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 if you still owe money.
This article covers everything you need to get started. It’s easy, free and many people are winning large payouts.
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 managed to repay 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 be used to solve a short term problem. If you kept rolling a loan or 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 ignored even very obvious signs of problems such as your loans increasing in size or borrowing very soon after repayment.
How much compensation can you get?
You don’t have to calculate this. Or work out which loans were unaffordable.
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.
Payday loans are meant for short term problems and the lender should not have carried on giving you loans, 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 have temporarily stopped lending because of Covid-19.
These include:
Lending Stream, Satsuma, Fernovo, Ferratum, Mr Lender, Moneyboat, Smart Pig, CashASAP, CashForUNow, Fast Loan Uk, LoanPig, Kabayan, MyKredit, Oakam, QuidMarket, Savvy, WageMe, Wizzcash,
See this email list for payday lenders for a longer list and all their contact details to use.
Also use these letters for the very high-cost sorts of “flexible credit”, including:
SafetyNet Credit, Drafty, Polar Credit, Tappily.
If the lender has gone into administration, including Myjar, 247 Moneybox, Peachy, Piggybank, Swift Sterling, Uncle Buck:
- you can make a claim to the administrators – there is normally have a simple form for you to complete, see the lender’s website for details.
- you may not get much back but this is very easy to do. And if you win the complaint any negative marks on your credit record will be removed.
- Sunny – read Sunny goes into administration – what should customers do? for how you can put in a complaint
- QuickQuid – read What will happen in QuickQuid’s administration for how you can put in a complaint.
Wonga, Wageday Advance, the Money Shop, Payday UK, Payday Express and other lenders who gave up years ago – it is now too late to make a complaint about these lenders, see this list.
For longer-term loans there are better template letters to use on other pages:
- Provident,
- Amigo and other guarantor lenders,
- 118 Money, Everyday Loans and other high-cost large long-term loans.
First, before you send in a complaint
Doing these four 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. Don’t get an Experian or ClearScore report instead – many payday lenders don’t use those.
If you can log-in to the lender’s website and see your loans, take a copy of them as sometimes they vanish when you complain.
If you still owe money to the lender:
- 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.
- read the Stop making payments? section in Payday loan refunds when last loan not repaid. If you want to offer a lower affordable amount, add a sentence to your complaint letter saying this.
- if you have a lot of borrowing at the moment, read Escape from the payday loan trap which looks at how a debt management plan can help you.
If your loan was sold to a debt collector you still complain to the original lender but also tell the debt collector that you are disputing the debt. Don’t skip this bit or a debt collector may go to court. It is a good idea to carry on making payments to the debt collector if they are affordable.
Start your complaint & get loan details
You can 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. 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.
[Only put this bit in if some of your loans were more than 6 years old. This explains why you haven’t complained before. It ‘s only an example, don’t copy it, change it so it covers what happened to you!] [I didn’t know that the lender was supposed to check that I could repay the loan without having to borrow more. I only found out in 2020 when I saw a newspaper article in the Sun/an advert on Facebook for payday loan refunds/a friend said they had made a complaint/whatever.]
This email begins your affordability complaint.
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.
They may send the list of loans sooner, and then later send the response to the complaint, so don’t be surprised if you get sent info on the loans but nothing about your request for a refund.
Don’t be surprised if you have to wait until the end of the 8 weeks to get response. A lot of lenders are really slow.
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.
I don’t know if many lenders actually read what you send them. But it’s easy to do – you don’t need to calculate what refund you should get or quote laws.
Change this template so it tells your story.
I have had x loans from you from [2015 to 2016].
Paying you each month left me with too little money so I had to keep borrowing to get through the next month.
For this period my take home pay was about £x a month.
[Include the following details if you know them, but if they varied a lot miss this out My living expenses were roughly: rent/mortgage £x. Council tax £x. Utilities and bills £x. Transport costs £x. Clothes £x. Food, toiletries etc £x. Child expenses £x Other debt repayments £x. Total £x per 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.]
You should never have given me these unaffordable loans. I am asking you to refund the interest and charges I paid, plus statutory interest, and to delete negative information from my credit record.
Some ways to improve this
Add any points that help you describe what happened to you. And delete any bits that don’t matter to you. 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 add a bit about this.
Don’t worry that the lender will say you should have cut back on your living costs, just put down your normal expenses. You don’t need to include evidence about your expenses.
Send credit record and bank statements?
Some lenders ask you to send them a copy of your credit record, your payslips or bank statements. This is mostly to be difficult – the lender can check your credit record themselves if they want.
Don’t send payslips – they won’t help an affordability complaint and the ombudsman never asks for them.
Send bank statements if you want, but think twice about the cost of copying and postage if there are a lot. Most lenders seem to ignore them if you do send them.
Some people feel these are personal and they don’t want to send them to a payday lender. If you don’t want to send them, tell the lender you will send the Ombudsman any information that is needed.
Rejected or 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 the full 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;
- your loans are over 6 years old – the Ombudsman will look at these even if the lender says they won’t!
Will a lender improve an offer?
You may be wondering if you should go back and try to get the lender to give you a better offer. Most lenders won’t do this, but a few may if you make out a good case – this includes Mr Lender and SafetyNet Credit. For example if they have offered to refund loans 6-12 you would be happy if they included one or two more, you can say why you think loans 4 and 5 should also be refunded.
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 if you think you paid a lot more than that in interest. Some lenders offer a few hundred pounds to people who get ten or twenty times as much from the Ombudsman.
- an offer to write off your current balance may sound good … but it may be very poor if you should get a refund as well, see Refunds when you have a balance owing for details.
- 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 rolled or topped up several times; or
- the loan was large. Here is a single MyJar loan case that was won even though it was an instalment loan and the borrower had a good income because it was for £3,600. And a single loan Sunny 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.
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!
One reader said: They couldn’t be any nicer. Caroline Wayman, the Chief Ombudsman, says:
It’s really OK to phone up and say, ‘I don’t think it was fair.” It’s not court; you don’t have to turn up with your ‘heads of claim’, you don’t have to write a fancy letter. Tell us your story and we will do the rest.
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. Add more details, for example, if you disagree with what the lender replied to you. Include a paragraph about having only just found out you could complain if some of the loans are more than 6 years old.
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.
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.
If you need help to complain, go to your local Citizens Advice, they will help for free.
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.
Ask for a refund for large bad credit loans
Will you get a refund from Mr Lender?
How to complain about a guarantor loan
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.
Lynne says
Sorry but how are you guys complaining to lending stream? When I’ve tried the online complaints form it doesn’t work and it won’t let me log into my account.
John says
Hi, it was the online form I used however they responded to me using this email
complaints@lendingstream.co.uk
Hope that helps , let me know how you get on
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.
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.
Lynne says
No I’ve just left it there. I can’t deal with the stress to be honest.
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
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
Sara (Debt Camel) says
Yes you can.
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.
Lynne says
So Mr Lender’s decision is that it wasn’t irresponsible lending as I’d taken 3 loans out with them more than 6 years ago and that I ‘should’ve known before 6 years was up that I could make an unaffordable claim’! Is this right? They then go on to say that if I realised I could claim in the last THREE years that I need to explain why I didn’t and how am I only doing it now! The reason I’m ‘only doing it now’ is a mixture of seeing it on this forum and also it was mentioned on Martin Lewis’s money programme!
Sara (Debt Camel) says
you had three loans from them? how large?
Lynne says
The last one was £600 and I think they were of a similar amount
Sara (Debt Camel) says
ok, well that is worth taking to FOS.
You have three years to make a claim from the time you became aware. A common time for people to have found out was when they were contacted by the Wonga or other administrators – if that was you, you are within the 3 year period from then.
Lynne says
In fact I just checked my experian report. It shows I opened an account with them on 31st December 2014 and then settlement date was 16 Sept 2016. There are 21 entries of £700 where it says ‘in good standing’ then there is one entry marked as ‘1 month late’ also for £700. Does that mean that’s how many loans I had?!
Then on 1 Oct 2016 it says “the lender has reported they sold the debt to an organisation which is not a member of our info sharing scheme”.
Sara (Debt Camel) says
it sounds odd – it would normally be the repayments you made to one loan.
did you realise the last loan had not been repaid?
Lynne says
I did realise the last loan wasn’t repaid and was sold onto someone called SSL I think. I contacted them several times to try and set up a payment plan but never got a reply.
Sara (Debt Camel) says
Then this is another reason to send the case to FOS now. because if you wait until SSL contact you and threaten court action you may be outside the 6 months time to take the Mr Lender case to FOS.
John Michael says
Has anyone had or know of payouts from myjar administrators? If so was it much lower and did they take longer than the 8 weeks
Sara (Debt Camel) says
The administration only started 8 weeks ago, it will be along while yet before anything is known.
Do you owe them a balance?
John Michael says
No nothing outstanding – I had quite a few with them over the years , just wasn’t sure if it will be weeks or months from the administrators to be in touch and if anyone had any experience but if only went into administration 8 weeks ago then wouldn’t expect so.
Sara (Debt Camel) says
I would keep your expectations low.
Sara says
Hi has anyone had any dealings with piggyback?
I have an arrangement of £1.00 a month in place with them. Its meant to be taken on the 28th of every month. But they keep trying to take it before this date despite me getting in touch asking them why. They keep saying that its nothing to do with them its me or my bank. I have contacted the bank and they have said its set up for 28th. So I’m lost they tried to take it on 6th February and there wasn’t any funds in and I had over 50 emails from the claims team saying my payment hadn’t been paid. I told them when it was due and they said that because they had tried to take on the 6th that it had to be paid. They have now stopped the arrangement and said that they want me to pay £10 a month without even asking for income and expenditure details. Can anyone advise? I’ve complained to financial Ombudsman but because they are in liquidation im not sure they will do anything
Any advice would be appreciated
Thanks
Sara
Louise says
Hi
Wonder if you can help.
I made an irl complaint to peachy on 22/10/2020 which was acknowledged and the reply email
Said they would get back to me in 8 weeks . I have heard nothing since
In the mean time TM leagal services took legal action and submitted a claim despite knowing the account was in dispute. I defended the claim on this fact and TM legal have put the account on hold Which means that the case is stayed for the time being.
I was chasing up the claim and noted that there was also A form to complete on the peachy website which I haven’t done and the deadline has now passed. My question is what happens now, will they still assess my claim as I have emailed them or have I missed the boat by not filling the form out. Obviously it’s the court case that’s worrying me not the compensation. Am at a loss what to do next ?
I would be grateful for any thoughts or advice you could give
Sara (Debt Camel) says
Re the court claim, I suggest you talk to National Debtline on 0808 808 4000 or post on the Legal Beagles forum.
You could email Peachy and say you sent them an email complaint on ddmmyy, you had a reply saying they would get back to you but they never did so you would like that email to be accepted as claim. I don’t know how likely this is to work.
Lynne says
I have found TM Legal Services to be underhand and menacing threatening all sorts. They contacted me out of the blue mentioning a potential court claim against me. The email didn’t even say who the debt was for so I queried this. Turns out it was for uncle buck (whom I gather have now gone bust). I asked them to send me a copy of the original credit agreement. They did and it was from 5 years ago, the amount was £500 yet they were now saying I owed £1,000! In early December they said they’d give me ’60 days breathing space’. During that time I lost my job and a couple of weeks ago they started hassling me again, saying my time was up! . I told them I was out of work since they’d last been in touch. They asked me to send proof of what benefits I was receiving plus copies of bank statements! I told them where to go and lodged a formal complaint with their complaints team. Very unpleasant company.
Paul H says
Sorry I have a couple of questions that I don’t know if yourself Sara or anyone else can help me with. I will split them up.
I only have one complaint now left to send and I’ve put this off till last and it’s Lending Stream. The problem I have with them is it’s the only firm I can’t get hold of a full list of loans I had with them. I used them from 2012 to 2015 and then they put a negative mark on my credit file. I have the list of loans from 2013 and 2014 but Halifax only go back 7 years (2013 I was lucky I had a diary where I had written them in). 2012 I don’t have and 2015 was with a different bank account. I only have bank statements from 2014 also which does show multiple lenders on them and me being in a payment plan with Lending Steam prior to them then lending to me again for the 2014 loans. Reading on here I know they can be quite awkward LS. So I didn’t know if I really can only complain about the 2014 ones due to knowing them loans and having evidence to support my claim for irresponsible lending. I know they are over 6 years but in each complaint I have made so far I told them whilst I am only complaining now. Thanks for any help on this one.
Sara (Debt Camel) says
Send the complaint in now and ask for a list of your loans. You don’t need to have that before you complain.
Paul H says
My 2nd question for any one really is any rough idea of the current wait time with the FOS. I appreciate staffing numbers with the FOS may be reduced due to these times and there seems a lot who are making complaints against these type of lenders currently.
So far I’ve had not needed to go to FOS with any other lender because the offers have been more than fair. Mr Lender been by far the worse though, requesting bank statements for the full 5 years I had loans with them plus lots of other documents. Unlike Lynne above they did agree that the loans I had prior to 2014 was unaffordable but basically anytime there was 45 days or so before I used them again they didn’t include, even though I was showing proof of other multiple lenders during that period that was still open when taking loans with them. So they ruled on just 6 out of the 13 (just under £1000 offer). For 3 of them I was in a lot worse position than ones they ruled on so would be confident with the FOS to get at least another £300 to £400 (max would be £1000) but the downside then is the wait time (depending on what it is) and the risk of them potentially going into administration and also there was over 40 emails between us and over 50 documents which they probably know would take me an age to attach with the FOS. I don’t need the money at this moment. So any advice would be greatly received.
Dave R says
Short answer – you have a long wait ahead most probably.
Long answer:
From what I’ve experienced so far with FOS (I have 2 cases with them – 1 against Lloyds Bank and 1 against Satsuma Loans):
Submit complaint online – receive auto-email acknowledgement of complaint submitted
Roughly 4 weeks later – an email from them to say that the complaint is loaded on their systems and has a ref number. Email states the case is waiting to be handed to a case handler and that it could take 4 months before this happens.
With the Satsuma complaint, they have confirmed that they have contacted Satsuma and asked for their files and not heard back – but they haven’t said I have a case handler yet. On the Lloyds complaint I’ve had no update other than the ref number.
jade says
Hi I have had an email r.e. uncle buck redress saying that my redress is £500 . It reads as if though they aren’t paying any redresses due to insufficient funds within the company. Please could you confirm if you know if this is correct? Sorry if it’s already been mentioned I searched posts but couldn’t find anything . Thanks
Sara (Debt Camel) says
yes I think that is correct – there is no money to be paid out.
Lynne says
That explains why they’re suddenly chasing me for a grand when the original loan was 500 – 5 years ago !
Sara (Debt Camel) says
not really, you are being chased by someone that has bought the debt aren’t you? Not by UB?
Lynne says
Yes but it seems a little odd they’ve only looked me up when they’re no longer in business and I heard nothing directly from UB all that time?
Sara (Debt Camel) says
I think your loan was probably sold a while ago. Debt collectors often wait years hoping you are back able to repay them
alan says
Hi, put in an affordability complaint to peachy last week, they replied saying they were rejecting it but if I want to appeal I should email them back with copies of my payslips, bank statement and credit report from feb to may 2019, the bank statements and payslips are easy enough to get but how do I go about getting a copy of my credit report for those dates, when I log into creditkarma or totallymoney I cant see an option to go back to 2019, im a little confused about how im supposed to do this, any idea?
Sara (Debt Camel) says
Your current credit report will do. But it is hard to email credit karma – I suggest getting your statutory report from TransUnion instead https://www.transunionstatreport.co.uk/CreditReport/AboutYou
Gintare says
hello who can help me?
my husband take a loan from loan2go of £ 1000 he has been paying £ 300 for three years, paid over £ 3000 and he still needs to pay. what to do?
Sara (Debt Camel) says
is this a logbook loan on his car?
Dave R says
Where a successful un-affordability claim is concerned – what’s the rule with removing adverse marks vs deleting a loan in it’s entirety from credit reports?
Lending Stream partially upheld my claim deleted adverse marks from my final loan with them – whereas others have deleted the loan entirely. Do I have any hope of getting them to remove the loan entirely?
If they refused to remove it and parrot some FCA phrasing at me – could I raise as a dispute and request CRAs to delete it?
Sara (Debt Camel) says
FOS doesn’t usually say a lender has to removed the loan unless there have been a lot of unaffordable loans, in which cases it sometimes suggests the later ones should be deleted.
The CRAs will do what the lender says.
John Michael says
Hi Dave,
I have also made an affordability claim against lending stream (only last week). I was hoping they would clear the loans from my report in their entirety but doesn’t look hopeful given some of their responses. Could you confirm the timescales in terms of them responding to you with regards intimation of claim to offer and the frequency of your loans over time to give me a gauge as to manage my expectations a little for my own claim … thanks
Sara (Debt Camel) says
No, they won’t. And there is no reason why they should.
John Michael says
Ok , Wasn’t sure as other myjar and safety net have confirmed they are doing so. Lending stream seem to be not as hospitable then
Sara (Debt Camel) says
some companies take an easy short cut, others follow the rules.
Dave R says
Hi John,
They were quite quick in all honesty, think I had a final response within 1 week and my claim was partially upheld. I had three loans with them over the course of 18 months. Loan 2 was taken out about 2 months after Loan 1 and I was paying both off at the same time. Loan 3 was taken a few months after Loan 2 was cleared.
Lending Stream agreed that they shouldn’t have given me loan 3 but didn’t feel anything was wrong with loans 1 & 2. They offered to refund around £600 and remove adverse marks from loan 3. The refund came through within 48 hours after accepting their offer and credit file was updated within the promised 45 day period.
However, this was one of the first final responses I had and I was quite naive in accepting it almost straight away. Their speed made me accept it more quickly than I should have done. In hindsight, I wish I’d taken the time to look into what they offered me properly and taken the case to the FOS. Read all the articles and as many comments on DebtCamel as you can – there’s so much amazing advice here from Sara and the community. I haven’t accepting anything else straight away since and have had much better results.
John Michael says
Hi Dave,
Thanks for responding that has been very helpful indeed. Yes Sara is doing a great job here! Excellent support community she has created with her advice and expertise.
Thanks
ALAN says
hi, trying to download a copy of my transunion statutory credit report, I cant find an option to do it though, anyone successfully done this recently? I googled it and apparently theres supposed to be a “print now” button you can click and save a copy of the report as a PDF as shown in the youtube link below but there is no “print now” button now
https://www.youtube.com/watch?v=kDMcURHfKT8&feature=emb_logo
Jonny says
Hello. On my credit file I still have £200 outstanding from a loan that was 3 years old and fully paid off – the company was called Fancy a Payday. I believe they trade as Response Funding and or THL but neither are responding to my emails. I can prove it was paid off and I really want this removing from my credit file or marked as paid like it should be. How can I do this if they won’t reply? Or does anyone have any contact details for “fancy a payday” by any chance?
Sara (Debt Camel) says
Fancy a payday was a brand name of Response Funding Ltd. The company was dissolved in 2019.
You should ask each of the credit reference agencies the loan appears on (check all three, see https://debtcamel.co.uk/best-way-to-check-credit-score/) to either correct the detail to say the loan is settled or to “supress” the loan if they cannot get the lender to agree as the lender has been dissolved. Send the CRA a formal complaint if they refuse.
Jonny says
Thanks Sara!
Lynne says
Guys – Mr Lender has concluded that they don’t believe they lent to me irresponsibly and they’ve offered me a ‘goodwill gesture’ of a £25 Amazon or Tesco voucher?? Hahaha! What? Has anyone else had this?? If anything I’d have just preferred the £25 especially as I’m now out of work!
Do you think I’m within my rights to ask for the £25? In fact cash4unow gave me £25 back AND the total loan that I borrowed so I got £280 from them as a ‘goodwill gesture’ which I was really pleased with as I’d only borrowed from them once.
Sara (Debt Camel) says
How many loans were there and much interest did you pay on the loans?
Lynne says
I’m checking that with them now although I’ve a feeling the amount borrowed (3 in total) was around £600 each.
Sara (Debt Camel) says
ok, so for small numbers of loans the size of each loan and the gap between paying off one and taking the next matter.
Lynne says
This is a direct quote from part of their email
Between your first and second loan there was a significant time period of 963 days and 554 days between your second and third loans being approved. Therefore, you did not trigger any concerns to display to us that you were reliant on short term borrowing.
Sara (Debt Camel) says
then unless you thank that is wrong then you would be VERY unlikely to win a complaint at the ombudsman.
I doubt they will give you £25 in cash. A £25 voucher costs them less than that… But you could ask.
Lynne says
No I’m not going to take it any higher but I just thought seeing as they’re one of the few lenders who are actually still trading and haven’t gone under they might offer a refund rather than voucher. Not holding breath…..
Carol h says
Hi, has anyone ever had a redress from one loan or any dealings with cash converters. I had a £1000 loan from cash converters as a one off, paying back £1999.99 I put in an affordability complaint and tomorrow is their 8 weeks, already thinking if they come back not up holding, would it be worth going to the FOS.
Thanks for any advice
Carol h says
Update: I hadn’t had a reply so I emailed to query this as it’s 8 weeks today, I sent the complaint 23rd Dec I then got an email asking for address etc then I got a copy of the loan information and a further email 4 Jan with an acknowledgement letter attached showing their complaints procedure. They have responded today saying they have until 1 March to give me a reply because they work from the date on the acknowledgement letter… So even though I’m expecting nothing it’s still annoying to have it dragged out even longer.
Carol h says
Update on this cash converter claim.
They replied today upholding the complaint and a refund of £1063.99.
I really didn’t expect this as I had only one loan with them albeit a large one.
Once again this page has been invaluable in your advise.
Thank you
Lynne says
Just a Quick update . Mr Lender confirmed I paid £67.50 interest on 2 loans. They’re not prepared to refund me the interest but ‘due to my circumstances’ have offered the £25 goodwill gesture, rather than a voucher. Can’t be bothered to argue further so have accepted!
Lynne says
Does anyone know, if you partially settled a loan does that render you ineligible for any unaffordability claim or redress? Ferratum told me that as I accepted a reduced settlement figure to close the loan that I wouldn’t be entitled to anything. I did a similar thing with 247 moneybox so if it they’re going to tell me the same thing
then I won’t pursue it.
Sara (Debt Camel) says
Ferratum told me that as I accepted a reduced settlement figure to close the loan that I wouldn’t be entitled to anything.
was this after you had complained?
Lynne says
I settled it last September and complained in January. Only because that’s when I raised a complaint with every lender basically.
That was their response after I complained
Sara (Debt Camel) says
Well Ferratum are wrong. Because you settled early, you paid less interest but you are still entitled to a refund of that interest if your affordability complaint was upheld.
Was this your only loan from them? How large was it?
Lynne says
It was relatively small I think £100. They said if I paid £16.80 (presumably the interest?) they’d close the loan. I was so desperate just to clean up my credit file as I was applying for jobs where they looked at such things, so I settled it.
Sara (Debt Camel) says
then you have no realistic chance of winning that affordability complaint. But it has nothing to do with the fact you settled it early.
Lynne says
All I wondered was, I did the same with 247 moneybox – made a small amount to close the loan. So I didnt know if it was worth escalating my claim in case they have the same response. The amount with them was around £350.
Sara (Debt Camel) says
Did you have previous loans from 247?
Lynne says
Yes I had around 3 or 4 loans with 247. They’re just about tne only people who haven’t responded at all to my unaffordability claim.
Sara (Debt Camel) says
were the loans continuous, few gaps between them?
they are in administration so expect this to very slow.
Lynne says
Yes I think I had 3 with small gaps between around £350 each
Sara (Debt Camel) says
that is pretty marginal to win a FOS complaint. My guess is 247 administrators may well reject the claim.
Lynne says
I have another problem. United Kash have suddenly started demanding a loan I owe from different money which I took out in November 2014. Can they legally do that after more than 6 years? I’ve had no contact with anyone since 2014 about this. It’s just typical they’ve appeared after all this time when I’m out of work. I don’t know how to reply so thought I’d get some advice first.
Sara (Debt Camel) says
Talk to National Debtline on 0808 808 4000 about whether this may be statute barred.
I also think you should also talk through your whole situation with them. The debt you are being taken to court for, other old debts that haven’t been repaid etc. From what you have said you have used a lot of different high cost credit lenders a few times. This means you are unlikely to get good refunds, especially as many have gone under already.
I think you should consider if a debt relief order would be a good way forward for you – National Debtline can explain this and the pors and cons.
John Michael says
I have just received an offer in from lending stream- below-.My view is that in terms of proximity loans 5 and 6 should also be refunded also-would you agree?
We have decided to uphold your complaint and offer a refund to you of £119.48.
Loan Number Loan account number Amount borrowed Date the loan was made
1 5378734 £400.00 2018-04-25
2 5576599 £700.00 2018-08-08
3 5615074 £850.00 2018-08-25
4 5718509 £1010.00 2018-10-14
5 6054316 £1400.00 2019-05-18
6 6066545 £1100.00 2019-05-27
7 6086546 £500.00 2019-06-09
8 6114912 £500.00 2019-06-29
Our decision
For loans 1 to 6, the money that you had available after your expenses were subtracted was more than the amount needed to pay us each month and would still have left you with some money to spend on other things. 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
To put things right, we’d like to take the following steps
• We’ll refund the interest and fees you have paid us for loans 7 to 8
• 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 loans 7 to 8
Sara (Debt Camel) says
what date did loan 4 end?
John Michael says
I paid back loan 4 on 26/10/18 at £1106.96 .at that time I had a myjar loan being paid out my account the next day 26/10/18 at £256.56 and also an everyday lending loan £298 on the same day as lending stream at 25/10/18 .
Thanks
Sara (Debt Camel) says
” also an everyday lending loan £298 on the same day as lending stream at 25/10/18 ”
is that LS loan on the list???
John Michael says
Apologies the lending stream loan 4 was paid back on 26/10/18 in full at £1106.96 . That same month a day before the lending stream loan 4 was paid on 25/10/18 I also paid everyday loans their monthly payment of £298 .I also had a separate loan with myjar at the same time that I paid £256.56 towards on 25/10/18 . The other two may not be relevant just thought I would flag it up to show I had another pay day loan and a high interest loan when paying back lending streams loan
Sara (Debt Camel) says
Then from LS point of view there was a gap of more than 6 months between loan 4 and loan 5.
But depite the long gap it is possible you would get 5 refunded at FOS because it is larger.
It is also possible you could get loan 4 refunded at FOS.
John Michael says
Ok thanks I checked my bank details and it’ seems I had money in from lending stream for 5 and then 6 without anything paid back albeit only for a day so May have been case pay the loan 5 and get loan 6 almost straightaway with the banking days causing both payments to be in without money showing the other way. I then paid loan 6 within 4 weeks.
In terms of them stating …We’ll remove any adverse marks we have left on your credit file at the CRA for loans 7 to 8….. would this be the loans in their entirety and searches for loans 7&8 ?
Lastly is it worth going back and confirming if they included 4,5 and 6 or is this a waste of time ?
Sara (Debt Camel) says
that is a good reason why loan 6 should be refunded.
I don’t see any point in going back to LS and offering to settle for 4-8. If you want to offer a compromise it has to be less than the most you are likely to get from FOS. You could offer 6-8…
If they say no you have to choose between a poor offer in cash now or going to FOS.
LS would not remove the loans, only missed payments or defaults.
John michael says
Ok thanks I will go back and offer 6-8 on basis believe can obtain 4-8 with FOS, time wise with FOS to investigate and provide decision upwards of 8 weeks I take it?
Thanks for all help here
Sara (Debt Camel) says
yes, they don’t normally negotiate but you may feel it’s worth a try.
Paul H says
Hi John Michael,
I was wondering how you got on with LS if you went back to them with a compromise regards loans 6 to 8. I had exactly the same word for word reply from them as you got. They said the same response for the loans I had with them for loan 1 to loan 7 and then the same wording again that although affordable it may have not been a good idea to lend to me for loans 8 to 14 so an offer to refund interest paid on them has been made. I would have a strong case for loan 5, 6 and 7 with the FOS even possibly loan 4 but was wondering if it was worth negotiating on just 6 and 7 to be included (only £200 extra for interest paid) or whether when you tried they just stuck to their final response. Thanks for any help you could give.
Dave R says
Another Lending Stream query:
For the loan where they have removed the missed payment/adverse information, it has the date settled as “June 2020″* when it should read September 2018 if in line with original agreement. They have agreed they never should have given me this loan. So whilst there’s no missed payment marker, under closer scrutiny it still looks like a very late settlement. For mortgage purposes this makes it look like the loan was a lot more recent than it actually was. Since they won’t remove the loan can I ask them to change the date?
*for context. Lending Stream didn’t take the final payment of £100 when they were supposed to and I never realised and they never chased me up for it It was only when I was trying to turn my finances around last year that I discovered an open loan with them – which I settled as soon as I saw.
Sara (Debt Camel) says
I think you can ask them to do this. Send the complaint to the Ombudsman if they refuse.
Dave R says
As expected, they aren’t agreeing to make the edit and are repeating the same phrase at me. I think this is disgusting to be honest. It doesn’t impact them in anyway to make the change and is perfectly fair. FOS it is then!
Sara (Debt Camel) says
The point to stress to FOS is not that the loan was unaffordable but it was LS’s fault that they did not take the last payment.
Tom says
I put in an affordability complaint a few weeks ago to moneyboat, got a reply from them last week with their final response rejecting my claim, I emailed them back (thurs 11th) with further information to appeal before going to the ombudsman, haven’t received anything in response since, should I just go ahead and open a dispute with the ombudsman now? if moneyboat were to reply following this changing their minds I could then just cancel the dispute with the ombudsman?
Sara (Debt Camel) says
I suggest phoning them up tomorrow and saying your case goes to FOS on Friday if they haven’t responded.
Tom says
ok will do, thanks
JP says
Hi,
Has anyone had their uncle buck redress paid? The email said that:
Payment of the above cash refund will be made to you upon conclusion of the overall Redress exercise for all customers, which is anticipated to be completed in the week ended 19 February 2021. You may therefore expect to receive payment as soon as possible thereafter. Payments will be referenced as ‘Uncle Buck’.
Wonder if anyone has been paid out yet given tomorrow is the deadline?
Sara (Debt Camel) says
This is a refund of payments you made after administration?
JP says
Hi Sara,
When UB went in to administration, my claim was assessed by the appointed administrator. Whilst my claim was to be higher, they have provided me with an redress amount which is significantly lower
I understand that redress payments are to commence from 22nd Feb onwards.
Sara (Debt Camel) says
If your loans have been repaid, the administrators have warned that there will be no cash for distribution. See category 3 in https://www.unclebuck.co.uk/questions-and-answers/
Susan says
Has anyone made affordability claims while on a debt management plan?
Sara (Debt Camel) says
yes! If you win the complaint your DMP is going to finish much sooner.
Susan says
Will it not effect my plan for example if I cant afford my DMP amount each month and they make new offers to my creditors, what I mean is Will it leave a black mark against my name
Sara (Debt Camel) says
are you in a DMP and you are wondering about making affordability complaints?
Or have you made affordability complaints and you are wondering about a DMP?
Susan says
I’m already in a DMP, I just want to know if I should pursue and if it would work against me with my creditors
Sara (Debt Camel) says
I think you should make claims if you feel the loans were unaffordable and lead to you needing more credit and them DMP.
It won’t work against you with your creditors, they know they are already being paid as much as you can afford.
Susan says
I recieved this email this morning asking for bank details but reading the comment looks like we might not be getting anything
Sara (Debt Camel) says
from QuickQuid? They just need to know your bank details are right. You are only likely to get a small percentage, but it shouldn’t be nothing
Susan says
No it was from uncle buck, still not heard anything else from quick quid or peachy or sunny or moneybox247
Chantal says
Hi,
I’ve received an email this week from SafetyNetCredit confirming a redress of £1868after using your email template, thank you! I used the same email to make a claim with Bamboo Loans for the same time period and a similar amount of borrowing which was rolled over, with a top up loan. They’ve rejected my claim, should I go back to them and tell them I’ve had another claim upheld or go straight to the Ombudsman?
Sara (Debt Camel) says
Bamboo probably won’t care about that.
You could offer a compromise, to say you would accept less than all the interest back? But if you want the full refund you may as well send this to FOS now.
Alan says
Hi Chantal,
How long did it take to get your response from safetynetcredit after sending in the affordability complaint?
Chantal says
4 weeks from the date of complaint, and they transferred the money 48hrs later
Paul H says
Hi Chantal,
Firstly congratulations on the redress offer from Safety Net Credit, if you don’t mind me asking how long ago did you submit your complaint with them before they answered. Did they make you wait the full 8 weeks and did they ask you for any evidence before they made you the offer or did they just go off the vast number of times you borrowed from your limit. Thanks for any help you could give.
Sara (Debt Camel) says
You shouldn’t have to send SNC extra info as they could see your bank statements.
Do you still owe them money?
Paul H says
No finished a payment plan with them end of 2018 but asked because started with them early 2013 (so almost 8 years ago). Went in payment plan 2014. Then 3 months later they gave me limit of £500 plus again and kept increasing it, so payment plan again 4 months after that (in 2nd payment plan for over a year till Feb 17). Then gave me £500 plus limit again 2 months later and ended up in 3rd payment plan till 2018. I was living and working abroad for all so had no wages going in but did have £7000 incomings and outgoings each month with all pay day lenders & friends etc borrowing me.
I do have a question Sara, I got a notification from Credit Karma this weekend to say something new had been added to my report, when I looked it said Safety Net Credit had reactivated my account and was it me? When I logged into dashboard on SNC it does still say account closed with them and to re-open to ring them. I just thought it was too much of a coincidence that I put in a complaint with them just over 2 weeks ago and then get the notification to say account re-opened. It shows balance zero so don’t think it will have a negative impact but don’t know why they’d reopen it without me even asking.
Dave R says
Hi Paul,
From my side, Lending Stream took 6 weeks to issue me with a final response. Full redress payment of just over £5k which was amazing. And the money was in my account within 7 days. Removed from my credit file within 30 days. I didn’t need to send them anything other than the initial complaint email.
I looked through their letter and checked the amount in terms of whether it was accurate and it was pretty bang on. I wish they were all this easy to deal with!
Chantal says
Hi Paul, they got back within 3.5 weeks, they said that they realised that they had overlent and repaid within 2 days. I didn’t supply the details of individual transactions (I’m not even sure I could have kept track of them)
Paul H says
Thanks Chantal, since I wrote the message on here I was able to log into the SNC website and although it says my account is closed it still allowed me to view all the statements with them even dating back to 2013 so it shows all the transactions and interest paid. I am writing that because it may help others if they don’t know what they borrowed with them.
Good to here they repaid so quick. In truth both Ferratum and Mr Lender once I agreed to the redress offer refunded back to my bank account within 24 hours. Like someone else wrote on here Ferratum was willing to compromise and up their initial offer so for anyone reading these comments it’s worth going back to Ferratum if you don’t agree with their first offer.
Back to SNC like I mentioned above I still wouldn’t know why SNC would re-open my account on my credit file since I sent my complaint without me even asking, it’s been closed since 2018
Dave L says
Escalate the bamboo loan to the ombudsman, they rejected my complaint outright yet rolled over as seen as an adjudicator found in my favour removing over £4500 in interest
Lee says
how long after acceptance do satsuma take to pay out?
JaneC says
Hi Lee
Satsuma accepted my adjudicators findings on 4th Feb. I received a letter from them on 13th Feb listing what they were going to pay and said a cheque would be sent within 14 days. Not received it yet.
Dave R says
When did you submit your claim to the FOS Jane?
I sent mine in early January. I know that they’ve reached out to Satsuma but I’ve not heard a peep for a while now… am aware it will take a long time…
JaneC says
I submitted it to FOS in March last year!! Satsuma delayed at every opportunity and used Covid as an excuse in my opinion. My adjudicator asked them to provide the credit checks on my 7 loans. They sent them through in dribs and drabs which meant she had to keep going back to them. Because of the pandemic the FOS are giving them longer than normal to provide the information which I understand but when they are requesting the same information I didn’t agree they should be given longer.
Liza says
Hi, I submitted a complaint 1st Feb 2020. They didn’t accept my complaint and it was sent to FOS they have continued to drag their feet with providing the FOS with full details. 2nd February they had provided all details then on the 5th I was advised they’d accepted the findings of FOS however would contact myself with an offer. I was advised I needed to let the FOS know by 19th Feb. No response received. Contacted Satsuma to be told they have 28 days and wouldn’t respond until then. I expect another 28 days after that. Appalling service unless they are persuading you to take loans out.
JaneC says
FYI my cheque arrived today so only took a week after their letter.
JR says
Hi Sara,
So 3 weeks ago I submitted a complaint to Very about unaffordable lending since I opened an account with them in 2010. They initially gave me a credit limit of £600 which was manageable, but in 2012 they increased it to £1800. Being fresh out of university I thought this was great and quickly maxed out the limit and unsurprisingly struggled to pay it back, so come 2017 they reassigned the balance to their debt recovery agency and I agreed to pay £30 per month since then.
I received a letter from Very today to say that they agreed they were in the wrong and have agreed to pay a redress of £4,477.70 to my surprise!!! They also agreed to get in touch with the recovery agency to remove the default from my credit file which I’m very happy with.
Now, I have already paid back the debt to the agency and the balance has been paid in full for a while now. Where do I stand with the balance I’ve paid to that agency? If Very have agreed to give me that redress, am I in standing to contact debt recovery and ask for the money I gave them back?
Sara (Debt Camel) says
Good result and quickly!
It sounds as though the refund they are sending you is intended to cover the cost of repaying the debt collector.
Lynne says
That’s great news. I’m waiting to hear from both JD Williams and Next about something similar. I initially had a £200 credit limit with both but very quickly in a matter of months that limit became £3,500 on both accounts. It’s good to hear people’s success stories in such matters!
JR says
Thanks Sara!
I wasn’t too sure as the redress from Very said;
Standard Interest = £1,664.15
BNPL deferred interest = £698.48
Administration charges = £552
8% simple interest = £1,563.07
Total = £4,477.70
I just wasn’t sure if that was all just interest only and didn’t include the actual credit?
Good luck with yours Lynne!
Sara (Debt Camel) says
You only normally get the interest and charges refunded.
Lynne says
Peachy have confirmed that I am due a redress of £467 but that I’m likely to get less than 2% of that!
Simon says
Morning
Just wondered if anyone has received a redress from Lending Stream recently or even heard from them for that matter?
I’ve been waiting for them to make contact since the FOS ruled in my favour back in November but I’ve not even been asked for my bank details yet to arrange the refund.
I can’t get hold of anyone on the phone, the live chat is a joke and although the FOS have chased it up for me a few times Lending Stream seem to be ignoring them as well now.
If anyone’s had a similar experience I’d be interested to know how you handled it? Many thanks.
Sara (Debt Camel) says
LS accepted the adjudicator decision?
If they have, I suggest 2 things.
1) leave them a very poor review on Trust Pilot: https://uk.trustpilot.com/review/lendingstream.co.uk
2) tell the FCA (their regulator) what you think of their very slow payment process.
The FCA won’t intervene in your case but hopefully LS will hate this.
Email to consumer.queries@fca.org.uk. Copy this email to stuart@global-analytics.com and chris.deboer@global-analytics.com
_______________________________________________________________________________________
Subject: Gain Credit (689378) trading as Lending Stream have not refunded me after 3 months
Say that LS have agreed to refund you following a FOS decision on dd/mm/yy which LS accepted, attach the email confirming this. But you have still not be paid despite you contacting them numerous times, the phone isn’t answeres, the live chat is hopeless and there is no email for you to use. Say you think this shows a contempt for their customers and as an authorised firm they should be made to have an email address for complaints where people’s problems are actually addressed, not just brushed away.
Simon says
Brilliant, I’ll get onto that now. Thank you.
Tom says
Hi Simon
Has this yielded any results?
I’m having a problem with LS at the moment, and they are in fact lying to me. Their recent position has been that they need confirmation from the FOS before they can process the redress, and that they haven’t got that. They do have it, have had it for some time and I have a copy of it!
Aaron says
Hi Sara,
I received an email from Uncle Buck (their administrators anyway) yesterday confirming I am due a redress of £305.24. I provided my bank details, however I have seen some comments on here saying there’s no money to be paid?
I fall into Category 1, will i get paid? if so do you know when at all?
Many Thanks
Sara (Debt Camel) says
Category 1 – so you have been making payments since administration started to a debt which the administrators have decided is unaffordable? How much have you paid since then to this debt?
(This is NOT the same as the redress for unaffordable lending.)
Aaron says
Hi Sara,
I paid off the remainder of my loan (£305.24) in full back in April 2020. The email states that I am entitled to redress, and it has been upheld at the value of £305.24 and “This represents the final amount due to you. There will be no further re-assessment”
Many Thanks
Sara (Debt Camel) says
Then that was a payment after UB went into administration, you are in category 1 and you should get the whole amount back.
Aaron says
Brilliant, thanks for clarifying Sara!
It says to expect soon as possible after week ending the 19th Feb, so should I expect payment before the end of the month do you think?
Sara (Debt Camel) says
honestly I wouldn’t count on it. I hope it will come by then but don’t plan everything around it.
Peter says
Hello all,
I had a loan balance with Uncle Buck. It was sold on to Lantern and I pay them monthly. However, I have now received an email confirming that my affordability complaint against Uncle Buck has been upheld, and a small redress payment will be made. The debt entry cleared from credit reference records.
Does this development have any effect on my remains balance being collected by Lantern? Is it enforceable? Remaining balance is a touch over £400
Regards Peter
Sara (Debt Camel) says
How large was this loan originally? How much had you paid to UB or to Lantern?
Peter says
The loan was for £600. Total repayable £900 or thereabouts. The balance was approx £470 when Lantern took it. I am only paying them £5 per month presently.
Sara (Debt Camel) says
So you had paid UB about £430 when the loan was sold? How long have you been repaying Lantern?
Peter says
6 months approximately.
Sara (Debt Camel) says
OK, then I suggest you email Lantern and explain the the UB administrators have determined that the loan that was sold to Lantern had been missold. Ask Lantern to:
– remove the default and any negative information from your credit record for this loan
– say you have paid £430 to UB when the loan was sold and £30 to lantern so far, so ask Lantern to reduce your balance to 600 – 430 – 30 = 140.
– say you will carry on paying this reduced balance at £5 a month.
I don’t know what they will reply.
Dave R says
Question re SwiftSterling/MMP Financial:
They rejected my dispute about a month or so ago but I found the decision after the appeals deadline as it went into my junk (which I do also check religiously, not sure how I missed it). I’ve contacted them twice since outside of the 21 day appeal deadline and they have just completely ignored me. All I want is missed payments removed from my credit file to be honest. Is it worth raising a dispute with Transunion as chances are nobody will respond to them and they may then suppress the account information?
Sara (Debt Camel) says
Well you can try TransUnion – say you have been trying to get a reply from the administrators but they aren’t answering, so you would like the record supressed..
hugo says
Hi, wonder if you could assist. I have had a refund of £50 from an original refund value of just over 2k from Wage day Advance. Were they supposed to have deleted the refs to it on my Transunion report as it still shows 5 loans. All paid of course. How long do i expect these to be deleted? I have emailed the Recievers but have had no response so far. Any ideas?
Also applied for two more refunds from Pounds till payday and quick quid and pounds to pocket.
I notice you can apply for tax refunds from payday loan redress’s is this correct? If so what do i need to send to HMRC?
Thank you
Hugo
Sara (Debt Camel) says
Yes those loans should have been deleted. You now need to contact the Credit Reference Agency where the problem is showing – Experian, Equifax or TransUnion. Say you can no longer get an answer from the administrators so you would like the CRA to “suppress” the following credit records as they are inaccurate. If they refuse, send the CRA a formal complaint and this can be sent to the Financial Ombudsman.
Sara (Debt Camel) says
re tax deduction. There wouldn’t have been any for refunds where the company was in administration.
Tom says
Hi,
Just wondered if anyone has complained to fernovo and if so how did you get on? Are they one of “the better” ones to complain to?
Lynne says
When a complaint is escalated to the ombudsman is it the case they need to see old bank statements etc? My loans are so old and for relatively small amounts that I think maybe it’s not worth the hassle going down this route.. can anyone convince me otherwise?
Sara (Debt Camel) says
How much hassle us it to ask your bank for old statements? If you are making several FOS complaints over the same period, your statements only need to be supplied once.
But what matters is how many loans you had from each lender and whether there were gaps between them. If you want to win cases with a small number of loans from that lender it really helps to have those bank statements.
Frank says
Hi,
I’m just wondering if anyone would have any idea on the general wait time on complaints being investigated atm with the FOS. I obviously understand with Covid 19 situation they will be longer than normal?
I have a complaint in with the FOS against Satsuma. Received an email back from the FOS on 20th of November 2020, saying they have asked satsuma for information about my complaint and asking for more information from me. I sent the information they asked and received an email back on 9th December 2020 , saying this had been received.
Hadn’t heard any update so I contacted FOS at the start of February to see if there was any update.
I got a reply back on the 10th of February saying the business had responded to their reply for information and my complaint was waiting to be investigated.
So just wondering does anyone have a rough idea on how long I will have to wait?
Thanks.
Mike says
Just had a response back from my initial email to Moneyboat, requesting that I send them bank statements. Do I need to do this, and can they refuse it if I don’t? Also they were threatening to report me for fraud but it seems this is just a tactic to throw people off.
Is there a structured response I can send to their request?
Sara (Debt Camel) says
How many loans did you have from them and how large?
Mike says
7 loans between June 2017 and June 2019, mostly £200, one £300 and £400
I should point out, I have already supplied my credit file to them as part of the initial contact
Sara (Debt Camel) says
yes their threats of reporting from fraud seem designed to get people to drop their complaints.
I don’t know if they actually look at bank statements – asking for them may just be another way to try to put people off – but it’s worth sending them
Joseph says
Hello Mike, Money Boat (for me) were probably the most difficult and rudest lender I dealt with. Rejected everything right up until Ombudsman forced them to make things right. Stick with it, and good luck! Ignore the empty threats like Sara said.
Mike says
OK, thanks for the feedback Joseph. I most certainly will be pushing them until I get and outcome, and I’m prepared to play hardball. If their emails are as nasty as the first one, I may consider a further complaint about their conduct once I’ve got the main issue sorted. On the plus side, I sent a number of emails at the same time to various companies and Piggybank came back to me and offered to refund everything (shame I’ll probably see less than £100, but its better than nothing I guess)
Xubo says
Anyone has there money from uncle buck yet
Sara (Debt Camel) says
Are you expecting a refund of interest?
Xubo says
Has anyone had success in claiming back from satsuma? I’ve had two loans with them at the same time one for £700 and one for £400 both at the same time, which I struggled to pay
I’m in a dmp and they are one of my creditors
Sara (Debt Camel) says
Yes! Together that is a lot of money. Even if you only get a refund for the second loan that would speed up your DMP.
Xubo says
Thank you ill get on to it
Andy says
12 months and waiting not a peep so don’t hold out much hope of anything speedy. Joke really.
Xubo says
Yes they asked for my bank details on Thursday and said I was due £205
James says
Payments from Uncle Buck will be made on the week commencing 8th March
Xubo says
Ah ok, I thought the way the emailed was worded I’d maybe get before then
Thank you for the response
Holly D says
Hi Sara,
My bank recently provided me with paper copies of my transactions for 2011 – 2013 inclusive. In among these transactions were amounts received from Minicredit Ltd, Mem Consumer Finance, and Cash on Go. Can you confirm if any of these companies are still operating?
Thank you.
Sara (Debt Camel) says
Minicredit – long gone
Mem Consumer Finance was a brand name of Payday UK – now in a Scheme where the deadline to make a claim has passed
Cash on Go – that was Peachy, now in administration and the deadline for making claims has passed.
Holly D says
Thank you Sara
Lynne says
Does anyone know when Different Money cease trading please?
Sara (Debt Camel) says
Company was dissolved in 2018
JR says
Anyone got any successful irresponsible lending claims from Vanquis card?
I lodged a complaint last month to them about increased credit limit from £250 to £1500 when I was a student/newly graduated and got myself into financial trouble – this was back around 2012. Was eventually sent to a debt recovery agency and paid back a few years later.
I submitted the same complaint to Very and got £4,477.77 back, so I’m wondering if Vanquis are as acknowledging?
Lynne says
I had no luck at all with Vanquis sorry.
Joseph says
Yes JR, I did back in 2019. I found them (out of the 3 different credit cards I was complaint to (Vanquies, Aqua & Capital One) to be the easiest. That said they of course rejected my complaint and took it to the ombudsman, but they accepted the adjudicators decision and it didn’t have to go the ombudsman. Back in 2019 though, they use the refund to close my account (balance of £500) owing. I found it a little strange how the exact refund could have been £500 exactly and called them up to ask for total interest paid + charges to be calculated and they sent me additional cheque of £144 as well, so make sure their calculations are spot on. Good luck ! Joseph.
mike says
So I got back some interest from a couple of years ago, but the FOS said I could only go back 6 years.
This meant I missed out on additional refunds.
I notice that they now say “or within 3 years from which you could have reasonably known.” so does this now mean I could have gone back further?
If so, I don’t think this is fair.
Why does someone who complains now suddenly get the extra years?
Sara, could you explain this process please to clear things up maybe?
Sara (Debt Camel) says
How long ago was this refund? Who was the lender?
mike says
I won the case in 2017 but the loans Uncle bucks) were from 2006-2014 but the FOS said I couldn’t have refunds for 2011-2014 as they could only go back 6 years, but now people can go back 9 years can’t they?
I remember at the time there was much discussion as to why the FOS couldn’t come to a decision as to which it was, so I am a bit perturbed that decide now that you can go back as long as you want as long as you didn’t know you could claim until recently.
Is that about right?
Is there anything I can do about the case?
Sara (Debt Camel) says
did you ask for the decision about the older loans to go to an ombudsman or did you accept the adjudicator decision?
mike says
I accepted the decision that I couldn’t claim for the older loans as I didn’t know any different. I thought that was the way things were. Nobody mentioned that I could question this decision.
The adjudicators decision about the claim in general I asked for an Ombudsman final decision which went in my favour.
Sara (Debt Camel) says
I am not sure there is anything you can do.
Uncle Buck is in adminstration and there is no (zero) money to be paid out.
If you didn’t question the 6 year ruling, then the Ombudsman would not have looked at it. FOS did not issue its lead decisions on the 6 year rule until August 2018.
mike says
Well, I was always taking advice from this site and I can’t remember you saying that it was an option to dispute the 6 year ruling?
But anyway, if Uncle Bucks is in admin, it’s not worth it.
But I was just wondering your advice for others in the same position, who were all told they couldn’t do this until August 2018, don’t you think it quite unfair for them?
Sara (Debt Camel) says
You didn’t ask about this in 2016 when your UB refund was, you didn’t mention older loans were been disregarded.
If you had, this was a typical reply I was giving in 2016: https://debtcamel.co.uk/quickquid-payday-loan-refunds/comment-page-1/#comment-204233
The first indication that loans over 6 years would be looked at was November 2016. But that was only an adjudicator decision and many cases remained on hold for nearly 2 years until the FOS lead decisions were issued in summer 2018, when the cases on hold then started to go through.
While cases were on hold I typically said that if people only had a few older loans they should consider saying they would like them disregarded to get a faster decision. eg https://debtcamel.co.uk/asking-wonga-refund/comment-page-1/#comment-218120
Xubo says
This might be the wrong page but if a put a complaint I against Very and littlewoods do I have to do each catalogue separate when tho thee kinda the same Company
Sara (Debt Camel) says
This is the better page https://debtcamel.co.uk/refunds-catalogue-credit-card/
Lynne says
I just heard from the Ombudsman that as 247 moneybox are in administration they can’t look into unaffordable lending on my behalf and that I need to contact the administrators directly. Just in case anyone was waiting for news on that one.
Chris says
The 247 Moneybox Administrators contacted me and gave me what they said was an automatically calculated redress claim. They used some kind kind of algorithm based system to work it out.
The calculation was just under £600 but as ever, they said it’s extremely unlikely that I will get all of that. I understand that but it would be nice if they gave us some date for when we will get it, whatever ‘it’ is rather than stuff like “possibly the second quarter of the year” or something like that, which leaves too wide a scope to be of any use.
Lynne says
Oh right thanks. Do you have an email address for the administrators please? Only when I went to 247 website it still just says to contact to them via their own customer service email address and given the fact they’re no longer trading I’m not expecting a very quick response (if any!).
Chris says
As far as I know, you should be able to contact the administrators on the SAME email that is on there customer.services@247moneybox.com and phone number 0207 183 8078, as they have taken it all over.
Adele says
Hi has anybody had a loan from Loans to go (prac financial)
Can this be claimed against for irresponsible lending?
I don’t know how I got this loan I think it was through cash panda.
I put my details in the site and the interest seemed low next min I had £500 in my bank and the email said a higher Apr. I didn’t get the choice of how long I wanted to pay back and within minutes I owed a total of £1980. I tried to cancel this but for some reason I couldn’t,. Now the debt has been sold on to bw legal.
Thanks in advance
Sara (Debt Camel) says
yes, lots of success against L2G.
See the special page on these horrible loans which has a template for complaints about them: https://debtcamel.co.uk/worst-loan-in-britain/
Steve says
Does anyone have a estimated time of an FOS adjudicator picking up a complaint?
Got an update this week stating they’ve got all the information they need about my loans from the company and it was just waiting to be investigated now.
Sara (Debt Camel) says
who is the lender?
Steve says
The loans are with satsuma. 9 in total.