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?
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!
CE says
Adjudicator resounded to LS on the 27th Feb siding with me for the interest to be paid on loans 6-23 of 23 and gave them until the 12th March to respond. I’ve not heard anything off anyone yet… is this a normal thing? Also do you think LS will agree with the adjudicator?
Thanks!
Chris says
Adjudicator resounded to LS on the 27th Feb siding with me for the interest to be paid on loans 6-23 of 23 and gave them until the 12th March to respond. I’ve not heard anything off anyone yet… is this a normal thing? Also do you think LS will agree with the adjudicator?
Thanks!
Holly D says
Hi Sara,
I put in an affordability claim to Satsuma on 30 January.They replied on 9 March and did not uphold my complaint. They discussed only i loan dated December 2014. I know that six years is some time ago, however, since losing my job in 1993 I have been in financial difficulties and i am convinced that there would have been other loans prior to 2014. My on line banking only allows me to go back six years. Is there any way that I can see my transactions from 2010, when I retired and 2013?
Thank you.
Rocky says
Hi Sara,
I’ve been waiting five weeks now for Satsuma to action my refund. I’ve contacted the FOS who have sent an email chasing them and I’ve spoken to the ‘complaints dept’ who have given me false hope in telling me that it will be paid on a specific date (those dates have passed) I called them today and was told there was no update.
I don’t think I’m going to get the money anytime soon. Do you think it is worth contacting anyone else?
Thanks
Tyson Fury says
Hi
I received a reply from an adjudicator last week that satsuma have agreed. I did comtact Satsuma yesterday and I spoke to there complaints departments they stated due to current situation they are under staffed and cheques are only wrote one day a week (this week being a thursday). They did tell me my cheque was ready to be ‘actioned’ and should be in the post this week. But given the delays everyone else has experienced I’m not holding out on it.
Andy says
Hi both , if you don’t mind could I ask what sort of offer satsuma agreed with your adjudicator with , I had 15 loans over 3 years just wanted to see what sort of potential my case has , I’m waiting for the adjudicator to come up with an offer cheers
Karen says
Hi Sara,
I had placed an affordability complaint with Uncle Buck (as well as Sunny and Drafty) on the 29th of January.
They acknowlwdged my complaint and said they would get back within the 8 weeks but i had stopped making payments to get me out of the mess I am in.
I know they are now in administration but prior to this they were quick enough to sell my debt onto another company to chase my debt. I emailed the company back and advised that I had raised an affordability complaint with them and asked them to give me time and I have not heard back from them yet.
Where do I stand with this now? Will i need to make the repayments to this company now as they have gone into administration?
The company is Conexus and the last email I received stated that arrears due was £173. 97 and outstanding balance £536.10
Sara (Debt Camel) says
Did they sell the debt to Conexus or are they collecting on behalf of UB?
Karen says
Hi Sara,
The email states:
Your account has been passed to Conexus Recovery & Field Services by our client Uncle Buck Finance LLP, to make contact with you to collect the arrears on your loan agreement as you have missed one or more repayments on your account.
If you are unable to settle the arrears on your account an affordable and suitable repayment arrangement can be set up to clear the outstanding arrears/balance on your account. Please call a member of our collections team on 0203 880 6232 to discuss the options available to you, or email us on info@conexusrecovery.com
Sara (Debt Camel) says
ok that hasn’t been sold, it still belongs to UB. So you have a complaint int, the administrators will have to decide how to decide these claims. If you are pushed to make a repayment say you don’t want to until your claim is settled as you have the right of set off.
Karen says
Thanks Sara
Rachael says
Has anyone heard anything from lending stream? I’m on day 17 of waiting for refund. I’ve emailed lots and also left a review and heard absolutely nothing!!
I’ve tried the new number and it just says they are dealing with existing loans!
Melissa says
Day 19 here and nothing also.
Kris says
Day 20 now & haven’t heard a thing! Any idea what day they normally pay?
Steve says
Evening everyone.
I had my redress today from LS at day 27stage.
I wouldn’t expect to be paid,much before the due date if your out there hoping.
I did send a couple of emails but they were to no avail.
My original complaint went in 23/1/20
Upheld on 3/3/20 confirmed 5/3/20
Redress 1/4/20
Hope this helps.
Good luck all
Ab says
Hey,
Just for info I heard back from cash ASAP yesterday, they said they were not upholding my complaint but they were going to refund me 50%of any interest paid and going to remove any negative info from my credit file, I accepted that and the money was in my bank same day. Thank you Sara xxx
I have a loan with 118 but they haven’t taken my direct debit this month?
Sara (Debt Camel) says
118 Money seem to be in chaos at the moment. Have you had the “we have been hacked” email from them? Lots of people are saying payments haven’t been taken.
Have you sent them an affordability complaint? See https://debtcamel.co.uk/refunds-large-high-cost-loans/ for a template letter for this sort of large loan.
Abi says
I did send them an affordability complaint but they rejected it. I’m planning on sending this to the ombudsman. If they aren’t taking the payments from us will these go down as missed payments? I’m really trying to rebuild my credit report and don’t want this to hinder it xxx
Sara (Debt Camel) says
No they should NOT record payments as being missed when they failed to take them. Send the complaint to FOS now!
Karl says
My 118 app is working now
Michelle says
I emailed 118 complaints about the unclaimed direct debit I got a response straight away saying they would not try to take this month but they are back up and running so it will come out next month as usual, they told me as long as I make the missed payment by a certain date I would not get any mark on my score. I have now made the payment online
John Smith says
Hi!
Thats excellent. How long did Cash ASAP take to get back to your initial complaint if you don’t mind me asking?
Ab says
It was the last day of the eight weeks I had not even had an acknowledgment so I emailed asking for an update and they replied an hour later with the offer and then they sent the money 3 hours later xxx
Pee says
Ab. Could I please ask how long did it take CASHASAP to resolve your complaint. Did they take the whole 8 weeks? Nice one on getting your redress money.
Ab says
Hi,
Yeah i didn’t hear anything from them at all so I sent an email saying I was aware it was the eight week deadline and they replied an hour later with the offer! If they haven’t sent you an acknowledgment I would request one.
And thank you x
Tania says
No, I have emailed them several times, not because of the time taken as I am only at day 11 so leaving a negative review is pointless, but because I got two dodgy emails last week, one of which was a fake bounce back email. I have asked simply for confirmation that they have received my acceptance and they are ignoring me.
Ross says
Has anyone had a Loans2Go settlement via the Ombudsman? How long did it take? It is my only outstanding case (3 previous resolved by Ombudsman and others resolved by lenders) but has been with Ombudsman for about 9 months. It covers logbook loans and unsecured loans so understand it will be complicated.
chris says
Hi Yes I have just got a ruling from the FOS that L2G want to settle all the loans I have with them. This is without the need to go through the normal Adjudicator first Ombudsman next process. I put the complaint in in June 2019. I don’t know how much the settlement will be but around £1000 I think. Mine were all loans (not logbook loans).
Turtle says
Evergreen Finance London Limited T/A Moneyboat
Feel like I need to vent re this company and its appalling procedures!
At EVERY stage this company has used delay tactics. It’s gone to the bitter end with an ombudsman reviewing my case but I have come out on top and they have been told to refund all interest paid on all 5 loans + simple interest. Now the hard bit, getting the refund!
It’s been over a week since they’ve been told to contact me and sort out my refund. I’ve had nothing.
I’ve highlighted to these people times are tough right now with the lockdowns in place and they basically don’t care and this was coming from a “compliance manager”!
Anyway, I’ve written to BBC Watchdog and the FCA re Moneyboat because the way they treat people is dreadful! All I want is a refund of MY money! Hopefully someone at BBC Watchdog wants to do some digging into this crowd.
I remember missing some payments with them and they would repeatedly telephone my workplace asking for me. Horrendous.
Jane Y says
Hi Turtle
They rejected my complaint but as a good will gesture would clear my outstanding balance without any liability. I tried to negotiate and eventually got a reply saying they thought offer was fair but they would delete last loan from credit file. I tried to negotiate further but was hit by a wall of silence. Eventually accepted offer and got acknowledgement today. Didnt risk going to FOS as thought it might be a hard slog.
Jane Y
RS says
I am due a refund from Sunny tomorrow which will be the 14 days they advised they would pay this following receipt of my bank details however I have seen a number of comments on here about a 30 day period. Both my offer letter and email confirming receipt of my bank details state 14 days. Has anyone received their refund in the 14 day period?
Wendy says
Has anyone had any dealings with wizz loans?i sent them a irresponsible lending complaint on the 6/2 and didn’t have any reply from them so I thought I would send them an email to see how it was going and they replied straight back telling me they send me a reply on the 25/2 (which seemed very quick)I have asked them to re send it but still not recived any thing back from them,any advise would be good what to do next
Thanks
SK says
Hi all.
I received this email today from Sunny (Elevate) after trying to get some information on why they haven’t responded back to my adjudicator. This is the email I have received:
“ We continue to process all Financial Ombudsman adjudications where our respective decisions are aligned. We are also continuing to review all other adjudications, however we have temporarily paused communicating our decision on those cases as it is anticipated that there will be relevant new case law published within the next 4-6 weeks which may impact those adjudications. We expect this new case law will still be published within that timeframe despite wider events associated with COVID19.
We appreciate this may mean a short delay for some customers. However, we believe that it is in the best interests of our customers that this imminent case law is taken into consideration by both Elevate and FOS to ensure fair and consistent outcomes for all consumers.”
Does anyone know what this is about? Is there any truth in this? I’m waiting for an ombudsman to pick up my complaint from FOS but I’ve heard this could take a while.
Sara (Debt Camel) says
Some other people have reported this.
I understand there is some court case underway, the result of the case isn’t known yet – and when it is published it could of course go to appeal.
But FOS is not a party to this court case, so it may not be directly affected. FOS takes into account a lot things when it takes a decision, not just legislation and court decisions.
So far as I know, FOS is not halting any work on Sunny cases, they are just proceeding as normal. So hopefully you will get an Ombudsman decision soon.
Nick says
I received the same email it explains why they haven’t responded. Just sit back and wait for the ombudsman I spoke to my adjudicator and they are still treating sunny cases the same as every other case so I wouldn’t worry about it
Jonny says
Safety net have offered to write off my current balance of approx £1100 and to refund me £500. As I have constantly borrowed off them every month for 2 years at approx as I was in a cycle of borrowing when they practically emptied my account every pay day, how can I work out if this is a good settlement offer? Where would I consider start of calculating the interest paid to compare with my offer etc?
Sara (Debt Camel) says
How much interest have you paid so far?
Jonny says
Hi Sara!
Since June 2017 till now i’ve been charged £4,284.69 in interest. I worked out the redress offer to be approx 38% of the interest i was charged.
Sara (Debt Camel) says
That doesn’t seem that good then. You could tell SNC what you would be prepared to settle for, or just send it straight to FOS. I don’t know if they will negotiate.
Rach says
If you login to your SNC account too right hand corner there’s an option to open statements – all your borrowing/interest paid is in there! How long did you wait for reply?
Jonny says
Hi Rach
Thanks for advising of this. I actually got a copy of my statement from the website before i submitted my complaint to them. It took 1 month to get a reply saying bare with them as they are continuing to investigate. Then 1 and a half weeks later i got the offer email.
Chloe says
Hi Sara
I am still struggling to contact 118 about a refund that they owe me. Do you know if there is anyway to get hold of them?
Thanks
Joe says
Hi all, just recieved an email response with final outcome from sunny, they have refused to uphold any claims. They said it was affordable. I had paid interest of £1166 on all loans. I believe it wasn’t affordable. They have sold it to s debt collector which I am still struggling to pay nearly 2 years later. I’m not interested in the money as such more my credit score. What should I do now? Give up or?
Joe
Sara (Debt Camel) says
Send the complaint to the Finacial Ombudsman! They are upholding a VERY large number of complaints about Sunny.
Joe says
Okay thankyou I have emailed the ombudsman
Catherine Fish says
Just to add to this l had a complaint with sunny, which they denied, went to FOS. One person looked at it and said l needed redress which Sunny still denied which they said would now need to go to an adjudicator. After a very long wait someone else at FOS came back and said it was still waiting for an adjucator but he had looked at it and didn’t think there was a case. I replied that l thought there was and to still continue to the adjudicator. They finally came back to me yesterday and have agreed with me, now waiting to hear back from sunny again! Good luck!
Kat says
Some good news about Peachy for those that put in their complaint before they went into admin. They have now wiped my remaining debt balance, so I now owe them nothing! They said I was entitled to a £216 refund and as a good will gesture they have also wiped the remaining balance, not much an extra £30 or so. No doubt if they were not in administration I would have got more from FOS but I am just glad it’s over!
R says
Hi Kat,
How many loans did you have with them?
Hello.ello says
Hello!
How long does LS usually take to respond to adjudicator decision? And do they normally accept their decision? Also does the adjudicator normally let me know the decision as soon as LS has responded?
Thanks for the help
Shaun says
Sorry it’s not a helpful answer but I have the excact same question. FOS got back to me today saying lending stream should make it right in my favour for 6 of my 9 loans. Sent them a letter etc. Was wondering the same as original question. Chances of it getting all accepted and payed out?
Sara (Debt Camel) says
LS accept a lot of adjudicator decisions – I hope this includes yours.
Chris says
They ignored my adjudicator decision, didn’t even reply. Now waiting for an ombudsman.
RS says
I have just received my redress payment from My Jar so they are working if anyone wanted to know. I accepted my offer from them last Wednesday, sent them back the completed form the same day and have received payment today. Sunny should also be paying me today but so far nothing from them despite leaving a negative comment on trust pilot and emailing them. Does anyone have an alternative email address for them?
Once again thank you Sara, for the sake of sending a quick email, I have had a lot of success so far. Satsuma and 118 to go but think they will be going to the FOS.
RS says
My payment from Sunny has just been received – 14 days as promised from receipt of my bank details.
Pj says
Good to know, Monday is my day 14 and I’m getting nervous!
RS says
Hi Pj, the payment didn’t go in until about 6.00pm so don’t expect it to be there first thing in the morning. I was starting to have doubts too!
Amy says
Hi RS,
If you don’t mind me asking how much was your redress? My hat owe me 4k. I also sent them my form on the 25th. And I’ve heard nothing. Hoping it comes this Thursday as I need to pay my rent.
Pee says
Got my 8 week redress decision today from CASHASAP and accepted it. Have received payment into bank account on the same day. So if anyone else awaiting decision they are still processing refunds.
Nick says
Was it 8 weeks to the day since you complained? I’m on the 8 week mark now and as yet had nothing
Pee says
It was one day before deadline for decision. Decision was to give redress. I accepted and went into my account Sane day. It states this will happen in your decision letter. Ok bro.
Martin says
So Peachy and Uncle Buck have both went into administration. Is there any sense in sending affordability claims to the FOS now?
Sara (Debt Camel) says
cases are being won every day! It costs nothing, so why not?
StevieC says
Fantastic seeing so many of these doom merchants going to the wall!!!
Lindsay says
So, I am on day 19 of 28 waiting for my Lending Stream refund. I have emailed for an update but to no avail. Getting worried because I could really do with them paying it sooner rather than later🤨. Patience is not one of my virtues! Anyone else in a similar situation with Lending Stream?? Thank you
Tania says
I keep getting emails from them saying they have extended my complaint to 16 weeks despite me accepting a settlement 13 days ago and they won’t acknowledge that I have accepted it. The last email was addressed to me by surname only. They are useless.
Rachael says
I’m on day 19 with LS. They did email me back when I accepted to say they had received my email and that the refund had started and would take 28 days from the email…..heres hoping!
Lindsay says
Fingers crossed😊
Timbouk says
I’m hoping we are in the same batch! Seems quite a few people had redress offers on the same day. My 28 days are up on Easter Monday so hoping for something this week?
Does anyone know if lending stream does it as a transfer or a BACS payment ?
Tania says
Well, that’s a worry, as I’m 14 days since I was offered/accepted, and can’t even extract an acknowledgement from them, so my 28 day wait perhaps hasn’t even started?
Lindsay says
Thats was me too! Emailed me my offer on 13th march and on the monday confirmed the refund has been initiated and to allow 28 days from day of acceptance. Takes me to sat 11th April. Lets see what happens! Good luck all🙏
Sarah Perring says
Hi Lyndsay
LS paid me on day 26 of 28 so hold on will be worth it in the end xx
rennes99 says
Hi all, hope everyone is keeping well.
How are people finding complaints with the FOS for Sunny at the moment?
My adjudicator found in my favour a while ago, and give Sunny until start of March (1 month!!!) ago to respond.
I have no idea if they have or not because my adjudicator’s ignoring me too…. 5 very courteous emails enquiring about whether Sunny has responded to them, and zero back. Are the FOS operating at full capacity at the moment? And are Sunny just taking the proverbial?
Not sure how I can move this forwards without help from either!
Luke says
Sunny won’t reply or will disagree. It will go to final ombudsman. I’ve been waiting since October 2019 they had the 13th to respond and disagreed.
Timbouk says
I am on day 18 with LS. I believe people with outstanding complaints have been emailed to say it will take longer which is understandable in the current climate. However I can’t see why an already agreed payment would be delayed. Maybe the above poster was emailed by mistake as they had already agreed to the settlement.
Lending Streak told me I should receive payment within 28 days and at this point I have no reason not to believe them. If you are still within your 28 days then I can’t understand why people are continually attempting to contact them at a time they are really busy and adapting to working remotely.
However if I reach Day 29 with still no payment turn I will attempt to contact them.
JA says
Hi Sara – With whats going on as of current do you know if the FOS are still operating?
I’m waiting for my likelyloans complaint to be picked up Sent june 19 and two cases sent sept 19 for ombudsman review.
Don’t know if its worth me ringing or just waiting because of whats happening atm.
Thanks
Sara (Debt Camel) says
They are now all working from home. And people are getting decisions through. Here is one about likely Loans case from a couple of days ago: https://debtcamel.co.uk/refunds-large-high-cost-loans/comment-page-13/#comment-357899
Helen says
Hi Sara,
I have an open loan with Uncle Buck. I owe about £240. I have just noticed today that they are administration and have immediately put in an affordability complaint. Hoping that ultimately, the loans will be removed from my credit record in the administration process. I know i wont get much rebate. I have had around 6 loans in the past, ranging from £200-£500. Payments are currently £84 a month and so are affordable. Do i continue on with them?
Also, My Adjudicator ruled in my favour at the FOS with Satsuma months ago but they have still not replied to my adjudicator with a decision about whether they agree! He has sent 3 chaser emails and today told me that he”s preparing my case for the Ombudsman. Do you know roughly how long i will have to wait for the final decision? So fed up of Satsuma, its been a very long & difficult process
Sara (Debt Camel) says
how large was this last loan & how much have you paid so far? the previous loans, were there any large gaps between them – the time from repaying one loan to taking out the next?
Catherine says
Hi Helen Try emailing FOS.complaints@provident.co.uk about your satsuma complaint,explain that the business failed on several occasions to respond to the adjudicator and that you want to check that they received the communication from the FOS and that a response is required as soon as possible to settle your complaint promptly.Explain that you are disappointed with the handling of your complaint and whilst you appreciate the current situation is causing problems for businesses that you need a resolution.
Has anyone else whom I passed the email above to managed to get a response?Would be interesting to hear if it’s helped anyone.
TP says
Hi Sara / All,
Im trying to rebuild my credit, currently at ‘Very Poor’ , i have 6 defaults, All of which are paid now. I cant get any credit / finance. All my financial problems were through payday loans currently going through a process with 118 to hopefully win/ remove default from my account, it is now with ombudsman. How can i build my credit going forward or is it going to take years, i have very little outgoings and a good salary so is it just time or can anything else actually be done. Thankyou all.
Sara (Debt Camel) says
what sort of credit do you want, or are you just generally concerned about having a good credit record?
what are the dates of the defaults?
TP says
I will be looking for a mortgage in the next year or 2, i will have a good deposit, and i may look to get finance in the future etc, the defaults are around 7 months old and older Sara
Sara (Debt Camel) says
When were all the defaulted debts repaid?
you have an affordabilty complaint with 118 – have you also looked at similar complaints about the other defaulted debts?
what do you call “a good deposit” – 10% or 40%?
S says
Hi Sara,
I made an irresponsible / unaffordable lending complaint to MYJAR back in November 2019, regarding loans that were obtained through “TXT LOANS” approx 10 years ago. Firstly, MYJAR have admitted they have deleted all my records, and therefore the onus was on me to prove that I had obtained the loans.
To cut a long story short I contacted my bank (Lloyds) who were extremely helpful, and they sent a full 12 months of statements to cover the period in question. (The statements showed excessive borrowing from numerous lenders) and also showed in excess of 30 loans taken with “TXT Loans”, that were short term borrowing of usually £100 over a 14 day period. Having forwarded all the additional information requested to MYJAR, they have now replied sending an email stating they are unable to locate my account. I have politely informed them they won’t be able to; as they have already informed me they have deleted it. Despite numerous emails and telephone conversations where I don’t get any further than the security questions (hello you’ve deleted my records so you won’t find me!) I appear to have hit a brick wall! I have left a review on Trust Pilot (just the one!)
Is there anything else you can suggest please Sara (any CEO details or anything) or should I just send my complaint to the FOS and join the queue?
Thanks for your help.
Sara (Debt Camel) says
No, send it to FOS.
Darren says
Hi Sara
Can I still claim against CFO lending only just noticed had a loan back to 2014 noticed they went into administration in 2016
Sara (Debt Camel) says
I don’t there will be any money left. If this would be a big claim for you then you could talk to the financial ombudsman to be sure.
Mark says
Hi guys
Wonder if you could help me with this
I put a complaint into satsuma following above guidelines. There has been total of 10 loans 8 of which taken in the last year. They have declined to say they followed correct procedures and I can refer to financial ombudsman. I have replied back to them to reconsider is this right thing to do or should I go to ombudsman? Any advice or help would be appreciated
Sara (Debt Camel) says
Well you can give them a few a days but no longer, then send it to FOS.
E says
Please could you advise how long they took to reply. I’m at 8 weeks now and they’ve not even acknowledged it. I’m going to escalate to FOS this weekend.
Mark says
I logged on the 31st January and got the response back today
I have put compliments into.other companies I used and they have already paid out and upheld the complaint (ferratum and my jar)
Is satsuma known for dragging their heels and not upholding complaints
Sara (Debt Camel) says
yes. Send it straight to FOS now.
Mark Butler says
Hi
Just following up on above question I have sent request across to financial ombudsman to look into the case through their website on Monday does anyone know a rough idea how long it takes for them to get back to you to confirm their looking into it? Also I had replied back to satsuma email on friday and today and heard nothing back will I have to deal directly with FOS now?
Sara (Debt Camel) says
FOS will ask Satsuma to send over their case file. Then it will be in a queue to be picked up by an adjudicator. It’s hard to say anything about timescales – cases had been moving faster but everyone switching to working from home may slow down getting info from the lenders,.
JOJO says
Hi Sarah.
Adjudicator upheld complaint against Drafty and gave til 27th march to respond. As at yesterday no response so have til next thursday otherwise will pass to ombudsman. Does that mean if they still dont respond by then I go to the back of the que again for the ombudsman?
James says
Hi all
I heard back from peachy yesterday and have accepted their offer of a redress, anyone know how long it takes for then to payout? And will i receive the full amount? Know each company varies on both things asked.
PM says
Hi James,
Redress claims are now subject to the administration. I accepted their offer 6 weeks ago and have received no payment. They told me that I will only receive a percentage of the accepted claim based on the administrators findings. Probably best to forget about your claim now, if it’s anything like Wonga and Wage Day Advance, we’re in for a lengthy wait for around 4-5% of our accepted claims.
Kev says
I’ve a complaint in regards Lending Stream which has just hit 8 weeks (submitted 9th February). Checking back through my emails I have the following from them dated 27th March – has anyone else seen anything like this, and can they do this?
“Dear Customer,
This is in reference to your recent complaint registered with us and currently under investigation. Please note that due to the challenging situations associated with COVID-19, we are experiencing delays in complaint handling. As a result, to thoroughly investigate your complaint and provide an appropriate final response we anticipate requiring an additional 8 weeks from the due date of your original complaint. We will try and respond sooner if possible. Both the FCA and FOS are aware of these changes to our deadline handling.
Regards,
Lending Stream Complaints Department”
I appreciate that the situation with COVID-19 has made things difficult for a lot of organisations, but I’ve not seen anything official stating that the period to handle complaints before escalation has doubled. Should I give them this time, or just escalate now?
Mike_p says
They have worded it to try and imply that the FOS have somehow agreed to it, in reality they mean they are flouting the rules and FOS know that they are. It’s like saying you have started stealing from your local shop and that both the shop owner and the police are aware of the changrs to your food supply process.
Lending Steam are one of the worst companies to deal with and will use any excuse they can to try and delay things. They rarely uphold complaints anyway so send your complaint to the FOS the minute the 8 weeks is up.
Rachael says
I had the same email from amigo loans….looks like all
Combines are sending them if they haven’t come to a decision yet
Rachael says
I’m doing mine by a 3rd party claims company.
I got the exact same email literally the day before my claim was due to be decided.
I was fuming!
If there was a few weeks between I might have been more understanding but not the day before.
Just a mick take.
Fortunately the claims management company are escalating it for me.
Like everyone else has suggested, the tend to decline anyway but I’m going to see it through to the bitter end with them
Paul says
I have had the same, I’m all for it being trying times etc, but they are not affected enough to stop lending money. So when my 8 weeks are up it’s getting escalated. I also sent them an email to that fact.
Rachael says
So LS are a joke!! I had an email off them to say they had received my acceptance of redress and money would be in account by the 13th April.
I have just received an email today to say that they need a further 16 weeks for my final response….surely this email has been sent by mistake??? I’ve had my final response and been told by when the money will by.
Tania says
Hi Rachael,
I accepted an offer on 21 March – they didn’t acknowledge my acceptance and still haven’t. I got the same email 9 days ago and they haven’t responded to my emails requesting clarification.
Kris says
Just received my Lending Stream refund today (Sunday 5th) so making payments today if people are waiting on them.
Rachael says
What day out of the 28 were you on?
Kris says
Hi I was on day 23. Accepted on 13th March.
Rachael says
I’m on day 21 so hoping it comes soon. Really happy you have received yours
Melissa says
I accepted 13th March too and could really do with it. Fingers crossed it appears soon.
Karl says
Hi,
Is it too late to contact the administrator for QuickQuid and swift sterling?
Thanks
Sara (Debt Camel) says
QuickQuid – no, the administrator will be putting up a page to enter your claim on soon or you can email one now to complaint@onstride.co.uk. See https://debtcamel.co.uk/quickquid-casheuronet-administration/ for further news about the QQ administration.
Swift sterling – when were your loans?
Karl says
Thanks, my swift sterling loans where 2018
Sara (Debt Camel) says
then send a complaint email to complaints@swiftsterling.co.uk
C says
In October 2010 I borrowed £200 from One Month loan now Sunny. I made 6 monthly payments of £67.50 and then one final payment of £89.50. In total I paid back £494.50. I had other payday loans at the same time with most other lenders and I also had 3 different guarantor loans. I know it’s very hard winning one loan complaints so is it not worth me complaining? The loan was clearly unaffordable if I had to pay it off over 7 months and I’ve paid nearly £300 in interest. Thanks
Sara (Debt Camel) says
it is very unlikely you will win that complaint.
good luck with your guarantor loan complaints!
RS says
Its nice to see a lot of people winning cases. I for one fell into the payday loan circle around 5 years ago (aged 20) and i found myself in a downward spiral of constantly lending once id paid one off getting another right out. If i had seen this site a bit earlier i wouldve got 2.7k from wonga. I Got over 3k back from sunny who i paid over 5k interest to over the years. I think the payday loan situation people will have different opinions on it, but i for one think it is pleasant to see them going bust one by one, and i personally think in a couple of years there will be absoloutely no payday loans it is daylight robbery the fortune they charge on interest and i cant believe they are allowed to advertise themselves on TV. Because of my history with payday loans i have a very poor credit i am trying to rebuild, and i wish everyone the best of luck. Does anybody else think that paydayloans will be abolished in the years to come. Fingers crossed, itll save a lot of people going through the same downward spiral i did.
Rachael says
LS have just paid out today!! I was on day 22/28.
I cannot thank this site enough, this money will now change my life just short of 6k.
Melissa says
Brilliant Rachael so pleased for you. Mine isn’t a life changing sum but I’m on day 24 now I think, accepted on 13th and they confirmed reciept of my details on 16th. Got everything crossed mine comes soon too!
Lise says
Hi Rachael,
That’s great news. I’m on day 21 & still waiting. Did they send you a notification to say they paid it?
Thanks
Lise
Rachael says
Hiya, yes I got an email at 6.20am to say they had refunded me- it had gone in my luck mail
Lise says
Fab I’ll keep an eye on my inbox with my fingers crossed!
Em says
Have received 2 emails from peachy. One has an attachment which is their final response (password protected) and the other is a password . Has anyone else had problems opening the first email and if so how did you finally open it?
It just keeps saying file can’t be obtained as its password protected.
None of the other companies have sent a response in this way.
Paul says
Hi Em,
Try using winzip app to open the documents.
Zee says
The password is usually Peachy2020
Dave L says
I’d like to thank this site for all the free help and advice . Having entered into a stepchange DMP, and then made complaints about affordable lending, I’ve had the following results –
Bamboo Loans complaint rejected sent to FOS
Fernovo complaint rejected but balance written off and loan deleted from credit file
SafetyNet Credit accepted complaint and refunded £300, loan written off and deleted on credit file.
Mr Lender complaint rejected but balance written off.
My Jar accepted complaint and all interest removed, will be deleted from credit file once settled.
Thanks again Sara for your help on this site.
Chris says
Today the adjudicator told me that LS did not get back to her with a response and is now preparing for an Ombudsman to look at the case. I’m a bit frustrated about it! Do ombudsman’s generally side with the adjudicator?
Marl says
Peachy said my son could pay £256 as a settlement instead of £477 they also said he had 6 months to pay it, which he told them it would be paid on the 3/06/2020′ this was the last day of the 6 months.. Over the last 3 weeks he has had really nasty emails, 6 say defaults for the one loan, others threatening court action, he’s loads of them they are just bombarding them to his box and by post. Sara what should he do please.
Sara (Debt Camel) says
He is planning to pay it all in June? or has he been making monthly payments?
Marl says
Planning to pay in June n they accepted that in an email earlier on
Sara (Debt Camel) says
Well he should reply saying he had an agreement with them to pay it in June and that is what he will do. I hope he will have the money then!
Mike_p says
It’s pretty clear to me that they just delay sending their response for as long as they think they can get away with. My Lending Steam response was clearly auto generated and consisted of exactly the same wording stamped out 16 times, once for each loan. I got my Swift Sterling response at 10:30 at night the day before the 8 weeks was up, and my Cashasap one on boxing day which happened to be the day the 8 weeks was up. They either have very dedicated staff who are slaving away at all hours to get complaints resolved, or they have discovered that Outlook has a delay delivery option.
Nigel says
Just got this back from moneyboat,
Is it a scare tactic, should I continue or leave it.
I would lose my job if it effects my credit rating and can’t get mortgage
In the event of an affordability/irresponsible lending complaint, could you please provide us with copies of your bank statements applicable at the time of your applications, so that we may carry out a full and comprehensive review of your complaint.
Should it transpire that information provided by you at the time of application was false or misleading, we may register this attempt to gain redress falsely as a first party fraud with CIFAS the fraud prevention agency. To learn more about fraud and understand your rights please visit cifas.org.uk. Any fraud marker may affect your ability to obtain credit with banks and other lenders in the future.
Sara (Debt Camel) says
It sounds like a scare tactic. Many people have been told this, by Moneyboat and other lenders, but so far I am not aware of anyone who has ended up with a Cifas marker or been prosecuted for fraud.
Read https://debtcamel.co.uk/payday-lender-says-lied/ – there are a lot of reasons why an application may not have been completely accurate.
Nigel says
Thanks Sara, so I should defiantly still continue
They are asking for my bank statement too, shall I send that?
Obviously bank statement will show I had other loans not mentioned, and salary less.
Also do they just refund interest or full amount you borrowed?
Thanks
Nigel
Sara (Debt Camel) says
How many loans did you have from them? Were there gaps between the loans?
You will only ever get refunded the interest you have paid.
Nigel says
2 -3 loan
I have one loan with them now and one few months again
Also before I spoke to because I was scared they would report as fraud, I sent one email, sayin I will send in stament and anthor saying you have all the
information pursue the case or drop it.
Defiantly still worth pursuing even though I also put in a slightly larger salary because my salary goes to shares at work and also missed out payday loans and bank loans?
Sara (Debt Camel) says
Not sure what “2 -3 loan” means?
you only had two loans from them? how large?
Nigel says
3 loans one for 300 other for 100
Sara (Debt Camel) says
that is two loans …
As there are so few, what is the order and what are the gaps between repaying one and taking the next.
eg £300 – gap 5 days – £100 – gap 2 months – £100
Nigel says
Gap is 1 month
Also on a separate note should I withdraw buffa complainet as I kept make requests to borrow and paid it back in few days normally kept saying yes eventually they said no, after asking for my bank statements
Now they have proof my income, debts etc was incorrect.
Thanks for the help
Sara (Debt Camel) says
I’m sorry, i still don’t know if you had two or three loans? If you only had two loans with a 1 month gap between them t[you are very unlijkely to win an affordability complaint.
3 loans is not easy but you may get the last loan refunded if it was 100,30, 3300 but much less likely if it was 300,100, 100. That is why i have been asking for details…
how much interest did you pay buffa? how many loans?
Nigel says
Not much interest to buffa 20 pounds
I know you’ve said not heard about reporting CIFA, I’m just scared they may still report hence thinking of dropping my case
I’m glad they don’t but just out of intrest how come they actually don’t report people is it difficult to prove
If they did report do they ask for proof etc
Thanks
Sara (Debt Camel) says
It’s hardly worth the hassle of trying to reclaim £20.
From what you have said, there seems little point in pursuing the MB claim not because of their threats but because you are simply very unlikely to win.
how come they actually don’t report people is it difficult to prove
I don’t know, and it could be different for different lenders. But some possible reasons include:
1) fraud requires “intent”, it’s not something you can commit by not thinking very clearly. My article https://debtcamel.co.uk/payday-lender-says-lied/ looks at a lot of reasons application may have been incorrect or incomplete that aren’t fraud.
2) you borrowed the money and repaid it – where is the fraud?
3) for the lender to do anything requires some work on their part which they will not get any money back for. And if you dispute a Cifas marker and take the case to FOS, they will end up paying a £500 FOS fee even if they win. What would they actually gain from doing this?
4) any payday lender that gets a reputation for accusing its customers of fraud will probably soon be out of business.
Nigel says
2) you borrowed the money and repaid it – where is the fraud?
In terms of you got the money, with incorrect info even though it was paid back, is that not fraud
Some other payday I’m still paying back, should I still pursure?
Sara (Debt Camel) says
well it isn’t me you have to ask the questions to, I am just guessing at various possible reasons.
I think you need to look at how good your affordability complaints are.
2 loans you are very unlikely to win. 3 loans pretty unlikely unless the loans amounts were going up and there were no gaps.
And if you have paid tiny amounts of interest, what is the point?
If you can’t manage the current loan repayments without borrowing again, ask for lower monthly payments you can manage. And just stop borrowing!
Mike_p says
The reason they mention fraud is to put doubts into your mind so you question whether or not you should do something that will cost them a £500 fee.
When they were still going Uncle Buck sent me a threatening response saying if I escalated it to the FOS they would be asking to see my bank statements and would be asking me to explain any discrepancies. I escalated it anyway, mainly because they were trying to intimidate me, and I never heard any more from them.
Nigel says
Thanks mike
Did you have to send bank staments to foc
So best just carry on and ignore there threats
Sara (Debt Camel) says
You don’t seem to have understood my point. You have very little chance of winning this complaint, so what is the point of carrying on with it?
Nigel says
Sara that’s true, but shall I just leave it there and not escalate
Instead of withdrawing them, as I have already raised it?
Sara (Debt Camel) says
yes you can just leave it there.
SK says
Re: Sunny (Elevate)
After not hearing back from Elevate on my adjudicator’s decision, this was passed onto the financial ombudsman on 23/03/20. Today, I have received an final decision from the ombudsman who has upheld my complaint alongside the adjudicator’s findings. I’m quite surprised how quick I’ve received a response back from the ombudsman as I’ve heard many have been waiting for months. Hope everyone whose waiting will hear back soon from FOS. Thank you.
Sara (Debt Camel) says
Good! I think Ombudsman decisions have been speeding up but that is FAST.
J says
They have been picking cases up quicker now i raised my case to the FOS on the 25/03/20 and on the 01/04/20 they responded.
Darren says
Just had an email from Amigo loans as affordability loan its 8 weeks today for response but they have requested another 4 weeks or suggest if I’m not happy to forward Complaint to FOS your thoughts on this Sarah
Sara (Debt Camel) says
I would send it to FOS now.