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?
Sara says
Lending Stream are infuriating. 18th May ombudsman ruled in my favour. I accepted and he said he would let them know. I went on live chat the day after and was told it would be 28 days. I advised my bank details hadn’t changed. Today something made me contact them again on live chat and guess what. They now say I have to accept on the email that they sent me 9 months ago declining my original complaint stating I accept the ombudsman findings. So I did. I then got told I had to reconfirm my bank details again over the top of the original complaint. They also said the 28 days only start from them receiving this info so I’m back on day 1 of 28. I’ve reported all this to my ombudsman but surely they cant get away with this
George says
Hi Sara
I have an unpaid sum of 227.4 and 143.25 total 370.65 they were old loans going back to 2015/13 they were originally from cash choice but they sold the accounts twice now and the latest now I have got a lantern recovery letter 19th of March 2020 asking for payment.
I have not replied or got back to them am I right In thinking these are just very old debs and should have been wiped off
Would you happen to know what lantern might do can they force any legal action!
Many thanks
George
Sara (Debt Camel) says
they were old loans going back to 2015/13
what were the dates you took out each of these loans? Did you make any payments to them? Or to any debt collectors?
George says
One of them was before September 2012 for cash choice original amount 280 outstanding 227.4
And the other is cheque Center In January 2013 original 225 outstanding 143.25
I have not paid anything else and not to debt collectors either.
Sara (Debt Camel) says
In that case I suggest you talk to National Debtline on 0808 808 4000 tomorrow about whether these old debts are statute barred… if ND say they appear to be, then you can tell Lantern this and that you will not be paying.
I assume neither debt shows on your credit record?
George says
Ok thanks will check in the morning.
On my other loans I have got a final reply from Quid market offering 557 from a possible of 1600 redress however there was a 4 year and another 18 months gap between the borrowings would this make any difference?, I have ask for a settlement figure of 1300 but not heard anything back yet.
Is that a fair offer?
Sara (Debt Camel) says
Gaps that large make a huge difference. It’s like you had three separate groups of loans, and in each of them the first loans would probably not be refunded,
George says
Hi Sara
I called the National debt Line and they said they don’t hold that information!
They couldn’t tell me who to contact!
Is there any other way of finding?
Thanks
George
Sara (Debt Camel) says
well they don’t have a list of loans that are statute barred – no-one does – but if you talk through the situation they can say if they think it’s unlikely or it possible>
Your other option is just to try to settle them with Lantern.
Andrew says
How long does it take for sunny redress to hit your bank account Tia
Alan says
Hi,
Today I received an email from the FOS adjudicator stating that my case was going to be reviewed by an ombudsman as Sunny hadn’t replied.
An hour later I received a further email from them stating Sunny had offered me £2932.08 for a refund of loans 22 onwards. The adjudicator stated Sunny should refund me for loans 7 onwards.
They said I need to accept by the 23rd of June or if I don’t reply they will assume I decline the offer and will continues to be reviewed by the ombudsman.
I’m assuming I should decline the offer as will hopefully get more From loans 7 onwards after the ombudsman looks at the case? Also what would the time scale be after the 23rd of June?
Nearly 3k is a lot of money and is very tempting so would be keen for advice?
GH says
Consider the fact that it could take a long time for a Ombudsman to investigate your case. Also if they go into administration like many others you’ll get next to nothing.
Not saying they will go into administration, you need to work out what total interest is you paid and compare that to your offer
Sara (Debt Camel) says
Someone asked a week or so ago about how long it took for a Sunny case to go to the Ombudsman and here are a couple of recentish examples: https://debtcamel.co.uk/payday-loan-refunds/comment-page-193/#comment-366519
Alan says
Appreciate the replies.
They sent the offer to the FOS. Would I able to ask for a counter offer say from loans 18 onwards(instead of 7 onwards)? And do I contact Sunny directly for this as I’ve not actually received their offer, only the FOS as previously stated has.
Jordan says
An update on Sunny. The Ombudsman agreed to uphold my complaint after the adjudicator sided with Sunny.
I’m getting 2 defaults removed from my credit file which is a huge positive. I had the loan in 2017. Even though it was only one loan, my bank statements are littered with gambling transactions, other payday loans and I had a huge overdraft.
Even if you only have one loan, if you are a compulsive gambler and have other loan with other companies, it is worth your while complaining.
If the payday loan lender does the proper checks and looks at your bank statements it will see the loan is unaffordable and won’t issue with a loan in the first place.
All the best.
Sara (Debt Camel) says
I may be getting confused, but was this loan taken after you had just won an affordability complaint?
Jordan says
With Sunny you can have up to 4 loans at the same time. I had 2 at once. Both defaulted.
Sara (Debt Camel) says
and these were after you had already won an affordability complaint?
Jordan says
Yes, Sunny seem to do no checks whatsoever or they didn’t at the time. They might have tightened things up now.
Ash says
Hi guys,
Sunny messages me today for my bank details after my final ombudsman decision at around 2pm replies, and funds were in my account by like 6pm. Thank you Sara x
Andy says
How long were you waiting on final Ombudsman decision? I have been told they’ll be looking at mine on the 15th June as I’ve already refused Sunnys offer to pay less than half what the adjudicator suggested.
Laura says
A quick question to those with successful claims with moneyboat. I received their decision today and have accepted. How long from accepting do they take to pay out?
Thanks
Darren says
Hi
I accepted from moneyboat in the morning same day had refund was amazed was in by close of business day
Laura says
Wow very quick. I accepted midday. Did they acknowledge your acceptance?
George says
Thanks for your last message
Since I have asked for 1300 to be considered against their offer of 557 I have not included the first three loans which were in 2011 and were rolled over. Do Quid market Negotiate or am I barking at the wrong tree!!
My other offer is from lending steam and I have asked for breakdown of loans since they didn’t include this on their reply.
How fast is lending stream answering Emails. I asked for the loan breakdown on Saturday 6th June!
Any ideas!
Marie says
Sunny didn’t uphold my complaint and neither did the adjudicator so off to an ombudsman it goes. Interestingly the SAR shows that they only did one credit check (first loan only), oh well it’s back to waiting again now.
Myjar haven’t paid my interest back yet, that was due to be processed by last friday so waiting on them again and likely loans didn’t uphold so waiting for that one to be looked at by an adjudicator.
Also waiting on George Banco to respond to my email querying their offer. It all seems to be a never ending waiting game. All that alongside the other complaints I’ve made to amigo, capital one, shop direct , tsb and newday. Frustrating to say the least but just have to be patient now.
Dale says
Do many people on here claim back the tax taken on refunds? I have no idea how to even do this and what are the timescales for doing so? For example, could I claim a tax refund tomorrow for a refund I won last August?
Andrew says
Hi Sara,
I’m not sure if that’s the correct side to ask for help on my issue.
I have recently checked my credit report and I’ve realised that there is an outstanding balance for Kapama Limited for £978 since 03 Jun 2014.
I have investigated this and that directed me to Opos limited website where I was able log in to the account and check the original creditor. I found out that the debt is very old since 2010-2011 and came from Mini Credit. And the outstanding amount was only £100 not £978.
Is there any way that I could complain about this?
Sara (Debt Camel) says
When did you last make a payment to this debt?
Andrew says
Hi Sara,
Thank you.
I have no memory on this. The loan was from 2011.
My credit report shows Kapama Limited £978 Current balance. The original loan was £150.
First Defaulted from Kapama is dated on 02 Dec 2014
Sara (Debt Camel) says
So you don’t even know if you paid it?
do you have bank statements from 2011/12?
You could talk to National debtline on 0808 808 4000 about whether the debt is “statute barred” if you didn’t pay it.
A default should have been added to the credit record in 2011 ish. Which means it would have dropped off your credit record by now.
The problem is if you try to get this corrected you are waking up Opos who may ask you to repay it. (Actually you may already have done that by logging into their system.) if you can argue the debt is statute barred then you can also ask for a default to be added and it will go.
Timka says
Sunny has offered a compromise refund via adjudicator and I have accepted it, although it was smaller than adjudicator recommended, I am just scared they will go under water. Now just waiting game for it to be paid out. Can someone please tell me what was that letter I have to request from them to claim taxes back? I vaguely remember there was something about it but can’t find it now. Thank you so much.
Sara (Debt Camel) says
You don’t need a letter or certificate from them. just a breakdown showing how much 8% interest is included in your refund and how much tax is deducted.
Timka says
Thank you! I will see if I can find how I can claim those taxes back.
Dale says
Do you know how to do this? What are the parameters in terms of values and timescales?
Timka says
I don’t know how to do it ,Dale but will read up on here, I am sure it is posted somewhere.
GH says
I’m at the 7 week mark at the moment with cashasap. I’ve not even had an acknowledgment email about receiving my complaint. Has anyone else made a complaint to cashasap and how did that go? TIA
Darren says
Hi I’m at 4 weeks emailed them as had not recieved acknowledgment of my Complaint 13th May recieved emailed yesterday saying will have a final response before the 8 week time frame
C says
Hey, little advice with cashasap – make sure you don’t accept their first offer of redress – I went back to them to negotiate before sending to ombudsmen and I went from their first offer of £353 to £556 and was in my account within a few days! Good luck :)
James says
Hi Sara,
I was wondering if you have any advice. I have copied a direct quote from PiggyBank:
“Because of the level of your outstanding balance and the fact you have not responded, we are beginning to feel that this is potentially deliberate evasion of payment. This can result in you being added to the CIFAS register. This is the National Fraud Database. This could limit your ability to get credit in the future.”
Can you advise if this statement is actually legally correct. I find it very hypocritical that they are preaching such threats, given their wrongdoings.
Sara (Debt Camel) says
It sounds unlikely!
But why aren’t you talking to them? How many times did you borrow from them before this defaulted loan?
Ade says
Hey Sara,
Just want to say again, this website is absolutely brilliant!! It should be nationally advertised!
I used your template for raising affordability complaints to sunny and also so amigo (I was surprised about that one!). Anyways… Amigo agreed to my complaint and paid me out within 2 months of me raising the complaint. I called them yesterday to confirm my bank details.
I received word from sunny that they rejected my claim.i had 63 loans with them over 6+ years. The case is with the FO but they are going really slowly. They emailed me this morning after chasing to say Covid is slowing response times etc.
Sunny confirmed on email I had 63 loans with them, but at no point have they told me how much these loans amount to, or the total interest paid. How do I find this out as. I’m eager to try and estimate how much I should be owed by them.
Thanks again, you’re amazing.
Sara (Debt Camel) says
you could look at your emails? bank statements? credit reports?
Ade says
So I got a report back from sunny with a complete breakdown.
63 loans since 2013
Total borrowed £10,219
Total Repaid £16,179
And they rejected my claim. The bank statements I sent them had loan payments to a number of other payday loan companies as well as many gambling transactions. I’m amazed they rejected my claim!
Hopefully the FO backs my case. Do you think I’ve got a chance based on your incredible knowledge and experience with this stuff?
Sara (Debt Camel) says
63 loans! Good move to send the case to FOS – it sounds a good one to me.
Ade says
I wasn’t sure if going direct to the FOS was the next step tbh. I’ve read people mentioning an adjudicator before going to FOS but wasn’t sure what that was so just went direct to FOS. I’m just hoping they are quick to get a resolution. They had emailed me to say that they were waiting on sunny to send them a record of my account, but maybe that’s the borrowing summary sunny sent me today. Hopefully that speeds it up. S***ting myself with all this talk of liquidation with other providers…
Sara (Debt Camel) says
“an adjudicator” is the name given to the person at FOS that first looks at your complaint. 90% of cases are settled by adjudicators, only 10% need a full Ombudsman decision.
Ade says
Hi Sara,
So after not hearing anything from my adjudicator for a few weeks I have just received an email from the FOS basically saying “thanks for your complaint against sunny…please send over all Doc’s blah blah blah” and it had a new case number assigned to it. So I emailed my adjudicator AGAIN but this time she replies to say;
Hello,
Your case has been transferred over to another department. Some cases we deal with come under short term lending, and some are running account credit like yours. The case will be allocated to another adjudicator and they will be in contact with you shortly.
Firstly, I’m a bit annoyed that I’ve had ZERO updates and the first time my adjudicator replies to me is to say “yeah, I’ve tossed your case to someone else to deal with”.
Secondly, I’m worried that this is starting from the beginning again.
Have you ever heard of this happening?? Do you suppose this is a good thing for my case or a negative thing? I appreciate you don’t work for the FOS, I just thought in case you’ve had other people tell you this has happened to them. Thanks again
Sara (Debt Camel) says
it happens sometimes. It wasn’t the first adjudicator’s fault, sometimes it takes someone to look at a case in detail to realise they aren’t the person that is supposed to handle it.
Ade says
Has anyone had an update from onstride?? They went under months ago, but not heard anything.
Sara (Debt Camel) says
See https://debtcamel.co.uk/quickquid-casheuronet-administration/ for the latest
Rosie says
Has anyone had any dealings with Quidmarket ? FOS upheld my complaint against them and am due a refund. They have until next week to issue it, just wondering if anyone has dealt with them and should I expect to receive on time.
Jordan says
The worst company I’ve ever dealt with. I would phone them up, I waited nearly 2 months for mine. They will just muck you about otherwise.
George says
Hi Sara
I need second thoughts on this offer please
Here are the figures
Their offer is 557
Borrowed 1130. Interest 354.64
From November 2011 to April 2012 (Had 4 Rollovers) Not held
18month gap
Borrowed 625 interest 178.13
From December 2013 to January 2014 (upheld)
4 years gap
Borrowed 1690 interest 417.92
From May 2018 to February 2019 part held
Not sure if this is a good offer! What are your thoughts please.
Much appreciated
Sara (Debt Camel) says
Borrowed 1130. Interest 354.64
From November 2011 to April 2012 (Had 4 Rollovers)
Do you mean you had a loan of 1130 that was rolled 4 times? or a loan of £210 that was rolled 5 times?
George says
No they were 7 different ones adding to that amount in that period
125 rolled over paid 156.25 on 11.11.2011
115 Paid 149.53 On 25.11.2011
150 Paid 195.06 on23.11.2011
200 rolled over Paid 260.05on 20.1.2012
190rolled over Paid 247.08 On 17.2.2012
180Rolled over Paid 234.07on 15.3.2012
170 Paid 221.10 on 13.4.2012
Sara (Debt Camel) says
so those were all small loans.
The offer looks OK to me.
Steve says
Hi,
Anyone know if Provident/Satsuma are going under? FOS adjudicator ruled in my favour in early May. Provident have ignored her and are three weeks over their allotted response time and refusing to respond.
Sara (Debt Camel) says
I have no reason to think they are! They are a large financial company, listed on the Stock exchange. They also own the Vanquis card brand.
lee says
Interesting that they are part of Vanquis!
Satsuma were much better than I could of expected, I only had one loan and had a balance due which I was willing to pay minus the interest, without any fuss they have agreed to cancel the interest and as a gesture wipe off the outstanding amount, could not fault them!! This was all within 4 weeks, the responses come from provident.
Vanquis however have refused my complaint and I have disputed this with them via email, I am now awaiting a response but it is not looking promising! I am awaiting results of SAR and will probably refer to FOS!
Michael Rivers says
Hi Steve , it seems a regular thing with Provident to hang onto your redress for as long as possible. I had a decision upheld by the adjudicator back on March 13th and they paid up last week. That’s the best part of 3 months after being found at fault. Hang in there you will get your money but you just have to be patient. Good Luck
Chris bolton says
Hi
So I’ve been through the whole refund process with wageday advance who was taken over by shelby finance due to wageday going in to administration. Now Shelby have said the dont owe any refund as it wasn’t actually them that lent the money however still reporting a default on my credit file. Surely if they don’t want to take responsibility for the money lent out then they have no business reporting defaults for the money they won’t take responsibility for?
Sara (Debt Camel) says
did the wageday advance administrators agree the last loan which was sold to Shelby was unaffordable?
Chris says
Thanks Sara and everyone on this forum! My last PD Loan complaint has just had it’s final decision.
After LS ignored the Adjudicators decision, the Ombudsman has upheld their decision this week meaning I will end up being a CCJ lighter along with a refund to go with it.
Just waiting for LS to acknowledge and give me the offer now!
Sara (Debt Camel) says
that’s a good ending!
Diddy says
Well done. Mine against LS has just been picked up by the adjudicator….been waiting 7 months. Keeping fingers and toes crossed for a good outcome.
Only.QQ and Moneyshop to go…..
karl says
Thank you for making this website. I used the template with a but of personalization, and sunny rejected so I sent it to the ombudsman on the 10th of april. My case for 32 loans with sunny was picked up by an adjudicator on the 5th of June , and they got back to me on the 10th saying that I shouldn’t have been given loans 5-32and that sunny should refund the interest and fees + 8% and minus tax. Its not a massive amount maybe 1700, and sunny have till the 24th to reply.
How are sunny usually with the adjudicator’s decisions?
Ade says
Omg that’s amazing. 5 days for the adjudicator to receive the case and conclude in your favour!! Mine had my case on 23rd may and they are still waiting for sunny to send my case file. It’s strange how this works isn’t it. Like it’s not like first come first served….it’s just random it seems. Great news for you though!! Take the offer because it could be months before you hear back if you reject it.
karl says
Thanks. It could be that they got a more competent person at sunny. I’m hoping if sunny do give an offer its not ridiculously low, anything over 1.1k I’ll be happy with !
Jay says
Im hearing satsuma loans have gone into administration. Is this true?
Sara (Debt Camel) says
not that I have heard!
LukeMcgarry says
I was told by a friend they had, if you apply for a loan they do not let you
Sara (Debt Camel) says
A lot of bad credit lenders are doing verY little lending at the moment because of Coronavirus which makes it very hard for them to guess which people, apart from key workers, will have a job in a few months.
Satsuma are a brand of Provident. Provident’s quarterly figures, published last week, didn’t suggest they had big problems.
George says
Hi Sara
Thank you for your past replies again, it’s been so helpful
I have a few more to deal with as it stands I’ve had 2 redress and well happy for it (hippe)
I feel though with lending stream it’s a real challenge.
Their final response did not include what I paid in total just how much I was borrowing.
I have all the sums paid including interest and dates etc.. I must say it was a struggle to pay back.
The system in place with LS is a number token service which does not hold its purpose I think it might just be automated….. I have asked for for breakdown Of my loans a few times now it’s been 2 weeks no reply as such.
They offer is 103.04
On the following
150 23/02/2019
200. 14/09/2019
100. 16/09/2019
150. 17/09/2019
100. 19/09/2019
Amount borrowed 700
Interest paid 455.13
I had to delay payments on the last 4 loans since the dates were so close to eachother and I paid a lot more then originally… I have mentioned this in the email to consider their offer, not very hopeful I’ll hear anything.
They are offering a redress amount for loan 5 only which was 100 ( redress offer is 103.04)
What are your thoughts! Is this a fair deal.
I just think what I have paid in interest back it’s a bit of a slim offer!
Considering LS are not the best to deal with not sure what to do?
Any thoughts would be much appreciated
Thanks
George
Oliver says
Hi Sara,
I have been using the template emails to send off complaints to a few different payday loans companies. I have had this response from MoneyBoat this morning. Just wondering how best to proceed. I am a little worried about this part:
“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.”
Any help is greatly appreciated.
Many Thanks
Oliver
Carole says
Hi Oliver.
I had one loan with money boat for £250. They sent the exact same kind of threat to me which I worried about and then I though no I’ll let FOS decide. They had it 2 weeks and upheld my one loan with them and money boat accepted straight away there decision. Send it to FOS. Seems this is how they reply to all Conplaints to put you off.
Oliver says
Hi Carole,
Thanks for your reply it’s certainly eased my nerves a bit.
So did you just send everything straight to FOS once receiving this reply.
Or did you send all your bank statements etc to MoneyBoat first.
I thought FOS only looked at the case after the 8 week period.
Oliver says
Hi Carole,
Thanks for your reply it’s certainly eased my nerves a bit.
So did you just send everything straight to FOS once receiving this reply.
Or did you send all your bank statements etc to MoneyBoat first.
I thought FOS only looked at the case after the 8 week period.
Carole says
Hi Oliver, you need to wait the 8 weeks or until you have a final response from money boat before sending to FOS. Money boat are quick though. Mine was 3/4 weeks if I remember correctly. Send all bank statements and supporting documents for your complaint to money boat and await final response. If not upheld then straight to FOS with everything you’ve sent money boat. I think these words are just scaring tactics.
Sara says
Ombudsman has just ruled in my favour against my Sunny complaint. Original complaint sent Nov 2019. Adjudicator picked up in Feb 2020 and ombudsman sent me their final decision today. Hope I get the money back in time for my summer holidays
Ade says
Hey Sara,
Do you think I should chase my adjudicator or will I just peeve them off and cause it to take longer? She has my sunny complaint, but she’s not very good at letting me know what’s happening. Has anyone else experienced this? Is it just silence until you get a conclusive decision? It’s frustrating not knowing! :)
Scott says
Hi Ade,
As long as they have the business file then they will review your complaint and give you their opinion on what should happen.
How long has it been with Adjudicator?
Scott
Ade says
Hey Scott,
The FOS have had the case for about 5 weeks. I received the email from my adjudicator introducing themselves on 23rd may. Since then I’ve had one reply saying we are waiting on sunny to send the business file. So I replied with the file sunny sent me with the list of loans I’ve ever taken and asked if that’s what’s they were after….but no reply. I’ve chased since and the adjudicator hasn’t replied to me. Obviously this is a person in an office I’m dealing with. I just find it rude that they don’t reply to my emails asking for a progress report or update. I don’t think it’s reasonable that they can keep silent until the time comes that they make a decision worried sunny will end up going under like every other firm seems to recently and then I won’t see a penny. I’m due about £6k (to my calculations) grrr
Scott says
Hi Ade,
5 weeks is not a long time to be waiting, many people on here have been waiting months for a decision from the FOS.
The business file that the FOS receives is different from the information that you get as it includes “Business sensitive” information.
Sunny are notoriously slow at providing information to the FOS and they will be given a date to supply their file by. They then usually ask for a bit extra time. Unfortunately they are allowed to request extra time as are you when information is requested from you.
Whilst I know how frustrating the wait is, you really need to just give them time to deal with it, as I said earlier many people on here have been waiting months without hearing anything.
I’d give them about 3 months just now and then call for an update.
Scott
KPV says
Hi,
I’m wondering if anyone has had any success with complaining against SafetyNet Credit?
I was borrowing for nearly 4 years, living on their money every month to get by and got stuck in a terrible hole of more and more borrowing.
I put in a complaint yesterday, and today they have responded saying it has been moved to the complaints department and they have up to 8 weeks but hope to get back to me in 4.
Just wondering if anyone has any success stories from this particular company?
Sara (Debt Camel) says
LOADS of successes!
andrew d says
hi i have a complaint with provident i asked for information about my loans they have no record of any other loans apart from 3. I have had around 9/10 of them over the years i have done an SAR still got only 3 loans i have signed agreements to every loan i every had but apparently they delete them of there system which is convenient isnt it what can i do to get this information surely they cant just delete it and nobody can ever get this again when i done the SAR they took over 2 months to send it to me then just sent me the exact same info i was given back in Feb i think they are going out there way to waste my time and not do anything about this complaint i have escalated it to the ombudsman but without any info about my other loans on there system what are they gonna be able to do about it anyway i dont know who else i can go to about it
is it legal for them to not have any record of loans ive had from them before ? how long do they have to keep my information for before they are ok to delete it all i cant remember what year i started my account with them i think i remember reading something about 2007 is this the date they should have records of my account from ? i was only 18 in 2000 so couldnt of had an account with them before that anyway and i dont think i had one until i was in my 20’s if not later doesnt seem right to me tbh and the fact i didnt get any reply to any email i sent about the extra loans until i done the SAR and sent my case to the ombudsman
Sara (Debt Camel) says
do you have any records (emails? bank statements? agents books? anything) about the loans?
the Ombudsman can’t look at any loans before 2007. This has nothing to do with when a company should keep records from.
when did you stop borrowing from them?
andrew says
i had my last loan in 2017 my older loans was all before they started using a tablet/ipads and was paper work but i didnt keep any of it didnt think i would ever need them i think they are making sure everything over 6 years old is removed now to avoid paying any more money out to people seems like they are anyway
Sonya says
Hello -does anyone have email addresses for Sunny to give them a shake please?
Lynn says
customerrelations@elevatecredit.co.uk
This is the one that has emailed me.
P. says
Look on their website. It’s on there.
Neil says
Pbaldry@elevatecredit.co.uk is the CEO
Brian says
I had a reply from Indigo Michael Ltd, (Safety Net Credit) stating how they believe my loans werent unaffordable as my disposable income went up every month along with my credit limit. The limit was originally 200 and rose to 750. My wage remained the same so this isnt true that my disposable income also rose. They then also stated how i apparently spend 200 a month on leisure and restaurants which again doesnt add up.
They stated in their final response that i have no case and to go to FOS if i feel otherwise.
Made the complaint in March, had a reply 2 weeks later asking for credit report, statements, communication between myself and SNC etc.
Rang 3 weeks later and it had all been accepted and was waiting to be passed to an adjudicator.
But since april i havent heard anything more. I see above it states it could take upto 3 months for a response.
Just wondering if anyones had a claim against SNC upheld even when they have denied a case. In total i took 243 deposits from them over 3 years. Over 1.8k interest paid
Dana says
i guess i was lucky with them. It took total of 1 week to get refund from them. I had still outstanding balance to pay so they have used money that i have won to clear it and close account and on the top of it i still get around 400£ into my bank account.
Simeon says
Had a complaint denied by SNC and sent to ombudsman. Was with them for about 6 ‘months to be honest but they agreed with me and overturned the decision by safety net.
Once safety net agree and then ask you for bank details payment usually made by two weeks
L says
Hi Sara
Unfortunately I got into financial difficulty under three years ago due to being in a financially abusive relationship. My ex partner took out about 12 payday loans in my name due to my good credit, I couldn’t prove he did this so I repaid everything but had to enter a DMP for a year so on my TransUnion credit report it shows as about 6 missed payment although I was on a DMP.
The loans were all clearly unaffordable based on my bank statements, do you think I’d have a chance at making an affordability complaint as my main priority is to get these missed payments removed from my credit report.
Thanks in advance
Sara (Debt Camel) says
were these 12 loans all with different lenders?
L says
Yes there were six from sunny, 2 from lending stream, 2 from QuickQuid and 2 from satsuma loans all within two months. If these companies had requested my bank statements they would have seen that I was in financial difficulty and couldn’t afford repayments, the income and expenditure entered wasn’t accurate as not entered by myself.
Thanks
Sara (Debt Camel) says
The strongest affordability complaint would be likely to be to Sunny loan. You may have difficulty winning a complaint about the others if there were only two loans and they were small, but you can try.
L says
Hi Sara
I put these complaints in last week and Provident/satsuma have upheld the complaint and refunded all interest and removing data from credit file! So pleased didn’t expect that!
I’ve had an issue with sunny which is my fault, I put a complaint in May last year, however when they declined I didn’t follow it through to the ombudsman, I sent another complaint as I had further unaffordability evidence but they’ve said they won’t consider looking at it as they sent my final complaint last May. Is there anything at all I can do or am I probably out of time with this one?
Sara (Debt Camel) says
out of time I am afraid.
Neil says
Hi Sara, after a protracted series of emails Sunny have offered to make me a payment of £2075. I borrowed £30,000 from them over 5 years while caught in a debt spiral after being made redundant my a private school that went into liquidation and did not pay me my last 2 months wages or any redundancy money. I have worked out I paid over £7,000 in interest to Elevate Credit during my dealings with them… I feel it might be worth refusing their offer and pursuing them via the FOS… do you have any advice? Thank you, Neil
Sara (Debt Camel) says
So you have the choice between taking the bird in the hand or going to FOS and possibly getting a MUCH larger refund. It seems likely you would get a larger offer from FOS but it could take many months and there is some risk – I can’t say how large – that Sunny could go bust.
Difficult choice.
Neil says
Agreed! Thank you. I’ve made a counter offer, hopefully they will accept that.
Ade says
Hi Neil,
Sorry to hear you are having a tough time with sunny too! Can I just ask, did sunny initially reject your claim or was the £2075 their initial offer/response?
I borrowed a similar sum over 7 years and they replied to reject my claim. I’ve since sent it to the FOS, but I’m interested to know if your number of emails to sunny helped get ‘some’ kind of offer.
Ta
Neil says
Hi, it was their initial offer, I was borrowing on a bad credit rating continually for nearly 6 years and I often had to take multiple loans over the course of a month to stay afloat. I imagine they’ll reject my counter offer and l’ll end up at the mercy of the FOS, provided, as Sara says, they don’t go bust before a judgement is made.
Martin says
Hi
I put in An affordable Complaint and I received my answer today which was that amigo agree with my complaint and they can not be sure they did everything in their power to do all the necessary checks.
I have had 5 loans over 5 years
1000
1000 top up
1250 top up
5000 top up
5000 top up
Current balance is 4876.00
None were brand new loans
They have said that via a phone call today that I will still have a balance after does this seem right
Who could I seek advice from
And should I wait for the official redress letter with the confirmation of funds owed or not owed.
They have also took all liability from my guarantors also
When counter offering exactly what can you ask for
Thank you
Sara (Debt Camel) says
Hi Martin,
Amigo are making a lot of these offers in the last couple of weeks. See the comments below the guarantor loan page to see what other people are saying.
If you know some details about your loans, I can look at whether their offer is right.
What I need to know for each loan is :
– what you borrowed (you have already given those numbers)
– what you received in cash for the top up loans
– how much you paid to the loan eg 8 lots of £131.
When did you take the last top up?
Martin says
Hi thanks for replying I hope the information below helps a little further
Number 1
I recieved 1000 in to my bank
I paid 10 payments of 103 pounds
Number 2
I received about 800 and paid 61 pounds for 20 payments
Number 3
I received about 800 again
And paid 87 pounds for 4 months
Number 4
I received about 3700 and made 9 payments of 243 pounds
Number 5
I received 500 pounds and have made with Covid-19 in mind 7 payments of 197.00
And 2 payments of 90 pounds
This are not exact but close ish.
Sara (Debt Camel) says
on your rough figures, i make the interest you have paid:
L1 230
L2 670
L3 398
L4 1687
last loan, you have only paid 1559 so far so would still ow 3441 befaor that is repaid.
But if they are all being refunded, then the refunds from the first 4 will repay most of that leaving you owing a balance of £456
Martin says
Thanks for this considering it was close to 9000 with interest as it stood and considering they will set up a payment plan with my financial needs in mind
I’m guessing this could be a good situation for me considering where i stood
These are the 3 things they have said they are going to do.
1. The removal of all interest charges under the loan agreements;
2. A refund of any payments you may have made in excess of the capital amount of the loan agreements, along with 8% simple interest; and
3. The removal of any adverse information from your credit file in respect of the loan agreements
Sara (Debt Camel) says
they will set up a payment plan with my financial needs in mind
What do you think you can afford to pay each month? Tell them this…
Martin says
Thank you for this help
Shebs says
I’ve just had a complaint against skyline upheld had to go all the way to the ombudsman they never even replied to the adjudicator they fought tooth and nail quoted all sorts from the FCA but don’t give up you will win in the end they did the dirty on my daughter but they got their comeuppance in the end keep fighting and claim
Den says
HI All, ON the 30th April the Ombudsman awarded that loans 1-12 from Moneyboat should not have been lent. They gave them within 4 to 8 weeks to settle and fund the compensation. To date Moneyboat have not responded to my emails. 25h June is the end of the 8 weeks. I am wondering has any one had any similar dealings with them and/or a contact email that might actually encourage a response? Any suggestions?
Thanks
Sara (Debt Camel) says
was this a decision from an adjudicator or an Ombudsman?
Den says
HI,
Thanks for reply. It was the Ombudsman final decision. They matched the adjudicator (who decision was last November).
Sara (Debt Camel) says
Have you tried emailing accounts@evergreenfinance.co.uk ?
Den says
No, only the moneyboat emails – general customer service and the complaints manager.
Thank you, I will try this email address.
sjp says
I dont know if anyone else has had dealing with Minicredit in the past but i recieved this today out of the blue i dont know if it is of any interest to anybody.
I appreciate it’s been some time since we were last in contact with you about your complaint against Microcredit. But the reason we’re contacting you today is because the liquidator for Microcredit has been in touch with us to find out whether we are aware of any individuals whose complaints had not reached a conclusion given the liquidation of Microcredit and were still outstanding.
If you haven’t already and would like to make a claim in the liquidation of Microcredit, you will need to contact the liquidator directly using the details below:
Ideal Corporate Solutions
01204 663 000
help@idealcs.co.uk
Unfortunately, we’re not able to help further and it will be up to the liquidator to decide if your claims as a creditor are accepted in the liquidation of Microcredit.
If you have any questions about this the liquidators will be best place to answer them.
I apologise if you felt this email came out of the blue, but we thought it was important to get in touch so you have the ability if you so wish to forward any potential claim in the liquidation to the liquidator.
Many thanks
Sara (Debt Camel) says
who was that from?
Kerry says
I have received this too through the resolver tool which I used to complain last year.
Kerry says
I mean from the FOS through the resolver tool
sjp says
I received it through resolver today. The case was closed a long time ago with no decision made as they went into liquidation.
Tom says
Hi Sara/all,
I am looking for some advice please?
I had two loans with Satsuma 1x £500 and 1x £300, repayments including interest totalled approx £1.5k. In total, I paid back approx £100 of these but was in a serious debt spiral and these then defaulted and nothing has been paid since.
After seeing the light (and this site), I have been working hard to get myself back on track, setting up repayment plans to all providers but also complaining about irresponsible lending to each one too.
Satsuma are the first company to respond to me and have offered the following:
Write off the interest accrued.
Write off the remaining amounts owed (no further payments required from me).
Removing any adverse marks from my credit file.
This seems like a reasonable offer to me (writing off approx £1.4k of a £1.5k debt and removing from my credit profile that I did not pay). Ideally, I would like the loan removed completely from my file so it doesn’t show at all, but I am unsure if this can be done?
Please can someone advise as to whether they feel I should run with this offer?
Thanks,
Tom
Sara (Debt Camel) says
It is a surprisingly good offer, better than you are likely to get from FOS, I suggest you take it.
Tom says
Hi Sara,
Thanks for your help.
I really think it is indicative of my case. At one point during the issues, my ClearScore credit score was literally 0! I am well on the road to recovery though!
I’m sure I’ll be asking your opinion in the future too.
Tom
Lynn says
Hi guys,
From your own experiences has lending stream and sunny gave a final response before the 8 week mark, I’m currently at 7 weeks and 1 day since submitting my complain and haven’t had any correspondence from any of them, everyone else took about 3 to 4 weeks.
Thanks
P says
Lynn
From my experience Lending Stream are by far the worst, obstructive, unhelpful, rude, ignorant and dismissive company to deal with. They do not stick to the rules and ignore deadlines from the FO.
It was about week 16 when I got my final response. They are also difficult to get on the phone and ignore emails.
Hopefully they cleaned up their act now and you get response within the 8 week. So good luck with that.
Sunny compared to LS in my case were ok. Stick to deadlines. Got reasonable offer and got paid out.
Sorry to be the bearer of news you probably didn’t want to gear. But I say it as it is. And it was appalling customer service that I received from Lending Stream. Though my experience was shockingly bad. I am told other people’s has been worse.
Lynn says
Hi P,
Thanks for letting me know.
Thought it would be a ling wait for lending stream!
Mike_p says
Lending Stream were by gar one of the worst companies I dealt with, they do absolutely everything they can to slow down and frustrate the process and make things as difficult as possible for anyone involved in complaining. They delayed providing my final response to the 9 week point, and they delayed responding to my adjudicator until the 5 week point ecen though she had given them 2 weeks to reply. I emailed them about 12 times to ask about progress but they just ignored me every time, my adjudicator also emailed them twice to ask about progress and they ignored her too! I phoned them to ask about progress as well but they just fobbed me off. They eventually reposnded to the adjududicator and paid me withing the allowed 4 weeks (although it was only about 1 day short of the end). At the end I emailed their CEO Chris Deboer to complain about my experience but he ignored my complaint. It’s funny how they can transfer money in 90 seconds when there’s profit in it for them, and email you straightaway if you miss a payment!
Melissa says
So I’ve had a response to the adjudicator regarding Sunny, who state I have a case for loans 4-11 out of 11.
Do sunny usually fight the adjudicator decision? They have until 5th July to respond.
Also with Peachy it’s over 4 months since my complaint, I’ve chased them up and they say they’re still not in a position to give me a final response (I still have outstanding balance but my account is on hold until they respond), am I right in thinking I can’t take it to FOS despite the timescale due to them being in administration and I can’t fight it even if they say no? Very similar case to sunny regarding loan amounts and timescales.
Thank you
Sara says
Sunny came back to me with a dreadful offer after about 10 days. They completely ignored my husband’s case so both had to go to an ombudsman. Mine got picked up after 4 months and ruled in my favour. My husband is still waiting but it’s not been that long yet
Kat says
Sunny had until the 20th to get back to my adjudicators decision….they didn’t even respond. So now I am going to have to wait until the Ombudsman picks it up. I hope you get a response, it’s just so long waiting and hoping!
J S says
Hi, has anyone had any dealings with Amigo? They rejected my claim based on age profile of loans, but adjudicator has stated that these loans should be reviewed.
They had a deadline of 30th April to respond.
I have chased up adjudicator and he advised they are taking longer than usual as they have started to review loans they previously considered our of time.
I am hoping this is good news, although I wish they would hurry up!😬
Sara (Debt Camel) says
Amigo have told the FCA they will review the whole backlog of cases. That seems to include the over 6year loans as a few people have said in last two weeks they have been contacted by Amigo and told their old loans are now being refunded.
This was supposed to have happened by the 26 June…
Todays news https://www.londonstockexchange.com/news-article/AMGO/update-on-complaints/14585525 is that they now want longer to review more recent complaints too.
KPV says
Hi guys,
Does anyone know if PoundstoPocket are still doing refunds? I made a complaint to them this morning after discovering this site and complaining to all the irresponsible lenders.
I have had success with SafetyNet Credit, I am expecting my refund by the end of this week (they got back to me in 3 days from the complaint being made, so was really surprised at how quick it was!)
But I have seen this morning now that poundstopocket have gone bust, so is it too late for me now?
Sara (Debt Camel) says
no it’s not – you may only get a very small amount back because of the administration, but you may get the loans removed from your credit record which can be worth doing!
Cazza says
I have today submitted a complaint to Safety Net credit, does anyone have any experience with them?
Shebs says
Yes they are very good they upheld my complaint without going to fos
KPV says
Yes! I emailed them last week, they got back to me within 3 days with an offer, I accepted and they money will be in my bank by this Friday and all negative markers will be removed in 6-8 weeks!! I cried happy tears!
Cazza says
I’m hoping they come back quickly, my son transferred his car insurance money to my account so I could pay it whilst he was at work and they have taken the lot.
They have also removed my ability to withdraw money so I can’t insure his car, I am waiting for them to get back to me.
Sara (Debt Camel) says
They have also removed my ability to withdraw money
they may have taken the money in your account but they can’t prevent you from taking out money that is in your account.
Cazza says
I meant in terms of re-borrowing. My first thought was I will just have to withdraw money (as they term it) but it has blocked my borrowing ability.
Sara (Debt Camel) says
ah, well yes as you made a complaint. You should have cancelled the CPA to them with your bank when you made the complaint so they couldn’t take more.
Cazza says
I had cancelled it, this was first time I had been paid and they hadn’t been able to take my entire wages and then I submit a complaint and literally the same day they take the money.
James says
Update: Currently four weeks in and awaiting a response from Sunny, Lending Stream and 118 118 Money. I have received their generic replies, but no specific response to my unaffordable lending complaints as yet.
Has anyone had luck with 118 118 Money? From reading the comments, Sunny seem to reply just before the deadline with a mediocre offer and Lending Stream seem more difficult / unwilling to reach a resolution.
Summary:
LS, 24 loans, £5,090.00 borrowed, £8,846.91 repaid
Sunny: 25 loans, £5,800 borrowed, repaid in full with value TBC
118 118 Money: 4 loans, £11,679.22 borrowed, £22,195.44 repayments with c. £3,800 outstanding
Mk says
Hi James,
I complained to 118 118 at the end of the January, then lockdown happened and they emailed me saying they needed more time to look into my case. Then I got an email from 118 118 some point in May, saying they did not agree with my 1st loan but my second loan they did, so I received a refund just under 2k, they paid it within a few days but I think because they took so long resolving my complaint the money was in my account within 5 days. I would ask for an update from 118 118 and see where they are at.
Sunny rejected my complaint even though I had 16 loans literally one after another, so going to take it to the FOC, so I did have to keep emailing them too to ask for updates as they took ages to get back to me too.
James says
Thanks MK, appreciate your reply.
I have contacted 118 118 Money via their live chat facility and although no update as yet, they have supposedly requested an update from the relevant team. I’m hopeful they will refund my second and third loans, and write off the outstanding balance as I have paid the loan amount, with the second and remaining half made up of interest.
Thanks again,
James
M says
Hi wonder can you help I took out borrowing with safety net credit back in august last year, after the first time in paying them back I’ve been constantly borrowing off them again, originally started with 500 limit after couple months they offered an increase too 600 then to 710 the next month stupidly I increased and been struggling to get out of the cycle of borrow with them ever sense. Last monthly payment was around 930 so again this month had to borrow again to replace what I had spent with them. Reading through comments here do you think this could have grounds for a complaint as being in this spiral I have missed other payments etc
Sara (Debt Camel) says
I think it sounds as though the credit is unaffordable. I suggest a complaint.
M says
Update from safety net back to me today regarding complaint fully upheld have paid off my remaining balance and refunding me over £600 which is getting paid on Friday- delighted thank you guys
Alan says
Good afternoon,
I’ve got an ongoing complaint with Sunny. They initially rejected my case so went to the FOS. Sunny then eventually offered be a refund that I chose to accept. Not quite what the adjudicator had suggested but it was close so happy to accept. The FOS emailed me saying they’ve asked Sunny to settle it directly with me but it has been 1 week now and I’ve not heard a cheap from Sunny. I did give Sunny an email to chase it up but again not heard anything as of yet. Unsure if this is normal for them or what the situation is now..
M says
Thanks for advice I counted up I have paid back over 6k since taking out
Lee says
Hi,
Firstly many thanks for this site, it gave me the details and understanding on how to file my own complaint against Sunny.
I submitted an affordability complaint in August last year for 16 loans I had taken out. After Sunny rejected the complaint I took it to the ombudsman who last week sided in my favour for loans 4-16.
I was just wondering what happens next? Obviously Sunny have a deadline, but how is redress distributed? I have changed address since, but I’ve updated on Sunny just to be sure. I’m just wondering if anyone has dealt with Sunny, and if there is any communication via post, if they send a cheque, or just refund directly to the card/account that they have on file?
Many thanks, and keep up the good work!
Mk says
Hi Lee, hope you are well and keeping safe.
Could you let me know what you put in your email with your complaint to the ombudsman please?
Any advice would really be appreciated?
Thank you
Sara says
The ombudsman will have emailed Sunny at the same time as you and once you accepted the offer they would update Sunny. I emailed Sunny with my original rejection email from them and attached my acceptance of the ombudsman outcome to the email along with my bank details. 24 hours later I heard from Sunny stating the had received everything they need and I will be paid out within 4 weeks.Fingers crossed that this happens
Carole says
Hi Sara,
Do you know how to contact FLM quick or is they are still a company?
Thanks
Sara (Debt Camel) says
now known as Amigo! See https://debtcamel.co.uk/how-to-complain-guarantor-loan/ for guarantor loan complaints.
Carole says
Thanks Sara. I called Amigo and they said they don’t own “flm quick” loans they took over FLM loans and said I needed to contact FLM quick loans. Is this correct as I can’t seem to find any contact for “FLM quick? It wasn’t a guarantor loan at the time.
Sara (Debt Camel) says
ah OK, payday loans. I am not sure what happened to them. You could ask the Financial Ombudsman but it may be there is nothing you can do.
carole says
thank you for your help, i will ask FOS.
KarenH says
Hi Sara,
I have 2 complaints with the Ombudsman regarding Satsuma & Lending Stream. Ombudsmen have requested bank statements & copy of my credit report. I’ve sent my bank statements with no problem but I’ve spent ages trying to work out how to send credit report & still not succeeded! Please can someone help me. Much appreciated!
Jay ant says
Hi Sara
I’ve been in a DMP since 2016. I originally borrowed £23,000 in various loans/CC/pay day loans. I entered into the DMP and what I have now realised is all of the loans put the total amount of interest owed onto their balances. So with likely loans I borrowed £5000 and they say I owed them £8980.00 even though I went into the DMP only 3 months after borrowing the money. Is this legal? I’ve noticed a lot of the companies have done this and after 4 years I’ve only paid off £1000 from the original amount borrowed. But £10,000 in payments. After finding this I want to settle with them all for a figure but I want to see if I will get the interest repaid first. Do you think this is possible while in a DMP?
Sara (Debt Camel) says
Yes that is what typically happens with loans. Unlike credit cards you are liable for the full amount from the start.
After finding this I want to settle with them all for a figure
you want to offer a full & final settlement? where will you get the money from? How much do you still owe in your DMP?
If you think the Likely Loan was unaffordable, then send them an affordability complaint, see https://debtcamel.co.uk/refunds-large-high-cost-loans/ for details. And the same with other debts in your DMP. This could dramatically reduce the amount you owe in your DMP. And make it easier to repay the rest or settle it.
Jay ant says
Hi. Thanks for the response I still owe £23,000 on my DMP. I have just yesterday sent the loans. Companies unaffordable letters and also the payday loans. Piggybank have already come back and said a flat no based on the information I supplied at the time. I went through a 3 month period where I gambled every bit of money I loaned and have been paying ever since. I have been offered by a family member a £5000 gift. I wanted to settle with my creditors for this amount which I have sent offer letters too. Works out around 20% each. Probably won’t get accepted but if the loans hadn’t added the full interest they would nearly be getting all the money back.
Chris says
Hi Again!
The Ombudsman gave LS their final decision and my acceptance of the outcome two weeks ago and I’ve not heard a peep from LS yet!
Are they supposed to resolve everything within 28 days, or do I have to wait until they acknowledge the Ombudsman decision to me first? Either way it’s very frustrating!
Ts says
I have just received my cheque from Satsuma which concludes my 18 month turnaround from the payday loan trap.
When I was contacted by the administrators of WageDayAdvance to tell me that they would wipe my debt and I was entitled to redress, I couldn’t believe it. I always knew that you could claim from these companies, but with my good salary and gambling issues (which have now stopped) I thought I had no chance as it was entirely my fault. In the last 18 months I was able to recoup just over £21,000. I am very happy with that figure, but at the same time it shows how much of a hole I was in.
This site has some great info and the comments section really does help in keeping you motivated and hearing other people’s experiences.
Due to the size of the comment I’ll post the companies in the reply section.
Thank you to Sara and everyone who posts!
Ts says
SafetyNetCredit – I used these guys for over 2 years and they could see the issues I was having. Their reply was incorrect, as they stated they would pay me interest from when they raised my limit, which was 20 months of interest, but they said it was 12, after trying to correct them, they were rude and told me that was their final offer. I had an FOS complaint for 12 months, when I chased I was told it would be another 12 months as only a few adjudicators can work on SNC cases. With a lot falling into administration, I went back to SNC and took their offer, which was almost half what I was entitled to (according to their own findings) – £3480 paid
Ferratum – another I would pay back on pay day and take out the max again and again for over 18 months, they offered me £500. Went to FOS and won. – £2582 paid
Satsuma – Only had 4 loans so didn’t think I was in a strong position, they rejected my complaint. Went to the FOS anyway, they said that because of how many loans I had at one time, none of the loans should have been given. – £1588 paid
WageDay – the company that started all of this, £1750 loan was written off and £120 was paid by the administrators. – £1870 gained
Bamboo – I had 2 large loans with Bamboo, they were really good and offered to refund all interest from both loans. £1700, I then only had a hundred or so to pay off the loan. £1700 gained.
Ts says
WizzCash – didn’t expect much from them, as I used them less than other companies, but they replied in 2 weeks with a refund of all interest, great service – £1015 paid.
Sunny – A struggle to get hold of, they rejected my claim even though I would pay all their loans back on payday, and the same day re take out max loan so I only had to pay interest. They disagreed with FOS on some loans, but I accepted their offer – £2278 paid
SwiftSterling – Another one that I really abused by paying off the loan and taking it out the same day for months, they gave me an offer which wasn’t far off what the FOS would have, so I took it, a few weeks later they went into administration. £2116 paid
MyJar – Responded fairly quickly, but rejected my complaint. They agreed with the FOS and a quick payout – £2474 paid
LendingStream – Rejected my complaint also, even though my borrowing history was woeful, agreed with FOS. Took a long time to respond £2413 paid
Steve says
Hi. Last year I made a complaint to Microcredit ltd( Minicredit) through Resolver and it went unanswered so I forwarded it to the Financial Ombudsman, only to be told that the loan company had been in to liquidation. So my case was at a dead end , so I thought, until last week the FO got in touch with me saying they had been contacted by the administrator for Microcredit, to see if they had any further claims against that company. So I was given the email address and sent my complaint to them. I am still waiting for a reply but have my fingers crossed that I can get a resolution. The loan was for £300 back in 2010 and it was sold to Kapama Ltd who sent a statement last year for nearly £900. If it is agreed that they acted irresponsibly in the first place do you think that the loan can still be wiped off? I am not too bothered about compensation just the debt.
If I get a satisfactory resolution then it shows that not all brick walls are a dead end.
James says
Hi Sara,
I went into a DMP in Oct 18 and Satsuma/Provident is one of my creditors. I’ve noticed that, despite agreeing to the terms of my DMP, they have marked my credit file as ‘missed payment’ every month since Oct 18. So I emailed them about it and they came back saying that I would need to make an official complaint to proceed.
I have requested they scrub any trace of their company from my credit file and compensate me with a thinly veiled threat of an affordability complaint to follow up this one.
Today they’ve come back to me with a bizarre email, as follows;
—
Dear James
Thank you for your email and for confirming this for us!
I can totally understand why you would want to raise a complaint. If your credit file is as you have advised, then if I were in your shoes I too would be raising a complaint. Things will of course remain amicable between us. For now, I would like to offer our deepest apologies for reporting incorrectly to our credit file.
Your complaint has been raised. This should be resolved within 56 days. If it is not or you are dissatisfied with the final response, then you are more than welcome to take this to the Ombudsman. What are your thoughts?
—-
I’ve never had an email like that before when making a complaint to a PDL. Is this in a way admitting wrongdoing? Plus to ask me what I think of it at the end, it just seems very… casual?
Sara (Debt Camel) says
Weird.
I suppose they may hop to avoid an affordabiltiy complaint by doing this.
but really if you think you have a good affordability complaint you should make it!