Did your payday loans cost so much when you repaid one you had to keep on borrowing?
You can get a refund of the interest you paid on unaffordable loans.
It’s easy to ask for a payday loan refund using the free template letters here. The letters work if your payday loans were repaid or you still owe money.
The comments below this article have thousands of stories of the refunds people have got using these letters. It is a great place to ask questions!
Contents
What are “unaffordable” loans?
Was a loan affordable just because you repaid it?
No! If paying a loan left you so broke you had to borrow again – from the same lender or a different one – it was unaffordable!
The regulator says:
“the borrower should be able to make the required repayments without undue difficulty, whilst continuing to meet other debt repayment obligations and reasonable regular outgoings.”
That means a payday loan is only affordable if you repaid it on time and you could still manage to pay your other bills and debts.
Payday loans are meant to solve a short-term problem. If you kept repaying one then getting another loan soon after, the lender should have stopped lending to you.
If the loan was small and it was the first loan or second loan from a lender, the lender may not have realised the loan was unaffordable for you. But it was irresponsible lending to just carry on giving you more loans.
Many lenders ignore obvious signs of problems such as your loans increasing in size, or borrowing again soon after repayment.
How much compensation can you get?
You don’t have to calculate this. Just ask for a refund from the lender and see what you are offered. This is simple and it works well.
The Financial Ombudsman has seen tens of thousands of payday loan affordability complaints.
A typical decision by the Ombudsman is that the payday lender should refund all the interest you paid interest after the third, fourth or fifth loan.
But if your first loan was large, or was rolled over several times you could get a refund from just one loan.
Which lenders can you get refunds from?
You can complain to lenders that are still in business, even if they are no longer lending. These include:
Lending Stream, Cash Converters, CashASAP, Drafty, Dot Dot, Fast Loan Uk, Fernovo, Fund Ourselves, Kabayan, LoanPig, Mr Lender, Moneyboat, MyKredit, My Finance Club, QuidMarket, Savvy, The Money Platform, WageMe, Wizzcash,
See this email list for payday lenders for a longer list and all the contact details to use.
If the lender has gone into administration, including CashForUNow, Piggybank, Ferratum, Oakam, Safetynet Credit, Tappily:
- make a claim to the administrators – there is normally a simple form for you to complete, see the lender’s website for details – but there will be a time limit for doing this.
- you may not get much cash back but this is very easy to do. A balance may be reduced or cleared even if there is no cash to distribute. And if you win the complaint any negative marks on your credit record will be removed.
It is probably too late to make claims to other lenders who gave up years ago, see this list.
For longer-term loans there are better template letters to use on other pages:
- doorstep lenders and guarantor lenders,
- Loans2Go – the worst loans in Britain!
- 118 Money, Likely Loans, Bamboo, car finance, bank loans and other long-term loans.
Do this before, before you send in a complaint
Doing these things now will make your life easier later.
Get a copy of your TransUnion statutory credit report and keep it. After complaints are started, sometimes loans are deleted and you may want the full report if you later have to go to the Ombudsman.
If you still owe money to the lender, read Will an affordability claim hurt my credit record, and other questions. These looks at your options for stopping paying, the effect on your credit record etc.
If the rest of your finances are difficult, look into a Debt Management Plan (DMP) where you make one affordable payment a month to StepChange. This gets you into a safe financial position as these affordability complaints can take a long time to go through at the Ombudsman. Winning a complaint then speeds up the DMP.
Unless you can afford to make this month’s payment without borrowing again, cancel the CPA to the lender at your bank. Otherwise the lender may take the money and you will be in a mess.
If your loan was sold to a debt collector you complain to the original lender. But also tell the debt collector that you are disputing the debt. It is a good idea to carry on making payments to the debt collector if they are affordable.
Start your complaint & get loan details
Find the lender’s email address for complaints from this list.
Put “AFFORDABILITY COMPLAINT” as the subject of your email:
You should never have given me these unaffordable loans. Paying you each month left me with too little money so I had to keep borrowing to get through the next month.
You should have realised from the number of times I borrowed that my debt problems were getting worse. It was not responsible to continue to lend to me. [Add more details eg how often you borrowed or rolled loans if you know them, how the amount borrowed generally went up etc]
[Include/change this if your credit record would have shown big problems:] My credit reports would have shown all my other debts and problems including late payments/defaults /CCJs/debt management.]
I am asking you to refund the interest and any charges I paid, plus statutory interest, and to delete any negative information from my credit record.
[delete this sentence if you know what all your loans were.] I know the difficulties your loans have caused me but I no longer have all the loan details. Please send me a list, showing for each loan when it was taken out, how much interest and charges you added, and what I repaid. This will enable me to assess any refund you offer me.
[delete this sentence if none of your loans were sold.]If a loan was later sold to a debt collector, please inform me of the date of sale and the name of the debt collector.
Some ways to improve this
Add any other points that help you describe what happened to you. You don’t need to list the loans – the lenders knows them.
Some examples:
- “I took out another loan with xxxx to pay you.”
- “Sometimes I borrowed to pay the rent and then had to top-up to get money for food.”
- if you weren’t treated fairly while you were borrowing or when you could not make a payment, add a bit about this.
You can attach bank statements if you like, This is a good idea as these show how unaffordable the loans were for you. If you have gambling showing, this helps your complaint, it doesn’t harm it.
I don’t know if many lenders actually read what you send them. I
it’s easy to make these complaints – you don’t need to calculate what refund you should get or quote laws.
Only one loan?
The template refers to multiple loans because that is what normally happens with payday lenders.
When you only had one loan and it was large, read Refunds from large loans and use the template there.
If you only had one loan and it was small, this is going to be a very difficult complaint to win. If you have borrowed once or twice from 5 leaders, that is much more difficult to win an affordability complaint than having 4 or 5 loans from two lenders.
Waiting for a reply from the lender
This email starts your affordability complaint.
They may send the list of loans first and later respond to your complaint. So don’t be surprised if you get sent info on the loans but nothing about your request for a refund.
When you get your loan information, you can send in more details about your complaint if you want. You don’t have to do this, your complaint has already begun and the lender has to reply.
The lender should reply to your complaint within 8 weeks from when you send the email, not when they acknowledge it. Make a note in your diary for 8 weeks time and chase the lender up if you don’t get a reply.
Don’t be surprised if you have to wait until the end of the 8 weeks to get response – this is common.
Send your bank statements or other information?
Some lenders ask you to send them a copy of your credit record, payslips or bank statements.
Credit record – the lender can check your credit record themselves if they want. But you should download a copy of your credit record asap as the Ombudsman will ask for it. Don’t put this off, the sooner you get a report downloaded, the further back it goes which is good.
Don’t send payslips – they won’t help an affordability complaint and the ombudsman never asks for them.
It is a good idea to send bank statements. But think twice about the cost of copying and postage if there are a lot. Some lenders seem to ignore them if you do send them.
Again this is a good point to get those bank statements even if you do not want to send them as they will help an Ombudsman claim a lot. You can get them going back at least 6 years even if the account has been closed.
Lender says No or makes a poor offer
If the lender rejects your complaint or offers you a small amount, don’t be depressed. You may still have a very good case!
It is easy and free to send your case to the Financial Ombudsman where many thousands of people have won their payday loan complaints, despite being rejected by the lender.
Give up?
Some lenders try to make your case sound bad when it isn’t. People have had large amounts refunded after a complete rejection!
Just ignore any of the following comments, they do not mean you have a weak case:
- they relied on your loan applications and you didn’t give accurate facts – see Lender says I lied for more about this;
- you repaid some loans early – this doesn’t prove the loans were affordable, just that you were trying to save interest;
- your borrowing didn’t go up every time – irrelevant, what matters is that you kept borrowing;
- you had a good enough credit score or they didn’t legally have to check your credit record – if you only had one or two small loans that is true. But if the loans were large or you kept borrowing, they should have looked more closely;
- your loans are over 6 years old – the Ombudsman will look at these even if the lender says they won’t!
A good enough case to go to the Ombudsman?
If you don’t know what to do, ask in the comments below this article. Accepting an offer settles your whole complaint – you can’t change your mind later.
Don’t worry that you will lose a small offer by going to the Ombudsman – this doesn’t happen.
Some points to think about:
- if you are offered a refund on only a few loans, don’t accept it if you think the lender should have realised a lot of the other loans were unaffordable;
- an offer to write off your current balance may sound convenient … but it may be very poor if you should get a refund as well;
- if getting defaults or late payments removed from your credit record is important to you, are you happy with what the lender is proposing to do? Don’t assume your credit record will be cleared if the lender didn’t mention this.
One or two loan cases are hard to win at the Ombudsman. It’s probably best to give up on one or two loan cases unless:
- the loan was large. Here is one single loan case that was won even though it was an installment loan and the borrower had a good income. And another single loan case for a loan of £1,000. You can win cases for smaller amounts if the repayment would have been a large amount of your income; or
- you still owe money.
Don’t delay too long – there is a 6-month time limit after a lender rejects your complaint to send the case to the ombudsman. When you aren’t sure, send the complaint to FOS. This is easy to do – let FOS make the decision.
How to send a complaint to FOS
Put in a separate complaint about each lender.
Don’t wait until all your lenders have replied before sending the first one to the Ombudsman!
FOS’s “complain online” option is easy and takes you through your complaint step by step.
You can just copy what you said in your complaint to the lender. You can add more details, for example, if you disagree with what the lender replied to you.
If some of your loans were over 6 years ago, tell the Ombudsman when and how you found out about these complaints. For example:
“I knew the loans were causing me difficulty in 2016, but I thought this was my fault for being bad with money. I didn’t find out that the lender should have checked the loans were affordable until June 2022 when my brother told me about these claims/I saw an advert from a claims company on Facebook/I read an article about these claims” – change this so it is right for your case!
Things to attach:
- the reply you have had from the lender.
- bank statements if you have them. Ideally from 3 months before your first loan until the last loan was repaid or you defaulted on it. This strengthens your case, showing how unaffordable the loans were. You can still get bank statements even if your account is closed – if you don’t have them, start the process of getting them now, don’t wait until FOS asks for them.
- a copy of your TransUnion Statutory credit report
- a copy of the credit agreements for the loans if you have them. If you don’t, don’t worry, FOS will get them from the lender.
What happens after you have sent a case to FOS
You will normally be contacted within a couple of weeks and asked for a copy of your credit record and your bank statements if you haven’t sent these. If you have sent these on one complaint, then when you complain about a different lender they will use the ones they already have.
After this initial contact, your case will wait for the lender to send FOS your case file and then wait to be picked up by an adjudicator who will make a decision on it.
If you are still making payments to the lender, tell the lender you want to reduce these to an affordable amount. This will make waiting for an Ombudsman decision much less stressful for you.
The Financial Ombudsman has a two-stage process. Most cases are settled by the first “adjudicator” stage but about 10% go to the second “Ombudsman” stage.
A few problem cases
Don’t ask for a refund:
- if you are bankrupt now or have been bankrupt in the past – any refund would go to the Official Receiver.
- if you are in an IVA, as refunds will go to your IVA firm not to you. If your IVA has finished the refund may still be sent to your old IVA firm.
- if you are in a DRO now, getting a refund may mean your DRO is cancelled!
More help
You can ask a question in the comments below – you may get a reply from someone who has been in your exact situation.
Don’t use a claims management company. They are expensive and often incompetent. It’s easy to do this yourself and you can ask questions below and get replies from other readers who have done this.
Card & catalogue affordability complaints
Can you get an overdraft refund?
Could a Debt Relief Order help you?
Paul says
Hi Sara,
sent Mr lender a complaint via email; i received in the mail a letter that if i wanted to pursue the complaint to complete a form with series of questions.
A couple of questions if you may kindly guide me how to answer them.
1) Please could you confirm as to why you believe these loans to be unaffordable
2) What would you deem to be a suitable outcome to your complaint?
3)Can i elaborate on the difficulties that were caused as a result of these loans
Once i send this information back they will conduct a full and thorough investigation.
First not sure why the send this via post rather than email as they would have gotten a quicker response. It feels like they are stalling
Sara (Debt Camel) says
They are being difficult. They have to answer your complaint even if you don’t reply.
Do you have a list of your loans?
They send by post as they are being difficult. Did they enclose a Stamped Addressed envelope?
Paul says
hi Sara
thanks for answering; no self stamp addressed envelope. they included a list of the loans
Sara (Debt Camel) says
So As I have just said to Daniel below this, the FCA says you have to be able to make a complaint for free. They cant use a phone line you get charged for calling – and so they should be requiring you to write to them and use a stamp!
I suggest you reply to them by emails, saying you are answering their letter dated dd/mm/yyyy and you don’t see whay you should have to pay for a atamp as they never sent you a pre-paid envelope.
The best answers to the questions are what happened to you. So for one person it could be (don’t just send this, it has to be right for you)
1) I remember the difficulty I had repaying the loans
2) I would like a refund of the interest paid on the loans plus 8% statutory interest
3) My debts were going up at this time as you would have seen if you had looked at my credit record.
But you can be more sepcific if you want. How many loans did you have? Did they tend to go up in size?
Daniel says
Hi Sara had the same reply off them via a posted letter but no pre- paid envelope so they are obviously being awkward but it’s fine il pay for a stamp
Sara (Debt Camel) says
noooo -the FCA rules say DISP 1.3.1A R These procedures must ensure that a complaint may be made free of charge.)
I suggest you send another email to the address you sent to before (what was it?) and say you are replying to the letter you have been sent as Mr Lender did not enclose a stamped addressed envelope and the FCA’s DISP rules say a customer has to be able to complain free of charge.
Also say you would prefer correspondence by email as your post is not reliable.
Have you been sent a list of your loans? If not, reply that you will be able to answer their questions when you are given the list of loans that you have asked for, but you note that Mr Lender is obliged under the DISP rules to respond to you complaint even if you do not give any further information.
Louise says
Hi all,how long do lending stream take to pay into bank once sent new bank details after agreeing settlement figure..🙂
Jon says
Hi Louise,
May I ask the time frame of you raising the initial complaint with lending stream to the date you got first settlement email please? I have raised a complaint with LS just trying to gauge when they will make contact.
Thanks
Sara (Debt Camel) says
They don’t seem to have a consistent timetable. It isn’t clear why – whether slower cases are more complicated, more likely to be rejected, involve debts that have been sold to a debt collector or if it is just random.
Louise says
Hi they took a couple of days after my initial complaint to send my loan information then about two weeks after to issue my final response,all very quick.
Jon says
Thank you Louise
Kelly says
Mine was in within seconds!
Mike_p says
Mine too 26 days – the 90 second transfer you get when taking out a loan doesn’t seem to work when there isn’r profit in it for them!
Kelly says
Hi Sara,
I emailed My Jar on 17/3 with an affordability complaint, they emailed me back on 18/3 and said they have forwarded to relevant dept. I received another email back and was told to contact Harrison’s. I emailed Harrison’s on 22/3 and 09/04, however I received nothing back from them. I emailed My Jar again on 13/05 for an update on my claim as I needed some sort of confirmation as to where I stand. They emailed me back on 14/05 to tell me there is no update and that the administrators are currently reviewing the claims made in the loan portfolio in accordance with recognised industry guidance to establish the potential sums due to claimants. We will be in contact when this process has been completed and when there is an update to give.
How long shall I give this? Shall I be patient and give it a few months? Is there a chance that I can get all the amount borrowed back or does it mean it will only be a partial amount when the administrators are involved?
Thanks,
Kelly
Sara (Debt Camel) says
The administrators said in February that any payout “was likely to be minimal”.
Martin says
Hi Sara
I similarly put in a complaint to Harrison’s for rolled-over MyJar loans through 2012 &2013
Notwithstanding continuous late payments and the accompanying higher interest and reminder fees incurred the credit limit on the account was increased from £100 to £400 encouraging further unaffordable borrowing which only exacerbated my financial difficulties.
Harrison’s have replied with
‘ Good afternoon Martin,
In view of the GDPR, unfortunately based on the years you’ve had your loan, this account has been deleted in line with MYJAR’s data retention policy. Therefore, the data of this loan is no longer on the customer base’
A short and succinct reply! I have found all the emails confirming transfer of funds and receipt of payment from MyJar with loan details. In your view is it worth sending these on to Harrison’s and chasing the complaint further or in light of the above and in your experience would I just be whistling in the wind?
Many thanks
Martin
Sara (Debt Camel) says
It is worth sending these on – ask for your claim to be looked at again with this additional evidence.
Donna says
Would anyone be so kind as to advise how I go about checking if I am eligible for any refund?
I had LS loans back to 2012 – 2013 (possibly into 2014)
Sara (Debt Camel) says
You can complain about loans going back to April 2007.
If you remember that repaying them was hard, then just send them a complaint. Use the template in the article above – that asks for a list of all your loans. LS will send that first before responding to your complaint.
It sounds like quite a few loans? If you get a rejection or a poor offer, come back and ask here about sending this to the Ombudsman.
Brig says
Hi Sara,
Today I had an email from the debt collector who I am paying monthly payments to and it said that my account has been recalled back to gain credit. I’ve heard nothing from Lending Stream to say why this has happened. I called them today to ask why and no one could tell me. I just assume it’s because they’re going through my complaint?
Sara (Debt Camel) says
I hope so!
Brig says
Hi Sara,
Just checked my lending stream account and the 4 loans they’d sold to TM legal services and recalled have been added on (with interest!!) to my total now owed to them. I owed £379 to TM legal services and was paying that off monthly.
Now gain have recalled it and I owe them £579 when I’ve logged into my account.
Patrick T says
Hi there
I made a complaint to Myjar back in October 2018 which at the time they rejected, and I didn’t take it to the ombudsman even though I believe I had grounds to complain given that I took 4 loans month after month.
Is it worth me resubmitting this complaint to the administrators?
Thanks in advance
Sara (Debt Camel) says
I don’t know, but why not try?
Patrick T says
Thanks Sara!
Is it worth trying with Uncle Buck also? The same situation although there is a balance oweing on that.
Thank you
Sara (Debt Camel) says
yes, see https://harrisons.uk.com/unclebuck-update/. Again I do not know whether they will take a claim in this situation. It is great pity you did not send your complaints to the Ombudsman when you got rejections!
GAO says
In the exact same position as you, had reached out to Myjar in Nov 18 and was rejeted, I didn’t understand how to go to the FOS so I just left it that. After finding this site I complained again this month, however they said that they already provided a response so won’t look into any further :( I’m now waiting replies from cashfloat, likely loans and drafty – who I haven’t complained to before now.
Brooke Twydell says
I have been following your page with regards to themoneyshop redress and I am still waiting confirmation of when I will receive my payout.
It led me to this page, as i was unaware that Lending Stream can be reported for selling loans to people, without doing a proper affordability check.
I have been using Lending Stream for the past 3 years, and almost always have have had to get a loan from them every month in that period.
Sometimes I had 6 loans with them on the go at one time, and as soon as one was paid off, I would get as much money from them as they would allow me.
I now only have 2 loans with them, and the final 2 payments are in June and July, then I will finally be rid of them.
I have you used your template for an affordability complaint, and sent it to them. I guess I just wait up to 8 weeks for a response now.
Many thanks for your continued advice, this website is amazing…
Mike_p says
I was in the same position with Lending stream with 6 loans at a time sometimes, I don’t see how they could ever argue that that was affordable. They made things as difficult and slow for me as they possibly could, and I had to take the complaint to the FOS in the end, but I eventually got a £2200 refund from them. The adjudicator said that the pattern of lending alone was enough to show they shouldn’t have lent me more.
Brooke Twydell says
I’m glad to hear that you got a good outcome in the end. I never realised that I was entitled to put in a claim until I heard about it here. Any money back from them would be great.
I’ve had 21 loans from them over the space of 3 years, so will hopefully get a decent return from them, as it’s obvious that I was in financial difficulties.
Brooke Twydell says
My Lending Stream Loans:
9/8/18 – £100
30/8/18 – £200
10/11/18 – £200
4/12/18 – £100
8/1/19 – £100
11/1/19 – £100
4/2/19 – £210
7/3/19 – £190
7/6/19 – £450
29/7/19 – £340
27/8/19 – £50
9/9/19 – £100
29/9/19 – £120
28/11/19 – £310
28/12/19 – £70
29/1/20 – £240
12/3/20 – £130
11/6/20 £200
12/7/20 – £200
4/8/20 – £340
10/10/20 – £230
11/12/20 – £320
28/1/21 – £380
I never missed a payment on any loan, and my payments were always taken on the 25th of the month, which is my payday.
As you can see, I would take out another loan pretty soon after my payday and I was always at my maximum overdraft in my bank account.
I hope I have strong case for my complaint?
Sara (Debt Camel) says
It looks a good case to me because of the sheer number of loans!
If they make you an offer and you aren’t sure it is good, come back here and ask?
Brooke Twydell says
Wow, 2 weeks after my complaint to Lending Stream, and I have just received an email with a settlement offer of just over £3500. I’m actually stunned tbh, as this is life changing money to me.
Thanks to Sara and this amazing website, without out, I would never have known that I was entitled to this kind of money, and would have carried on struggling through life.
Keep persisting guys, there is light at the end of the tunnel 👍
Lee says
Hi just working through my bank statements. Does anyone know who Evfin Lending AC F payday provider is?
Sara (Debt Camel) says
possibly Moneyboat? (I am guessing here.)
Kate says
Hi, Sara,
Thanks for all your help so far.
I have raised an affordability complaint with Mr Lender. They made me tell them the details – dates and amounts – of my first and final loans before they’d accept the complaint; now they have acknowledged it, but have said they need the date I became aware that I had cause for complaint, and also the circumstances in which I became aware I had cause for complaint – without these, they can’t begin their investigation. They have also said if it’s not in the time limit imposed by DISP (?) for each loan, they won’t investigate.
I found out about this last year, but didn’t pursue it with Mr Lender until now (about 15 months later) as it took a huge amount of time to put together all the information I needed for my first complaint, to Lending Stream, as I have had hundreds of loans across a number of years, with about seventeen different lenders, and once I had done that (that was the biggest) I moved to the next largest and so on. Am I OK to say this? Or does the fact mean that I didn’t complain as soon as I was aware go against me? (I first borrowed from them in 2014)
Thanks for any guidance you might be able to give me – obviously, I won’t lie, but if they won’t consider my complaint as I didn’t complain last year, I don’t want to put myself through this, as I do find it really distressing (another reason why I am going one at a time with them – Mr Lender is the last)
Sara (Debt Camel) says
They made me tell them the details – dates and amounts – of my first and final loans before they’d accept the complaint
they are just being difficult. They had to respond to your complaint even if you didn’t know those details.
Just say you found out about this last year when a friend told you they had made a claim? you saw it referred to in a newspaper? just say what actually happened. Say that before that you knew the loans had caused you trouble but you had no idea the lender should have checked to make sure they were affordable for you so you didn’t know you had cause to complain.
Provided you have complained within 3 years of finfing out you could, that is fine.
Kate says
Thank you so much, Sarah – I found out last year when I got an email from a company’s administrators (WDA) and Google led me to you, so I will just say that: I was a bit worried they were going to refuse on the grounds I didn’t complain right then, so thanks for reassuring me on this (I was getting a bit worried, as the details I mentioned were not the first hoop they’d made me jump through in terms of accepting the complaint) I’ll report back: in the meantime, thank you so very much.
Kate says
Just an update: they’ve responded today, essentially saying everything was OK, but if they had requested bank statements then they might not have granted two loans in the middle. They’ve offered redress of £154.
I know it’s not likely that all loans will be upheld (sadly, my first two were particularly hefty in the interest stakes) *but* I paid over £6500 in interest altogether, had multiple other short term loans every time, plus defaults on my credit records – including 7 in the six months before I took my final loan with them.
I will be taking my chances with FOS, I think: £1500 I would have accepted, but £150 is really not, as there’s no sense or logic to their comments.
caroline says
I can’t see any comments about cashasap on here. I put an affordability claim in 7 weeks ago they acknowledged my complaint but not heard anything back yet has anyone had any results with cashasap?
Mike_p says
I had a response from them offering to write off my outstanding balance which I was happy with. They replied the day before the 8 weeks was up, which happened to be at lunchtime on boxing day, so I assume it was written in advance and put on delayed delivery.
Sara (Debt Camel) says
Possibly, or the complaints handling may be being done in a country which does not have Boxing Day as a holiday.
Lee says
Just to let you know I raised an Affordability Complaint using the template on this site and submitted it to Lending Stream through their website on 5th June. They responded today and have upheld the complaint on 13 of the 16 loans I had and offered redress of £3404 inc. 8% interest, which I have accepted. I wouldn’t have thought to contact them without this site and all of Sara’s helpful info. I would like to make a donation as a thank you, Sara – how do I do this?
Good luck to everyone else still trying to get some justice.
Sara (Debt Camel) says
A small donation to your local Citizens Advice would be lovely.
Lee says
It’s a pleasure – a drop in the ocean for all the great work you do
r says
Does anyone who has had compensation from LS know how likely they are to budge on their initial offer?, Will they negotiate?
Sara (Debt Camel) says
how many loans did you have and what was the offer?
r says
Overall I had 12 loans- 11 of which were taken out between 19/01/19 and 13/5/19 (majority were top ups)
They have offered compensation for loan 1 and 6-11.
Their response:
We have worked out a net refund on these loans of £584.14 (£521.03 for Interest paid, £0.0 for Fees paid, £78.83 for 8% annual interest calculated for
upheld loans, minus £15.72 for 20% mandatory tax withholding in line with HMRC regulations.)
My most recent loan I have an outstanding balance, I took out £680 and they have offered to reduce this to £273.51.
Sara (Debt Camel) says
Have they sent you a list of the loans and the interest you have paid on each of them?
The last loan you have defaulted on? How much have you paid to this loan? Have they agreed to remove the default and missed/late payment markers?
r says
Total amount borrowed was £2040 throughout all loans, total interest charged was £879.69. They have agreed to remove all negative affects for loans 1 and 5-11. I have been late with payments on loan 12 though.
Sara (Debt Camel) says
was there a large gap between paying off loan 11 and taking loan 12?
How large were loans 7.8.9.10.11/
r says
Gap between loan 11 & 12 was 9 months.
Loan 7- £80
8- £150
9- £140
10- £120
11- £60
Sara (Debt Camel) says
So you can go back to them and say that they should have looked closely at the last loan, even though there was a large gap, as it was so much larger than all the previous ones.
Say you will be happy if the last loan is also included in the refund?
Or if the balance will be written off?
They never used to negotiate, but they have changed a lot recently – they make a bit better offers and pay much faster – so this may be worth a try.
Jo says
Does anyone know when myjar will be open to claims?
Sara (Debt Camel) says
You can send them an email saying you want to make an affordability complaint. info@myjar.com
Matt says
Hi Sara
Thanks for this website it’s very useful.. So after reading many comments on this website.
I have made a complaint to cash converters because between 2011 and 2013 I have pad back over £12000 to them, so I send a email to them after few days they came back saying they don’t have any details of me and asking for credit report or bank statement.
I contacted my bank and they provide me with the back statement going back as 2019.
When I received the copy’s of the statement I highlighted the loan and send it back to Cash Converters.
Today I received letter saying they have rejected my complaint.
OUR INVESTIGATION OF YOUR COMPLAINT.
capital cash Ltd no longer hold any data on an account for yourself. This is due to the following:GDPR states records should not be held any longer than is necessary, therefore any financial records are kept fo six years following the last tax year do to HMRC requirements, after this date the data is deleted.
If you can provide credit arrangements and bank statements we review. You provided capital cash Ltd bank statements showing payments being made to cash converters, we cannot evidence the amount you loaned, due to this we cannot evidence if the amounts repaid included interest.
.
What should I do now Sara.
Thanks
Sara (Debt Camel) says
I contacted my bank and they provide me with the back statement going back as 2019.
but the loans were in 2012 & 2013?
Matt says
Sorry missed typo.. Bank statement going back to 2009
Jolo says
Anyone had any dealings with cash converters recently? I sent them a email yesterday but itx just come back as unsent. So wondering if I’ve sent it to the correct address. Also how have they been? Good,bad,slow fast??
Geoff says
Yes I have a recent, outstanding, experience. I sent in a complaint to customerservices.uk@cashconverters.com on 8th June and had an offer from them on the 10th June which I accepted as it was fair and reasonable and they accepted they shouldn’t have lent the money (in 2011).
They didn’t have any records or documentation but I was able to supply the signed contracts and the bank statements submitted at the time of application which clearly and showed I was overcommitted.
The money was in my bank account on the 11th June (later in the day, not first thing).
I don’t really think I could have asked for more.
Jolo says
Wow thanks for that. Turns out I had sent it wrong as I’d sent it to .Co.uk not .com. glad they sorted it out quickly for you. I’m sure mine will be a pain as I had some 07-09 then from 14 onwards on and off until 19. Pretty sure they will have nothing on the earlier 1s and tbh I don’t either but hopefully they should have info on the later 1s.
James says
Hi All,
Put a complaint in with Mr. Lender on the 26th May, found them quite awkward to deal with, sending letters rather than emails, asking lots of questions, however got a response today to say have upheld complaint, so should get funds in 3-5 days, interest was added and all loans removed from credit report, had one that was passed on to SLL Capital which they are recalling too. really please, as thought they would be the slowest to respond with final response. Hopefully will hear from Lending Stream and Safety Net soon with a positive outcome as they were all taken out at the same time.
Kate says
Congrats, James – I have been jumping through their hoops also this week, so fingers’ crossed here.
I had to take both LS and SN to the FOS: LS said there was no case to answer, but last month, FOS said loans 5-40 shouldn’t have been made – I complained last year, though, and it seems right now they are being more reasonable with people (perhaps as a result of so many adjudications going against them). I received the redress in my account about three weeks later.
FOS ruled in my favour with SN last week. SN had acknowledged that irresponsible lending had occurred, and offered me a write off of my outstanding balance (just over 1K) and an ex gratia payment of 1000. I went back and said I didn’t think this was reasonable, and offered to settle for refunds of interest paid over a two year period, without the 8% interest. They said no – lucky for me, I hope, as the adjudicator has said that they never should have lent to me at all, and that they should return the interest paid over all four years, together with interest: or, at least, lucky for me so long as I receive payment before they go bust :-D With SN too, the original complaint was sent last year, and it’s been with FOS since last November – and I am reading more positive things from cases raised this year, so hopefully, you’ll get a better response from them, and more quickly. Good luck!
Lynda says
Hi Sara, when working out what I’m due back from lending stream is it the loan amount and interest I’ve paid or just the interest, plus the 8%? Thanks for your help
Sara (Debt Camel) says
just the interest (and any charges) plus 8% pa
James says
Hi Kate,
Fingers crossed you get the correct outcome from them too!!, it does seem people are getting good outcomes at the moment, you do think to yourself how can they say its affordable when majority of loans taken at the same time were all unaffordable, but you never can tell. Without this website I would never of made these claims. am doing it with all the ones still in business to hopefully get all owed before they go out of business. With Safety Net surely you should be entitled to all interest you have paid them plus interest.
Rachael says
Hi just wondered if anyone knew how long Oakam take to answer a complaint, and also what success people have had with them, I don’t seem to be very successful with any of my complaints.
Thanks in advance
Sara (Debt Camel) says
if a lender rejects a complaint, come back here and ask if it’s worth taking to the Ombudsman. Too many people let good cases drop… and then regret it a year or two later when it is too late.
Many lenders take the full 8 weeks to reply.
claire says
Hi Sara
I used cash converters to cash cheques every month for a couple of years but it was back around 2005. I put in a complaint and they have responded saying they have no record of me as it was over 6 years ago and they want credit agreements and bank statements. There were no credit agreements and I have changed banks since then so don’t have access to statements from 15 years ago. I’m not sure where to go from here, I don’t want to let it drop as I think the amount owed could be pretty high.
Thanks
Claire
Sara (Debt Camel) says
I am sorry but no-one can make any claims for anything before April 2007.
Leah says
My Sunny account was passed to SLL, I’ve paid them £230. I contacted them to ask if the account was now closed as I’ve received a small refund. They said they couldn’t answer me and to contact Sunny directly but will accept £20 to close my account. I’ve looked at my credit score and I have 2 accounts showing, the one for sunny which is closed and one for SLL still showing open. Should I be refunded the money I’ve paid SLL? Thank you!
Sara (Debt Camel) says
How much do SLL say you owe?
Leah says
Hi Sara,
They said as a good will gesture, they’re reduce the amount to £250 so only owe £20
Sara (Debt Camel) says
So you may be happy with that as a solution. But if you want you can complaint to SLL and ask them to set off the entire balance because of the redress you should have received from Sunny… see https://debtcamel.co.uk/no-set-off-scheme-administration-debt-sold/
But they are not going to refund you any of the money already paid.
M Campbell says
Hi I have sent a complaint to mobile money and they have replied saying due to the length of time this loan was (2006 – 2008) they no longer hold any records.
Sara (Debt Camel) says
The Ombudsman will not take a complaint about a loan that was taken before April 2007.
Kyle says
Hi Sara.
I had a loan with a company called Different Money that have now gone bust and since disappeared. They sold the debt to a company called United Kash who report the account only to TransUnion. It’s reported as up to date but with no payments showing for 3 years or so.
Can I complain to them RE irresponsible lending given the creditor has gone bust or not? What do you recommend in these circumstances?
Thank you.
Sara (Debt Camel) says
Do you know when the loan was taken out?
Kyle says
Hi Sara. Sorry for the delay.
It was taken out in 2016 I believe. I’m not even remotely bothered about a refund or redress I would just like it removed from my credit file all together. The Different Money loan was removed as settled but this United Kash have set up a new account and it just shows as up to date but with no payments being made. I don’t really want to contact them as no payments have been made for ages probably 4 years so it may not be far from being statue barred.
Any advice would be hugely appreciated, thank you!
Sara (Debt Camel) says
If it is showing as up to date, it isn’t harming your credit record is it?
4 years is a long way to go to being statute barred – you may well hear from UnK before then :(
You have no case for an affordability complaint gainst them :( So there is no reason they will remove this loan from your record – no doubt they would add a default if you want, but that makes things worse for the next two years, doesn’t it? Why not wait until after the 2 years before asking them to do this?
Of course if you are thinking of a mortgage application you need this loan defaulted and settled asap.
Lynne says
This happened to me Kyle and I’d like to know the answer too. I started being chased from someone called United Kash for a loan. I’d never heard of them and long story short they said it was from a loan with different money in 2015. I’d like to have made an affordability complaint but as they’ve gone bust assumed I couldn’t because who would you go to ?
Kyle says
Very annoying! I would imagine there is little we can do about it now but like I’ve said above I’m more bothered about getting it removed from my credit file. Good luck!
Adam says
Hi Sara.
I know it’s a long shot. I had 6 loans with lending stream, last 2 had arrangements to pay etc had loads of other loans at time and kept borrowing etc to repay. I made a complaint to Lending Stream back when I did my other complaints but for some reason I never sent it to FOS when they rejected the complaint back in November 2018 and I know you have to send it within 6 months, unsure why I never sent it onto FOS. Is there anything at all I can do or am I just going to have to let this one go? I only really want the loans removed from CRA, not worried about a refund.
Sara (Debt Camel) says
Sorry but it’s a lot too late.
John says
How would I register an affordability complaint with drafty for a current loan that I have had to set a repayment plan up for?
Sara (Debt Camel) says
Just Use the template in the article above. Are the payments you are making now affordable?
John says
They are but at the current rate will take me forever to pay off.
Sara (Debt Camel) says
ok do you have other problem debts as well?
How long did you have this account before the repayment plan was set up?
Leanne Casey says
I complained to Lending Stream last week and have had a letter saying they reject my complaint as expenses subtracted were more than enough to leave me money to spare.
Not once did they ask for bank statements so I don’t know how they’ve come to that decision
Sara (Debt Camel) says
how many loans did you have from them? how large?
Leanne Casey says
Hi Sara
Only 2 loans… 1 x 200 and 1x 165
Sara (Debt Camel) says
then you are very unlikely to win an affordability complaint about those loans, it is unlikely to be worth sending them to the Finacial Ombudsman. A lender only has to make “proportionate” checks – for a couple of small loans, they don’t have to verify your income and expenses using bank statements.
Leanne Casey says
Hi
Oh well…you don’t ask you don’t get do you? Was worth a shot.
Thank you x
Sara (Debt Camel) says
Quite right :)
Jon says
Hi Sara,
Lending stream sent a final response letter today. They have upheld loans 2 and 8 to 10……..very random. In the letter they sent me, they have based all 10 loans on expenses they have adjusted to national average, and listed the expenses I stated as zero. This contradicts the expenses values i used on my applications. I have the values i used on the 10 loan applications as they confirm this information in a loans application document they sent me as part of the SOA. The values i used on my applications are much higher than the national average they have used.
Either way, I am going to raise a complaint with the FOS. The middle loans they have not upheld are high value, and are the ones that were most unaffordable. The loans they have upheld are the lower value loans.
Would you have any advice please in terms of raising a complaint with the FOS (which documents are best to send them etc).
Thanks in advance for all the help so far and this website in general!
Cheers!
Sara (Debt Camel) says
The values i used on my applications are much higher than the national average they have used.
That is wrong!
Victoria says
So I emailed myjar – info@myjar.com.
It states it is now being dealt with by Harrisons and to email myjar@harrisons.uk.com.
Victoria says
I got the following speedy response from Myjar (Harrisons):
…..
We are currently reviewing all records with regards to complaints, which includes pending redress enquiries. Once we have completed the review and you are to be awarded redress, we will write to you. Your interest in redress has been registered.
…
At present the quantum and timing of any potential redress is unclear. The Administrators are presently reviewing claims made in the loan portfolio in accordance with recognised industry guidance to establish the potential sums due to claimants.
The conclusion of the review and any subsequent re-imbursements is unknown, likewise payments to unsecured creditors are unknown and won’t be known for some time.
Experian has confirmed that all My Jar loan will be removed from credit files. This means the data will no longer appear on consumer credit reports, will not be returned in lender searches, and will not contribute to consumer credit scores.
The loan is showing on my Equifax credit file also – should I question if this will be removed also as it states Experian? Does it get removed automatically now that they are in adminstration or only if the claim is successful? I wasn;t sure what/how i should be responding.
Sara (Debt Camel) says
If they are telling Experian to delete all the credit records they should do the same with Equifax.
Vicki says
I hope so. Will just have to keep checking.
Laura says
Hi just wondering if anyone used the template to get in touch with safety net? I did so a few weeks ago as I have an outstanding balance with lantern debt collectors and just had the more random email from lantern saying they are no longer handling my account and it has been passed back to safety net? Mean they have been chasing me and it’s been a back and forth arguement for months and then just out of the blue after sending the affordability template it’s been handed back to safety net :/
Katie says
I have an outstanding complaint and haven’t had anything back yet. Next week will be 8 weeks. Mine is also with a debt collector.
Ranger says
Laura I had the same made a complaint to Safety Net then shortly after had an E-Mail from Lantern saying debt had been passed back to them?
We’re writing to let you know that your account relating to reference (#####) has now been returned to SafetyNet .
With immediate effect, all future contact and correspondence should be directed to SafetyNet.
This particular account has been closed on our system and you will no longer receive contact from Lantern regarding this debt.
Yours sincerely
Lantern
So maybe this means they are investigating and removing the debts from the debt collectors?
Laura says
Hi Sara
Like I mentioned in my previous comment about my safety net account which was being dealt with by lantern debt collectors.
I received a email from latern to say the account was being given back to safety net which I thinks odd as I’ve never known it happen.
When I responded to lantern asking why it was giving back to safety net there reply was plain and simple that they requested it back :/
Could this have something too do with sending the affordability letter to safety net? Or am I getting my hopes up haha.
Sara (Debt Camel) says
It sounds likely SNC have called it back because of your complaint.
Andrew Lowe says
Can anyone help me with issues I have with Satsuma. I know they are currently looking for scheme of arrangement. I am not bothered about that. My issue is that I put an affordability complaint in before that started and haven’t heard anything for 4 months. I am more concerned that they have applied a default to my credit record nearly a year after writing to me about payment issues. Whenever I had logged in to my account to make payment, nothing shows, yet I still owe the debt.
Sara (Debt Camel) says
You can put in a second complaint asking them to backdate your default to when you were 3 months in arrears. But this won’t improve your credit score – is this worth the hassle? If you win the affordability complaint in the Scheme or administration, the negative marks are removed.
Wayne says
Has anyone heard off piggy bank they owe me a readdress but are in the process of being wound up. Its been 2 yeaes and still they have not been wound up. Anyone know any different
Im. Also having trouble with uncle buck they are refusing that my loan un affordable and the administrators are saying the same
Sara (Debt Camel) says
how many UB loans did you have? How large?
Wayne says
I had one for £600
Sara (Debt Camel) says
It is hard to win a one loan complaint at the Ombudsman unless the loan was very large. I am not surprised UB and the administrators have rejected this.
Wayne says
Yes but ive also won against
lending stream
Ferrutum
Moneyshop
Piggy bank all be it still waiting for the administrators
So what’s makes uncle buck
Any different
Sara (Debt Camel) says
how many of those wins were one loan cases?
Dani says
Hi
Does anyone know what’s happening with 247 Moneybox? I hsve 8 accounts on my credit file that I’m trying to get removed but am getting very generic answers from their customer services team by email that don’t help me at all.
I’m not worried about the redress payment as it would likely be a very small numbner but am more concerned about having 8 concurrent pay day loans on my credit file before I apply for a mortgage.
If I dispute with the credit agencies directly are they likely to remove the accounts due to the administration?
Thanks
Dani
Sara (Debt Camel) says
If I dispute with the credit agencies directly are they likely to remove the accounts due to the administration?
Not at the moment – if you wait until later in the administration when the administrators have stopped talking to the CRAs, you can ask the CRAs to “suppress” the records, see https://debtcamel.co.uk/correct-credit-records-lender-administration/ but it is too soon for this to work with 247.
Dani says
Thank you Sara, do you know when that will be or if there’s any way for me to check? I am hoping to apply for a mortgage in January so hopefully can get resolved before then.
Sara (Debt Camel) says
I’m sorry I can’t guess. Come back in a few months?
Chris says
I’d like to know what is going on with 247Moneybox as well. This is the last one I have left that I am waiting to hear about the redress I am owed. The information on their site and the update link is as vague as mud. They just say the original date that was set for payments etc, namely the end of this month is unlikely to be met due to the sheer numbers of claims they need to get through, although that suggests to me that those of us due redress will get a very small percentage of the total….as usual.
Suzzy says
Hello sara,I had two loans with Oakam,the first I repaid over 3 months.
The 2nd loan I took out 6 months later they would not give me unless I repaid weekly,I said I get paid monthy but they insisted so I took the loan struggled and repaid it .Is it worth trying to get redress.I dont owe them any money and dont have any other loans with them.thank you
Sara (Debt Camel) says
how large were the loans?
Susan says
Sara,
500 1st loan
750 2nd loan
Both repaid
Thank you
Sara (Debt Camel) says
I think that is worth a complaint about the second loan – send it to the Ombudsman if they won’t refund the interest,
Susan says
Thank you will use template
Kelly says
Hi Sara, I have sent an affordability complaint to L2G and received the following response. Am I best to accept this or should I refuse and go to the Ombudsman?
————————————
Further to your email received in our office on 28/05/2021, I understand that you wish to raise an affordability complaint against Loans 2 Go Ltd.
Having reviewed your account, I would like to confirm that this complaint has already been investigated thoroughly and you were provided with our final response on 25/7/2019. Therefore we are unable to register and investigate this complaint once more. However, by receiving your email, I understand that you are not happy with the final response that was issued to you previously. Therefore, in order to bring your complaint to a satisfactory closure, I am offering to write off 30% of the interest which has been added to your account. This means that, we will be writing off £233.64 and reducing your outstanding balance to £693.36.It is kindly requested to let us know if you are happy with the offer outlined above within 7 days of receiving this email. Also, please find attached your DSAR documents. Please be advised that the document has been password protected and the password is the first three letters of your surname followed by the year of your birth.I hope that this is a satisfactory offer and can bring your complaint to a satisfactory closure.
——————–
I cannot even recall making an affordability complaint previously, as I only came across them recently on this website!
Sara (Debt Camel) says
so it sounds as though they may have mixed you up with someone else… was the attached information correct?
when was the loans taken out, was this your first loan from them?
what is your current L2G balance?
How much did you borrow and how much have you paid to them so far?
Kelly says
To be honest I have checked the balance and it is the same as to what I have left to pay, I have checked all through my emails though as I keep everything and there is nothing in my inbox nor sent box about a complaint in 2019. I am currently paying Stepchange monthly £5.00 with some other loans. It was the first loan I had with L2G which I guess doesn’t go in my favour and it was for £250. Interest was disgusting. At the time I had lots of debt and also a CCJ. They were they only ones who would lend to me. I have £927 left to pay and they are saying they will deduct 30% but it still leaves me with over £600 to pay. I’m not sure whether this is a decent offer or if I have chance of getting the lot cleared?
Sara (Debt Camel) says
Can you look at the info they have sent and see how much you have paid to them so far?
Kelly says
Hi Sara,
I have checked the statements and all together I have paid £101.82 (£25.00 of this is whilst being with Stepchange).
Thanks
Sara (Debt Camel) says
ok so you have repaid less than you borrowed – they aren’t going to clear your balance – if you won a case at the Ombudsman your balance would be reduced to 250-101 = 149.
I think it may be worth offering a compromise though. Start off by saying you have never made an affordability complaint, you have only recently found out what one is. and they may be mixing you up with someone else.
Say in the interest of getting this sorted speedily, you would be happy if they reduce your balance to £400 – that will mean you repay what you borrowed plus the amount again in interest.
Kelly says
Okay then, that’s great. I’ll drop them an email and see what they say! Thank you :)
Kyle says
Hi Sarah
I accepted 13 from Mr lender as I didn’t realise I could get more. The ombudsman now won’t look at my complaint as they said that I agreed £13.00 compared to the 400 plus borrowed
Is there anything I could do
Sara (Debt Camel) says
probably not, if Mr Lender told you you had the right to take the complaint to the Ombudsman?
Susan says
This is for everyone who had an initial email offering redress and stating that outstanding amount you owe will be taken off the redress payable. Today I had a letter from BW legal to confirm I did not owe any money to money shop( this I knew and no money was taken out).They explain that the initial emails are generic and to confirm the case is closed and the information is deleted from my Equifax.
Thought this would clarify things as I was bracing myself for hassle.
I get the impression they may have had lots of emails calls with regard to loans repaid through debt collection (which mine was) and not money shop.Hope this helps anyone in same situation.
Sara (Debt Camel) says
for anyone who reads this and does owe money BW Legal money for a MoneyShop / Payday UK or Payday Express loan, read https://debtcamel.co.uk/no-set-off-scheme-administration-debt-sold/.
Tina says
Hello Sara,
I raised a few affordability complaints over the last few months. A couple successful, a couple not so successful. Quidmarket was one of few who refused but said they would remove from credit file. I agreed to this. I am thinking now with the ones that refused I should’ve pushed further. Even though I accepted their response and the removal from the credit file, can I still change my mind and take it Ombudsman. Or because I accepted then would that mean I wouldn’t have a chance. Thanks for all your help on here :)
Sara (Debt Camel) says
Did they ask you to accept the offer? Or just say they were removing it from your credit record. Did they tell you you had the right to take the complaint to the ombudsman?
Tina says
They sent a final response saying they will not uphold my complaint but as a gesture of goodwill they will remove from my credit file. They said if I accept the offer then contact the office. I sent an email and accepted. They did also include in an attachment about going to the Ombudsman. I wish I would’ve now!
Sara (Debt Camel) says
Sorry, it is too late :(
Tina says
Okay, no worries. Thank you for your help!!
Joel says
Hi Sara,
I complained about various payday lenders back in October/November last year. My complaints were about affordability and correct checks not being carried out, I also had a gambling problem at the time which would have been easily picked up if they had asked for bank statements. All rejected my claim and due to the amount of time work and home schooling was taking up due to COVID I have not yet escalated to the FOS. Looking at it they are saying that needs to be done within 6months. As this deadline has now expired am I just best to forget about it completely and would it make any difference if I agreed to drop compensation just for relevant changes to credit report to be made?
I also had credit cards and built up debt on those, I was actively gambling on those and was offered credit limit increases at various points. Can I make complaints to the credit card lenders as I haven’t done this? All debt has since been cleared and although compensation would be nice, it is more important for me to try to clear anything negative on my credit report if I can, particularly with two CCJs I had.
Many thanks in advance
Joel
Sara (Debt Camel) says
It is 6 months from the date of their reply to you. If you are outside that time, then it is too late. It is very unlikely that saying you only want your credit records changed will make a difference.
Re credit cards, read https://debtcamel.co.uk/refunds-catalogue-credit-card/. And if you complain, keep on top of it – a rejection should be sent to the Ombudsman straight away!
Joel says
Thanks Sara, yes kicking myself now! Will have a look at the credit card thread and give that a go. Appreciate your help
Matt says
Hi Sara
Thanks for the very useful Web site, I emailed cash converters about payday loan which I took out in 2011, they replied me saying they don’t have any records and ask me to send a bank statement
From the bank statement they could see I took out loan over 12k between 2011 and 2014 and rejected my claim.
Why would they reject my claim on the same time someone posted say cash converters accept the claim which was taken in 2011?
What should I do next?
Please help
Sara (Debt Camel) says
Have they replied after you sent the bank statement?
Matt says
Three days later the lady from cash converters send me a letter saying they have rejected my claim
They don’t send my bank statement back
Sara (Debt Camel) says
Ask them to return the bank statements as you will be making a complaint to the Ombudsman.
Matt says
She replied saying they don’t hold paper copy and she send me the scanned copies of all my statements via email
Sara (Debt Camel) says
ok! Well send your complaint to the Ombudsman.
Matt says
Just wanted to know why they rejected me when the other person on this Web site post same information that claimed successfully, bank statements and they claim went back far as 2011..
Sara (Debt Camel) says
no idea!
Ewan says
Me and a friend of mine both submitted a complaint for a refund from the same lender but through different claims companies. I received my refund well within a couple of months but my friend hasn’t after the same amount of time. Does the claims company used make a difference to how long payout takes?
Sara (Debt Camel) says
has their complaint been upheld by the lender?
Ewan says
I don’t think there has been a response yet
Sara (Debt Camel) says
who is the lender? how many loans did you have? how many did your friend have?
Ewan says
Everyday Loans. We both had topped up but me more than him. The claims company I used only take on your claim if you’ve topped up a certain number of times.
Sara (Debt Camel) says
Well a claim with a top up is often a stronger claim.
But a shame you want through a claims company at all!
If his complaint has been with EL for more than 8 weeks he needs to ask the claims company what is happening and ask for it to go to the Ombudsman.
Rose says
Hi, Sara,
By any chance, do you know any trading names attached to novaloans? I’m asking as I have two entries related to them, as closed accounts, on my Transunion credit record. All I could find with Google as possibilities was cashforunow, who I’ve never used, and Amigo (also never used).
(It doesn’t, objectively, matter, I know, as they are paid and settled, but if they are someone who has gone bust, I was wondering if I can have them surpressed.)
Sara (Debt Camel) says
Nova Loans is a brand name of Cash4UNow. If you have never borrow3ed from them, I suggest you contact the lender and ask them to delete the loan from your credit record.
GAO says
I can see that Mr Lender will be my real nemesis from reading your comments on them!! Thanks to what you lovelies have posted to this page, I have emailed them with the template but also tried to pre-empt all the questions and answered them up front.
Of course, they still came back to say that they can’t lodge my complaint without verifying I’m the account holder – to which I responded that I provided 3 points of verification in my first email (which is sufficient as a customer) so there is no excuse that they cannot acknowledge my complaint from the date I have sent it – as per FCA rules. I also provided the info I could in relation to their points which were:
Your first line of address and postcode
Date of birth
Mr Lender account number (told them I didn’t know this)
The month and year you first borrowed from us (told them I didn’t know this)
The month and year you last borrowed from us
The Capital sum borrowed with your first loan (told them I didn’t know this)
The Capital Sum borrowed with your last loan
My last loan at end of 2019 incurred 1034 in interest and late fees etc and I had many loans before then so I can only imagine what I’m owed! I will keep you posted on what they say.
James says
Hi Gao,
I found them very difficult to deal with in the beginning asking lots of questions, but to be fair they took roughly three weeks to conclude my loans were unaffordable, one had been passed to a debt collector which they got back and have cleared the outstanding amount, and was paid a couple of days later in my bank. just waiting on Lending Stream and Safety Net Credit, but its only been 4 weeks so far, so potentially 4 weeks till they need to give decision.
GAO says
An update, a woman from Mr Lender called me earlier today to get more information on how the loans were unaffordable and what I wanted as resolution.
I confirmed (almost line by line) everything I had put in my initial email – that I was in a clear cycle of persistent debt between 2015-2019 and always took more loans after I finished paying the old one so this in itself shows how unaffordable this was. Also highlighted that with Mr Lender particularly I constantly missed payment dates by a few days as I was paying out so much money on paydays that there wouldn’t be enough for them to collect, so of course I’d do a roll-over loan or take out more money elsewhere to cover it. I confirmed I’d be willing to send statements if needed but I had already provided a copy of my report.
For resolution, I asked for a refund of interest and late fees charged + 8%, but that I need a statement of all my loans so I could evaluate what a good offer would look like.
She confirmed that Mr Lender will always send statements and decisions by post only (not email) but that she was happy to call me again to confirm my receipt of these. She confirmed they indeed have up to 8 weeks from first receipt of my complaint, however she would ‘escalate’ this so that the statement could be compiled and sent out ASAP and before 30 June. She said that I could expect the decision letter shortly after and she will personally call me back on 5th July.
Let’s see what happens!!
Louise says
Hi Sara,
I have decided to get information from the three main Credit Report. I have just started going through Equifax. I just wanted to check a couple of things with you. I have noticed that L2G have put a default against my loan. I raised an affordability complaint and they offered me a reduction as I still owe them, rather than a refund. I accepted the reduction. Is there a way I can politely also ask for the default to be removed? Also there is a number of other accounts that have missed payments but just say settled. Are the ones with missed payments a bad one to have on your file. Vanquis bank was one however them and the Ombudsman refused a affordability complaint, but could I still go back to them and ask them to remove it from my file? It’s horrible to think all this badness is against me. Thank you :)
Sara (Debt Camel) says
It is a shame you did not ask for the default to be removed when they offered a balance reduction :( You can try and ask for it to be removed now.
Has the Vanquis debt been paid? or has it been sold to a debt collector?
It sounds as though you still have a lot of debt – do you know how much it adds up to? Are the repayments affordable?
Louise says
All the Vanquis debt has now been paid off but I put in for an affordability complaint and they refused as well as the ombudsman which is a shame! I have just noticed though on Equifax that there are a few marks against my name with them! With L2G I still owe them but I am repaying them. I currently owe Lantern (Mmile) £800 L2G £900 and NatWest £2700. They are all in a payment plan with Stepchange which is affordable. I owe NatWest as I had a basic account yet I was gambling and for some reason they let me go OD. I didn’t even have an overdraft but they say that it can happen.
Sara (Debt Camel) says
NatWest let you go £2700 on a basic bank account???? how did that happen? are they adding any charges?
Louise says
I was gambling with an online betting company. I looked at my account a couple of days later when I could credit my gambling account and found that I was nearly £3000 overdrawn. I haven’t properly argued them but it happened and in my opinion it shouldn’t of. My account was closed pretty much straight away and marks against my name. Just a standard/basic account. Madness. I don’t know how it happened but I can’t even go a penny over usually. Whether it was the gambling firm or the bank I don’t know??
Sara (Debt Camel) says
I suggest you complain to Natwest, say this should not have been allow3ed to happen and ask them to write off the debt.
Louise says
No, they aren’t adding charges. Stepchange have sorted that for me.
C says
Hi I had a similar experience with NatWest. I had a basic account and I was able to go overdrawn by £1600 gambling.
It is something to do with the way payments are processed POS or something.
I recently tried to complain about it, as I don’t think they should have allowed it to happen on basic account. They sold the debt and the account is now dorment. They responded to say they have not applied charges and that basically they are not at fault.
Defo worth putting in a complaint. Fingers crossed your complaint gets upheld.
Sara (Debt Camel) says
did you take your complaint to the Ombudsman?
Because many people wanted a basic bank account exactly because they knew they could not go overdrawn… so the bank’s systems were at fault to let you.
Louise says
Yes I will give it a shot then. Do you have an email address for NatWest? I will let you know what they say.
Sara (Debt Camel) says
no, go through online complaints form https://personal.natwest.com/personal/support-centre/how-to-complain/complaint-form.html
C says
No I didn’t take my complaint to the ombudsman. Think I will refer it as I’m still within the 6 months.
Sorry to jump on your post. 🤦♀️
Louise says
It’s okay. I appreciate your help and advice. Thank you. I’ll keep you updated with what they say!
Louise says
Hi has anyone put in a complaint to The One Stop Money Shop,and did they get a refund.?.Thanks.
Sara (Debt Camel) says
They are a tiny lender, I don’t remember anyone making an affordabilty complaint.
But the same applies as for other lenders – how many loans have you had from them? Do you still owe them money?
Elaine Burns says
Thank you for your reply and the additional information.
The Kirkcaldy store was owned and operated by Cash Generator Limited until April 2018 when it was sold to a separate franchise company who have no responsibility or liability for any consumer lending transacted by the previous owner.
Cash Generator Limited was subsequently placed into administration in June 2018.
I sent an affordability complaint to cash Generator and was told Cash Generator went into administration in June 2018 and they are refusing liability is this the case?
Jack says
Firstly thanks to Sara for the fantastic advice on here. Made three complaints three weeks ago and have had offers from all of redress. Would never have chased this up without the templates. Donation made to local citizens advice.
Secondly, I have accepted all offers made but now believe I have been hasty with one. Can I still ask the lender to look at this again within the 6 months appeal period or does my acceptance mean it’s case closed.
Sara (Debt Camel) says
Your acceptance has closed the complaint – well unless you change your mind very soon, in a few hours, most lenders will allow you to do that.
Javk says
Thanks Sara.
It’s Ferratum. Accepted offer at 4pm today.
Will drop an email to them.
Jen says
Hello
Does anyone have the complaint email address for Ferratum please?
Thanks
Jen
Sara (Debt Camel) says
use the link to the email address page in the article above
Emma Land says
Thank you so much for the help on this site, i have received a reply to my complaint with lending stream this morning and they have upheld the complaint and awarded me £3029.38 but due to an outstanding balance with them it has been deducted to £2329.38, this is still far more than i was expecting. Thank you again
Matt says
Sara, I would like to thank you! I have just been offered 1.4K from Lending Stream! You provided the tools I needed to submit the claim over a year ago and following the recent money shop pay outs I decided to chase! Now I am receiving 1.4K for effectively nothing!
Thank you again! You have made a difference to many peoples lives including mine.
Matt
Zoe says
How long did it take for lending stream to make you an offer mine has been going on for weeks
KH says
I’ve also been waiting for weeks. Currently week no. 5 :(
Sara (Debt Camel) says
8 weeks is perfectly normal. It’s annoying but you can’t speed this up. Are you in particular financial trouble at the moment?
KH says
Yeah, I’m aware after reading other comments that up to 8 weeks is norm. Luck of the draw I suppose, I see some folk have had an extremely quick turn around and not so much for others. No, not in any financial troubles now, had stumbled across this very helpful site during checking for updates on the ICL payout and had LS loans in the past (when I was in financial difficulty), so thought it was worth putting in affordability complaint. So thank you! Wouldn’t have known it was possible otherwise :)
Sara (Debt Camel) says
I think there may have been a sudden spike in complaint numbers with others finding out like you did…
Chris says
Hi Sara,
Great advice and updates on here, have successfully complained to several lenders. Most recently Lending Stream, responded in 5 days with partial uphold and offer of circa £4K have accepted today so will add a comment when it is paid but that is by far the quickest turn around along with safety net who turned round complaint in 2 weeks including payment! Thanks
Lynda says
I have received my SAR from lending stream, do I need to do anything else ?
Sara (Debt Camel) says
I replied to you here https://debtcamel.co.uk/payday-loan-refunds/comment-page-212/#comment-434332
Lee sharratt says
The moment when u have complained to some companies. Over the past 3 years. Give u the outcome of the complaint. Sat on it for all this time. When infant could have taken it to the fo. And now too late as the time as past
ryan says
Hello, I am just looking for some advice with 118118 money. I took out a loan with them 3 years ago, for £1500, it has since been passed to lantern, and im still making payments. They passed it to lantern with £2118.48 worth of interest on top. At the time of taking the loan I had multiple payday loans and was even struggling with them. How strong would my case be in an affordability complaint with just one loan?
Sara (Debt Camel) says
One loan cases can be won when the loan is large, as this one is. Use the slightly different template over on this other page https://debtcamel.co.uk/refunds-large-high-cost-loans/ and see the comments below there – lots of people have won cases against 118 but most need to to to the Ombudsman
frogman says
Question please.
How do I deal with adverse entries on credit file from 247MoneyBox? it is currently showing ”arrangement to pay” (£530 balance). They owe me £420 from unaffordability claim but they wont offset this from balance. They also said the £530 (last loan taken out) was not accepted as part of claim. I have read the below on their website and wondering if now is a good time to approach CRA’s to either remove it or supress it. Thank you
3. Credit record
3.1 Unfortunately, the Joint Administrators are unable to request the removal of loan
information from Redress customers’ credit records until the Redress exercise has
been completed.
3.2 It may be prudent to contact your credit reference agency (“CRA”), as it is our
understanding that some CRAs are deleting loan data once a company has
entered into Administration. I would note that this is at the absolute discretion of
the CRA and not within the control of the Joint Administrators .
Further updates will be available in ou
Sara (Debt Camel) says
oh! Well you can try. See https://debtcamel.co.uk/correct-credit-records-lender-administration/. Write to the CRAs (which ones show the 247 loans?) and say that the Administrators say are referring customers who want their records corrected to the CRAs and give them that link https://harrisons.uk.com/247-moneybox/ so you would like your Active Securities loans suppressed from your record now.
Frogman says
Thank you very much Sara. Very much appreciated.
Kerry says
Hello Sara,
I am just looking at my Credit Report and it says that I have four missed payments with my Santander account.
I set up a plan with Stepchange in Jan/Feb and have been paying them every month so I am slightly annoyed and frustrated that these are showing as missed on my report. Should I get in touch with someone?
Sara (Debt Camel) says
A DMP will harm your credit record even though you are making the payments on time. See https://debtcamel.co.uk/dmp-credit-rating/
Peggy says
Are people putting complains into satsuma through provident plz ty
Sara (Debt Camel) says
Provident is looking at a Scheme of Arrangement for all its provident doorstep landing and Satsuma payday lending. See https://debtcamel.co.uk/provident-scheme-refunds-vote/ for what is happening.
SamT says
Hi Everyone.
Is anybody having any luck with Myjar? I’ve emailed them and they are having issues locating me. They have now replied to me saying this
In view of the GDPR, unfortunately based on the years you’ve had your loan, this account has been deleted in line with MYJAR’s data retention policy. Therefore, the data of this loan is no longer on the customer base.
Is there anything I can do? Or is this one a lost cause
Thanks
Rose says
I had loans with txtloan, which is what they were before they became MyJar.
They didn’t have the info, as they only retain it for six years, however, they did accept various emails I still had showing loans, confirmation of payments, roll overs and whatever. They upheld my case *but* only offered to refund interest where I could prove what I had paid over the entirety of the loan. Unfortunately, we were dickering over this at the time they went into administration, so in retrospect, I should have taken payment on the two loans I had all the details for, and let the other 30 go…
I would say if you have any other evidence – bank statements, emails of any kind etc it’s worth pursuing: if not, you will probably have to wait and see if the administrators contact you – this happened to me with Wonga, Wage day Advance and Cash Euronet, and also Provident (I hadn’t had a loan from them in over 15 years) but with Money shop, I had to raise it directly. My point is that it’s possible, if you have no evidence any more, that they might find something and contact you on whatever details they had at the time.
peter says
Just wondering, i sent Safety Net Credit and Mr Lender and have only heard thanks for your email . We will respond within 8 weeks. I am not sure within my email i specifically stressed that they must refund the interest. It appears foll wing the email trails here, individuals have sent affordability complaint and have hear back with some good news about a refund. I sent the emails May 29th. Sara can you advise if i should email them again and be more specifics or wait until after 8 weeks have elapsed.
Sara (Debt Camel) says
I think if it was clear you were making an affordability complaint you can just wait.
Both SNC and Mr Lender can sometimes be persuaded to negotiate on an offer, so if you aren’t sure what you have been offered is good enough, come back here and ask? Too many people say Yes straightawawy and only think later they should have had more :(
Paul says
Thanks for your quick and clear response. have a a nice Saturday!
Paul says
I have heard from Mr Lender via post today.They have not upheld the claim as they are “uncertain how the loans issued did not meet our responsible lending criteria and in fact exceeds the required responsible lending standards.”
they have referred me to the FOS. It is so deflating getting this letter of them telling me i did not claim financial difficult when i borrowed loans in succession from them.
Can you advise how to go about the next step.
Sara (Debt Camel) says
How many loans did you have? How large were they? Were the rest of your finances getting worse during this time?
Paul says
I had 3 loans and yes i was borrowing to ensure my other bills got paid
Sara (Debt Camel) says
how large were each of the loans?
Charlotte says
Hi
From my experience with both of these lenders,SNC removed all interest and all negative information from my CR and also mr lender removed interest and have agreed to a repayment plan for the remainding balance which they said once paid they’ll remove the default on my CR.
I’ve also had similar luck with a couple of others but the one I’ve had to send to the FOS is creditstar,similar story but this was one of the last loans I took out when I got into problems!