they never responded back
S says
Hi Sara,
I’ve been asked by the Ombudsman to assist with the investigation; if I could forward my income and expenditure for back in 2012.
I’ve not replied as yet but should I try and obtain bank statements from around that period, or should I send a guesstimate or should I just simply reply I’m sorry I don’t have the information (with it being 7 years ago!)?
Thanks for your help. S
Sara (Debt Camel) says
You got bank statements for 2009/10 before for a different claim. Did you not get later ones at that point?
S says
Hi Sara,
No I just requested bank statements for the period they wanted covering. If I had requested statements to cover the entire period I had PDLs another forest would have disappeared! Lol! By the sound of things I think you’re suggesting I’m going to have to go through the same process again? Thanks S
Sara (Debt Camel) says
Yes!
ClaireR says
I have now accepted the revised offer from Sunny/Elevate after they
made such a hash of their previously revised calculations.
Now waiting on QQ to respond to adjudicator findings on that complaint
and have Avant and Bamboo complaints still waiting for Ombudsman
decision (Since February 2019) these were both previously rejected by
adjudicator, but wanted Ombudsman to check it out.
There is light at the end of the tunnel.
Thank you to Sara and everyone in this community.
It really is nice to know that there are others in same
situation.
ClaireR says
Well I am very surprised, but delighted to see that my Sunny Refund was paid into my account the
same day I accepted their offer. (2nd October)
I think this was due to them making such a hash of their calculations and me reporting them to the FCA.
2 down, 3 to go.
Elizabeth says
Hi – I’m currently considering going down this route to reclaim for a number of loans I’ve had over the last few years.
How successful am I likely to be if the loans are within the last 12 months?
Thanks
Sara (Debt Camel) says
Which lender(s)?
How many loans from each lender? were they large? And big gaps when you didn’t have a loan from that lender?
Elizabeth says
Hi,
It’s multiple lenders (8) but aside from one (sunny) all loans have been one loan per lender.
The gaps are relatively short (a month or two at best) and the amounts across the lenders is in the region of £10k
Elizabeth says
Sorry lenders are:
Ferratum
Avant
Safety net credit
Quick quick
Sunny x 3
Pounds to pocket
Emma says
Hi Elizabeth.
Safety Net Credit are very reasonable and great to deal with. They came back with an offer after 3 weeks, and kept me updated that whole time. Quick Quid are bad at communicating, not even an acknowledgement email, and no word from them, they now only have a week to reply . I don’t have loans with the others but it looks like lots of people here have had good results.
Good luck,
Emma x
Rm says
Hi does anyone have any advice on whether I can complain regarding MyJar when I still currently have a loan with them and am paying off monthly?
I had a loan of £500 last year over 12 months which I paid off and they said I could reborrow 3 months ago and lent me £1000 which I’m paying but now am in financial hardship and really can’t afford it and believe they didn’t perform correct affordability checks on me or my credit score.
Do I have a leg to stand on? How would it affect current payments?
Hazza the jazza says
Hi rm, I’ve got an outstanding loan with Myjar and have put in a complaint. You just need to e-mail them at their complaints address, with all your details of your situation, they have opened my case now.
Rm says
Ah okay. Thanks for your reply. I was worried it would affect me in some way if I complained while I had a outstanding loan. So just email them with all details and just continue payments until it is investigated?
Ben says
First of all, thank you for this website. I had a history of borrowing that was a seemingly never-ending cycle of borrowing to repay other lenders. I got into a repayment plan nearly 2 years ago and I’m getting close to getting clear of debt, and this website has been very useful in helping deal with some issues.
I got an email today from the FOS about my complaint against On Stride / Cash Euro Net. I got the usual email at the start of the process, explaining that it had been assigned to an adjudicator. Then 4 days later I had another email explaining that they had all the information they needed to start looking into the complaint.
That was about a month ago, so I sent an email to the FOS asking for an update. This is the response I got;
“Because you have a loan with Onstride, I’m unable to look into your complaint for the moment. We’re currently in the process of determining what approach we ought to take with Onstride loans which were lent prior to October 2018.
Once we’re able to look into this matter, we’ll be in touch with you.”
I assume this is related to On Stride being taken over by Cash Euro Net at that time?
I thought this might be of some interest to others with similar complaints. I had 2 loans. One in Aug 2015 for £2400 and the other in Sep 2016 for £1300. These were in the midst of me borrowing quite heavily on a regular basis from various other lenders.
Sara (Debt Camel) says
On Stride always was a Cash Euronet brand. I suggest you go back and ask FOS what the problem is.
Ben says
Thank you. I did exactly that and just got this reply;
“The question surrounding Onstride loans issued prior to October 2018 is whether the complaint should be set up against CashEuroNet or EuroNetCash which are two separate legal entities.
As of October 2018, Onstride loans fell under CashEuroNet. Prior to this merger, Onstride fell under EuroNetCash.
Once we’re able to determine our approach to this matter, we’ll be in touch with you about your complaint.”
Sara (Debt Camel) says
oh, that isn’t one I have seen referred to before.
Dale says
Day 21/28 with lending stream and guess what… still nothing.
Sara (Debt Camel) says
they have 28 days to pay you. I am not sure what the point of getting so wound up about this is?
Paul Wakeman says
So Day 28/28 and despite getting an email on Day 26 to say the refund had been processed nothing was received on that date or Day 27. Spoke to Lending Stream this morning who advised it would be in my bank by 10pm this evening at the latest. Had a another email about 20mins ago repeating the fact that my payment had been processed and this time the money is actually in my bank!! Thought that would be the end of it but no. Just had an email from CRS on behalf of their client, Lending Stream, offering me a significant reduction on my outstanding balance! Have made CRS aware who then replied that Lending Stream never replied to them after I contacted them at the end of August so it seems that Lending Stream just don’t like communicating! Still, at least that one has come to an end. Only Provident, 247 MoneyBox, Safety Net Credit, Amigo, Loans At Home and various Credit Cards/Catalogues to go!!
JA says
Any one else had dealings with moneyboat?
My adjudicator upheld both my loans with them but they have declined and asked for an ombudsman to look at it. My adjudicator mentioned that it may be there policy to just decline the views of an adjudicator even in such a clear case that they irresponsibly lent.
Another one for the ombudsman Queue
PF says
Hi JA, I’ve very recently been through the process with Moneyboat and although there were a couple of holdups from their side (they said annual leave and illness affecting their complaints department) they were quite easy to deal with after the FOS adjudicator got involved. I only had 3 loans with them and the last one was upheld. Moneyboat paid out within 3 days of getting the adjudicator assessment. Hope you get a good outcome. PF
JA says
Thanks for your reply,
My adjudicator has mentioned they didn’t give an explanation to why they wanted to go to ombudsman which is odd, Hopefully they rethink my adjudicator views so I can get the case closed.
Kirsty Pote says
Just wondering, FOS found in my favour against lending stream, which Lending Stream agreed, how long does it take to amend you credit file as this was 05 Aug 19, any help would be greatly appreciated
JA says
I think lending stream usually say allow 30-45 days for the credit file to be amended
Kirsty Pote says
Thank you, so its been over this, have contacted them about it with no success
Joseph says
Kirsty, tell your adjudicator. They went over the time limit with me so I told the adjudicator, he told LS they were wrong to do this and made them pay me £100 compensation and to also remove the loans from my credit file immediately, which they did. Good luck !
JA says
Have you tried contacting the credit reference agency direct?
Sara (Debt Camel) says
the CRA will just pass it back to the lender. This isn’t worth bothering with.
Steve says
Hi Sara
I got this offer from Money Box today i was wanting your opinion I think it’s pretty fair but wanted a second opinion in total i had 11 loans with starting on 31/10/2017 with £80.00 then a gap to the chain of 10 starting on 20/06/2018 running continuos until 26/07/2018 they have offered to refund the interest on loans 6-11 offering £303.52 with the 8% to be added on. In total for the 10 loan chain i paid £416.08 they also claim i did not repay loan 11 but i believe i did they are prepared to waive that £172 in total. I don’t think the FOS would give me much more maybe loan 5 and 4.
Thanks
Steve
GM says
personally, it doesnt sound too bad.
Sara (Debt Camel) says
Sounds ok to me to!