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?
mart says
hi Sara
thankyou for all the fab work and info.
Do u have any details on uncle buck having gone into administration and and refunding anyone
Sara (Debt Camel) says
Looking at the last administrator’s progress report (find it here dated 5 November https://find-and-update.company-information.service.gov.uk/company/OC356091/filing-history) it is bad news. There will only be £600,000 to be divided between all the unsecured creditors – which includes people owed refunds for affordabilty complaints – and because there are likely to be so many, the costs of the distribution may mean that people are not paid anything.
Are you currently making any payments to them?
Danielle says
I am in the middle of DRO this is for many other debts how would this apply for me.
Sara (Debt Camel) says
Can you give some details?
When will your DRO year end?
Do you want a refund for debts that included in your DRo or which you have repaid, or both?
Can you say who the lenders are?
Lynne Goddard says
Hi there, would anyone have an address or email for Wonga, I received a refund of just over £10000 in 2016. I know I paid tax but do not have the information. I have tried to contact Wonga but had no reply.
Thanks
Lynne
Sara (Debt Camel) says
Administration has now ended and the company is being dissolved. I don’t think there is anyone left who will be able to go back and find your records.
Tom says
Hi all,
I raised a dispute with MYJAR as they had not removed a negative marker as previously agreed and they have come back to me with the following information via email:
‘We can confirm that MYJAR has taken the decision to remove its entries from credit files, however, this may be a benefit for most of our customers due to your credit file no longer showing any information regarding your loan with MYJAR.’
Might be worth you all checking your credit files over next few weeks to see if this change takes effect. I’ll update with further information should I receive it.
Thanks,
Tom
Cazza says
Does anyone have any experience on the Speed of Satsuma payments ?
RS says
If they have said they are sending you a cheque these are getting raised weekly on Thursday’s at present.
Nelly says
Hi Sara, I had 4 different loans with myJar. They requested bank statements and payslips , which I responded to them and said: My bank statements are personal, I will send them to the Ombudsman if they are needed. Payslips are not required for an affordability complaint, and the Ombudsman also do not require them.
They have responded: Please note that you are not obliged to provide any additional documentation in support of your complaint, however if you choose not to, we will consider the information MYJAR has on file from the time of your loan(s) application.
If I do send them the bank statements, how many do I need to send?
Thank you for your help
Sara (Debt Camel) says
The best thing is to send bank statements for 3 month before and 3 months after each of the loans dates.
Jessica says
Hello,
I put a complaint it to vanquis for upping my credit limit from £250 to £1000 they rejected the claim and then I forwarded to FOS. The last time I got an email from them was 04/08. Do you think it’s worth replying to the email for an update? Never had a case go to FOS so unsure what to do.
Sara (Debt Camel) says
yes I think it’s worth asking what is happening.
Mark says
So now the latest email from Sunny says we could receive less than 1p in the £. How corrupt can these pay day loan companies be.
Holly D says
Along with many others, I have been waiting for months for Provident to complete the sending of my case file to the FOS, to allow them to adjudicate on my affordability complaint. I have brought the matter to the attention of the FCA (copied to Iveson and Sweeney of Provident), to no avail. Is there anything we can do to stop this outrage?
Nick says
Hi Sara,
Thanks to you and your website I’ve managed to get back a lot from irresponsible lending over the years now, your help is very much appreciated! One case in particular though, I have been one of the people contacted by Mr Lender regarding their historic lending from April 2014 onward. I have in the past complained about affordability to Mr Lender regarding one loan I had with them in August 2014 (the same loan they have e-mailed to say they are looking at) and received a redress amount, so in this case I don’t expect anything further.
However, it is the 5 loans I had with them prior to this that I am interested in now as the rollover option had been excised frequently with them and I believe I have a valid claim for redress. My question is, will another complaint be accepted by Mr Lender having complained to them before? I did specifically make mention in this initial complaint that my claim was only against the August 2014 loan – so i’d like to think it would be worth throwing one in for the earlier ones?!
Sara (Debt Camel) says
I suggest you send them a new complaint about the earlier loans now. If they reject it because it is too old or because you made a complaint before, send it to the ombudsman to look at.
Nick M says
Hi Sara,
Following on from the above – Mr Lender did indeed reject my complaint as I had made one before. I sent my complaint onto the ombudsman as suggested and they have responsed with the following
Your complaint about Mr Lender
Thanks for getting in touch about your complaint.
From what we’ve seen so far, it looks like you contacted us more than six months after the date the business sent you their final response.
Outside this time limit, we can generally only help if the business agrees that we can get involved.
what happens next
We might still be able to help if there were exceptional circumstances that meant you didn’t contact us within six months.
So please let us know your reasons for the delay as soon as possible – including any information that supports what you’re saying.
Aside from as I originally said that my first complaint did not consider these older loans I can’t say I have any exceptional circumstances to provide them with – any suggestions on how I should proceed?
Sara (Debt Camel) says
You could repeat what you said clearly – that your first complaint was only about a single loan so you current complaint is an entirely new one.
Did you send FOS a copy of the previous complaint and Mr L’s response? That should back up what you are saying.
if they still refuse, ask for it to be looked at by an Ombudsdman.
Jake says
Hi all.
I’m looking to complain to several lenders in the coming weeks, however I no longer have a bank account with the bank that I used for the loans. I’ve not been with them for many years now. Will lenders or FOS not look at my cases without them?
Sara (Debt Camel) says
Who are the lenders? How long ago are the loans? How many of them did you have from each lender?
LJ says
SafetyNet are definitely worth complaining to, just got a £4k payout from them in around 6 weeks.
Rob Gore says
Thanks LJ and well done.. nice pay out..
Wes says
I complained to mr lender back last year, at the time I was in a really bad way. Accepted to have interest removed from the last loan that was outstanding. I wasn’t thinking straight didn’t really know about being able to send complaints further. Just seen the £££ and grabbed it.
After hearing about people having emails from mr lender, I decided to email them to see if they’d reopen my complaint but they refused?
Is this a dead end for this now? And would that be the same for other lenders?
Sara (Debt Camel) says
If you accepted an offer, you can’t get this reopened.
Have you complained to other lenders?
Wes says
Ye I’ve complained to others, never had any luck with a few of them like cashasap etc. Didn’t send to FOS mainly because I didn’t know about the service.
Sara (Debt Camel) says
well you are probably outside of the 6 months timescale. The rejection email from the lender should have told you that you have the right to send a complaint to FOS and told you the timescale.
What is your current financial situation like?
Wes says
Ye at the time I was in a bad way so was just not thinking about it all just seen doom and gloom. My financial situation is so much better now and things are positive. So not a massive issue. Just would have been nice to have had money back as I still believe said loans were unaffordable.
Annoying parts of not fully understanding the FOS etc is a couple of lenders, like wonga rejected. Then when then administrators came in they said I had been irresponsibly lent to. Obviously then only receiving a portion of a big redress.
Carol H says
Hi, I have just had an email from cash float saying they aren’t upholding my claim as I payed on time and had an affordable income but as an offer of goodwill they would give me a one off payment of £500. Would it be worth taking this further or to accept the payment
Sara (Debt Camel) says
Do you know how much you have borrowed from them and how much interest you have paid?
Carol H says
July 15 £200 over 1 mth £233
Aug 15 £250 over 1 mth £296
Sept 15 £450 over 3 mth £632
Dec 15 £200 over 2 mth £246
Feb 16 £250 over 2 mth £335
May 16 £400 over 2 mth £543
Jul 16 £500 over 3 mth £758
Oct 16 £500 over 3 mth £745
Jan 17 £500 over 4 mth £797
Mar 17 £600 over 4 mth £966
Aug 18 £400 over 3 mth £595
Thanks
Sara (Debt Camel) says
so the last loan was after a gap of more than a year?
Carol H says
yes the last one was a year later. This is what the email said about that loan.
Your most recent loan with Western Circle, for £400, was approved on 31st August 2017. At the date of the application, your previous good payment history with the company was considered by the underwriters, although the application was also subjected to a full affordability and creditworthiness assessment as stated above. The results of the assessment were positive, indicating that you could well afford to make the agreed repayments on the loan from Western Circle, without jeopardising your priority living expenses.
I should also add, I’ve already had payouts from safteynet, peachy and myjar already for this same period of time. All thanks to this brilliant page!
I did get the review email from Mrlender which came back saying no further action from them, so I have put in a comaint to them also now.
Carol
Carol H says
Oh my goodness sorry for the confusion the last loan was Aug 2017 so no not a year later, my mind has been boggled with numbers today.
Sara (Debt Camel) says
ok in that case you have paid about £1600 in interest with no signficant breaks between the loans. If you send this to the Ombudsman, you may well get a refund from loan 6, which would be £1200 plus a few hunderd in 8% interest added.
£500 isn’t the worst offer i have seen but you could get a lot more. One thing you could do is goi back to them with these numbers and say you are prepared to compromise on an offer of £800 (or whatever you think would be acceptable – it’s your choice).
Carol H says
Thank you for your advice, I am going to take it to the ombudsman, I want more than anything for them to admit their responsibility for giving me the unaffordable loans at the time. I admit my part in it and although I was grateful each and everytime I was accepted for a loan, in reality they should have been saying no. All I was doing was paying off other loans in a horrible cycle of debt which they were a major part of. Also the fact they are offering me £500 as a goodwill gesture surely shows in some respects they know they were in the wrong or why offer me anything.
Thanks again and I will update as and when I hear anything. How long does complaints to the ombudsman take, do you know or have a rough idea?
Carol H says
Could I also check, do I need to let cash float know I’m going to the ombudsman?
Sara (Debt Camel) says
No you don’t have to. But I would suggest you tell them £500 is inadequate for all the stress their unaffordable lending caused you so you are sending the case to FOS.
Mike_p says
Mine have been around 2 months to be picked up and then another month for the decision. The lender then has to respond and pay out if the accept the decision, that depends on the lender and took 10 days for MyJar but Lending Stream dragged it out for two months.
Carol H says
Thank you both for your advice.
On a separate note I should have had my redress yesterday from Myjar by 5pm but it never arrived. I got the email below, I’m hoping it’s just as they say an error, has anyone ever had this?
We are contacting you to advise that due to an issue within our finance department, we have been unable to issue your redress payment as originally intended, for this we would like to offer our sincere apologies for any inconvenience caused by this delay.
We are working with our finance department to get this issue resolved so soon as possible.
We appreciate your patience at this time.
Carol H says
I informed cashfloat I wasn’t happy with the £500 and have taken this to the FOS they asked for further details yesterday which I sent, I have today had this reply, being so close to Christmas it is tempting.. Not sure what to do now.
Thank you for your email and for providing further evidence.
Your comments have been noted and in order to bring this matter to a swift resolution, we would like to revise our offer of goodwill, without prejudice.
We will refund you with a sum of £843.12 as a one-off payment.
This amount is equivalent to the interest charged on your final 3 loans.
We will also contact the credit reference agencies we report to and remove any adverse information in relation to your final three loans.
Carol H says
I went back again on the £800 offer as I’d already gone to the FOS, I thought I’d have nothing to lose. I just got this email, which I have accepted, although they still haven’t accepted irresponsible lending, the FOS had informed me there is curre3a 4 month wait to be given to a caseworker, so accepted to finalise it once and for all
Thank you for your email, please accept our apologies for the delay in replying, as this matter was referred to a senior member of staff.
I can confirm that all of your loans were taken into consideration as part of our investigation. Statutory interest is not included in the offer as we do not agree with your complaint and this offer is a gesture of goodwill, without prejudice.
However, we will accept your offer of compromise and refund the interest on your final 6 loans, this is a total amount of £1491.36. A copy of the calculation is attached for you.
I can also confirm that we will honour our offer to contact the credit reference agencies we report to and remove any adverse information in relation to your final six loans.
Sara (Debt Camel) says
Good compromise.
Onolara says
Hi
Two questions has anyone had any luck with Credit Unions – I had two loans (both resulted in defaults) and payday loans with them ?
Am I able to complain about the loans and the payday at the period I had other payday loans as well
Sara (Debt Camel) says
A few successes but not many people have tried. Use the template for large loans here https://debtcamel.co.uk/refunds-large-high-cost-loans/
Omolara says
Hi Sara
Would you know the email address to write the complaint letter to – ( London Mutual Credit Union) – it is not listed anywhere – thanks
Sara (Debt Camel) says
See https://creditunion.co.uk/contact-us/. So Feedback and put COMPLAINT in the subject line
Tom says
Hi all,
Does anyone have any knowledge of MYJAR struggling? They have decided to remove all records of loans from my credit file and I can see that they are also being difficult on payouts with a couple of customers on this forum, saying they ‘have a problem with their finance department’.
Thanks,
Tom
Sara (Debt Camel) says
They aren’t lending at the moment, but a lot of high cost lenders aren’t.
Carol H’s comment today is the first one I remember saying they have payment problems? I wouldn’t read too much into that, it could just be some glitch.
Carol H says
I emailed back to Myjar this morning after not receiving their refund asking if I would still be receiving this. I’ve just had this reply so I’m hoping your right and it is just a glitch
Thank you for your email.
We would like to reiterate our apology regarding the payment issues that have led to you not receiving your payment on the date you were originally advised.
Please be assured we are trying to get the payments out as quickly as possible and are in constant contact with our finance team to ensure this.
Should you have any further questions or concerns, please do not hesitate to get in contact with us.
Kind regards,
Carol H says
Still no payment from Myjar, I have just received this email…
We would like to reiterate our apology regarding the payment issues that have led to you not receiving your payment on the date you were originally advised.
Unfortunately there has been an unforeseen delay with your payment, we are working to resolve this and will have an update for you no later than 5pm on Friday 18/12/2020.
We apologise for this delay and any inconvenience this may cause you.
Kind regards,
Mrs B says
I had my complaint upheld by MY JAR and received email stating redress would be made on the 10th and I didn’t received it. I have since received a further 2 emails identical to the ones sent to yourself. Just waiting to see what happens on the 18th!!
Carol H says
Have you had anything further Mrs B? Heard nothing at all from them yet, cutting it fine with 2 hrs to go..
Carol H says
So waited till the 18th and still no payment, just received this email, beginning to think we aren’t going to receive anything..
.
Thank you for your email and your patience at this time.
We would like to reiterate our apologies for the delay and to advise that we are still working with the finance department to resolve the payment.
Please note we expect an update on Monday 21st December 2020 at which point we will communicate with you further.
Should you have any further questions or concerns, please do not hesitate to get in contact with us.
Kind regards,
Mrs B says
Hi Carol H, I received the same email today. I’m beginning to think they will just keep pushing the date day by day. I’m going to just wait and see but I’m not counting on anything. I received the same email today with regards to the 21st!
Mrs B says
Hi carol H, did you receive any update from My Jar today? I have yet to receive an update via email and I cannot get through on any of their telephone numbers today.
Carol H says
Hi, no still nothing not even an email, I’ve read a few more people have put reviews on trust pilot saying the same as this. Not looking good.
Bethany Clayton says
Hi ,
I have been offered a refund from safety net credit. This includes the statutory offer.
My question is if I accept this payment do I still have to pay the orginal payment back minus the refund ? Of does the whole debt get wiped and they offer a refund on top of that. It isn’t clear in the letter it just says that if I don’t respond I will still be liable to pay the original £949
Sara (Debt Camel) says
You need to be very clear what they are offering. Can you copy the relevant bits out here?
How long did you borrow from them and do you know how much interest you have paid?
Bethany Clayton says
Statutory 8% interest – £202
HMRC 20% -£40.46
Refund – £473
All entries under safety net will be removed from your credit file when we next report to credit agencies
The outstanding balance is 959.
The Email later goes on to say if I don’t email back with correspondence and accept the offer the I will be liable for the full amount again.
I’m not clear on how much interest I have paid, but due to the complaint I haven’t made a payment to them for a long while.
Thanks in advance !
Sara (Debt Camel) says
That isn’t clear, is it…
I suggest you go back to them and ask if they are paying you that refund in cash and clearing the balance outstanding.
Also ask them for details of how much you have borrowed from them and how much you have paid because you need this information to consider their offer.
Ossie says
I just got my final response from SN and they have fully upheld it :)
I didn’t own then anything and fully repaid all loans in the redress letter the top two sections where they calculated the refunded had principal outstanding as zero and interest outstanding as zero
I would assume the refund is the actual money they are offering to pay you minus all reductions including hmrc 20%
I’m surprised they didn’t make it clear mine was.
James says
Hi Sara,
I put in a claim a few months ago to cashasap for just a single loan I had with them. They have come back advising they cannot uphold my complaint but in order to close the case can agree to make a payment of around £90 which is around 50% of the interest and charges that I paid for the single loan I had with them. Considering this is just for a single loan I had with them would you recommend accepting or sending this to FOS.
Sara (Debt Camel) says
It’s hard to win a one loan complaint unless the loan was very large. Do you think it’s an OK compromise?
James says
I guess it is as I wasn’t really expecting anything for this single loan.
Pee says
Some of my debts are now with debt management companies having been sold to them by the origional lender.
The amounts that I now pay are minimal and affordable.
Is there any way I can offer them a chunk of cash and call the debt clear. Make them an offer. Has anyone done this at all? And saved money over the long term??
If so how did you do it?
I helped loads of people out on here. I need some advice now. Can anyone help at all??
Sara (Debt Camel) says
what sort of debts were these? how long ago did you default?
Pee says
118118 money in the main.
Owe 118118 money about £2500.
It already been to ombudsman but as didn’t have many loans with 118118 money lost case. Paying £50 per month.
Sara (Debt Camel) says
has it been sold to a debt collector?
Pee says
Yes it has been sold and is with Moorcroft.
Sara (Debt Camel) says
Debt purchasers are usually more likely to accept a settlement offer than the original lender.
See https://debtcamel.co.uk/debt-options/less-common/full-final/
Pee says
Nice one. I’ll give it a read. Check out my options. Thanks
pie says
Hi Sara thanks to you and to this website for a massive help on all my successful claims from payday loans i still have a couple of pending claim and one of them ( kabayan finance )just sent their final response :t:
” There appears to be a misunderstanding of our underwriting process and we are surprised and disappointed that you have raised what we consider to be a wholly unjustified complaint.”
Loan details
1. 7 July 2012 paid on 30 /08/ 2012 £ 300 + interest
2. 13/9 /2012 rollover until – 29/11/2012 £ 500 (£100 monthly interest )
3. 30/11/2012 rollover until – 28/01/2013 £ 500
4. 18/03/2013 rollover until – 26/09/13 £ 500
then introduced to new short loan payment plan for 6 months
31st Oct 2013 until 27 March 2014 at £ 125 /month
5. 1/4/1014 £ 700 @ 109.51 x 8 mos
6. 27/1/2015 £ 800 @ 127.67 x 8 mos
8. 02/12 /2015 £ 800 @ 127.67 x 8 mos
9. 3/11/2016 £ 800 @ 127.67 x 8 mos
10. 30/10/2017 £800 @127.67 x 8mos
11. 19/10/2018 £800 @ 127.67 x 8mos
Can i escalate my complaint to ombudsman now? what would be my chance giving these circumstances.?
Any advised is greatly appreciated.
Thank you xx
Sara (Debt Camel) says
Did they say you had the right to take your complaint to the Financial Ombudsman?
pie says
Yes Sara x
Sara (Debt Camel) says
ok then send it to the Ombudsman. You had a lot of loans, this is worth doing.
Mr A says
Hi,
I have an ongoing case with Moneyboat at the moment… i’ve gone to the ombudsman and it has gone through both processes and unfortunately not been upheld
”But, in saying this, Mr A hasn’t provided this service with any information about his financial position at the time, such as bank statements. And as I’ve mentioned above, Mr A’s credit file doesn’t show anything that ought to have caused MoneyBoat any concerns. So, without any further information, I can only conclude that while MoneyBoat’s checks didn’t go far enough, I can’t say an error has been made as I don’t know whether it would have thought the loan was affordable for Mr A. Therefore, I can’t say MoneyBoat was wrong to have provided Mr A with loan 3.”
During the complaint process, the ombudsman sent a generic email asking me for all information, I replied, asking the ombudsman whether bank statements could alter the outcome of my case long before they made their decision, i never received a response.
due to the statements being personal, i never wanted to supply the documents but if it was likely to be the difference, i would do so.
The conclusion above suggests that bank statements would of made the difference in the outcome but now the FOS will not review my case again, i’ve asked for a manager to look at it and have advised i want to complain but i cannot get anywhere at all, the decision is final and no one will listen to me now.
Moneyboat now think they have won the battle and are stepping up their efforts to collect money from me..
What options do i have?
Sara (Debt Camel) says
I always suggest people should send bank statements when they send a case to the ombudsman.
Did the adjudicator decision not comment on the fact they had no information from you?
What is the rest of your financial situation like – do you have other problem debts?
MR A says
The Adjudicator decision gave me chance to ”provide more information”, i did provide more info and comments but there was never a mention of sending bank statements.
I do have other debts yes, at the time of taking out the loans in 2019, my debt on my credit file was a lot higher than it is now.
I also have a history of defaulting on high cost loans over the last 6 years, some of it gradually being removed from my file, thank god.
I had debts with Amigo(Since won a case with them and received a refund)
I had a defaulted loan with Moneyshop, this seems to of been removed from my credit file now…
I had a defaulted loan with Myjar, which is still unpaid and in dispute.
In between loans with Moneyboat, i was borrowing from Fernovo and Quidmarket, Quidmarket subsequently settled to a reduced deal.
Basically, i ”only” had 3 loans in 6 months, 200, 400 , 850. Loans 2 and 3 were within days of me paying the previous loan off and i borrowed double the amount each time
”Our website sets out what we typically think about when deciding whether a lender’s checks were proportionate. Generally, we think it’s reasonable for a lender’s checks to be less thorough – in terms of how much information it gathers and what it does to verify that information – in the early stages of a lending relationship”
MR A says
This was despite my poor credit history and despite the fact Moneyboat had actually rejected previously applications from me because i refused to send bank statements.
I am always reluctant to send bank statements and i have advised to moneyboat of this, i can be a problem gambler at times and have utilised high cost short term debt to go on gambling spurts, for years.
The FOS point blank won’t relook at my case now, so i am a little stuck..
I have offered moneyboat access to my bank statements at this point but they do not seem bothered, they think they have won the battle now.
Sara (Debt Camel) says
Well if the Myjar case goes to the ombudsman, make sure you send bank statements! They support your case. Especially when this is only a small number of loans it’s important to show that they were unaffordable for you and bank statements are the best way.
Of course MB don’t want to see the statements now, I am afraid you have lost this complaint. I suggest you ask them for an affordable payment arrangement.
MR A says
If it goes to court, then what happens?
The ombudsman clearly suspect irresponsible lending but couldn’t prove it without my bank statements and now won’t listen…
Sara (Debt Camel) says
I don’t know of any case which has been won in court when you lost at the ombudsman. If you want to sue them, I think you need to talk take professional advice from a solicitor familiar with this area.
A three loan case is never easy to win.
Hannah says
Hi,
I am looking for some advice please. I made a complaint to marbles about unaffordable lending. They took longer than 12 weeks for an outcome and didn’t up hold my complaint. Several times i had gone over my limit and they had continued to up my credit limit. The only thing they refunded me for was late payment charges out of ‘good will’ They further closed my account which I am fine about.
My complaint is currently with the FOS but what I am asking is that my credit Rating has significantly nose dived from putting this complaint in via marbles. My credit score has gone from high fair (almost good) to poor and dropped over 100 points since I raised this complaint with Marbles. This is obviously upsetting as I have worked hard to rebuild my score through the past years. Marbles said they can’t give me any information on what was given. How can i proceed with this? I haven’t missed one payment since this complaint has been ongoing and have never defaulted on my card. Thank you
Sara (Debt Camel) says
How large is the balance?
And do you have other problem debts too?
Hannah says
My balance is currently 2.7k with a balance of 3.5k and in total my credit card debt is 10k. I have never missed a payment though to any credit cards and it is only since I raised a complaint with marbles has my credit score dropped. I noticed on my credit report they have a q on my file.
Is this worth raising against my FOS case? I contacted marbles directly and they said they could not give me any information and to contact equilfax directly. Clear score have put marbles account status updated against my current report.
It is down 73 points alone this month. Thanks for your help
Sara (Debt Camel) says
Q is used when an account is in dispute. It shouldn’t result in a lower credit score though. Tell FOS.
Hannah says
Ok will do. Thanks Sara. Would the fact they closed down my account have an adverse affect on my score?
As marbles have closed my account would it be misguided to raise a complaint with marbles? Just am aware the waiting times with FOS are currently months and I don’t want this to be unresolved for a long period of time. Is there a way to get a case prioritised with FOS? Thank you
Sara (Debt Camel) says
It’s not clear to me what has happened. I don’t recall anyone else mentioning this as an issue.
The right thing to do is to add to the current FOS case, not start a new complaint which would delay and complicate things.
FOS will prioritise some cases, it says “If you’re facing financial hardship or severe ill health and feel your complaint needs to be dealt with urgently, please let us know when you send us your complaint – or update your case handler direct.”
Joanna says
Hi, I’ve received an email from SafetyNet credit saying they are closing my account and writing off my balance of £645.34(I haven’t made a complaint but was planning to)just needs some advice on whether I should complain still or just cut my losses, a few times they took all my money and I had to reborrow large amounts (in the hundreds) and a couple of times I had got a loan from another company (to pay bills)and they took it all.I’ve been through all my statements,
Since sept 2018 I’ve:-
Borrowed £2,219.30
Repaid £2,350.61(505.31 interest)
Total interest added £646.09
I’ve been on a payment holiday since may2020
Some of this borrowing wouldn’t have happened if they hadn’t taken all my money, also I was constantly over my 480 limit but would always let me reborrow.
Sara (Debt Camel) says
Interesting that SNC (who have been attracting criticism in the press recently, see https://www.thesun.co.uk/money/13389794/payday-lender-3271-to-settle-200-loan/) are wiping your balance with you having complained.
How did you calculate “Total interest added £646.09” ?
And do you have any defaults or missed payments showing on your credit record?
Joanna says
It is strange but by the looks of it they’ve been keep many people in revolving debt.
I have both defaults and missed payments on my file, they did state in the email it would show as partial payment on my file.
At the end of the email they put you don’t need to do anything we will action this in a weeks time(tomorrow)
I worked out the interest from my statements on their account it had monthly breakdowns of borrowed amounts, payments, interest of these payments, and interest added.
Sara (Debt Camel) says
OK so one option is to go back and say you are happy if they clear the balance but you also want the negative marks removed from your credit record.
Or to say that you would like a full refund of all the interest you have paid as it has been unaffordable, plus negative marks removed from your credit record, ask them for the details and say the case goes to the Ombudsman if they refuse.
Ossiee says
I would 100% make an affordability complaint against them
I heard back from them today they fully upheld my complaint, I’ve been borrowing from 2016 to 2019, in jan 2017 I asked them to reduce my credit limit to £200 but they continued to lend way over that amount to me and I stupidly kept borrowing.
My complaint was only for loans from jan 2017 onwards however they have refunded me all the interest on all borrowing from 2016 , with the 8% statutory interest that’s. Refund of £5,500.
The redress letter didn’t push back on any of my complaint seems like they just wanted to settle the matter.
Chris says
I opened a resolver case against Safetynet and they responded within 2 weeks and accepted my claim in full, so I will now receive a refund of £900 which is fantastic especially at this time of year. Accepted the offer last week anyone any idea how long they take to settle?
I would say if they have only offered to settle your balance and you had multiple loans to ask for redress on previous loans as may leave you with a refund amount as well?
I would say they have handled my complaint promptly so far unlike Cashfloat who have refused my claim so now off to the ombudsman.
Dave R says
Hi mate, they fully upheld my case and I accepted the settlement offer on the same day they confirmed the decision – was told 14 working days to be paid, then I was emailed to say they would try and pay this a week later by close of business that day – and they did exactly that. So 1 week in total from Friday – Friday.
Chris says
Thanks that’s great.
Ossiee says
My letter said within 10 working days… was it not mentioned on yours ?
Caroline says
Has anybody had any dealings with Cashfloat?? They seem to just dismiss anything you send them.
Sara (Debt Camel) says
Send the complaint to the Finacial Ombudsman.
Caroline says
I still have outstanding debt with them. Should I set up a payment plan??
Had 3 loans over short space of time, their reply is basically that I could afford to pay back.
Sara (Debt Camel) says
How large were each of the loans? how much have you paid to the last one so far?
Caroline says
Each loan was for £500. It 2 loans paid off, 2nd one early. Outstanding loan I have paid £100 towards last loan, but they say balance still £700. They are not willing to reduce interest, but will freeze for 30 days to allow me to set up a payment plan.
Thanks
Sara (Debt Camel) says
so you could go back to them and say if they don’t agree to reduce the balance to £400 (what you borrowed less what you have paid) and remove the negative markers on your credit record, you will be sending the case to FOS.
This is offering a compromise. You could possibly get more from going to FOS if FOS says loan 2 or loans 1&2 should be refunded. But it’s all settled quickly.
Caroline says
Okay thank you for your help. I have another loan with loans2go. It was for £1000, I have paid back £450. They have offered to write off 75% of the interest, meaning I still have £1375 to pay. This still seems high however on the other hand it is a good offer. Any advice?? They are willing to have payment plan and freeze interest.
Sara (Debt Camel) says
if it goes to the Ombudsman and you win the complaint – and a LOT of these L2G complaints are being won! – then all the interest would be removed so you would only have to repay £550.
A lender HAS to give you a payment plan if you can’t afford the repayments, they aren’t doing you a favour by offering theat.
Apart from these two loans, how many other debts do you have? Do you have any priority debts – rent, council tax, utilities?
Caroline says
I have another 2 payday loans outstanding, trying to negotiate with them at the moment. I am behind on my rent but as its family member due the money the payday loan companies seem to dismiss that. I have told all the debtors that I am suffering from depression and a gambling addiction. Some have been good, but others don’t care.
Sara (Debt Camel) says
Talk to StepChange about a DMP, see https://www.stepchange.org/how-we-help/debt-management-plan.aspx
They will work out what you can afford and divide that up between your creditors. And you can then take any affordability complaints to the Ombudsman, knowing it doesn’t matter if they take a while because your finances are safe and you don’t need to borrow again.
Caroline says
Okay I am already in talks with them. Thanks for your help.
Do you suggest I don’t accept the decisions of the loans i have mentioned?
Sara (Debt Camel) says
Good move, a DMP will make the time for FOS complaint much easier. Winning a complaint at FOS can then dramatiaclly speed up the DMP , and of course any negative marks on your credit record would be deleted.
Are you getting help with your gambling problem?
I think the Cash Float and L2G offers should go to FOS unless you can get them to improve them.
Tom says
I had quite a few loans with CashFloat and they were one of the first people I dealt with when going through the complaints process.
They offered me £150 to go away and I bit their hand off for it, as I wasn’t aware of how these things work etc. In hindsight, I most certainly should have rejected it and taken the case to the FOS. If you can persevere, it’s definitely worth doing, albeit not at all a quick process!
AT says
I was given a loan by safetynet which I couldn’t afford to pay back. I put in a compliant which they upheld saying the loan was unaffordable but still want me to pay the principal back. Is this fair? Its frustrating as the money at the time simply went to interest on other debts.
Chris says
I suspect that’s the best you will get. Was it just one loan you had with them? As they should look at all loans and return the interest plus add I teret for time period in most cases this will clear any outstanding principal plus refund any additional excess to you.
AT says
Thanks for the reply Chris it was just the one yeah so not a whole much of interest, there’s not a large amount anyway and it’s the very last loan unresolved so I’m just going to pay it off and close the book on that chapter of my life finally
Justin says
Has anyone else had an email from Peachy? They’ve said my claim was successful and I’ll be getting less than 2% redress of the claim, what’s the actual point of this?
Sara (Debt Camel) says
You will get the negative marks – or possibly the whole loans – removed from your credit record. Also anyone who owes a balance will have that offset in full.
Rob Gore says
SafetyNet in there full and final statement fully upheld my complaint but only offered me a 1/4 of the interest from all my loans with no reason or explanation how they had come up with that figure. I know the full amount as they sent my full list of loans a few weeks ago so I have asked how they have arrived at the low settlement.
Should I wait for there response or go to the FOS as this is there full and final offer?
Sara (Debt Camel) says
I suggest you offer to compromise at a figure you think would be acceptable, saying you will go to FOS if they don’t agree. How much interest have you paid? Over how long a period?
Rob Gore says
Over a 5 year period it was approx £4750 in interest.. They Offered £1250 plus interest.. total £1444.
I replied to there full & final offer asking for them to clarify why the offer was 25% of the total interest.. Will they reply or is this there full and final offer..
Sara (Debt Camel) says
I don’t know. But if there is an amount that you would be happy to accept, it is worth going back and saying that. If you want the lot, it’s probably going to have to go to FOS. If you would be happy with £3000 (or £4000 or £2500) tell them.
graeme says
Hi All
I have just received a redress offer from moneyboat which i wasn’t really expecting, does anyone know how long on average they take to pay out? I have had the paperwork showing they have settled my outstanding balance already within an hour of me accepting this?
Dave R says
I had mine within a week of accepting it. Do call and chase them though if you need to. I didn’t hear any response to my acceptance email after 48 hours so called them and they said it can take “5-10 working days” but then emailed me to confirm my details again and said it would be with me within 48 hours – which is was.
Alex says
Has anyone had dealings with CashASAP regarding redress?
I complained on the 26th Oct but haven’t had a final response as of yet!
Mike_p says
I have and they replied at lunchtime on the day the 8 weeks was up. I got the response on boxing day so I assume they had written it beforehand and set a delayed delivery.
D says
They normally like to deal with you directly instead of FOS. I got two offers of interest refunded back. They wouldnt delete credit file entries however. They are pretty quick replying – just use their normal complaints email.
Chris says
Good news from the adminstrators of Peachy. I am due some redress. Total will be £8.26. Yeah – let’s rejoice!!
D says
Has anyone had sucess with Drafty? Radio silence from them on their email direct address. Had to & complain via resolver / FOS in he end.
Carl says
Anyone had any luck with lending stream. Ombudsman made final decision September to pay my redress and I’m still waiting on it
Sara (Debt Camel) says
see https://debtcamel.co.uk/lending-stream-complaints/comment-page-7/#comment-389031 for my advice to someone else in that position. Make sure the email does reflect what happened in your case. And not the comments on it about email addresses,
Dave says
Anyone heard anything from Moneyshop/Payday UK?
Their email earlier this year said they hoped to pay out redress before the end of 2020.
Jo says
Hi dave
You’ll get your letter about what redress you’ll receive before end of 2020, my mum got hers (money shop)and it said payouts won’t be till atleast April 2021
M Taylor says
Would someone mind giving me some alternative email address for drafty as they have agreed to write off my debt and that was 2 months ago and frankly I’m fed up off them dragging their heels. Every day that passes is another negative day on my credit score until they delete.
Thank you!
Carl says
Can I ask why they agreed to write of your debt? Did they agree irresponsible lending? And how much did the write off please. I have a current complaint sitting in cue at FOS since 8 months for drafty as didn’t uphold complaint.
SJ says
I’m in exactly the same position. They agreed with adj. Months and months ago and it’s been radio silence since. Adj. Sent me an update saying she’s contacted them again but no reply and now she’s in leave until mid Jan!
Carol H says
Has anyone had any dealings with ferratum. I put in an affordability complaint and just had their response saying I had 3 loans oct/nov/Dec each for £500 and as there is an outstanding balance of 999.00 but they are partially upholding so willing to drop this to £500.
I have gone back asking why the other 9 loans listed below aren’t mentioned apart from the last 3
3rd Jan 17 – 200
6 Feb 17 – 300
3 Mar 17 – 400
31 Mar 17 – 400
28 Apr 17- 300
31 may 17 – 200
30 June 17 – 200
31 July 17 – 300
31 Aug 17 – 300
29 Sept 17 – 400
31 Oct 17 – 500
5 Dec 17 – 500
29 Dec 17 – 500
Sara (Debt Camel) says
Definitely go back and challenge them. Also if you are happy to compromise, say what you would be prepared to accept “in the interest of a speedy settlement, I am prepared to accept a refund on the last 6 loans”
Jay says
Hi,
I recently put in a complaint to a garantour loan company, they offered me a good will gesture of £200 and explained their reasons, their reasons was all false so I replied with my bank statements, they then apologised for their previous response and said the person dealing with it needs further training and increased their offer to £500 as a final settlement, also advised i could take the matter to the ombudsman if I wanted to but I will loose that offer.
Im in 2 minds now, I wanted a refund of all interests and charges, which adds to around £2000 excluding the 8% compensation, if I take the matter to ombudsman i might loose it all and get no money back. I don’t know what to do, can anyone please advise if they have been in a similar situation. “Please”.
Sara (Debt Camel) says
Who is the lender?
How long ago was this loan settled?
Jay says
Lender was bamboo and the account was settled back in December 2018 a year after I took the loan out.
Sara (Debt Camel) says
The Ombudsman is upholding more than 80% of guarantor loan cases, including many one cases. If you think you have a good case, then I suggest you send it to FOS.
linda says
Regarding Quick Quid I have received an email stating that “According to your account, you are ineligible for submitting a claim at this time. Because your case was already reviewed and not upheld by the Financial Ombudsman Service, you are ineligible for submitting a claim.” yet theyve accepted my partners claim that was also not upheld by the FOS.
Carol H says
Email received back any advice you can offer is appreciated.
Our final decision- partially uphold your complaint
You had a total of thirteen loans with Ferratum, with exception to the final loan all previous loans were repaid as agreed which suggests they were sustainable and we were not allerted to any financial difficulties. The final loan remains outstanding with a balance of £999.00 as we have received no payment towards this debt to date.The complaint alleges that repaying loans caused you problems and you had to borrow more money. I am unable to find any evidence of this attached to the complaint. Upon reviewing your full loan history however I can see you had a total of 13 loans. We feel that the first five loans were issued early in the lending relationship and do not show a particular reliance on our product, however from loans 6 onwards the loan amount increased up to the maximum of £500.00 that we offer for a Micro Loan. We can therefore offer to refund the interest paid on loans 6 to 12 plus 8% simple interest
You have made no payments towards the final loan and the balance is now capped at £999.00. We can offer to waive all interest from this loan and use the refund mentioned above to waive the outstanding capital and close the loan. This leaves a remaining refund of £59.79 which can be sent to you by faster payment. In addition we will remove the history of loans 6 to 13 from your credit file
Sara (Debt Camel) says
do you know how much interest you paid on loans 6-12? ie not the first 5 and tot the current one?
Carol H says
Hi
Below is the interest on the last 6 loans with dates took out the loan and dates paid back, except the last loan which isn’t paid.
6 31/05/2017 30/06/2017
£ 200.00 £ 48.00
7 30/06/2017 31/07/2017
£ 200.00 £ 49.60
8 31/07/2017 31/08/2017
£ 300.00 £ 74.40
9 31/08/2017 29/09/2017
£ 300.00 £ 69.60
10 29/09/2017 31/10/2017
£ 400.00 £ 102.40
11 31/10/2017 30/11/2017
£ 500.00 £ 120.00
12 05/12/2017 29/12/2017
£ 500.00 £ 96.00
I have also just noticed the reply says there is no evidence to support the affordability complaint, I was never asked to send anything, is it worth sending in bank statements which shows the position at the time?
Sara (Debt Camel) says
So they have offered you a full refund on loans 6-13, except they haven’t included 8% interest, which would be roughly £70
For small loans, a refund from loan 6 would not be an unusual decision from the Ombudsman. Perhaps you one get another loan included if you went to FOS, perhaps not.
It looks like a good offer to me. I don’t think they would increase it if you sent bank statements,
Up to you if you want to be bothered to send it to FOS to get a bit more back.
Carol H says
Thanks once again for your really helpful advice, I’m going to take the offer, as removing the open loan from my credit file is more than I thought would happen when I first started out on this journey. This page has been an absolute lifeline throughout all these processes and I really can’t thank you enough
Will says
Hi,
Not really sure where to post this but here goes-
I have had numerous payday loans in the past, many of which I’m sure would be deemed unaffordable.
I am not too bothered about refunds but would like as many entries removed from my credit report as possible.
Is it worth complaining to the providers and saying ‘I am willing to accept nothing in full and final settlement provided the entries are removed from my credit report’?
Thank you in advance
Sara (Debt Camel) says
I won’t say that no lender would agree but none of them should – it would be breaking the rules of credit reporting.
The simple thing is to just get normal complaints underway.
Mrs B says
Just received email from MY JAR, for anyone awaiting a redress payment they have entered into administration today 22/12/20. My email states redress payed will be considerably less and time scale cannot be given
Sara (Debt Camel) says
I am so sorry.
Carol H says
I’ve also received the same email, which I think is what we were expecting with the emails kerp changing the date, still so unfair on people just before Christmas who had been promised this payment.
Do you know though as it had already been agreed to remove the negative impacts on credit file, does this still happen?
Sara (Debt Camel) says
yes this should still happen. Unfortunately it may take some time.
Kirstie says
I accepted a claim from my jar yesterday. They referred to quite a significant figure yesterday and it said it would go into my bank within 3 weeks. What’s the chances? From past experiences with other lenders anyone?
Sara (Debt Camel) says
That would be zero, sorry. The first thing administrators do is stop all outward payments.
You now have a claim against the firm in administration but are likely to only receive a fraction, possibly small, of the amount you were quoted. And that could be more than a year away.
Kirstie says
Aww! The offer doesn’t say anything like what the few previous comments above say about redress being less. It just says full & final amount and I returned the bank details form yesterday. How do you claim the administrators
Sara (Debt Camel) says
The lender only went into administration today. I suggest you leave it until the new year and then email Myjar and ask if your offer is automatically treated as a claim in administration or if you need to complete a form.
Marcelle James says
Hi,
Thank you for this thread and all of your wuickly replies.
I took 11 pdl loans from Sunny between Sept 19 and Feb 2020.
I was told the loans would improve my credit score as I was anticipating getting a mortgage this year.
I have recently starting to do research on Habito but was told they couldnt help as I have pdl’s on my credit history.
Apart from this, I havnt missed a single payment on any credit agreement since 2012 and only took the loans to improve my credit score.
I have recently been offered a whopping £5.11 as redress from Elevate and have now since issued a complaint to Transunion stating that the loans were mis-sold and I would like them removed!
Do you know the likely hood of me being successful?
I cannot explain enough the stress this has caused and the delays this has now caused in me securing a mortgage.
Sara (Debt Camel) says
I was told the loans would improve my credit score
who told you this?
John says
The ombudsman told drafty to Treat all payments I made towards my account since 8 July 2019 as though they had been repayments of outstanding principal. Does this mean all these payments should have went straight to the debt and not the interest.
Sara (Debt Camel) says
Yes. Drafty will have to remove all the interest, so if you borrowed £1600 you only have to repay 1600
John says
Thanks for your reply. So all the interest I’ve paid from July 2019 they should be refunding is that correct. They only offered me £20 for Money I withdrew from my account in that time. Which the ombudsman also told them to do.
Sara (Debt Camel) says
That depends if there is a balance that you owe?
Add up what you borrowed. Add up what you have repaid – just the cash movement, ignore if their paperworks says it was interest or not.
John says
I borrowed £1300 and have paid back £1317 from July 2019. They have ignored my email after they offered me £20. Is there any way the ombudsman would help me out with this as they drafty have ignored a lot of emails over the last few months. Really appreciate the help with this as I was getting nowhere.
Sara (Debt Camel) says
I borrowed £1300 and have paid back £1317
That suggests you should get a refund of £17…
John says
I still have £922 outstanding after paying all that back from last July. Their interest is absolutely shocking.
Sara (Debt Camel) says
is this 922 included in the amount you borrowed?
John says
Yes I’m still paying back the money and the £900 is the money I still owe them.
Sara (Debt Camel) says
You said:
“I borrowed £1300 and have paid back £1317”
I am asking if the £922 outstanding is included in that £1300 figure?
Also are they wiping the balance and offering you £20? or just taking £20 off the balance?
John says
Yes I did borrow £1300 and from last year in July when the ombudsman told them to treat all payments towards the principal I have paid over £1300 back to them but their interest is that high I still have over £900 left to pay them. No they are only offering me £20 and I’d still owe them just under £900.
Sara (Debt Camel) says
ok then go back to your adjudicator and say they Drafty are not doing the calculation fairly.
John says
Thanks for your help
Have a great Christmas
Tom says
Hi Sara
With the news of MyJar entering administration, do you know anything about the prospects of Lending Stream, AvantCredit and Bamboo?
I have cases against each of these with the FOS who seem to have just ground to a halt. I’ve had other cases with the FOS, all of which have been dealt with successfully, but for these three, nothing at all seems to be happening. I’ve chased and they just say they can’t give me any possible timeframe for them to be looked at.
I’m particularly anxious about Lending Stream as the lending relationship I had with them was very obviously unaffordable and damaging and I expect I’ll be in line to quite a significant payout.
Sara (Debt Camel) says
Avant hasnt been lending for a couple of years but it is still going and paying out on complaints.
Bamboo is still lending. So is Lending Stream, who has recently made the big change to only approve applications through Open Banking – that will have been quite an expensive investment in their IT so you may think they are confident about their furure?
Shaun says
Hi there,
Firstly, thank you for all the advice detailed on this page.
Just a quick question. Along with the refund, will the payday loans company remove the debt from the CRA’s?
I have a current debt with Smart-pig that they have reported to Transunion. I am in the process for asking for a refund/removal of the default from my credit file.
Regards
Shaun
Sara (Debt Camel) says
how many previous debts did you have from them?
Shaun Silva says
I took out 5 loans from them (£1200 in total interest)- one of which I defaulted on. I took out all the loans whilst I had a gambling addiction- and whilst I was at university (full time study)
Since the loan was taken out in 2017, they have now sold that debt onto Westcott. Prior to reading this, I offered to pay the debt in full on the basis that they would remove the default from my credit file. They refused to do so- so the one debt is still outstanding.
Also, I noticed that clearscore haven’t picked up the default- does this mean that banks etc who do not use TransUnion do not pick up the default from smartpig?
Thanks again for all your help. This really is a great website!
Sara (Debt Camel) says
If Smartpig agree with your complaint, they should remove the interest from the balance and delete the default from the record. If they don’t, send the complaint to the Financial Ombudsman.
Shaun Silva says
Hi there,
If the debt has been sold onto another company- do I send the template email to them?
Thanks
Shaun
Sara (Debt Camel) says
No, you complain to the original lender.
ricky says
can someone assist, i am trying to get my credit score sorted, i fell into the payday loan trap a few years back but i’m getting into the clear now.
I have MMP Financial on my credit report with an outstanding balance, but they have gone into administration.
A: who do i pay?
B: how do i get the balance removed from my credit file if there is no contact?
Thanks
Ricky
AB says
My partner has also had this same distress of delayed then no redress from Myjar. This was after long delays and falsely claiming they had already paid my partner on 8th December.
It was interesting looking at their companies house record. Missing February 2019 accounts that were due November 2019 and yet still taking loans up until just before administration.
Maybe the charge agreement with their Jersey treasury company that gave that company first secured claim on the whole loan book and other assets was why they were happy to go on lending knowing they were in a hole.
Sadly, I don’t think the administrators and FCA will sort that properly as that is illegal. Surely that charge should be unwound and maybe a charge of insolvent/false trading pursued on the directors. At least then there would be a real proportion of cash for those who owed it.
Tom says
Hi Sara,
Is there anybody other than the FOS that I can complain to about Satsuma?! Such as the FCA?
I think their timescales for handling my complaint are completely unreasonable.
The background is that I had two loans both of which were in default. I complained in May, with an offer of settlement in exchange for writing off the balances and removing the defaults. (I had paid more than the principal on one, and was about £80 off having paid the principal on the other, so offered £100 to bring the matter to a close.) My offer was roundly rejected!
The FOS upheld my complaint which Satsuma accepted – and meant they owed me a refund. Despite this, their debt collectors (acting on S’s behalf – they didn’t sell the debt) go on chasing me. Both I and the FOS have asked S to tell them to stop yet still they chase.
Satsuma finally wrote to me on 8 December – despite the FOS’ findings on 2 October. In their letter, they say they need 60 working days to update my credit file.
It seems completely unreasonable to me that a firm can take what will in practice be six months (2 October to late March) to remove the defaults from my credit file given they been found to have acted improperly, and accepted the same. As you’ll appreciate, the defaults are causing me great difficulty. Coupled with the continued chasing for money I don’t owe, it’s not acceptable.
Sara (Debt Camel) says
So when did Satsuma accept the FOS decision?
And has the debt collector stopped chasing you?
Tom says
They accepted it on Nov 9th.
The debt collector was still chasing me in late December.
Sara (Debt Camel) says
I see why you are upset. But this is only 3 weeks after Satsuma accepted the decision.
If you get further contact from the debt collector in January come back here.
Lianne says
Hi,
Anyone facing issues with Satsuma Loans (Provident) my case was assigned back in April, my adjudicator has been chasing for information from Satsuma since then with no reply.
8 months later this is still going on and I am getting fed up with it.
Yes I appreciate we are facing tough times but surely there has to be a specific deadline for them to provide this information, it isn’t fair.
Adjudicator has said the central team are chasing for the information.
Thanks
Lianne
Sara (Debt Camel) says
do you know what the information they want is? I assume Satsuma have at least provided their case file?
Carol H says
Hi,
I’ve had a rejection reply from Mykredit for the 4 loans I had with them, but the email doesn’t say I have a right to take to an appeal?
Holly D says
Hi Sara,
After my affordability complaint was rejected by Satsuma, my complaint was allocated to an FOS adjudicator who, after a few months waiting received a partial case file from Satsuma. On the 15 December, the adjudicator informed me that he was ‘still waiting on vital information’ from the business and, that he was ‘working with the business to try and get the information as quickly as possible’ !!
I have lost out heavily (c £8,000 to Wonga and Sunny.) Do you know of any way to speed up this process with Satsuma,
Many thanks for any advice.
Best wishes for a safe and prosperous 2021
Holly D says
Hi Sara,
I missed out the most important part of yesterday’s post, my complaint against Satsuma was allocated to an adjudicator on 14th MARCH, nearly EIGHT MONTHS AGO, and he still does not have all the information that he requires to consider my complaint.
Holly D
Sara (Debt Camel) says
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: Satsuma (Provident – 700144) hasn’t sent FOS my case file after [x] months
Put in a few short detail about your complaint – how many loans you had, Satsuma’s rejection and the date you sent the case to FOS.
Say FOS they asked Satsuma for your case record [x] months ago but they only sent a partial file. Your adjudicator has asked for the further details but after [x] months these have still not been provided which is preventing FOS from making a decision on your case.
Say you know the FCA will not look at your individual case but you thought the FCA should know how slow Satsuma’s complaint handling.
Holly D says
Thank you Sara
Best wishes
Liz says
Has anyone had their Swift Sterling redress yet?
Lucy says
Hello,
This is great advice thank you but I’m looking for a slightly different template. I was able to borrow £6k from a lender when I was in massive financial difficulty a few years ago and had multiple loans from different companies. The above template doesn’t quite work for me and I only borrow from them once but they definitely shouldn’t have let me have the loan. There were no financial checks or even a conversation with a human, the money just appeared in my account after completing the form.
I’d really appreciate any advise you have to order, thank you!
Sara (Debt Camel) says
Use the different template over here: https://debtcamel.co.uk/refunds-large-high-cost-loans/
Hugo says
Hi Sara
I seem to recall that you have previously referenced, on these pages, a passage from the FCA Rulebook which says that lenders must communicate with borrowers in any reasonable method – ie can’t insist on the telephone.
If I’m right, could you direct me to where I will find that in the FCA Rulebook?
Thanks in advance.
Sara (Debt Camel) says
It’s not that clear for payday lenders, see https://debtcamel.co.uk/debt-collector-lender-phone-at-work/
Which lender is this and how often are they calling? Do you have any mental health problems that mean phone calls cause you anxiety?
CyrilV says
Well, my payday loan hell is over, all wiped barring £7/month to BPO on an old Sunny loan, which is no longer on my credit record and which I won’t be contesting in the near future.
But that’s by the by. Just a couple of questions regarding old loans that still show up on my credit record. I see Myjar have gone under. I was fortunate there in that I did get a refund. My last payment to them was in July 2016, and the loan shows as “paid and closed”. Now that they’re going out of business, will that be struck from my record before it’s due to disappear in July 2022, and if so, will it have any effect on my credit score?
Also I have an old Satsuma loan, again marked “paid and closed”, last payment being in March 2015. While Satsuma are still trading, of course, again what will happen to that record after March 2021 and likewise what would be the effect on my credit score?
Neither of these loans have anything owing to them by the way, they’re settled rather than “satisfied”.
Finally, let me thank you for all the good work you’ve done. Was nearly £14k in the hole and have got everything down to a much more manageable <£6k which is falling all the time.
Sara (Debt Camel) says
Now that they’re going out of business, will that be struck from my record before it’s due to disappear in July 2022,
No.
Satsuma loan, again marked “paid and closed”, last payment being in March 2015
What is the settlement date?
Neither of these loans have anything owing to them by the way, they’re settled rather than “satisfied”.
With no default recorded, the debts will drop off 6 years after the settlement date. But they don’t harm your credit score. And not even mortgage lenders are likely to care that you had very old payday loans.
CyrilV says
Settlement date of the old Satsuma loan appears to be 6th Feb 2015.
Dave R says
Hi Sara,
Couple of queries re lenders updating my credit file.
SafetyNetCredit – have fully upheld my complaint, refunded me and promised to completely remove themselves from my credit file. The account was previously on there as closed/settled and they’ve said it would take 6-8 weeks to be removed from my credit file. However, last week it appeared as an open credit line on my credit file again – with a balance of £0. I’ve queried this and they’ve said “if we’ve agreed to make any changes to your credit file this will take 6-8 weeks from the date of your final response”. This would be around 29th Jan 2021 – should I just wait and see if it’s gone around then or does this not sound quite right?
Sunny/Elevate – they’ve been updating all the credit files for everybody recently as we know but on mine, it’s showing that they’ve removed 7 loans that were done as “pay day/short term” loan and then added 7 loans as “unsecured loans”. Clearscore description says “What does this mean?
This could mean that you opened a new account, or it might be because a lender had just shared some information relating to an old account.”
Do you understand what happens here? I’m very confused..
Cheers!
Dave
Sara (Debt Camel) says
yes I suggest you wait and see if this is sorted by the end of the month. But you might send SNC an email now saying that if this isn’t right by Feb 1st, you will be sending your complaint to the Financial Ombudsman.
No one has any idea what Elevate are doing. They should get this sorted in the end.
Helen says
Hi Dave,
Elevate didnt remove any of the 30 loans i had from my credit report, despite them supposedly doing so in administration. I emailed them and actually got a very helpful reply back (see below).I know it doesnt exactly match your problem but if the loans don’t disappear, make a Transunion dispute.
We have sent our last and final update to the Credit Reference Agencies, and all changes should have been implemented by the end of November 2020.
We are not able to confirm specifically which loans/if any were included in the update. If your credit file is incorrect, you will need to raise a dispute with the CRA directly and explain that Elevate Credit are in administration. A company in administration follow different reporting rules with the CRA so it is important that you point this out to the adviser so that they do not follow their normal procedures which may be to refer back to us to send an updated file (which we cannot do now).