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?
Mick says
Hi Sara, I’ve just received a final letter from lending stream in regards to pay day loans between 2011 – 2014. Out of 31 loans taken out they advised they’ll settle 11, and offered 3300 approx. I’ve escalated to the financial ombudsman but I’m now worried this might make them remove their offer, is this a reasonable approach or should I have accepted? Any advice is greatly appreciated, thanks
Sara (Debt Camel) says
How much interest did you pay on the other 20 loans?
Dave L says
Amazing how the QuickQuid administration seems to be being cocked up already with the numerous incorrect emails sent yesterday. Anyone else think is ironic that Grant Thornton and Chris Laverty are involved after the debacle that was the Wonga administration.
Richard White says
Hey my man,i got 2 emails saying they had looked at my claim and owed me nothing! I went beserk and wrote a strongly worded e mail back and low and behold i got a one back saying it was a mistake!! These idiots are crooks anyway! Prob a fishing exercise to see who does not reply so they can bump them
Sara (Debt Camel) says
Everyone has now had an apology email I think.
Karl says
Hi has anyone had any dealings with likely loans mines been given a adjudication decision today in my favour do they usually take it to Onbudsman or accept it? Also I took the loan in 2017 and paid £823.52 in interest, how much would it be in total including the 8% please?
Sara (Debt Camel) says
when was the loan paid off?
Karl says
September 2018
Sara (Debt Camel) says
at guess the 8% would be roughly 140-180 from which LL may take off 20% tax.
paul says
Hi, was this off just a single loan with likely loans? i’m interested as i need to submit a claim. i’m just at the end of a 3rd loan with them. 1st – 5000, then 1500, and 1000. they let me increase/extend the amount. they’re actually emailing me every month telling me to increase the loan – disgusting. paid about 2 grand in interest in total. i had multiple loans at all times. obviously to get interest back from the first loan would be great, but can see them saying no and just looking at the last one.
Iain123 says
Sara. What’s the best way to get the remaining Wonga transactions off my credit file. They removed some last year but 5 are still remaining. All my Wonga transaction, except one, were ruled unaffordable.
Thanks
Sara (Debt Camel) says
Then I suggest you ask the CRA to remove them. Say that Wonga agreed the loans were unaffordable, attach the evidence of this, but say that Wonga haven’t done this.
Tony says
uesnlikely loans will agree with adjudicator decision. usually in about 2 weeks. they are pretty good at finalising things.
Karl says
Thanks Tony, do they have a time scale on paying out or is it a quick turnaround ?
Rinalds says
Hey guys, Am just wondering I have a complaint in with Myjar and the website resolver im using is telling me I can already send it to the obundsman, Myjar have said they cant give me an ETA other than the standard 8 weeks. Im guessing thats how long theyll take, if so is it worth me even waiting for a response from them or shall I just send it to the Obundsman now with all my bank statements and credit files?
Thank you in advance
Sara (Debt Camel) says
There is no point in sending it before myjar have had 8 weeks.
Marco says
Hi Rinalds. My complaint with Myjar was resolved within 4 weeks. Just because they say 8 weeks does not mean it will always take that long, although in some case it may. Like Sara said no point sending to Ombudsman now.
Shaun says
Hi,
I took out a total of 6 payday loans with Mr Lender and defaulted on the last loan, which was subsequently sold onto SLL Capital. I seem to have 2 defaults on my credit score. 1 from Mr Lender and the other from SLL (both for the same debt). I think there should only be 1, is this correct and how do I rectify it?
I recently put an affordability complaint in to Mr Lender and also informed SLL (in case they issued a CCJ, as the debt is 5 1/2 years old now and getting close to the 6 year limit). The interest and fees I’m requesting to be refunded should cover the last loan amount, so I am hoping to have this written off to zero. I have asked all loans to be looked at including the final loan which was sold on to SLL.
My question is; if Mr Lender agree to write off the whole debt, will they inform SLL and will SLL also write the final loan off too? Or, should I not include the final loan amount in my calculations and use any refund (if I get one) to pay SLL? Also, at which point do I need to complain to the financial ombudsman? Only if Mr Lender fail to respond after 8 weeks or is it worth doing now?
Any advice gratefully received!!
Sara (Debt Camel) says
is this correct
yes that is normal.
if Mr Lender agree to write off the whole debt, will they inform SLL and will SLL also write the final loan off too?
if Mr L agrees the last loan is unaffordable they will either settle it with SLL, buy it back from SLL and settle it as though it had never been sold or give you the money to settle with SLL. The “buy it back” option is much the most common, but this is Mr L’s choice, not yours.
Go to FOS if you don’t a reply in 8 weeks. But Mr L does usually reply in time.
Shaun says
Hi Sara,
Thanks for the prompt response and for your helpful answers!
I just got an email today from Mr Lender acknowledging my complain. They said ‘in order to support us in our investigation and ensure we reach the best possible outcome for you we ask that you respond to this email confirming the monthly income you were receiving from your employer at the time the loans were issued’ – should I respond to this request and also should I sent bank statements?
Will my income affect the outcome at all? Also, they said they would look into the last 4 loans and didn’t mention the first 2 for some reason?
Thank you.
Sara (Debt Camel) says
When were the first 2 loans?
Shaun says
Hi Sara,
The first 2 were on; 23/06/2014 (£450) & 16/07/2014 (£150)
The last 4 were on; 15/08/2014 (£260), 03/09/2014 (£1,000), 02/10/2014 (£1,000) & 26/11/2014 (£950)
Should I confirm my monthly income at the time of the loans as they have requested and will this affect the outcome? Should I also send bank statements?
Thank you.
C says
Hi Sara
My final loan with THL was for £150. The interest I have paid back on this loan is £304.85 plus £150 capital so in total I’ve paid £454.85. This loan was taken out in 2013. Would the interest cap apply to this loan or does it only apply to loans taken after a certain date? Thanks
Sara (Debt Camel) says
No it doesn’t apply then, only from Jan 2015.
David says
Hi sara
I don’t know if anyone has put this on here and if they have then apologies, however I got a phone call from Mr lender the other day whilst at work and they are looking into long term accounts from March 2014 to this year.
Is this to do with affordability issues? Because they said they’d get back to me within 12 weeks.
I’ve never claimed against Mr L so it did take me by surprise.
Sara (Debt Camel) says
This is all to do with affordability. See this article and the comments below it: https://debtcamel.co.uk/mr-lender-review-affordability/
RS says
Can anyone offer any advice with regard to a Provident redress please following a successful FOS decision. My cheque never arrived so I have phoned them everyday for the past 5 days. They say they have now got approval to do a bank transfer to me and I have provided them with my bank details. They are unable to confirm when this will be processed and the complaints department say they need to speak to their finance team. The person in the finance team is never available to speak to when I call and I keep being promised a call back. I just want my money!. Is there anyone else I can contact other than the CEO who I have emailed on 2 occasions now?.
Sara (Debt Camel) says
Try emailing Neil.Iveson@provident.co.uk
RS says
Thank you, I will try this.
Flora says
Can I ask did provident make you an offer? I ask this because I have now received a statement of my loans from them but no offer, when is best to start proceedings with FOS?
Carl says
Hi Sara,
I received an email from Ombudsman today requesting a credit report from 2018. They advised I could get this online immediately as a PDF. Could you please advise how I could get this?
Sara (Debt Camel) says
see https://www.transunionstatreport.co.uk/CreditReport/AboutYou. It’s free and also easy to download.
Carl says
Hi Sara,
I received this today from FOS – could you advise what o say to this. I mean I didn’t know till March I was able to do these complaints.
“You applied for the credit card more than six years ago and this is in excess of the time allowed under the rules we are bound by to look into this aspect of your complaint. Please can you let me know if there were any exceptional circumstances that would have prevented you contacting this service before April 2020.
Thanks
Sara (Debt Camel) says
who was the credit card with?
Carl says
Vanquis credit card who upped and upped my credit limit continuously knowing all the transactions were used to gamble on each increase. The only reason I have is that I didn’t know till March that I could do this complaint to them, that’s the honest truth. Do you think they will look into it?
Sara (Debt Camel) says
OK, then just say how you found out what an affordability complaint was = that you didn’t know before early this year that a lender was supposed to check that credit increases were affordable, so you had no idea you could complain. Say how you found out – whether someone told you or you saw an advert on Facebook or wheat – there are no wrong answers, say what happened to you.
Carl says
Thank you very much. That’s exactly what happened, I saw your site and realised what was wrong about all these loans I was given and they kept giving more. I was looking for debt advice and came across help instead of a different kind. Thank you again. Hopefully they look into it.
Mary says
Hi
I submitted a claim to Mr Lender and they have come back to me asking for information on my income from 2015-2017. Has anyone else has this response and did you supply the information?
They say they completed employment checks at the time but need me to confirm my income.
Sara (Debt Camel) says
I suggest yoou send your bank statements for that period if you have them.
If you don’t, then send them details of your income but also set about getting the bank statements as they will really help your case if it has to go to the Ombudsman.
mr Lender often doesn’t make a good offer, but can sometimes be persuaded to increase it, so come back here if you get an offer which you are not sure is good enough.
Iain123 says
Hi
If you get a refund don’t forget to claim your tax back. I’ve just received £197 from the HMRC for 2019/2020 (you can also claim for previous years). I applied in April but was rejected for not having enough information to support my claim (I kind of winged it on the form). I got my act together and printed off the email responses from Payday loan companies, attached this to HMRC refusal and send it back to Bristol. Seven months in total but worth it.
Holly says
Congratulations how can I put this through ? and how lung did this take if you don’t mind me asking
Iain123 says
Hi
I just noticed Sara has a dedicated page to claim this back…
https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
Dave R says
Hi Sara,
I’ve got a question about redress claims against Moneyboat. I haven’t submitted a claim yet as I’ve been spooked by the various comments I’ve seen here about Moneyboat threatening people by reporting them for fraudulently obtaining credit and whatnot.
I’d used them quite regularly since 2017 and definitely got stuck in a loop with them, here’s the complete list of my loans with them. All of these fully paid back with no defaults or anything.
January – 2017 – £500 6 months
October 2017 – £500 6 months
May 2018 – £500 6 months
Feb 2019 – £200 2 months
June 2019 – £500 6 months
Feb 2020 – £200 3 months
Is it worth me submitting a claim against them? I worry because a handful of times when obtaining the credit, they would email and ask a few questions but I would say whatever I needed to say to get the credit. They must have been able to see from my credit reports that I had other loans open and that I was taking them out regularly.
Sara (Debt Camel) says
I’ve been spooked by the various comments I’ve seen here about Moneyboat threatening people by reporting them for fraudulently obtaining credit and whatnot.
You may have noticed that NONE of these people has ever had any problems when they take their case to the Ombudsman.
If you knew you were stuck as one loan left you so short you had to borrow again, then that loan was unaffordable.
Dave R says
Hi Sara,
Thanks for coming back to me.
I have to file the complaint directly with Moneyboat and they have to refuse to uphold it before I go to the Ombudsman correct? Or can I go straight to FOS?
Thanks for all your help
Sara (Debt Camel) says
Yes, you have to give Moneyboat the complaint first.
Dave R says
Morning Sara,
So I’ve had the stock reply from Moneyboat with the scare tactics in there. Appreciate nobody has reported that they have had them enforce anything on these lines. Their email is below.
My question, do I need to dig out bank statements for each period of each loan and send them over? Have other people done this?
———
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 fraud prevention agencies. 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.
We will write to you in due course, once we have completed our investigation; please find our complaints procedure outlined below, which advises you of the manner your complaint will be handled:
——-
Sara (Debt Camel) says
I think most people here don’t send them as they are being so unpleasant.
But you do need to dig them out for when your case goes to the Ombudsman, as most of these seem to.
Dave R says
An update on this. Moneyboat have accepted my complaint and offered me a refund of all interest paid and to amend credit record. No bank statements supplied and I didn’t reply to their scare tactic email. A response and final offer two weeks later. Was not expecting that!
Wes says
I put a complaint with mr lender a year or so ago.
At the time they took off all interest on the last outstanding loan. I was in such a bad way, anything was worth taking. Now I’m in a better position is there anything else I could potentially do in regards to another complaint?!
Also, I sent my complaint regarding satsuma to the FOS. I’ve had to send credit report/statements etc. Had until 2november along with satsuma to send information in. How long after do you start to have updates in relation to this?
Thanks
Wes
Sara (Debt Camel) says
Mr lender – no sorry, you can’t reopen this.
Don’t hold your breath on Satsuma- it may take a while for them to send over your case file.
Wes says
Should I wait until I hear back or should I email asking for updates?
Sara (Debt Camel) says
I would wait a few months.
Ben H says
Hi,
I’ve sent over a complaint regarding Lending Stream irresponsible lending in September to the ombudsman (15 loans in total LS didn’t uphold any loans), adjudicator received all information from LS on Friday, yesterday I sent my full credit report over to the adjudicator as he stated he was able to assess it yesterday afternoon, today I’ve received his opinion letter (giving LS 14 days) and they have upheld loans 4-15 in my favour, I’m just querying if from past experiences do LS tend to fight this and take it further to the ombudsman or accept the adjudicators decision?
Mike_p says
Judging from my own experience and what others have posted here, they tend to agree but drag out responses and payment for as long as they can.
AD says
slightly different query, i had complaint upheld with Lending stream, they agreed redress and for negative information including default to be removed. The refund was given swiftly however the default still hadn’t been removed after timeframe advised by LS, i raised with them they were no help. i raised dispute with TransUnion whom basically said they couldn’t get hold of LS and couldn’t remove default. However strangely the default dropped off however 2 LS loans appeared on my credit and still remain with the original balances in full which obviously is affecting my credit as im not paying towards loans on my account which don’t exist. LS claim i have no accounts with them and keep passing me round . any advice would be greatly appreciated. can i complain to FOS about this?
Sara (Debt Camel) says
So have these two LS loans been repaid now the interest has been removed?
AD says
All previous loans were paid off in full, the final loan ended up defaulting and going to a debt collector. The debt was paid before any redress was agreed.
Sara (Debt Camel) says
Tell LS that unless they mark the debts as repaid in full, zero owing, you are sending your complaint to the Ombudsman in 2 weeks time.
AD says
I also have one showing on my credit file with them that says open, account up to date but balance is zero, doesn’t having this account showing even though its balance is zero, have a negative effect on my credit?
Sara (Debt Camel) says
you want them all to show as settled or they will never drop off.
marl says
hows anyone going on with peachy
Andrew C says
I had an (unsolicited) email from Peachy yesterday (12th November). It said I have the ‘option to submit a claim’ via my account on their website. This morning they confirmed my claim and said that it will be assessed within 30 days. So keep an eye out for emails from the administrators…
Sara (Debt Camel) says
Yes, these emails are starting to go out. people should look at for them going into spam.
The deadline for sending a complaint is 12 December, so only a month away!
The administrators warn that you may only get a low amount back, possibly 1 or 2p in the £
I think people’s credit records are going to be cleaned up automatically even you don’t complain.
I am not clear if you have to send in a claim if you had an open complaint with FOS when they went under, so best try to do this.
Susan says
Hi anyone who has had an offer from Neil Iveson at provident can you tell me if the offer is before or after tax and what percentage of tax
Tia sue
Sara (Debt Camel) says
Tax is deducted where there is an 8% element being added to the refund of interest. This could be a very different amount for people in different situations.
Nigel says
Just got a strange email from mr lender ok sure it’s legitimate but wonder why would they do this of their own back
This is not a marketing communication. Please read the following information
We are writing to you regarding the above loan(s).
The above loan(s) has/have been included in a review of historic loan affordability. Lending practices have evolved over the years. This means that on occasion, a review of previous loans is appropriate to ensure that customers were treated fairly and that we have fulfilled our duty of care as a responsible lender.
We have therefore reviewed all loans taken out between the 1st April 2014 to the 1st March 2020 to ensure the loans were affordable, that we took into account all relevant information at the time, and that our customers received the right outcome.
Our Investigation
Based on our investigation of these loan(s), we believe we could have carried out further checks to properly determine if the loan(s) would have been affordable at the time it was/they were taken out.
In respect of ******* our records show that you paid a total of £501.60 towards the loan agreement. This can be broken down as £151.60 towards interest and charges and £350.00 towards the principal loan amount/s.
Redress Due
The total amount of redress due, along with a detailed breakdown of how this has been calculated is captured bel
Etc
Sara (Debt Camel) says
they are conduction a review of some accounts. See https://debtcamel.co.uk/mr-lender-review-affordability/
How many loans did you have from them? In total, not just after April 2014? You may be able to get more than this refund…
Nigel says
Non before april
Sara (Debt Camel) says
How many after?
Amanda says
Hello i wanted to know after reading all these comments if u can help me i have a loans2go loan only got about 3 payments left ive struggled to make payments i work 48 hours a week some times 54 ive had payday loans to pay things then struggled again please can u see if i can get a refund please
Sara (Debt Camel) says
Read https://debtcamel.co.uk/worst-loan-in-britain/ which looks at these loans. It has a template you can use to ask for a refund if you think the loan was unaffordable.
Os says
Does anyone have experience with dealing with safetynet credit ?
I was borrowing from them from 2015 to 2019 they kept increasing my limit up to £1,200.
On 4th Jan 2017 I asked them in no uncertain terms to drop my limit down to £200 and never lend me higher than that amount.
They simply ignored me and have paid more than £3k interest since
Whilst I know it’s not a traditional payday company am I still able to make an affordability claim against them?
Sara (Debt Camel) says
Yes. Use the standard template on this page – a lot of people have done this and got refunds.
Wes says
I sent a complaint to peachy last year. Didn’t really know about the whole FOS thing. I was in a bad way so wasn’t thinking straight. Well I’ve not paid anything since. I’ve tried logging onto my account to see about complaints etc, but it says my emails doesn’t exist? Is that the normal for everyone?
I receive a text to say my account is disabled and to ring for more information?!
Is anyone else having trouble getting into their accounts?
Mrs H says
I’ve discovered this today, but with Uploan, not peachy (same company different brand) – I still have an outstanding balance, they did not uphold my complaint and i went to the FOS as they went into administration so the FOS returned my complaint un-resolved.
Alex says
Thankyou so much!
I have had a ridiculous amount of loans from 2015 until present, so I decided to give this a go.
I send emails to most of the loan companies I used about 3 weeks ago. I’ve already had £1189 from Lending Stream, £395 from MoneyBoat and £300 from MyJar.
I have also been quoted over £1000 each for Sunny and Piggybank but they’re in administration so not expecting much, has anyone had any luck with them?
Ernestkola says
Hey sara … pls quick question .. do you know how days or weeks Mr Lender payout? They accept Ombudsman final decision.
Sara (Debt Camel) says
That’s good – sorry I don’t know.
Nathan Chan says
Hi Sara,
Apologies if this is not the right place for it but quick question, if I raise an affordability complaint over a Halifax Personal Loan would that ruin all chances of me getting credit in the future e.g. mortgage (I still have years before I will consider getting one). I have been submitting complaints to payday lenders and this made me remember that when I applied for the £5,000 loan with Halifax, I already had around £3-4K in payday loans although these were on my Barclays account not Halifax. The month before this I had applied for a £500 Halifax credit card and got accepted and then around a month prior to the card a £1250 overdraft. I don’t recall and cannot find any evidence of me having to send barclays statements across or them asking for it.
Thanks,
Nathan
Sara (Debt Camel) says
Get a future mortgage with the Halifax? I don’t know but it’s possible an affordability complaint could affect that. But with other lenders – no, they won’t know.
RS says
I have finally received my redress payment today from Provident. This was following a successful FOS decision but the cheque never arrived. After constantly chasing this last week including emailing the CEO, I finally got them to agree to doing a bank transfer. For those waiting for cheque’s, I have been told that during the current pandemic they are raising these weekly on a Thursday.
To provide some guidelines on timescales I submitted my original affordability to complaint at the beginning of February 2020, they completely dismissed this in April 2020. I submitted a claim to FOS which was picked up by an adjudicator in May. Provident used every delay tactic and finally provided FOS with the case file in September. End September FOS ruled loans 5-13 should be upheld, Provident finally accepted on 22nd October.
Thank you Sara once again.
JaneC says
That’s great news. I am still waiting for a decision from adjudicator. She has now had to go back to them a 3rd time for credit checks. I had 7 loans and even though she has asked for all of them they only send a couple at a time. So frustrating. They are clearly just using any delay tactic possible.
Karl says
My adjudicator has been waiting since July for my credit check and is still waiting now can’t understand why they are being allowed this amount of time surely it has to end somewhere!
Tom says
Hi RS,
I have been advised by FOS today that Provident have accepted their decision today. Can you please let me know how long after the message from FOS you have been contacted by Provident ? FOS mentioned that it may take six weeks. Thank you.
RS says
Hi Tom. Mine was dealt with slightly differently as Provident did not respond to the FOS regarding their final decision in the necessary timescales. I therefore took it upon myself to chase Provident directly which included emailing the CEO. I received a letter in the post from Provident a couple of days after being chased agreeing to the FOS decision. In this they advised a cheque would be sent in the next 14 days. This never arrived (my summary regarding this is on my original post). If I were you I would chase this up directly with them by calling them and emailing the CEO. They use every delay tactic going and as I mentioned previously, are only raising cheques weekly on a Thursday.
Tom says
Thank you for your feedback RS.It is very much appreciated ! Take care and keep safe.
James says
just received the following from Mr Lender:
We are writing to you regarding the above loan(s).
As a responsible lender we continually review the lending we undertake to ensure that our policies and processes have delivered the right outcomes for our customers. Lending practices have evolved over the years, this means that on occasion, a review of previous loans is appropriate to ensure that customers were treated fairly and that we have fulfilled our duty of care as a responsible lender.
We would like you to provide us with information relating to the income that you were receiving as your main salary when the loan/loans were entered into by completing the table below. It is important that you return this information to us as we need this to allow us to conduct a full review of your loan/loans and provide you with an outcome.
This information should be emailed to the following address: incomereview@mrlendercontact.uk or can be posted to us at the above address. Alternatively, please use the following link https://www.mrlender.com/verify-your-income to provide us with the information. If you do not provide this information to us within 30 days of the date of this letter, we will rely on the information you provided to us at the time of your application(s) when conducting our review.
Interesting! Haven’t had a loan with them (or anyone) in a couple of years now. Perhaps they’re preempting something?
Sara (Debt Camel) says
they are doing this with quite a few people. See https://debtcamel.co.uk/mr-lender-review-affordability/ and think about whther you should make a complaint.
Maria says
I made an affordability complaint to them in February but they did not uphold it. An email from them looking at my accounts again would be nice
Rob says
Hi,
I recently made an affordability claim with Mr Lender. I have to admit they were very efficient at responding to my complaint, just 1 day in fact. I had 5 loans with them, and they advised that in line with the FOS precedent, they were willing to refund the interest and charges from the 5th loan only at around £150… I was surprised to say the least and accepted the offer, which I was told had been passed to their accounts team to process. Shortly after, I find this amazing website! Do you think I am able to (or is it worthwhile) quickly sending another email to dispute this offer and hold out for the 4th loan fees as well?
Thanks in advance
Tim says
Hi, great site.
This may be the wrong place to ask but I’m slightly confused.
A CCJ has been issued 2 years ago on my credit file. It was for a debt to a now defunct payday lender, ( think it was quick quid).
How come I haven’t been chased for this yet, I’ve heard nothing at all.
Thanks in advance
Sara (Debt Camel) says
Have you put in a claim for irresponsible lending to QQ? See https://debtcamel.co.uk/quickquid-casheuronet-administration/.
Does QQ still own this debt or have they sold it to a debt collector?
Tim says
They contacted me last year saying they upheld my claim, I hadn’t put a claim in but it was part of all the administration procedures they’re all currently processing.
Just checked on kredit Karma and I can’t see who the ccj was for. The amount was what I owed QQ but I can’t remember if they had sold the debt on. I’ve only recently removed my head from the sand and started trying to tackle these issues.
Sara (Debt Camel) says
They contacted me last year saying they upheld my claim, I hadn’t put a claim in but it was part of all the administration procedures they’re all currently processing.
um, are you quite clear they have told you you do not need to enter a claim on the claims portal?
Can you see a record from another debt collector about the same debt?
Tim says
Sorry Iaybe didn’t phrase it correctly.
They contacted me asking if I wanted to make a claim through their claims portal so I did.
I’ve checked to see who took the ccj out against me and I can’t fi d any details other than a case number and that it was at Northampton County Court business centre
Sara (Debt Camel) says
yes, you need to ask the court. It can take a while to get through on the phone.
Tim says
Hi Sara, the court finally got back to me.
It was SSL capital who filed the claim and the original creditor was Money in advance.
As I said this was almost 2 years ago
Sara (Debt Camel) says
so it wasn’t QQ.
Money in Advance went bust before 2016. I don’t think you have any chance of a claim against them.
You can talk to National Debtline on 0808 808 4000 about wher you have any chance of challenging the CCJ eg because you never received the papers.
Tim says
Thanks for getting back to me. I’m still wondering as to why I haven’t been chased for the debt 2 years after a CCJ was given, seems strange.
I noticed there’s a £225 fee to apply to have it canceled as I didn’t know it even existed, the debts only £425.
Is it possible to make a settlement offer to SLL and can they remove it in anyway or is it a case of once the court has issued it that’s it?
Do you know anything about a Tomlin order
Sara (Debt Camel) says
I noticed there’s a £225 fee to apply to have it canceled as I didn’t know it even existed, the debts only £425.
If you are on a low income you may be able to get it reduced,
Is it possible to make a settlement offer to SLL and can they remove it in anyway or is it a case of once the court has issued it that’s it?
yes, but SLL may not accept an aoffer. but settling the debt partially will not result in it being marked as settled on your credit record. And even if you pay it in full, it will remain on your record for another 4 years.
Do you know anything about a Tomlin order
you can offer a Tomlin order in a court case instead of a CCJ. It is not an option when you already have a CCJ.
Tim says
Thanks for the help Sara
Nat says
Does anyone know when 247 moneybox will be paying out. I can’t seem to find that answer im the faqs
Kat says
Hi Sara. What can I do if I am not happy with the Ombudsmans final decision? They have said that the matter is now closed with them but I don’t think they considered it properly…for a start the decision came back within 15 days which seems remarkably quick considering how long I have had to wait for other decisions. All other decisions have gone in my favour and I just feel that this was not looked at thoroughly and I also feel that I have a good case that has not been properly examined. Thank you!
This was for Satsuma loans!
Sara (Debt Camel) says
I am sorry to hear that. There isn’t anything practical you can do – your only option is to go to court… I have not come across anyone who has won an affordability case in court after losing at FOS, so I suggest you would need to take professional advice from a solicitor if you wanted to pursue that.
Claire says
That seems very suss as I have just been told they are not able to make contact with Satsuma at all at the moment. I would escalate it.
Cass says
Hi Sara!
I wanted to ask for your opinion and advise and see if I have a chance with the Financial Ombudsman. Apologies as this is a long one. Struggling to make it short – sorry.
I’ve put in a complaint to Mr Lender for 1 small short term loan of £250 that was taken out in 2012 (This is the only loan I’ve taken out with them). I paid an extra £613 in interest and charges, taking my total payment for this loan to £863.
Initially, Mr Lender did not uphold my complaint. After asking them to reconsider, Mr Lender partially upheld my claim and came back to me with a redress of £325 not including the statutory interest. They said this redress is compensation to my unfair treatment claim in the complaint and is the money that I paid from the time they used CPA to clear my account.
I know that the Financial Ombudsman does not usually favour 1 small loans and loans older than 6 years but I wanted to know if you think Mr Lender’s offer is fair and whether you think that I have a chance if I take it to the FO as I personally believe I have a strong case.
Sara (Debt Camel) says
I am sorry but I don’t know.
Claire says
Hello has anyone got a claim with the ombudsmen for Satsuma loans? I took it to the Ombudsmen in March and I have got nowhere. Satsuma are not cooperating. Surely they have to play ball if the Ombudsmen involved. Just worried they know they are going bust.
Thank you
Sara (Debt Camel) says
Do you mean Satsuma haven’t sent your case file to FOS?
Karl says
I’m in exactly the same boat it’s ridiculous how much time they are been given!
Claire says
Yes I think this is the problem.
Sara (Debt Camel) says
ok then I suggest you email the FCA and say how long this is taking. The FCA will not intervene in your case, but Satsuma should not be doing this.
I suggest you email the FCA at consumer.queries@fca.org.uk and copy this to joe.sweeney@provident.co.uk and Neil.Iveson@provident.co.uk
Subject: Provident trading as Satsuma (700144) hasn’t sent FOS my case file after 7 months
Put in a few short details about your complaint – how many loans you had freom Satsuma and how large. What Satsuma offered (if anything) and the date you sent the case to FOS.
Say you have been told by FOS they asked Provident for your case record 7 months ago [is that correct??] but Provident haven’t yet sent this which is preventing FOS from starting work on your case.
Say you know the FCA will not look at your individual case but you thought the FCA should know how slow Provident’s complaint handling is as you don’t think a firm should be allowed to carry on lending to people if it can’t manage to respond to the Ombudsman in a reasonable time.
Cazza says
I raised a complaint with the FOS in July, they asked for further details a few weeks later, today they said they had all the information they required, two hours later they emailed their findings – in my favour.
They have given Satsuma till the 2nd of December to accept or reject.
B says
Satsuma are currently doing this to me also! I am totally disgusted at what they are allowed to get away with. In my opinion, if they haven’t sent the case file to the FOS within the requested time limit, the complaint should automatically be found in the consumers favour! it’s about time the FCA cracked down on this with some tough love cause it’s disgraceful the amount of people that have lost out on claims when a business goes bust when they’ve had a case sat with the FOS for months and months
JaneC says
Totally agree. My adjudicator has asked 3 times for the credit checks. They are sending them a few at a time so she keeps having to go back to them. Then she tells them they give them more time than normal because of the current situation. Why should they give them more time when they have to ask 3 times for information. I think the FOS are being far too lenient with them.
James D says
I’ve got the same issue with Satsuma they rejected my complaint Nov-19, adjudicator worked on case from Jan-20 and keep getting told by FOS that they are waiting for files from Satsuma to be able to assess the complaint.
I’ve phoned and emailed but no progress.
JaneC says
James D have you tried emailing Fos.complaints@provident.co.uk? I sent them an email and copied the ceo and they did come back to me pretty quickly and sent the information to my adjudicator. It took my adjudicator 2 weeks to come back to me to say they hadn’t sent everything. So now back to square 1.
RD says
HI Sara. I put in an affordability complaint to Peachy, which they rejected. I have been sending emails to the administrators, but I have had no reply. Tried logging into my account to put in another claim as I believe these new claims are being reviewed by administrators, but my account has been deactivated, as it was sold to another a company. Peachy said my complaint was looked at and was rejected. Anything I can do? 6/8 loans have accepted my complaint and this peachy loan was opened after 5 weeks after I opened the other 7.
Sara (Debt Camel) says
Did you just have 1 loan from Peachy and the other 6-8 were with a different lender? If this is right, how large was the Peachy loan?
Rd says
That is correct and it was for £500. Surely they must have saw from my credit report that the month before that I took out 7 new loans.
Sara (Debt Camel) says
you were pretty unlikely to win a one loan case for £500 at FOS. That is why the adminstrators have probably rejected your claim. You can appeal but I have no idea if there is any chance of you winning this.
RD says
Sorry peachy themselves rejected, it was before the administrators were involved. I didnt send it to FOS before the administrators were appointed.
Sara (Debt Camel) says
ok, that doesn’t make a difference. You can appeal to the administrators but I doubt you will win.
Simon says
Hi Sarah
I was just after some advice on a final response letter I’ve just received from 1 plus 1 loans. Unsurprisingly they haven’t upheld my complaint on an unaffordable £5000 loan taken in February 2019. They were aware at the time I had 3 other guaratar loans as well as payday loans and several credit cards in arrears but still went ahead and gave me the loan. They are saying in their letter that as I failed to provide them with information at the time regarding my quite obvious financial troubles and gambling problem that this would be seen as “unlawful and fraudulent” and would be subject to a comprehensive and detailed fraud investigation, the outcome of which could be reported to the police and CIFAS. So my question is basically can they do this or is it just a scare tactic to try and put me off taking my complaint any further?
Sara (Debt Camel) says
Several lenders says this – no one has yet reported any problems when they have sent their complaint to FOS. It seems it is, as you say, just a scare tactic.
I find it hard to imagine why they didn’t ask a lot more questions if they knew you had 3 other guarantor loans!
Simon says
Many thanks Sarah, I’ll forward the complaint on to the FOS.
RD says
Hi Sara. I’ve put two rejected complaint to them on 7/7/20 and I have received two emails stating general covid delays.
Do you know what the time scale is now with covid slowing things down?
Sara (Debt Camel) says
who are the lenders?
RD says
George banco – 10k guarantor loan.
118118 – 3.5k loan
Sara (Debt Camel) says
neither of those is likely to be fast.
RD says
The cases haven’t been assigned to anyone yet.
LizaJ says
I’ve raised a complaint on 1st February with Satsuma they said they had rejected my claim so it was forwarded to the FOS in March. Since March I’ve continued to have updates stating they are awaiting further information from Satsuma. This is just being dragged on for months.
Ryan says
I’m in the exactly same position, they keep saying they are awaiting information from satsuma from around February time. At one stage they said they had all information. But then said they are awaiting information again. I’ve never had this problem before with any other pay day loans companies. I don’t understand how they have been given this long?
Sara (Debt Camel) says
Lizal & Ryan – see my reply to someone with a similar problem here https://debtcamel.co.uk/payday-loan-refunds/comment-page-202/#comment-396385
Martin says
I am a little bit in a pickle. I had one loan with SafetyNet, outstanding amount £403.75. I submitted affordability complaint which was upheld and they have sent me the following calculation of refund:
outstand amount: £304.62
outstanding interest: £99.13
Interest repaid: £479.69
Statutory interest 8%: £83.50
HMRC tax 20%: £16.70
Refund to me: £241.87
I was quite happy with this outcome but now I was contacted by the company (Lantern UK) who my debt was sold to and they are asking for the whole amount of £403.75 to be repaid to them. How do I go about it?Since Safetynet is already deducting outstanding balance of £304.62 from my refund, do I still need to pay the company my debt was sold to? In this way I would have paid twice! Is this correct?
Sara (Debt Camel) says
had the loan been sold to Lantern when you made this complaint?
Martin says
yes, it was, I only submitted the affordability complaint recently (last week) and the loan was sold before. I had no idea it was sold, just thought it was debt collection agency but apparently sold. Would I really still owe Lantern UK over £400? Thank you for your advice.
Sara (Debt Camel) says
No, you should go back to SNC by email, copy Lantern in on this, and say you did not realise they had sold the debt and they should have arranged for that to be cleared. Say they now need to buy it back from Lantern or settle it with Lantern or you are sending your complaint to the Ombudsman.
Martin says
Thank you so much, I really appreciate it, will follow your advice.
Nicola says
I have received a desicion from the fos that provident have accepted to pay the refund they have until the 25th of November to pay.
But i very much dount it as my first complaint was in February
Mk says
Hi Nicola,
Have you received any information/update from provident. The FOC said provident has misold and provident agreed. I was wondering how long they will take to send the check? I wish they would just do bank transfer :/
Dan says
Hi ,
Just after some advice really ! I have had a response from the FCO today about 7 loans which I had from lending stream between 2018 – 2020 . They have said that lending stream should not have provided me with loans 6 and 7 and that all interest and charges should be refunded on these loans . They have also said that any adverse information relating to these loans should be removed from my credit file . I replied to them to ask if they can tell lending stream to remove the entire loans from my credit file and they said that they are unable to do this . I was unaware of this and was of the assumption that if a loan is deemed unaffordable then it should be removed from your credit file completely!
Regards
D
Sara (Debt Camel) says
Normally only negative information is removed – although some lenders can’t bothered as this is fiddly and just delete the whole record.
If there are a very large number of loans, sometimes FOS tell the lender to remove the negative infor from the first few unaffordable loans and then delete the rest. But with only 7 loans that won’t apply to you.
Wes says
I recently commented about my peachy account. I could log in to view etc.
I’ve received an email today, to say it’s been sold to a debt collection agency.
I still believe the loan was unaffordable. I complained back in 2019, however I didn’t know about being able to send it to the FOS, I wasn’t in a very good place at the time so I just ignored everything in regards to payments etc.
Now it’s been sold, I’ve emailed to say I still think the loan is unaffordable and now in administration, I want them to reopen which they refused within about 10 minutes of my email.
Is there a way I can still send this to the FOS or??
Sara (Debt Camel) says
No there is no way FOS will look at a case. Legally they are not allowed to.
How many loans did you have from peachy? How large was this last loan?
Wes says
I’m pretty sure I had 2 loans with them, the second loan was over £1000. Which I’ve not paid anything towards for over a year. As soon as credit scores go up, they see the increase in score and are happy to hand out loans. They never seem to dig deep past the month of applying!
Sara (Debt Camel) says
it’s hard to win 2 loan cases at FOS.
This is one that has got away… what is the rest of your current financial situation like?
Wes says
It’s got a lot better than what it was back last year when I filed the complaint with peachy. Annoying thing is if I had complained now, I’d be in a better position, thinking straight etc and would have known to send it to the FOS. But was in a dark spot. And do believe that they lend you money when you’re starting to look up with finances. Any increase in a credit score and that’s when they accept. It’s wrong as it doesn’t seem like they look into your history.
Charlene says
Hi
I wonder if you can help me.
I have made an affordability complaint against Money Boat.
However, they have come back asking for bank statements around the time of the applications. Which I have no problem sending. However, they have stated that of they find something which did not declare at the time they will “register this attempt to gain redress falsely as a first party fraud with fraud prevention agencies”.
Now the only thing I failed to tell them at the time was that I had a gambling problem. Which will show on my statements.
My question is, is that something they will class as fraud?
Many thanks in advance for any advice.
Kind regards
Char
Sara (Debt Camel) says
Moneyboat say this to everyone. So far as I know, no-one has had any problems at all if they send the complaint to the Ombudsman.
Charlene says
Hi Sara
Many thanks. For the clarification. I will proceed with sending my information.
I will keep you updated on my progress.
Kind regards
Char
RES says
Hi Sara
I have received my credit agreement’s back from provident .
I had 15 loans from 2009 until 2017 all for seeming large amounts ( £800 up to £2000)
I was planning on sending all my bank statements with my complaint to FOS as the information that provident have provided says I’ve told them my income was a lot higher than it actually was , i can prove this wasn’t the case . Have you come across this before ? and is it worth me sending everything i send to FOS to provident also just to see if speeds things up?
Many Thanks x
Sara (Debt Camel) says
Have you had a reply from Provident?
RES says
Hi Sara
Sorry yes I have but just the generic ones and now past 8 weeks !
Thanks
Sara (Debt Camel) says
ok so you haven’t had a response to your complaint. I suggest sending it to FOS now. you can send the statements to provident too if you want – it can’t do any harm.
Brendan says
Hi Debt Camel,
I have some debts from 2016-2017 that I am trying to deal with.
Some of the lenders and debt agencies have accepted settlement offers. Some are far too high for me to be able to afford and I am continuing making token payments.
My main concern is to try and clear my credit report of some defaults if possible. I believe that a majority of the loans were irresponsible and unffordable for me at the time but I was depserate for money.
When contacting the debt companies in the first instance do I just request they remove the default or should I also ask for refunds despite settling some of the debts for less than I actually borrowed.
Also I have a debt with satsuma. I have offered a figure to settle the debt. Should I wait and try and deal with it as unaffordable and irresponsible or would it be better to settle the debt first? If the loan was deemed unaffordable by the ombudsman what would happen to the balance I owe?
Many thanks,
Brendan.
Sara (Debt Camel) says
do I just request they remove the default or should I also ask for refunds despite settling some of the debts for less than I actually borrowed.
I should make a standard affordability complaint and ask for a refund. Just because it’s easier. You won’t get a refund, but this is the w=right way to establish unaffordablity which will get the default deleted.
Should I wait and try and deal with it as unaffordable and irresponsible or would it be better to settle the debt first?
it doesn’t matter. As you have offered a settlement, i would wait for the reply to that before making an affordability complaint.
If the loan was deemed unaffordable by the ombudsman what would happen to the balance I owe?
interest is removed from it and any refunds on previous loans are used to reduce it.
How large are your renaming debts?
Liam Attrill says
Do I need to provide bank statements that cover the full length of the loans until they went to default? It’s just I know I switched accounts in this time, so will I need to provide statements for both/all accounts I used?
Thank you.
Sara (Debt Camel) says
I should get them all now, just in case.
Liam Attrill says
Thanks. Have requested.
Liam Attrill says
Hi Sara,
So H&T loans came back and didn’t uphold my complaint.
H&T’s argument is generally
When borrowing from H&T, customers are able to choose repayment terms and amounts to suit their individual budget. This is something you did during the application process on each occasion you have borrowed from H&T.
As part of the underwriting process you were required to submit your income and expenditure details. The figures you submitted supported your attestation that the loan being applied for was affordable.
Additionally, as part of the online application process you also specifically confirmed that you were not in any financial difficulties whatsoever prior to the loan being approved.
At no point did you raise any concerns regarding your ability to afford repayments prior to your applications being approved or during either loan period.
They have also advised I can submit further evidence.
My argument is if they looked at my bank statements they would see a lot of gambling at the time (I don’t gamble anymore) which is where a lot of the money was going, and the expenditure exceeded what was put on the forms. The money was used to get me out of a hole at the time, as there was a period of unemployment too. My bank statements show all of this and lots of gambling during the 3 months prior to taking the loan.
Do I have a case and should I go back to them or forward on to the FOS?
Thank you.
Sara (Debt Camel) says
how many loans did you have from them and how large?
Liam Attrill says
It was only 1 loan for £200 but my statements do show it was probably unaffordable if they had checked my statements. Thanks.
Sara (Debt Camel) says
It’s very hard to win a one loan complaint for a small amount. FOS is unlikely to think it would have been proportionate for the lender to have asked for statements.
Chris says
Hi, I made a complaint through Resolver to Moneyboat about affordability of two loans I had with them.
They have replied and asked for bank statements and with a veiled threat that if I have supplied any false information regarding affordability they will pursue it as fraud and register this with credit agencies. Has anyone else had a reply like this and are they genuine or is it to try and stop you taking the complaint further?
Thanks
Sara (Debt Camel) says
They always say this. No-one has had a problem when they take their compliant to the Ombudsman.
Wes says
I actually had the same, sent it to the FOS, have until 2nd of December to send everything over. Last night as I was sorting it, I re-read the final response letter, and for the first loan, which I repaid early, they had me down as earn £2600 a month. Even though I have an email I sent to them of my payslip.
The second loan I took out about a week after the close of the first loan, which shows me earning the real amount, and me wanting to borrow a lot more than the first time.
So don’t let them threat you with the fraud card etc, when they’ve entered miss information themselves.
GP says
I had my redress approved today by lending stream just wondered how long they room to pay you, was it within the 28days they’ve dragged there feet at every other point so I’m not holding my breath lol ? Thanks
Dave R says
HI GP, I had mine 1-2 days after accepting the offer and confirming my bank details this month. But others have waited much longer!
Fred says
Hi hi, I’ve been contacted by lending stream about a refund and I am not sure if it is a scam or not. I made no moves to get a refund and was unaware that I might be able to get one. Is this a phishing scam or is it safe?
Sara (Debt Camel) says
how were you contacted, email, text, letter?
Helen says
Hello,
Has anybody out of the blue received an email from Mr Lender as per below? This came without me contacting them in any way. I only had 4 loans with them in total and so didnt really bother with affordability complaint.
We are writing to you regarding the above loan(s).
The above loan(s) has/have been included in a review of historic loan affordability. Lending practices have evolved over the years. This means that on occasion, a review of previous loans is appropriate to ensure that customers were treated fairly and that we have fulfilled our duty of care as a responsible lender.
We have therefore reviewed all loans taken out between the 1st April 2014 to the 1st March 2020 to ensure the loans were affordable, that we took into account all relevant information at the time, and that our customers received the right outcome.
Our Investigation
Based on our investigation of these loan(s), we believe we could have carried out further checks to properly determine if the loan(s) would have been affordable at the time it was/they were taken out.
In respect of 64281939 our records show that you paid a total of £524.40 towards the loan agreement. This can be broken down as £224.40 towards interest and charges and £300.00 towards the principal loan amount/s.
Redress due £170.96
Sara (Debt Camel) says
Yes, see https://debtcamel.co.uk/mr-lender-review-affordability/.
But how many loans did you gave from them? Just refunding one may not be a good offer…
Ernestkola says
Ask for 8% statutory interest aswell from the day the loans taking till date
Jodie Riordan says
I received a refund from Cash converters back in 2017 but they didn’t add the stationary interest. I opened a case with revolver this week asking for the stat interest and have been awarded nearly £900 would that be to the date they paid me or up to the date this week?
Sara (Debt Camel) says
I think you should ask them.
My instinct says that you should get the stat interest on your refund up to 2017 and then you should get stat interest not on the whole refund but just on the stat interest part since 2017. So that wouldn’t be a very large amount extra.
J S says
Hi Sara. I have chased up the adjudicator regarding the 2 Amigo Loans I had and he has come back advising he’s waiting on some information from them regarding the 1st loan before he gives his opinion on the case.
Now, Amigo had already conceded that the 1st loan was unaffordable and offered to refund this on the proviso that tge 2nd loan wasn’t looked at. I rejected this and said I wanted FOS to look at 2nd loan too.
If the 1st loan was already accepted as being unaffordable, do you know why the adjudicator would want information on this? Thanks.
Sara (Debt Camel) says
At a guess it is evidence of your financial position?
JR says
Do you know if Amigo take responsibility for FLM quick loans? Amigo took over FLM and are part of the Richmond Group?
Sara (Debt Camel) says
yes, but questions best asked on the guarantor page: https://debtcamel.co.uk/how-to-complain-guarantor-loan/
Dale says
Hi I received a refund off mr lender in may 2019, I accepted their offer but this was without statutory interest added. I questioned them on this after and they said they didn’t have to pay it because the offer I accepted was what it was. Is it too late to go to FOS about this now?
Sara (Debt Camel) says
I suggest you say either they pay you the statutory interest or you are sending the complaint to FOS.
Dale says
Even after 18 months down the line I would still have a case with FOS? I have already said that to mr lender and they flat out refused to pay it.
Sara (Debt Camel) says
Worth a try? How were you to know they should have added statutory interest if the lender didn’t tell you?
B says
I personally would raise this as an additional complaint and then at that stage, the FOS cannot refuse to look at it due to timings as it’s in theory, a separate issue to your affordability complaint
B says
I’ve finally had my complaint uphelp against Satsuma. I can honestly say they have been a mixture of great and terrible. Whilst looking at my complaint orginally they were great! I had a response within 3 weeks and after spotting some errors in their reply (against my income and outgoings) they agreed to look at it again. from that point forward they were a nightmare. They didn’t uphold the complaint despite it being a clear cut case of irresponsible lending (back to back loans, countless loans on credit file already, more than 30% of my income repaying them every month before other creditors which made up an additional 60%). They missed every deadline given to them by the FOS so I took Sara’s advise and contacted the FCA, i got a response from satsuma less than 24 hours later after outright ignoring my other 10 emails chasing them for the info.
As for the FOS, whilst it’s frustrating at times that they are not more forceful with business, I definately struck gold with my adjudicator who called me at 7pm (yes he was still working at 7pm!) to tell me he had upheld my case and spent a further 20 minutes on the phone to me telling me why he couldn’t uphold the first set of loans, which i agree with.
Now to its a waiting game to see if Satsuma agree and action his findings! Good luck all and thank you Sara
Jane Y says
Hi All
I’ve received an email from Cash Euronet re my claim against Quick Quid, Poundstopocket and Onstride partially agreeing to my complaint. They came back with one email and I’m assuming it’s for all 3 companies though the email is headed up “Quick Quid”
Just wondered if anyone else had received one.
Thanks
Jane
Sara (Debt Camel) says
see https://debtcamel.co.uk/quickquid-casheuronet-administration/ where people are talking in the comments
Emma Versen says
Hi Jane. I also got this. As I still had an outstanding loan with them that was wiped immediately, now I’m just waiting to see if I get any redress. Slowly slowly!
Dale says
Hi Sara I have just had my claim against a claims management company rejected by the FOS they have agreed that a 36% deduction from a 3k claim for sending a few emails is valid. Do you know of many people who win these cases? I was very naive and didn’t know how or even if I could complain to payday loan lenders at the start before I found this brilliant website so unfortunately like many before and many after I have been stung by these leaches. The fees apparently weren’t hidden although their actually website has no affiliation to their registered or trading name. Should I appeal or should I accept and move on?
Sara (Debt Camel) says
The fees apparently weren’t hidden although their actually website has no affiliation to their registered or trading name.
can you say some more about this?
were you not told what the fees were before you signed?
Dale says
I signed up off the back of a Twitter ad which took me straight to a page that filled out my details rather than a homepage littered with information containing their fees. The FOS have claimed their website is clear with their fees but it’s not, their website name is not their trading name or their registered name, if you were to google the company you wouldn’t find their website. They send the initial email but obviously during this period of time I became knowledgable I could complain myself so I decided to take the case on myself with the lender but they still demanded their fees (£1,000) when I won a (£3,000) case.
Sara (Debt Camel) says
Then I suggest you ask for this to go to an Ombudsman to be looked at. set out why you disagree with the adjudicator decision in writing and ask for this to go to the ombudsman.
Wes says
What seems to be the rough/average time scale of receiving an answer from the point where an adjudicator picks up your complaint?
Mike_p says
Mine have all been around a month.
Wes says
Cheers mate. An adjudicator picked mine up end of October/beginning November so hopefully hear back soon.