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:
- 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, Everyday lonas, Likely Loans/Finio, Reevo, 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.
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;
- some 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 instalment 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 free and 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 2018, 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 2024 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
- if you dont have the credit agreements, 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 FOS 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?
Dennis says
Hi all, I’ve received my final response from SNC where they said they will clear my remaining balance with them but that’s it. I don’t think that’s fair because I paid over 1000 interest for about a year. I sent SNC back an email saying I wasn’t happy and refund me all my interest not sure of that will happy me. What should I do. Any help will be much appreciated
Nick says
I have just had my refund from Lending Stream (£3900). Day 20. They sent an email & it was in my account when I checked.
No tax deduction certificate was sent though, so I’m going to have to email them to ask for one, in order to claim a refund from HMRC.
Once the complaint got to the FOS, it was handled promptly at all times, deadlines were adhered to & I am very satisfied with the outcome.
Just waiting on an Avant credit complaint now, but the FOS seem to be much slower in dealing with those!
Sara (Debt Camel) says
Do you know how much tax they withheld? if you do, you don’t normally need a “certificate”.
Sara says
Advice needed please 🙈
SafetyNet and Amigo both rejected my complaints today :(
My question is about safetynet as I had already send my amigo complaint to the FOS at 8 weeks.
When my safetynet account was opened, my partner at the time who controlled all the finances, as I didn’t work at the time, was the one who created it but in my name. All of the employment details and income was his.
This relationship was very controlling, and I was very young with our first child, and it was pretty much decided by him and I had to deal.
He used his contact details and employment details, but surely this should have flagged up on a search?
My question is… should I send it to the FOS or not because I’m worried I’ll get into trouble. He used my bank accounts for his mother to transfer his wages (he didn’t have a bank account) but I had no control over our finances. All I remember about this 2 year period was constant lending, and borrowing from multiple loan companies at the same time.
Do I stand a chance?
Sara (Debt Camel) says
How long did you have the SNC account for?
Sara says
For two years.
Sara (Debt Camel) says
In that case i think you should send it to the Ombudsman. That is a long while. SNC should have realised that you were dependent on the borrowing.
just explain the relationship to FOS. You were the victim there.
CD says
SATSUMA.. they just dont seem to care do they, there 8 weeks is up with me now , told them numerous times about it but they just dont seem bothered at all, cant begin to imagine how many other cases have gone to the FOS, i bet they dont even reply to the FOS either when they get in touch. Wouldnt be suprised to see them go into admin at some point, anyone else seem to get this vibe from them or have they had any good dealings with them and received a redress/ response.
Jane says
Hi CD
My 8 weeks with Satsuma were up on 10th. I received various e-mails saying they were looking into my complaint and would respond within the timescale. Then got an e-Mail on 9th saying they were not going to be able to give me a response within the time! Sent straight off to FOS. Sent them an email to tell them it’s gone to FOS and also mentioned FOS had just found in my favour with another complaint for the same period.
Em says
Has anyone had any experience with cashfloat?
Just wondered how long they take to payout once an offer has been accepted?
Laura says
I have. I accepted their offer Wednesday and the money was in my bank the following day.
Elizabeth says
After complaining to drafty they have come back not upholding my complaint.
I’ve forwarded it to the FOS this morning.
For background I had line of credit for £1630 that has been fully drawn down since sept 2018.
Have so far paid just over £1800 but still owe £2000.
Each month I borrowed to the max, this is alongside multiple other payday lenders.
Drafty are claiming they verified my available income on 3 occasions And that they also verified my finances with a 3rd party (not sure what this means as had they checked my credit score they’d have seen that not only was I behind on a score of payday loans I was also behind with priority debts – British Gas)
Just wondered what people’s experiences were with the fos on cases like this.
I’ve also for a claim in with SafetyNet so just waiting back to hear from them (I’ve had the hold email at 4 weeks) befor the end of the month.
Steve says
Has anyone had any experience with Likely Loans they come under Oakbrook Finance, had my claim partially upheld by an adjudicator 10 days into the 14 days they have to reply and nothing I get the feeling they are going to reject the decision as they were not very helpful during my initial complaint.
Thanks
Steve
Anon says
Hi Steve,
My complaint was investigated, rejected my complaint at least 3 times, then eventually offered my gesture of goodwill of £1000. I took it as did not want to risk them going into administration waiting for the FOS. I would just keep trying to argue you case, defending each point they describe if possible. I thought I had no chance, but at least in the end I got somewhere. Only had the offer after finally sending all my bank statements around period 3 months before and after loan. Hope this helps !!
Al says
Hi Sara.
I’ve recently recieved my wonga pay out, at long last!
I have other claims but one of the Lenders is denying all knowledge despite a whole host of loans I took out, they’re asking for bank statements as proof but I don’t have access. My account was closed down due to debt.
How do I find them on my credit report if they were more than 6 years ago?
Thanks a lot
CD says
Hi Jane,
How long do the FOS usually take to respond?
Thanks
Jane says
Hi CD
I think it depends on the individual case. I sent one to them re Myjar on 31st Jan and got a response from adjudicator upholding my complaint on 11th March. Myjar have until 25th to say whether they accept his findings. Otherwise it will go to an Ombudman which could take months.
MnM says
Hi CD
My Satsuma complaint has been with FOS since August 2019. It was picked up by an Adjudicator in January 2020 and I am still awaiting their outcome. Satsuma have been slow sending their information over.
Be prepared for a long wait.
Hazel says
Do we think SCN will pay out today ?
Anon says
I was thinking the same… nothing yet! I wonder if anyone else has received their refund today?
Vic1502 says
I’ve just received my SNC refund into my bank account 😊
frogman says
I have been checking my account too. They said by close of play today so we’ll have to wait till 5/6 ish
T says
Has anyone had a pay out from sunny? I’ve accepted their offer and was just wondering how long they normally take? Many thanks
Nick says
They payed me 10k and it took about 3 weeks from accepting
Cj says
Fingers crossed I’m still waiting ..they closed my account with them last night so I’m not longer able to log on
SAM says
Just wanted to say ive had an excellent result from MYJar. Theyve agreed to my complaint from loan 3 onwards and refunding mennearly £1000. Really impressed with them I have to say. Very fair
Nick says
Did you sign the form take a photo and send it back? I have done that to no reply so far?
Sam says
Ive just received the reply today printed off the form and will comeplete it. Was planning to take a photo and send it back. Have to say MyJar have been incredibly reasonable. Wouldnt have got better going to FOS, infact probably would have got less. Maybe just follow up with an email asking for receipt on the day you sent it
Vee says
Got another email from Sunnys Complaint team. They basically said that they are going to decline all adjudicator decisions and going to refer complaints to the Final ombudsman. Is there any way i can try to get an offer from them instead of the long ombudsman process sara?
Sara (Debt Camel) says
I think I would like to know exactly what the email said. Could you copy it here?
Rachael says
For people who are getting a refund off SNC today I have just rang them (only due to ring let down so many times with Wonga and wanted to be reassured)
They have said all refunds are being processed today around 7pm so no later than 9pm we should receive money into our accounts. Any problems and they said ring tomorrow but all being well 9pm this evening money will be there 👍🏻
frogman says
Thanks very much, Rachael, I can put my phone away now and come back in a few hours. Can’t thank Sara enough for this website. £1420 of my money coming back to me by just drafting a letter.
Felicity Halfpenney says
Just had my SNC payment. Such a relief!
Cj says
I have just received by refund from safetynet credit
Anon says
My refund has just popped in too :) thanks again so much Sara. And thank you to everyone for posting updates, it’s so nice not to feel alone in all of this!
Hazel says
I totally agree you don’t feel alone or ashamed to talk about it all thanks
Sonya says
I was completely vilified on the money saving expert forum. This page is so lovely and helpful. So thank you to everyone for not judging me
Sara (Debt Camel) says
some people on MSE can be less than sympathetic :(
Brian says
Hey everyone. Long time lurker here why ive gone about complaining to multiple payday loan type companies. I missed the ball with Wonga and got a wonderfully low £40 off them for a value of 1500 i think it was.
Also complained to safety net credit. After 18 months i had a total of 85 loans with total interest of 750ish
My credit limit was first issued at 250… as they worked out i had 300 disposable income a month according to their “investigation” for final response.. at the time theyve admitted i had 1 ccj but are saying i had no defaults when i know thats not true as i had defaulted on allsorts since being 20 thats messed up my file for years.
They also kept upping my limit.. and are saying they did this as my “disposible income” was increasing.. and yet i was on the same wage so how was this.
Theyve also stated that my final credit limit was 650… when on my credit file now it states a limit of 890… so doesnt add up
They are denying all responsibility and so i am wondering if you guys think its worth pursueing further given that theyve fully denied responsibility and its for 745ish total.
To be fair my credit score is still massively impacted from debts.. still owe 1500 on a aqua credit card theyre charging me 48 a month interest on so struggling to get it down.. and i took out a 118118 loan to pay off 900 of the safety net credit debt that i then owed 1200 on but ar least its all up to date and being paid.
Im at wits end as got a 16 week pregnant missus who is going tk be on maternity soon and ill be sole bread winner yet im having to dodge and scrape at the min to get everyone paid on time so this would really help pay some off to be honest
Sara (Debt Camel) says
yes I suggest sending the SNC complaint to the Financial Ombudsman. If you still owe them money, I hope you have cancelled the CPA to them?
You could also put in a complaint to 118 money. See https://debtcamel.co.uk/refunds-large-high-cost-loans/ for the best template to use for that.
I also think you should talk to StepChange about a Debt Management Plan so you can make one affordable payment that StepChange will divide between your debts: https://www.stepchange.org/how-we-help/debt-management-plan.aspx.
Ben says
Hi sara i have an email response from a creditor is there somewhere i can email it to you. For u to add it to here as its to long to get the correct advise and response i am looking for thanks
Sara (Debt Camel) says
So to summarise what you broke up into multiple chunks, You were borrowing from Satsuma and they have rejected your complaint saying they did the proper checks. It looks like what they send to most people.
How many loans did you have from them? How large were they?
RS says
Can anyone advise how long Ferratum take to refund you once you have provided them with your bank details (I have agreed this direct with them today).
RS says
By way of an update, I accepted Ferratum’s offer at 6.00pm on Friday and the funds were in my account by 4.00pm on Saturday. Once again, thank you Sara for your invaluable advice.
Melissa says
Finally some success for me. Lending Stream have partially upheld and are refunding me £370 which I’m pleased with!
Anyone know how long they will take to pay it? I’ve confirmed my bank details are correct by return email.
Marie says
Hi Sara
About 5 months ago the adjudicator at FOS upheld my complaint with Uncle Buck, saying that I should be refunded for almost all of the loans I’d taken out.
Uncle Buck obviously didn’t agree, so it’s now been passed onto the ombudsman, but as you know there’s a potential 9 month wait to get a final decision.
My question is, I’m still paying back Uncle Buck, as I have an outstanding balance of £400, should I continue to keep making repayments when the FOS upheld my complaint and I could be using these repayments to pay off my other debts?
I’m not sure what to do, any advice is much appreciated.
Thanks
Sara (Debt Camel) says
do you know how much interest you paid on the loans the adjudicator said to refund? and did that include the last loan?
Marie says
I think roughly £1000 altogether, I’ve paid off the principle amount of this outstanding loan so all that’s left now is interest.
Sara (Debt Camel) says
It seems HIGHLY unlikely that the adjduicator’s decision would be changed to so much less by the Ombudsman thast the last loan would not be refunded.
So the advantage of stopping paying is that you can use the payments now to clear other debt. Reducing credit card balances and overdrafts can save you a lot of interest,
The only disadvantage is there may be some short term damage to your credit record but as the last loan was included in the refund, any negative marks on your credit record that get added because of this will be deleted in the end.
Anon says
Hi, I have had a response from Lending Stream partially upholding my complaint. They have agreed to refund loans 5-8, do you think there is any point in me taking this to FOS for a better result? Loans were as follows, I was gambling during all of these loans and had multiple payday loans at the time of all:
24/10/18 £400
13/05/2019 £200
15/05/2019 £200
21/05/2019 £100
09/06/2019 £100
10/06/2019 £100
25/06/2019 £50
09/07/2019 £460
Sara (Debt Camel) says
That is probably a fair offer. (If the first 4 loans were the other way around, so 100,200,200,400 then I would be saying the 4th should also be included as your situation was clearly getting worse.)
Phil says
Hi Sara, if a company (sunny) offer to pay off your balance as a good Will gesture when they’ve not upheld your complaint for irresponsible lending, should I accept this or take it to the ombudsman?
Sara (Debt Camel) says
hi Phil,
that depends on how large the balance is and how much interest you have paid on previous loans… it could be a great offer or a terrible one. Could you say some more about your borrowing and the offer? Which lender is it?
Phil says
Hi Sara,
Thank you for your reply. The Lender is Sunny.
This is what they sent that:
you had 9 Sunny instalment loans; and
taking into account all loans you were charged interest for 18 months or less; and
the total amount of interest you repaid across all of your Loans was 25 % of the total capital
Our decision
We conduct affordability and creditworthiness checks for each and every loan application. Therefore whilst we can see you have taken a number of loans with us we are confident, based upon our checks that these were affordable. Therefore we do not accept the loans provided were unaffordable.
We have therefore not upheld your complaint.
However we are, as a gesture of goodwill, willing to write off outstanding balance on your account (£816.16) and we will update your credit file to show those loans settled
If there is further information that has not yet been made available to us that should be considered or contradicts our decision, please send this to us.
So effectively they have agreed to settle the account as a goodwill gesture, but as I’m in a DMP
this hasn’t taken in to account my stress and anxiety. I look forward to hearing from you as to what I should do next. Thanks
Sara (Debt Camel) says
How long have you been in a DMP? Were your Sunny loans taken during your DMP or have you put the last defaulted loans into the DMP?
The defaulted loan – is it one or more? how much did you borrow for these loans alone and hoe much have you repaid?
Phil says
I’ve been in a DMP for 16 months and the loans were taken prior to that.
I’ve currently got two outstanding one for £1000 and the other for £400. Their goodwill gesture will settle the balance for both of them. I’m
Not entirely sure how much has been repaid on these two. I’ve had 9 loans from them in total
Sara (Debt Camel) says
Then I suggest you reply saying that you would like to consider their offer, but to do this you need to know how much interest you paid on loans 1-7 and how much you have paid to loans 8 & 9 so far.
Mr Stephen says
I had 121 loans with lending stream over 3 years mainly due to thier top up option do you think they will uphold my complaint I made?
Sara (Debt Camel) says
I certainly hope so! Come back here if you aren’t sure an offer from them is adequate.
Mr Stephen Reeves says
Got my offer from them this morning they are refunding all but the first 4 loans which were very small the refund totals 6.5k so I’m over the moon I’ve replied accepting the offer straight away and confirmed my bank details.
Do lending stream reply to confirm reciept of my acceptence and how long do they normally take to pay out?
Victoria Dowse says
Hi i dont know where to pop this but peachy is in administration ive just checked my loan and its on the login page. I have just put a complaint in as it says you still can.
Holly D says
I have borrowed continuously from Sunny over the past four years, and, I estimate that I have paid £6,750 in interest on these loans. I submitted an affordability complaint to Sunny on 20th February, however, I am concerned to read from previous posts that Sunny are/will decline all adjudicators decisions and force everyone to go on the very long Ombudsman route. Is this Sunny’s response to the avalanche of affordability claims which they have received?
Sara (Debt Camel) says
I am concerned to read from previous posts that Sunny are/will decline all adjudicators decisions and force everyone to go on the very long Ombudsman route.
Only one person has said this and I haven’t seen a copy of the email from Sunny so I am not sure exactly what it says.
If they are now adopting this as a routine policy it breaks the regulator’s rules and I think the FCA will object.
Sara (Debt Camel) says
Do you still owe Sunny any money?
Holly D says
Afraid so, £490.
Sara (Debt Camel) says
In that case I suggest you stop paying them anything now. You have a VERY strong case. Why should you have to pay for them while they potentially string out their complaint handling?
Not paying them may have an adverse effect on your credit record but once you win your complaint that will all be deleted.
And if the worst happens and Sunny go under (NB I am not saying that is likely in the next few months, I haven’t seen anything to suggest it is) you may be £490 better off…
KL says
Does anybody have email addresses for the management at Satsuma? And have they had any success with satsuma,’ just absoloutely ignored me until i said its one day until i go to the fos they basically just said ‘crack on, sent me links to direct me to the ombudsman.
Pete says
Malcolm.lemay@providentfinancial.com
Should get you a swift response
Suzie says
Hi Sara,
What loans do you reckon where I will get the interest back from Myjar?
Loan history as per below.
Loan 1: Date borrowed – 8th September 2015, Amount – £100.00
Loan 2: Date borrowed – 17th October 2015, Amount – £125.00
Loan 3: Date borrowed – 1st November 2015, Amount – £750.00
Loan 4: Date borrowed – 16th February 2016, Amount – £100.00
Loan 5: Date borrowed – 11th March 2016, Amount – £200.00
Loan 6: Date borrowed – 10th May 2016, Amount – £200.00
Loan 7: Date borrowed – 6th September 2016, Amount – £375.00
Loan 8: Date borrowed – 8th October 2016, Amount – £275.00
Loan 9: Date borrowed – 4th December 2016, Amount – £550.00
Loan 10: Date borrowed – 30th December 2016, Amount – £275.00
Loan 11: Date borrowed – 6th August 2017, Amount – £250.00
Loan 12: Date borrowed – 12th November 2017, Amount – £1700.00
Loan 13: Date borrowed – 24th October 2018, Amount – £175.00
Loan 14: Date borrowed – 6th December 2018, Amount – £600.00
Loan 15: Date borrowed – 21st August 2019, Amount – £200.00
Loan 16: Date borrowed – 19th December 2019, Amount – £300.00
Many thanks x
Amelia says
Hi
Suzie,
I had 8 loans with my jar and they upheld my complaint for the last 7 which I took out one after the other once I’d paid them off. I’m due to get over 4k, so I hope you complained about all of them x
Antony says
I had a complaint upheld today from myjar. They held their hands up for all my loans. It’s a shame all other lenders actually follow suit and then borrow sensibly in the future.
Ben says
Hi i had emailed in tbe long email about satsuma but cudnt find my post to respond. Yes satsuma have basically not send me what i asked for just tbe reply saying they did the checks and were saying they were not upholding complaint what can i reply to that?
Sara (Debt Camel) says
I didn’t publish your very long comments – they looked like standard template replies. But I replied to you instead:
“You were borrowing from Satsuma and they have rejected your complaint saying they did the proper checks. It looks like what they send to most people.
How many loans did you have from them? How large were they?”
Ben says
It was 2 seperate loans one was £1000 and 1 for £700 . I think i only made 1 months payment and then they gave me another one .
Sara (Debt Camel) says
That’s definitely worth taking to the Ombudsman.
You won’t get Satsuma to change their mind.
Lee sharratt says
Hello. 7 loans over 7 months. And sunny have not agreed with my complaint. Are they real? Sent to the fo
Mr Stephen Reeves says
Just had my offer direct from lending stream which I have accepted now I’m worried about them going into administration in the next 28 days. Do you think I’m safe and will get my money?
Keeley says
I also worry about this, I’m on day 11 of 28 just have to keep everything crossed
MP says
I put my complaint in with drafty in February, they have so far only acknowledged my complaint, but yesterday I noticed that all the entries relating to the current Drafty loan have gone from CreditKarma and Experian (there was a default). Is it likely that these will reappear if they don’t uphold my complaint? Is this standard practice to remove while they investigate? None of the other companies have done this until my complaint has been upheld (so far Safety Net and Piggy Bank have upheld my complaints and wiped the interest +8% off what I still owe them plus removed their entries on my credit file).
Jen says
I complained to Mr Lender and got final response in July 2019 not upheld. I sent to FOS. Adjudicator picked it up in October and upheld my complaint in December. Mr Lender disagreed and offered part payment, so has gone to Ombudsman. I have still heard nothing from this point and adjudicator has not responded to my emails asking for an update.
Has anyone else had this experience and knows any time frames? I am owed nearly £4k from them, so just hope they don’t go in to administration. They offered £2200, is it too late to accept or should I wait?
I had posted this on another thread, but realised Mr Lender info is best on here
Sj says
Hi Jen, in most cases you will have 6 months from your inital offer.
Jen says
Good news. The Ombudsman upheld my complaint today. I am so glad I waited, I am so happy.
Andrew says
Sara, can you tell me if Quidie have have gone bump? They have had a company Are You Owed Money chasing me for some time for a default. I frankly got sick of this so I put in an affordability complaint to them a day or so ago and it’s only just come back as undeliverable. I used the email address in your list so I can’t understand it.
Sara (Debt Camel) says
Don’t think so. Try emailing complaints@fernovo.co.uk with QUIDIE COMPLIANT as the subject. Can you come back and say if that works?
Marc says
I have had a response and settlement off within 7 days from safety net, althought i still owe defaulted money they have agreed very quickly to remove all interest.
SK says
Re: CreditStar
I had two loans with CS, however I had other loans with different lenders. I complained on affordability, after 8 weeks they didn’t upheld my complaint. Sent to FOS, adjudicator upheld my complaint. Interest returned to me within 4 days after decision.
MM says
I’ve had loans from peachy in past two years (fully paid)
Is it worth contacting them for refund irresponsible lending now??
Sara (Debt Camel) says
Yes. You may only get back a small percentage, but it’s easy to do – just send them a complaint email, very short, saying the loans were unaffordable.
rachael says
Lending stream have come back to me this morning and upheld my complaint- just short of 6k. absolutely over the moon- now I guess its just waiting to get the money. did anyone get an email back from them once you agreed to it?
Mr Stephen Reeves says
I had my offer yesterday and replied and have yet to recieve a reply so am wondering the same thing. Also worried about actually getting the money I worry that they are upholding these complaints because they are about to go under
Melissa says
I accepted my offer on Friday and confirmed bank details via email.
I had a response today confirming reciept of this and stating 28 days to pay out.
Jane Y says
Wow Rachel that’s brilliant. When did you complain to them and how many loans did you have. I sent mine 28t Jan and still waiting
Thanks
Jane
rachael says
I had 32 loans with them- I sent mine on the 28th Jan so hopefully you should hear back soon!
Sonya says
I feel sick. Received all my information today from Sunny. £18,232.00 interest paid on 47 loans over 4 years….
Sara (Debt Camel) says
OMG
do you still owe them any money?
sonya says
I have a balance of £674.82 outstanding with them
Sara (Debt Camel) says
Then I suggest you stop paying them anything!
Sonya says
It’s now with a DMP – what can I do from hereon? Literally feel like crying. I have been so stupid.
Sara (Debt Camel) says
How large are the debts in your DMP? how much are you paying a month to them?
Do you still owe money on the Amigo loan?
SOnya says
Amigo loan paid in full. I am paying £232 a month to Payplan – About £16,000 outstanding with various lenders and cards
Sara (Debt Camel) says
ok so less than £15 of that is going to Sunny.
Is the £292 really affordable?
you have a complaint in amount Amigo – do you know how much interest you paid them?
any other lenders you have complained about?
Sonya says
£3,302.57 in interest to Amigo. I have made complaints against Satsuma, Quick Quid, Lending Stream and My Jar (My Jar came back with £300 offer and have sent to Ombudsbam)
The amount going to Sunny is £9.86. It’s not affordable.
Sara (Debt Camel) says
Then talk to Payplan and ask if you can reduce the monthly payment.
Timbouk says
Hi
Do we know how long a lending stream refund takes to come through? It says up to 28days, does it normally take this amount of time?
Thanks
Tim
Ritson says
Just to let you all know, I sent a complain template to Safety Net Credit and they responded in 2 weeks saying claim accepted and will be paid by Friday 20th
CZ says
i also did the same, but their response was to just remove the interest, and the balance is still payable, is my next step to open a complaint with Ombus?
Catherine says
So I had a complaint upheld at FOS with Satsuma loans,they failed to respond to investigator on the 10th,I rang Satsuma on the 12th and they said the outcome had not been reviewed and could take a while.
I sent the CEO a kind email,explaining the businesses failure to communicate with the FOS and could he urgently tell the business to provide its response.
Today I received a email from the FOS officer in the consumer credit division at Provident to confirm they agree and the amount I will be receiving which will be sent by cheque this week.
There was a email that may be worth other sending to if SAtsuma has failed to respond to FOS.
FOS.Complaints@Provident.co.uk
Nick says
Hi Sara I haven’t heard anything from sunny after they failed to respond to my adjudicator timeline however I have just had an email from FOS saying they are experiencing delays in getting anything back from them in general.
Ian says
I know there are bigger things to worry about at the moment, but i was wondering if this current pandemic will cause delays to payouts? or investigations?
thought just occurred to me while I was checking my emails. At the end of the day they’re still people working at these companies. They wouldn’t be so low as to use Corona virus as an excuse now, would they??
Like I say there’s bigger things to worry about at the moment, I’m more worried about my Parents more than anything. But thought I’d put it out there.
Andrew C says
Hello Sara,
I successfully made a complaint to Sunny/Elevatem which was partially upheld on 8th April 2019. They agreed to pay some token compensation; but more importantly for me, to remove several records from my credit file. My credit file still has not been updated as they promised. I have chased them several times before. On the 20th November and again 3rd February they wrote to me to say that they have sent a request to their ‘amendments department’ and my credit file will be updated in 4-6 weeks. Still nothing. Do you have any advice on what I should do next? Do I just have to keep writing to them or is there something else I should do?
Sara (Debt Camel) says
I should tell them you are sending a complaint to the Financial Ombudsman and asking for compensation if this has not been resolved by the end of the month.
Also leave them a bad review on Trust Pilot https://uk.trustpilot.com/review/sunny.co.uk
Pete says
Just randomly had this from next credit they refused to uphold complaints but did reduce intrest and put on payment plan had asked in the past about reduced settlement
Nextcredit Ltd – Important Information About Your Loan
N
Nextcredit
Mon 16/03/2020 12:50
Archive
Next Credit
NOTICE OF LOAN WRITE OFF / TERMINATION OF YOUR PAYMENT ARRANGEMENT
We are writing to you to let you know that we have recently carried out a review of the above loan account.
Following that review Nextcredit has taken the decision, as a gesture of goodwill, to write off the remaining balance you owe.
If you are in a repayment arrangement with Nextcredit Ltd., or one of its instructed agents, your payment arrangement has also been terminated.
What this means
This means that Nextcredit Ltd. will no longer be pursuing you for this debt, your current outstanding balance has been reduced to £0.00 and you no longer owe monies to Nextcredit Ltd.
Pete says
Just went on the website they’ve gone into liquidation hopefully more get balances written off
Nextcredit Ltd. traded in the UK and provided lending services to the UK consumer market. The Company is regulated by the Financial Conduct Authority.
BM Advisory LLP, a firm of qualified insolvency practitioners, was instructed on 5th March 2020 by the Company to assist the directors in placing the Company into Creditors’ Voluntary Liquidation.
The Company, with the assistance of BM Advisory LLP, will conduct an orderly wind down of the business in accordance with their statutory obligations.
Nextcredit Ltd. continues to be regulated by the Financial Conduct Authority and BM Advisory LLP will continue to be in contact with the Financial Conduct Authority as appropriate.
nial says
I have just received the same email, the debt I had was with Capital Resolve and exceeded £500. Didn’t expect that, nice surprise.
Sarah says
Just wanted to update with my first good news story and also to say thank you to Sara, as without this site I would never had even known that this was possible. I wrote to a few of my old payday loan providers on 26/02, mine were mainly the high street stores where you gave them cheques and paid them not to cash them. I heard back from H&T today that they are upholding my complaint and writing off the outstanding balance and I have £2018.88 coming my way. I’m sure that I could have gotten more by going to the ombudsman, but they are saying I only had two loans as I rolled it over for years rather than take a new one. So I’m happily accepting, as it will help a lot if I cannot work during any Coronavirus work shut down.
Thanks again Sara, this is amazing and hopefully I will hear from a few more soon!
Out of interest, has anyone had a response from Ablemarle and Bond, as they have not even replied to my initial complaint email?
Sarah says
Just wanted to update that the money was in my account today by faster payment.
I am shocked it was so quick and easy to get this sorted as my initial complaint was sent on 26/02.
Thanks again Sara, hoping for more good results now!
Amy says
I’ve just been on the phone to the FOS and asked for an update , I sent my complaint about Amigo to them at the 8 week mark, Amigo did not uphold my complaint which they told me at the 14 week mark.
The FOS had given Amigo 2 weeks which was up Friday and still haven’t had any information from them so will be giving them another 2 weeks. I understand there are alot of complaints but Amigo really are taking the mick now.
P says
Hello Sara
Wonder if you can help?
I raised affordability complaint re 14 loans from March 2013- Feb 2014 from Myjar, the complaint was rejected stating they could not find records of my account. I referred my complaint to the FOS once the adjudicator was involved they offered to refund interest on loans 6-10 of £160 with 8% stat interest of £69.44 less 20% tax of £13.89
Total refund £215.56
Saying they would reconsider the offer if I could provide further bank statements.
I rejected their offer and queried the calculation of the 8%, I managed to get the two missing statements from my bank and submitted them, they came back with another offer to refund interest and charges on loans 1-14 of £354.91 plus 8% interest of £146.10 less 20% tax of £36.53 total refund £501.01
I don’t really understand how the 8% interest is calculated so am not sure if it is accurate or not, can you help?
Date Issued, Date Closed, Loan Amount,
Total Paid
2013-03-09 – 2013-03-28 £100 £117
2013-04-17 -2013-05-03 £100 £117
2013-05-01 -2013-05-03 £100 £117
2013-05-03 -2013-05-17 £100 £117
2013-05-18 – 2013-05-31 £100 £117
2013-06-13 -2013-07-05 £100 £149.91
2013-09-09 – 2013-09-25 £100 £120
2013-09-25 -2013-10-02 £100 £120
2013-10-14 -2013-11-04 £100 £120
2013-11-25. -2013-12-09 £100 £120
2013-12-12 2013-12-28 £200 £240
2014-01-10 2014-01-22 £100 £120
2014-01-22. 2014-02-10 £200 £240.
2014-02-28 2014-03-17 £200. £240.
Sara (Debt Camel) says
it does look low – I would expect it to be a bit more than 50% of the 354.
Can you ask them to explain how they have calculated it, pointing out all the loans were repaid more than 6 years ago.
Anon says
Not sure if this is of any interest to anyone, but I have had a response from Mr Lender not upholding my complaint which I wasn’t too surprised about considering it was just the one loan with them. However although they haven’t upheld my complaint, they have offered me a £25 Amazon or Tesco gift card.
Melissa says
Same here. Only one loan so I wasnt planning to escalate to FOS. Accepted voucher yesterday and it arrived in post today!
Johnny says
How long do Sunny normally take to payout? Iv had an amazing offer of £3k from them but they said it could take 30 days.
Thanks so much for this site Sara
J says
6 days if you torture them by email and trust pilot.
Worked for me got my 3k very quickly.
Bob says
247 Moneybox went into administration in November 2019. Given the similar action taken by Wonga, Wageday Advance and others, what rough timescale are we working to do we think to get refunds/ loans removed from credit file?
When did wonga go into admistration v when the loans were removed from credit file?
Sara (Debt Camel) says
12-15 months?
Tony says
Just had an email off wage day advance administrators, after putting in a claim about 2 years ago. They are upholding my claim and what would have been a redress of £592 I am getting a mere 4.5 to 5.2p per pound payable on or before 31st may.
James says
Hi all
I’m on day 18 of 28 with lending stream payout & i’ve seen recent payments made around day 20… my question is with the Corona virus will this stop companies making the refund payments…. as that would obviously suck!
Sara (Debt Camel) says
I hope not!
Jess says
I made an affordability complaint to MyJar using the template. I attached my credit report from January and explained that as Wonga has upheld 35 of the loans they were being removed from my credit report but in the report attached it was obvious I was borrowing from both firms simultaneously to pay each other.
MyJar have written back asking for bank statements and payslips. I don’t have them as they date back to 2013 and until recently as I was so in denial about my financial situation I never read them and usually threw them away.
My question is do I have to send them? I don’t understand why they need them when Wonga worked out they owed me £8000 without me giving them any information.
chris says
thats mad i didnt send them anything just a basic complaint email and they responded paying me back over £8000 its strange how different they all are
Mel says
Does anyone know how best to contact moneyboat ? I have accepted a refund from them but I can’t confirm with them any details as they don’t answer phone and emails ?? Does anyone know how long they take to process refunds ???
Sara (Debt Camel) says
Have you tried a bad review on https://uk.trustpilot.com/review/moneyboat.co.uk ?
How long ago did you accept their offer?
Glen says
I now face a race against time to get this money in, the world has changed very quickly.
Waiting on a cheque from Satsuma and a payment from Avant.
Just put in claims against Mr lender , Aqua and Marbles.
Gonna need every bit of help in these troubled times.
Sara (Debt Camel) says
Who do you owe money to at the moment?
Glen says
I owe to Natwest .Bamboo and 118,the last 2 have wiped my interest and Natwest turned me down for affordability claim.ive an option to go to the FOS but I dont think I will win..
My Satsuma cheque has just arrived.waiting on Avant credit to pay now so it’s all helping.
Claims just put in again Mr Lender,Aqua and Marbles, small chance but hey ho.
Nick says
Morning Sara,
I have recieved my response from Ferratum and they basically said they did no wrong but want the best outcome for me. So as a goodwill gesture they are willing to offer refund on the 7 loans below 440316842316 down to 440100308079 . No mention of 8% interest etc.. Does this seem like a fair offer to you considering the dates? Thanks in advance for your advice.
Nick says
Start Date Paid Back Date Loan Amount Interest Paid
not refunded
08/05/2017 26/05/2017 £ 300.00 £ 43.20
27/05/2017 28/06/2017 £ 300.00 £ 76.80
28/06/2017 28/07/2017 £ 300.00 £ 72.00
28/07/2017 31/07/2017 £ 300.00 £ 7.20
10/10/2017 27/10/2017 £ 300.00 £ 40.80
27/10/2017 28/11/2017 £ 300.00 £ 76.80
28/11/2017 09/02/2018 £ 800.00 £ 397.68
————————
refunded
31/08/2018 24/10/2018 £ 300.00 £ 111.93
11/11/2018 18/01/2019 £ 300.00 £ 91.45
25/01/2019 01/03/2019 £ 400.00 £ 108.80
17/03/2019 27/03/2019 £ 110.00 £ 8.80
11/04/2019 17/05/2019 £ 160.00 £ 46.08
26/05/2019 27/06/2019 £ 200.00 £ 51.20
24/07/2019 27/08/2019 £ 200.00 £ 54.40
————
not refunded
17/11/2019 27/11/2019 £ 400.00 £ 32.00
06/12/2019 21/02/2020 £ 300.00 £ 99.54
Sara (Debt Camel) says
Well it isn’t dreadful but at FOS I would expect you to get a refund from loan 5 or 6 right through to the end.
I suggest you go back to them and say that.
But you could say as a compromise to get this settled speedily you will be happy if they also include one extra loan – the one that started on 28/11/17 – as that was so much larger and after 6 back to back loans FOS would definitely refund that one.
Nick says
Had e result finally from Ferratum. I asked for them to add the larger loan started 28/11/17 as a compromise and they agreed.. thank you for the sound advice Sara :)
Karen says
Hi Sara,
I have had a response from Sunny today. I had 19 loans with them in total and this was their decision
Calculate the interest paid by you from your 16th loan onwards (£28.71);
Pay interest of 8% (simple) on the above refund amount from the dates of payment to the dates of settlement, which comes to £7.47; this means the total amount due to you is £36.18
As there is a remaining balance on your account (£412.10), we agree to write off this amount, so that you have no further liability to us;
Amend your credit file by removing all loans from your 16th loan onwards’
So do you think I should just accept that that is the rest of my debt with them written off or do u think I have a chance with the fos? I’d rather all the loans were removed from my credit file if I’m honest. Bit disheartened with this response as it wasn’t just sunny I was borrowing from.
Sara (Debt Camel) says
that is one of Sunny’s very poor offers. With 19 loan, you are likely to get a lot more awarded a refund by FOS than just the last 4.
Are you paying them anything at the moment?
Karen says
I thought so too. They basically stated that I could afford the loans when I was up to my eyeballs in other payday loans and an everyday loans one too.
I still owe them £412 but I had cancelled my direct debit while the claim was in as I cannot afford to keep getting into debt. They were hounding me for the payments so I emailed back and stated I was awaiting the outcome of my complaint (this was yesterday) and I have received this today.
Should I email back and decline and state that I will be sending it to the FOS?
Sara (Debt Camel) says
oh I think so, and tell them you will not be making payments while the complaint is with FOS – Sunny have offered you so little. Worst case (which I have no reason to think is about to happen, I really mean the worst case) is that they go under, but then you would have the balance written off anyway.