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?
Paul Wakeman says
Yet more advice needed please! If a Company has gone in to Liquidation and has an LLP appointed is it worth pursuing a claim against the Company. The Company sold their outstanding client accounts to another small firm before going in to Liquidation and I was pursued by that company to pay off my outstanding loan (which has now been done). I had loans with the company that has gone in to Liquidation from 2005-2016 and these were continuously “rolled over”. Any advice would be appreciated. Many Thanks.
Paul Wakeman says
It was a small local lender called Batten Finance and then a few years ago they changed their name to Cash Injectors. During the middle of 2018 they then sold on their outstanding accounts to Valley Finance.
Sara (Debt Camel) says
You asked the Ombudsman about this in August and were told to put in a claim against Valley Finance I think?
Paul Wakeman says
This was the response I had from Valley Finance:
Dear Mr Wakeman,
Could I point out that Valleys Finance Ltd did not acquire the company known as Batten Finance Ltd
but in fact purchased the assets only, namely the outstanding balances as at 15th October 2018.
As such, we do not have any reference or documentation to any loans you had taken out prior to this date
and as you have stated, you have not had any form of borrowing with ourselves directly.
I am able to confirm that at the time of Valleys Finance Ltd acquiring the assets of Batten Finance Ltd, there
was a balance outstanding on your account reference CC1120 of £370, which has subsequently been cleared in full.
Any further information you require in respect of loans taken out with Batten Finance Ltd should be addressed to them
directly – Batten Finance Ltd (trading as Cash Injectors) 56 Notte Street, Plymouth. PL1 2AG
Obviously, in that reply they knew Batten Finance were no longer trading from that address.
Sara (Debt Camel) says
Then it’s probably give up. But if it’s a lot of money, go back to the ombudsman and ask if you have any other options.
Paul Wakeman says
Thanks. I’ll give up with that one. I had on average 2 loans a year for 7 years ranging from £300-£500 but there was never anything on my credit file so will just bite the bullet on that way and concentrate on Provident/Amigo as those are the 2 I really want to be upheld.
Andy says
Is there no way you can get out of going through a claim with a law firm {name edited] my case is going to Fos can I not just do it on my own ?
Sara (Debt Camel) says
It’s not easy if you are out of the cooling off period. That claims firm isn’t FCA registered and it’s much harder to make a complaint against them as you have to go to the Solicitors Regulation Authority.
You are probably stuck with paying their high fees for just sending off a couple of simple emails I am afraid.
Andy says
Ahhh :( yeah 24% for something I can do myself , thanks again for you help
Terry Nicholls says
Day 32 and no refund from lending stream
Karen says
Hi all i just thought i would tell you all
I got a letter from money shop they are paying all back untill April next year under a Scheme of Arrangement as it’s been to court to pay all back who had loans
The letter was for INVATION TO CLAIM SCHEME OF ARRANGEMANT IN RELATON TO INSTANT CASH LOANS LIMITED
I dont no if anyone else as had a letter for the Scheme of Arrangement but I did
Thank you
Sara (Debt Camel) says
thanks, these emails have just started going out to money shop, payday UK and Payday Express customers. More info on Money Shop Latest news page which is the best place for further comments about this.
Joanne says
Hi
I just wanted to see what people’s experiences of MyJar (aka txtloan) were?adjudicator has just found in my favour, hoping it’s not going to be another one for the ombudsman Queue!!
Beth McLeish says
How long has your claim been with the adjudicator please? Mine was assigned on 20th September? TIA
Mike_p says
They agreed with the adjudicator in my case and I had the refund in my account two days after emailing the bank details form to the adjudicator.
Beth McLeish says
Hi Mike
How long was it until MyJar responded to the adjudicators findings? I have also had a response in my favour.
Turtle says
I’m in the same boat. Adjudicator made a recommendation for myjar to put things right re my case but they haven’t replied to the FOS in the 2 week period. They will now get a little extra time to reply once the FOS have chased them.
Just a note on myjar, watch these pests because they’ve marked my credit record as 6 months late even though it’s myjars policy to stop taking repayments whilst a case is with the FOS. Also policy not to report adverse information during this period but they have done so anyway. It’s killing my credit record currently.
Debbie says
Hi I sent MyJar complaint to fos on 15.08.19 it was upheld on 03.10.19 MyJar agreed On the 11.10.19 and I was paid on the 18.10.19 hope this helps.
Joanne says
Thanks for your reply!!can I just ask were your loans over 6 years old?all of mine are so I think they will reject because of that!!
Debbie says
Hi Joanne no sorry they wasn’t. Best of luck to you though.
Jane says
I put in a claim for myjar via a claims company in August 2018, never heard anything and now the claims company doesn’t exist!!
I got an email from myjar out of the blue about a month ago to say that they have now upheld my claim on time barred loans (they were all over 6 years old)
I was emailed a form for my bank details and I received payment within 10 days and because the company that put in the claim originally wasn’t registered (I don’t understand the ins and outs) I got the full amount.
Hope this helps.
Joanne says
That’s great thank you for your reply!!glad you got the whole amount!!fingers crossed I get a good result x
NA says
Hi – I’ve just received a response from Ferratum who didn’t agree to my complaint but offered me £250 goodwill gesture
Loan summary is that I’ve had 11 loans over 13 months with interest totaling £769.80 (though i had many others at the same time).
I’ve gone back and said that i believe it’s not a high enough offer and that i’ll settle on £500. Not sure if this was the right move or if anyone’s had any success from negotiating directly with them?
Ts says
They offered me £500 recently, but I rejected and went with the FOS as I expect, from previous complaints, that I’ll be able to get around £2.5k. For me it was worth waiting. Plus more loans being removed from your credit file. I emailed them and told them it was way off the figure I expected and they immediately withdrew the good will offer. Will take time, but worth it.
NA says
Ferratum came back to me and offered an increase to £384.90 (50% of the interest paid). I decided to accept and they paid within 1 hour of acceptance. They also advised they would remove all negative records on my credit file. I’ll take it as a win and move onto the next!
Steve says
Hello. Had loans with QQ and Pounds to Pocket (amongst many others) I raised affordability complaints in 2015 which were rejected. At the time just accepted that this was the situation, was not sent loan dates or details and I just thought well that’s that. I didn’t take it to ombudsman. Since discovering this site after Wonga and ICL contacted me, I have revisited them. Just got this email back but don’t understand what they are saying:
Thank you for submitting a complaint. However upon further review we found that you previously filed for an irresponsible lending complaint with us, before your complaint was received. As the final response was issued on 29/10/2015. It is our policy to review complaints made by customers across both the products of CashEuroNEt UK LLC (QuickQuid and PoundstoPocket). As such, we can only review one irresponsible lending complaint for yourself and as you filed for this complaint directly with us before your complaint was initiated; we have to respectfully decline your complaint request and deem it withdrawn.
Yours sincerely,”
Sara (Debt Camel) says
Did you complaint in 2015 ask for loan details?
Did the response from QQ or PTP inform you you had the right to go to the Ombudsman?
Steve says
I no longer have the complaint as it is on an old (and now shut down) email server. Should i ask them to provide me with the final response they sent back then, along with details of all my loans etc.
Sara (Debt Camel) says
yes, I don’t know if it’s going to help, but you may as well ask.
I suspect your only chance of getting this reopened is if they failed to tell you you had the right to go to FOS. But if you asked for a list of loans and they failed to provide it, you can argue that without this you didn’t realise how strong a complaint you had … it may be worth a try.
Steve says
Will request the details and get back on here. At the time I made the complaint I was still overwhelmed with a failing debt management plan and mortgage arrears. (Am out the other side now :-) )so it was a bit of a hail Mary attempt. I didnt have (or send them) bank statements and didn’t really give too much detail of what difficulties I was in when I took the loans. It was a really poorly written complaint which I didn’t follow up, as I had no energy to fight it and had bigger issues to deal with. I now know I could have had a stronger case than I made out at the time.
Thanks for your advice, will update when I hear next.
Jordan says
Hi I took out 5 loans with the same payday lender between 2017 and 2018, with interest on loans totalling £1700, they have replied to me offering to refund the interest paid on the last 2 loans which comes to £300, (but not the interest paid on the first 3 totalling £1400) does this seem like a fair offer and would anyone accept this? Thank you
Sara (Debt Camel) says
who is the lender? how large were the loans?
Jordan says
Swift sterling, loans were 300 – paying 600 back, 500 paying back 1000, 750 paying back 1500, 250 paying back 500 and a few other loans which were paid back quickly, thanks
Jordan says
To make it clearer, borrowed £1800 paid back £3500, and have been offered £300
Joseph says
FOS usually don’t uphold the first 2/3, so by your figures your best bet is a win of £1,550/£3500 is £1,950 (loans 4 onwards) so yes seems like a good reason to go to FOS
Sara (Debt Camel) says
You said 5 loans and have listed 4 “plus a few others paid back quickly”. Sorry you need to be more precise, can you list the amounts borrowed, in the loan order, all of them.
Also what were the gaps between the loans, the time from repaying one to taking out the next one? Were any of these over a month?
Loans you paid little interest on matter can help your overall case by showing a pattern of repeat borrowing even if they don’t increase the refund much.
Jordan says
Sorry was worried about them checking on here and rescinding offer,
Aug 2017 loaned 300 paid back 600
Jan 2018 loaned 500 paid back 1000
6 June 2018 loaned 750 paid 1500
8 June 2018 loaned 250 paid 500
Dec 2018 loaned 1000 paid 1040
8 June 2019 loaned 750 paid 750 back
9 June 2019 loan turned down
Last 2 amounts I borrowed from family to pay back immediately to stop interest payments
Thanks for the replies
Jordan says
They were 6 month loans
Sara (Debt Camel) says
Then I suggest you go back to SS and say you think the third loan should be included as at that point you had again asked for a larger loan with no gaps in between them, suggesting that the first year of loans from them your position had got worse, not better. Say you will go to FOS if they don’t agree,
Tracey Williams says
Can I ask a question on this please as I also received an offer from swift sterling, is there a chance you end up with nothing if you decline the offer and go to the FOS? Thankyou
Sara (Debt Camel) says
In practice this doesn’t seem to be a problem. If SS have agreed to refund loans 6 and 7, then the ombudsman will often assume they are being refunded and just look at the earlier loans.
Stua says
Day 14 of since ombudsman ruled against MYKREDIT and ordered redress to me but still no contact!!! I am assuming they will see it out to the end.
Sara (Debt Camel) says
Have you phoned them up?
Livia says
Good morning guys! Does anyone know the email or contact number for fos to ask for an update on my complaint its been 3 months since the adjudicator email me saying she has all she needs to investigate my complaint and I haven’t heard anything since. I sent 2 emails asking her for an update but no reply. Thanks
JA says
Hello , The best thing to do is call the FOS on 0800 023 4567 and ask for an update.
Hope this helps.
Lew says
Your not alone mines been in line for nearly 9 months now still waiting to be looked at. I accept their busy but it doesn’t take 9 months
Scott says
I got my answer from the adjudicator yesterday , the email saying she had all the information was in March, my original. Complaint was Feb 2018. So 20 months it took all in all, worth it as the adjudicator ruled in my favour for 3 big loans from 118 money. They now have 2 weeks to accept/ counter the decision.
Jordan says
Hi there, I’ve been reading through this page and comments because I have a claim with Wonga which was accepted with estimated claim value of just under £3k, Im just lost on to how to put a complaint in and what to write in the email to them so I can get best chance of getting the full claim value back? Also I have taken out loans with Myjar, uncle buck, mr lender, safety net credit aswell over the past 5 years which has caused me murder! Am I entitled to get money back from them and if so how do I go about it?? Many thanks
Sara (Debt Camel) says
Im just lost on to how to put a complaint in and what to write in the email to them so I can get best chance of getting the full claim value back?
is this for Wonga? If you have claimed and had your claim assessed, then you don’t need to do anything, you will get paid before end January BUT it will only be a small percentage. Everyone will get the same small percentage – there is nothing you can do to increase this.
Also I have taken out loans with Myjar, uncle buck, mr lender, safety net credit aswell over the past 5 years which has caused me murder!
Good news – they are all still around. So use the template letter in the article above to make a complaint if you think the loans you had from them were “unaffordable”.
The definition of “affordable” is that you could repay the loan and not be so short of money that you had to borrow again… so the chances ar a lot of your loans were unaffordable!
Do you still owe money to any of these?
Jordan says
Regarding the Wonga part thanks you cleared that up for me!
I have used the template and made a complaint to Myjar, Mr lender, SNC and Uncle buck this afternoon. Yes the loans was unaffordable most definitely, I am still paying 25 a fortnight to SNC and have roughly £275 outstanding. All of the loans went to recovery agencies because I couldn’t keep up the payments etc
Also how do I go about getting a adjudicator if I need one? And what does FOS stand for?
Sara (Debt Camel) says
FOS is the Financial Ombudsman Service. There your case is decided by someone known as an adjudicator.
But for now, just wait for the lenders to respond to your complaint.
Sean McKenna says
Hi Sara,
I’ve finally taken my head out of the sand and confronted my Payday problem. I’ve had them over a couple of lenders and have started to contact them. The main one I was in a vicious cycle with was MyJar. I’ve worked out I have paid £2,286.48 in interest on my loans with them. Whilst I had loans with them I also had loans with other payday loans, credit card debts and was deep in my overdraft.
What are the chances of me getting any of this money back?
Thanks for all your help. Your website is extremely helpful.
Cj says
I was roughly he same with my jar…I was heavily overdrawn lots of other lenders to..I sent letter to my jar and they denied my request saying they had lent responsibly so I took to the fos and they upheld my complaint …my jar paid out just over 2500. Shortly afterwards.so definitely worth chasing
Sean says
Hi CJ. Good to hear. How long did the process take?
Cj says
They took the 8 weeks then said no sent to foc …all in took about three months quick with paying refund as well about a week
Marie says
Hi there
I just wanted some advice around my phone contract.
I have 5 months left on my contract, and I’m struggling to pay the monthly payments on top of my pay day loan repayments (I cant get my payday loan repayments down any lower).
Are phone companies able to let you downgrade to a cheaper package when you’re towards the end of your contract? Or is there a huge admin fee to pay?
Any advice much welcomed
Thanks
Marie
Sara (Debt Camel) says
Do you have payment arrangements for the payday loans?
Marie says
Yes I do, my phone contract is really expensive – so if I could downgrade to a cheaper package it would really help
JA says
Does any one know the rough time in getting an ombudsman after the company failing to agree/reply to adjudicator?
AQUA – Agreed irresponsible increase and refund of £750 but haven’t agreed to remove default so I asked for ombudsman view.
Moneyboat – adjudicator upheld 2/2 loans but moneyboat declined with no reasoning according to my adjudicator
Quickquid – adjudicator partially upheld but haven’t heard a response from QQ in over 4 weeks.
JC says
I was advised by my adjudicator that in extreme circumstances it can take anywhere up to 9 months. Depends on a variety of factors including the queue of cases your claim has ended up in, complexity of the case, response of the lenders etc etc. Some people have been lucky enough to move to ombudsman stage in under a month. I’m afraid it does seem to be a case of “we’ll get to you when we get to you”.
Gotta give them their credit though, they must have thousands and thousands of claims to deal with, it’s not like they’re making frivolous decisions of who gets the last custard cream. These are decisions around the legal and fair practice of the financial lending industry. Keep up the good work FOS!
C says
Uncle Buck want me to phone them about my complaint. Has this happened to anyone else? I’m dubious about ringing them.
Sara (Debt Camel) says
yes they often ask. They aren’t that nice to deal with. i suggest you reply you would rather correspond by email.
Mandy says
Hi just looking to see what everyone’s experience is with safety net credit. Complained to them kept me waiting until very last day of 8 weeks they rejected my complaint. Now received decision from adjudicator ruling in my favour. Do safety net usually accept the adjudicator decision or do they make it go to ombudsman? Any advice be appreciated
Robert says
Has anyone had any success with Cash 4U Now or not at all?
What is the chances of going to FOS? I have had a decline but they offered to give me a discount of £60 off my outstanding loan balance. I had 3 loans in a year.
I asked them to write off my balance but they are refusing to.
Sara (Debt Camel) says
how large were the loans? the last loan, what did you borrow and what have you repaid?
Stu says
I had 4 loans in succession with them and they rejected my complaint. I took it to the FOS and an adjudicator then an ombudsman have looked at it and said 3 out of 4 loans were unaffordable.
Marie says
Hi guys
I’ve made a complaint about Satsuma to the ombudsman, regarding a loan I took out with them for £1200.
Before they issued the loan, they did ask me for my payslip to confirm I had sufficient funds to pay for the loan.
Do you think the fact they did ask for that will mean I lose my case? Because they made some effort to see if I could afford the loan? Even though I couldn’t and it wasn’t substantially more than I’d taken out with them before?
Thanks
Marie
Sara (Debt Camel) says
So they verified you income – but did they verify your expenses? What would they have seen if they had looked at your bank statements?
Marie says
Hi Sara
If they looked at my bank statements they would have seen I had several other pay day loans out.
I filled in the usual affordability check, but they didn’t check my bank statements.
Do you think I still have a case?
Thanks
Sara (Debt Camel) says
Probably! it will depend on the numbers on your bank statements. I think this is worth going to the ombudsman about – it is a very big loan. You aren’t wasting their time.
Mrs Darcy says
Evening Sara,
You asked me to let you know about my sunny claim, so Sunny gave me a full offer of all 29 loans while I was waiting in the FOS and a week later they deposited £9,500 into my back account !
Im in total shock but very happy.,
Many thanks for everything
Michelle says
That’s amazing, can I ask where you were with the fos? Had you been assigned an adjudicator? Did they make any offer previously? I’ve just sent mine to fos this week after a final response of zero even though they admitted no gaps in lending
Jonny says
I have a complaint with sunny, original complaint to sunny was made this time last year as they didn’t uphold my complaint, went to FOS end of December, picked up by an adjudicator on 3rd July, he found in my favour loans 4-14, sunny again didn’t agree to this and it was sent to the ombudsman at the beginning of August and I’ve been waiting since then and haven’t heard anything, expect to be made to play the long game with sunny, they have been by far the worst to deal with for me!
samantha says
Hi All,
Regarding claiming tax back. hmrc have contacted me saying my form didnt make sense.
exactly what figures am i supposed to send?
i got refunded from Elevate (sunny) a total of £2191.50 with no breakdown. they sent me a letter stating they had paid tax on my behalf stating gross payment £544.06. income tax deducted £108.81 net payment £435.24.
i am just mega confused, where do i go from here please?
thanks in advance!
Sara (Debt Camel) says
The 2191 figure doesn’t go on the R40 form at all because that includes the refund of your money which isn’t taxable. You only report th8% interest added, and those are the figure Sunny has sent you:
gross payment £544.06 – that goes in the “Gross amount” box.
income tax deducted £108.81 – that goes in the “tax taken off” box.
net payment £435.24. – that goes in the “Net interest paid by banks Etc” box
samantha says
brilliant thanks
i am pretty sure i put these figures in online, and the letter says it doesnt add up but i will go back to them with these figures
thanks
R7one says
Few questions about getting refund(s).
I’m currently in a debt management programme with Stepchange, can I claim refunds on the loans in this? I assume they’d go towards paying this off or the difference reduced?
There’s probably a lot of companies that I’ve borrowed from previously over a constant period over 2 – 3 years on a varying basis (It got to the point where I was borrowing from at least 7 companies +4 from one company) – as someone above said, should some of these companies have checked my credit file for all these payday loans?
Would I have to inform my DMP? I would guess if most of them were successful I’d be able to pay it off in one go (being the responsible thing to do?)
Sara (Debt Camel) says
Being in a DMP is a great position to make these claims, as you aren’t under immediate finacial pressure so you can wait for lenders to reply and then send any poor offers or rejections to the ombudsman.
If you get a refund from a lender where you currently owe a balance, the refund is used to reduce the balance. If you have already repaid the debt, the refund goes to you. You can then use it to make settlement offers to some of the debts still in your DMP if you want. But this is up to you, you don’t have to tell StepChange.
Crissy says
Hi
Does anybody know if quick quid only send refunds on a Friday ? Waiting for my refund from them as agreed by the FOS?
Thanks
L says
Can I ask how long have u been waiting?
Turtle says
Little mention re myjar. They made an offer in line with the adjudactors recommendation, I accepted this yesterday and today the payment has been reveived in my bank.
They have been a pain with credit record entries (which records will take a little while to vanish) but the payment process has been swift.
Beth says
Hi
Could you tell me how long it took for them to accept the adjudicators recommendation please?
Thanks in advance.
Turtle says
They didn’t reply in the 2 weeks set by FOS. It took another few days beyond this.
Beth says
Thank you very much.
Stu says
Received an email today from Cash4uNow asking for bank details regarding my complaint that went through the ombudsman and I am getting £735 back. Great result. Let’s see how long they take to process the payment!
Dan says
Update so far, first emailed multiple companies I had payday loans with on 31/05/2019.
Ferratum – 3 or 4 loans, disagreed with me but offered a £250 goodwill gesture (only paid them around £400 in interest anyway so accepted.
SwiftSterling – 1 big loan of £990, despite paying them around £900 I still owed them just over £1000 which was interest, they disagreed but offered that as long as I paid back the remaining £90 they would write off all the interest, accepted!
MyJar – 6 loans with them, around £2800 in interest paid, they rejected, sent to FOS and had a response last week that apparently MyJar did make me an offer for loan 5-6 which were the biggest ones, total refund £2034, I’ve accepted this.
Sunny – 49 loans with them over 3 years continuously, offered me 37-49 (£2,100), sent to FOS, reply back this morning confirming they’ve now asked Sunny for the information. If I get loans 10-49 it’s £5,200 so fingers crossed.
QuickQuid – Only 2 loans with them, only interested in the 2nd loan which was for £400 and defaulted on after one missed payment in a payment plan.
Last but not least Wonga dating back to 2012, email from them confirming I should be owed £13,400 in rebates, be happy with £500 now but importantly it’s over 60 loans they’ll be removing from my credit file.
I now have no Payday loan debt and no credit or store card debt and can finally start moving forward after stupid decisions in my early twenties, thank you so much to this site!
turtle says
great stuff.
Sean says
Hi dan, good to here. How long ago did you start this process?
Dan says
31st May 2019 mate, pretty much all of them came back to me on the 26th July (deadline), taken another 3 months for the FOS to start properly investigating.
Stopped taking loans out in December 2018 to start getting on top of everything then suddenly came across this site, would never have thought I could get anything back without it.
VI says
Sara,
I have got outstanding balance with a lender. I had 9 loans over 2 years period. A couple of them were £1000 or more. I had loans with other lenders and I am in financial hardship. Lender rejects to put acc on hold while this case will be with FOS asking to set up a monthly payment. My question is can I cancel CPA for the time while case is with FOS. Can they take any action against me while this case is under investigation?
So far I have paid interest on previous loans totaling the amount I have outstanding.
Simon says
Adjudicator ruled in my favour with pounds to pocket and gave them until yesterday to respond, looking at today’s news I’m just aswell forget this.
stephen says
ive just seen this, quick quid on brink of collapse
https://news.sky.com/story/biggest-payday-lender-quickquid-on-brink-of-collapse-11843783
another one bites the dust, administrators must be making a fortune out of these companies
Dawn johnston says
Hi Sara
I have a text from Marbles to ring them. I sent an email back saying to please respond in writing. My letter from my psychiatric nurse which they have a copy of states that as well. Is that ok? Thank you for such an informative site. Everyone is so understanding
Mark says
Is Quick Quid and P2P on the verge of collapse? Doesn’t look good.
Simon says
Looks like it, Sky News reporting this as a matter of days
Turtle says
Wow. Quite unbelieveable.
There will be people here stung and denied what’s rightfully theirs by Wonga, Moneyshop AND QQ/P2P by the sounds of things.
I myself have already been denied £13k by these lenders going bust. They were very happy to make me squirm for the interest payments yet didn’t stick around when they owed us. Horrific.
sam says
anyone know how sturdy lending stream is? I am waiting on my £3k but still a couple months away.
Mike_p says
They seem to have slipped from paying out within the 28 day limit to exceeding it citing “technical problems”. I don’t know if that’s a sign they are in trouble or if they are just trying to make things even more difficult for people.
Terry nicholls says
They used the full 8 weeks to the day with my claim, accepted without going the foc, made an offer that i was ok with, told me it would be paid 28 days after i accepted offer, it was paid 28 days after they acknowledged my off, so 30 days and i was paid out
Dean says
Hi all.
Just an update. My adjudicator complaint was rejected by sunny on 16th august and went to final decsion. I have just recieved final decision from ombusman today. In my favour like the adjudicator did originally. Loans 6-47; sunny loans offered me 25-47 and did not budge. Ombusman said it may take 4-8 weeks for company to get in touch and new baby 16th december hoping it may arrive by then but with past experience with sunny not confident. Good luck all, was long wait but got there in the end.
Dean says
Sorry miscalculated was 16th july. So just over 3 months, not 12 months as i have been informed on many occasions.
Mark says
Does that mean people will lose out on claims? If you had any claims from the big 3 lenders still pending then it seems you will be way out of pocket…Does not seem that fair does it.
Anita says
Qq has rejected the adjudicator decision in May. My case is waiting for the Ombudsman since then. So frustrating about the news that QQ may go into Administration.
Simon says
Hi Sara
I have been offered a figure by 247 moneybox which is in my opinion a 3rd or less of what I should get, my case has yet to be picked up by an adjudicator. I’m thinking of accepting in case they go under. This has so far happened for me with Wonga, The Money Shop, Wageday Advance and now probably Pounds to Pocket.
Just wondering what your thoughts are.
Gary Robertson says
I have an outstanding loan with onstride, shall I keep up repayments as it looks like they are in trouble ? I’m struggling to meet the next payment as I am having trouble with my car
Iain123 says
Contact them and ask, bad as they are they can sometimes suspend or reduce a payment.
Marie says
Hi Sara
The ombudsman has got in contact with me and asked for me to send them the details on my pay day loans.
I’m just wondering how long it usually takes to reach a conclusion with the ombudsman?
Thanks
Marie
Adam says
Had decision from ombusman final decision took 3 half months from adjudictaor rejection to final decision. They have given sunny 4-8 weeks to contact me. How long until they usually and how long after will i be payed.
Thanks
Alex says
I’ve had my response from The ombudsman and loans 5 to 8 have been upheld with Quickquid, although this was ten loans in total if you include top ups.
Can anyone please explain how the 8% interest is calculated on a loan that has been topped up?
Sara (Debt Camel) says
there was news story on Sky today saying QQ is going into administration. If this is confirmed, it will be bad news for you as you will only receive what may turn out to be a small percentage of your refund.
KD says
Hi Sara,
Be interested in your thought on the QuickQuid administration rumours? I’ve just accepted an offer from them which will take 28 days for them to pay me, I’m assuming if they go into administration within that time the offer goes out the window?
Sara (Debt Camel) says
probably. But there are different forms of corporate insolvency in Britain and although I am not optimistic, there isn’t much point in speculating now. We may well know more in the morning as their US parent publishes its quarterly results late tonight.
Jed Brown says
Quick Quid offered me a refund which I accepted around 40 days ago … They haven’t paid ..
Will I be at front of queue !?
Sara (Debt Camel) says
Unless you are paid before the administration starts, the answer is No. The only priority creditors are employees, secured creditors, and the Administrators fees. everyone else – including the Finacial Ombudsman who must be owed millions – will get paid the same percentage at the same point in time.
Richard Philp says
Payday loans
I appreciate if customers have been missed sold too, encouraged to roll debt etc. But surely they need to take responsibility for taking out these loans. The UK has a very big financial sector but it will decrease if claims management companies keep finding ways to reclaim money.
The APR of these loans look really high because it’s such a short term, but consumers are conditioned to look at APR’s to compare deals. But if a friend in the pub said “I’ll lend you £100 but you give me back £120 at the end of of the month. You’d probably say ok. But if he said I’ll lend you £100 at 1500% APR you’d tell him no chance.
Unfortunately consumers get told they can do this so more and more people do it.
Accident claims.
PPI
Payday Loans.
What’s next
This will be an epidemic that will cripple our country.
Sara (Debt Camel) says
The problem isn’t one payday loan for £100 where you pay £20 interest. The problems is not being able to afford to repay that without borrowing £120 to get through the next month. Then the month after you have to borrow £150. QuickQuid has loaned continuously to borrowers for literally years, trapping them in ever-increasing debt and making large profits in the process.
QQ has broken the regulator’s rules about affordability for more than 10 years. That is why it has huge numbers of customers that have got very good claims for refunds. And why so many complaints are being upheld by the Ombudsman.
These aren’t some invested whiplash complaint to get money out of an insurer. These are people who were desperate and where the lender took advantage of that to charge high interest and to continue to lend past the point where anyone with any common sense would have realised the borrower was in deep financial trouble and the last thing they needed was more high-cost credit.
Jay says
Nice try but you are comparing apples to oranges.
If you borrowed 100 from a friend to repay 120 after a month, that’s fine.
The issue with payday loans is problem debts..so if you keep borrowing every month from the same friend and 18 months later your are now borrowing 1800 to return 2400 after. a month, your friend or indeed any reasonable person or company should know that you are now relying on this loans!!
This is the issue. Read the stories! People have taken out 40 loans with the same lender consecutively. The companies deserve to be punished for their greed and if they collapse, too bad. The financial ombudsman usually starts raising eyebrows after loan number 3.
Iain123 says
There’s not enough financial education for young people, leading to debt chaos. Some people are bad with money. Some people are addicts/alcoholics and have messy lives. Some people just go through life and shit falls on them every day. I hope you never experience the madness of crippling debt and the ruinous effect on peoples lives.
Apparently only a fraction of the possible payouts are claimed. Due to improvements in financed tech companies are run by a small number of people, Wonga made less than 50 people redundant in a call centre in South Africa, for example. The Wonga bosses in South Africa made hundreds of millions in profits from UK customers and are legally protected against claims.
No ‘mate’ would charge interest on a small loan.
Chris says
To Richard Philp Claims are, by and large, not being made by CMCs. They are being made by individuals who have paid companies like QQ thousands. I have had an Adjudicator rule in my favour against QQ. The value is £18000. That means I have paid this money for loans to this company. The FOS has ruled that QQ has lent irresponsibly. Pulling out of the UK market means that this money has almost certainly gone. So – yes, the UK has a large financial sector. In my experience, it exists to make money from vulnerable consumers like me. Personally, I don’t really want to live in a society like that. The government through both the FCA and FOS has failed to protect consumers and, just as in the financial crash, it’s consumers who are left to pick up the pieces. In my case, I am unlikely to finish picking up the pieces (which include paying off a mortgage debt to Northern Rock after the house was repossessed) before I retire. I hope I become a burden to the state from there on. At least that way, I’ll get something back from the state.
Mike_p says
I might have thought the same as you at one point but for various reasons I got into a payday loan trap. I don’t claim to be entirely blameless but the companies involved definitely took advantage of the situation – Lending Stream for example let me have 6 loans at once when it should have been clear to them that I had become reliant on them. The fact that the financial ombudsman upheld my complaints means that the lenders acted irresponsibly.
The good thing about this site is that people can be open about their problems without being judged and can get some very good advice about getting themselves back on track as a result.
Andrew says
Richard I agree. I have had ups and downs through life. Redundancies, illness etc. and I have had to borrow money. But I have always paid it back and never blamed anyone else for this. There are occasions people need a small loan to help them get what they want, and this may be more than once or twice. I often hear people bragging about them taking out a small loan and then complaining expecting to receive thousands back! All that will happen is that these companies will say it is not worth the hassle and cease trading. What will happen then. Proper loan sharks will raise their heads. This has been proven in other countries. Would you prefer a regulated lender or an illegal one? I agree if a company has lent irresponsibly, lending again and again over a long period of time, but when people are bragging about claiming for a handful of loans, that they have requested, to help them out, this is wrong. Please tell me where the money will come from when more of these companies go, because your bank won’t help. We are turning into a country that just wants to complain and sue for money.
Sara (Debt Camel) says
“I often hear people bragging about them taking out a small loan and then complaining expecting to receive thousands back! All that will happen is that these companies will say it is not worth the hassle and cease trading. “
That is a very long way from what is happening at the moment. QQ would be very happy if lots of their complainst were this sort of vexations complaint. They aren’t. The Ombudsman is upholding the large majority of these complaints.
And when the wonga administrators have assessed the complaints they have been sent, they have decided more than 400,000 are valid with an average value of £1,200.
Very poor lending practices by Wonga, QuickQuid and other payday lenders has been widescale for years.
Chris says
To Andrew Not looking to get a free cash out. Before you rush to judge, remember that the redress is a RE-payment of money already paid. Nobody wins here. Most of us HAVE wanted to take responsibility for these debts. In my case, I have repaid the loans. It simply turns out that I shouldn’t have had to. Now, I am not going to get justice and am £25000 poorer. Not quite sure who benefits from that, are you?
Adam says
Has anyone won complaint with sunny at final desiciom stage. I would like to know what happens now and how long until final desicion to contact from sunny and payment. Been going long time and want over. Hoping soon but sunny drag out everything and in dire finicial situatiom. Thanks
Ts says
For me, Sunny came back and disagreed with the adjudicator. But I accepted around £2300 rather than going for more months at the ombudsmen for an extra £800 or so. I’ve rejected other offers recently so this was enough to just get some money here and now. Sunny took 5 weeks to respond to the adjudicators 14 day time line, and then they paid me in 10 days.
Adam says
I want to know really the process after final decsion in my favour. But thanks.
Sara (Debt Camel) says
I assume you have told FOS you accept the Ombudsman decision.
Then I suggest you contact sunny and tell them that your bank details have stayed the same OR here are your new details. They usually pay out reasonably quickly.
Ali says
I accepted the final ombudsman decision on 7th October, emailed sunny my new bank details ( automated response said if you are chasing payment it will be done in line with final decision) i haven’t heard a peep from them! the email from ombudsman said it was now legally binding and i should hear from sunny with in 4-8 weeks and to contact them after 8 weeks if i had not heard…so i am just waiting as well.
A says
I would contact them after 4 weeks. When i spoke to someone from sunny to give my bank details they said payment would be processed within 30 days of them recieving bank details so will have to wait and see.
A says
Hi ali.
Have you had any response at all since sending your bank details? Seems rude they have not even let you know they have recieved them. I would not wait 8 weeks 4 should be long enough to at least have a email reply. There phone numbers are never answered.
Ali says
Hi
No nothing at all from them yet, I would have thought the companies would send an email to confirm the amount (I don’t know what mine is only my own estimate) but just to say we have your details and this is the amount and a rough time frame, i thought it would save them time and stop people chasing but doesn’t seem to be the case, but maybe there are just so many of us they can’t, I will update if I hear anything thou :-)
James says
Hi Sara
With the latest news on QQ, does this mean other lenders, for me namely provident .. could do the same ?
Thanks
James
Sara (Debt Camel) says
Provident is a HUGE British company, market capitalisation over over a billion pounds. It also owns the Vanquis credit card and Moneybarn car finance.
Chris says
Forgive me for not believing anything about any of these firms. With 4 lenders who owe me money having gone bust, nobody should expect anything. Further, nobody should believe that the FOS will do anything to help. Provident will probably owe me a redress but probably won’t be asked to pay anything before I have paid everything I owe. That’s the pattern. Then they will go bust.
Neil says
Hi Sara,
Am I correct in thinking that Satsuma is not a subsidiary of Provident and that Satsuma is just a trading name?. Therefore there shouldnt be the same issue claiming redress from a parent company as there is with the Cash euronet group and QQ?.
Sara (Debt Camel) says
Satsuma is a brand name of Provident, not a separate company.
Louise says
Hi Sara,
I had 2 loans with Pounds to Pocket and the 2nd was topped up. My adjudicator has decided that only 2a (the top up) should not have been given.
I’m trying to work out how much I’d get before I decide.
It was for £1670 but £670 was to settle previous loan. I made payments of £2530 in total against the top up.
I dont know whether they will say the loan amount was £1670 if it’s the only one they’re refunding and work it out against that – or they’ll say the loan amount was £1000. Any idea?
Thanks
Louise says
I’ve just read the news :(
Sara (Debt Camel) says
so sorry. :(
Samuel says
Hey
I have escalated a lending stream one to the fos hoping for around 3k back.
its been 6 weeks, how long does this process take approx.?
will someone get in contact soon and how long do they take to look at the case?
thanks
Mike_p says
With me it took about 2 months for an adjudicator to be assgined, then a month for them to make a decision, then a month for the lender to agree, then a month for the lender to pay out.
Lauren says
Hi Samual
Mine in total took around 1 year. Lending stream were the first to pay back some money but it wasn’t a quick process. Just hang in there.
Em says
Mines been with the Fos for around 2 months – an adjudicator was assigned 2 weeks ago and he advised he was still waiting for Lending Stream to send him all the information.
Gg says
Hello,
Bit of an odd one here. Mr Lender have an old address registered for me and I am not keen on sharing my personal details now with them. They have said they sent their final response letter to this old address and will not disclose to me what the outcome is via email as “it is our company policy that all of our final response letters are issued to our customers via postal service.”
This seems weird considering other companies have settled online. I would be grateful for any advice you can give please, Sara, although I do appreciate how busy you are!
Matt says
That is not true. Mr Lender have communicated with me only via email and they sent their final response via email also.
You should go back and insist that they provide it via email. Did you state your new address in your original complaint and direct that all communications be delivered either by email or to your new address?
Gg says
Neither. I didn’t think I’d have to considering all correspondence has been via email. It’s a strange line to take. I’m trying to save them postage costs after all.
Dale says
I had a final response off them via email back in May. Don’t think they’ve changed their policies since then.
Terry nicholls says
This is not right, they phoned me and discussed my complaint, they verified my email address, sent me an email so i could send proof on bank details that had changed, i have had no, physical paper work from them, also still waiting for the calculation email, to claim tax back, and its been two months for that
Tommy says
Hi,
I have just had an offer from ferratum to waive my balance and a couple hundred pounds directly to me.
They’ve also registered a default but it appears they won’t be removing this. They said it will be shown as repaid in full, I’ve asked them to clarify but they’ve just carried on with other jargon making it very unclear.
I want the default removed I am not going to accept the offer without confirmation of the default being removed.
They’re adamant they haven’t been responsible, they also said if I complain to the ombudsman the offer will be withdrawn. I’ve won other cases I just want the default removed, i can’t believe they want to waste time like this as I’ll probably end up getting a bigger refund when I go via the fos.
I rather it be put to bed now, it’ll take 5/6 months or so via the ombudsman. Any ideas?
sam says
looks like they wont move their offer anymore.
The fos will probably get that removed but its never guaranteed. and a higher chance for more compensation if you do go to them.
but like you said, probably 4/5 months away.
either accept the offer for hwats offered or wait months for more.
Tommy says
It’s a no brainer, I’ll arrange to send to fos. The default is completely unfair. I paid installments late on 3 occasions, one even by 6 weeks and they lent me more.
I’ve won other cases.
Donna says
Hi Guys, just came across this and wondered whether it was worth bothering submitting a claim to Sunny? I’ve not borrowed for over a year, but at one stage I had 3 loans on going each month and was continuously borrowing more once they were paid. They absolutely crippled me. When logging on now, I can’t see my loan history. Is it worth starting a complaint now or have I left it too late?
Sara (Debt Camel) says
That sounds a strong complaint – definitely worth a claim.
Danny M says
Hi,
I’m considering a claim to Sunny, after logging on and checking my history with them (19 loans over 3 years, total loan amounts £4K, total repaid probably double that)? Surely this must be an example of irresponsible lending?
AC says
I think the FOS needs to step up their act with these lenders.
It appears that the lenders are playing delaying tactics by ignoring decisions of the adjudicators for the complaints to be forwarded to an Ombudsman.
I feel lenders should be penalized especially in cases were the Ombudsman fully agrees with the Adjudicator’s decision.
MM says
Had a good result with Sunny, with the business agreeing with the Adjudicators finding, so a redress of £5,147.46. It’s taken nearly a year to get this point but very pleased with the outcome.
Myles says
Hi MM,
Do you mind if I ask how long it took from submitting your complaint to the FOS to getting an outcome. I submitted mine about two months ago and haven’t heard anything back. I called and got a reference number and submitted supporting documents as I couldn’t upload them via the online complaint tool.
Stu says
Cash4uNow have refunded me £735 today and that was 24hours after sending in bank details. That was roughly 14 months in total after sending initial complaint and having to goto adjudicator and ombudsman level. They paid out 10 days after ombudsman decision so very happy with the swift conclusion.
Sara (Debt Camel) says
Good to know it was quick in the end.
A says
**Sunny refunds – CHECK YOUR CREDIT FILE**
Hi all,
I had success with my Sunny complaint via FOS. On checking my credit report last night I noticed that sunny loans were still there and I’d have expected them to have been removed by now so I emailed elevate at customerrelations@elevatecredit.co.uk and they confirmed that there has been an issue with their reporting to credit reference agencies. Suggest anyone who has had a refund in the past few months check your file and contact elevate if loans are still showing. I reckon 3 months since the refund is a good time to check as I think the changes can take 6-8 weeks to show.
A
Darren says
Are they defaults? Or just loans you paid on time? as I have been asking questions to elevate (who I complained direct to after sunny declined my claim), and they agreed with my complaint, gave me a full refund of interest, but said as there are no defaults, there is nothing to remove, ombudsman also confirmed to me that only defaults/late payments will be removed.
sofia says
I have asked for refund from Safety net Credit, i had opened account for over a year and during this time i boroved over 15k with paid interest of 2660£ . how has anyones experience been with them? did they refunded ? did u get full refund of all interest paid and how long it took? i submitted my complain on 18th september so it is week 5 now i believe and i am still waiting they deadline to respond is by 13th nov.
Chris says
They are pretty good but you will probably need to wait the full 8 weeks. If you have a case, they tend to make fair offers and pay our promptly.
Ts says
I had a response at the end of the 8 weeks offering 3.5k which I’ve rejected. I’ve paid almost 7k in interest and their reasoning didn’t match the facts. Fingers crossed it was a good decision to reject and they don’t go bust!
Siobhan says
Both myself and my partner complained to safety net on the same day. He had a response and his balance written off with rest on interest paid back within a week. I ended up taking a personal loan to pay off safety net because the £350 interest was killing me. Still haven’t had a response off them.
Sara (Debt Camel) says
How long since you complained?
James says
Safety net were good with me but they were 1 of my smallest loans I paid them £700 in interest they cleared my outstanding balance of £600 & paid me £100 so got the whole lot back … satsuma owe me over £3,000 & won’t talk to the ombudsmen … safety net are quality compared
Mandy says
Had my complaint rejected by safety net they gave me decision last day of the 8 weeks took it to FOS they ruled in my favour Safety net now saying they haven’t received anything from FOS found them a nightmare ! From others experience do they agree with adjudicator or do they just ignore and make it go to ombudsman
Siobhan says
Coming up to the 8 week deadline which is fair enough. I was just a bit annoyed that they responded to my partner and refunded within a week. Imo my case is pretty clear, I ended up having to borrow everything back every month the day they took it from my bank and they kept increasing my limit every month. Really hoping they don’t reject on the last day, have a feeling they will.
Andy says
Has satsuma speeded things up yet or they still very slow my 8 weeks is up Monday cheers
A says
Hi Andy,
Satsuma are absolutely shocking. They asked for an extension at the end of the 8 weeks, claimed they hadn’t received anything from FOS when the case was passed (even although I had discussed it with them) and are now about 7 weeks over the FOS deadline to respond to their decision. I’ve been told they are snowed under with these complaints.
A
Andy says
How long was your complaint with the Fos before they picked it up ? There’s always one everyone else has been pretty swift with complaints
A says
Hi Andy,
I can’t remember exact timescales but believe I submitted to FOS early May, it was assigned an adjudicator in July and I got a decision by the beginning of September. I submitted alongside Myjar, bamboo and 118118 and the FOS moved on it quite quickly. By comparison I’ve not even got an adjudicator for bamboo or 118 yet!
Hope that helps.
A
Mark says
Can anyone tell me if sunny are about to call it a day? I dont want to scaremonger but I have recently heard they could well be.
Ali says
I would be interested on thoughts about this as well, I thought QQ would be ok because the parent company was doing well but I didn’t know/understand that they could just cease the uk arm without it effecting the parent company like it does. Does Sunny have a parent company that could do the same…I’m really hoping not! I am 21 days after a final ombudsman descion in my favour and not a peep from Sunny yet (although I think that has been normal for several years now and nothing new!)
Jon says
How long did it take for ombudsman to pick it up, they rejected adjudicator and it went to ombudsmen in August, but thought it should have been picked up by now
Ali says
Mine was placed mid August into the ombudsman que and I got the final decision near the start of October, I was really surprised it was picked up so quick. I originally sent the complaint 2018.
Sara (Debt Camel) says
Sunny’s US parent, Elevate, reports third-quarter results on November 4th.
Their second-quarter results in July said nothing in the figures about UK refund costs that I saw. In the earnings conference call (see https://seekingalpha.com/article/4278838-elevate-credit-inc-elvt-ceo-ken-rees-q2-2019-results-earnings-call-transcript, you will have to register) – often more interesting than the numbers – there was question about this:
Q The U.K., is there a point in time where you will give up and just jettison it like we have seen others in the market? How do we think about your decision-making there?
A from CEO As we stand today, the U.K., the core business actually is operating relatively well. The CACs are at all-time lows. Our losses are very stable. And actually Sunny just won an award for best lender under €2,500 voted on by consumers. But obviously, the big topic over there is the complaints and how the FASB and FCA are working to resolve some of that. From where we sit today, we actually see complaint volumes for the last quarter were slightly down.
The U.K. business for the first half of the year has been right at a breakeven. It’s forecasted to show profitability for the second half of the year, even at the current volumes that we are at right now from a complaint standpoint. But it’s really going to come down to an economics decision. Well, actually, the portfolio is generating good cash flow. But we can’t sit it out there forever without having the clarity. So we think over the next three to six months, we will get more clarity and make a decision on, is the common ground a viable business solution to make that work for us.
That is much the same as they have been saying for a while. Not particularly alarming.
Sunny will also gain from QQ going under. The demise of the market leader will mean there is more good quality business for other lenders. Sunny should therefore be able to increase their credit requirements so should get fewer defaults and higher profits.
My crystal ball is in for repair. We will have to wait and see.
Ali says
Thanks Sara, hopefully they can make enough from responsible lending going forward to pay everyone what they are owed. I’m waiting for around £1200, not a massive life changing amount but enough to end years of a horrible cycle and give my children a lovely Christmas without having to struggle.
Ali says
Although reading through the Sunny trust pilot reviews they are not processing payments…people are waiting weeks and some months beyond the deadlines and still no payment. Has anyone received a payment from Sunny in the last month?
Sara (Debt Camel) says
People who haven’t had a problem don’t post on Trust Pilot.
Here is someone who was paid pretty quickly in the last few weeks https://debtcamel.co.uk/payday-loan-refunds/comment-page-161/#comment-323499
Ali says
Yep I guess that’s normal, people tend to voice bad news louder than good :-) thank you, fingers crossed for everyone waiting for good news soon :-)
Paul Wakeman says
Has anyone ever requested closed accounts be removed from their credit report and if so how did you go about it? I currently have 22 closed accounts showing on my ClearScore report. Thanks.
Sara (Debt Camel) says
were all these closed accounts from the same lender? who?
Paul Wakeman says
9 from BrightHouse (I’ve only ever had 3 items with them but did have to enter in to a special arrangement), 7 from 247 MoneyBox, 4 from O2 and 1 from JD Williams.
BrightHouse is currently with the FOS, 247 MoneyBox has been upheld by FOS and 247 agreed so am just awaiting redress & the default loan to be removed. O2 is paying off contracts and JD Williams is with FOS
Scott says
Hi Paul,
When I first started following this forum back at the beginning of 2016, the FOS used to tell the business’s to remove all the redressed loans from your credit report.
This changed and now the business’s are only told to remove negative information – late payment markers, defaults etc but the loan is still shown as closed and settled on your report.
The only exception to this is if you have had a serious amount of loans from the same lender and then the FOS will say to remove loans x to y from your report as the sheer volume of loans is seen as a negative factor.
Scott
Mike_p says
In July the FOS made a decision on 16 loans I had with Lending Stream and said loans 7 onwards should be removed completely:
“You should remove any adverse information you have recorded on Mr X’s credit file in relation to loan 6. The overall pattern of Mr X’s borrowing for loans 7 onwards means any information recorded about them is adverse, so you should remove these loans entirely from Mr X’s credit file. If you have sold any of the loans you should ask the debt purchaser to do the same.”
Paul Wakeman says
Hi Scott. Thanks for the information. I understand about the redressed loans etc being removed but just think it’s unfair that people can see your credit report with a number of closed loans especially if they’ve been settled with no problems.
However, with mine, I’ve got 9 closed accounts showing with BrightHouse and 3 active ones. I’ve only ever had 3 items so I’ll wait and see what the FOS say first before asking BrightHouse to remove them as I don’t think they should be there!
Thanks again.
Sara (Debt Camel) says
If the number of loans on your credit report is incorrect, I suggest you ask BH to remove them immediately. This has nothin to do with whether you win an affordability complaint against them.
Paul Wakeman says
Thanks Sara. Will email their “customer experience” team this morning asking for the 9 accounts to be removed.
Sara (Debt Camel) says
Well only the ones that are wrong or duplicates!
Scott says
Hi Paul,
Unfortunately the ICO says that Lenders have to record this information. It shows future Lenders your borrowing history, both good and bad points.
If no history at all was showing a Mortgage Lender may not wish to lend if they have no knowledge of someone’s repayment pattern etc.
If we all had of been able to get closed accounts removed, the Payday Lenders that we are winning complaints against now would simply be saying, “we didn’t know they had been borrowing elsewhere as nothing was showing on their report”
The Brighthouse scenario should only show 3 accounts if you only purchased 3 items, unless the special arrangements were a sort of refinancing where terms were changed and a new contract issued. I would definitely check this one out.
Scott
Andy says
Can you complain about brighthouse ?
Sara (Debt Camel) says
Satsuma is a brand name of Provident, not a separate company.
Holly says
Hi all I had a complaint for my jar 12 month installmant loan for £725 rejected from the adjudicator and I had 4/5 payday loans at the time I took the loan out , shall I send it to the ombudsman ?
Sara (Debt Camel) says
did you say the loan was to pay off the payday loans?
Holly says
Hi Sara I didn’t no
Sara (Debt Camel) says
In that case it may be worth taking to the Ombudsman level, you argument being theirs was a large loan over a year and Myjar should have carefully considered if you could have afforded it, which the other payday loans on your credit record would have suggested that you couldn’t.
Lee sharratt says
Good evening. So having received over 7k in refunds over the past Couple of years. I wanted to say how delighted I am with the fact that wage day, Wonga and quickquid are no more, and managed to get a refund from all. Which I’m delighted with. Also on a separate note. All these William Hill shops closing too. How brilliant, being an ex gambler
Iain123 says
Well done, Sir.
Ali says
i know this is not the place to discuss the shops but I wanted to say that although it’s good news for some the shops are only the tip of the iceberg, the online world is horrific and the regulations are weak. People are behind closed doors these days and it’s a tragedy. No betting company should allow 20 30 40 plus deposits a day and be able to hide behind a shield of ‘we offer deposit limits’ etc. We compulsive gamblers are often easy to spot with a pattern online…but they would lose revenue.
Iain123 says
Problem gamblers make up the bulk of their profits and they know it. Same thing with alcohol companies, if people drank responsibly profits would be hit, therefore tac receipts for government. Its all a big shit show
R7one says
Just had a reply from peachy/cash on go, they’ve asked for payslips and bank statements, do I have to provide these and if so do I have to provide all the information on them or can I just tell them I’ll send these to the FOS if needed?
Sara (Debt Camel) says
You don’t have to provide them. Payslips are pointless if you provide bank statements! I don’t know if Peachy are more likely to accept your claim if you do send them.
KellyE says
Hi R7one
I complained to Peachy on 26th August, they asked me for payslips and bank statements. I did not provide these, I originally had 12 loans with Peachy, they came back to on 18th October upholding loans 6-12. I didn’t agree and requested they reconsider loans 4 & 5 at this point I sent bank statements only. Four days later they confirmed they would pay an additional £200 as goodwill gesture.
I’ve taken this as a win they’re total offer is just over £1200, I have a number of other complaints with FOS so the additional waiting time was not for me. Peachy have confirmed they will make the payment within two weeks, by 8th November. They’ve been extremely pleasant during this whole process. Good luck!
Emily says
Hi, I have finally received news from an ombudsman today that they are upholding loans 4-7 from satsuma! I’m so happy! Please could you work out the 8% interest for me?
Loan 4- £1000 interest £246.37 4th September 2018
Loan 5- £100 interest £0.45 29th October 2018
Loan 6- £500 interest £2.09 6th November 2018
Loan 7- £270 interest £0 9th November 2018
Totalling £248.91 interest.
Thank you! X
Sara (Debt Camel) says
At a guess about £20. Only the 8% interest that gets tax deducted from it