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 if you still owe money.
This article covers everything you need to get started. It’s simple, easy, free and many people are winning large payouts.
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 because you managed to repay 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 be used to solve a short term problem. If you kept rolling a loan or 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 ignored even very obvious signs of problems such as your loans increasing in size or borrowing very soon after repayment.
How much compensation can you get?
You don’t have to calculate what a fair refund is or which loans were unaffordable.
Just ask for a full 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.
This is because payday loans are meant for short term problems and the lender should not have carried on giving you loans. This may be earlier – from the first or second loan sometimes – if your first loans were rolled or topped-up or were very large.
Which lenders can you get refunds from?
Use the letters on this page to make an affordability complaint to most UK payday lenders, see the email list for payday lenders. The larger lenders include:
Sunny, Lending Stream, MyJar, Satsuma, Mr Lender, Ferratum, CashASAP, Moneyboat, Smart Pig.
Also use these letters for the very high-cost sorts of “flexible credit”, including:
SafetyNet Credit, Drafty, Polar Credit.
But the process described here – complain to the lender and then send to the Financial Ombudsman if the lender says No or gives you a poor offer – won’t work if the lender has gone bust:
- 247 Moneybox, Peachy, Piggybank, Swift Sterling, Uncle Buck are in administration. Send a complaint to the administrators, see the lenders’ websites. You may not get much back but this is very easy to do, just send a short email saying you were given unaffordable loans;
- QuickQuid – read What will happen in QuickQuid’s administration for how you can put in a complaint.
- the Money Shop, Payday UK, Payday Express – all part of the same group – read Money Shop – Latest news for how to put in a complaint about them.
- Wonga, Wageday Advance and lenders who gave up years ago – it is now too late to make a complaint about these lenders, see this list.
For longer-term loans there are better template letters to use here:
- Provident,
- Amigo and other guarantor lenders,
- 118 Money, Everyday Loans and other high-cost large long-term loans.
First, before you send in a complaint
Doing these four 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. Don’t get an Experian or ClearScore report instead – many payday lenders don’t use those.
If you can log-in to the lender’s website and see your loans, take a copy of them as sometimes they vanish when you complain.
If you still owe money to the lender:
- 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.
- read the Stop making payments? section in Payday loan refunds when last loan not repaid. If you want to offer a lower affordable amount, add a sentence to your complaint letter saying this.
- if you have a lot of borrowing at the moment, read Escape from the payday loan trap which looks at how a debt management plan can help you.
If your loan was sold to a debt collector you still complain to the original lender but also tell the debt collector that you are disputing the debt. Don’t skip this bit or a debt collector may go to court. It is a good idea to carry on making payments to the debt collector if they are affordable.
Step One – start your complaint & get loan details if you don’t know them
Find the lender’s email address for complaints from this list.
Then send your complaint email. Put “AFFORDABILITY COMPLAINT” as the subject:
You should never have given me these unaffordable loans. 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.
[Only put this bit in if some of your loans were more than 6 years old. This explains why you haven’t complained before. It ‘s only an example, don’t copy it, change it so it covers what happened to you!] [I didn’t know that the lender was supposed to check that I could repay the loan without having to borrow more. I only found out in November 2019 when I saw a newspaper article in the Sun/an advert on Facebook for payday loan refunds/a friend said they had made a complaint/whatever.]
This email starts off your affordability complaint.
The lender has to reply to your complaint within 8 weeks from when you send the email, not when they acknowledge it. That 8 week clock has started ticking… don’t be surprised if you have to wait until the end of the 8 weeks to get response. In April 2020 some lenders started asking for more time because of Coronavirus – here are my thoughts on that: Should you allow a lender extra time?
Step Two (OPTIONAL) – send more details
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 is already underway.
I don’t know if many lenders actually read what you send them. But it’s easy to do – you don’t need to calculate what refund you should get or quote laws.
Change this template so it tells your story.
I have had x loans from you from [2015 to 2016].
Paying you each month left me with too little money so I had to keep borrowing to get through the next month.
For this period my take home pay was about £x a month.
[Include the following details if you know them, but if they varied a lot miss this out My living expenses were roughly: rent/mortgage £x. Council tax £x. Utilities and bills £x. Transport costs £x. Clothes £x. Food, toiletries etc £x. Child expenses £x Other debt repayments £x. Total £x per 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.]
You should never have given me these unaffordable loans. I am asking you to refund the interest and charges I paid, plus statutory interest, and to delete negative information from my credit record.
Good ways to improve this
Add any points that help you describe what happened to you. And delete any bits that don’t matter to you. 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 add a bit about this.
Don’t worry that the lender will say you should have cut back on your living costs, just put down your normal expenses. You don’t need to include evidence about your expenses.
Should you send credit record and bank statements?
Some lenders ask you to send them a copy of your credit record, your payslips or bank statements. This is mostly to be difficult – the lender can check your credit record themselves if they want.
Don’t send payslips – they won’t help an affordability complaint and the ombudsman never asks for them.
You can send bank statements if you want, but think twice about the cost of copying and postage if there are a lot. Depressingly most lenders seem to ignore them if you do send them.
Some people feel these are personal and they don’t want to send them to a payday lender. If you don’t want to send them, tell the lender you will send the Ombudsman any information that is needed.
Step three – go to the Financial Ombudsman Service (FOS)
If the lender rejects your complaint or offers you a small amount, don’t be depressed. You may still have a very good case, they are just hoping you will give up!
Instead you can send your case to the Financial Ombudsman. This is easy and free.
Tens of thousands of these cases have been sent to the Financial Ombudsman where there is a higher success rate for these affordability complaints than any other type of complaint!
Give up, negotiate with the lender, or go to the Ombudsman?
Some lenders try to make your case sound bad when it isn’t. People have had thousands of pounds refunded after a complete rejection! Just ignore any of these comments, they do not mean you have a weak case:
- they relied on your loan applications and you didn’t give the full 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.
- your loans are over 6 years old – the ombudsman will look at these even if the lender says they won’t!
Will a lender improve an offer?
You may be wondering if you should go back and try to get the lender to give you a better offer. Most lenders won’t do this, but a few may if you make out a good case. For example if they have offered to refund loans 6-12 you would be happy if they included one or two more, you can say why you think loans 4 and 5 should also be refunded. See When and how to negotiate about payday loan refunds for more details.
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 from a lender 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 if you think you paid a lot more than that in interest. Some lenders offer a few hundred pounds to cases which eventually get ten or twenty times as much from the Ombudsman.
- an offer to write off your current balance may sound good … but it may be very poor if you should get a refund as well, see Refunds when you have a balance owing for details and ask in the comments below if you aren’t sure.
- 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 rolled or topped up several times; or
- the loan was large. Here is a single MyJar loan case that was won even though it was an instalment loan and the borrower had a good income because it was for £3,600. And a single loan Sunny 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.
How to send a complaint to FOS
Put in a separate complaint about each lender. So you don’t have to wait until all your lenders have replied before sending the first one to the Ombudsman.
One reader said: They couldn’t be any nicer. Caroline Wayman, the Chief Ombudsman, says:
It’s really OK to phone up and say, ‘I don’t think it was fair.” It’s not court; you don’t have to turn up with your ‘heads of claim’, you don’t have to write a fancy letter. Tell us your story and we will do the rest.
I like FOS’s “complain online” option which takes you through your complaint step by step.
You can just copy in what you said in your complaint to the lender. Add more details, for example, if you disagree with what the lender replied to you. Include a paragraph about having only just found out you could complain if some of the loans are more than 6 years old.
Things to attach:
- the reply you have had from the lender.
- bank statements if you have them. Ideally you want statements 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 Credit Karma credit report.
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. That won’t happen until the payday lender has replied – typically it is between 2-5 months at the moment.
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, see What happens at the Financial Ombudsman for details.
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!
Need some help?
If you need help to complain, go to your local Citizens Advice, they will help for free.
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.
Ask for a refund for large bad credit loans
Why is Sunny making poor offers?
More refunds for Amigo loans
Rob says
FOS have asked for a copy of my credit file. How do I get this? Clearscore don’t offer a printable or downloadable version? Any ideas?
Ste says
If you can get on clearscore on a pc/laptop you can save it as a PDF file and attach it to email.
Open up clearscore credit report – right click on page and select print – select print to PDF this will save it on your computer
Sara (Debt Camel) says
Don’t send a Clearscore report! A lot of payday lending doesn’t show up there. Get a Credit Karma report instead.
Sarah says
Hi everyone
I was hoping someone could let me know what I should do next. I’ve received my final response letter from cash converters and accepted their offer. The 28 days for them to payout ends tomorrow (Thursday 28th November ) but still there’s nothing in my bank, I’ve rang them to which they just keep saying the 28 days aren’t up yet. But what happens if the 28 days comes and goes what happens then? And is there anything else I can or should do? Is it normal for this to happen? Thanks.
Iain123 says
Yes, it’s normal due to the volume of complaints. Just keep pushing them.
Sarah says
Thanks for your reply but do you know what I should do next if they don’t pay tomorrow? Can I escalate the case and if so how do I do that. Thanks for any advice, this is my first attempt at getting redress and I’m not sure what I’m doing.
Sarah says
Hi guys
It’s now 28 days and still nothing in my account I’ve phoned them and now they’re saying 48 hours is this all I can do? Just wait for one deadline to go after another? Any advice. Thanks
Richard white says
Hey Sara,i got my sunny response back,after totally proving it was irresponsible lending they REJECTED IT with what looks like to me as a generic template sent out on the last day of the 8 wks! Does somebody have an e mail of somebody in elevate high up please? I have emailed 2,a grice and another and also the bbc watchdog and the fca or fda! I want to take this further before ombudsman.thanks
Sara (Debt Camel) says
I suggest you send it to the Ombudsman at the same time as complaining to other people…
Richard white says
Great,will do,thanks,im utterly bemused at how an empty income and affordability,(according to the rejection email) is fine and dandy and all checks were made and affordable despite clear evidence being sent proving that as utter lies! Fuming! Not about money but the total disregard and contempt for those claiming genuine claims against them,disgusting bunch and my rants are going regular on trustpilot,appreciate it sara,keep up the great work! I salute you
Bob says
Hi, just fired off my last 4 complaints. Straight away 3 are asking for the usual bank statements and pay slips. I will only send these to the ombudsman. I’ve already won a lot of cases and these have been deleted off my credit file so if the new claims check this it doesn’t show as my loans that I had. Will they have their own credit report on me at the time of taking the loans out? I’ve asked for sars on the new complaints but nothing received yet
Sara (Debt Camel) says
who are the lenders? how many loans did you have from them?
Bob says
Myjar 2 loans – £2200 and £2000
Peachy 5 loans – all around £600 each
Everyday loans 1 loan £7000
Drafty been at £3300 since jan 17
Bob says
Drafty I pay the minimum around £240 and this frees up £64 every month
Sara (Debt Camel) says
I suggest you send Myjar & Everyday Loans your bank statements for the three months before each loan application. It is harder to win one & two loan cases.
Drafty can see your bank account I think, so no point in sending them anything.
Bob says
Ok, thank you
Al says
Hi guys, I wanted to ask for some advice, I never knew I could try to claim back money from payday lenders and only recently found out, I have now sent complaints against Satsuma, Sunny, Peachy, Safety net and PiggyBank. This is due to the fact before I took a single payday loan I was already in debt in the excess of £15000 (from mainstream loans, credit cards and overdraft). Since November 2018 till now I have had 3 loans from satsuma totalling £1500 (some still unpaid), 8 loans from sunny totalling £3100 (some still unpaid), £1600 from peachy, with 3 loans and 3 top ups (some still unpaid) safetynet which has been so much they have taken almost £1400 in just interest and piggybank 2 loans of £800. I feel very sad to se the amounts I have borrowed and my dependancy for this to survive, but I wanted to know was there any chance of getting some money back from these payday lenders? As I believe I was already in so much debt and the fact after they were lending to me all together at similar times. I was also using a lot of the loans and top ups to service existing payday loans. Any advice would be greatly appreciated, many thanks Al
Sara (Debt Camel) says
Can you say how much you currently owe to all your debts? Are you buying or renting?
Al says
Hi sara, thanks for replying back, currently I owe around £12000 to credit cards, overdrafts and mainstream loans, I owe around £3700 to payday loans but without interest, so in total around £15700. I am currently living with my parents but I pay a contribution to rent.
Scott says
Hi Al,
I’m reading between the lines and I may be wrong but have you got a gambling problem?
You may get a refund from some of your lenders and if there is still a balance, this refund will be offset against it.
However, if you are struggling to maintain your debts, I would suggest getting in contact with Stepchange to help get you in to a safe position without needing to borrow to maintain your commitments.
If gambling is at the root of your problems then get in contact with Gamcare to help you with your addiction.
There is little point in trying to sort out your current debt if you end up borrowing more in the near future to fund your habit.
Had you not made the complaints already, i would have advised you to sort out the gambling first as if there is a balance due to you, this will probably end up being gambled away.
Scott
al says
Hi Scott,
Thanks for your reply, fortunately I do not have a gambling problem. I am self employed and to maintain living costs and alongside with a long layoff I spiralled out of control, however while now I am in the process of making progress in trying to cut back in my debt, the looming interests and back to back payday loan payments are holding me back. I am left with struggling to pay the loans after I get paid.
Scott says
Hi Al,
Glad to hear you don’t have a problem with gambling and that your debt is due to other factors.
As mentioned in my previous reply, get in touch with stepchange to sort your debt into a manageable monthly payment. This will eleviate any pressure to meet your monthly payments in full. The complaints process is not a quick one.
I am not 100% sure how stepchange works with the self-employed and fixed monthly payments but I am sure Sara can advise better.
Have you looked at potential complaints against your mainstream loans and credit card?
Scott
Sara (Debt Camel) says
I suggest you talk to StepChange about a debt management plan. See https://www.stepchange.org/how-we-help/debt-management-plan.aspx.
That will get your finances into a safe place, with you only paying one affordable repayment each month. Then any refunds can be used to speed up this DMP.
If you don’t do this, you are likely to find that you have to accept some poor offers from lenders because you need the money right away. When you have a lot of debt it’s very important that you try to get bback as much as possisble,
Al says
Hi guy,
Thanks a lot for your advice and will look into setting up a DMP
Al says
Sorry guy one last question, i have cuurently stopped payments to sunny and safetynet as i can not afford to pay them, is this ok or should i make payments somehow to them, i have already lodged complaints to the mentioned lenders, thanks
Al
Sara (Debt Camel) says
You shouldn’t make payments you can’t afford. the whole point of these affordability complaints is to cut through the cycle of having to keep borrowing again.
Jacqui says
My Jar have offered me £1854 which I’ve accepted
Nick says
MyJar are being really fair to people, it seems. Last week they upheld my complaint and have waived about £2000.
Joanne Woolley says
I complained to my jar for a number of loans before and including 2015 – I don’t have the records. I asked them to send me the details if all loans- were mainly txtloan before they changed to my jar. However they only told me of one loan in 2015 and said … Please be advised that as per the regulations, we keep data up to five years to meet our legal obligations under applicable UK data protection rules and the General Data Protection Regulation, and in accordance with applicable anti-money laundering legislation.
Therefore, the records for loan(s) which were borrowed five or more years ago, may already have been deleted. In that case, the loan(s) should no longer appear on your credit file either.
Does this mean they don’t consider earlier loans? Advice please
NJG says
They said the same to me, they only started redress from 2014 even though I supplied bank statements from 2012. I took their FRL to FOS with details of loans from 2010 and they wrote to My Jar who then agreed redress from 2010
Scott says
Hi Joanne,
Even if Myjar won’t consider the loans, the FOS will.
You will obviously need details of the loans in order to show the FOS what you borrowed and also for you to work out if any offer is reasonable.
In this regard I would advise getting copies of your old bank statements for the period that you were borrowing (you will need these anyway when your complaint goes to the FOS) so you can work out what you borrowed.
If the response from Myjar is a final response, then submit your complaint to the FOS and say you borrowed roughly X amount of times and full details will follow. Then get your statements from your bank.
Scott
Sara (Debt Camel) says
good advice from Scott. You can get bank statements even if the account has been closed.
C says
I had 8 loans from txtloan. They rejected my complaint with a very generic template, some of which wasn’t even relevant to me. I went to the FOS and the adjudicator said I should be refunded the interest on all 8 loans plus statutory interest as none of them were affordable
gillian says
hi I just got email from wageday advance saying my refund would be 1590 pound but will only receive about 5p in the pound I suppose I was lucky than most as in 2018 they refunded me about 2500 without going to the fos but think if they looked into my case properly in 2018 why are they now saying I should have been refunded 1590 more I was very lucky that I found this site late 2017 as I had claims with quick quid ,payday uk and wageday all settled before they went bust ty again sara
Sara (Debt Camel) says
You may have had loans more than 6 years old? They would have rejected for a refund but now the administrators accept they should be refunded.
Chris says
Hi all
I know this has probably been asked but i cant find the specific answer im looking for.
Ive just been offered an amount from 24/7 Moneybox and i want to negotiate with them to uphold an extra 2 loans. Does anyone have any experiance with negotiating with them and if so how long for them to reply from your response asking them to renegotiate?
Im basically fairly happy with the offer but think i can bump it up a little and really need the cash, but i also need it fast and do not want to end up having to go to the fos or long it out!
So if its only going to be a day or 2 for them to reply to me (whether they uphold the extra loans or not) i will negotiate, butif they’re gonna take an extra week or so though then i will just accept!
Any help appreciated and sorry for the long post:)
Thanks in advance
Chris
JA says
Hello Chris, I managed to get more loans added to my refund but it did take a long time to get a response & they calculated and sent me the wrong refund. This was in april and now I’m still waiting on them to reply to my adjudicator after 6 weeks of no response. Make sure you calculate the refund to check yours is correct and that they add the correct statutory interest.
I’d push for extra loans 100% whether or not it takes longer – It’s money your owed and money isn’t easy to come by !
Chris says
Thanks for the response, ill certainly check the maths, at a glance it looks correct.
Unfortunately im not really in a position to go to fos as this is my 1st refund from all my claims, including ppi, and im desperate for cash.
Looks like i may have to just bite the bullet and accept, “only” talking an extra 110-150 (20% tax deducted) but unfortunately i really need it!
Does any one else have any experiance with 247 moneybox regarding negotiation response time?
Need some good news pretty fast!!
Thanks again JA:)
Sara (Debt Camel) says
Are you still making payments to the lenders you have complained to? If this is the reason you are so desperate for money, you should consiser asking to make lower affordable payments. And negative marks on your credit record will get removed if the last loan is decided to be unaffordable.
Chris says
Thanks Sara, yes ive spoke to companies i owe etc. That’s all in hand, im just pennyless atm and need a quick cash injection and this offer from 24/7 is looking like my quickest option. I’m fairly happy with the offer as when i 1st responded to them at the begining when they asked what would resolve the matter, i said “In the interest of keeping things moving quickly, refunds on loans 4 and onwards and the statutory interest.(depending on amount)”
Its just they have upheld all loans except 1-4 and 9-11 (out of 16 in total)
I see a decent chance of getting loans 4, 9, 10 & 11 upheld with fos but was going to respond to them with something like:
Thank you for investigating my complaint and for acting within the time frames set out.
I have reviewed your offer and after some consideration and looking at the loan amounts and dates, i believe that loans 4, 9, 10 & 11 could be upheld, certainly 10 & 11.
Therefore I politely ask you to uphold loans 10 and 11 and include these in your offer and I would be happy to accept.
Its just i dont want to add too much time to the whole claim when i can see how close i am on this one.
Thought it wise to ask on here for any info b4 making my descision :)
Any thoughts?
Sara (Debt Camel) says
That looks like a sensible negotiating letter.
Sara (Debt Camel) says
I am sorry but 247 Moneybox has gone into administration this afternoon. You will probably only get a small percentage of the offered payout and that may take many months. If you had accepted their offer yesterday it would have made no difference as it would have been unlikely to have been paid out in time.
Do you owe them any money on the last loan?
Chris says
Hi
I did yes, 460 was owed still but the offer i had covered it and left about the same again as final amount! Cant beleive thats another one ive missed out on and was so close too :(
Shaun says
Hi all, MyJar have comeback to me and agreed to refund the interest (plus the 8%) for 20 loans, which comes to £2195.20. They have also agreed to remove info from my credit file. Thanks Sara for your help and support! Fingers crossed I have the same luck with few outstanding.
Lisa says
Hi Shaun, how long did the process take from start to finish with MyJar? I have a current complaint with them.
Shaun says
Hi Lisa, just over 5 weeks. How long have you been waiting?
Steffy says
Hi Lisa
I’m on 6 and a half weeks but haven’t heard anything yet!
Chris says
Hello,
Had loans with quickquid and pounds to pocket. They appear to have gone under onstride, do I contact onstride or the original lenders?
Sara (Debt Camel) says
Onstride has gone under too – all brands of the same company. See https://debtcamel.co.uk/quickquid-casheuronet-administration/ for news about the administration and how you will be able to put a claim in.
JR says
Just received refund in bank of £1500 from Peachy on the last day of 2 week period they said they would pay out as I accepted their offer without going to FOS, I did not send bank statements or payslips. Happy Christmas!
I have also accepted offer of £1200 from Sunny, although I believe this is a low offer it will be paid in 30 days and they have said it will be in my bank before 24th December. Happier Christmas!
My question is now I have accepted the offer, when Sunny go into Administration (not if but when as it is inevitable) will the administrators consider the loans still showing on my credit score for redress that Sunny did not uphold as irresponsible lending? I know it could only be 5 Pence in the pound and the reason I have accepted low offer as I missed out on thousands with Wonga and QQ but just looking for clarification on how its works
Andy says
How do you know sunny will be going into administration ??
Sara (Debt Camel) says
he is guessing!
JR says
It is a guess as Sara said but its an educated guess and not pulled out of the air. My post was not to put people off but simply information on my situation and the reason I accepted a lower offer than I would possibly receive if it went to the FOS. Information from CMC who are witnessing a large increase suggests that more and more valid claims are being rejected. Add to this on average it is taking 2 – 3 weeks for FOS to reply to claims submitted via the portal requesting additional information to review. It is then taking on average 6-8 weeks (best case scenario) for adjudicator to review and suggest correct redress which then gives Sunny a couple of weeks to disagree with, this is happening on most cases so you then have to wait for Ombudsman’s decision. This will take another 6-8 weeks at best. Sunny will announce Q4 and final 2019 financial results in February and this is my estimate of when they will pull the plug, if not before.
Sara (Debt Camel) says
FWIW Sunny’s parent Elevate has an interesting decision to make. With Wonga, The Money Shop, Payday UK, Payday Express, QuickQuid, On Stride all now gone, it should be much easier for a payday lender to pick up more business and they will be able to be fussy and turn down more marginal applications. That should make for a hugely profitable business – lower advertising/cost of acquisition cost, lower default rate, lower number of complaints about new loans. They have to weigh this against the cost of paying refunds. Last man standing in the market makes a fortune…
JR says
I agree Sarah but the whole system is broken with pay day lenders simply lending to people without correct credit worthiness checks and systems in place, this has created the whole redress system causing Wonga, QuickQuid etc to go bust. Once this is all sorted out the people who require funds and apply for loans will simply be rejected therefor less people obtaining loans and less profit for Elevate operating as Sunny in the UK. If they do not remedy the process the complaints will be a constant cycle. A lot of people who use pay day lenders will have to look elsewhere but unfortunately high street banks will be unable to assist as most people who turn to this sort of high interest lending are desperate and have been refused funds from more reputable companies with lower APR. I expect a rise in DMP, IVA and bankruptcy on the horizon. Last man standing will only make a fortune if they can lend responsibly and not what these legal loan sharks rely on to make there money with high APR. Anyone who could obtain a high street bank loan would go that route and not use these companies. Its sad but the more desperate people always pay the most.
Nats says
Does anyone have any experience with piggybank? Just wondering what they’re like at handling complaints…
Andy says
I had 34 loans they accepted 23 of them I accepted payed out within 7 days
Nats says
Oh that’s good. How long did they tale to respond to your complaint? full 8 weeks? Thanks in advance!
SN says
They were good with mine, I had one left outstanding and they wrote off all the interest, leaving me with the principal of £600 to pay. We have agreed a payment schedule I can afford and I managed to get them to agree to remove adverse information from my credit report. No money back but it’s a start of me getting back on track and improve my dire credit score!
Steffy says
Hi!
They took 6 and a half weeks to get back to me and upheld 6/8 loans so my total redress is £992 which isn’t too bad! Now to wait and see how long till the payment comes back. Thinking about it now I should have challenged one they rejected as in the email they said they knew it wasn’t affordable…(weird) but didn’t want to cause any delays for payout
Good luck!
Nats says
Oh great! well done! x
Sharper says
Just to give everyone a timescale with Satsuma.
The adjudicator picked up and partially upheld my complaint at the end of August. Satsuma continuously missed the deadlines so I requested for it be passed to the ombudsman. I rang Satsuma a couple of times to attempt to push them along and they finally agreed with adjudicators decision yesterday.
Sara (Debt Camel) says
Good news!
Turtle says
WDA Email this week;
You are therefore a creditor of CTL with an agreed claim against CTL. Payments to creditors are expected to be made in early 2020, on or before 31 May 2020. However please note that CTL will not be able to pay your claim in full: we estimate that a dividend of between 4.5 and 5.2 pence in the pound will be payable to creditors, and we will confirm the precise amount that you will receive when the dividend is paid to you.
I have contacted KPMG for over 6 months trying to get a detailed list on loans and interest paid as my redress is less than it should be imo. Anyway, I’ve had no answers whatsoever from KPMG. Abysmal service.
M says
Similar situation. Adjudicator partially upheld my complaint on 2 out of 3 loans back in August and a number of deadlines to respond were missed so it ended up being sent to the Ombudsman queue. The business have now agreed with the adjudicators decision so another complaint has reached a happy, albeit lengthy, conclusion.
Sara (Debt Camel) says
which lender was this?
Laura says
Hello,
How do you know if you were taxed on the refund? I have a refund from sunny and no mention of tax and one from quickquid where it was mentioned. I’m on maternity so under tax threshold can that be claimed back? I’ve read the page but bit confused
Sara (Debt Camel) says
You can ask Sunny if they deducted tax. If your email from QuickQuid mentioned a deduction for tax, you can reclaim that.
Dean says
Hi all,
Update on Satsuma for all those asking on here:
II eventually got a resolution to my my complaint 12 weekday after putting it in and literally 2 days after submitting it to the FOS(haven’ Even had a reply from them yet other than generic response).
Satsuma upheld my complaint, removed rest of my last loan, and I received a cheque from them today for over 2k, couldn’t be happier!
Wouldn’t have known to complain if it wasn’t for this blog by Sara so than you again so much and guys don’t give up!
Also got redress from Sunny who partially upheld my complaint and paid back just over £1600 which I accepted although potentially could have received more if it went to FOS but happy with what I got from them tbh.’
Awaiting FOS decision on LS but like most on here, missed out with Wonga, wage day advance, payday UK and QQ because of them going into Admin and that’s why I had made the decision to accept a very low redress payment from UB of just over £400, but overall happy as received more than £4000 in redress payments which I would never have known about if it wasn’t for Sara and her blog.
Ann says
Hi a bit of advice Please.I had 11 loans from sunny in 20 weeks total of £679 in interest I’ve paid I borrowed 1700 it’s been to adjudicator and he says loan 4 to 11 to be refunded Sunny got back to him and offered loans 7 to 11 a total of £203 I’m not happy with this do you think i should go to ombudsman or what should I do and is I taking months a wee bit of advice please xx
Sara (Debt Camel) says
how much interest did you pay on loans 4,5 and 6?
Ann says
Hi thanks it around £100 in total not a lot but a lot to me right now
Sara (Debt Camel) says
So you can take £203 now or wait possibly a couple of months to see if the ombudsman agrees with the adjudicator (they do in 90% of cases!) and you get the extra money. It’s a difficult choice.
Ann says
Hi Sara
Ok thanks bearing In mind I had defaults on my credit file plus lots of gambling transactions on my bank statement I had another 3 payday loans With other companies when they issued 456 plus I just don’t know
Could the ombudsman offer more than the adjudicator does that happen very often?
Sara (Debt Camel) says
yes that can happen. The ombudsman can come up with a slightly different award, saying 3-11 or 5-11. What the ombudsman usually does in this sort of case is say “Sunny has agreed to refund 7-11, so that is decided and I will look at loans 1-6.”
To be clear:
– you are likely to get more if you wait for an ombudsman decision. How much more is uncertain but you won’t get less than Sunny have offered.
– I can’t say how long this will take. Timescales had got very long but now seem faster so I said a couple of months. It could be more or less.
– the advantage of taking the current offer is that you get the money now and it is all sorted.
– there is a chance that Sunny will go under at some point and then you would get less if your case was still waiting for an Ombudsman. I’m not saying that is likely, I can’t guess.
Ann says
Ok thank so much I put a comment on trust pilot and sent manager a email I’m not sure what to do £204 is £204 and better than nothing and it would come in handy right now I will have a think today and email adjudicator Back Do think they can go bust Thank you so much for your help
Sara (Debt Camel) says
yes it’s possible. I’m not saying it’s likely, I simply don’t know.
Ann says
Thanks I’ve just sent email to accept this offer due to what has happened today with money box 24/7 £204 is better than nothing x
H says
Still waiting on avant getting back to me on redress figures. I’ve been waiting a week. Anyone else have experience with this?
Jamie says
Hi all, my adjudicator has given Safety Net Credit two weeks to respond to them, they have said SNC should give me a refund. Has anyone had any experience with them following the adjudicator stage? Do the reply quick? Do they tend to agree with the judgement?
Cheers
Dave says
Good afternoon, can I ask when you put in your complaint about SafetyNet to FOS? I submitted mine in January and keep getting told it’s waiting for an Adjudicator because it’s different from a ‘normal’ payday loan.
Steve says
Hi E
I just checked my online banking it’s literally just gone into my account so hopefully yours should of too. Having way more success than I thought I would I have only had to send 3 to the FOS, likely loans, Ferratum and drafty. Had some refunds a lot more than I expected already had back close to £5000. My biggest chain is with Ferratum very confident the FOS will find in my favour.
Steve
E says
Mine went in about half an hour after my last post. Just Lending Stream left and then that’s all mine done
Sarah says
Mine has just gone into my account too thanks for all the advice from everyone and especially sara who started all this as I didn’t know you could even claim this money back. Good luck to all who are still waiting.
darren maj says
Piggybank have agreed to pay my loan + interest back £406 total after they agreed i was a victim of irresponsible lending. Happy Days
Sara (Debt Camel) says
BAD NEWS FOR ANYONE WITH 247 Moneybox LOANS
They went into administration this afternoon.
Unless your payment has is already in transit through the banking system, it is probably now not going to get paid.
Anyone with a complaint at FOS is now not going to get that decided as the complaint will be returned to the administrators to settle.
If anyone has a complaint and still owes a balance on their last loan, reply to this comment – it is possible you may be best off by not maying the balance.
Livia says
Oh my god I can’t believe the just sent me an email yesterday saying they would pay my refund with 7 days . I can’t believe just lost £700.
Sara (Debt Camel) says
There are no announcements from the administrators yet, but I am going on what has happened in other administrations.
SN says
I have a complaint with them and the 8 weeks is up a week on Wednesday :( hope for the best!
Laura says
Hi
What if you had a precious complaint denied by the company? I missed out on escalating to the FOS as I had so many other complaints going on and lost track? Will the administrators look in to previously rejected complaints?
Sara (Debt Camel) says
That may happen. It will be up to the administrators how that assess any claims made.
Joseph says
They’re dropping like flies, it’s great!! But I do feel for people owed money, feels like an easy way out
JA says
Well I do feel very sorry for anyone who hadn’t received there redress. This explains why they’ve not replied to my adjudicator for weeks about the incorrect amount paid to me.
Chris says
There’s a surprise. 8 days ago I accepted their offer of £4960. Phoned them this morning and was told my payment is being processed. Obviously a lie to get me off the phone and I’ll never see it. That’s me owed £23000 between Wonga, Quick Quid & 247 Moneybox 😔
Chris S says
Feel for ya mate, i keep missing out too! Let us know if you receive your money or not, hopefully its in tranait, fingers crossed pal.
H says
I had accepted an offer at the beginning of the week. To be fair th redress was not enough to cover the defaulted balance but they offered to clear outstanding balance as a goodwill gesture. I accepted this on wednesday and on checking the account balance this morning the loan balance had been cleared. Fingers crossed the monies in transit will make it to tour accounts. I’m pleased now I didn’t escalate for more redress as it looks like i no longer am left with this loan.
I contacted AC this morning as I have still not received figures for redress, they told me I would recieve the figures and money due within 30 days from 22/11. I’m now hoping this comes in quick before AC go down the pan too. A fair bit of money I’d lose out on
Alyss says
Hi Sarah,
I have two claims 1 with uncle buck and one with cashasap. The FOS adjudicator has agreed with me and loans 4-17 shouldn’t have been given and to refund me the usual but they had till the 27th NOV and I’ve heard nothing what do I do and of they agree how long does it take to payout my claim??
Uncle buck is with the FOS they asked for bank statements and a credit report that was a on the 10th Nov and have not heard anything since so was wondering how long it takes them to make a decision??
Any help would be much appreciated
Mary says
I’ve read this on the 247moneybox website:
Those customers with complaints (whether on grounds of affordability or other) should continue to approach the Company in administration. Any such claim will be treated as an unsecured creditor claim.
What does this mean for me? I submitted a claim and was awaiting a final response.
Sara (Debt Camel) says
Until the administrators give more details, I am guessing based on what has happened when other payday lenders go under.
So I expect:
– no more work will be done on your complaint, you won’t get a reply by 8 weeks and you can’t send it to to the Financial Ombudsman at 8 weeks.
– instead it is likely to be treated as a Claim to the administrators.
– I don’t know how the administrators will assess this Claim. But you should expect that if they agree with it your will only get a SMALL PERCENTAGE of the refund amount you would normally have received as there won’t be enough money to pay everyone in full.
Do you still owe them money on your last loan or has it been repaid?
Chris says
Hey guys I had about 30 PDLs over 22 months. From sunny/myjar. Totalling about 10-11k. If they refuse my complaint I am concerned that the fco will also refuse If I hand over bank statements as I used portions of the money to repay other loans but also to feed my gambling habit (over a year clean now). Any advice on if I am out of luck trying.
Sara (Debt Camel) says
Send your complaints in now! After you had borrowed a few times a Lender should have looked closely when you kept making more applications. If they had done this they would have seen your gambling problems and stopped lending. So gambling helps your case when you have borrowed repeatedly from the same lender.
Iain123 says
The Financial Ombudsman Service won’t refuse, you have a great case. No responsible lender will loan to a gambler. Congrats on one year clean.
Chris says
Thank you Sara and Iain123 I really gives me hope. It wasn’t easy to break the cycle. no one was more disgusted with me than myself. I will keep you guys updated if I get a reply. Thank you again
Lisa G says
An update on my Satsuma case. After Satsuma pretty much ignored my adjudicator decision (they had until 30/07 to reply), my case was sent to the ombudsman queue on 4/11.
I called the FOS yesterday and they informed me that the day before (28/11) the ombudsman ruled the same as the adjudicator and wrote to Satsuma at 14:30 that afternoon. I was told my case with the ombudsman has now been closed. I’m yet to receive the email, it might come as a letter, so I’ll wait a week and chase it. I called Satsuma to see if they’d received the ombudsman decision and they said it can take up to a week to be linked with my complaint / account.
My question is; has anyone else has dealings like this with Satsuma? How long did you wait for them to contact you? Or did you contact them? Do they pay by cheque like provident? Or is it a bank transfer? And lastly, do they wait 28 days or is it quicker?
My provident complaint (after adjudicator decision but no response from Provident) has been in the ombudsman queue since 25/11. I called provident and was told it was with a case handler and they have been told by FOS to respond by 09/12 and they are on track for that, which was news to me, but I’m happy with that.
Cazza says
Has anyone had any success with Lending Stream without having to contact the FOS
Joseph says
Very unlikely from what I’ve seen on here over the months, it’s like they have an ‘wait-8-weeks-then-auto-reject’ machine
Mike_p says
I don’t remember anyone reporting getting an offer from them without contacting the FOS. My rejection letter read very much like an auto generated response.
Iain123 says
PAID OUT BY SUNNY, AT LAST!!!
Here’s the breakdown…
Sept 2018. Used the template here to complain about my borrowing from 2013.
Oct 2018. Sunny rejected my complaint.
Oct 2018. Complained to FOS enclosing bank statements and final response from Sunny.
7th Oct 2019. Chased FOS for update.
8th Oct 2019. FOS Adjudicator response finding for me against Sunny. (obviously not a coincidence, I shouldn’t have let my complaint sit with the FOS for one year without pressing them).
11th Nov 2019. Sunny responded through my Adjudicator offering from loan 7-50. I rejected this as I despise these payday loan bastards and want every penny, on principle – accepting they may go into administration. Also learned there had been some back and forth between my Adjudicator and Sunny around settlement.
13th Nov 2019. Sunny increased offer, from loan 2, around 20% extra. I accepted. Adjudicator gave them 4 weeks to settle.
29th Nov 2019. Money in bank. Nothing to sign or request for bank details. All over.
Sara (Debt Camel) says
Well done!
Amy says
Wish they’d get a move on with mine, accepted an offer and now on day 21 so they have 9 days to pay me. Not sure what to do if they go over the promised 30 days
Carol says
Is it the interest you get back plus 8% ? Many thanks
Scott says
Hi Carol,
Yes it’s the interest you have paid plus 8% simple interest per year on that.
For example if you had paid £100 in November 17, you would get £100 plus £8 for each year since you paid it – so £100 plus £8 plus £8 = £116
Scott
Michael84 says
Hi,
I have a default on my credit file for £1001 from payday express dated 20th June 2014. It’s preventing me from getting a mortgage.
At the time I was rolling the loans in order to make it to the next month and 100% didn’t meet affordability criteria.
I understand they now gone bust so repayment on interest is out of the window, but is there a way of removing the default from my credit file?
Thanks
Michael
Sara (Debt Camel) says
You will need to send in a Claim here https://www.themoneyshop.com/Claim and if the loans are decided to be unaffordable the default will be removed. this may take a while… It will drop off anyway by next June.
Paul Wakeman says
Need some advice please. Have just got home and have received a letter from Loans At Home with regards to my complaint. They are asking for my bank statements from Nov 17-Mar 19 so they can get a better understanding of my financial situation! With my original complaint I sent a copy of my Credit File which shows numerous PDLs, Judgment Debts and Defaults! FOS already have my statements for the period mentioned due to other complaints. These statements show numerous payments to creditors at the time including Lending Stream, 247 MoneyBox, PiggyBank, Amigo, BrightHouse as well as others. My question here is should I send them or just go back to them and tell them my financial situation is pretty obvious just from looking at my Credit File! Thanks.
Lisa G says
Personally I’d say if you have them, send them. They might give you a sensible offer of redress without having to queue for the FOS, which for some of mine submitted in Oct 2018 are still waiting to be / have only just been looked at.
But that’s just my personal opinion.
Paul Wakeman says
Am that used to sending complaints off to the FOS I didn’t even think about being made an offer 😂 Thanks for the advice though, will send it all off tomorrow.
Litahash says
Hi, I have started a complaint to Lending Stream. They have sent through my loan details for the last 2 years, they have not stated whether they uphold my complaint or not – what do I say to them now? Thanks
Scott says
Hi Litahash,
What did you say to them in your original letter and when did you write to them? If it was the first template letter above, send second letter.
They have 8 weeks to give a final decision to your complaint. Go through your list of loans and calculate what you have paid in interest so you know whether any offer is reasonable or not.
Previous comments suggest that you will more or likely end up having to take your complaint to the FOS. Do this as soon as you either have a final response or 8 weeks have passed since you first complained.
Good luck
Scott
Emma says
Hi Sara.
Have 247 moneybox gone into administration? Was just about to send them a complaint email!
Thanks,
Emma
Scott says
Hi Emma,
They went into administration on 29/11
The administrators should still accept complaints and if they agree the loans were unaffordable then you will become an unsecured creditor.
Any refund will be a small percentage of what you could have got.
Scott
Emma says
Thanks Scott.
Not expecting much anyway so will now just wait and see if they contact me. Thank you!
P says
Best news I’ve heard today – this company was totally unscrupulous back in the early 2010’s in dealing with customers. Then when forced in to complying with regulatory changes that FCA introduced their customer service for years struggled to cope with lack of leadership. Redress payments etc were always sporadic
sam says
Hey all!
whats the chances lending stream will be going out of business next?
I have a complaint against them which the fos has just picked up and now worrying after business by business they are all going!
would anyone know?
thanks
sam
E says
I hope not! My adjudicator ruled in my favour and I’ve been waiting 4 weeks now for Lending Stream to agree or disagree with the decision.
sam says
how long did it take for the adjudicator to pick up your case, reply and then make a decision?
Emma says
Hi sam, sent my complaint to FOS 14th sept, heard that it had been assigned 25th oct and decision reached a week later. Lending stream are dragging it out now though
Sam says
yours only took a week to reach a decision, that’s quick! mines been with the fos for 3 weeks already with no reply
Nick says
Hi Sara
I have just received my decision from Sunny (3 days before 8 week deadline). They have rejected my complaint, but ‘as a gesture of goodwill’ have agreed to write off the remaining balance of approx £570 on my account. (I have had 49 loans from them & apparently repaid a total of £14K since 2014 (scary figure!).
As I have had a decision in pretty much the same circumstances upheld by MyJar, and also have had redress agreed by the Administrators of Wonga & Wage Day Advance, I am still sure that I have a justifiable complaint, & now intend to send my case to the FOS.
What I’m wondering is, as they have stated that they are going to write off the remaining balance, and they do NOT state that this is conditional upon me not taking my claim any further (they have not asked me to reply or accept their ‘offer’ or sign a settlement document), should wait until I can see that they’ve written off the balance, or should I send it to the FOS straight away?
I’ve also noticed on here a few people have contacted the MD of Sunny/Elevate Credit before sending to the FOS, and have had the original rejection overturned. Is this worth doing or do you think that it may result in the small balance NOT being waived as agreed?
Iain123 says
‘Goodwill’. Ha! How much of the £14K was interest? If it was a couple of thousand then £570 isn’t worth it. If they go into administration they’ll wipe the 570 anyway. May as well go to the Financial Ombudsman with your complaint, you have nothing to lose.
Nick says
Yes, I worked out that around £3K was interest! Agree, nothing to lose by going to the FOS & just keeping my fingers crossed that they don’t go into Admin. To be honest I wish that I’d complained sooner – it was only my Wonga redress (got granted over £2K but well aware that I won’t get a fraction of that) which made me realise that I have a valid case.
Shaun says
Hi all, anyone know what percentage Wonga will pay out? I’m owed about £2,000 but wondering if I’ll get 5%, 10% or what?
Scott says
Hi Shaun,
There is no word as yet regarding percentage.
For the latest comments and news regarding Wonga, see Sara’s other page
https://debtcamel.co.uk/wonga-has-stopped-issuing-loans/
Scott
Mark says
Mobile Money
I have just received a reply from them regarding the complaint I sent them just under 8 weeks ago. I had 20 loans from them over 10-11 years 2008-2019, and paid something in the region of 17k interest and fees.
They have replied saying anything over 6 years they wont take into consideration, and they have offered me £2900.
No breakdown of the offer, simply saying they will look at loans 11-20, no sign of 8 % interest etc.
Where £2900 is lovely this close to xmas etc, I am favouring the Ombudsman.
Any thoughts would be much appreciated.
Thanks
Sara (Debt Camel) says
It sounds unlikely that is all the interest on 6 years of loans… do you know how much interest you paid on loans 11-20?
Mark says
Just under 9k of interest on loans 11-20
mark says
Morning.
I was offered £2900 as an initial offer. I rejected and have now received a final offer of £3600 including the 8% interest.
I am going to reject is my thought. Any advice please ?
mark says
Had another email off these . They really don’t want it going to the ombudsman. It’s being passed to senior management now and they’ll come back to me within a week.
Interest paid on loans they’ll admit to being wrong is £5800 and the 8% interest takes it to £7400.
They’ve offered me £2900 and then £3600 which I rejected both. See what comes back next week.
There’s more that are over 6 years old stretching back to 10 years that they won’t look at.
Sara (Debt Camel) says
It’s really hard to see how they can not pay you the interest plus 8% on the loan they admit to have been wrong!
mark says
Exactly. I think they must think I’m desperate for the money and will take any offer that comes! I am of course!!! But,,, see what happens next week
david says
Hi,
Does anyone have any experience of getting a refund from Safetynet Credit?
I sent a complaint in Sept 2018, they rejected it so sent it to FOS. After over a years wait the adjudicator has got back to me finding 100% in my favour. Took out over 60 loans/lines of credit with them over 18 months.
Adjudicator has given them til 12th Dec to make an offer otherwise it will go to ombudsman.
Has anyone had a similar outcome? Did SNC agree to findings? Did you find they made a reasonable offer?
Thanks
kim hunter says
Hi The FOS agreed mine 100% in my favour with Safety Net a few months back and they paid it in full with 8% interest within a week, I rang them up after I had signed the agreed amount declaration and they told me what the payment date would be. My husbands has now been with the FOS for 11 months and still waiting to be looked at. good Luck.
Jo says
Hi David,
I’ve literally just had a direct response from Safetynet Credit after I complained to them on 19th November. My current outstanding balance is over £1200. They agreed that the lending was unaffordable and have redressed my interest on what I have paid, plus statutory interest (only about £12), and also removed the interest from the remaining balance. This has left me with a balance of around £580 – less than half what I thought I was going to have to pay back. They’ve also agreed to an affordable repayment plan. Such a huge weight having this lifted and no longer panicking how I’m going to keep up with the repayments.
If your adjudicator has upheld the complaint, I would aim for a redress on the interest you’ve paid plus the 8% statutory. Good luck!
Calum says
Dear all,
I would like to share a few of my current successes. To Sara and the team all i can say is what a wonderful tool and website and i know i wont be the first but Thank you 😁.
I am now Payday Loan free! This time last year i had 10 Payday Loans running at the same time alot of which were in payment arrangements. At once i had Ferratum, Lending Stream, Piggybank, Uncle Buck, Cashasap, Moneyboat, Sunny, Satsuma, Mr Lender and SNC all with varying borrowing amounts.
With the exception of Uncle Buck and Lending Stream i have managed to have all removed from my credit file and any outstanding loan amounts completed wiped off my records.
Uncle Buck and Lending Stream from my experience i find have been very rude and very unwilling to help. Lending Stream took an unauthorised payment from my account which i am still currently chasing!! Very slow and unapologetic.
To anybody out there who is at the end of their tether or is looking to throw in the towel, DONT! Keep at it, keep emails and phonecalls coming but one thing i would say is be polite and any evidence(i used my redundancy letter) as a tool to helping me on the way out of Payday hell.
Good luck to everybody still waiting responses they will come 😁😁
Holly says
That’s great I am in the same situation Actually I have called them twice already maybe I should call again.
Sara (Debt Camel) says
Not sure who you were replying to? If you hit the “reply” under a comment, your reply goes directly to that comment.
Holly says
Hi Sara I’m not sure if this Apply’s to me but their agreement with me was to just pay an outstanding smaller balance and wipe the interest
Paula says
Today is my 2 week deadline for Lending Stream response to the adjudicator. Worked out I should get between £7K and £8K which would be a lovely way to start the new year! Not holding my breath I will hear back today though.
Emma says
I’m on my fourth week waiting for them to respond to adjudicator despite chasing adjudicator and lending stream.
Paula says
Unsurprisingly no response. I have emailed my adjudicator. Is it worth putting a bad review on Trust Pilot?
Sara (Debt Camel) says
Yes it is!
Emma says
I left a bad review on Trustpilot 2 weeks ago – it did nothing. I have found they respond if you message them via your account. I messaged 2 weeks ago and they responded straight away saying they would need an extra week. That came and went so I messaged them again earlier from account and they replied saying they are looking at it now and will respond to adjudicator by tomorrow. Just don’t believe anything they say
Paula says
I have left a bad review and also messaged through my account. As you say probably won’t make any difference. Shocked at how many great reviews they have and sceptical about how many are genuine!
Emma says
Congrats on your redress x I finally heard back from FOS who have allocated me a new adjudicator who has given lending stream another 2 weeks which will be over 6 weeks in total despite lending stream telling me yesterday I’d have an answer today.
Paula says
Thanks. Very frustrating that some are dealt with quicker than others. I hope you hear back soon x
alyss says
im still awaiting a response from cash asap about the FOS decision they had until the 27th Nov and heard nothing what do i do? cash asap not answering phones or emails?
Sara (Debt Camel) says
Leave them a bad review on Trust Pilot: https://uk.trustpilot.com/review/cashasap.co.uk
That sometimes kicks a firm into action!
alyss says
Thanks Sara,
will try that and see
alyss says
Hi sara,
still no word and when i rung up day i got told to get a email and my call will be logged.
its been nearly a week since the deadline and they still have not got into contact why is this? and has anyone had the same problems with cashasap???
H says
Have to say best company I’ve dealt with so far is safety net credit. Put my initial complaint in on the 22/11 and they have upheld my complaint and have asked for details to refund interest.
Still awaiting avant getting back to me with figures of my redress after accepting my complaint a fortnight ago. Emailed today to ask when the figures would be available she said oh I’m sorry your account has been passed onto another team, when I asked if she could then give me the details of the other team she said there are no details available. So frustrating!!
I’ve also had a success with 247 money box who upheld 2 of my loans which didn’t quite cover my outstanding balance but they offered to clear my outstanding balance which I accepted thankfully. The morning they went into administration my balance had been cleared.
Many thanks sara
Gemma says
Hi,
Thank you Sara for this website.
I have to agree with H and say SNC has by far been the best.
After putting my complaint in 3 weeks ago they have came back upholding my complaint and says they I shall receive my refund within 1 week.
I had rolling loans them around 7 months, had a balance of £800 and with the £933 I have paid in interest, they are closing of the loan and sending me the difference.
No hassle.
Uncle buck seem to be the difficult ones and came back with a straight no pretty much. They said I must of lied about my outgoings and that it is fraud. Assuming a scare tactic.
I’ve read people don’t include payday loans as monthly outgoings and also people do omit their expenditure as clearly need the money.
Anyway still got complaints going through with my jar, lending stream and mr lender.
Good luck everyone!
Sara (Debt Camel) says
Yes UB say this to most people, it is as you say just a scare tactic. See https://debtcamel.co.uk/payday-lender-says-lied/.
Gemma says
Thank you!
Dan says
So i had a complaint rejected by 247moneybox 2 weeks ago. I told them wasnt happy and said would send to FOS. Now i saw that they went into administration a few days ago but they have just mailed to ask for bank statements so they can have another look at the complaint- why would they do this if theyre in administration? Iss theerree a chance illl gett refund iff they’re asking
Scott says
Hi Dan,
They may just be going through the motions until the Administrators decide how the complaints will be dealt with going forward.
Sorry but there is absolutely no chance that you will receive a refund in full. If any of your loans are considered unaffordable, you will become an unsecured creditor and receive a small proportion of any refund due.
Scott
Jackson Rice says
Could I have your opinions… I successfully claimed with Wonga and Amigo loans and have a claim going through the financial ombudsman for Elevate (Payday loans/express)
Elevate initially refused my claim saying I could afford the loans but on the basis these other two have agreed to wrongful selling do you think I will be successful with them too?
With regards to all these claims has anybody got a view or evidence that the loans will be removed from our credit files?
Tracy says
Hi Elevate/sunny refused mine I went to the FO and they upheld all bar 2, only 3 of which they said were unaffordable? So those 3 were removed from my credit file. I’d always go as far as you can with complaints. Sara’s website has helped so much, I can’t thank her enough
Jackson says
Thank for the reply – so how many loans did you have in total with Elevate? And how long did the FO take to respond and then eventually have the loans removed from your file?
I’m in a much better place financially now and looking to get a mortgage to the cleaner my file the better.
Thanks again
Tracy says
SNAP! I had 9 with Sunny, the FO did take a long time, took Sunny about six weeks to refuse I sent it to FO in July 18, it went to an adjudicator in May this year. She was great though and Sunny came back to her with a lower offer. She phoned me and said don’t accept it, stood her ground and I got 3.2K back from them. Their loans were always over six months to a year so much more interest. Interestingly they didn’t initially remove anything from my credit file, I raised complaints with ClearScore and credit karma (Noddle). took about 6 weeks, ClearScore said sunny didn’t communicate with them so they removed ALL 9 from that credit report. Credit Karma said sunny did communicate and provided evidence of the FO decision and only removed the 3 latest loans. Either way it left me in a better place. Keep going and good luck
H says
Here we go with lending stream. Wish me luck. I have been successful so far and all loans taken out pre lending stream so they really shouldn’t be able to say no!!
E says
Good luck x I haven’t see anyone state they have had Lending Stream uphold their complaint without it having to go to FOS. Keep us updated x
H says
I shall let you all.know how I get on. I’m not holding my breath that it will be easy
Mike_p says
Lending Stream seem to have a standard approach of rejecting the intial complant and then agreeing with the adjudicator- I haven’t seen anyone report anything different to this. They are one of the worst to deal with unfortunately and will delay everything as much as they can.
Paula says
Got an email from Lending Stream saying they have responded to FOS but cannot process payment until I accept through FOS. Assuming this means they agreed with the adjudicator? Might be it was later this evening therefore I would hear tomorrow?
Shaun says
Top tip: when a payday lender asks you to confirm your bank details by filling in a form do so and also send a bank statement confirming the details with it. I’ve had lenders say they couldn’t confirm my bank details from the form even though my handwriting is extremely clear.
Chris says
Can anyone help? Got an email from Satsuma this morning saying they are upholding 1 loan and paying redress of £201 but have not upheld my other 14 loans. They said I will receive a cheque within 7 days and if I disagree with their decision contact the FOS. Do I receive redress for the 1 loan even if I escalate the other 14 to the FOS?
Sara (Debt Camel) says
It sounds like it!
Darren says
Not to go against the advice you already had, but I had this happen with Satsuma, then when I went to the ombudsman with the other loans, they advised that as I cashed the cheque, that is me accepting their decision in full, if I wasn’t happy, then I shouldn’t have cashed the cheque.
It went to an actual ombudsman as well who agreed with that decision, so I wouldn’t cash it.
I completely understand where the ombudsman came from with it, I couldn’t really argue.
Sara (Debt Camel) says
OK, so go back to Satsuma and ask if it’s OK to cash the cheque even though you will be sending the complaint to FOS.
Chris says
I will contact them and see what the say but get it in writing incase they try and trick me
Chris says
Think I will just sit the cheque in a drawer when it arrives as I paid about 5k total in interest on the other 14 loans. I’ve already lost out on thousands with companies going into administration. Don’t want to be losing more!
Paul Wakeman says
You couldn’t make it up! This morning I’ve received an email from a company called Lantern chasing payment of £288 that I owe to Lending Stream!! First I’ve heard of Lantern so have told them to go back to their incompetent client as Lending Stream actually refunded me (following an FOS decision) on 03rd October a lot more than £288!!
Scott says
Hi Paul,
Just check your settlement figure.
Away back in 2016 when I dealt with LS, they paid me out but didn’t offset the balance that had been transferred and I had to contact DCA to settle as they would not take the account back.
Scott
Paul Wakeman says
Thanks Scott. I’ve checked the figures and everything is fine. I just find the incompetence laughable as LS had to get the debt back from Credit Resource Solutions, pay me a redress and amend my Credit File and then to get an email this morning from a different DCA for what was the same debt is beyond belief. Still, Email has been sent to Lantern advising them to go back to LS. Can’t wait for the next instalment!
Paula says
Got my confirmation email from FOS with a refund of £6,888. Have sent an acceptance to both them and reconfirmed to Lending Stream. What a nice Christmas present :)
Scott says
Hi Paula,
Congratulations, nice bonus to receive at this time of year.
Not to put a damper on it but please don’t get your hopes up that you will receive it before Xmas.
Hopefully you will but other comments suggest not.
Scott
Paula says
Thanks! I don’t expect it before Christmas and I am in no way relying on it, but a nice bonus :)
Paula says
I didn’t get an agreement to sign, my email to FOS was taken as the agreement. Is that right?
Scott says
Hi Paula,
That should be sufficient but I would just give your Adjudicator a quick call to confirm.
I would also confirm bank details where you want the money paid, LS will want this confirmed anyway so it may save time.
Scott
Colin Brown says
Getting an acceptance is nowhere near getting your money sadly Paula.
They will probably go bust before you get your money back.
Paula says
Wow. Thanks. Given they are still lending, I would assume they won’t. At least I hope they don’t.
alyss says
it seems that these lenders just want to ignore the situations?
once i put my bad review onto cashasap another excellent review was posted a few hours later.
still awaiting word from cashasap and uncle buck and cash4unow is dragging there heels. awaiting my satsuma to be allocated to someone still after submitting this in April 2019.
knowing my luck these lot will be the next to go into administration as wage day advance owed me £284 and im going to get 4.8 pence to the pound not even £50 back.
Andy says
I would chase the satsuma one up as I sent it too the ombudsman last month and they have already picked it up I’m guessing as they got back to me asking for final response
Laura says
Hello, I’m having trouble with casheuronet supplying my the information on the tax on interest so i can claim
It back. I got my refund in April but everytime I email
It’s a reply from some sort of credit record removal department saying it will be actioned. But given I’m. 8 months down the line I doubt it, should I contact the ombudsman who made final decision?
Sara (Debt Camel) says
Well you could do, but I doubt there is anything the Ombudsman can do. Is it a lot of money?
Laura says
Hi Sara
£418 was the tax. As I’m on maternity leave it’s the only financial year I am under threshold
Adam says
Finally had a response from the adjudicator agreeing in my favour against SNC saying they should have never given me the credit facility in the first place.
What are SNC like to deal with at this stage?
kim hunter says
Once I had this response from the adjudicator Safety Net agreed with the decision I had to sign an agreement from from FOS by email and once received by SNC I rsng them to see when paymen would be made (They said its usually on a Fridau I think) I had just missed that weeks payments so I got it within 7 days.
Adam says
How long did SNC take to reply to the decision? Did they do it within the timeframe?
Thanks for your reply
JN says
How long did SNC take to reply to the adjudicator? Was it in the 14days?
kim hunter says
Hi All together about 7 working days as it was a Thursday and too late to put it on the payment run for Friday but I did ring them and ask so it may have quickened the process up. Make sure you sign the agreement off the FOS straight away and send it straight back, I did it the same day.
JN says
7 working days from when?
kim hunter says
7 days from the letter telling SNC what they think they should refund me and me agreeing to it.
Alyss says
I’ve just put in a compaint to SNC as I paid over 20 loans back. I had at the time a debt plan payments going out plus about 6 other payday loan repayments each month plus 2 credit cards and debt collectors I’m hoping they will accept my complaint.