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?
Lucia says
Hi,
I had loans with cash generator few years ago. Did anyone ever tried to claim unaffordability with them? And if so, is it worth to claim back as it was more than 6 years ago. They stopped lending in 2015. Thanks.
Lucia says
Hi Sara,
Have u heard about loans from cas generator? I am trying to claim a refund from every company I had a loans with cos I missed out so far with wonga, money shop and sunny cos I claimed late as I wasn’t aware of it.
Please can u give me any info at all?
Thanks
Sara (Debt Camel) says
Contact details for firms are on this page https://debtcamel.co.uk/payday-lender-email-addresses/
James Stevens says
Does anyone know what is going on with Piggbank loans and 247 moneybox? PiggyBank went into administration in December and I received an email of a proposed redress in January but that’s been it, and no update. I understand it’s been difficult times but that’s pretty long
James says
Hi All,
Has anyone had any correspondence from Lending Stream in the past couple of weeks? I put in a complaint at the start of March which they acknowledged, then midway through I received notice that it may take longer (16 weeks)
I am now on 19+ weeks and they are not even acknowledging my emails anymore. I will be forwarding to Ombudsman but concerned that they seem to be completely blanking my attempts to get any info
Michael says
I put my complaint into Lending Stream and about 6th week I got the email saying that due to Covid there is another 8 weeks added on. I said I didn’t recognize the additional 8 weeks, I am not 100% sure if FOS have given their blessing for them to extend 8 weeks. When I hit my 8th week I just went to FOS, seems to be the best approach for LS is to stall and delay as much as possible. From experience if they are given a date to response by that is 4 weeks in advance, they will reply on that deadline date.
FOS picked it up when I submitted it, they didn’t state anything about the additional 8 weeks that LS claim
Chris says
I haven’t heard from them since they first spoke to the Adjudicator. Since then it’s gone to the Ombudsman and I’ve still hear nothing from LS (it’s been three weeks since the Ombudsman ruled in favour of the adjudicator). They are poop!
Tom says
They want 16 weeks to decide on the complaint but this is not legal.
You can forward to the FOS after 8 weeks as normal.
Tom
Cazza says
SNC have just upheld my complaint after just under a week, all interest has been removed along with interest already previously paid, reducing my balance from £1174 to just over £400 which is amazing.
They have actually been a great company to deal with, last week they took a large amount of money from my account which my son had transferred to pay for his car insurance. They refunded the money the next day and then dealt with this complaint swiftly / very professional in this area.
Sara (Debt Camel) says
good to hear!
Gerda says
Hi Sara,
I requested quick quid to send me a list of my loans, so they gave me back my login to their page, but seems that all my history was wiped out in this case I explained them and ask them to send all history to me but as the last loan they passed to lantern creditor they replied to me that I need to contact Lantern Debt Recovery Services LTD. any advice on this?
Many thanks
Sara (Debt Camel) says
If you are planning to make an affordability complaint, just send it in, you don’t need the details.
A says
Hi Sara,
How long roughly does it take the FOS to rule on a complaint – of course COVID – has thrown a spanner in the works.
Thanks, A
Sara (Debt Camel) says
who is the lender? are there any loans over 6 years?
A says
I have two separate complaints, one against Safety Net Credit and one against Lending Stream. Both loans between 2017-2019
Thanks, A
Steve says
Hi I wondered if anyone has had a complaint from drafty upheld from an adjudicator then had to wait for ombudsman what the timescales might be? It’s my final complaint and the only one not concluded out 13 I started with overall been pretty good only 1 not upheld and managed to get paid out before a few that went under with the exception of wage day advance, I expect lending stream to go under before it gets resolved as they are a truly unpleasant company to deal with.
Thanks
Steve
Matt says
I complained to drafty which got rejected (yet lending stream upheld – same company). Since then I pass on to the adjudicator, been there for a few months now. Also pleased to hear if any other draft stories.
Steven says
My Drafty complaint has been with FOS for months and months and is my last one still going out of 7 affordably complaints. Makes me feel like the are just stalling. Same as U.B. or Sunny… I can see they disappearing. The FOS are giving these companies far to much rope….
JP says
Hi All,
Has anyone had any luck with Lending Stream recently? I sent in my complaint in April and has now been 13 weeks without a final response or any communication.
I have forwarded to FOS but I know the FOS process could take up to a year…. wondering if anyone has heard anything recently?
Thanks,
JP
Diddy says
Nope, mine was picked up by the adjudicator a few weeks ago after having submitted over 6 months ago. Assume she is waiting for LS to supply her with their information……. to expecting to hear anything for months.
JP says
Thanks Diddy,
Yeah that’s right, I completed a Subject Access Request and LS sent all my items across instantly but having phone the FOS just now, they need to wait on LS replying to their initial request. So I guess it’ll be taking a year!
James says
Nope, my adjudicator has been waiting since early March for LS to send my case file across – fake COVID delays
PM says
Anyone got an FOS case with Satsuma and made any recent progress? My case was assigned to an adjudicator 10 weeks ago but he’s still waiting for the case file from Satsuma. They’re obviously in no rush to send this so wondering if anyone else is in a similar position and can advise of a timeframe
Nick MB says
They are extremely slow. Mine’s been with FoS for over 4 months. My Adjudicator had to chase for over 2 months, and they’ve still managed to miss parts out.
My Adjudicator said Satsuma are well behind with working complaints. I personally feel like they are delaying because they are going to go bust.
Steve says
Sadly, I think you’re right. My complaint was upheld by FOS in early May and Satsuma/Provident are refusing to respond to any correspondence. I guess they’re waiting to announce administrators then pay 3p for every pound they owe some time next year
Sara (Debt Camel) says
Provident are a large company with a lot better financial assets than payday lenders. I have no reason to think they have financial problems.
PM says
How is it acceptable to take this long to simply send over a case file? One that must already exist because they sent me a final response rejecting my claim. It’s frustrating but my thinking is the same, they’ll go into administration before my claim gets anywhere near a potential payout.
Nick MB says
As someone pointed out on here last week, Satsuma have put a hold on direct lending, and are referring people Provident, of which they are part of.
I have zero faith in Satsuma, and zero trust as when my case file was eventual sent across just under two weeks ago there was information omitted, so my Adjudicator granted them two weeks to provide this, which is up this Wednesday.
My case has been going on since 08/12/19, and I really can’t wait to wash my hands of them.
HTLCO says
I have just had a response from the adjudicator an hour ago on my Satsuma complaint (which they are upholding yay!). I opened my complaint back on 27 November 2019, but last I chased FOS was 1 May 2020 and they still hadn’t received the file. Clearly in the last 2 months they have finally received it and a decision has been made. Fingers crossed yours will be resolved soon too. This was my final claim, outside of one with OnStride and one with Peachy. Although both are in administration so expecting nothing out of them.
Aaron says
Hi Sara, if a complaint about a debt from 2012 has gone through both the adjudicator and ombudsman process where they have now reached a decision, which I have not yet accepted, is it still possible for me to write off the debt as statute barred? Or has the complaint process indicated an admission of debt thereby resetting the clock back to zero? Last payment a was in 2012.
Sara (Debt Camel) says
when did you make the complaint?
Did you make any payments at all to this debt after 2012?
Aaron says
I sent the compliant letter on 24-09-2019.
Last payment was mid 2012
Tom says
Hi Sara,
I have received a response from Lending Stream and they have dismissed my complaint in its entirety. I think it’s a pretty laughable response – I had 10 loans with them (including 7 in a 14 month period totalling £6,650 at an average loan size of £950). The numbers they have sent through to demonstrate the affordability vary wildly which would give any reasonable lender cause for concern.
Do you think it’s worth my going back to them or do I just go straight to the FOS? Are there ever instances of them looking again? I can’t for a moment think that they believe they’ll win this one…
Sara (Debt Camel) says
I don’t remember anyone having any success by going back to them. I suggest sending the case to FOS. Do you still owe them any money?
Tom says
No, luckily they’re all paid back. Off to the FOS it is! Thanks
JP says
Hi Tom,
How long did it take for you to get a final letter response? I had 30+ loans with them so hoping they give a reasonable.
Did they give you a settlement amount?
Thanks,
JP
Lynn says
Hi jp,
I put my complaint in on the 30th of April and I have just today received my final letter. I had 23 loans at least one new loan every month over the course of a year and a half and they have said everyone was affordable!
JP says
Hi Lynn,
I just got my final response letter today too – I had 35 loans between Oct 2017 to Nov 2019 (total c£11k, interest paid £6.5k)…. LS have also said mine were all affordable. I only have one lending gap for longer than 3 months and that was between Sept 2018 – June 2019
I have had complaint upheld and resolved with 5 or 6 other payday lenders and LS are the only lender I’ve had to take to the FOS
James says
Just heard from LS after 18 weeks completely refusing my complaint. To the ombudsman now I guess.
Michael Rivers says
Hi, I had a complaint with Provident (satsumas parent company) and they were really slow as well. In the end I started to email the customer service managers on a regular basis and I ended up finding somebody that was prepared to help me. I felt then that they were hiding behind this Covid-19 virus as an excuse to delay payouts for as long as possible.
ben weir says
Has anyone else been receiving lots of ‘offers’ on reducing balances?? without reading between the lines are they going under??
Sara (Debt Camel) says
who is the lender?
David says
I’ve had reduced offer letters from Ferratum, Drafty and Satsuma in the last few days!
David says
Hi Sara
I have £1600 of debt with Payday UK, having had multiple loans. The debt is now with CRS, will my debt be cleared when The adjudicators apply redress assuming my redress is £2k will they clear my debt and pay the minimal % on the remaining £400 or do they apply the minimal % on the full owed redress. Hope this is clear?
Thanks
Sara (Debt Camel) says
assuming my redress is £2k will they clear my debt and pay the minimal % on the remaining £400
yes – this is what should happen.
C says
Hi Sara
Have just had my reply from CASH4UNOW not upholding my complaint for an affordability complaint.
I had 4 loans with them and they approved the new loan on the day I had repaid the previous.
The loans were £300,£400, £450 & £550
They said they do not uphold but as a good will gesture would give me £75 ?
They also said as I repaid them on time there was no negative remarks to remove from my credit file so they also wouldn’t do this.
Do you think if I went to the ombudsmen I would get anything?
Thankyou!
Sara (Debt Camel) says
How much interest did you pay on the last loan?
C says
Hi Sara
I paid £424.94 on the last loan?
Thanks!
Ciara says
Hi Sara I replied to them to negotiate whether they would pay interest from last 2 loans of 4 loans and they came back to say they would just refund the 4th loan, would you advise just taking it or going to ombudsmen?
thanks,
Ciara
Sara (Debt Camel) says
You may well only get the 4th loan refunded if you go to FOS. It isn’t a bad offer now they have upped it from the original £75.
Jordan says
A lot of people are getting fobbed off from Lending Stream. After about 6 weeks of making your complaint to Lending Stream, take your complaint to the FO.
It will save you so much time because Lending Stream look like the are rejecting everyone and taking a long time in doing so. Get yourselves in the FO queue because they have a big backlog.
Sara (Debt Camel) says
I agree, but you need to wait 8 weeks, not six.
John Smith says
Hi Sara,
Firstly, this site has been a saviour in the past 6 months. I have successfully completed and won 9/9 different affordability complaints. Although my credit file was my key intention, the financial benefits have been so helpful in these crazy past few months.
I have a specific question though. Having now worked to bring my credit files with all the main credit agencies up to date, I today received my Credit Karma report and it is showing as having a significant run of non-payments and a default account. I have searched and they are both in relation to an On Stride balance I have of around £2.2k.
This is my only remaining pay day loan account, and with the administration has been impossible to communicate with them. I have an affordability complaint against them, Pounds 2 Pocket and Quick quid – 3 of my biggest lenders. Given my other successes (without having to go to the Ombudsman) I expect any redress would easily wipe my balance.
The issue is I had hoped to agree a mortgage in the coming months and this almost single handily destroys that hope.
One last time, your advice would be invaluable and so appreciated!
Sara (Debt Camel) says
Not much you can do except wait – probably for another year or so.
Cazza says
I am in the same boat, Onstride keep filing defaults and are a nightmare to contact. I’m hoping everything will eventually be removed when settled but I’m not happy with their operating procedures
Chloe says
Hi Sara
I have had 8 loans with Mr Lender (at the same time of having MyJar and Amigo) they offered me a refund of interest on the 7th loan but not any of the others. I am unsure whether to accept or forward to the FOS, my claim with myjar was much smaller and they offered to refund loans 4,5,6 so I was expecting a similar outcome from Mr Lender. My loan amounts kept increasing and during the first four loans they sent me promotional codes and ‘congrats your credit limit has increased’ emails which I think preyed on my vulnerability and anxiety/depression. Following those four short term loans (no longer than 3 month terms) I took out the next four over courses of 12 months in close proximity to one another. Please could I have your advice. I don’t want to reject and send to FOS and get nothing. Is that likely?
Sara (Debt Camel) says
Do you still owe them money on the last loan? How large were the loans, can you list their size in order eg 100, 150, 200, 150 etc etc
Were there any large gaps (of more than a month) between repaying one loan and taking the next?
Chloe says
Thanks for your quick response. I do not owe any money to them. The loans were, 200, 350, 400, 450 (all four within the first year from November 2015 – August 2016) 750 (October 2016 over three months) 1000 (January 2017 within 30 days of paying previous 12 month loan), 1300 (January 2018 within 30 days of paying previous, again 12 months extended to 14 months due to a job change), 750 (May 2019 2 months after paying previous, 12 month loan – paid in 11 months, settled early)
Sara (Debt Camel) says
I suggest you go back to Mr lender and say you think FOS would give you a refund on loan 5,6,7,8 as the 2 month gap between loans 7 and 8 was not long, but as a compromise you would be prepared to accept a refund loan loans 6,7 and 8.
Leedk says
Hi Sara.
I would just like to know, I have had a decision from Mr Lender in respect of a complaint. They decided not to uphold the two loans I had with them, at the time of taking the agreements, I had upwards of 11k in unsecured credit, mainly with payday and subprime personal loans, and maxed out credit cards to the value of 1500. They have offered me a 25 pound voucher and offered to remove adverse markers from my credit file. Does this seem like a cop out to settle this as they know it may go in my favour if I took it further?
Sara (Debt Camel) says
how large were the loans?
Leedk says
Both 200 each, they game me a second loan after I told them with my first loan my employer wasn’t paying me, as I kept missing payments on the first one
Sara (Debt Camel) says
You will find it very hard to win a 2 loan complaint at FOS when they are both that small.
GH says
Go to the Ombudsman. Mr Lender refused to uphold my claim. A adjudicator upheld my claim and again Mr Lender refused the adjudicator decision. It went to the Ombudsman and they agreed with the adjudicator and were told to pay out aproxx £2k.
Ernest says
Hi sara … do you know any thing about Savvy payday loans are they accepting affordability complaint or irresponsible lending.. l make affordability complaint and they send me emails back that if l lie about my loan application is a fraud. Are they accepting affordability complaint and they payout .. just need your advice pls
Sara (Debt Camel) says
They are a tiny lender, not much mentioned.
Several larger lenders do this. Uncle Buck did. MoneyBoat. 118 Money. To name a few.
No one has ever had problems if they send their complaint to the Ombudsman.
Read https://debtcamel.co.uk/payday-lender-says-lied/ for why lots of lian applications aren’t accurate.
Mike_p says
Uncle Buck threatened me like that but nothing came of it when I took it to the FOS. They also tried to belittle my complaint by saying it looked like I’d used a template, despite their response clearly being a template itself!
Ernest says
Thanks so much for your reply … another questionpls in 2018 l make a complain about ppi interest with mr lender payday loan but they reject my complaint in 2018 but now l put in affordability / irresponsible lending last week they reject again saying l did not reply to them in 2018 or take them to FOS that time is over 6month.. l writing to them again to explain to them again in 2018 is ppi claim but now is affordability claim they are 2 different things.. they reject again but l just make a claim through FOS last week ..waiting for the reply
Sara (Debt Camel) says
That sounds like a very different complaint to me so FoS should agree to look at it.
ernestkola says
Do you know if any one has good success with Savvy loans pls?
And Just want to findout if you can win affordability complaint if you only took one loan of £500 pls..
Sara (Debt Camel) says
Savvy are tiny and rarely mentioned. If they reject your complaint send it to FOS.
it’s possible but not easy to win a one loan complaint that small . Was your income very low?
ernestkola says
My income is not low.. but l took different loan from another company at the same time .. about 3 different loan companies. I have to pay different loan this time
They reject my complaint already.. but l took it to FOS
Sara (Debt Camel) says
OK, this may not be easy to win, but give it a go!
Luke says
Hi,
I am being chased by Satsuma to make repayments.
I had a case opened with them about irresponsible lending. They upheld just small part of it and transferred what was upheld towards remaining balance with them, leaving still large amount to repay.
I opened the case with FOS, but obviously it takes months to get a response from them.
Do I have to make repayments while the case is opened with FOS? I got ref from them etc and forwarded to Satsuma that I opened the case.
I am on furlough now so my salary is much lower and really don’t have money to make these payments.
Just got letter from Satsuma that I have to repay whats in arrears and make payments monthly or they may open a court case.
Sara (Debt Camel) says
How large is the balance? How much did you borrow for this loan? did you have other loans before this one from Satsuma?
Luke says
The outstanding balance is ~ £2200.
I had 7 loans in total, starting from Jun 2017 and the last one Sept 2019:
£1,500.00
£300.00
£300.00
£700.00
£800.00
£600.00
£500.00
Total repayment amount for the last one was ~ 3k. I payed ~ £300, then couldn’t afford and so on. I raised a complaint, they upheld the smaller ones for total of ~ £600 and subtracted that from the total balance.
Thank you for you your reply.
Sara (Debt Camel) says
so the 1500 was the last loan? Was it for a year or more than a year?
Luke says
Yes 1500 is the last one and for a year.
Sara (Debt Camel) says
OK, well you could say that you are not paying them until your FOS case had been resolved. Satsuma themselves are very unlikely to start a court case, but they could sell the debt to a debt collector who would. But a cout case can take a very long while to actually heppen even then.
Or you could say that you are on furlough, so you would like them to freeze interest and you will make a token payment of 31 a month until your wages go up again.
Ciara says
Hi Sara
on my credit report I have a default of an account with Payday Express – they never contacted me since they went into administration for a payment and I do have an unaffordability complaint in with them too.
they also appeared on my credit file only in this last year how does this happen and how can they put a default when they are in administration? really frustrating I would have preferred to have paid it if they got in contact with me?
the loan is from 2016.
Also when a company goes into administration and is on your credit file how does this work? when the redress finally comes through will they remove the adverse marks automatically from our files?
thanks
Sara (Debt Camel) says
it’s annoying the debt having appeared but the best way to get rid of it is if your complaint is upheld. ICL are currently letting people know over the next few months by email. The email may go into your spam folder, but keep a look out for it!
if they uphold your complaint and the last loan is one to be refunded then the adverse marks will be removed from your record. You can’t speed this up.
Best page for ICL administration news is: https://debtcamel.co.uk/money-shop-to-close-two-million-customers-will-be-informed/
Joe says
Hi
I have used your website to complain about 3 loans from a couple of years ago. Peachy settled, Wagedayadvance went under before I got a final response, although the receiver did pay 8p in the pound and the third complaint against SNC went all the way to the ombudsman, I received a final decision last week which I have accepted. The ombudsman have advised SNC will be in touch in the next 8 weeks and to go back to the Ombudsman if they have not contacted before the 8 weeks time limit.
I had a couple of questions I was hoping you could help with.
1) Should I contact SNC and instigate the payment process? Is this likely to speed things up? Maybe I’m being cynical, but I do not have a great deal of faith that they will contact me and arrange to make a payment, I envisage myself going back to the FO in 8 weeks time.
2) With regards to 8% interest, I am led to believe this is for every year since the loan, does this include the year the loan was taken out and the current tax year (even though we are only 3 months into it)? For example if I paid £500 of interest in the 2017/2018 tax year could I claim
£500 + 8% – 2017/2018 = £540
£540 + 8% – 2018/2019 = £583.20
£583.20 + 8% – 2019/2020 = £629.86
£629.86 + 8% – 2020/2021 = £680.24
Hope this makes sense. Thanks for the work you do via this website and your social media, I would never have known I could dispute these charges if I hadn’t have come across your Twitter account around a 18 months ago.
Gill says
Hi
I’ve had a text and email from Swift Sterling inviting me to make a claim, sounds as if they are in administration, which I hadn’t realised. I had looked into this before but because my loans with them were older and under a previous management of the company, I was time barred from making a complaint and so I didn’t bother. Is it worth making a claim now?
Thanks
Sara (Debt Camel) says
SS are in administration see https://www.swiftsterling.co.uk/
If they are contacting you about loans that were pre December 2015, I have no idea why they are doing this. I suggest you reply to them asking if claims for these older loans will be accepted. I would be interested to know the answer!
Hazel says
Has anyone had any luck with Lending Stream ? i have heard nothing at all.
Thanks
Hazel
James says
It’s been just over 6 weeks since I submitted a complaint to Lending Stream. Aside from their automated response with the complaint reference I haven’t heard anything and they advised it could take 16 weeks for their response. If I don’t have a response after 8 weeks I will be sending a complaint to the Financial Ombudsman. I had 24 loans over an 18 month period, though going by other comments, I’m expecting my complaint to be rejected as Lending Stream appear to be delaying complaints at every step through any way possible.
Good luck.
James G says
After waiting almost 19 weeks LS got back to me this week rejecting my complaint. It really does feel like they are doing everything they can to delay. I emailed them a number of times during the period and got absolutely no response. Good luck!
Ernestkola says
Hi sara
Just quick question .. is that ok to call the lender for update if you refer you case to FOS already. My case is still with fos
Sara (Debt Camel) says
it’s normally a waste of time.
Matt S says
Well that was a surprise!! Complained to Cash4UNow, had only had 2 loans with them a few years back. I actually told them i was only looking to get the default removed from my credit report (it was the only defualt i now had), they have responded today on the last day of the 8 weeks upholding my complaint. Loans will be removed from credit report AND a full refund of interest + statutory. Would have genuinely been happy with the default being removed only so extremely chuffed at the moment.
C says
Hi,
If you don’t mind me asking did they uphold straight away and how much were the loans for ?
I had 4 loans and they haven’t upheld just offered £75 as good will gesture!!
Thanks!!
Matt S says
Hi C,
They upheld straight away. I complained and they acknowledged complaint stating they had 8 weeks to respond. Yesterday the 8 weeks was up so i emailed in the morning asking if i would get their decision, and got it later in the day upholding. The 2 loans were for £150 and £300. I was in a financial mess at the time (gambling, overdraft, debt managerment, multiple loans) so not sure if that helped my case.
On a further note, received the email from them at 2.30 yesterday afternoon, went back saying i was happy with their findings, they asked for my bank details and by 5PM the money was in my account.
C says
Oh wow ! Ok Thankyou for your reply!
My loans were 300-500 and I had 5! And they have not upheld so I will definitely go back to them to see if I can get something out of them without going to FOS!
Thanks for your help and I’m happy you got something back this site is amazing I have had so many refunds!! :)
Chris says
Ombudsman ruled in my favour – it’s been 27 days since the Ombudsman had my confirmation of agreement of the decision and now Lending Stream haven’t even acknowledged it yet.
I’m getting frustrated haha! There’s a CCJ involved and I’ve already paid money to a third party debt collector so it’s all a bit confusing.
George says
Hi Sara
I received an email from Fernovo asking me to call them about the affordability complaint I have with them.
They didn’t upheld my complaint.
Do fernovo discuss in this manner!
I had been waiting to hear from them on email not to call them instead!!
Not sure what to make of it really!
Any suggestions or thoughts would be appreciated
Thanks
George
Sara (Debt Camel) says
How many loans did you have from them? How large?
George says
8 loans smallest 150 Largest 300 in time frame of 14months
Still outstanding of 170 of original 300
They offered to wipe just 30 from the remaining balance which I refused.
I have asked for 315 redress to cover all the interest that occurred and the flat 8%
Sara (Debt Camel) says
Fernovo will sometimes negotiate. So what would you be prepared to accept? You need to think about that before you phone.
Those are smallish loans – you are VERY unlikely to have them all upheld at the ombudsman. The 8% will be almost nothing on such small numbers over a short space of time.
I suggest you work out what a refund on loans 5-8 would be.
ernestkola says
l took about 9 different loans from mr lender between 2012 till 2018 .
In 2018 l contact them on the phone making complaint about PPI interest (PPI Complaints)
The reply to my reject my complaint. And told me to go to FOS within 6month but l did not complaint to fos. I just left it without do anything about it.
On the letter they wrote to me about the complaint. The your complaint outlined. YOU BELIEVE YOU HAVE BEEN OVER CHARGED ON INTEREST DURING YOUR LOANS.
On the letter did affordability checks but l did not complaint about affordability checks that time. Only PPI interest complaint.
But last months I wrote to them about affordability and irresponsible lending complaint. But they reject straightaway. By saying that l make affordability in 2018 and the reject that time and l did not go FOS within 6month . And the reject the new complaint about affordability and irresponsible lending.
And l wrote to them again to explain that in 2018 that in 2018 is PPI interest complaint but now is affordability and irresponsible lending complaint. They reject again .
And them l contact FOS to summit my complaint now .
Fos wrote to them now ..am just waiting for reply. DO YOU THINK I HAVE A CHANCE ABOUT MY NEW COMPLAINTS PLS?
Sara (Debt Camel) says
What were the gaps between these loans? The time from repaying loan 1 to taking loan 2? from repaying loan 2 to taking loan 3? Etc
ernestkola says
Loans 1. 24days
Loans 2.12day
Loans 3. Pay back the same day
Date of the loans and details of the loans
Date. 04/01/2016 Amount.£300.00
DATE .01/03/2016 AMOUNT. £400.00
DATE .20/05/2016 AMOUNT.£750.00
DATE.04/01/2017 AMOUNT.£1000.00
DATE.23/03/2017 AMOUNT.£1500.00
DATE.26.04.2018 AMOUNT.£200.00
DATE.13/04/2018 AMOUNT.£200.00
Sara (Debt Camel) says
well these loans are spread out over a very long period. But you can reasonably argue the LS should have looked closely at the £1000 and £1500 loans in 2017.
ernestkola says
Ok but Mr Lender is not accepting my complaint they reject straightaway. But I have it with FOS at the moment.. and FOS already contact them .. am just waiting for there reply from FOS. Pls what is the argument about the £1000 and £1500 in 2017. Because they are too high or what pls?
DO YOU THINK I HAVE A GOOD CASE PLS?
I contact Mr Lender yesterday they told me they received the complaint from FOS and they are looking in to it.
Sara (Debt Camel) says
With 1000 and 1500 loans the lender should have looked closely at your situation. Or if you had borrowed repeatedly without any gaps of more than a month, but that wasn’t the case with you.
I can’t say how good your case is because that depends on the details of your finances at that time – what the lender would have found if they had looked.
So it’s worth sending to FOS (which you have already done).
H says
FYI,
The claim portal is now live on Swiftstirlings Website.
Cheers
H
Sara (Debt Camel) says
thank you!
simon says
Is there another way of registering a claim about Swift Sterling other than via the portal ? Reason being that my loans are pretty historic and I never registered as a user on their website.
Sara (Debt Camel) says
pre December 2015?
Have you been contacted by the administrators about this?
simon says
Yes, pre dec 15. No, I contacted Northway and was basically told that there was nothing I could do.
Sara (Debt Camel) says
the Claims Portal is not for loans from Northway, only the later loans after dec 2015 from the UK lender.
Oliver says
Hi Sara,
Loans2Go have rejected my complaint. I only had one loan with them for £300 but was expected to pay back £1234. Which was the loan plus interest. They have rejected the complaint and issued a final response saying my loan was affordable. I had multiple payday loans to other comapnies at the time. My loans2go loan is still outstanding with only £108 payed. Should I refer to the FOS?
Many Thanks
Sara (Debt Camel) says
I think you should – see this article on these dreadful loans: https://debtcamel.co.uk/worst-loan-in-britain/
Oliver says
Should I make an affordability complaint or say the interest is too high? I have read the article you have linked previously re someone making a complaint of the interest being too high
Sara (Debt Camel) says
I suggest both! In the same email “I want to complain about two things. First …. Second….”
Sam says
I had this same problem with loans to go last week I went back to them and said I was willing to compromise instead of going to fos this week they have come back and said they will lower the amount to £200 instead of £1600 I owe them as a good will gesture as they said mine was affordable so it might be worth going back to them see if they will compromise with u
Oliver says
I already sent everything off to the FOS. Think its worth me going to L2G anyway and seeing if they want to offer something before the FOS make a decision? Or is it worth just waiting for the FOS will the outcome be any better?
Sara (Debt Camel) says
well you may as well ask them – all they can do is say No and you are in no worse a position. Say you are happy to withdraw your FOS complaint is an acceptable solution can be reached.
Frogman says
Please does anyone here have a recent experience with Lending Stream? They’ve just got back to me at the 8 week mark and rejected my complaint. I have referred it to FOS. Do Lending Stream negotiate at all? It’s clear from their response it was a blanket No without them actually investigating. I took out 5 loans with them in the space of 4 months in 2018. Three of them – £1500. I am pretty confident about this one but FOS is going to take forever. Thanks
Sara (Debt Camel) says
That sounds a good complaint to send to FOS. LS don’t negotiate.
ernestkola says
I just received letter on the post today from Mr Lender that they will not be upholding my complaint.. that l have right to go FOS.
Pls any advice on what to do next and how to do it pls?
Is that a problem with gambling on your bank statements .if you send it fos ? I have gambling on my bank statement
Sara (Debt Camel) says
Send it to FOS, see the article above for how.
Gambling on your statements isnt a problem. If the lender had looked and seen it, they would have rejected you for the loan …. perhaps they should have looked…
ernestkola says
The lender (mr lender) did not ask me for my bank statements at all ..only FOS that is asking me to send my bank statements to them … maybe they will forward it to mr lender or complaint to me. and they want me to send my credit report aswell
Sara (Debt Camel) says
FOS wont send your bank statements to Mr Lender. And FOS normally ask for credit reports. Send FOS a copy of your TransUnion statutory credit recort: https://www.transunionstatreport.co.uk/CreditReport/AboutYou
Mal says
Sara, you commented yesterday that guarantor loans are filthy, would you consider all guarantor products as having no place in the financial market ? I see products like this and people are using them to gain credit to buy their home.
https://www.money.co.uk/mortgages/what-is-a-guarantor-mortgage.htm
Sara (Debt Camel) says
Guarantor mortgages are different: the guarantor has to take legal advice before they enter into one and the borrower’s finances are looked at in detail, including bank statements.
Mal says
Sara, I am also interested to hear your thoughts on lasting impact of complaints. Don’t get me wrong I have been against PDL companies for a long time but there needs to be a point where products are available to people that have bad credit histories and need credit. Let’s take one PDL for example, PiggyBank. They were in the process of adopting change to their lending processes and criteria, they adopted a new process of using Open Banking technology to make that decision process better and being able to view first hand a borrowers financial state, as technology improves so does the decision making to rule out irresponsible Lending. However PiggyBank couldn’t survive the number of complaints being valid or not because of the process of non-valid claims being taken to FOS and being charged £650.00 each time.
If this continues there will be no financial companies left willing to offer a subprime product because the current issues around non-valid complaints.
Interested to hear your thought about the other side of the coin ?
Sara (Debt Camel) says
PiggyBank lost 57% of its FOS cases. If they had upheld the valid ones in line with the FOS decisions, their FOS fees would have been massively lower and their FOS uphold rate would have been a lot less.
I expect most bad credit lenders will start using Open Banking in the next year or two, largely because of COVID-19.
I think to a very large extent bad credit lending is self-perpetuating. Someone repays one loan and is left so short they have to take another. Someone gets worried about their PDL debt so tries to consolidate it with a longer term bad credit loan it but can only get a high APR. That loan proves unaffordable over the months so they take a few more PDLs to help get them through.
The number of payday loans halved from 2013 to 2015. Research found that people declined for loans either managed without a loan, borrowed from family (a MUCH better option than a guarantor loan!) or they went into some form of debt solution (payment arrangements, DMPs, DROs, bankruptcy).
Neil says
Hi. I made a claim with Lending Stream last year which was rejected by them despite me having over 20 loans with them previously. I didn’t pursue this with the ombudsman as work kinda took over my life. Would there be any point in making another, fresh complaint? Or is their final letter the legal end of the matter? Thanks in advance
Sara (Debt Camel) says
There is no point in complaining again, sorry.
Leonie says
I have made a complaint to money boat and this is part of their response the rest is generic but look at the scare tactics, because I said these loans at the time was affordable could this be considered fraud?
I am writing in response to the complaint you raised. Please accept this email as an acknowledgement of your complaint.
“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.”
Ernestkola says
Not at all … l make this complaint aswell to them and they said the same thing to me… but they never do anything.. dont worried about it!
M says
Hi wonder can you help
I put an affordability compliant to loans 2 go. I had taken a loan and 2 tops up they have rejected the compliant but have offered to half my balance to 1500. Can I go back to them with a counter offer or just take the reduced balance?
Sara (Debt Camel) says
you can go back with a counter-offer. Several people have got them to improve on their first offer.
Rachael says
Hi
I’ve had an email this morning from the adjudicator upholding my complaint against Lending Stream.
They’ve given them until next Friday to respond.
How likely is it that I’ll get a payout?
Mike_p says
They seem to accept adjudicator decisions most of the time but they’ll do everything they possibly can to delay and frustrate the process. It took them over a month to reply to my adjudicators decision, despite her giving them two weeks, and when she asked them for an update they just ignored her.
Tracey Kyffin says
I dealt with Ombudsman regarding unsolicited credit limit increases on my Debenhams card, I explained and gave evidence regarding my mental health. The evidence I supplied was from my doctor and therapist, I also supplied every bit of evidence needed to prove the credit limit increases were applied without doing any affordability checks. They basically told me ‘I ought to have been aware’ of problems regarding high interest etc. not at all taking into account the mental health issues I was suffering at the time. I took my complaint further to Caroline Wayman, stating my dislike to how they deal with mental health issues. As I stated, to have ‘sympathy’ is one thing, whereas what is truly needed is ‘understanding. My question is can I contact Santander and ask them to consider looking at my complaint again, explaining how unfair FOS treat mental health.
Sara (Debt Camel) says
No. It sounds as though the Ombudsman agreed with Santander’s rejection of your your complaint so they aren’t likely to change their mind! And they may well simply say that you have already raised this complaint once and it has been dealt with – you can’t complain again about the same thing.
Eilldh says
Hi Sara,
I had a final decision made my the Ombudsman last month against Sunny. I agreed to this and final decison was bound. Sunny provided me with a breakdown of the refund payment totalling £1157 on 26th June and asked for my bank details, these were provided the same day. I understand they have now gone into administration and gaining no responses through email. As this was a final decison, and was stating as being bound by both parties do you think it possible I may still receive this refund? Or will all payments now be stopped. Its so frustrating to have come this far as I started the complaint process over a year ago and thought this had finally come to a conclusion.
Sara (Debt Camel) says
All payments will have been stopped. You are now an unsecured creditor of Sunny and will get some percentage of that agreed figure – probably a small percentage – in a year or so.
Hazel says
Hey looking for some advice
Lending steam have came back today to say they will partially uphold my complaint only for one loan.
they are basically saying they will refund the interest but amount due stays the same, also does not effect any balances with debt collectors but the outstanding balance is with a debt collector.
this may not make scene sorry.
Thanks
Sara (Debt Camel) says
how many loans did you have from them? The loan they are saying they will refund, is that the loan with a debt collector?
Hazel says
I only had 4 loans with them, yes loan 4 is with a debt collection Lantern with a balance of £557 but they are saying i only need to pay £300 of this due to taking off the interest, but who do i pay it too? will they update lantern ?
Last loan i took out £300 but with interest was to pay back £574.20. I have only started paying Lantern so only paid £17 so far to that loan.
I am just not sure if i have to pay lending steam £300 and continue to pay back the debt collection agency.
Thanks for your help
Sara (Debt Camel) says
Either LS will buy back your debt from Lantern and reduce it to 300 OR they will tell Lantern to change the balance to that.
You need to ask LS which will happen.
j S says
This is a bit of a strange one.
I had instalment loans and payday loans with Herbert Brown t/a Speedloan Finance.
I raised a complaint with Herbert Brown well more than 8 weeks ago and haven’t heard anything back.
After doing a bit of digging, I have discovered that they have ceased trading but not entered administration.
It looks like H&T Finance have taken on their pawn pledges, but can’t see anything about the loans.
Can I make an affordability to H&T for the loans I had or should I accept that its too late to make a complaint?
Here is what I found on the FCA website.
https://www.fca.org.uk/news/statements/speedloan-finance-limited-ceased-trading
Sara (Debt Camel) says
Send your complaint to the Ombudsman and let them sort this out.
Dan says
Some good news today. A year long battle with cashfloat has come to an end. They rejected initial complaint so sent to FOS who upheld loans 4 and 5. Cashfloat rejected this and it was put in the queue for an ombudsman. 2 weeks ago a second adjudicator made a new decision- that all loans 1 to 5 should be upheld!! Amazing and didnt expect it. Cashfloat didn’t respond and a final ombudsman decision has now been made agreeing with the second adjudicator.
Sara (Debt Camel) says
I love it when this happens. Serves Cashflow right for nor accepting the refund 4 & 5 offer!
ernestkola says
Is that ok to just send your credit report to FOS without your bank statements?
If your bank statements is alot ..do you have to send it buy post? Or by email.. is too much to send my emails
They said there post is not working at the moment because of covid ..not take letter by post at the moment
Sara (Debt Camel) says
The best thing is if you can download your bank statements into pdfs and then send those to FOS by email.
James says
Update after 7 weeks, Lending Stream has rejected my complaint of unaffordable lending for 24 loans over a period of 18 months. They say they checked a credit reference agency, but with such a low score, I shouldn’t have been loaned money in the first place.
£5,090 borrowed and £8,846.91 repaid.
Off to the FOS I go. No doubt LS will go into administration within the next year before the FOS makes a decision.
Trichards says
Hello Sara hope your well.
I sent an affordability complaint to lending stream regards 4 loans currently in arrears that i can’t afford payments on.
Today I’ve received a subject access request from them showing all previous loans and outstanding loans with lending stream. The thing is I knew all this information hence my intial letter (step 1 off your site). There was no mention of any refunds or removal of these debts and just states my accounts that are in arrears. Just wondering what would be the best step to take going forwards or await further coms from lending stream.
Thanks in advance absolutely brilliant site and advice on here really gave me some hope.
Sara (Debt Camel) says
You just need to wait now until the 8 week point. At that point you can send your case to the ombudsman. I wouldn’t be inclined to allow LS any extra time as they are not making good offers very often :(
PS I’m fine!
Paul says
Re Peachy I know they have gone bust but just had a weird response – anyone views…
We apologise that we were not able to locate the second account you had with us before we issued the final response, but seeing as the time between the loans was nearly 5 years then it will still not alter our decision of the outcome of your complaint.
There were 3 loans they won’t even acknowledge
Mike says
Hi Sara
I’ve just had an adjudicator uphold my case with Avant Credit, AV have agreed they lent irresponsible etc and I’m due an email from them to confirm a refund etc. Today I contacted them for a bit of information which they were a little shy on, but I’ve noticed on their website they are now not accepting loans? Do you know if they are in any difficulty as I feel like they may pull out just like P2P did last year?
Any information you could advise would be most grateful. Thanks Mike
ernestkola says
Goodmorning sara … pls what is the best template for one loan pls
I only took £500 loan on 2018.
Sara (Debt Camel) says
That may be pretty hard to win… but the best template is over here: https://debtcamel.co.uk/refunds-large-high-cost-loans/
Andrew says
Hi
I made an affordability complaint to Mr Lender on Apr 22 but have not even had an acknowledgement from them. I chased with another email on May 1st for an acknowledgement and again on Jun 19 but have not had any response from Mr Lender. Should I just complaint directly to the Financial Services Omnbudsman if Mr Lender won’t respond?
Thanks
Andrew
Sara (Debt Camel) says
have you phoned them up?
dave says
use complaints@mrlender.co.uk
LA says
Sorry me again.
When they say 8% of the interest until the date complaint is settled. Is that 8% per year?
Sara (Debt Camel) says
Yes
ernestkola says
I have the same problem with them ..take them fos ..dont wait
Joanne Wood says
Does anyone know how long it should take with the FOS and anything that can be done to help things a long. I currently have 3 complaints in with them but none seem to be going anywhere! Satsuma was referred on 21.01.20, I received a request for information on 18.02.20 and then received an email on 06.04.20 to advise I had an adjudicator but have had nothing since other than they are still waiting for a response from Satsuma. Likely Loans was also referred to FOS on 21.01.20 but had nothing but the acknowledgement email on 31.01.20 saying they can’t help straight away. I chased on 28.04.20 and had a generic response on 04.05.20. Still don’t have a case handler or adjudicator assigned.
Provident Doorstep loans was referred on 06.02.20, had acknowledgement on 14.02.20 saying can’t help straight away. I chased on 28.04.20 and a case handler replied on 15.05.20 asking for information which I sent back the same day but have heard nothing since.
I’m sure there are so many of you in the same boat as I am, just wondered if anyone had any guidance of how to get things moving.
Thanks
Kay says
I was waiting nearly a year for the likely loans one to start moving – it’s just starting to get some where now, likely did reply after the 8 weeks and I sent it straight onto the FOS.
Satsuma are a nightmare I never got a response email after email (Months this went on for)so in the end I sent them on last one to say if they did respond I will send it straight to FOS and as soon as the adjudicator picked it up I got an email from provident saying that I would have a response with 8 weeks which was more like 10 weeks and I just forwarded it on to the adjudicator and now the adjudicator is waiting on them responding which will be months and months I would have thought. Just got to wait it out it’s always worked for me. I’ve done quite a few of these now and if it’s all comes off I’ll have back over 10k with them all. 👍🏼👌🏼😉
Tony says
My wife had a likely loans decision in her favour last week.. Think fos are now picking these up. mine is with adjudicator awaiting decision. both put in in november last year. I have also just had drafty complaint upheld at FOS and they have agreed with decision. stick with it all will come good.