Did your payday loans cost so much when you repaid one you had to keep on borrowing?
You can get a refund of the interest you paid on unaffordable loans.
It’s easy to ask for a payday loan refund using the free template letters here. The letters work if your payday loans were repaid or you still owe money.
The comments below this article have thousands of stories of the refunds people have got using these letters. It is a great place to ask questions!
Contents
What are “unaffordable” loans?
Was a loan affordable just because you repaid it?
No! If paying a loan left you so broke you had to borrow again – from the same lender or a different one – it was unaffordable!
The regulator says:
“the borrower should be able to make the required repayments without undue difficulty, whilst continuing to meet other debt repayment obligations and reasonable regular outgoings.”
That means a payday loan is only affordable if you repaid it on time and you could still manage to pay your other bills and debts.
Payday loans are meant to solve a short-term problem. If you kept repaying one then getting another loan soon after, the lender should have stopped lending to you.
If the loan was small and it was the first loan or second loan from a lender, the lender may not have realised the loan was unaffordable for you. But it was irresponsible lending to just carry on giving you more loans.
Many lenders ignore obvious signs of problems such as your loans increasing in size, or borrowing again soon after repayment.
How much compensation can you get?
You don’t have to calculate this. Just ask for a refund from the lender and see what you are offered. This is simple and it works well.
The Financial Ombudsman has seen tens of thousands of payday loan affordability complaints.
A typical decision by the Ombudsman is that the payday lender should refund all the interest you paid interest after the third, fourth or fifth loan.
But if your first loan was large, or was rolled over several times you could get a refund from just one loan.
Which lenders can you get refunds from?
You can complain to lenders that are still in business, even if they are no longer lending. These include:
Lending Stream, Cash Converters, CashASAP, Drafty, Dot Dot, Fast Loan Uk, Fernovo, Fund Ourselves, Kabayan, LoanPig, Mr Lender, Moneyboat, MyKredit, My Finance Club, QuidMarket, Savvy, The Money Platform, WageMe, Wizzcash,
See this email list for payday lenders for a longer list and all the contact details to use.
If the lender has gone into administration, including CashForUNow, Piggybank, Ferratum, Oakam, Safetynet Credit, Tappily:
- make a claim to the administrators – there is normally a simple form for you to complete, see the lender’s website for details – but there will be a time limit for doing this.
- you may not get much cash back but this is very easy to do. A balance may be reduced or cleared even if there is no cash to distribute. And if you win the complaint any negative marks on your credit record will be removed.
It is probably too late to make claims to other lenders who gave up years ago, see this list.
For longer-term loans there are better template letters to use on other pages:
- doorstep lenders and guarantor lenders,
- Loans2Go – the worst loans in Britain!
- 118 Money, Likely Loans, Bamboo, car finance, bank loans and other long-term loans.
Do this before, before you send in a complaint
Doing these things now will make your life easier later.
Get a copy of your TransUnion statutory credit report and keep it. After complaints are started, sometimes loans are deleted and you may want the full report if you later have to go to the Ombudsman.
If you still owe money to the lender, read Will an affordability claim hurt my credit record, and other questions. These looks at your options for stopping paying, the effect on your credit record etc.
If the rest of your finances are difficult, look into a Debt Management Plan (DMP) where you make one affordable payment a month to StepChange. This gets you into a safe financial position as these affordability complaints can take a long time to go through at the Ombudsman. Winning a complaint then speeds up the DMP.
Unless you can afford to make this month’s payment without borrowing again, cancel the CPA to the lender at your bank. Otherwise the lender may take the money and you will be in a mess.
If your loan was sold to a debt collector you complain to the original lender. But also tell the debt collector that you are disputing the debt. It is a good idea to carry on making payments to the debt collector if they are affordable.
Start your complaint & get loan details
Find the lender’s email address for complaints from this list.
Put “AFFORDABILITY COMPLAINT” as the subject of your email:
You should never have given me these unaffordable loans. Paying you each month left me with too little money so I had to keep borrowing to get through the next month.
You should have realised from the number of times I borrowed that my debt problems were getting worse. It was not responsible to continue to lend to me. [Add more details eg how often you borrowed or rolled loans if you know them, how the amount borrowed generally went up etc]
[Include/change this if your credit record would have shown big problems:] My credit reports would have shown all my other debts and problems including late payments/defaults /CCJs/debt management.]
I am asking you to refund the interest and any charges I paid, plus statutory interest, and to delete any negative information from my credit record.
[delete this sentence if you know what all your loans were.] I know the difficulties your loans have caused me but I no longer have all the loan details. Please send me a list, showing for each loan when it was taken out, how much interest and charges you added, and what I repaid. This will enable me to assess any refund you offer me.
[delete this sentence if none of your loans were sold.]If a loan was later sold to a debt collector, please inform me of the date of sale and the name of the debt collector.
Some ways to improve this
Add any other points that help you describe what happened to you. You don’t need to list the loans – the lenders knows them.
Some examples:
- “I took out another loan with xxxx to pay you.”
- “Sometimes I borrowed to pay the rent and then had to top-up to get money for food.”
- if you weren’t treated fairly while you were borrowing or when you could not make a payment, add a bit about this.
You can attach bank statements if you like, This is a good idea as these show how unaffordable the loans were for you. If you have gambling showing, this helps your complaint, it doesn’t harm it.
I don’t know if many lenders actually read what you send them. I
it’s easy to make these complaints – you don’t need to calculate what refund you should get or quote laws.
Only one loan?
The template refers to multiple loans because that is what normally happens with payday lenders.
When you only had one loan and it was large, read Refunds from large loans and use the template there.
If you only had one loan and it was small, this is going to be a very difficult complaint to win. If you have borrowed once or twice from 5 leaders, that is much more difficult to win an affordability complaint than having 4 or 5 loans from two lenders.
Waiting for a reply from the lender
This email starts your affordability complaint.
They may send the list of loans first and later respond to your complaint. So don’t be surprised if you get sent info on the loans but nothing about your request for a refund.
When you get your loan information, you can send in more details about your complaint if you want. You don’t have to do this, your complaint has already begun and the lender has to reply.
The lender should reply to your complaint within 8 weeks from when you send the email, not when they acknowledge it. Make a note in your diary for 8 weeks time and chase the lender up if you don’t get a reply.
Don’t be surprised if you have to wait until the end of the 8 weeks to get response – this is common.
Send your bank statements or other information?
Some lenders ask you to send them a copy of your credit record, payslips or bank statements.
Credit record – the lender can check your credit record themselves if they want. But you should download a copy of your credit record asap as the Ombudsman will ask for it. Don’t put this off, the sooner you get a report downloaded, the further back it goes which is good.
Don’t send payslips – they won’t help an affordability complaint and the ombudsman never asks for them.
It is a good idea to send bank statements. But think twice about the cost of copying and postage if there are a lot. Some lenders seem to ignore them if you do send them.
Again this is a good point to get those bank statements even if you do not want to send them as they will help an Ombudsman claim a lot. You can get them going back at least 6 years even if the account has been closed.
Lender says No or makes a poor offer
If the lender rejects your complaint or offers you a small amount, don’t be depressed. You may still have a very good case!
It is easy and free to send your case to the Financial Ombudsman where many thousands of people have won their payday loan complaints, despite being rejected by the lender.
Give up?
Some lenders try to make your case sound bad when it isn’t. People have had large amounts refunded after a complete rejection!
Just ignore any of the following comments, they do not mean you have a weak case:
- they relied on your loan applications and you didn’t give accurate facts – see Lender says I lied for more about this;
- you repaid some loans early – this doesn’t prove the loans were affordable, just that you were trying to save interest;
- your borrowing didn’t go up every time – irrelevant, what matters is that you kept borrowing;
- you had a good enough credit score or they didn’t legally have to check your credit record – if you only had one or two small loans that is true. But if the loans were large or you kept borrowing, they should have looked more closely;
- your loans are over 6 years old – the Ombudsman will look at these even if the lender says they won’t!
A good enough case to go to the Ombudsman?
If you don’t know what to do, ask in the comments below this article. Accepting an offer settles your whole complaint – you can’t change your mind later.
Don’t worry that you will lose a small offer by going to the Ombudsman – this doesn’t happen.
Some points to think about:
- if you are offered a refund on only a few loans, don’t accept it if you think the lender should have realised a lot of the other loans were unaffordable;
- an offer to write off your current balance may sound convenient … but it may be very poor if you should get a refund as well;
- if getting defaults or late payments removed from your credit record is important to you, are you happy with what the lender is proposing to do? Don’t assume your credit record will be cleared if the lender didn’t mention this.
One or two loan cases are hard to win at the Ombudsman. It’s probably best to give up on one or two loan cases unless:
- the loan was large. Here is one single loan case that was won even though it was an installment loan and the borrower had a good income. And another single loan case for a loan of £1,000. You can win cases for smaller amounts if the repayment would have been a large amount of your income; or
- you still owe money.
Don’t delay too long – there is a 6-month time limit after a lender rejects your complaint to send the case to the ombudsman. When you aren’t sure, send the complaint to FOS. This is easy to do – let FOS make the decision.
How to send a complaint to FOS
Put in a separate complaint about each lender.
Don’t wait until all your lenders have replied before sending the first one to the Ombudsman!
FOS’s “complain online” option is easy and takes you through your complaint step by step.
You can just copy what you said in your complaint to the lender. You can add more details, for example, if you disagree with what the lender replied to you.
If some of your loans were over 6 years ago, tell the Ombudsman when and how you found out about these complaints. For example:
“I knew the loans were causing me difficulty in 2016, but I thought this was my fault for being bad with money. I didn’t find out that the lender should have checked the loans were affordable until June 2022 when my brother told me about these claims/I saw an advert from a claims company on Facebook/I read an article about these claims” – change this so it is right for your case!
Things to attach:
- the reply you have had from the lender.
- bank statements if you have them. Ideally from 3 months before your first loan until the last loan was repaid or you defaulted on it. This strengthens your case, showing how unaffordable the loans were. You can still get bank statements even if your account is closed – if you don’t have them, start the process of getting them now, don’t wait until FOS asks for them.
- a copy of your TransUnion Statutory credit report
- a copy of the credit agreements for the loans if you have them. If you don’t, don’t worry, FOS will get them from the lender.
What happens after you have sent a case to FOS
You will normally be contacted within a couple of weeks and asked for a copy of your credit record and your bank statements if you haven’t sent these. If you have sent these on one complaint, then when you complain about a different lender they will use the ones they already have.
After this initial contact, your case will wait for the lender to send FOS your case file and then wait to be picked up by an adjudicator who will make a decision on it.
If you are still making payments to the lender, tell the lender you want to reduce these to an affordable amount. This will make waiting for an Ombudsman decision much less stressful for you.
The Financial Ombudsman has a two-stage process. Most cases are settled by the first “adjudicator” stage but about 10% go to the second “Ombudsman” stage.
A few problem cases
Don’t ask for a refund:
- if you are bankrupt now or have been bankrupt in the past – any refund would go to the Official Receiver.
- if you are in an IVA, as refunds will go to your IVA firm not to you. If your IVA has finished the refund may still be sent to your old IVA firm.
- if you are in a DRO now, getting a refund may mean your DRO is cancelled!
More help
You can ask a question in the comments below – you may get a reply from someone who has been in your exact situation.
Don’t use a claims management company. They are expensive and often incompetent. It’s easy to do this yourself and you can ask questions below and get replies from other readers who have done this.
Card & catalogue affordability complaints
Can you get an overdraft refund?
Could a Debt Relief Order help you?
RS says
Satsuma are due to respond to me on my affordability complaint by tomorrow. They have just sent me an email advising they have been unable to resolve my complaint at this time and I can refer to the FOS now. Is this their standard response to everyone by reading posts on this forum and should I just send straight to the FOS?. They haven’t even sent me a summary of my loans and interest/charges paid.
Turtle says
I advise to send it straight to the FOS at the earliest time possible. These clowns are not taking the FOS correspondence seriously so will no doubt muck you around further.
Reece says
HI Sara
ive got a case with Uncle Buck with the FOS, im currenTLY on a repayment plan, they have sold the case to a debt collector?
is this allowed? im pretty confident i will win my complaint as I have won 9/10 cases ive had with the FOS.
Sara (Debt Camel) says
yes it is allowed. How much are you repaying a month at the moment and is that affordable? How many loans did you have from UB before the last defaulted one?
PM says
Just had an email to state that NextCredit have decided to voluntarily liquidate. Frustrating as I submitted my claim 3 months ago, and they kept delaying saying “we are still collecting information”. I only escalated this to the FOC 1 month ago, and expect I’ll now get pennies should my claim be accepted.
Adam says
Hi Sara, after a bit of advice if I can please, had my offer back from SNC today. I calculated I had paid around £4,000 in interest over the 2 years of lending. I also have an outstanding balance of £840 with them. They have come back and offered to wipe the balance and refund £1,000
Do you think it’s worth going back for more? Seems a little bit tight to me given the other offers I’ve seen on here. I would probably be happy with the balance clearing and a £2,500 refund or do you think this is unrealistic?
Thanks once again for a great site! Adam
Sara (Debt Camel) says
It’s pretty hard for me to judge. You can go back to them and say what you would accept.
Rach says
Hey, when did you put your affordability complaint in to them please? I’m still awaiting my reply from them.
Adam says
Hi Rach, 13th feb they acknowledged the complaint. I’ve gone back to them with a counter offer so will let you know how I get on.
Rach says
Thanks for letting me know! And good luck. They acknowledged mine on the 26th feb so hoping I won’t have to wait much longer now.
J says
Satsuma gave me my final outcome today. Working out my expenditures etc they stated this was responsible lending etc etc, but twice in my outcome he said he was upholding my complaint..?! But then said i need to contact customer relations to pay my remaining balance. Very confusing.
He actually stated in the final outcome he is upholding my complaint.
Sara (Debt Camel) says
How many loans did you have? Where it said they were upholding it, did this just refer to the last loan?
Tom says
Hi All,
Hope everyone is keeping well. I’ve got an ongoing claim with Satusma.
– 6 loan over last 18 months
– £4k total value
– escalating amounts
– Other payday loans held at the same time.
In short Satusma dismissed my claim stating it was affordable. FOS adjudicator stated loans 2-6 were unaffordable and asked Satsuma to refund.
Satsuma haven’t replied for 4 weeks and no sign of refund. FOS gave them until 26.03 to reply. They replied 25.03 stating they will be providing “a more detailed response soon”. I guess they are going to fight this one.
Just thought i’d let you know
George says
Sara, I need your advice please. I had my loan with drafty and finally got a response from an adjudicator at ombudsman and he has agreed but ignored a lot of points in my emails and feel that he hasn’t really responded to a lot of stuff mentioned. Is it worth asking an ombudsman to check now as he gave me that option at the bottom of his emailed response?
Sara (Debt Camel) says
Has your complaint been rejected? would you like to summarise your borrowing from them and why you think it should be upheld?
George says
Hi Sara, it was rejected from an adjudicator. My complaint was they gave me 1000 lending and I was making minimal payments back but I couldn’t afford to after a while after taking many more loans out following this and before this. Adjudicators response almost seems like he’s missed off. Half my complaint and ignored it. I suffer from stress related ulcers, severe mental health issues and lost my rented property along with a gambling addiction and he didn’t mention any of this. Along with a huge long line of bad borrowing. Said my credit file was in good order but it couldn’t have been that good where I felt I needed to take out a high cost loan instead of a small interest bank loan…
Sara (Debt Camel) says
It seems worth taking this to the Ombudsman. You need to explain your point about your credit record – not say “it must have been bad” but point out how it was bad.
George says
Thank you Sara, I will point out every details and ask them to look for me
Wendy says
Just had my final response from satsuma totally speechless I wasn’t expecting them to up hold any of my loans by what I was reading but they have upheld all my 3 loans I have with them which is with stepchange now,well they have upheld all 3 and wiping all 3 loans and sending me an small cheque In total just over £1500 best of all is the debt comes off of my step change ,thank you so much Sara
Alex F says
May I Ask, £1500, is this in interest or full refunds for the loans?
Wendy says
Hi it was all interest I could of gone to the ombudsman but to be honest I’m happy with clearing the last 3 loans I have with them
Good luck to you
Margaret a says
So I’ve had my final response from peachy and I have accepted , does anyone know the timeline from when you accept to it being paid ?
PM says
Unfortunately you won’t be getting the value of your claim, Margaret. I accepted an offer from
peachy a month ago and have since been told that I will only receive a percentage of my claim due to the administration. Assuming that this is similar to the likes of Wonga, we’re likely to get around 5% of our accepted claims.
Mandy says
Hi sorry I’m being a bit thick here! WageDay Advance have emailed me with a redress figure of 1440.49 and in line with Wonga paying a pathetic 4.5 to 5.2 in the pound how do I calculate what I’ll get mind has gone blank
Thank you
Sara (Debt Camel) says
5p in the pound would be £72 :(
Mandy says
Thank you Sara I guess it’s better than nothing x
Steven says
Ombudsman agreed with adjudicator, Uncle Buck loans 4-9 refunded plus 8% stat. A year to the week since I first put complaint in…. UB. Have been so awkward, twisted and even lied…. But today I get the last smile. Thank you everyone on here… That’s 4/7 won with one more to go (Drafty🙄)
Daryl Davids says
I wouldn’t get to excited Steven, they have gone into administration.
https://www.fca.org.uk/publication/supervisory-notices/first-supervisory-notice-uncle-buck-finance-llp-2020.pdf
Steven says
Awww no way, absolute bampots!!! I’ve not seen anything on here about this, thanks foe sharing buddy. I knew they were delaying everyone because of this. I’m not overl6 bother about refund, more getting the default off my file so at least that’ll happen.
Sara (Debt Camel) says
That was the first I knew of it too.
Rob says
I had a refund offered and accepted by them on 18th March, payment made within 7 days.. I hope I got in there before it was too late.
Sara (Debt Camel) says
Technically they are not in administration yet but they have stopped lending and the notice from the FCA yesterday https://www.fca.org.uk/publication/supervisory-notices/first-supervisory-notice-uncle-buck-finance-llp-2020.pdf says
“On the basis of the facts and matters described below, the Authority considers that it is desirable to impose the requirements because it has concluded that the Firm is failing to satisfy the appropriate resources Threshold Condition.. the Authority considers that this action is necessary to preserve the financial position of the Firm until such time as it can apply for the administration of the Firm.”.
so that looks like administration is imminent.
Michelle says
Hi Sara hope you are well, do you know anything about 118? I put in a claim last month about the top up loan and now website down my payment was meant to come out today but it hasn’t I’ve not cancelled it? Thanks
Sara (Debt Camel) says
There is a rather odd message on their website which makes it look as though someone hacked into their system. I don’t think they are taking payments from anyone at the moment, so I wouldn’t worry about it.
Michelle says
ok I just don’t want a late payment against me I’ll wait and see what happens. With the claims at the moment as it’s coming up to 8 weeks for my 118 one would I just give them a few weeks longer with the Coronavirus situation?
Sara (Debt Camel) says
no, I would send it to FOS at 8 weeks.
Keeley says
Well day 19 still no refund from lending stream, although every time I email or call my date gets extended!!!’ Originally due 31st March then told 2nd April and now it’s the 3rd??? Are they allowed to do this? You think if they can give you a loan in 10 mins they should be able to process the refund quicker than 28 days
Dan says
Hi, just a quick question, I’ve accepted the adjudicators decision on my lending stream loan, he said lending stream will contact you to settle the complaint directly.
How many days did it take you for lending stream to contact you?
Keeley says
I put my original claim on the 21st January they emailed me on the 3rd March but I am still awaiting my refund
Keeley says
Ok so lending stream is closed! Understandable given the current situation, but refunds are being delayed this is shocking given that some people are now going to be desperate for money especially if it’s owed! But yet they are still giving out loans
Rachael says
It says on the answerphone they are making changes and will be back as soon as they can. They are probably putting things in place to work remotely
Pee says
Sara.
If Uncle Buck have gone into administration can I now cancel my CPA that I gave given them to collect my payments each month. I have a repayment plan with them. I’m sure other readers of this will want to know as well. Can you advise please????
Sara (Debt Camel) says
do you have a complaint in with them or with FOS?
Pee says
No. I only had one loan with them.
Sara (Debt Camel) says
well you still owe the debt then. If you had a claim against them , you would have the right of set off, but as you haven’t this is a debt that still exists. the adminstrators may want you to carry on paying them or to sell the debt.
PS they aren’t technically in administration yet but they have stopped lending and this notice from the FCA yesterday https://www.fca.org.uk/publication/supervisory-notices/first-supervisory-notice-uncle-buck-finance-llp-2020.pdf says “On the basis of the facts and matters described below, the Authority considers that it is desirable to impose the requirements because it has concluded that the Firm is failing to satisfy the appropriate resources Threshold Condition.. the Authority considers that this action is necessary to preserve the financial position of the Firm until such time as it can apply for the administration of the Firm.”.
Pee says
Ok thanks.
ab says
The supervisory notice also mentions that the loanbook has recently been sold so I imagine most if not all debts are still payable
Steven says
So does this mean I’ll get anything of a £1500 claim? I accepted with ombudsman yesterday and sent 2 emails to UB to confirm bank details before I seen this….
Sara (Debt Camel) says
I don’t know, but I suggest keeping your hopes low.
Endija says
Hi! I have a successful claim of Sunny. They partially agreed to refund me many loans. They said refund will be paid within 30 days. Is it usually takes that long time?
Alex F says
Hi Endija. I have also applied to Sunny, but I have only asked for interest.
Have Sunny agreed to refund you full loan amounts, or just interest?
thanks
Sara (Debt Camel) says
People often say “a loan is being refunded” because it’s quicker than saying “the interest on a loan is being refunded”.
It’s VERY VERY rare to have the whole loan amount refunded. Much less than 1% of refunds. You did right to only ask for a refund of the interest.
Morgan says
I’m on day 14 waiting for a refund from sunny x
Alex F says
Good afternoon Sara.
I am really struggling to get many companies to give me a positive reply, I feel I am in the same or a worse position than most of the people on these forums who have received refunds. I have had over 60 loans from 12 different companies from 2012-2016. The only company to reply positively was Safety Net credit, who agreed to refund ALL interest and I have had an offer of £150 back to my bank account.
Am I doing something wrong when asking these companies for a refund? I have referred all to the FOS. I had family bail me out of tens of thousands of pounds and I rolled over many loans and often had 6 or 7 payday loans at one time.
Any advice would be appreciated, in dealing with the FOS moving forward.
Sara (Debt Camel) says
It’s case by case I am afraid. Can you list the lenders and say for each lender how many loans you had and how many rollovers there were.
Vix says
Hi, could I get some advise?
I’ve just had an email from FO to state that sunny should pay back interest on loans 5-42, and 8%
They have till 9th April to respond what is likely to happen?
Sorry I’m a bit confused by this? Will they make an offer? Or just pay what FO have said I’m owed?
Sorry if I don’t make sense I have learning difficulties
Nick says
Expect it to go another two weeks before they respond. They were given until 13th March to respond to my adjudicator but they ignored that and so they were given another two weeks. When I spoke to sunny they informed me they would get back to my adjudicator before the end of work on Friday. I will let you know if I hear anything tomorrow
Turtle says
It depends if it’s from an adjudicator or ombudsman. It will say at the bottom of the letter/email.
Pee says
Vix. If your reply was from the ombudsman he has told Sunny they need to give you redress. Which is a refund on interest paid on your loans. Plus an extra 8%. So more money for you. They have 2 weeks to disputes that. If they don’t you’ll be asked to nominate a bank account you want your money paid into. They have 28 days to do that and usually take the full 28 days.
So your due money back. Hope this makes sense. If you don’t understand what I have put. Just ask me. And I will happily explain again for you.
Vix says
Thank you, this is the adjudicator atm so sunny could say no?
I’ve worked it out to be around 4K before the 8% where does the 8% come from? The total off loans or just the total off intress?
Our adjudication lady is very nice but I still don’t get any off this, and after the money we lost out on with Wonga I want to sort this soon
Keeley says
Well day 20 and I got my refund from Lending stream, couldn’t have come at a better time! I did email the CEO but to be honest not sure that made a difference!
A BIG thank you to Sara without this site I wouldn’t have got anything
Steve says
Hey Keeley,pleased you have your refund.
Did you receive an email prior to your redress or money just put in bank.?
Keeley says
No not received anything !
Steve says
Thanks for replying.
Stay safe spending your money x
rachael says
Great news!! nice to know they are still carrying on with refunds….. I’m on day 12…. keeping everything crossed it comes soon!!
Steve says
I had a bit of hope too from Keeley day 20
I’m on day 21 now 🙄
Good thing is tho if or when it gets here I can’t really spend much of it at the mo 👍
Keeley says
Technically I was on day 24 but they put my payment back 4 days not sure why? Fingers crossed you get your soon! At least my payment will cover my wage for the foreseeable.
Stay safe everyone
Scott says
hi, just wondering if you guys received any follow up emails after accepting the refund offer?
Steve says
Scott…⬇️⬇️⬇️⬇️
I haven’t heard anything since I accepted except the confirmation email of my bank details,and to say payment will be made within 28 days.
Lee sharratt says
Good evening. Do u think all will still go ahead with money shop in April? Any chance they could bring forward a bit? As some people will struggle and could do with the recess asap
Sara (Debt Camel) says
Claims have to be in by the end of April. they hope to pay out this year – that means end of this year. No way is anyone going to get any money soon.
Diddy says
Hi Lee
Nothing paid out yet, they said before or on 31st march although with what’s happening at the moment I suspect that the deadline will slip.
I included in my redress figure 8% and they made no mention of it, just agreed with the figure. They never mentioned tax, forgot to ask them….
Glad they accepted your claim though, great result, well done.
Lee says
Hi Diddy
I replied asking for some information as to how they reached that figure and enquiries asto wether 8% will be added.
I have just had a response simply asking for my mobile number to explain, as a rule I tend to keep everything to email but I’ve sent my mobile number anyway so will wait and see!
I’ll keep you updated when I know more.
Lee
Diddy says
Please do Lee, will be interested in what they say. Good luck.
Payday tomorrow, hopefully!🤞
Lee says
Ok so I had a reply but no phone call.
They have used the phrase “for the avoidance of doubt” and as I understand it they are saying the claim hasn’t been properly adjudicated and they made their offer based on what I asked in my initial email.
They then added 8% which totalled £20.52?
If I would like them to relook at the claim I need to submit further information before 3rd April.
I KNOW FOR A FACT I paid more than £300 in fees but providing information more than I have already provided is not possible?
I think I may have to be greatful here and close the claim £300 better off than I was before I started?
I’m more annoyed at myself for putting a value in my claim (as requested) that was much lower than I believe it should be, I was really relying on them to do their own research to find this out but it seem this has not been the case?
Any thoughts please?
Thanks again.
Lee says
Hi Diddy
Any news on payment?
I had some time to think on my claim and I think the interest calculation was very wrong.
I have not asked them to revise my claim but to revise the interest added.
You may wish to look into this yourself with your claim too?
Lee
Diddy says
Hi Lee
Money was in my account by 5PM yesterday so they kept their word.
I calculated it as the normal 8% and included it within the final figure which they accepted and paid. Was happy with what I got, another one down.
Did you receive payment yet or still waiting?
Diddy
Lee says
Great news, I’m really pleased for you!
Mine has not been paid yet but that is not their fault as I guess if I had simply replied to their email accepting the amount they offered then it would have probably been paid yesterday too.
I must say they have been very good to deal with throughout and I’m sure they will pay, my claim is relatively small I would imagine.
I emailed them this morning asking for statutory interest at 8% to be added as I do not see how the £20.52 they added could be correct.
I’m hoping they will simply reply with the new amount to be paid with the correct interest amount added.
Well done again!!!
Diddy says
I’m sure it will come through quickly as they would probably want to wind it up.
They have been very easy to deal with, glad everything went quickly and painlessly.
Good luck Lee, hope everything gets sorted for you quickly.
Now to do battle with lending stream, adjudicator finally picked up yesterday after a 6 month wait 🤪.
Lee says
Sooo looks like I’m not getting any interest!
I have had the below response just now…..
Although we try to help as much as possible, unfortunately we only have access to limited information. As this is the case, we have consulted with management and the Financial Ombudsman and agreed our approach to the adjudication process.
In relation to your question around interest, a valid mis-selling claim results in the return of all interest and charges imposed on the capital amount borrowed. Therefore, the principle amount claimed of £300 reflects all interest and charges applied to your account during that period. Statutory interest is an additional amount applied to claims paid within a liquidation. However, we are only required to apply 8% to your claim from the date of liquidation, being 8 April 2019. On this basis we have applied the additional £20.52 representing statutory interest to the principal amount claimed.
Guess I’ll be greatful in getting something back but this just not seem right!!!
Good luck with Lending stream Diddy!
Diddy says
I agree Lee but I am grateful to get anything back as it wasn’t expected. This was a smaller case for me than others, Wonga/WDA. If they hadnt gone bust, I could have recouped over £10,000 but it wasn’t to be.
I feel your frustration and agree it isnt right but they have limited information which makes me wonder what EPDL did with their accounts!
Lending stream will be a nightmare for sure, still this is nearly over for me (only Money Shop and QQ to go), grateful to be rid of them all.
Good luck Lee.
Sara (Debt Camel) says
are you saying you put in a complaint and asked for specific amount as redress/
Lee says
it was a condition of the claim to put in an amount I was claiming for and as it was goodwill of them to extend the deadline I complied.
I did state I wasn’t sure but it was at least £300 and asked them if they could work it out.
The offer was £320.52 which today they have said is the value of my claim with £20.52 added as the interest, surely this calculation in its self is wrong?
I can only find details of 3 loans and it does not include deferrals so I think it’s best to accept this one?
Sara (Debt Camel) says
“it was a condition of the claim to put in an amount I was claiming for”
who imposed this condition?
Lee says
The administrators
“We require you to complete the Proof of Debt that you previously received, clearly stating a pound amount you are claiming. “
Sara (Debt Camel) says
this is the Money Shop?
Lee says
No sara apologies if I’ve caused confusion, this is EPDL administrators.
Due to pay out any day I think.
The emails are from capfin ltd
I can’t see any way to prove I paid more than £300 so I may just reply accepting it, however I am confused by the addition of the £20.52 which they say is the interest added to my claim value.
Surely over at least 6 years it would be more.
Sara (Debt Camel) says
ah ok -there was a Lee commenting just above you about the money shop and I assumed you were the same person.
OK, if you put in a claim for an amount then that is what you are being given. The extra will probably be statutory interest added on – that would have stopped accruing when the company went into administration – I don’t know what date that was.
If you are being told you can provide extra information by 3 April, then why not?
Lee says
Great news I’ve just been paid by the administrators for EPDL 🙂
This has prompted me to get on with some other claims I should be due redress for!
I was sure that I responded to the administrators of WageDay Advance however my last correspondence from them was then when I registered my claim, is this the case with others? Surely I should have heard something back by now given that they are supposed to be paying out next month?
I am going to send claims to some of the others I have outstanding loans with too, some are in default and some I am still paying! However I only have taken 1 or two loans with these so don’t think it will be easy!
Good luck all ☘️
Diddy says
Great News Lee, so happy for you.
I haven’t heard from WDA since around a November time so would expect to hear something in May when they are due to pay.
Good luck with the rest, don’t give up as there is no harm in trying. 😁
Christine says
Hi Sara I have a repayment plan set up with Safety Net Credit for £18 per week which I am up to date with. I also have an affordability complaint in with them. This morning they have taken £705 from my bank account as my wages have gone in which will leave me unable to pay my Bill’s.. The transaction is showing as pending, I have rung my bank to stop it but they cant. I have emailed Safery net to request they stop the payment and apply for the correct amount of £18. Will call them when they open at 8am but dont hold out much hope of getting through. Do you have any suggestions?
Sara (Debt Camel) says
Oh dear, this used to be a big problem with them but no one has reported it for a while. This is why I always say people should tell their bank to cancel the CPA to SNC. You can set up a standing order for any payment arrangement.
I hope you can get the money back. If not, cone back and we’ll talk through what bills you have problems with and. Your options.
C A says
I had an email off LS last night saying I had successfully repaid my loan!! They have been on my dmp since 2011 and I only pay a few pounds per month to their debt collection agency. I complained to them last year but they made a ridiculous offer of saying the first loan I had with them that I repaid in full on time was unaffordable but the 2 later loans that I defaulted on were affordable!!!! I’m still paying these back 9 years later. The email said I’d made the majority of payments back and there was only a small balance left but my balance was still over £700. I sent my complaint to the FOS months ago as I borrowed £680 in total but have so far paid back over £2000. I’m still waiting for my complaint to be picked up by an adjudicator. When I logged on to my account it showed both loans repaid in full as of yesterday’s date. Have they done this with anyone else?
Lilly says
Does anyone know what time saftey net normally pay out? Was told I will be getting my refund today but was wondering what time this normally happens?
Turtle says
Hi Sara,
Question for you if you don’t mind.
My adjudicator wrote to Provident In January and recommended a refund. They had until 12th Feb to reply and still haven’t to date. The adjudicator has said this will now to an ombudsman to review. Does this mean it goes in the queue and I can wait the normal time length for a decision?
Thank you
Catherine says
If this is satsuma then email fos.complaints@provident.co.uk to chase up first.
Karl says
Hi I won a case with 118money and it was suppose to be refunded to me by yesterday, I have tried contacting them all week and it says there system is down they only have a live chat running and I can’t get and information from there! Any advice on this? Thanks
Amy says
Hi,
Lending stream have agreed a refund of £1064 just wondering how long they normally take to pay out?
Rachael says
Normally 28 days…..I’m on day 12 at the moment
Amy says
Im on day 12 today!
Liam says
Sara or anyone.. I have two cases where yesterday was the final response due date of 8 weeks, one with 118 and one with Satsuma. Satsuma have emailed to apologise for not having got back to me and said they’re still looking into it but I can now go to FOS, whereas 118 have just gone silent but I appreciate they had website issues recently.
Sara; I saw you recently advise someone to go straight to FOS with one firm last week, I think Satsuma, but to hold off with anyone from going straight to FOS. Why was that, surely the moment you can go to FOS you get the ball rolling as the 8 weeks has past?
Sara (Debt Camel) says
oh I would send 118 straight to FOS at 8 weeks too. They don’t often give reasonable offers.
William says
Can you ever negotiate with a lender over their final response over the phone, before sending it to FOS?
Sara (Debt Camel) says
You can try – who is the lender?
Mike_p says
Uncle Buck is officialy in administration now.
Rob says
I had an email today after chasing my redress payment to say I’m in a list and it should be imminent..
Hopefully as it’s allocated payments these won’t be held..
Steven says
Absolute bandits, aww well… £1500 would have been good but I’ll be glad just to have the default removed from my file. I even left them a trust pilot review 6 months agosaying I knew what game they were playing by making us all go all the way to the ombudsman and they would be out the game soon… They replied with their usual nippy attitude “We can assure you we are no where near administration” I had a look at their companies house returns for last year… Huge turn over, tiny amount of asset’s, so we’re going to see next to nothing back.
Laurence says
Uncle Buck is the absolute worst, they knew exactly what was coming months and months ago. £4,500+ I’d it be looking at in another few weeks at most.
I hold the FOS partly to blame on this, they have been terribly slow, changed adjudicators, wasted huge amounts of time for now valid reason. £4,500 will be more like £45 in a years time
Steven says
I feel the same…. It’s been as clear as day for the past year what was coming… Very poor working from FSA FOS and yet again we’re all let down. My ombudsman agreed with my adjudicator the day before they went under… Not a coincidence…. For me loosing the £ is one thing but it’s now this over 12 month wait to have the negative markers removed from my Credit Files that’s the really sad but for me.
Laurence says
Mine had totally gone round the houses at FOS. Passed from person to person new adjudicator etc etc. The delay has not been good enough. I know they are inundated I totally get that. They lost my bank statements and all my paperwork which I sent them 8 months ago. I arranged for everything to be sent to them again (with a new adjudicator who started from scratch unbelievably) I basically did all the work for them. So annoyed by this. I was waiting for them to go under and just hoping it would get through. Now all agree and payment to be processed and now…. we’ll nothing
James says
Just got knocked back by the FOS for MyJar.
They said —”I’ve reviewed all the limited evidence provided by both sides in this case and I’m not upholding your complaint. I cannot reach a sound conclusion based on the information visible on this case that MyJar provided these loans irresponsibly.”
The initial complaint including a table of 8 lenders, 36 loans overlapping each other during a 14 month period in order to paint a picture of my financial health at the time. I said if they had checked my credit report they would of noticed a trend of multiple loans, from multiple providers overlapping each other.
They said —”Our website sets out what we typically think about when deciding whether a lender’s checks were proportionate. Generally, we think it’s reasonable for a lender’s checks to be less thorough – in terms of how much information it gathers and what it does to verify that information – in the early stages of a lending relationship”
The concluded with — “There wasn’t anything in the information you provided or the information Myjar should’ve been aware of, based on the limited information available that meant it would’ve been proportionate to start verifying what you were saying. Finally, I don’t think that the number of loans you took, the amounts they were for or the period of time you were borrowing meant your loan history, on its own, should’ve shown Myjar you might’ve been experiencing underlying financial difficulty.”
Any ideas?
Sara (Debt Camel) says
so how many myjar loans did you have, how large were they and what were the gaps between these loans?
James says
5 loans increasing in size from 200-400. Some loans were days or a couple of weeks apart.
Sara (Debt Camel) says
ok with only 5 loans, let’s have all the details. how large was each loan and what was the gap from repaying 1 until taking the next one out. eg, 200, 8 days, 120, 26 days, etc
James says
Yes, of course. It was actually 6 loans. I paid back all 38 loans apart from 2 (Wonga) and I had my redress.
Sep 2013
23/09/2013 Wonga £1,089.00
27/09/2013 247Mon £230.00
27/09/2013 MyJar £200.00 **
Oct 2013
23/09/2013 Wonga £1,084.00
24/09/2013 MyJar £200.00 **
25/10/2013 247Mon £300.00
Oct 2013
23/10/2013 Wonga £1,084.00
24/10/2013 MyJar £200.00 **
25/10/2013 247Mon £300.00
25/10/2013 MyJar £250.00 **
Nov 2013
05/11/2013 MyJar £350.00 **
11/11/2013 PiggyBa £100.00
22/09/2013 Wonga £1,084.00
29/11/2013 247Mon £300.00
.. more loans ..
Apr 2014
10/04/2014 MyJar £400.00 **
16/04/2014 MrLend £600.00
18/04/2014 247Mon £580.00
28/04/2014 UnclBuc £650.00
Sara (Debt Camel) says
So I think that loan 4 & 5 should have been considered for refunds. Not 6 – too long a gap since the previous loan. I suggest you ask for the case to go to an ombudsman.
James says
Thanks for that Sara.
The FOS ruled in my favour re: Unclebuck, Wonga and Piggybank. And Mr Lender settled with me outside of the FOS. I just wonder why MyJar seem to be fine.
N says
Hi I had an unaffordability complaint in with uncle buck. Now they’ve went into administration what will happen with this?. This week would have been the 8 week deadline and I only ever received acknowledgement of the complaint. Thanks
Sara (Debt Camel) says
do you still owe them any money?
N says
Hi no I dont owe them any money just have a complaint in with them regarding previous loans. Just wondered do I deal with UB or their administrators now?. Thanks
Sara (Debt Camel) says
You will now not be able to send the complaint to FOS.
The administrators may ask you to submit a Claim or they may treat your exisiting complaint as a Claim.
Then they have to find a way to decide which claims to uphold – that is usually a computer program.
But you are now only likely to get a small proportion of the assessed refund back and that will be after a very long process.
Paul l says
Literally one day left in my 8 week period since raising my affordability complaint, I have received an email from lending stream advising that due to the coronavirus outbreak they envisage requiring a further 8 weeks to review my complaint.
Should I hang fire or go straight to FOS?
The email says FOS and FCA are aware of the change in their complaint handling process ( it doesn’t necessarily mean they agree with it though)
Thanks Sara for all your help, I’ve had some positive results with other companies thanks to your advice.
Sara (Debt Camel) says
I suggest you send it straight to FOS.
Scott says
i got the same email but they had already sent me my final response with a refund amount on 20/03
RS says
I’ve had exactly the same email and was going to ask the same question. My 8 weeks are up on 31st March.
Steve J says
Hi Sara,
I’ve got an active complaint with Lending Stream at the moment (6 weeks lapsed) and they’re just emailed me saying under the current situation they will require an additional 8 weeks to assess the complaint. It then mentions that the FCO and FCA are “aware” of this change in deadline, do you or anyone else have an information on the situation and if “Aware” means the regulators have signed off on this or are LS trying their luck to buy a bit more time?
Many Thanks
Tania says
I got the same email, but I already accepted a settlement offer on Saturday, so I have emailed back querying it.
Paul says
Just had the same email from them
Karen H says
Hi Steve & Sara,
I have also received same response from Lending Stream in the past hour. I guess everyone is affected by the coronavirus outbreak so I’ll give them the benefit of the doubt. I’ll be checking in on here though in case anyone posts something to the contrary! Most helpful site Sara! Take care & keep safe everyone.
Akram says
Hi Sara (Debtcamel),
Hope you are keeping well.
I found out yesterday that Cash Genie tried to send me a cheque back in August 2015, it was for unfair practices rather than affordibility (Ariste Holding Limited, trading as Cash Genie, has entered into an agreement with the FCA to provide over £20 million redress to more than 92,000 customers for unfair practices). I’ve tried to contact Cash Genie but have had no luck and i called the administrators yesterday and they asked me to call back on Monday. When i click on the FCA link it says ‘Cash Genie has voluntarily entered into a solvent liquidation. The firm handed over to liquidator RSM Restructuring Advisory LLP on 5 January 2016. This will not affect the payment of redress to customers.’.
My question is a) Will it be RSM i need to contact about the cheque and b) whether you think i’ve left it to late. I used to use Cash Genie quite a bit and so i’d imagine the payout is likely to be the 000’s rather than 00’s.
Also many thanks for the help on your site, i sent complaints to all payday lenders and in total have recieved or due tor recieve over £11k in total. Got a bit of fortune as received my refund from uncle buck about 2 weeks before they went into administration!
Thanks!
Akram
Sara (Debt Camel) says
Yes contact RSM but this is incredibly late, I have no idea if there is any chance of getting any money now.
Akram says
Thanks Sara! Do you know how long cheques are valid for? Is it 6 years or have I just made that up!
Sara (Debt Camel) says
But you don’t have a cheque, do you… If a cheque is written on an account with no money in it it will bounce.
Sue says
118 118 have still not fixed their website, app or phone line. It’s been at least 10 days now. People have left comments on trust pilot about direct debits not being taken and the reply is use this bank account. I have no intention of transferring money to a bank account based on that. My question- if they do go into administration what happens to the money you owe them? I wanted to repay my loan early to save me a few months interest. Will the interest be frozen at date of administration- if indeed that is what happens? Seems strange to take so long to fix their systems.
Sara (Debt Camel) says
how long to go until your loan ends? Were the payments affordable?
Karl says
Is there word of them going into administration?
Sara (Debt Camel) says
no.
Stacey says
118 sent me an email stating they were hacked and people’s details have been compromised so I’d be careful
J says
118 are a shambles. I left a trustpilot review because they are refusing to uphold my complaint and now they have allowed fraudsters to hack peoples details. Sent my case to FOS probably get knocked back aswell
Sue says
3 months to go. I got a refund from my jar so used it to pay off Sunny and wanted to pay this off too to reduce payments to use against my credit card. Yeah on paper it was affordable.
Sara (Debt Camel) says
if you ask for a settlement you normally pay interest for the next couple of months anyway, so you will save very little.
Karl says
I got this response from sunny,
you had 32 Sunny instalment loans throughout your entire lending relationship with us (please see attached Loan Summary Sheet(s) for further details);
ii. taking into account all loans you were charged interest for more than 24 months; however
iii. during this time, your average loan amount was less than £150; and
iv. the total amount of interest you have paid is more than 25% but less than 50% of the capital advanced to you; and
v. you never fell into arrears (namely you made your repayments on time or within 7 days of them falling due)
Is this really just to dissuade me from taking it any further? I was getting loans from wonga at the same time, sometimes to pay off sunny and vice versa, sometimes getting a sunny loan, paying it off 3 days later when I got paid then the next week getting a loan for a similar amount but for 4 months or so etc
Sara (Debt Camel) says
They are trying to suggest you have a weak case. But it is common for people to get a refund for many of their loans from FOS when they had 32, even if they weren’t large.
if Sunny have rejected your complaint, then you haven’t got anything to lose by asking the ombudsman to make a decision on this.
Ian says
I recently got a response from 1 month loans (which I think Is sunny?!) saying that they didn’t uphold my complaint but they’re offering £230 as a goodwill gesture. I initially calculated around £800 in my complaint but I decided to take the Gesture as I’m could really do with the money and I don’t want them to go into admin while I’m still fighting.
I’ve now just got LS to sort out and that’s with the FOS and then my journey is done. Thanks a million Sara, I’ve had several hundred pounds back I never thought I’d see again and it’s literally all thanks to you.
Everyone stay safe in this crazy world. 👍
C says
1 month loans appeared on my bank statements but I wasn’t sure who they were? Should I complain to Sunny?
Adam says
I got my latest credit report from Credit Karma and I have seen that my last loan with Satsuma has been moved to settled but none of the adverse information has been removed. The adjudicator said any adverse information should be removed. Case was settled in early December. Who should I contact about this?
Sara (Debt Camel) says
Satsuma. Give them a month to sort it and then go back to your adjduicator.
Mr Stephen Reeves says
Any way of speeding lending stream up with their refund I’m 14 days in and still not recieved it I’ve left negative feedback on trust pilot daily and emailed them directly with nothing
Rachael says
I’ve just had the decision on my case extended for another 8 weeks due to the Covid situation
Just sounds like delaying tactics to me as the decision was due tomorrow!!
They’ll use any excuse in the book
Crooks the lot of them
Mike_p says
Who said that, Lending Steam? If so send it to the FOS anyway after 8 weeks as Lending Steam reject most companies anyway.
Rachael says
Yep. Got an email yesterday.
Fuming
Mike_p says
I wouldn’t get too worked up about it, the chances are they would have rejected it anyway. Just send it to the FOS once the 8 weeks are up.
Tania says
I got the same email and my settlement had already been agreed. I have emailed for clarification.
Mike_p says
They are deliberately slow and obstructive and nothing will speed them up in my experience. They seem to ignore anything negative on Trust Pilot.
Timboyk says
Hi
I’m am the same day 14 today. I would hope that the current situation should delay my redress payment as it was agreed before the current CV crisis. Let’s hope it is this week! I’ve seen comments they often pay out around day 18/20.
Rachael says
I’m on day 14 as well….I had an email from them when I accepted redress to say my refund had been initiated and that was 2 weeks ago so hopefully it will still go through ok…..fingers crossed, good luck guys
Jane says
An adjudicator partially upheld my complaint with MyJar. They had until 25th March to respond. I have heard nothing. Are the FOS/Myjar still working. Not sure due to the current situation.
Sara (Debt Camel) says
FOS are now working from home. I assume Myjar is too.
T says
Hello all. I’m due a payout from sunny but when they emailed me they stated it would take up to 30 days. Looking on here everyone is saying theirs was meant to be paid out in 14 days. Anyone else’s taken as long as mine?
Joe says
I am also waiting for a refund from Sunny. In their email with the offer, they specified that it would be 14 days. But they told you 30 days?
T says
Yeah 30 days for me. I’m on day 17 so hopefully will go in soon!
GS says
I’m on day 18 of 30, as per what their time-frame given.
Morgan says
I’m on day 21 this post has made me feel better because l was really starting to worry that I wasn’t getting paid
Dave says
Hi Sara
I have had my complaint against peachy with the FOS for around 6 months.
I received an email from FOS stating Peachy have gone in to administration so I would need to take it up with them.
Is this correct ?
I emailed Peachy making them aware but they have replied stating they have provided FOS will all the information for them to look in to it.
Does this mean my complaint is dead in the water due to the administration
Sara (Debt Camel) says
what FOS have said is what normally happens. You could ask them to look at the mail you have been sent by Peachy, which sounds odd.
Rodney says
Hi Sara
I have had an adjudicator uphold a complaint an Uncle Buck Complaint. Which has been passed to an ombudsman for a final decision around 2 months ago.
I have now learned Uncle Buck have gone in to administration.
What will this mean for my complaint?
Rodney says
Uncle Buck did’nt agree so it went to an ombudsman
Sara (Debt Camel) says
your complaint will be passed back to the administrators to settle. I am afraid you may not end up with much, keep your hopes low.
John says
Hi Sara – I’ve had a complaint upheld regarding LS by the FOS and LS have agreed to settle the amount the FOS adjudicator said they should, and this has been confirmed and LS have said they will pay within 28 days – the question is ‘if’ they happened to go into administration before I’m paid am I correct in saying that I would be classed the same as everyone else and have to wait to be paid a much lower value?
Sara (Debt Camel) says
yes that is correct.
Dan says
Hi just quick question
I’m around the same stage as you, ls have agreed with the adjudicator decision, my adjudicator said ls will contact you to settle your complaint.
How long did it take to LS to get in touch with you after the adjudicator upheld?
frogman says
Hi Sara, I borrowed £200 from UncleBuck in April 2018. I have paid £231 in total so far and the balance owing is still showing £168. any ideas on how to go about this? Payment is still going to them from my DMP. If I could get the defaults removed my CF, that would be magic.
Thanks
Sara (Debt Camel) says
was this the first loan you had from UB?
frogman says
Yes, Sara. the one and only loan I took out from them.
Sara (Debt Camel) says
then it’s unlikely you will an affordabilty claim.
frogman says
Thanks Sara, as they’ve gone into administration, so I still need to continue making the DMP payments?
Sara (Debt Camel) says
yes, the loan still legally exists.
Annie says
Hi – safety net upheld my complaint and advised I was due a refund of £241. I chased this up on Friday and they advised it was being paid that day.
The money didn’t arrive so when I chased this morning they have come back saying there was an error in my full and final settlement letter and they will wipe the balance but no refund is now due.
Any ideas what I do here?
Sara (Debt Camel) says
How much interest did you pay them? what balance is being wiped?
Annie says
I owe them £880 and had paid interest of £1490 so I knew the refund amount wasn’t the full interest but I was happy to settle as it wasn’t too bad.
Sara (Debt Camel) says
Then I suggest you reply that you accepted their offered settlement and unless they pay you that you will be sending your complaint to the ombudsman. And cancel the CPA to them at your bank so they can’t take any money from you.
Annie says
Thanks Sara I certainly will do.
Dave says
Hi Sara
I raised a complaint with Moneyboat loans
The 8th week ended Friday , given the country situation
Shall I wait , or is there something I can start – what would you recommend
Thanks
Sara (Debt Camel) says
how many loans did you have with them? do you still owe any money? are you making any payments?
Dave says
Over 4/5 years I’m not sure , about 10-15.
I do not owe them anything at the moment , everything paid off
Sara (Debt Camel) says
That sounds like a complaint then. MB often don’t make good offers, so i suggest sending it to FOS now. Or you could tell them it goes to FOS in a week if you haven’t had a reasonable offer back from them.
Mr Stephen Reeves says
I’ve left 15 bad reviews on trust pilot and not a single reply from lending stream in regards to my refund
Rich says
Why would you spam 15? If it hasn’t been 28 days yet then it is out of order from you for no good reason
sonya says
Hello! I have had a final letter from Sunny today offering to write off my outstanding debt with them to the sum of £674.82. Not sure whether I should accept this pr push further? I part of their response
By way of background, we undertook the assessments detailed below before we granted credit to you and note that:
· you had 49 Sunny instalment loans; and
· taking into account all loans you were charged interest for 40 months; and
· there were no significant increases in Sunny Loan amounts granted to you;
· your monthly income was verified by CRA data when you first applied to us;
· you were required to use 13% or less of your monthly income to make your contractual repayments to Sunny (even where you were repaying more than one Sunny Loan at the same time);
· there is an outstanding balance on your account of £674.82
Interest on our loans (whether running account or instalment) has always been charged on a daily basis and since January 2015 has been capped in accordance with the FCA’s rules. In addition, we have never charged default fees or any other type of fees on our loans.
Sara (Debt Camel) says
This sounds like one of Sunny’s very poor offers.
do you know how much interest you have paid on your loans? if you don’t, tell Sunny you would like to consider thir offer but you need to know how much interest you have paid.
Sonya says
They sent me this regarding the interest a couple of weeks ago
In the meantime I can confirm that as you have borrowed a total of £22,650 and repaid £24,267 you have only paid £1,617 in interest, your outstanding balance is £674.82 and so if you repaid this in full the total interest paid by you across all loans would be £2,291.
Sara (Debt Camel) says
so you would be likely to get some refund if you take this to the Ombudsman, at least a few hundred, possibly more than a thousand.
The loans sound to have been quite large (average over £400) but often short term?
sonya says
That os exactly it. Some to the tune of £900!!
Sara (Debt Camel) says
then I think you should send this to FOS. As Sunny has offered to wipe your balance, the chance of you getting less than this by going to FOS with a 49 loan case is very, very small.
And if you are still paying them, I suggest you stop. This will mean you are more relaxed about the time the case takes to go through FOS. It will harm your credit record, but
(a) my guess is it isn’t good at the moment and
(b) any negative marks will be removed from the last loan(s) when you win you complaint.
Susan Brown says
I have received an annual statement from wageme. It looks like they have been sending me this annually for a couple of years but not had anything about paying it back. I am in serious financial difficulty and wondering if I should just leave it for now as it doesn’t seem defaulted in my credit file or even be in it. Any advice?
Sara (Debt Camel) says
have you looked at your credit records with all three credit reference agencies? See https://debtcamel.co.uk/best-way-to-check-credit-score/ for how to this for free.
Was this the only loan you had from them?
how bad are the rest of your finances? By ignoring a loan you risk it popping up in a couple of years time, often better to face up to your situation now…
Susan Brown says
I think it was the only loan I had from them. I am in a debt management plan but must have missed this one at the time as I didn’t realise it existed which I know sounds unbelievable but I was mentally not well at the time. Probably I should just add it to my debt management plan
Sara (Debt Camel) says
that is probably the best thing to do. How much do you owe on your DMP and how much are you paying each month? is interest frozen on all your DMP debts?
Susan Brown says
Lending stream – I sent a complaint to the financial ombudsman. Despite having 2 loans simultaneously, they looked at the incomings I had given lending stream (which were correct). Then calculated the amount I would pay back per month. They thought on the income it was affordable. They have not upheld my complaint. I don’t have my credit record from that time as I took them out in 2013 and we are now 2020 as my credit record certainly told a different story. I thought it worth a try but without the proper evidence I have been unsuccessful.
Sara (Debt Camel) says
it is hard to win a 2 loan complaint unless the amounts were very large.
Nick says
Hey guys just an update for you all on sunny. So adjudicator agreed in my favour and gave them until the 13th March to respond which they ignored so they were then given until 27th March I emailed them including the CEO and they told me they’ve not missed any deadline because they had until 27th March and they would respond by then. I have just spoken to my adjudicator again and they still have not responded so I have sent them another email. The FOS did say that they are struggling to get any response from the company at all at the minute so we will wait and see… will keep you all updated if I hear anything else
SK says
Hi. Unfortunately, I have a similar situation going on as they didn’t respond back to my adjudicator. I am now waiting on an ombudsman to take on the time but I’m unsure how long the wait will be until they are assigned. Hope they don’t go into administration. Please keep us posted if you have any further updates. Thank you
Nick says
Yes of course I will let you know if I hear anything how long has yours been in the queue of the ombudsman?
SK says
Thank you. My adjudicator informed me on 20th March – therefore, I’ve waited just over a week now. I’m not entirely sure what the expected duration is for cases being solved with the ombudsman but mine hasn’t been assigned yet so hoping for the best in the coming weeks. Good luck to you too!
Chris says
Hi. I used a 3rd party company but for reference it has been with the ombudsman for approaching 12 months (2 adjudicators have looked and they have given me to April 2nd to question anything (it’s all fine) and then they make their decision).
Hopefully you get a speedy response but brace yourself for it taking a while
Kelly says
For anyone waiting for their refund payments from MyJar, I’ve just had mine drop in to my bank today, So obviously they are still working/working from home. What helped me get my payment quicker was leaving a bad review on their TrustPilot page.
Hope this helps someone.
A big thanks to Sara for this website and her advice and support.
RS says
Hi Kelly, how long has it taken them to refund you since providing them with your bank details?. I provided my bank details to them last Wednesday so they could process the refund payment.
Kelly says
Heyy, So I received, signed and sent them my settlement form on Weds 18thMarch. I also wrote to them a day later if they can confirm receipt (so that they have it) had no reply.
So I waited another week (the following Weds) to write a bad review on Trustpilot and literally that same day I had a reply from MyJar confirming they have received my bank details (settlement form) and that the payment will be with me in 10-15 working days from date of acceptance. Then randomly it went into my bank today.
Hope this info helps.
I will say as a heads up ifff you get to that stage of a Trustpilot review make out your really struggling for money atm and that you are on the verge of losing your job etc.
Chris Russell says
Hi,
The ombudsman is making a final decision on my case with Sunny by April 2nd. Last year I rejected an offer of £1039 for the following:
You had 27 loans totalling: £6,770.00
Interest and fees totalling: £2,639.11
My question is – does the 8% interest they need to apply fall in to the £2639 figure or will this be added on top to my final redress figure?
Thanks
Sara (Debt Camel) says
it is on top of the interest you have paid on the loans that are refunded.
Chris says
I thought so, thanks.
Am I right in thinking the 8% is calculated daily from repayment date until the date of final redress settlement?
Sara (Debt Camel) says
yes
Chris says
Thanks.
‘ll keep you posted as to how things turn out. I’m currently cautiously optimistic it ill be a a figure much nearer the 2k owed
James says
Looks like leaving a bad review doesnt work anymore sara!
Sara (Debt Camel) says
which lender?
Here is a comment from someone today who says it worked for her with myjar: https://debtcamel.co.uk/payday-loan-refunds/comment-page-187/#comment-357859
Mr Stephen Reeves says
Are people still receiving thier refunds from lending stream just getting worried now after uncle buck just went into administration:/
Rachael says
I saw on here that someone received theirs the other day. Lending steam is a lot bigger company that uncle buck so think they will be ok. I’m on day 15 waiting for mine
Mr Stephen Reeves says
Same here day 15, fingers crossed
SAM says
I received mine day 14 (last thursday) after sending 2 emails and leaving a review. I sent the 2nd email and left a review in the morning and by the afternoon the money was in my bank
Paul says
Hi Sara,
I submitted an affordability claim against Peachy on 26th January and despite them going into Administration on 5th March and much to my surprise I received a “Final response to your complaint” letter today dated 30th March stating that they are prepared to “partially uphold my complaint in regards to loans #4 – #13 as well as adding the 8% simple interest per annum”. They asked me to confirm that I accept the offer and provide them with my bank account details.
I replied straight away saying I accept but do you think this offer is legitimate or should I expect to get another email in a few days stating that the company is now in administration and all claims will be settled by the administrators in a year when I will be lucky to get a penny!
PM says
I accepted an offer from Peachy just before the administration was announced and they have since confirmed that I will only receive a percentage of that offer. Unfortunately, we aren’t getting our claim value and we should expect pence to the pound.
Mr C says
Hello,
I have received an email back from Sunny, they have rejected my complaint and are offering to write off the remaining balance of 163 pounds and a bit of change. They responded a week before the 8 week deadline. With this information they have given me is it now worth taking this complaint further. In total I had 25 loans with sunny over a 2 year period. I feel I may be in a position to take it further, is them offering me a deal now showing they believe that they could lose a lot more considering the complaint. Or do I take the offer they are providing with writing off the balance as it may be the best I can get?
Thankyou Matt
Sara (Debt Camel) says
Do you know how much interest you have paid Sunny?
Mr C says
Hello Sara,
I’m gonna take a guess from the calculations I’ve made because they haven’t sent me a spreadsheet of the interest, in the region of 2-2.5 thousand.
Thanks
Sara (Debt Camel) says
Then that sounds like it’s worth taking to the Ombudsman.
John Smith says
Hi! I just wanted to share a very small win – I had only one loan with Savvy, but after the Wonga debacle thought I would send an affordability complaint email on the off chance.
They sent a reply to my irresponsible lending mail saying that by providing wrong income/expenditure e-mail I was liable for fraud, etc.
However to my surprise I then had an e-mail 8 weeks after the initial complaint saying they would settle with £200.
Only a little one, and have some much bigger ongoing cases *fingers crossed*. But with all the bad news going around wanted to share a small win!
Tony says
Just had my final response from SNC they are clearing my outstanding balance of 1254 and also refunding 781 to me and removing adverse info from credit file. Finally 6 weeks in and a great result, I am very happy, thanks for all the help on this site.
Rach says
Good news! How much interest had you paid on loans with them? Is your offer fair? I’m currently 5 weeks into waiting for a reply from SNC I owe 800 pounds and have paid 3000 in interest over the last few years!