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?
ernestkola says
Have paid off my loan.. l dont owed them anymoney before the complaint
Sara (Debt Camel) says
Then you could go back to them and ask why they didn’t add 8%.
Emma says
Has anyone made a successful complaint to Mr Lender? They’ve lent to me numerous times with huge monthly payments… They can’t be doing proper checks I don’t think.
Thank you
Mike_p says
I had one loan with them and complained on the off chance not expecting much but they offered to write off the remaining interest It was something like a £150 loan I had already repaid £230 on and they offered to write off the remaining £40 or so. They said they had lent responsibly but made the offer because they didn’t like having unsatisfied customers or something.
Bizarrely they said they could only give me a final response by posting a letter to me, although they asked me by email where they should post the final response to and the final response letter asked me to respond to it by email. I did query it but all they said was that our was company policy. .
Debt free wannabe says
Hi, I have send in irresponsible lending meters to MBNA Barclays and capital one and Lloyd’s.
Has anyone had refunds from them?
I was earning £18500
Long story short – I managed to rake up £28k of debt – yes I was stupid and kept using each card to pay the min payment and got depressed and so on
As could never afford the payments
I am wondering if anyone has had any luck in refunds with
MBNA
Barclaycard
Lloyd’s
Capital one
Kayleigh says
Hi there, I was given a £6,000 loan from Halifax, I want to put in an affordability complaint, do I need to send in anything different to the template letter? And do they accept complaints for personal loans?
Sara (Debt Camel) says
This isn’t the best template letter.
Can you say something about this loan? what interest rate was it? Do you still owe a lot of it? Do you have other debts as well?
Mark says
Hi, wondering if all can help please.
I have received a claim form from Quidmarkets lawyers, however on my own mistake I attempted to make a reasonable repayment offer which they didn’t accept however I didn’t contact them to follow up.
I was on furlough as well which is why my repayment offer was too low. I am now back in employment and off furlough but I’ve already received the claim form.
I do want to raise an affordability complaint against them, can I still do this even though I have already received the claim form?
Regards
Sara (Debt Camel) says
Is this a Claim Form from the court, see https://debtcamel.co.uk/court-claim-form/ ?
Or a Letter Before Claim from the lawyers, see https://debtcamel.co.uk/letter-before-claim-ccj/ ?
Mark says
Hi Sara,
This is the Claim Form from the court…
they did send the letter before claim first some time ago and that is where I proposed multiple plans and got rejections and now they have proceeded with the court claim form. What am I able to do?
Am I able to still raise the complaint?
Regards
Sara (Debt Camel) says
ok, it is shame you didn’t put the affordability complaint in at that point. Can I ask how many loans you had from them and how large? You can make an affordability complaint now but you also need to defend the court claim.
mark says
Hi, there were two loans both a year apart, however I did borrow with multiple other lenders inbetween them.
Both loans were £600 each. If I defend the court claim, would that not give me a CCJ? As I work in the finances sector, I can’t have a CCJ otherwise I risk losing my job.
Please advise thanks.
Sara (Debt Camel) says
That is a rather marginal claim – you may well not win that at the Ombudsman. It’s OK to put in a complaint and try, but you need to have a Plan B in case you lose.
If you don’t defend the court claim you will get a CCJ “by default” within a month or two. If you pay the CCJ with 28 days, it will be removed from your credit record. Do you have the money to do that? If not, then one option is to defend the case and prolong it for as long as possible to let you save up the money so, in the worst case, you can pay off the CCJ.
I can’t give you advice on defending a court claim. You can talk to national Debtline on 0808 808 4000. And/or post on the Legal Beagles forum https://legalbeagles.info/forums/forum/legal-forums/court-claims-and-issues. It may be possible to try to get the court case “stayed” (that is legal jargon for put on hold) while a Financial Ombudsman case goes through. In any case if you defend th case and take it to a court hearing after mediation that will very often take a long while.
Mark says
Ok thank for the link, I will go through them.
PM says
My case against Satsuma has now been with FOS for 6 months, and assigned to an adjudicator for 5 months and I’m still yet to get a decision. My adjudicator has now stopped responding to my requests for updates (of which I send one every 2-3 weeks), and I’m at a loss as to what I should do next. Are people still making progress with cases against Satsuma? Are FOS progressing other peoples cases quicker? I fully appreciate the volume of complaints that they are having to deal with, but 5 months of “there is no update yet, the case is still being worked” is very tiresome.
Sara (Debt Camel) says
This you can complain to FOS about. Ring them up and say you want an update about exactly what is happening as your adjudicator is not responding to you.
Simon says
Sara,
I’ve heard back from safetynet credit ref a complaint. The first email offered me £1000 and close my account. However due to having been lending from them for over four years constantly irresponsibly and having paid over £4000 in interest I pushed for a slightly higher amount to settle (£1500).
The second email they’ve sent has now offered me £100.
I’ve asked why the amount has dropped so drastically but I’m wondering if you’ve heard anything about people taking them to the ombudsmen with success if it went that way or if I will have to suck it up and accept the £100 if it came to it.
Thanks in advance.
Sara (Debt Camel) says
LOTS of people have won these cases at the Ombudsman. £100 is a ridiculous offer.
Tom says
Hi Sara/All,
Please can you provide some advice on a response received from Mr Lender.
I had 3x loans with ML, 1x £300, all paid back on time, 1x £500, all paid back on time (taken out on same day previous loan was paid off) and 1x £700, defaulted and not paid back (taken out a week after the previous loan was paid back).
I am now paying the defaulted loan back via SLL Capital, the balance currently at £1202.50, of which I have paid £110.
I have complained to ML and their response was to not uphold my claim, however, as a gesture of goodwill, they will recall my account, remove the interest paid and that leaves my balance at £640. They will also remove any negative markers on my credit file when this is all paid off.
Do you think this is worth further pursuing via FOS or is this better to accept their final decision and accept the offer of goodwill?
It very much seems like they are accepting guilt, without accepting the guilt, any advice appreciated.
Thanks,
Tom
Sara (Debt Camel) says
so your loans were 300,300,300,500,700 in that order? Were there any gaps between the loans – the time from repaying one loan to taking out the next?
You have paid £110 to the last loan?
what are the rest of your finances like? do you have other debts you aren’t repaying or are paying at a reduced rate?
Tom says
Hi Sara,
No, I had 3x loans in total, £300 (loan 1), £500 (loan 2) and £700 (loan 3). There were 0 days between loans 1 and 2 and 7 days between loans 2 and 3.
I have paid £110 towards loan 3 via SLL Capital.
At the time, I applied for loan 3 in Oct 2015, I had no accounts in default, but my debts were mounting up quickly and in the following 3 months I had various accounts fall into arrears and default, amounting to a total of £9k or so. Things only got worse from there.
Currently, my finances have massively improved, earning approx £2100 p/m. However, I am currently using approx £1300-£1400 p/m of that to pay off lenders and debt collectors from debts accrued due to gambling problems approx 2-5 years ago. I buried my head in the sand initially, but have recently seen the light and working hard to improve my situation as I have now got over my gambling problem.
Thanks,
Tom
Sara (Debt Camel) says
Right, sorry i misread your perfectly clear first comment.
With just three loans, getting interst removed from the last loan is a reasonable offer. You probably wouldn’t get any more by going to the ombudsman. There is a small chance you would get a refund on the 500 loan, but FOS may well say only the third loan should be refunded.
But the balance on the 3rd loan should be 700 minus the £110 you have paid = £ 590, not 640. I sggest you go back to me lender and explain that and say you are happy with repaying a reduced balance of £590.
Good that things are going so much better for you now!
MG says
Hi Ferratum decided not to agree with my complaint but offered to clear the interest if i paid the remaining amount of the loan off and mark it on my credit report, question if i accepted this and didn’t realise that they wouldn’t wipe the default from my report can i still push it to the FOS?
Sara (Debt Camel) says
Not unless their response was unclear.
Brendan says
After a year with FOS got reply regards Moneyboat 4 loans out of 5 being refunded with interest. Has been over a month since reply. Have emailed and rang evergreen(moneyboat) regards the issue but still no answer. Any advice on what to do next? Thanks
Sara (Debt Camel) says
was this an adjudicator decision or from an Ombudsman?
Brendan says
They rejected the adjudicator then the ombudsman decision stuck with the original decision adjudicator made 4 months on.
Sara (Debt Camel) says
Have you told your adjudicator that you haven’t been paid yet?
Have you emailed accounts@evergreenfinance.co.uk?
Brendan says
Thanks Sara will email them here now. Your a star and helped me get back on track bigtime
Jane C says
I also have a complaint with an adjudicator for Satsuma since March. On 15th June they said they had now received all information to look into complaint. I chased on 15th July and she responded saying they had not completed their assessment. She then e-mailed on18th August saying she had asked Satsuma for more information. Then nothing since. It’s so frustrating, I don’t like to chase too much as I realise it must be a difficult time but at the same time I just want an answer.
Lou7 says
Hi all,
I had a loan with Ferratum and it was passed on to CRS which was then paid through stepchange. Now Ferratum have come back to me and said that I owed a balance of £1,274. I explained to them about the complaint and now they are saying I owe £324 and it’s with Opos. I asked why CRS balance was 0 but they didn’t answer that question and kept sending texts and emails saying I had to pay the balance immediately. Is there any way of proving otherwise?
Sara (Debt Camel) says
Say you dispute the amount and ask them to supply a statement of account for the loan.
Kelly says
Hi, hope you can help. I put in an affordability complaint and also made an SAR request. Today I’ve had a response from said company, they have sent a confirmation of the complaint, no breakdowns of the loans or any other information requested. They have asked for bank statements from may 2009 to may 2014 I no longer have these and cannot get them from the bank due to them only holding them for 5 years. The issue is until I know what loans from them I had and when should I have to send these yet?
The lender was mobile money, I had a few loans with them over the years to which I’m unsure of (I know this could be a problem) but after looking at my credit file I can see it says I opened a loan in May 2014.
Sara (Debt Camel) says
I suggest you reply that when they have sent you a list of your loans you will try to get bank statements for the relevant period. Expect MM to reject your complaint – they usually do. Send it to the ombudsman.
the Ombudsman likes to see bank statements but if you had several loans and they were continuous, you can still win cases without.
Kelly says
MM has replied with this
Dear Kelly,
Please find below details of the loans you held, including the dates they started and ended.
If you have any questions, please let us know.
Kind Regards,
Compliance Team
Loan Account No. Term Start date End Date
1 64708 5 01/05/2009 24/08/2009
2 103908 5 06/04/2010 06/10/2010
3 128831 5 07/12/2010 23/05/2011
4 S258597 12 16/12/2011 12/04/2012
5 S279461 6 12/04/2012 07/07/2012
6 S296095 6 07/07/2012 23/08/2012
7 S307214 6 23/08/2012 01/11/2012
8 S323435 6 02/11/2012 02/01/2013
9 S338542 12 02/01/2013 04/05/2013
10 S367207 6 04/05/2013 22/11/2013
11 S417882 6 05/12/2013 20/05/2014
12 S453157 6 20/05/2014 27/01/2016
As you can see here’s no details of payments or interest just a list of the loans and time they ran for.
I can only get my bank statements for the last loan number 12
Regards
Kelly
Sara (Debt Camel) says
Go back and ask for the the loan size and the amount of interest you paid on the loan.
Kerry says
Which bank are you with? When I requested statements older than 6 years, they said they could not produce them but due to all of the PPI claims etc, they started being able to send out a list of transactions (which is pretty much like a bank statement anyway) maybe you could try for one of these? It did take me calling and speaking to a few people before I got through to somebody who suggested this for me.
Kelly says
I’m with Natwest, that account is now closed, wonder if that would cause problems? Thank you for your advice
MM has come back with this
Dear Kelly,
Please find below a list of loans with their original Principal / Interest Split.
Please note this was what was agreed at the start of the loan and if any loans were settled early or “Contra Settled” then the actual interest paid will be different, often lower if settled early.
Kind Regards,
Complianc Team
£500 principle £300 interest Term 5 months 1/5/2009
£400 principle £240 interest 5 months 6/4/2010
£400 principle £240 interest 5 months 7/12/2010
£600 principle £864 interest 12 months
16/12/2011
£700 principle £505 interest 6 months 12/4/12
£664.99 principle £478 interest 6 months
7/7/12
£663.33 principle £477.60 interest 6 months
23/08/12
£691.81 principle £498.10 interest 6 months 2/11/12
£814.22 principle £1,172.48 interest 12 months 2/1/13
£815.51 principle £587.17 interest 6 months 4/5/13
£800 principle £576 interest 6 months 5/12/13
£797.68 principle £574.33 interest 6 months
20/5/14
Thank you in advance for your help.
Sara (Debt Camel) says
Go back and say you would like a list showing how much interest you actually paid.
Kelly says
MM has got back to me with the list of loans as follows:-
L1 1/5/09-24/8/09 (£500 cash advance) £80 fees £300 interest owing £880 for some reason I got an interest rebate of £100 so paid back £770 & account closed.
L2 6/4/10 – 6/10/10 (£400 cash advance) fees £65 £240 interest paid £705, repaid £705 (6 x 117.50) in total account closed
L3 7/12/10 – 23-5-11 (£400 cash advance) £65 fees £240 interest £24 charges paid £729 (£117.50 x 3 1 x £129.50 1 x £247) in total account closed
L4 16/12/11-12-4-12 loan for £1494 (£600 cash advance) £30 fees £864 interest, paid back £576 in total (£124.50 x 3) £544.50 contract settlement and £288 interest returned
L5 12/04/12-7/7/12 £1234loan (700 cash advance) £30 fee £504 interest, paid £617.01 (£205.67 x 3) £364.99 contract settled and £252 interest rebate
L6 7/7/12-23/8/12 £1117.78 loan (664.99 cash advance) £30 fee interest £478.79, £391.26 (£195.63 x 2) paid in repayments contract settlement £463.33 rebate of interest £319.19
L7 23/8/12-2/11/12 £1170.93 (663.33 cash advance) 30 fees 477.60 interest, £390.32(£195.16 x 2) repaid + £541.81 contract settlement + 238.80 interest rebate.
L8 2/11/12-2-1-13 £1219.91 loan (691.81 cash advance) £30 fees interest £498.10, £406.64 repaid (£203.32 x 2) £564.22 contra settlement+£249.05 rebate of interest
L9 2-1-13 -4/5/13 £2016.70 loan (814.22 cash advance) 30 fees £1172.48 interest, repaid £672.24 (£168.06 x 4) £660.51 contract settlement + £683.95 interest rebate.
L10 4/5/13 – 22/11/13 £1432.68 loan (815.51 advance) 30 fees interest £587.17 6 payments of £238.78 repaid in full
L11 5/12/13 -20/5/14 £1406 loan (800 advance cash) 30 fees £576 interest. £937.32 (£234.33 x 4) repaid contract settlement £372.68 rebate of interest £96.
l12 20/5/14 – 27/1/16 £1402.01 loan (797.68 advance) £30 fee interest £574.33 repaid £643.67(£233.67 x 1 £60 x 1 £50 x 6) Income write off year end £604.33+154.01
So sorry for the confusing figures and thank you for your continued help.
Sara (Debt Camel) says
So that is a lot of borrowing. From Loan 4 it was contunous – taking a new loan the day you settled the old one.
On that basis you may win an Ombudsman case for the later loans even if you cant produce bank statements – but if yiou can get bank statements it will be better. As Kerry said, the old bank may be able to provide lists of transaction even if they can’t reporduce the exact statement.
I suggest you go bank to MM and say you would like them to consider your complaint as it stands, as you think the fact the last 8 loans formed continuous borrowing means you will win your case at the Ombudsman.
Kelly says
Thank you Sara for you’re help, it’s much appreciated, I’ll do that.
M says
Hi wonder can you help
I have had a complaint with lending stream back on January and they paid out on March without the need to go to Fos, today I randomly received an email from them today with a tax certificate and confirming they will be transferring an amount of £72 to my account this is a different figure than what they had paid out to me in march and I thought it had been settled. It also says on the email they will remove the adverse marks from my credit file – does this mean there going pay me an extra amount of 72 again or what it is? Has left me confused
Sara (Debt Camel) says
It’s hard to guess/ they may have realised they got the 8% calculation wrong and are now correcting this?
K says
Hi I wonder if you could help, I have just received an email from Safetynet credit who have confirmed that they Irresponsibly lent and have offered the following? I just wondered if this is an acceptable offer? I have attached a copy of what the have said and also the transactions they sent me,
“By conducting in-depth affordability assessments using real time current account bank transaction data as well as reports from the two credit reference agencies, we believe we are well positioned to determine whether credit is affordable and should be provided.
However, upon review we can see that lending was not affordable.
Therefore, we are fully upholding your complaint.
Principle Outstanding: £130.00
Interest Outstanding: £41.55 Interest Repaid: £39.83 Statutory 8% Interest: £10.13 HMRC 20%: £2.03 New Outstanding Balance: £82.07
In line with HMRC guidelines, the HMRC figure has been deducted from the original statutory 8% interest figure and will be paid to HMRC on your behalf, so you do not have to declare this redress in your tax returns.”
Sara (Debt Camel) says
So you have only recently started borrowing from them? Did you borrow £130 in total? Do you remember what payments you have made to this?
K says
From what I can see on the statement, I borrowed £837.04 and repaid £746.87. I was charged £81.38 in interest.
the original statement of transactions.
31/08/2017 00:08:59 01:00 interest added 38.16 0 38.16 171.55
23/07/2017 11:27:01 01:00 (web) borrowed 77.04 77.04 0 133.39
23/07/2017 00:10:17 01:00 interest added 0.42 0 0.42 56.35
22/07/2017 06:21:32 01:00 (auto) repaid -81.35 -77.04 -4.31 55.93
22/07/2017 00:10:33 01:00 interest added 7.28 0 7.28 137.28
16/07/2017 11:30:42 01:00 (web) borrowed 130 130 0 130
15/07/2017 06:14:58 01:00 (auto) repaid -138.32 -130 -8.32 0
15/07/2017 00:09:57 01:00 interest added 8.32 0 8.32 138.32
08/07/2017 07:13:45 01:00 (web) borrowed 130 130 0 130
08/07/2017 06:17:26 01:00 (auto) repaid -105.6 -100 -5.6 0
08/07/2017 00:11:58 01:00 interest added 5.6 0 5.6 105.6
02/07/2017 13:27:40 01:00 (web) borrowed 100 100 0 100
01/07/2017 05:06:45 01:00 (auto) repaid -104.8 -100 -4.8 0
01/07/2017 00:09:32 01:00 interest added 4.8 0 4.8 104.8
26/06/2017 08:17:07 01:00 (web) borrowed 100 100 0 100
24/06/2017 05:28:36 01:00 (auto) repaid -106.4 -100 -6.4 0
24/06/2017 00:10:35 01:00 interest added 6.4 0 6.4 106.4
17/06/2017 06:29:56 01:00 (web) borrowed 100 100 0 100
17/06/2017 05:34:42 01:00 (auto) repaid -106.4 -100 -6.4 0
17/06/2017 00:11:23 01:00 interest added 6.4 0 6.4 106.4
10/06/2017 07:05:18 01:00 (web) borrowed 100 100 0 100
10/06/2017 05:29:28 01:00 (auto) repaid -104 -100 -4 0
10/06/2017 00:11:41 01:00 interest added 4 0 4 104
06/06/2017 13:47:11 01:00 (auto) borrowed 100 100 0 100
Sara (Debt Camel) says
What a headache.
I agree that you have had £81.38 in interest added. This isn’t the amount you have paid, as there is some interest included in the current balance.
But this should be taken off the current balance of £171.55 which includes interest still owing.
That leaves a balance of 90.17. Less the 8% calulation (which I can’t check but doesn’t look obviously wrong) of £8.10 when tax is taken off. Leaving a balance owed of £82.07
So I think I agree with their numbers.
K says
Thank you for looking into it for me, it certainly confused me too. I guess my next question is would I be best to accept that offer or send to FOS contesting the amount?
Sara (Debt Camel) says
what bit do you think is wrong? It looked correct to me.
ernestkola says
Hi sara .
I sent my complaint to FOS and the adjudicator has come back 2 weeks ago and not upheld loan 6 or 9. And then give mr lender to reply in 2 weeks ..which today is the last day but they reply today to by saying they are not agree with adjudicator decisions. But if l send it to Ombudsman ..how long do you think will take for final decisions pls? And what is the chance?
ernestkola says
They only offer £12
1. 04.01.2016 .£300
2. 01.03.2016 .£400
3. 20.05.2016.£750
4. 23.05.2016.£350
5. 29.06.2016.£200
6. 04.01.2017.£1000
7. 23.03.2017.£1500
8. 26.03.2018.£200
9. 13.04.2018.£200
Uphold 6 and 9
Sara (Debt Camel) says
You said – “the adjudicator has come back 2 weeks ago and not upheld loan 6 or 9”
Is that right? or has the adjuicator only upheld 6 & 9 and not any of the others?
James says
Hi,
Has anyone had issues with getting reply’s from lending stream? They no longer accept emails so i have used their contact us webpage twice now but no reply’s. My Jar and safetynet credit both came back to me pretty quickly and i paid off the balances remaining but lending stream have not even confirmed they are looking into it.
Mike_p says
I’d give them a call to check they had got it, and send it to the FOS the minute it gets to the 8 week point if you haven’t had a final response by then. They are horrendous and take as long as they can with everything and often ignore messages you send them, so don’t give them a minute longer than you have to.
barry says
Hi,
I’ve placed a claim with 247 moneybox which has been rejected. I had 5 loans with them over a period of a few years and struggled to pay them all back. The last one I took out for 600, I owe 1900 back which is still outstanding. They have rejected my claim and they are asking for the 1900. I feel due to my circumstances, the loans were unaffordable. There was a pattern of refinancing and if they checked my credit report at the time they would have seen I struggled to pay my bills.
I wanted to escalate to FOS but they say I can’t as the company is in administration.
Can I get some advice please
Sara (Debt Camel) says
So how many loans were outstanding?
your 5 loans, how large were they? what were the “gaps” between then – the time taken from repaying 1 lona to taking the next one?
what is the rest of your financial situation like at the moment?
Will says
Anyone got an email from 247 Moneybox today, but the link doesn’t work? I got the below, but the linkt hey sent simply logs you into your account as I always used to, and I can see my personal details but there is nothing about a portal?
“Online Claims Portal is now live
The Joint Administrators have completed the Online Claims Portal and invite you to login and view the outcome of the redress assessment. If you wish to appeal the Joint Administrators’ decision you can do so from within the portal.
If any payment is due to you, please be aware the payment you receive will be significantly smaller than your accepted claim amount. Payments will be made once all claims have been received and assessed. All claims must be accepted by 31 December 2020.”
Frogman says
Mine worked. I have a balance if £550 owing and a redress of £405. Not sure what I need to do. I have the money to pay off the balance so that I can get my credit file cleaned. I don’t know which loans have been upheld as I took out many from them
Alex says
Also got an email today. Link worked fine.
They have given me a redress of 2/3 of the outstanding balance.
Think I might accept as this is just £50 more than the difference between money borrowed and net outstanding, excl any interest.
ernestkola says
Good afternoon sara
Pls just a quick question pls. I summit my irresponsible lending to fos about 3month ago .. but the leader is not agree with adjudicator but now is going to Ombudsman.. how long l have to wait for Ombudsman pls? What is the waiting time pls
Sara (Debt Camel) says
It can vary a lot, sorry.
Timbouk says
Anyone know how long myjar take to payout redress? Email says can take up to three weeks but wondered if anyone had any experience of this?
Thanks
Tim
ernestkola says
Before 14days but remember to ask for 8% simple interest. 8% statutory
Peter says
Has anyone had any experience with Moneyboat? Getting CCJs removed?
I am in tens of thousands of debt from dozens of high cost lenders and have (stupidly) buried my head in the sand because all correspondence went to an old address.
When I finally plucked up the courage to check my credit report I was actually quite surprised to only have 1 CCJ which is turned out was from Moneyboat for a 3rd loan in 6 months. the first 2 had been paid up fully and the third was for £1,000 (13 days after I paid them £870).
I had paid £933 of the £1k I borrowed but the CCJ is for £1,400 which must have included interest up until the end of the contracted loan period.
I have sent an email of complaint of affordability which if fully upheld would see them owing me about £280….but what I am wondering is if they accept they shouldn’t have given me the loan, will the CCJ be removed from my credit file?
Thanks
Sara (Debt Camel) says
If they accept the third loan should not be given they should set aside the CCJ. If they don’t, send the case to the Ombudsman.
Peter says
Thanks. The 3rd one is the only one that blatantly should not have been given. The first 2 are up for debate I suppose. Thanks so much
frogman says
The first two might be as well :)
Joseph says
Hi Peter, sorry to hear about your situation. I read your comment and yes, I won a complaint agaisnt Money Boat. I only had 1 loan with them for £500 but like you but burried it away and then regretted it later. I argued clearly about this to my adjudicator who upheld my complaint, Money Boat refused and then ombudsman agreed with adjudicator. 1 loan complaints are hard to win but it all depends on your current situation and on a case-by-case basis – but shouldn’t put you off complaining. Good luck with your impending complaints process! From someone who’s had A LOT of payday loans, I’m in a much better place now after this website, and you will be too soon ! Joseph.
Peter says
Hi,
I had a £800 loan with H&T 3 years ago that cost me about £1400 in total to repay.
I have had the information through from my SAR and on the affordability (credit check) it had the below data. in the worst payment status what does 1 and U mean?
Thanks
SHARE – Financial Data
Number of Accounts:
43
Number of Active Accounts:
11
Number of Settled Accounts:
32
Number of Accounts Opened in Last 6 Months:
13
Number of Delinquent Accounts in Last 12 Months:
0
Worst Payment Status in Last 12 Months:
U
Worst Payment Status in Last 36 Months:
1
Sara (Debt Camel) says
I am not familiar with the SHARE financial data but on a credit report U typically means “unclassified” ie no information was provided ant 1 means 1 month in arrears.
That looks like a large number of accounts opened in a 6 month period!
Peter Keppie says
Thanks so much for your help.
Do you think on the basis of the missed payment and 13 credit accounts opened in 6 months that I have a case even though it is only one loan?
Sara (Debt Camel) says
You know one loan cases are not easy to win, but you can say that this was a large loan so they should have checked your credit record and seen how much other debt you had.
Si says
Hi Sara,
I took a loan with Everyday loans for £4000 whilst I was heavily addicted to gambling. When I took the loan, EDL asked for a copy of my last months bank statement but because this was not yet available I had to send the previous months. Both months show a large amount of cash withdrawals ( but not specifically gambling transactions ) although the statement that had not yet been generated for the month prior to me taking the loan showed over £2000 of gambling online as my GAMSTOP registration had expired … can this be taken into account when raising my complaint or will it be seen that because they checked one set of statements that they did proportionate checks? I would have thought that the large number of cash withdrawals should have raised a red flag but not sure how it works
Sara (Debt Camel) says
When you complain use the template on this other page https://debtcamel.co.uk/refunds-large-high-cost-loans/for large bad credit loans. This asks for a SAR as part of the complaint – this should show you how Everyday Loans calculated your income & expenditure – if that did not tally with the bank statement you showed the (how did they account for the very large cash withdrawals?) then that is a good argument they did not properly check the loan was unaffordable.
Dave L says
Well had some positive news from the ombudsman in that the adjudicator has agreed with me over the loans that I had with the Money Platform, for interest to be removed on three loans including the last one. This is the subject of inclusion in my debt management plan and I have now paid more than the capital borrowed.
The Money Platform however have disagreed with the adjudicator and want it escalated to the ombudsman. Am I right in thinking it might be an idea to stop payments now?, just in case they end up going under in the time it takes to deal with the matter and given the fact that the capital has already been repaid.
Sara (Debt Camel) says
Yes.
As this is already in a DMP, you don’t care about any effect on your credit record while it is being sorted.
The lender should NOT start court action if you stop paying. This doesn’t seem to be a problem in practice.
Dave L says
Thanks Sarah I’ll email the money platform to advise them, I did have some other positive news this week as well with a Bamboo Loan again adjudicator has found in my favour with affordability and PTSD / depression at time of taking it out, so all interest to be taken off / refunded. Thank you for your help and advice on this site
Tom says
Some positive news – having accepted a refund offer from Lending Stream on Friday, the money was paid into my account in the early hours of this morning, so they seem to have improved their speed of paying out, at least in my case. For clarity, this was a complaint direct to them which they upheld without involvement from the ombudsman.
Peter says
Hi Tom, may I asked how long after raising your initial complaint you got paid out? I have made a complaint myself on the basis of 4 loans in total (3 of which were within 6 months)
Tom says
Hi Peter, I submitted my complaint through their online contact form on 13th July, received the final offer reply with link to claim the money on the afternoon of the 4th September, and it was in my account this morning the 9th.
Peter says
Thanks Tom,
Great you got some money back.
Do you mind me asking how many loans you had? and what percentage of the total interest you got back?
I have had at least 4, waiting for the subject access request to confirm though
Karen H says
Hi Tom
That’s great news & promising for myself as I am waiting for redress payment from Lending Stream & Satsuma who have both recently agreed with the adjudicators. I’ve not heard from either yet, but just sitting tight & hopefully I’ll soon have payments.
I couldn’t have done this without help of Sara & this site. It’s been an amazing source of info, particularly the templates. Thank you
Ruth says
I am really struggling with my adjudicator.
I replied to him on 19th August after our conversation above, on 28th he replied stating that ‘there wasn’t any information on your credit file which prompted them to do a further check. However, 118 118 Money still carried out a further check – income and expenditure check. This was also because the term of the loan was 24 months and it was a larger amount.’
I replied saying that this was false and no further checks were carried out and to refer my case to the ombudsman. Today I have received another email from the adjudicator stating ‘118 118 Money have provided evidence of income and expenditure checks which were carried before approving loan one and two. This was using the information you declared on your application form.’
How is my application form further checks?
He also said the below
In the terms and conditions it says:
‘If You give Us false or inaccurate information and We identify or suspect fraud. We will record this with the fraud prevention agencies. Law enforcement agencies may access and use this information.’
You agreed to the declaration and confirmed everything on the form was true. So I can understand why 118 118 Money didn’t need to see ask for any further documentation. ”
He then said do I still want it to go to the ombudsman. Is it normal for the adjudicator to seem so biased to the lender? I am annoyed because I asked it to go to the ombudsman nearly two weeks ago.
Sara (Debt Camel) says
yes you still want this to go to the ombudsman. 118 Money should have carried out a proper check as the loan amounts were so large – they didn’t.
Jay P says
I have submitted my complain to Financial Ombudsman.
is the 6 month time limit still valid from the time submitted to Financial Ombudsman? because its gone past 6 months and i have not received anything back from them yet.
Sara (Debt Camel) says
Provided you submitted it within the 6 months, that is fine. BUT have you not heard anything back at all from them?
Jay P says
Hi, Yes i got the standard ‘we have received your complaint’ email but nothing else
Mike_p says
How long did it take the FOS to make a decision if you don’t mind me asking? I submitted a FOS complaint in early February about The Money Platform but haven’t had a decision from them yet. That’s far longer than for all the other complaints I’ve made
Dave L says
Hi Mike it was the 21st May when I escalated the complaint to the Financial Ombudsman, am hoping now they have credit file and bank systems they might decide to agree with the adjudicator rather than escalate to the ombudsman
Dave
James says
Hi Sara,
Lending Stream have said my 3rd loan was un-affordable but the first 2 were affordable, they are the only company who has said that my loans were affordable so i am going to take it to the Ombudsman as i believe all were un-affordable and they have said that they wont remove my file from the credit reference agency, if they did this i would have probably accepted having a £500 balance left.
Issue is i have never reported anything to the Ombudsman, is their a template for this? I am confused on what i need to add to this?
??
Thanks as always for your help, oh also can you point me in the direction of the link to claim back the tax paid on a refunds?
Sara (Debt Camel) says
how large were each of your three loans in order?
James says
Hi Sara,
The loans were £200, £900 them £700.
The 700 I still had a balance so they have reduced this to £573, I would have been happy to accept that but I want it removed from credit file. I was in just a bad situation for all 3 of the loans.
Sara (Debt Camel) says
how much have you paid to the last £700 loan?
What does the rest of your credit report look like – unless it is very good, there may be little point in going to FOS just to try to get a default removed.
This is the link about claiming tax back: https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
James says
Thanks Sara, to be fair i think the other loans were unaffordable too and myjar agreed which made my balance for from 1900 to £93 which i paid off, i was hoping for the same from Lending Stream and Satsuma but both has rejected my claim so i will be going to FOC about them. I have never went to FOC, quite confusing.
Adz says
How long is the 8 weeks? Is it 8 weeks working days or 8 weeks from when you sent in your complaint? Sent mine in over 2 months ago now and not even had an acknowledgement :/
Sara (Debt Camel) says
It is eight weeks from when you sent the complaint. Who is the lender?
Adz says
Lending Stream Sara.
To not even get a reply when it was ‘signed for’ is rude. Do I send my same complaint to the ombudsman?
Sara (Debt Camel) says
Have you phoned them up and asked why you haven’t had a response? You can send your complaint to FOS now, but it seems worth asking what is happening first.
Bee says
Hi Sara
Do you know or any friends know how long satsuma takes to send you a cheque. They accept the FOS decision last week. Not heard back from them, tried ringing Satsuma and sent emails but no reply. Is it a long wait to recevie the cheque?
Peter says
Hi Sara,
I am new here but am lodging loads of claims. I am sure you have answered this thousands of times, but could you please just explain the process for me if the lender rejects your claim or makes an unacceptable offer?
I know they have 8 weeks to issue their final response. but them I don’t know the next step.
Could you please explain it and the time limits etc?
O am just so worried about my creditors going bust I want to know the worst case scenario time wise.
Thanks again you are amazing
Sara (Debt Camel) says
Yiu Dan send them case to the Financial Ombudsman at 8 weeks, or sooner if a ksnder gives you a Final Decision rejecting your complaint with a poor offer.
“Loads of Claims” if these were payday loans and not large, you aren’t likely to win complaints if you only had 2 or 3 loans from a lender of if you had large “gaps” in borrowing from a lender.
Peter says
Thanks. Is the Ombudsman ‘the adjudicator’? I keep seeing people refer to the adjudicator but I’m unsure if this is the same as the Ombudsman.
When I say ‘loads of claims’ I mean really loads of lenders – but with most lenders I have had at least 3 loans, nearly always simultaneously with other high interest loans.
I have heard people say they have won cases for loans if they were large, just wondering what you class as large?
My loans have typically been a minimum of £250 right up to £2,000.
I just want to say thank you as well to you personally Sara for helping me through this site. I contacted 30 lenders on Sunday and on Tuesday SafetyNet Credit waived a debt of £1,320 AND paid me £560 in redress and the money was in my account last night!
Sara (Debt Camel) says
The Financial Ombudsman (FOS) has a 2 stage process. 90% of complaints are settled at the fir stage by a FOS employee called either “an adjudicator” or an “investigator”. If you or the lender object to the adjudicator decision, it will be looked at by a senior employee called “an Ombudsman”.
There is no simple guideline as to what is large. I would assume that any loan over £1000 is large, smaller ones may be if you are on a very low income.
So you know what interest you paid to SNC? Always check this before deciding whether to accept an offer.
Peter says
That has cleared up my query, thanks very much.
And am I correct in thinking that FOS have 6 months max to give a decision?
Yes I worked it all out on a spreadsheet. Their offer actually far exceeded what I was anticipating the full amount because I didn’t know about stat interest then (I have now educated myself).
Sara (Debt Camel) says
And am I correct in thinking that FOS have 6 months max to give a decision?
No, you have to take a complaint to FOS within 6 months of getting the response from the lender. there is no max time limit on FOS – it will take as long as it needs and if it has to go to the second ombudsman level cases are often over 6 months.
Rhys says
Hi Sara,
I have had loans with multiple payday loan providers for many years and am in the process of complaining to them all. I received refunds from Wageday Advance and Wonga via the administrators, and I complained to Sunny who I had over 40 loans with but now they are in administration. I am now waiting for responses from Lending Stream (27 loans), Satsuma (8 loans) and Mr Lender (2 loans).
I have been offered a refund from MYJAR for 19 of the 29 loans with them, but have responded to ask that a further 5 of the loans be included in the offer (thanks to your advice). Their initial response and offer was within the 8 weeks but my question is do they have to respond to this request to include more loans within the initial 8 weeks too? I received a response to say they would reinvestigate after I provided my reasons but have not heard anything since and I’m not sure if I should chase them at the 8 week point next week?
Thank you!
Sara (Debt Camel) says
I suggest you enquire next week what is happening.
LC says
Hi Sara
Just wanted to say thank you for this forum. Today I received my offer from Provident for my Greenwood loans and it is pretty much to the penny what I worked it out to be. The cheque should be arriving in the next 14 days. And The person who has dealt with my complaint after it came back from the FOS adjudicator is also dealing with my provident loans and is now waiting for confirmation that my debt was cleared with the debt collectors before he calculates my redress from my provident loans which he’s hoping to sort next week. He’s apologised that it wasn’t originally dealt with last yet when I first complained.
Pee says
Sometimes an apology just doesn’t cut it. Especially when you know they’re most likely lying through their teeth. Play your cards right and you could get a lot more. That’s my best advise. Take it or leave it. Upto you.
A says
Hi Sarah,
Just to say THANK YOU! I received today a £850 refund from Lending Stream following FOS upholding my affordability complaint. FYI Lending Stream had said no right off the bat but sent over to FOS with the help of this website. First complained to LS in April 2020 and paid Sept 2020.
Thanks again,
A
David says
Hi A how long from the FOS upholding your complaint till you receiving your money thanks David
Pee says
David. Mine was 3 months. And I had to chase and chase.
David says
Thanks pee chatting to them today am on 19 days out off 28 days it will be in my account before or on the 24th🤞
Pee says
David. They say that to everyone. If I was you I would believe it when the redress is in your account. Talks cheap. Actions speak louder than words.
Tina says
Hello, I’m just wondering whether anyone could give any advice? In 2012 and 2013 I had loans with quickquid and poundstopocket. I defaulted on both and they were both passed on to debt collectors. These have since changed hands a few times and I don’t know exactly what I have paid to who over the years. I now have logged a claim with casheuronet but I am not sure what to do about the solicitors chasing me. For one of them I think my initial loan was £800 but I still owe over £900, I can see from old emails that I have lots of confirmations where I made my monthly payments before it defaulted so I think I had paid quite a bit of it back anyway. I’m just lost with what to do at the minute as I can’t afford to pay it all back to the solicitors.
Sara (Debt Camel) says
Tell the solicitors in writing that you dispute the debt because you have put in an affordability complaint to Casheuronet. Look out for court papers and this https://debtcamel.co.uk/letter-before-claim-ccj/ which should be sent before they start a court case. Come back here if you get either.
do you have other problem debts as well?
Tina says
Hi Sara, thankyou so much for replying. I don’t think they have my current address I think they will still have an old one. But they have my email address and phone number as I have previously corresponded with them this way. Should I give them my new address?
I have a number of debts at the moment but this is the only historic one which is with a debt collector. None of my current debts are in default and all are regularly paid if that makes sense.
Sara (Debt Camel) says
Not having your current address will not prevent them from going to court but it may mean you do not get the court papers. I suggest it probably is better to give them your current address.
Tina says
Thankyou, I will update my address with them.
Sorry, just one more thing, will I be able to dispute the debt with them if I have previously made payments towards it?
Sara (Debt Camel) says
yes you can still dispute it. I’m not saying this is going to be easy, but the aim is just to get the debt collector a to hold off until you have a decision on your Claim from the administrators.
Peter says
Hi Sara,
I am now in the kind of waiting around for responses period, having made all my complaints to the companies so I am wondering if there is anything I can do to strenghten my cases in the meantime?
Eg, I when I have had replies with DSAR data I have been able to say, look how many loans and missed payments I had out when you granted me the loans.
I have read that just before the 8 weeks is up some complanies might ask to see bank statements, so want to avoid this and be in a position where they have to issue their final response (and hopefully offer) bang on 8 weeks.
Thanks
Sara (Debt Camel) says
Do you have your bank statements to hand? If not, organise those now.
Who are the lenders, how many loans and how large?
Peter says
Hi Sara, the loans total are:
Satsuma £5,570
H&T £800
Lending Stream £2,860
Avant Credit £2,000
My Jar £6,850
Moneyboat £1,800
Cash 4 U Now £1,270
Mr Lender (at least £2,000 but they wont actually tell me!)
All are multiple loans bar Avant Credit.
I have ordered my bank statements just in case but don’t have them yet. Because the companies have to reply to your DSAR within a month my plan is to see what they hold on my/what checks they did before I send them the bank statements.
Cash 4 U Now sent me my DSAR yeserday and there was no evidence of them undertaking any credit checks whatsoever at the time of them granting me the loan! surely that isn’t responsible lending!
Sara (Debt Camel) says
how large were your Cash 4 U loans, can you list them in order?
Peter says
July ’17 – £170
Sep ’17 £300
Jan ’18 – £800
I think there is about a balance on the Jan 18 one too
Thanks
Sara (Debt Camel) says
Then it can reasonably be argued that the lender should have checked the credit record for the third loan – but the Ombudsman will probably say not the first two.
Peter says
really! I thought credit checks were totally mandatory for any credit applications, regardless of the amount
Sara (Debt Camel) says
no, a lender only has to make “proportionate” checks. The Ombudsman usually says checks arent need for the first few loans if they are small. Thats why a common offer is a refund from the 4th or 5th loan.
Peter says
thanks Sara. Most of my lenders have given me 3 or 4 loans, but mostly they are £800 and upwards so still unaffordable, so hopefully it shouldn’t matter that there weren’t more
frogman says
Just a quick update for people that are dealing with Lending Stream.
I was refunded yesterday, after 21days FOS accepted on my behalf. I didn’t receive any formal communication from Lending Stream after adjudicator ruled in my favour but as someone suggested here, I just chased them up through their live chat, submitted my bank statement showing my bank account details for the redress. I had defualted on these loans and was owing about £1k which is now gone and I had £515 in my bank account yesterday. I first lodged my complaint in May, LS rejected in July and forwarded to FOS immediately.
David says
Glad to hear am on day 20 so hopefully not to long to wait🤞
Ryan says
I’m enquiring regarding Satsuma Loans. I sent my initial letter back in 20 June 2019. They came back in the September of 2019 with a response throwing out my case. I was working away at the time and once I had time I referred this to the FOS and they contacted me on the 31st of January, asking for my final response letter. They then contacted me again on the 14th of February, my Adjudicator then summarised my concerns. I’ve had numerous emails since then stating that they are awaiting additional information from satsuma. Then on the 14th of July I received another email from a different Adjudicator, saying they were now dealing with my case and they had all the information but were awaiting additional information from Satsuma regarding my loans. They also said they have chased this up and hope to have an out by the end of the month (July). I’ve then had same style emails since with this new adjudicator, how they are awaiting additional information etc. I have recently sent an email on the 11th of September after no contact for 4 weeks and no response. Have you heard of any cases been settled with satsuma recently? Seems like I’m getting nowhere.
Peter says
Hi Ryan, how many loans did you have with them? I am on a similar case with Satsuma – they are my biggest lender by a mile
Cazza says
My partner made a complaint with Satsuma and they came back quickly with a standard rejection which has gone to the FOS, I have complained and it seems to be taking forever, I’ve had another email today saying they require a further 28 days but O can’t understand why there is such a difference in the time they take.
Ryan says
Well since I first heard from the FOS it’s been 9 month. Yet they are still awaiting information from Satsuma. Think they are using Covid to their advantage, which is wrong and people shouldn’t have to wait this long for an outcome.
Ryan says
Hi Peter, I had 5 loans with them in total. I’ve had success with other pay day loans companies and received back thousands in refunds. I think I have read that they are one of the worst for irresponsible lending complaints, I just wanted to know if people are having success with them recently?
KarenH says
Hi Ryan
Satsuma have agreed with FOS to pay me redress payment just a week ago. Apparently it will be paid by cheque & within 28 days so fingers crossed.
Ryan says
Thanks for the reply.
How long did it take for the FOS to give you an outcome? I expect to wait some time but it’s just taking forever this time round. Had success with other companies through FOS.
KarenH says
Hi Ryan
I first lodged my complaint against Satsuma with FOS on 14 April & had final outcome/offer via FOS on 8 sept. In between FOS have kept me informed of when they’ve requested info from Satsuma & when they’ve delayed! Hopefully will get my cheque soon.
Vee says
Hi Karen
Have you recevied your cheque from them? Or had anyone recvied a cheque from them? Waiting on a cheque been 4 weeks now
Peter says
Has anyone dealt with Fancy a Payday/ response funding as far as refunds are concerned? I would like the negativy entries removed from my file but find it difficuly to get anyone meaningful to contact
Sara (Debt Camel) says
Have you emailed james@thl-uk.com ?
David says
Hi anyone waiting on a lending stream refund looks like they pay out on the 21st day out of 28 mines went in today👌👌
James says
Anybody waiting on Piggybank? Yes had my redress accepted in March. Not heard a thing since then. 6 months is quite a long time not to hear anything
Pee says
What does it say on the portal??
Peter says
They are in administration aren’t they? I got all excited because they upheld my claim of £900 but then the small print said I would get a fraction of that
Carl says
Hi,
Anyone had any luck with lending stream?
The adjudicator upheld my loans – 30 of them and asked them to recalculate Redress etc but they did not reply so it went to ombudsman. Ombudsman have now upheld 30 loans also and given them until 27th to show any additional evidence to argue it and they still have not replied.
No idea what will happen if they don’t reply by the 27th when the ombudsman said to both party’s to rely by.
Sara (Debt Camel) says
My guess is that the Ombudsman will make their decision final. That was a couple of weeks ago now, why don’t you ask your adjudicator what is happening?
Carl says
The ombudsman made a provisional decision and and gave till the 27th sep for both party’s to reply With additional evidence. Lending stream have not replied as far as today. In ombudsman’s decision they said their final one would be the same if no additional evidence provided. What will happened on 27th because. Pearly lending stream have no intentions. Will ombudsman say so long to pay me and they have to by that date? As there isn’t any further up the ladder I can go with this redress they owe. It’s been since March and gone all the way to the ombudsman and still no reply from them
Sara (Debt Camel) says
Ok 27 September. If LS don’t reply by then the Ombudsman is likely to make the decision final. Then LS have 28 days to pay.
Carl says
Another 28 days. Goodness me. They are so quick in demanding money of me just now though. Terrible company.
Thanks for the help! Again!
KarenH says
Hi Carl
3 weeks ago FOS informed me that lending stream had agreed to pay me redress for 25 out of 27 loans & would be in touch with me directly. Very happy with offer. I hadn’t heard anything from them so contacted them a couple of days ago via their chat & was told they needed my bank details. Offered to give details there & then but they said that they needed to have them via FOS! I’ve emailed my adjudicator & waiting to hear. Think LS are giving me the run around!
Carl says
Hi Karen,
Thanks for this. I’m going to call ombudsman Monday and ask. Such a bad company to sea with. Let me know how you get on 👍
Mike_p says
They are definitely one of the worst companies to deal with. They ignored messages I sent them to ask about updates and even ignored my adjudicator when she asked for an update. I’ve dealt with other lenders and although some have been slow to pay out or provide a final response they at least had the decency to reply when you asked them something.
J S says
Satsuma!
Ombudsman made decision in my favour on 22 July. Still waiting on them agreeing/disagreeing with decision. I chased up Ombudsman about 1 month ago and they were giving them a further 2 weeks to reply.
Anyone else been waiting so long for Satsuma?
Katy says
Been waiting a ridiculous length of time for both the ombudsman and satsuma – I have chased and chased the FOS as they seem to give satsuma as much time as they like. Lasted update from them was that satsuma hadn’t responded to their findings by the given date so some other department has been advised to chase them – FOS have found in my favour but won’t hold my breath for anything to happen any time soon
J S says
Hi Katy, only just seen your reply.
I found the email address for Provident Financial CEO and emailed him directly.
Got an email back today saying the team were looking into the complaint.
Just happy to at least get an acknowledgement from them. If I don’t hear in 1 week, I’ll just keep emailing him until its resolved.
I mean, I doubt he will even look at the emails, sure it’ll be his PA or something but…
Malcolm.lemay@providentfinancial.com
Katy says
Hi,
Thank you for this – going to get all my dates etc sorted and email this guy – see if I get any sort of acknowledgement
J S says
Hi Katy. Got a reply from Satsuma via FOS today. Complaint settled.
Not sure if its a coincidence or not but my email to the CEO seems to have worked.
Good luck.
B says
Hi Sara
Even though sunny are in admistration, should they still be maintaining credit files? I settled a loan with them In FEBRUARY that is still showing as open on my credit file. I contacted them in March to ask why it hadn’t been updated and was told it had been requested but had likely missed trans unions update window and should expect to see it settled in 30-90 days (Don’t think that time is at all acceptable but wasn’t anything I could do) it’s now nearly October and its still showing as open and I’m getting really frustrated now. Can they even do this? is it legal?
Sara (Debt Camel) says
Go back and say you will report them to the ICO for a breach of GDPR as they are reporting inaccurate information to a credit reference agency.
Pee says
That’s a good one. 👍
ernestkola says
Hey sara .. hope you are ok? Pls just quick question ..l want to make a irresponsible lending for Halifax overdraft.. is that very hard to win pls?
Sara (Debt Camel) says
They aren’t easy. How large is the overdraft and has it been increased?
ernestkola says
£2000.. increased like 4 time
Sara (Debt Camel) says
So read https://debtcamel.co.uk/refunds-catalogue-credit-card/. These aren’t easy complaints to win but if you think you have A case, give it a go.
Kat says
Hi Sara, just a quick question..the FOS have rejected my claim again Satsuma and when I said I didn’t accept this they said that lenders do not have to check my credit score. Is this correct?This was my second loan with them…
Loan 1 £800 May 2018 repaid early after Amigo loan taken out
Loan 2 taken out November 2019 £1000 at this point I had 3 guarantor loans and numerous payday loans.
Thank you!
Sara (Debt Camel) says
Was this rejected by an adjudicator or n Ombudsman?
Ruth says
Is it normally difficult to get the adjudicator to escalate the case to the ombudsman?
I disagreed with the adjudicators decision and below is what happened since then
28/08/20 Requested my case to be passed to the ombudsman
09/09/20 Adjudicator emailed a load of spiel and asked if I am sure about ombudsman
09/09/20 I replied saying that I appreciate their time but ‘Yes, as requested on 28th August, I would like you to refer my case to an ombudsman.’
21/09/20 Adjudicator has again emailed saying that 118 are not in the wrong and asked if I am sure about ombudsman
(My case is 3 loans £3500 each over a short period of time and over £35k of debt on credit file)
Why will the adjudicator not do as I ask and is there anything I can do about this?
Sara (Debt Camel) says
This isn’t normal. I suggest you phone up and say you want to complain that your adjudicator won’t send your case to the Ombudsman.
Ruth says
Thanks Sara, will do that.
Very frustrating as such a long wait and now they have set me another month behind by not passing it on.
Pete says
Hi Sara,
I made a DSAR and an affordability claim against Mr Lender and today they dismissed my claim so I am going to appeal to the FOS.
Mr Lender lent me 3 sums of £700, £1,000 and £1,000 within 6 months of each other = and loan 2 was granted the day after loan 1 was settled, which seems pretty clear that I was borrowing more because I couldn’t afford the repayment of loan 1.
there were missed payments and deferrals on both loans 1&2, and loan 3 was defaulted after I had paid about £500.
In the affordability section, I had declared outgoings estimates of £2,530 against a net salary of £2,900, and the monthly repayments took that up to £2,660 -so 92% of my income
They sent a 3 page final decision by post (refused to email it), and maintained they had been responsible in their lending, even though I had multiple high interest loans open at the time (with lots of late payments) and many credit accounts opened within 6 months.
They said as a gesture they would waive the interest on loan 3 and ‘only’ require I pay the remainder of the principal.
I think that even loans one and two should be classed as unaffordable, because of the reasons I explain above and the fact that they were quite large sums.
Do you think I have a case for redress of all 3?
Also – they sent their final decision before they complied with my DSAR which I founf very odd. Is it?
thanks again.
Pete
Sara (Debt Camel) says
I think you are unlikely get the first loan refunded at FOS, although it’s possible, but may well win the second loan.
Mr Lender will sometimes negotiate – if you would be happy with a refund on loans 2 & 3 I suggest you phone them up and say this. Point out the large amount and the missed payments in loans 1 meant they should have checked more closely.
Complaint processing and SAR processing are often totally seperate, it doesn’t seem that odd that the SAR arrives after.
Peter says
Thanks Sara. The problem is that the bulk of the potential interest redress is tied up in the first loan because I settled the second one early (albeit with borrowed money), so if I don’t get that one back then I will still owe for the principal of loan 3, which is money I don’t have.
If you really don’t think I have a case for getting loan 1 refunded do you think they might agree to just wipe the existing debt on loan 3 and call it quits? I’d like to get the default off my credit file if poss.
I don’t have any money at all to pay them, so perhaps if I tell them that they will take a pragmatic view and just get the complaint off their desks?
Is it better to call them rather than email for this?
Sara (Debt Camel) says
So what interest did you pay on loan 2? And what are they offering to reduce your balance to?
Do you gave An email address for them? They are one of the lenders that trues to make things as difficult as possible for you to email them.
Peter says
Loan 1 £700 granted 10/05/17 closed 23/10/17 total repaid £1,318
Loan 2 £1,000 granted 24/10/17 closed 21/11/17 total repaid £1,218
Loan 3 £1,000 granted 06/03/18 closed 31/05/18 total repaid £525 (defaulted)
They are offering to reduce the balance to £475 which is just the principal on loan 3.
I just have the complants@mrlender.co.uk email
Sara (Debt Camel) says
So getting the £218 from loan 2 off the balance would be a reasonable improvement.
There is no downside to asking Mr L to include the second loan and remove the default on the third – if they say No you just go to FOS. They aren’t offering you any cash so there is nothing to lose.
You can push harder if you want and say that FOS is very likely to include the second loan , may include the first and anyway yoh are in no position to make even a token payment (enclose an income & expenditure sheet to prove that) so if they don’t wipe the last laon you are Going to FOS. But at a guess Mr L is less likely to agree. Up to you.
You can try that email but it may not get a response.
Peter says
thought I’d just update you on this.
Mr Lender agreed to wipe the balance and call it quits which I was happy with all things said
Sara (Debt Camel) says
Good result!
Peter says
Hi Sara,
I have received an email from Lantern UK chasing a balance of £1,046 they say relates to a debt owed to Wage Day Advance, who went bust.
I told them that I wouldn’t be paying it as the loans were unaffordable and asked them to write it off, which they said no to but offered a 50% discount. I can’t pay anything anyway as I am now unemployed, but I am wondering what I can do and legally what powers they have to recover the debt (given that the lender no longer exists)
I have no idea what the sum relates to or whether I have had multiple loans in the past with WDA or just 1 and can’t login to the site.
Thanks
Sara (Debt Camel) says
Any idea when these loans were? Do you have other problem debt you can’t pay now and/or which you may have been ignoring?
Peter says
Since 2015 but aside from that I have no idea.
I have loads of debt I have ignored, but have recently started trying to find out what I owe and what I might not have to pay. I can’t pay anything now.
I have made affordability complaints with lots of companies.
Thanks
Sara (Debt Camel) says
Roughly how much debt? Who are the lenders? Do you expect your financial position will improve?
Peter Keppie says
It actually isn’t as bad as I was fearing because thanks to your site I’ve had a lot written off by high cost lenders.
It’s £6.5k to HSBC (now with a debt collector who have offered to knock £1.5k off), £1.5k to Barclaycard (also with a debt collector), and other with high cost lenders probably totalling another £2k but I’m trying to get most of them written off.
My financial position isn’t going to improve any time soon, but I think my debt is actually below £10k which I’m delighted and slightly surprised by. I thought it was far far more than that and that I had no option but bankruptcy.
I can’t pay that WDA debt, but even if I could I don’t want to given that they aren’t trading now. Interestingly, I can’t find that debt anywhere on my Transunion or Equifax credit reports – either in the name of WDA or ‘lantern’
Tom says
Hi Sara/all,
I am currently in the process of awaiting responses from several companies regarding unaffordable loans.
However, I actually began this process in a panic in Dec 2019/Jan 2020 and many of the companies did not respond, however, Lending Stream did respond, not upholding my complaint, although, in the state I was in at the time, I did not see the response.
Recently I complained to Lending Stream, they did not respond within the 8 week timeframe, so I sent it to FOS and they responded telling me they cannot do anything as it is outside the 6 month timeframe for me to respond.
Is there anything I can say that may help my case? Does anyone have any examples of when FOS have been able to disregard this deadline?
Thanks,
Tom
Pee says
Tom. There is no way that the onbudsman will break the 6 month rule. Absolutely not. Sorry to be the bearer of bad news. Lots of people tried in the past. But no joy.
Sara (Debt Camel) says
Well it is possible eg if you have been seriously ill, or in prison, or sectioned, or looking after a partner/child who is seriously ill. But it is unusual and you have to have a very good reason.
Tom says
Thanks both, was certainly worth asking the question, but never mind.
Thanks,
Tom
Marc says
HI Sara,
I am also currently in communication with 4 companies regarding unaffordable loans.
3 of them have said they are investigating so just waiting to hear back now.
However, one of the companies (Myjar) has requested the following:
-Bank statements (at the time/s you took out your loan/s with us showing the below data)
Bank name and logo/Account holder’s name/Account number/sort code
-Pay slips (at the time/s you took out your loan/s with us)
-Any additional information relating to your financial circumstances (at the time/s you took out your loan/s with us)
I read your guidance in regards to these requests, but just wondered how it would affect me or the claim if I wasn’t to provide this info? Would the FOS look down on it?
The loans were from about 2011-2013 so currently do not have access to the statements or bank slips from then, nor do I remember the specific dates of loans. I have requested an SAR which would hopefully give me this. Should the question of affordability not be determined by whatever checks/info they recieved at time of making a decision to lend? I I understand I would need to provide my bank statements for FOS so would try hard to get them.
Many thanks in advance.
Marc
Sara (Debt Camel) says
Roughly how many loans did you have from Myjar?
You may be more likely to have Myjar uphold you Case if you provide bank statements.
You need to be asking for those bank statements now. Don’t wait.
Do you have other evidence about the loans, eg emails?
Marc says
I had around 12 loans with them in all, spread over the course of a few years. I do not have anything like emails, as from memory when a loan was approved I was only ever sent text messages to confirm this. Do I need to provide them with the full years bank statements, with all other transactions?
Matt says
Hi Marc,
I complained to MyJar and got asked for the same information. My loans were more recent so i was able to supply them with bank statements. Didn’t provide payslips as my statements showed my pay going in. I had a final response within 3 weeks of officially complaining upholding my complaint and refund was in my account within a further 2/3 days.
If you can find and supply statements it definitely seems worth it.
Marc says
Hi Matt,
Thank you for this. I am going to call the bank today to see if I can get the historic bank statements at least. Did you just provide the starements from the month you took out each loan, or full years?
Thanks for your help
Matt says
Hi Marc,
I sent them statements from the 2 months prior to each loan. Was actually suprised by how quick it was all resolved after sending them the statements.
Marc says
This is helpful thank you Matt. Didn’t want to send them years worth of statements. I must admit they have been quite good in terms of communication, so hopefully my matter can be resolved quickly too.
Abc says
Hi Marc
I was recently asked the same by Myjar, but I said that I didnt want to provide them with any more personal data and if my complaint was not upheld that I would provide the fos with anything that was needed. I had 4 loans alltogether, My claim was upheld and the whole proccess from making the claim to getting the refund in my account was just 5 weeks, much better than the rest in terms of speedy resolution.
ernestkola says
MYJAR ask me bank statements aswell but l reply to them by saying.. why don’t you ask me the bank statement when l took out the loans and why you asking me now. That am to going to provide any statement. And 2days after my email l got refund £1450
Peter says
Has anyone had any luck getting responses from Quidmarket? I don’t think my emails are being received and the phone numbe on their site is now obsolete.
Who are the administrators and how do you contact them? I have made an affordability request and DSAR and have had no response whatsoever.
SK says
I didn’t know they were in administration? Are you sure?
Mike says
I have a payday complaint that’s gone to the FCA as we’ve had no response or acknowledgement from the company in 10 weeks despite chasing.
They’ve asked for bank statements to help. When I’ve looked 2/5 months I’m down to a minus in my statements. But the others I do have a small
Excess of cash now I’m concerned this will go against me.
I was really bad with money at the time and borrowing to keep myself afloat and pay credit card bills of £400/300 a month. So now I think I’ll lose.
I have a statement from citizens advice a month or so later who were helping me with debts of incomings/outgoings. Should I include that too?
Sara (Debt Camel) says
Yes you can send that to FOS too.
What is your current financial situation?
Sara (Debt Camel) says
If it has been 8 weeks send the case to the Ombudsman.
Peter says
Hi Sara, I certainly wasn’t ‘scaremongering’ when I said that I thought Quidmarket were in admin – it turns out it was Quickquid that has gone under and I made an easily made mistake.
However…I tried to call them earlier having received an auto response email and the number has been disconnected.
That doesn’t look great in my eyes?
Sara (Debt Camel) says
I agree it doesn’t look good but talk yo the Ombudsman.
Ruth says
Hello,
My case is now been allocated to the Ombudsman from Adjudicator after company rejected their decision…how long until I should receive the Final decision? TIA
Sara (Debt Camel) says
It depends how complicated it is and if the Ombudsman needs to ask questions. I suggest you enquire about progress in a month.