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?
Jo says
Hi
Mortgage lenders are now asking for 2 years free of pdl’s does this mean 2 years from when they are paid off or 2 years from when you take them out??im a bit confused.
Thanks
Sara (Debt Camel) says
See https://debtcamel.co.uk/payday-loan-mortgage/.
GH says
Does anyone have any experience as to what the lead time is to an adjudicator picking up a complaint regarding a irresponsible lending claim through Likely Loans? TIA
LJ says
Hi Sara,
Thanks so much for all of your useful advice.
I had a total of loans with Lending Stream between 15/03/2017 and 29/10/2018:
1 = £200, 15/03/2017
2 = £200, 12/05/2017
3 = £50, 30/08/2017
4= £100, 11/10/2017
5= £400, 06/12/2017
6 = £590, 19/03/2018
7 = £250, 04/07/2018
8 = £200, 29/10/2018
LendingStream have responded with a partial settlement to my complaint. In which they say:
“For loans 1 to 6, the money that you had after your expenses were subtracted was more than the amount needed to pay us and would still have left you with some money. This means that these loans were affordable.
Although loans 7 to 8 were affordable, we have thought about the number of loans and the time that passed between each loan being opened. We can see that it might not have been a good idea for us to make these loans.
So, we are partially agreeing to your complaint”
They have offered £329.14 (interest/fees/8% on 7-8)
What I don’t understand, is that the frequency between loans was shorter between some of the 1-6 loans. I believe that this clearly shows that I was taking a loan, paying it back, struggling again, and then again accessing further loans. 8 times.
Is it worth taking to FOS do you think?… and if FOS either a) agree with them b) disagree but say I’m not entitled to anything – can/do the lender then retract the £329 offer they made initially?
Many thanks
Sara (Debt Camel) says
My guess just looking at the loans is that you may well get loan 6 refunded at FOS and could get loan 5.
I don’t know if LS would be prepared to add loan 6 if you go back to them and say you think you could get loans 5-8 refunded at FOS but for a speedy settlement would be happy to compromise on loans 6-8?
I don’t remember seeing a case where anyone ended up with less because FOS didn’t think they should get so much.
LJ says
Thanks so much Sara. LS were quite insitant in their reply that their offer was ‘full and final’ – so I guess I should refer to FOS.
Thanks very much for your help. I’ve been in debt since 18 (now 29). Started with £18k and I’m down to my last few thousand. Sites like yours really really really help.
Sara (Debt Camel) says
oh it may still be worth going back to LS – give them a week to consider what you have said.
LJ says
Thank you. I’ll go back to them. I’ll be sure to come back and let you know how I get on!
Thank you! ~LJ
LJ says
Hi Sara. LS have sent a lengthy reply back to me. Top and bottom of it is they are sticking with their original offer.
“Considering we have already provided you with the finest resolution available to us for the complaint raised, our final response remains the same. Moreover, due to the fact that multiple loans offered in a considerable time frame are not considered as “irresponsible lending” if the disposable income of a customer (in proportion to the borrowed amount) is enough to meet the monthly repayments of the loans. Further to this, please understand that the assessment is not based on only one aspect but then on combined aspects, which gives us the result after the appropriate checks.
While we understand that you are not satisfied with the information used basis which loans were offered to you, please be informed that it is through the information supplied by you at the time of loan application that our underwriting engine determined the eligibility for approving the loans. Hence, the responsibility for providing factually correct information rests with the you, the customer.”
I’ll take it to FOS I think, if you think I could get 5-8 considered with them!
Sara (Debt Camel) says
from what you said (and obviously I haven’t seen your bank statements or credit record) I think its very likely 6 would be refunded by FOS, 5 is possible but less likely.
Matt says
Hi Sara,
I got a final offer from Lending Stream, where they’ve decided to to refund me 2 out of 7 loans (the last two).
1 £300.00 2015-04-04
2 £600.00 2016-11-02
3 £400.00 2017-04-21
4 £600.00 2017-05-06
5 £500.00 2017-11-14
6 £250.00 2017-11-21
7 £1100.00 2018-02-28
They also say they will remove any adverse marks left on my credit report for the last two loans, does it mean the default I got on the last loan will be removed?
I’m quite happy with this to be honest, but wonder how much I can push, as I could argue I had issue with loan 5 though but I don’t know how much I can push. what’s your opinion?
Thanks again for the help.
Sara (Debt Camel) says
does it mean the default I got on the last loan will be removed?
yes it should.
If you take the case to FOS, you may get loan 5 included. Possibly loan 4 but that is less likely.
I don’t know if LS are likely to agree if you push back and point out that FOS may well include some earlier loans and you would be happy to compromise on a refund of loans 5-7. You could offer to send your bank statements from the Oct-Nov 2017 to support this.
Matt says
Thanks Sara, I will accept their offer and move on!
Sam says
Hi Sara
You may recall last week I commented that I have made complaints to 3 lenders, the one we discussed was 1st Stop/Oplo.
I have now had a reply from Bamboo who admit there were “sufficient grounds to support some of the claims I made” and have upheld the complaint. What they have offered is to waive all the interest on the loan and remove any negative information from my credit report. Therefore I am left to repay the £1000 loan I took from them, of which so far £333 has been repaid.
They have quoted from the FOS guidance that their advice is to do just that, but the balance on the actual loan should still be repaid by the borrower.
On that basis should I count this as a good win, or is there mileage in trying to get more/all of the outstanding loan cancelled? Either by responding to Bamboo or escalating a complaint to the Ombudsman?
Many thanks!
Sam
Sara (Debt Camel) says
so they are reducing the balance to £667? That is what FOS would say.
Have they said they will release you guarantor? If not tell them either they do this as well or you will tell your guarantor to put in a complaint and ask for it…
JaneC says
Finally got a response from the FOS about my complaint to Satsuma. She found in my favour and is asking them to refund loans 3-7. I am no doubt expecting them to drag their heels. It has taken nearly 12 months to get to this point. Apparently they have some extra resources to get through a backlog of complaints. Fingers crossed they agree and I can get my refund and draw a line under this. In a much better place financially now and this is my last complaint.
Sam says
Yes, reducing to £667 so the amount repaid would be only what was borrowed. Should I accept that or go for more being reduced?
I didn’t have a guarantor, they just lent to me even though by this point I definitely wasn’t in a good position. They were the only non guarantor loan left I could take and with very high interest.
Sara (Debt Camel) says
That is as good as you will get from FOS. I suggest you just take it.
Sam says
Ok thanks, I’ll take it then!
Jon says
I have recently had my response from FOS adjudicatior and am quite happy with what they have suggested Provident should do. Has there / is anyone aware of any cases where Provident have rejected the adjudicator decision and taken to full ombudsman?
Mrs B says
After finding this forum in Nov 20, I have placed numerous affordability claims with several companies. I have received responses from nearly all companies to date. By doing this I have 2 x defaults removed and many loans are being removed From my credit file. Regarding money I have only received from SNC as all of the other companies are now in administration. I still had a open loan with quick quid who agreed to remove all interest and I only paid back principal funds, this is now cleared and being removed from my credit file with a little negotiation. Thanks Sara for helping me get out of this PD cycle
Kayleigh says
Hi Sara, I put in a complaint and I’ve just received this response. Does this mean I won’t actually be getting any money back? Thanks.
Having assessed your complaint based on the Redress Methodology, I can inform you that your complaint has been upheld and you qualify for Redress for 1 of your loan(s) with Uncle Buck. This has resulted in you being entitled to a total unsecured claim in the Administration proceedings of £239.51.
Unfortunately, whilst we have added your unsecured claim to the list of creditors within the Administration, regrettably due to the lack of funds in the Administration, there is no prospect of a dividend being paid to unsecured creditors. This means that notwithstanding your entitlement to Redress no payment towards your unsecured claim will be made. More detailed information on the reasons for this can be found in the Customer Redress Scheme and FAQs, which can be found by clicking on the link in paragraph 2 above.
Sara (Debt Camel) says
yes, there isn’t any money :(
Dave R says
Hi Sara,
Have had a final response from Ferratum now. Partially upheld – Just wondered if I have grounds to ask them for a better deal or if I should take their offer:
Here’s my history with them
1) £200 loan – Feb 2017 – 1 month – repaid £219.20 – repaid on time
2) £200 loan – April 2017 – repaid July 2017 – repaid £333.08 – repaid late
**gap in lending**
3)£100 loan – March 2018 – repaid April 2018 – repaid £135.20 – repaid on time
4) £100 loan – May 2018 – repaid May 2018 – repaid £107.20 – repaid on time
5) £200 loan – June 2018 – repaid Oct 2018 – repaid £384.63 – repaid late
They offered to remove loan 5 and process a refund of £193.02
refunded interest – £168.63
8% simple interest – £30.49
less HMRC tax at 20% – £6.10
“Loans 1 to 4 were repaid as agreed, this suggested the loans were affordable and we were not alerted to any financial difficulties. The loan amounts remained for a similar amount and did not increase in value so we had no reason to believe that the lending provided was not sustainable. There was a gap in lending between loans 2 and 3 so it is reasonable to consider loan 3 as being the start of a new lending relationship. Therefore all 5 loans were issued early in the lending relationships and do not show a particular reliance on our products.”
Loan 2 was not paid as agreed as was paid late..
What should I do?
Dave R says
So I went ahead and countered their offer. I requested a full refund of interest etc for loan 2 as well as 5 and for both loans to be removed from my credit file. They have agreed to this. Didn’t think it would work but there you go! The loans that will remain on file were paid on time with no issues and were 3-4 years ago so I’m quite happy with that as a result.
Sara (Debt Camel) says
Well done!
Denise says
Hi dave how long did ferratum take to get back to you?
Carol H says
Hi, I today received a pleasant surprise, when I first started this journey I sent the template to everyone on the list I recognised the names of. One was H&T, when I then checked back I realised I last had a loan from them in 2011 so obviously expected nothing, I also have no bank statements from this time as I changed banks. Today though I got an email saying nit upholding complaint but will offer me over £800 as I had a £250 loan outstanding with them they are wiping this and refunding the difference £622. So once again thank you Sara and team without this page I would never even have tried.
Paul H says
Hi Carol, great news regards the 2011 loan, sadly the majority of mine for that period (Cash Genie, Sunny etc have since all gone into administration) however as you mentioned this page and Sara has helped so many of us get at least some money back.
I was just wondering if you went back to Mr Lender at all regards the loan 5 or you took the £729 was it they offered. I have a similar situation with them that’s all.
Carol H says
I took the money for the very reason you’ve just said about companies going into administration, I was sat patiently waiting for my myjar refund even got the email to say it had been sent to my bank then into administration so now will get about 50p and have to wait and see if will be removed from credit file like they say they had done. I think if I had the nerve to hold out going to the FOS I could maybe have got loan 5 but in all honesty I can’t afford to turn down money and wait for 6 months or so to find out. I have two companies left to get back to me, cash converters and wageme then I can finally put all this finally behind me :-)
Chris says
Hi. Does anyone here know roughly when 247Moneybox will pay out on redress claims that they asked those of us who had loans with them to fill out last year if we think we have a case and what the percentage will be if we are successful??
Dave R says
I’ve been keeping a beady eye on this one as it’s very hard to get a sense of where they’re at. They’ve still given no updates as to where they are at or timescales estimations.
Chris says
The funny thing is that when I agreed to the gross redress amount last year, there was a section in my 247Moneybox login that showed that I had applied, it was simply called ‘Redress’ and when I clicked on it, it just said something along the lines of how I had done everything I needed and that the Administrators will be in contact etc but that has now disappeared. This is why I came back and enquired here because I thought perhaps I might have missed something. Something must be going on or getting ready to be done though, as there has to be a reason why that has now disappeared after all this time it was on there. Thanks.
Jo says
The same thing has happened on my account, I always check in on my accounts that are in admin just to see what’s happening so it’s nice to know it’s not just me.
Sara (Debt Camel) says
The website will have changed as the Jan 31 date to submit/challenge a claim on the portal has now passed. The latest administrations report (see https://find-and-update.company-information.service.gov.uk/company/05671281/filing-history) shows there is some money to be distributed to people owed refunds but there is no estimate of the total redress calculated across the people who have claimed so I can’t make a guess at what % you might get.
Tom says
I was told by them last week that the date for removal of negative markers from credit files would be ‘at some point in Q2 2021’. So I guess we have to wait and see between April and June!
Danny says
I was recently contacted by 247moneybox and said they would contact me in the 2nd quarter of the year regarding the redress.
Paul H says
I still haven’t heard anything from them since stating to the administrators about making a claim. I had 43 loans with 247moneybox over almost 5 years totalling well over £30,000 (they was my worst). I just wish I had found this site well before they went into administration because probably be lucky to get even £100 back now, maybe even nothing if not enough money :-(
J ASAP says
Hello
After years of getting refunds from payday lenders (loans taken out in 2014-2017) I’ve just hopped into my credit Karma report and noticed that I’ve had a Peachy default left from 2016 !!
I’m not sure if this has just recently been applied or has been hidden away for years, as I had another default from Sunny that they refused to remove.
I’m very confused. I emailed Peachy and got a stock standard response explaining what a bloody default is.
Here’s an email from them when I pushed for a refund on interest. No mention of default…
Please be advised that you have had 1 loan with us taken out on the 29/05/2015. You have made several payments on time and once you went overdue for 1 day with an instalment. On the 24/08/2015 we have received a notice that you have cancelled Continuous Payment Authority, so we stopped to collect the payment from your debit card. On the 26/08/2015 you have notified us about going through the Debt Management Plan and we placed your account on hold until we received the documents from Money Advice Group on the 31/08/2015.
We have received several payment from your Debt Management agency, but on the 13/07/2016 you notified us that the agency is no longer trading and wanted to know the settlement figure. After some discussion we agreed to accept £82.00 as a final payment.
Has anyone got a more direct way of talking with Peachy. As I’m sure in administration now.
LJ says
Has anyone heard anything to suggest that Lending Stream / GAIN is heading into administration?
Just deciding whether to hold my nerve and wait for the FOS process (but conscious that it might take months) and don’t want them to go bust before I do, otherwise, I’d be best taking their current offer!
Sara (Debt Camel) says
Nothing.
They have made some big system changes this year to change over to using Open Banking to verify loan applications – so they may be confident they will survive?
With every other payday lender that goes under, it is more profitable for them to remain in business as there is less competition and they can be more picky about who they lend to.
LJ says
Thanks for the insight Sara. I think I’ll hold my nerve!
James says
Does anyone know the current lead times at the Financial Ombudsman?
i.e. I submitted a complaint today against QuidMarket – how long will it take until someone at the FO properly engages with it?
Thanks
Nick says
Hi Sarah,
I’d really appreciate your view on my case with Satsuma loans. I had 8 loans between March ’17 and October ’19. There was never more than a couple of months between them and at times they were back-to-back or even running concurrently. The loans increased in size and frequency over time. The amounts were £400, £500, £760, £1,150, £900, £900, £500, £1000 respectively. Loans 4, 5 and 6 at one point were all running concurrently and were all provided within a 4-month period. I repaid all the loans on time. I have a good credit record and reasonably high earnings. However, I was needing to take out ever increasing pay-day loans, bank loans and credit card debt to repay the Satsuma loans, and there was also significant gambling over this period (which I’ve since got on top of). Any review of my credit record or bank statement would have identified significant borrowing from a host of PDL lenders and banks and large gambling transactions.
I have complained to Satsuma but they have not responded and it has gone beyond the 8 weeks. Having called them today they told me they have not even allocated my case to a claims manager yet, and actually advised me to go to the FOS (which I have done).
I am expecting Satsuma at some stage to come back with some form of offer, but unsure what sort of figure I should accept before I continue my case with the FOS. I would like a refund of interest on loans 3-8. Is that reasonable? Thanks.
Sara (Debt Camel) says
That sounds good to me. If they offer 4-8 you should think about it.
Nick says
Thanks.
Given that they have stopped lending, should I be worried about them going into administration, and therefore accept the first thing they offer? Or as part of the wider Provident group, do you consider that unlikely?
Sara (Debt Camel) says
I suggest waiting and seeing waht any offer is. It is easier to think when you have some facts not try to think about a lot of possibilities.
Provident are a large lender with many profitable parts – Vanquis and Moneybarn. They have been getting a lot of complaints about Satsuma and Provident doorstep loans. In their last accounts they didn’t seem too worried about them. But things change. So come back when you have an offer?
lisa says
Update on a previous post
The Financial Ombudsman have fast tracked my mother’s complaint against Provident due to her ill health and have today advised in their opinion 15 loans had been mis-sold whereas Provident said only 1 had. Obviously this is a great result for her but my concern is Provident have been given the right to reply and so I wondered how likely it will be that they will dispute the Ombudsman’s findings and could this potentially drag on?
The loans totalled around £10,000
Sara (Debt Camel) says
Provident normally accept FOS adjudicator decisions
Danny says
I spoke with lending stream who I had several loans with over the pay few years, not huge amounts though, think the biggest was £450 but quite a total over time. As the claimant said the FOS would be involved, is that worth chancing with these lending stream loans I had?
Sara (Debt Camel) says
As the claimant said the FOS would be involved,
Sorry, who said this?
Danny says
Do accept my apologies, my wording wasn’t great. After reading another story with regards to claiming a redress from Lending Stream, the company seemed to offer a redress when they were told the FOS might be involved.
Sara (Debt Camel) says
That’s ok, I was wondering if there was a claims company saying something!
If your loans were small you can still win a case if they were nearly consecutive – as soon as one finished you were taking another within athe next month.
But if the loans were small and there were breaks between them it’s going to be hard to win a complaint.
Danny says
Even though the amounts were only small as we said, is taking one out every month on average consecutive enough? This was from May 17 to Feb 18.
Sara (Debt Camel) says
I think that is worth sending to the Ombudsman.
Danny says
Thanks for your help.
Colin Brown says
The ombudsman upheld my complaint against QQ but the administrators have today told me they have not upheld my case? I don’t understand this how can they do this?
Cheers Colin
Sara (Debt Camel) says
They have certain things they check for and you don’t fit with them. But you can appeal against this decision – you should have been told how – and some people are winning these appeals.
Tanesha says
How far back can the loan go before you are nit able to request a refund? I had loans with Provident over 10years ago is that too long?
Sara (Debt Camel) says
Back to April 2007.
JaneC says
Good news. Satsuma have agreed with my adjudicators findings and will refund the interest on loans 3-7, which I’m very happy about. Does anyone know how long they take to pay? They have delayed at every opportunity so I’m not expecting it to be quick.
Dave R says
Does anybody know if THL Direct are still trading or responding?
I sent them an email with a query about 6 weeks ago and then emailed earlier this week to put in an affordability complaint to see if that would spark a reply. It was a small £200 loan in 2017 so I don’t expect it to be upheld – but wanted them to take a missed payment which was unfairly added on my record. When I’ve tried calling it says the number is disconnected…
Sara (Debt Camel) says
I haven’t heard they aren’t.
Try emailing james@thl-uk.com
Sarah says
Thanks so much for looking at this for me and also for this page.
It’s much appreciated.
Sarah :)
Mark says
Hi sara
I made an irresponsible lending complaint 3 years ago which they rejected. At the time I didn’t contest there decision. With them now paying out more irresponsible lending claims can I make either another complaint or continue with this one even though I received there final response
Sara (Debt Camel) says
Unlikely – who is the lender?
Dave Cooper says
Hi,
great website Sarah, good work, just wondering if anyone’s heard anything from the following companies regarding redress complaints/refunds, 247 moneybox, peachy and sunny, I put in redress claims for all 3 and have heard nothing back from any of them, the 247 moneybox one was ages ago, cant even remember when but over a year I think, if I’ve heard nothing back does this mean my redress claim was rejected and they just didn’t bother notifying me? Peachy and Sunny were more recent but I’ve heard nothing from those 2 either, I have an outstanding loan to peachy for which I’ve received contact from a debt collector, I’m guessing they have bought this debt rather than working on peachy’s behalf, this debt collector is still charging me interest on this outstanding loan, I’ve asked them to freeze this while I await the results of my redress/unaffordability claim but have no idea when this will be, if anyone has received a response from peachy please let me know, thanks
Dave R says
Hi Dave
I put a claim in with Peachy and they responded within 6 weeks to reject it. I emailed back to say that I didn’t agree and illustrated why I felt the loans were unaffordable in more detail – they then wrote back to me a few days later to say they had overturned their initial decision and decided to uphold my claim. Redress will be very small and I’ve no idea when this will be. I asked them to remove the loans from my credit files asap and they said it would take some time to do it – due to the volume of claims; but if I filed a Transunion dispute they will give permission for Transunion to remove the loans. My disputes were successful and I’m waiting for the 4 weeks to pass to see if the loans have disappeared.
247 Moneybox, I think I submitted my claim via their website but the redress section has been removed now. I can’t remember if it had been accepted but I feel like it said it had in my online area. They seem to be telling people that payments will be made in the “2nd quarter of the year”.
Sunny – I think Sunny’s claims portal told me my potential redress but can’t remember timescales as it’s disappeared also. They are in the process of updading credit files but lots of weird things happening. Head over to the Sunny pages on DebtCamel for more info
Chris says
Apparently, the reason they removed the redress section from 247Moneybox is that it’s now passed the deadline for people to make a claim, although I’m not sure why they couldn’t have just left some kind of a sign there on our accounts (which are still enabled) for those of us who submitted a claim just to let us know we haven’t been forgotten. At the moment, we’ve got nothing to show we have made a claim even though we know we have. They are just leaving people wondering what’s going on. I’m not even sure what they mean by “2nd quarter of the year”, it sounds as clear as mud lol but I presume they mean May to August. I wish they would just say that though, rather than all this vague wishy-washy language.
Dave Cooper says
thanks for the replies guys, guess it doesn’t look promising then if I’ve heard nothing from all 3, have emailed all 3 of them to ask what the situation is. The Peachy account is the one that’s really bugging me, I cant remember the exact figures but I have paid back slightly more than what they loaned in the first place, I feel I shouldn’t have been loaned this in the first place as it wasn’t affordable to me, so want the remaining interest cancelled and loan settled, but now it appears they’ve sold this debt to a debt collector so I’m guessing this might get messy now, thanks for the heads up on the sunny pages on here, didnt see them at first!
Lyn says
I submitted a complaint with Peachy loans and this was the response I received, I need advise on whether i should accept the offer. Thanks
——————————————————————————————————–
“Please be advised that you have borrowed £950.00 and thus far you have paid £381.04 in total for these loans. This
means that you still have £568.96 worth of capital outstanding.
To put things right and resolve you claim, we propose to reduce your outstanding balance from £1,352.96 to
£568.96.
Please confirm if you would like to accept our offer in full and final settlement of the complaint and that this will
resolve the complaint to your satisfaction.
Please also confirm the date on which you can make the payment, in order to accept the settlement.
In case you are not able to make the payment in one go, please advise how much you would be able to afford to
pay per month and on which date of the month.”
Sara (Debt Camel) says
you have borrowed £950.00 and thus far you have paid £381.04 in total for these loans.
do you think those figures are right?
Lyn says
Hi Sara
Yes that’s correct
Thanks a lot!
Lyn says
I submitted a complaint to Lending stream and this was the response I received, I need advise on whether i should accept the offer. Thanks
——————————————————————————————————–
They offered to refund interest of loan 3 saying from the affordability questionnaire at the time i took out the loans 1&2, showed I had enough money to cover the repayments.
Amount Date
1 £600.00 2019-01-31
2 £350.00 2019-03-01
3 £400.00 2019-03-15
”
• We’ll refund the interest and fees you have paid us for loan 3
• We’ll pay an extra 8% simple interest on this amount
• We’ll withhold 20% of this additional 8% interest amount because Her Majesty’s Revenue and Customs (HMRC) tell us we must do this
• We’ll check this refund amount (after HMRC withholding) against any outstanding balances you have with us
• We’ll give you a certificate of the tax we have withheld for use in any discussions with HMRC if required
• We’ll remove any adverse marks we have left on your credit file at the CRA for loan 3″
Sara (Debt Camel) says
It isn’t a bad offer.
If you went to FOS there is a chance you could get all the loans refunded as the first loan is £600 – but that is unlikely. the first loan normally has to be bigger to get a refund of that. But it is possible. It’s up to you if you want to go the ombudsman and hope to win.
Eddie says
I took out 3 loans with uncle buck, all paid up, when i requested a refund and this was the reason of their refusal. The total fees and charges were just over £400.
……..(Unfortunately, having assessed your complaint based on the Redress Methodology, I regret to inform you that you do not qualify for any Redress)
Is this fair, I am not sure what to do next, thanks
Sara (Debt Camel) says
They sound small loans, you may well not have won that complaint if it had gone to the Ombudsman.
Andy says
Hi Sara
QuickQuid rejected one of my redress claims – I disputed this and provided substantial evidence as to why it should be overturned. They advised me they would review my evidence and come back to me within 21 days. This was 67 days ago – in this time I have sent numerous chasers and even copied the CEO of the Administrators into an email so he can see the trail, but I have got no further forward.
Is there any escalation process I can follow? I know I can’t go to the FOS because of their administration but there must be something I can do.
I don’t care about the redress, all I’m bothered about is my credit file as this is now the only thing holding me back.
Thank you.
Sara (Debt Camel) says
yes, you can send a complaint to the administrator’s regulator, the IPA. Use the insolvency Servoce’s gateway to do this: https://www.gov.uk/complain-about-insolvency-practitioner
Andy says
Great, I will do this today.
Thank you for your help Sara.
Tom says
Hi Andy,
As an FYI, I also had a similar situation. When I spoke to the customer service team via telephone, they explained that due to the volume of people appealing the administrator decision, this 21 day period has now become 8 weeks.
I’ve just had my decision within the 8 week deadline and they’ve overturned it and agreed with me.
Just thought you should know!
Tom
Andy says
Hi Tom,
Thanks for the message – this is really reassuring to know you eventually got it over turned.
Hopefully I will get the same outcome.
Thanks again.
Andy
Danny says
Hello Jo
I’ve been on to lending stream about loans I had. Think it was 9 in total, only totalled about £1500 so nothing mega. Said all there checks were done and not eligible for a refund. Told to contact FOS as I got a loan off them pretty much every month for about 7 months in one particular period and they FOS should have a look at it. Was the process with the FOS easy?
Jo says
Hi, yes it was an easy process. I found the FOS really amenable, all via email, I had to provide some bank statements and it took some time, but in my case it was definitely worth raising, the interest really does add up, even if the loans weren’t big
Danny says
I contacted Lending Stream as I took out a loan with them monthly for a period of about 8 months. They told me all the relevant checks were done and no refund so have escalated with FOS as advised.
I also had 6 loans totalling just short of £1000 with QuickQuid over an 8 month period. Offered me £80.88 on the last loan I took out, not accepted it yet. Just wondering about how to reply or should I just escalate with the FOS as I have with my lending stream loans due to the amount of loans took in the period above.
Sara (Debt Camel) says
You have sent the QQ administrators a claim? if you don’t think the offer is enough, you can’t go to FOS but they should have told you how you can appeal the decision.
Danny says
CashEuroNet have told me I can appeal the decision but that will be at my own expense. How much will this cost?
The loans I had with QQ were:-
19/05/17 -£150
03/06/17 – £150
14/08/17 – £200
29/09/17 – £50
16/11/17 – £200
26/01/18 – £150
With the 6 loans all being with a 7 month period can I say there was irresponsible lending and possibly get more than the £80.88 having had another loan roughly once every 6 weeks?
Sara (Debt Camel) says
I don’t know. I have never heard of anyone being charged. But that is a pretty weak case. You may only have got the last loan refunded at the Ombudsman.
Sara (Debt Camel) says
And realistically you will get less than 10% back of an award, possibly less than 5%. Is it worth the hassle to possibly get one more loan included?
Anita says
Hi.
The adjudicator has asked me why i did not complaint sooner. I replied that i made a complaint as sooner as I was aware I could make complaint. Now thr adjudicator is asking what ford it mean : as sooner As I was aware..’?
Not sure How to responde.. Looking for some help.
Thank you
Sara (Debt Camel) says
who is the lender and how long ago were the loans?
when did you complain to the lender?
Anita says
It is JD Williams. I have opened the account in 2011. I made a complaint to them in 2018.
I sent my case to FOS Just after JD Williams’s finał response.
Thank you for your help.
Sara (Debt Camel) says
ok, no problem there, I was worried you had delayed in bring the complaint to FOS after the rejection by JD Williams.
I suggest you should reply that you knew years ago that it was hard to make the repayments and your balance wasn’t going down because you couldnt afford to repay more. But you thought this was your problem because you did not know JD Williams should have checked the credit was affordable for you. So you did not realise you had any reason to say the lender got this wrong and so you didn’t complaint. As soon as you found out about affordability complaints when [a friend told you? someone talked about it in a Facebook group?] you thought this described what happened to you so you then complained.
Nb Change that so it really is right for you. Those are not ‘the best words’ to use, they are just an example.
Anita says
Thank you soooo much.
Lisa says
I put my Complaint into Satsuma Provident February 2020 and finally received a reply Friday. They’ve accepted the finding of the FOS. They have said they will make the offer to me direct and not to the FOS. I take it this will be a lesser offer than the FOS suggested. Has anyone else had this.
Sara (Debt Camel) says
If they say they have accepted the adjudicator decision the offer should be in line with that, not lower.
Claire says
Yes they told the ombudsmen they will accept the ombudsmen decision and contact me with a breakdown.
No letters or email then I have today recieved a cheque for a much lower amount. I am fuming it looks like they have hood winked the ombudsmen.
I have contacted my ombudsmen case manager as she told me to report any problems.
Sara (Debt Camel) says
had they previously send you another cheque?
Steve says
Hi,
I had a complaint against Wonga upheld where I should’ve received compensation and default removed. I got the compensation but not default removed. They then obviously went into administration and now that has finished and there is no way of contacting anybody.
Is there anything I can do?
Sara (Debt Camel) says
yes – send a complaint to each of the credit reference agencies (Experian, Equifax and TransUnion) that are still showing the default. Say it should have been deleted – attach the email from the administrators upholding your claim – but it hasn’t been, say Wonga has now been liquidated so they cannot correct this so you want the CRA to delete the default and mark the debt as settled.
Steve says
Thanks Sara. One problem… I can’t find my letter/email from the final decision from Wonga as it was years ago! So annoyed with myself. Is there anything else I can do?
Sara (Debt Camel) says
well it wasn’t that long ago – about 12-18 months? It would have been an email – have another look for it.
A bank statement showing the credit paid in Feb/March last year from the administrators could also help a bit.
If you can’t find it, still tell the CRAs what happened and ask for it to be removed.
Steve says
It was long before they went into administration. The decision came from Wonga themselves. I hadn’t realised until I went for a mortgage and it flagged up. I then tried chasing them but they had gone into administration and I got nowhere. I will tell the CRAs and see what happens.
Sara (Debt Camel) says
ah i see. I hope you get this corrected.
GC says
on fri I sent out a load of affordability complaints, one has replied already, piggybank, got a question though. I had 3 loans total from them in 2018, according to the info they have provided I paid 2 of them back on or before the repayment date and one was 4 days late, the total for redress is £254 for which they say I will get pennies if I accept, they also say they will remove all 3 loans from my credit history, my question is a strange one, is it better for me to keep these loans on my credit history as 2 were paid back on time or should I accept their offer and have the loans removed, I know this sounds like a weird question but does having the 2 loans paid back on time look better on my file than not having them, I hope this makes sense haha
Sara (Debt Camel) says
So you will get “pennies” back because piggybank is in administration.
Does the loan which you paid late have a late payment marker on your credit report?
GC says
never thought of that, just checked and yeh theres a late payment mark for the loan paid back 4 days late, guess that means I should def have them removed?
Sara (Debt Camel) says
definitely!
Wb says
I’ve recently had a loan with loans2go couldn’t make the first payment so I emailed them, in my email I stated I’ve had long time problems with payday loans so they should have seen that on my credit file history. They’ve emailed back saying due to what’s been said they are going to investigate my complaint. They want me to send in back statements. I’ve got a lot of gambling on there, and the figures I’ve given them through the application were different: not sure wether to send them in?!
Sara (Debt Camel) says
if you want to win the complaint, send them!
PS there is a separate article on Loans2Go, they are so bad… https://debtcamel.co.uk/worst-loan-in-britain/
Wb says
The bank it got transferred into, will only show gambling pretty much. But from my credit history it will show a long list of historic payday loans that I’ve just came out of. Surely that would have been a red flag. It’s like these companies just wait for credit scores to go up slightly so they can offer you a high interest one.
Sara (Debt Camel) says
Then send your bank statement to L2G with your complaint.
C says
In my final response from Lending Stream many many months ago they offered to deduct nearly £900 off my existing balance which I rejected as I’d paid over double that in interest and I sent my complaint to FOS. While I was waiting for it to be picked up Lending Stream closed my 2 existing loans randomly. Eventually an adjudicator said that lending stream’s offer was fair but I pointed out it was no longer valid as they’d closed my loans and so they couldn’t deduct the money from a balance that no longer exists. At the beginning of January Lending Stream told the adjudicator they’d refund me nearly £900 in cash which I accepted via the adjudicator but needless to say I’ve heard no more. The adjudicator emailed them again last week and copied me into the email chasing it up. Will this more than likely end up being reviewed by an Ombudsman or are Lending Stream likely to pay eventually do you think?
Sara (Debt Camel) says
it’s pretty hard to guess what will happen here.
Alan says
hello,
I made an affordability complaint for a loan I took out around March 2020, the company in question is moneyboat, they replied to me today saying the following below, should I be worried they’re threatening me with this Fraud marker they claim they can get added to my credit file? is this a bluff to try and get my to drop the complaint? Also do I have to send them my bank statements?
“I am writing in response to the complaint you raised. Please accept this email as an acknowledgement of your complaint.
Please see attached your requested statement of account.
In the event of an affordability/irresponsible lending complaint, could you please provide us with copies of your bank statements applicable at the time of your applications, so that we may carry out a full and comprehensive review of your complaint.
Should it transpire that information provided by you at the time of application was false or misleading, we may register this attempt to gain redress falsely as a first party fraud with CIFAS the fraud prevention agency. To learn more about fraud and understand your rights please visit cifas.org.uk. Any fraud marker may affect your ability to obtain credit with banks and other lenders in the future.
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
They send that to everyone. No one has had any problems if they are rejected and take their case to the Ombudsman.
It’s good to send statements, but people have had complaints upheld without and MB still reject sone good cases even if you do.
James says
Has anyone recently complained to, and received a response from, QuidMarket? If so, how long did it take?
Separately, anyone have any info on whether they’re one of the better ones to deal with (or the opposite)?
Thanks
Dave R says
Hi James
Yes I complained to them. Took forever to acknowledge my complaint, chased them up after a few weeks and they apologised and backdated the date to start the 8 weeks from. Seemed pleasant enough to deal with.
They are a very small business and did take the full 8 weeks for me – decision on the final day. Not upheld. Only two loans from them. They agreed to remove the loans from my credit file as a gesture of good will though. I didn’t think I’d have much chance at FOS so I accepted that as a mini win.
James says
Hi Sarah. For an affordability claim, what proof can I use that the loan was unaffordable? Does it have to be clear from bank statements or is there anything else I can use?
There’s not much missing from the statements but it just seems it would be better if I didn’t rely solely on them. Also I did take out the loan on a month when my financial position was slightly better than other months as I thought that would give me the best chance of being accepted.
Sara (Debt Camel) says
Send the previous 3 months statements with your complaint, not just one.
Your credit record can also help if that shows either recent problems or an increasing amount of debt. But this is in addition to statements, not instead of them.
dave says
If I go through a claims management company does the money from the complaint go directly to me then I pay them or does the money go to them and they take out the fee before transferring it?
Sara (Debt Camel) says
That depends on the lender but often it goes to the CMC who they pay you after taking their fee,
dave says
Oh so it depends on the lender, not the CMC?
Sara (Debt Camel) says
It may depend on both…
C says
Does anybody have an email address for Chris Deboer CEO of Lending Stream please? Thanks
Danny says
chris.deboer@global-analytics.com
Managed to find that if it helps
C says
Thank you so much Danny. His company are ignoring me so I’ll email him directly
Danny says
Not a problem C, let me know how you get on with him if that’s ok.
I’ve got a few lending stream issues myself.
Be good to compare notes.
C says
Yes I will do. I’m chasing a refund I was promised by lending stream but they failed to deliver
Danny says
If you don’t mind me asking C, how far on are you with your case?
I only emailed the Ombudsman last week so I’m not as far on as you.
C says
They offered to refund me around £900 well before Christmas and the adjudicator said that was a good offer so I accepted. The adjudicator asked them to contact me directly but they never did and they are ignoring the adjudicator now so I thought I’d email the CEO directly. I’m not saying I’ll get anywhere but I know doing this has worked for other people with other loan companies
C says
After emailing the CEO of Lending Stream 2 days ago my refund is in my account tonight.
Marie says
Hi Sara
I took out several loans with Uncle Buck in 2018/19 and still have an outstanding amount with them. I complained to the Ombudsman who upheld my complaint and said I should never have been lent any of the loans, however Uncle Buck refuted this and then went into administration.
I’ve just had an email from Uncle Bucks administrators saying they only uphold one of complaints and have said I won’t receive the redress of £65 because there’s basically no money, but they’ve sold uncle buck to another company now and are saying I still have an outstanding balance of £480, even though I have essentially paid off the capital and paid £200 more in interest.
Can you please advise me on what to do next? Should I contact the ombudsman and make the complaint against the new company that’s bought Uncle Buck?
Thanks
Marie
Sara (Debt Camel) says
which loan was upheld, the last one?
Marie says
Hi Sara
I thought it was the last one, but reading his email back I think he’s saying a previous one was upheld but not the outstanding one.
I don’t understand how a previous one was unaffordable but subsequent ones aren’t?
Sara (Debt Camel) says
was there a gap between them? Was the upheld loan much larger?
Marie says
I think it was around £800, so about £200 more than the last one I took out.
I think what’s frustrating is the ombudsman felt all of the loans were unaffordable but somehow the uncle buck administrators don’t agree.
Do you have any advice for the next steps? I don’t feel I should have to pay the outstanding amount when I’ve paid back more than the capital and the ombudsman felt I should be refunded for all of the loans.
Thanks
Thanks
Sara (Debt Camel) says
Go back to the administrators and say you would like your claim looked at again as the last loan it was for more than the previous loan which they upheld. Offer to supply bank statements to show it was unaffordable. Point out FOS upheld it.
Marie says
Thanks Sara
If I don’t have any joy with them should I go back to the FOS and make the claim against the new company that’s bought Uncle Buck?
Sara (Debt Camel) says
No, they will refer you to the original lender. And FOS won’t look at the case.
Marie says
Ok thanks Sara, I’m feeling a bit helpless like I’m going to end up just having to pay this back. It feels so unfair when the ombudsman upheld my complaint
Also will the administrators even bother looking again at it if they’ve already sold the debt to this new company?
Sara (Debt Camel) says
All you can do is persevere.
Tom says
Hi Marie, just out of curiosity what email add are you using to contact the uncle buck administrators? I sent an affordability complaint to them on Fri 5th to info@unclebuck.tv but haven’t received a reply yet, not an even an automatic one to say they have received my email, just wondering if I should be emailing them on a different one, cheers
Marie says
Hi Tom
Try: unclebuck@harrisons.uk.com
Wish you luck, it’s been a real pain trying to sort this out!
Tom says
thanks for that Marie
Dawid says
Great site sended Ur template via Resolver didnt expect anythink. After a year got na final agreement (Provident told me all was afforable atc. But i pass IT nyway to Obdusman here is resultats:
Redress
£2,357.15
Notional Interest* (8% simple)
£852.41
Income Tax Withheld (20%)
£170.48
Overall cheque refund to be paid to you
@@@@@ £3,039.08 @@@@
Thanks !
Sara (Debt Camel) says
Good result – was this Satsuma or Provident home credit?
You may be able to claim that tax deduction back from HMRC, see https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
Dawid says
It was Provident specily that their ppl didnt mind few years ago if its afforable or no, people if company told youthdy wont give you anythink for sure they hiding somethink :}
Oh need to check IT aswell thanks again Sara!!!
JaneC says
Hi
That’s great news. I have just had a complaint upheld by the ombudsman and Provident/Satsuma have agreed. Just waiting for them to contact me. Can I ask you how long it took them to contact you regarding the redress after they accepted the ombudsman decision?
Dawid says
They contact me around 1-2 weeks after Obdusman give them timeto respond. Ofc.2 weeks after. Specially that is now pandemic etc. I was reminding them about myself every 2-3 days small email xD
Dont sorry until they will settle IT with you they need to pay you 8% bo interest :) so they wont delay IT long :) good luck
George says
Regards unclebuck. The administrators upheld my 2 loans but now they are not off setting it against my current balance of 153 which is also the same amount as the redress, they say it’s not the same loan!! Can they do this?
George says
Loans, 2132516 + 2353418 were due redress, which will be an unsecured claim in the Administration as previously informed.
Your currently loan with a balance, was not eligible for redress.
Whilst I note your comments concerning your desire to set off Redress due in respect of unaffordable loans against your current loan that was not eligible for Redress, unfortunately the Administration precludes the position of set off until the Administrator makes a declaration under Rule 14.29 of the Insolvency Rules 2016. This declaration has not been made by the Administrators and will not be made as there is no distribution or intended dividend to be made to creditors in this particular Administration.
Whilst I sympathise with your position, you will appreciate that the Administrators are governed by statute and cannot contract out of it.
Therefore, unfortunately set off cannot be applied.
Further details of your loan can be found on the Uncle Buck website. You will be able to see details of your current loan and the outstanding balance.
Sara (Debt Camel) says
do you agree that the current loan was affordable?
George says
No I don’t agree, it was not affordable.
What are my options if any from here onwards since it doesn’t make sense paying this amount!
Sara (Debt Camel) says
go back to the administrators and say you want the affordability of the last loan reviewed. Supply bank statements. Go into details about why if they upheld the previous loan the last loan was also unaffordable – was it larger? a very short gap? had your financial position from your credit record got worse?
George says
Hi Sara
Regards uncle buck and my ongoing findings why my last loan was not included in their redress.
After several emails this is the last one below
Please refer to our previous communication in relation to your redress claim with Uncle Buck.
For the avoidance of doubt, this represents our final response in respect of your complaint and there is no further recourse beyond this decision.
This email is sent by Harrison’s he’s a Insolvency Practitioner.
http://harrisons.uk.com/unclebuck-update/
This link apparently explains by category in which mine is category 2. I still don’t understand why I don’t qualify.!
What are my options if any?
Thanks
Sara (Debt Camel) says
I suggest you need to complain to the administrators (Paul Boyle, David Clements and Tony Murphy) direct. http://harrisons.uk.com/our-team/
You can phone them or email.
Say you want to complain that your claim has not been properly assessed. That two loans were determined to be unaffordable but the last loan wasn’t, whereas it was just as bad. offer to send bank statements. Say that you have asked this but you keep being given general replies that do not explain why the last loan is affordable.
George says
Good morning Sara,
Have a reply from Paul one of the joint Administrators, should I mention the people that I emailed before?
He wants to pass my inquiry to a team?
Sara (Debt Camel) says
yes, mention them and say you don’t feel anyone has actually read your complaint which is why the last bond isn’t “unaffordable” as the previous ones were, so they keep sending you some standard reply to a different question.
But what you need to focus on is why the last loan has not been upheld. Nothing else. Or you may again get an irrelevant answer to one of the other points.
So you could set out why the last loan should have been upheld – the size of it? the short time since a previous loan that was upheld? etc
If you don’t then get a satisfactory answer from “the team” then straight back to Paul!
George says
Hi Sara,
Reply from Harrison’s
I have attached an extract from the claims assessment calculator which hopefully provides you with the required information and explains the reason why 2476276 was assessed as being ok and not in scope for redress. The loans all passed the assessment in respect of disposable income and loan conduct but 2132516 and 2353418 failed the assessment when we considered the number of Payday loans that were opened in the previous 6 months; the limit we allowed in the assessment was 3
Loan No
No of short term loans opened in last 6 months
Previous Payment difficulties
Loan granted within 90 days of a payment plan
Income verification and disposable income
In scope for Redress
2132516 14 No No Ok Yes
2353418 10 No No Ok Yes
2476276 3 No No Ok No
The chart may not be clear on this paste, it just tells me that the first two loans with 14 and 10 number of other loans open in the last six months and the last one I had 3 loans open.
Is this actually fair anything to go by?
Sara (Debt Camel) says
how large were these loans? what was the gap between loan 1 being repaid and loan 2 being taken out? And between loan 2 and loan 3?
George says
There were no gaps
1st 100 2nd one 200 last one 400 from March2019 first loan stating and the third being approved in November 2019!
Although I don’t agree with the decision is it too late for a reversal of this outcome.
payments were set out for 164 over 4months of which I had to delay ( instalment 2and3) couple of times and the balance outstanding was 153.81 while I waited for their decision.
Sara (Debt Camel) says
So you can argue that although your situation did not meet there preset criteria, a look at how the loan sizes had increased each time with no gaps between the loans means it is illogical for loans 1 & 2 to be refunded and not the third one.
All you can do is be persistent, keep arguing and go back to the administrator. They can change their mind if they want.
But let me clear, at FOS you may very well not have had any of the loans refunded. This is not a strong claim.
George says
Hi Sara
The administrator has not got in touch via email since my last email about the 3rd loan being illogical…
I was thinking of sending an email to the director? Should I?but not sure if it’s late because they have sent the balance to ACI on Monday! Does that matter!
I still want to argue this decision.
I don’t think they have handled this fairly.
Thanks George
Sara (Debt Camel) says
yes you can go back to Paul.
I know you don’t think you have been treated fairly. But as I said if your case had gone to FOS you may well not have had any of the loans upheld.
George says
Hi Sara
I have a reply from one of the so called (Director of Regulatory Services) from Harrison’s.
Here it is;
I have been forwarded your query; we are unable to revisit the redress position of your loans; my email of 16 February provided the assessment of your loans and this is the final position.
I don’t know what to make of it really, partly it’s telling me they are not really bothered.
How do you see it.?
Could I appeal since it says they cannot revisit the redress position!!
Sara (Debt Camel) says
My view is unchanged – you can try to push this but you have a weak case which you would probably not have won at the Financial Ombudsman
George says
Hi Sara
I have now sent a complaint to insolvency service about Harrison’s redress I should hear from them this week, while I was trying to get some answers from Harrison’s they have passed this to ACI. Amount is 154
As I’m still waiting do I let Aci know that this is under investigation? Can they take any action if I don’t! I have not got back to them but have been getting text messages to contact them on several occasions!
Sara (Debt Camel) says
If you ignore them, they can go to court for a CCJ. It may make sense to tell them you are disputing the debt.
But I continue to suggest you are unlikely to win this dispute and should assume the debt will need to be settled.
ACI may take a settlement offer?
Nesta says
Lending stream, refund.
I had 12 loans with lending stream. I made a complaint in 2017 and settled for a low ball offer which was to close down my 2 outstanding loans which totalled to £390.89 in value. I was desperate and unsure at the time about the full process involving the FOS so i agreed to settle for this.
However recently (3 weeks ago) in light of the Mr Lender review i submitted another complaint to Lending Stream more out of hope rather than expectation. I did not reference my 2017 complaint and started a fresh complaint that they failed in their duty of responsibly lending to me.
I today received a final response saying they disagree that they failed in their responsibility but agree more could have been done about loans 5-12 due to the dates in which the loans preceded one another. In light of this they have offered to refund me all interest on these loans plus 8% statutory interest.
I have accepted and within minutes the money has been credited to my bank account. It was a long shot for me but i am so grateful of the money received as it will help me massively in these tough times.
Just thought i would share as i am sure there will be many others like me.
Some might say i could have tried for the other loan and whereas in normal circumstances i feel loan 3-4 could have also been included in the refund. Given i already settled a complaint i am happy with the offer.
John Michael says
Hi Nesta,
I too have made a claim against lending stream I would be interested to know the timescales I believe I had quite a few with them and I am probably even more so anxious to have them off my report than the compensation ..did they remove all loans from your credit report ? If so was this offered in the original offer ? Any info much appreciated
Nesta says
Hi John,
I was surprised that i got a swift response to my complaint. I submitted a complaint and DSAR request on the 27th of January. I received a final response to my complaint on Tuesday. I decided to accept their offer, to do this i had to click on a link on the letter they sent me. It asked me to either provide new bank details or use the ones they had on file. I accepted to use the ones on file and within 2 minutes my online banking app said i had a payment.
In terms of removing loans, they have agreed to remove loans 5-12 from my credit agreement.
The ones before drop off soon for me as they are close to 6 years.
I think it is the quickest i have had a response and settlement to any claim.
Anita says
Dear Sara
Again I am asking for your help. Adjudicator has ruled in mu favor complaint regarding ONLY ONE of my JD Williams accounts. I was totally suprised they have not looked info all of them. I wrote to the adjudicator explainng that the initial complaint was including all my JD Williams accounts and sent to him that letter to confirm. Here is response I recived today. Od there anything I can do?
I have considered what you’ve said carefully but, unfortunately, our view that we cannot look at accounts Y7872920 and J2828964 remains unchanged.
The information you have provided shows that you complained to J D Williams about all of your accounts. Your complaint form, which we received on 27 November 2018, clearly outlines your complaint about your Ambrose Wilson account and makes reference to you being told you did not have other accounts. You also included the final response letter for the Ambrose Wilson account (W1631794).
However, you did not tell us that you wanted to complain about accounts Y7872920 and J2828964 after the final response letter was issued on 3 December 2018. As you did not complain to us about these accounts after the final response letter was issued – and within six months of it – we cannot consider these accounts.
I’m sorry we are unable to assist you with these in this instance. As soon as I hear back from the business regarding my assessment I will be in touch. Thanks
Sara (Debt Camel) says
makes reference to you being told you did not have other accounts.
Did you say this?
JD Williams said you did not have other accounts?
Anita says
I belive so…it was so long ago…
Sending mu complaint to FOS I have próbably mentioned what I have been told by JD Williams. It was to show that they have not been honest.
It is not fair realy…Many accounts, JD Williams refers to them in finał response but for some reason they are mit being taken under consideration. I have done wrong?
Sara (Debt Camel) says
I think you can go back to FOS and say that this was 2 years ago but from memory you had complained to JD Williams about all your accounts but they only replied about one. You thought your complaint to FOS had covered them all and if FOS had queried it at the time, you could then have made this clear or put in another FOS complaint. Say it doesn’t seem fair that FOS are now saying this is too late to do this when it is because they have taken so long to look at it and because JD Williams did not reply properly to your complaint.
Ask your adjuicator to look again and for this to be looked at by an ombudsman if they don’t change their mind.
NB If any of that isn’t right, change it so it is! You need to be as clear as possible.
Anita says
Thank you so much.
bob says
made an affordability claim to moneyboat last week, they emailed today with their “final response”. They have rejected my claim. Is it worth me even replying to them with an appeal if they say its their “final response”? should I just go straight to the financial ombudsman instead?
Sara (Debt Camel) says
how many loans did you have from them? were there big gaps between repaying one and taking the next one? is the last loan repaid?
tony says
Hi all does anyone know any info on the piggy bank administration? I have a redress of £770 wondered if anyone knew what was happening as not heard anything in a while
carol h says
I have received the final response from WageMe, they are not upholding my claim so i will be taking it to the FOS, but i am surprised at the detail they appear to have gone into for each one before saying they are not upholding the complaint, they have blinded me with information within the email that it was all down to me as i applied for these. I have had offers or payout from every company on this affordability journey expect this one.
Loan ID: (#1-#8) – Have been over 6 years since when this loan was paid off.
1 23/05/2014 £115.00(loan amount) £44.85 (interest)
2 09/06/2014 £130.00 £50.70
3 03/07/2014 £165.00 £64.35
4 07/08/2014 £165.00 £64.35
5 29/08/2014 £165.00 £64.35
6 06/10/2014 £165.00 £64.35
7 31/10/2014 £215.00 £83.85
8 28/11/2014 £250.00 £60.00
9 05/01/2015 £250.00 £50.00
10 06/02/2015 £250.00 £0.00
11 03/03/2015 £250.00 £54.00
12 31/03/2015 £265.00 £63.60
13 30/04/2015 £300.00 £69.60
14 29/05/2015 £300.00 £76.80
15 01/07/2015 £300.00 £72.00
16 31/07/2015 £300.00 £67.20
17 04/09/2015 £300.00 £62.40
18 30/09/2015 £300.00 £72.00
19 30/10/2015 £300.00 £74.40
20 30/11/2015 £300.00 £74.40
21 31/12/2015 £300.00 £69.60
22 29/01/2016 £300.00 £74.40
23 29/02/2016 £300.00 £72.00
24 08/04/2016 £300.00 £50.40
25 29/04/2016 £350.00 £89.60
26 06/06/2016 £150.00 £28.80
27 30/06/2016 £400.00 £310.40
loan 27;Arrears, Current balance of £515.20 remains open. Original Scheduled Repayment was: £489.60
Sara (Debt Camel) says
Some lenders think people will be impressed with extremely long replies. The longest I have seen was 3,000 words!
But somehow those long replied never seem to address the main points. Which in your case is that there was very prolonged repeat lending.
There was a court case last year where the judge said a lender could not just make the same affordability check every time you applied – they also had to take into account the number of loans you had and look in more details as that number got larger.
Definitely send this to the Ombudsman.
Carol h says
Out of curiosity Sara, I checked the word count as the response is 81 pages long! 19356 words! If you would like to see a copy your more than welcome, slightly too long to post on here though :-)
I emailed them back to say thank you for their response but I would be taking this to the FOS and within 2 mins I had back this below:
Hello
Yes. I am sorry it is not the conclusion you may have been looking for. However, we conduct affordaility calculations based on the statements you had provided back in 2015. From looking through many emails, we can see these statements that show a good amount of income compared to the expenses.
We can offer a goodwill refund to close this case of £300.
Sara (Debt Camel) says
its a new world record!
Carol h says
Haha just goes to show just why I was so baffled, I’m going to say no to the £300 and send it through to the ombudsman as they have said I had good amount of income, which I may have had good income but my outgoings outweighed this.
Sara (Debt Camel) says
re they offering to clear the current balance and give you a refund of £300 in cash?
the last loan – how much did you borrow? how much have you paid to it so far?
Carol h says
Last loan says amount borrowed £400 payments made £195.20 current balance £515.20
Sara (Debt Camel) says
OK so lets see how good an offer to wipe that balance and give you £300 is…
if that last loan only was unaffordable the balance would be reduced by FOS to 400 – 195 = £205. So by wiping it you are being offered a refund of £205 on the earlier loans plus the £300 in cash = £505.
That is equivalent to refunding you loans 24-28 and a bit of 23.
Yes it’s a very bad offer.
If you want to see if they will compromise (I don’t know if they will) you could go back and say you would accept a refund of the interest you paid on loans 15-27 and for the last loan to be cleared and the default/missed payments removed from your credit record.
That would be c £1113 in cash.
You are VERY likely to get better than that going to the ombudsman as FOS would also add on 8% statutory interest (which be another 40%) and would probably include more loans before loan 15. But if you are happy to compromise, then it would get this all sorted now.
Otherwise straight to FOS!
Carol h says
Sara your advise is truly appreciated, I am going to the ombudsman I’ve just sent the complaint now, I am no rush “fortunately” for the money at the min, also if for no other reason after their ridiculously long final response that was sent to confuse me deserves a further complaint . I did offer the compromise to give them the chance before taking it to the FOS and below is their reply:-
We win and lose cases and it is mostley based on affordability.
Also, your last loan:
Loan 27: £400 capital less payments made: £195.20 = £204.80 which is used to to deduct any refund as it is capital outstanding. The capital is not a charge of fees or interest, it is capital that belongs to the creditor.
Loans 15 to 27 interest totals to £807. less £204.80 = £602.20
However, we dont believe there was anything wrong with the range you have given as a refund option but to close the case from further ongoing investation, Based on the above, We would like to make a final offer of £500 , settle any loans on your account with us and remove any negative markers on your credit report that we may have posted at the time of any arrears.
Carol h says
Just a further update, I said I was going to the FOS, which I am still doing, then got this reply below
Loans 15 to 27 interest totals to £807. less £204.80 = £602.20
less the capital outstanding of Loan 27: £400 capital less payments made: £195.20 = £204.80
Loan 27 interest is waived, the capital (loan) £400, you have paid £195.20, = £204.80 which is not interest thus not refundable.
In this case, the refund you are asking for is £602.20 this is loans 15 to 27. We are willing to come up to this figure if you wish.
So from nothing at all offered to £300 to £500 to £602, and they still are saying they did nothing wrong, it’s so unfair how people are still being treated, I could have walked away and took their word after their first reply with nothing at all had I not have had this site to get advice from.
Carol h says
Hi Sara
Just an update on this the adjudicator came back to me with his findings he had sent to Wageme upholding from loan 7 onwards, Wageme disagreed and offered £800, I rejected this they then came back and offered £1000 and less than what the adjudicator had recommended so again I have rejected this. Its now gone to the ombudsman for final decision a week ago. I’m hoping this process doesn’t take too long as the rest has been very quick in fairness. Will update once I hear back but from nothing to offering a £1000 just goes to show some times its better to hold your nerve.
JR says
I raised a dispute with MyKredit a few weeks back as I’ve been borrowing from them on a monthly basis from 2016. Ive had 65 loans in total – all repaid – but I’ve complained as I’ve needed to borrow each month as I was in a payday loan trap I couldn’t get out of. They have basically rejected my complaint with the below response. Would you recommend I escalate to the financial ombudsman?
The necessary checks on your credit records were carried out during the application. The credit files and £xxxx income were enough to be approved for our short term product.
You have been a regular client here who did not roll over our loans and showed a rational borrowing behaviour. You also did not inform us or show any sign of financial difficulties until now. Just like in any bank’s behavioural models, our affordability model also considers positive payment behaviour as a good sign.
The Loan history is attached.
The loans, the repayment terms we offered and most importantly the actual payments that have been made were affordable. You were fully informed of all the terms and conditions of the limit that was used, how to make complaints and the lending. There has not been any pressure by our firm to provide further loans or to extend them or even to make payments. Therefore, we find no valid ground for an irresponsible lending claim or to make any refunds in this case.
Best Regards,
myKredit Team
Sara (Debt Camel) says
65 loans? Definitely go to FOS.
Tom says
Hi JR,
If you look on their website, they make this contradictory claim ‘myKredit loans shouldn’t be used for long term financial solution’. If you’ve used them 65 times, then I can hardly see how they can say that you’ve not used their product for this very reason (and that they’ve allowed you to too!).
Tom
JR says
Hi both,
Thanks for your replies!
I’ve just submitted a complaint to the FOS this morning stating my reasons and attached clear evidence of all 65 loans, my email of complaint and their response email.
Thanks Tom – I included a screenshot from their website that says “myKredit loans shouldn’t be used for long term financial solution.” So hopefully this will help my case!
Will keep you both posted on any progress!
Thanks
John Michael says
I have just had an offer from safety net credit for approx. £500 two days after lodging the complaint usuing your style ,which I accepted today in addition to them removing entries on credit file. I have now sent the affordability complaint email to lending stream, mjar and wageday (didnt even know I had this loan until I checked the transunion report). I understand Myjar are in administration has anyone had success with them? in addition to Lending stream and wageday? I must point out MjJar agreed to remove my entries from credit report at the start of the week when I requested them to do so but after reading up on this great website I today put an affordability compliant in with them too do you think they could renege on their undertaking to remove my entries because I have now made this affordability complaint?
Sara (Debt Camel) says
Wageday Advance went into administration two years ago and it is now too late to complain to them.
Lending Steam are still lending.
When you asked Myjar to remove the record, what did you say if that wasn’t an affordability complaint?
Danny says
Did you get the safety net offer using the template?
I’ve heard nothing yet from Myjar yet.
John Michael says
Yes using the template Danny, have you lodged an affordability complaint with myJar if so when?
Danny says
Thanks for that John.
Lodged it last week but no reply yet
John Michael says
Thanks . I just stated that I have paid back on time and fully and wasn’t made aware this would adversely affect my credit report if I did so and that on the basis they did not discharge this duty that my loans be removed which they then responded saying they have now requested the removal of all loans. Do you think I have put this in jeopardy now lodging a affordability claim? Have you heard good success with lending stream in terms of compensation and clearing entries on credit report? Finally the wageday advance was over 2yrs ago (Aug 2018) never showed on equifax but on transunion report do you think this will show to lenders when applying to mortgage . With search histories on your credit report how far back will a lender look or can see for soft and hard searches ? Thank you.
Sara (Debt Camel) says
I haven’t heard of anyone doing this then making an affordabilty complaint. In general I would say that most administrators just want things settled simply so they may well just process your affordability claim.
Lending Stream are slow and difficult. Good results from going to the Ombudsman if they don’t offer what you want.
Was the wageday advance loans all repaid on time or were there any missed payments? is there a balance still owed?
John Michael says
Ok thanks. When you say not offering what you want I take it that’s in terms of low offers? my number one priority is to get them off my report if possible -have you heard of them refusing this when making an affordability complaint? I logged in and can’t see any settled Loans despite me having several with them it may have been under another account username but all my own details- same name , address , DON etc- has this every been an issue ?or is it the claim is for the individual which covers all accounts and loans with that company so shouldn’t matter kind of thing? Lastly I can see my details and the form they use when assessing loans my outgoings are very low some field are nil for loans/credits cards etc and wage is noted which is quite high have you in your experience with lending stream seen them refusing on this basis ? I had quite a few loans over £1200 each time and a few back to back
Yes wageday was paid on time and was one off from my records so it probably is a very long shot.
Sara (Debt Camel) says
Not sure why you have sent Myjar an affordability complaint if they had already agreed to remove the loans from your credit record and that’s all you wanted? But now you have, you just have to let this ride. If you have used different email addresses or something you have to tell Myjar so they can which accounts are yours.
If your LS loans were large, send the complaint to FOS if they don’t refund. My guess is they are unlikely to delete from your records.
WDA – One payday loan paid on time over 2 years ago probably won’t be a big problem for a mortgage application but you must go through a broker, not direct to a lender.
sarah says
Has anyone had any dealings with Money boat?
I’ve just had a final response letter and found it damn right rude and unprofessional on how it was written and it was also full of threats.
I have just sent them my response to this after a terrible day! Let’s see what they come back with
Sara (Debt Camel) says
Yeah they are really unpleasant. If they don’t make a reasonable offer send it to the ombudsman. Moneyboat have never followed through with their threats if you go to FOS.
Dave L says
I had the same when I complained to them and the. They wrote off the loan balance and deleted it from my credit profile so think they’re all bluster
Sarah says
Thanks will do :)
Steve says
I had my “final response” email from yesterday. My experience was the same as yours, the guy was quite rude, made multiple threats about reporting me for fraud, even a few lies from him about my credit history/employment at the time of my loan application. Was it from the same person, [edited – sorry even when they are unpleasant I delete the names of junior emplyees]
I haven’t replied to it, wasn’t sure if there was point when he says its their “final response”, should I reply or just file a dispute with the ombudsman?
Wes says
I had the same. Ignore the fraud part. I asked for the information they held of me, income, checks etc. And they actually had me down earning about £800 more a month than I actually do.
I suggest asking them for the information they hold on you, incase there’s any misinformation that could help when you send to the FOS.
Sarah says
Hi thanks for the response yeah they were really rude to me too. I’d previously requested that information. I’ve responded to them, whether they will reply or not I don’t know. They’re definitely one of the worst companies I’ve dealt with
Lynne says
Thanks. I had the same threatening me with fraud as id ‘claimed my outgoings were less than they were’. Very unpleasant and lengthy letter.
Sara (Debt Camel) says
Sarah, Steve
There is no point in arguing with them. These unpleasant threats seem to be just bluff. They send them to everyone so far as I can see and no-one has had a problem if they take their case to FOS.
John Michael says
Yes it was a rush of blood after getting the offer from safety net today with hindsight I should have perhaps not lodged the affordability claim I am hoping they at worse will refuse the claim and honour to clear the loans from the record albeit it was over 2yrs worth of claims around 8 all above £400 and back to back but as you say ride it out.
Lending stream will wait and see them again tbere were numerous over 10 back to back with most over £500 a time.
I also took a every day loan out at £3500 paying back £5500, which I have lodged an affordability and request to take off record – in the hope they may agree to take off report if no claim
Sara (Debt Camel) says
So you should probably get a reasonable refund from FOS for LS – I know you are focussed on your credit record but more cash always helps :)
You are still paying back the EL loan? it won’t be flagged as a payday loan to a mortgage lender.
John Michael says
Yes very true :)
No i paid it off last year the everyday loan again was sent on the off chance but if they refuse then will just leave it then thanks.
Can lenders see all soft and hard searches within last 2 years as I was surprised with the amount from lending stream , myjar etc on my transunion report that I never saw on equifax
Sara (Debt Camel) says
They can’t see soft searches.
John Michael says
Last message on this I promise ….
I am seeing my hard searches for first time tonight on the transunion report. It’s quite concerning I have about 6 or 7 from May 2019 to November 2019 with myjar and lending stream. Firstly will they disappear if the payday lenders request the loans are removed from your credit report or is this totally separate and would need to be agreed separately? If so what’s the likelyhood of them taking a hard search off/is it common place ? Finally that amount of hard searches albeit coming up for 2yrs could this cause a major doubt for lenders or are searches not too determinative in comparison with actual loans and accounts opened etc…
thank you once more for all advice and I appreciate I have definitely over used my quota for the foreseeable …
Sara (Debt Camel) says
See https://www.experian.co.uk/consumer/guides/searches-and-credit-checks.html
Mark Mathews says
Can I go back to 2010 to make a claim for a unaffordable loan?
Sara (Debt Camel) says
Yes you can.
who is the lender? did you just have one loan from them? how large/
Mark Mathews says
Mobile money, I had 8 loans in total between 2010-2013
Loans were between £450-750
Mark Mathews says
Is it worth Appealing this: 1/2
I am writing in response to the complaint we received on the 18th December 2020 via email.
My understanding of your complaint is that you are unhappy as you feel that the loans provided to you by Mobile Money Ltd (MML) were done so irresponsibly and were not affordable to you.
You have requested a refund of the interest and charges plus statutory interest and for all negative information to be removed from your credit file.
As Compliance Officer at MML, it is my responsibility to investigate all complaints that are made. Should my understanding of your complaint be incorrect please do not hesitate to contact me using the details provided below.
I can confirm that you held a total of eight loans with MML which were written between 2010 and 2013.
Under the rules within the Financial Conduct Authority’s handbook (DISP), MML is not obliged to investigate your complaint concerning these loans, nor does this fall within the jurisdiction of the Financial Ombudsman Service. This is due to the event being more than six years ago; or (if later) three years from the date on which the complainant became aware (or ought reasonably to have become aware) that you had cause for complaint.
Mark mathews says
2/2
For each of the loans you held with MML you were taken through a face to face income and expenditure assessment prior to completion. The sole purpose of this exercise was for us to determine if the loans were affordable or not. You ought therefore to have been aware that we were responsible for calculating whether the loan was affordable to you.
If it subsequently turned out that you faced any financial struggles as a result of these loans, you ought reasonably to have been aware at that time, more than three years ago, that something may have gone wrong with the affordability assessment (for which we were responsible) and had cause to complain.
Although MML will not give the Financial Ombudsman Service consent to investigate complaints concerning this loan, we will provide you with their details below:
Financial Ombudsman Service
If you are unhappy with this Final Response and our decision you can send your complaint to the Financial
Mike says
I’d say so. It’s down to the FOS if they investigate further back than 6 years, NOT MML. Sounds to me like they are trying it on. Personally, I would send on to FOS.