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?
Dominic says
Like others, my outstanding Myjar loan (£943) has been sold to Perch Capital. Myjar registered a default on this in 2018 but in late 2021 they removed the loan from all 3 CRA’s.
However the email says ‘ Perch Capital may start to report account conduct information to the credit reference agencies in the near future. This will include providing them with information on any payments made or missed, defaults, payment arrangements, and settlements.’
Does this mean Perch have the right to start giving me a ‘missed payment’ in respect to this loan every month from now on? I *could* make the payment or at least offer a settlement but obviously I don’t want to throw money at something that may not have any consequence anyway – and thats also without considering my affordability claim on this loan is still unresolved.
I’m nervous because my record is clean since 2018 and am hoping at applying for a mortgage in the 2023/24 year…. So missed payments being reported in 2022 would be a disaster.
Sara (Debt Camel) says
how was this loan recorded before the administrators stopped reporting to the CRAs – up to date? defaulted? missed payments?
have you made a complaint to the Myjar?
Dominic says
On MSE credit club it was reported as ‘in default’ each month since around mid 2018. In early 2018 it went through -1, -2, -3 before the default was applied.
It seems like I stupidly made a complaint on this back in late 2018 via a claims company and this was rejected. I did do another one myself to the administrators in April 2021 but can find no response subsequent to the copy/paste response I got at the time that just explained the administration process (that complaints were being looked at).
I feel like a settlement offer of an amount that brings my total payments on the loan as equal to the original advance amount would morally be the right outcome…. but this is only about 30% of what they say I owe so I doubt it’d be accepted.
Sara (Debt Camel) says
It is a shame you did not take the Myjar complaint to the Ombudsman back in 2018.
You need to ask the administrators what they have decided about your complaint. Sometimes administrators will let you put in a second complaint. Sometimes they won’t.
If the administrators will not consider your complaint, then I am afraid you need to settle the loan with the debt collector who now owns it.
brendan says
Hi sara i had outstanding loans with myjar £3000 i complaint about to loan to Ombudsman in 2020 which i won both parties agreed my loans as now be sent Perch Capital, I’ve sent them all information about what Ombudsman and myjar agreed now Perch Capital, told me they will not except this agreement . What can i do about this?
Sara (Debt Camel) says
Perch won’t agree to the monthly payment? or to the reduction in the balance?
brendan says
Yes that right balance should be about £1000 they will not reduction balance what Ombudsman agree to with myjar.
Sara (Debt Camel) says
So you are saying the balance was £2,300 say and after the FOS decision this was reduced to £1000 but your debt has now been sold to perch as though it is £2,300?
This was an adjudicator decision that Myjar agreed to before they went into administration?
brendan says
Yes it was agreed in 2020 signed by me FOS and myjar. Do i need to go back to Ombudsman to get the sort this out?
Sara (Debt Camel) says
No go back to Myjar. FOS can’t get involved in an administration.
They should only have sold the reduced balance to Perch. If they don’t immediately agree this is wrong and that they will correct this, complain to the administrators directly.
Lou7 says
Do you think I could make a complaint to likely loans as they gave me a loan which I can’t afford to pay and have had to put it in my step change debts?
Sara (Debt Camel) says
did you have the DMP when they gave you the loan? How large was it? This other page has the best template for a single large loan, rather than a lot of small payday loans: https://debtcamel.co.uk/refunds-large-high-cost-loans/
Lou7 says
Hi Sara
Yes I had the dmp when they gave me the loan
Sara (Debt Camel) says
then definitely complain! They would have seen the DMP payment arrangements or defaults on your credit record.
Ross says
Nor sure if this is any cause for hope, or concern, but I have just logged in to my 247 Moneybox account to find that the redress section, and bank details provided, have both disappeared from the account section. For what seems like ages now, there’s been a redress section, showing my claim value as being ‘TBD’. It’s a bit ominous it’s now all disappeared? Might be worth logging in to yours to see if the same has happened? If so, they might (finally) be dealing with the redress, which I know isn’t going to be much but, just to put a lid on this would be good, after what feels soooo long.
Faye says
Hi Ross, I checked mine 247 account and it was there this morning, just checked now and yes mine has gone too even my bank details for redress has gone😳 wonder if that means payments are coming, or there is no redress who knows 🤷🏼♀️they are very bad at keeping people up to date
Ross says
Thanks Faye,
It would appear something is happening but, who knows what. Glad it’s not just me then. I did see somebody say something about a potential March payment so we shall have to wait and see? 🤔
Faye says
Hi Ross, yes if you go onto Harrison’s website it has an update from middle of January stating that redress payment will hopefully be March, but we will wait and probably wait more 😀there do doesn’t seem to be many of the 247 club members on here not like moneyshop😂😂
Lou7 says
Hi Faye
My info has disappeared too. The tab that was at the top of the website page saying redress has vanished along with my info
Chris says
Yes, it’s disappeared on mine too. Hopefully that means they are getting ready to pay up finally but as Faye said, communication from the 247 administrators has been very bad, I’d say it’s been even worse than ICL. Let’s hope they can a least beat ICL’s redress percentage which was ridiculous!
Faye says
I hope your right Chris, but at least to be fair to Icl we knew what they were going to pay out on. I have absolutely no idea how much redress they have awarded just always said TBD so it could be 3000 or 30 🤷🏼♀️🤷🏼♀️
Ben says
I would not get your hopes, in one of the update documents they said 3-5p in the £ is the expectation
E says
I have also just emailed them and had a automatic reply saying they are no longer taking emails! Let’s hope it’s soon 🤞🏼
Laura says
Mine has also disappeared. They are so poor at keeping people up to date!
Laura says
Active securities (247 moneybox) went officially into liquidation on 21/02 according to companies house so I think this is why the redress section has disappeared. Wouldn’t hope for much though-62,000 claims and only 3.4 million to pay them
Debbie says
Yes mine has disappeared so hopefully not long now
Bob says
Wondering if anyone has heard anything from MyJar or Harrisons regarding the selling of existing MyJar loans to Perch Capital? I emailed both MyJar and Harrisons on the 10th Feb (same day as received email from ACI stating perch have bought the debt) asking them to clarify the situation as I still have an affordability claim from over a year ago still open as far as I know. Neither have told informed me they weren’t upholding my complaint and neither have bothered to reply to me yet, 12 days is a joke.
Mer says
Hi Bob,
I too have a complaint with Myjar since February 2021 and heard nothing. Yesterday I received an email from ACI saying the debt had been sold to them. So I immediately emailed Myjar/Harrison’s asking for an update on my claim. Then I emailed ACI in reply to their email advising that I have an outstanding complaint with Myjar and I copied in Myjar/Harrison’s. I have not heard back from Myjar/Harrison’s, but ACI replied to me to say they have forwarded on to Myjar and will put my account on hold until I get a response from Myjar.
Bob says
thanks for the reply. Its a complete joke they haven’t told us the result of these affordability claims from a year ago. I did the same thing and emailed ACI straight away explaining the situation and they put my account on hold also. If and when I get a reply from Harrisons or MyJar I will let you know, if you could do the same for me aswell that would be great,
cheers
Mer says
Hi Bob,
Thank you and yes I’ll let you know also, if/when Myjar respond. I’d have thought the Administration would have dealt with the complaints before selling the debt, but guess that’s not how they work…
Chris says
Hi all,
I received an email from ACI regarding an outstanding Myjar loan from over 10 years ago. Can they still chase this?
Sara (Debt Camel) says
Talk to National Debtline on 0808 808 4000. They may suggest sending ACI their standard “statute barred” template letter/email.
Sim says
Hi Sarah
I just want to ask I had a payday loan from Kabayan Finance since 2012 until 2020 and I had complaint to FOS kabayan did not include my loans from 2012 to 2015 as it is more than six year and FOS had decided my case and the investigator said that if I will included the case will be re investigated and will take a while again. My question is can I make a different complaint of my loans from 2012 to 2015? As kabayan was given until March 8 to settle the amount for my current complaint.
Sara (Debt Camel) says
you should ask your adjudicator this.
Dave K says
Hi. Not sure if this is in the right section but I wanted to post a thank you to both Sarah and someone who posted a comment on here a couple of weeks ago who’s name I cannot remember.
The user had mentioned that they had put an affordability complaint to lending stream which was successful. I decided to do the same and used the template on this website. It was sent off last week anticipating that I would have to progress onto the ombudsmen.
It is a good job I was sitting down at my work as I have just received an email a week later confirming they have agreed to refund £12500 and this will be sent to me within 3-5 working days!!!! I had to get my partner to check the amount as I thought I was seeing an extra digit by mistake.
Thank you for all your hard work Sarah (and the person who posted about lending stream a couple of weeks ago)
Sara (Debt Camel) says
wow!
I don’t normally ask people this, but I hope you have some good plans for the money!
Dave K says
Well, as you mention it, my home is quite old and in need of updating. This is going to go a long long way in making that happen! (Also we are off to New York next year…..). Thank you again. Would never have attempted redress without your posts.
Sara (Debt Camel) says
how nice to do that and not have to put it on the cards!
Dave X. says
Hi there
I made a complaint to Indigo Michael Ltd (Tappily) due to irresponsible lending. They initially refused to offer any refund and said I still owed the full balance. So, I have taken my case to the Ombudsman, and pending their final decision, Indigo Michael Ltd have ‘changed their position’ and offered £476.49 redress taken off my current balance. This will still leave me £433.79 left to repay.
Do you think I should accept their offer to write off roughly half of the balance or refuse? It was my thinking that they may have changed their position as they think the Ombudsman will award me more, but similarly I don’t want to lose out on this offer if it’s the best I’m going to get!
Regards
Dave X.
Sara (Debt Camel) says
do you know how much interest you have paid in total with them? They may have given you this information in rejecting your complaint?
Unless you do, it’s hard to say whether this is an OK offer or a dreadful one…
Dave X. says
Hi Sara
I had paid £955.26 in interest as of 12/01/22, but I expect the figure will now be higher due to my outstanding balance which I pay off as part of a DMP.
Regards
Dave X.
Sara (Debt Camel) says
So they are writing off about half the interest.
how do you feel about this? if they had offered you that at the start would you have been happy?
it sounds as though don’t think your complaint will be rejected by FOS. But I can’t guess what FOS would decide.
Dave X. says
Well, it’s an okay result, but I really thought they would write off the total interest balance as I don’t believe their lending was responsible from the start. The interest they are writing off is roughly how much I accrued since a credit limit increase which caused me to get into further debt – which I assume Tappily now views as irresponsible lending. To be honest, I do want to see what the FOS come back with – my main concern is whether refusing this offer now will mean if the FOS side with Tappily I will not get any of my current balance written off.
I’m guessing that it’s just a gamble, right? If I refuse the offer, and the FOS reject my complaint, I’m still going to have to cover the full balance. I would rather have the guarantee of ~50% of my balance being written off than the possibility of 0% being written off.
Regards
Dave X.
Sara (Debt Camel) says
my main concern is whether refusing this offer now will mean if the FOS side with Tappily
That seems unlikely – if what they have offered is a refund from the point they increased your credit limit, FOS may think that is fair, so you would get the same as you are now being offered, not less.
Them making this offer means they do not expect to win the complaint and you get nothing.
Dave X. says
Sorry Sara – just on that last line – do you mean they do not expect to win themselves, or they don’t expect me to win?
Sara (Debt Camel) says
They expect they will lose and you will win. Otherwise why would they offer anything?
This sort of product – which FOS calls “running account credit” – had the highest uphold rate of any product in FOS’s statistics for the last quarter of 2021 published last week. FOS agreed with the customer in 80% of cases.
Of course that doesn’t mean the customer got a “full refund”, but it shows how few cases are actually being rejected by FOS.
brendan says
Hi
I spoke to you on 15 feb about myjar loans which is now with ACI-UK Limited. I won with FOS in 2020 that my loans should reduced to £1056 only now with ACI now say that i own £ 3067 i’ve sent all information to ACI about loans what was agree with FOS. ACI told me they will not reduced loans. So i contact myjar and the Administrators of my jar told me nothing they can do about this. What can i do about this?
Sara (Debt Camel) says
this was an adjudicator decison? Did myjar accept it? Have you made a complaint to the administrators? (Sorry if you have already answered these questions).
brendan says
Hi
Yes it was adjudicator decision yes myjar accept it and signed by me as well . Yes i ‘ve made a complaint to the administrator and myjar got know were with them. I don’t know what more can i do?
Sara (Debt Camel) says
have you sent a complaint directly to an adminstrator eg paulboyle@harrisons.uk.com with COMPLAINT as the title?
Daniel says
Hi Sara
I made a complaint to savvy on 13/12/2021 and the 8 weeks had passed and I received no response therefore went to the Ombudsman . Savvy have now been in contact with me claiming they did not receive my dispute and can’t find any details on their system ( they provided me with a summary 12 days before I complained ). They have said they are starting the complaint from 28/2 and the 8 week timeframe is effective from this date . I have refused this and stated the 8 weeks should start from my original email and have gave them until COP Friday (4/3) to respond . Should I do any more ?
Sara (Debt Camel) says
they provided me with a summary 12 days before I complained
So you asked them for a summary of something? then you sent a complaint? or did you do this at the same time as the template in the article above suggests?
Daniel says
Hi Sara
I asked for a borrowing summary for the loan I took out in 2017. This summary was provided to me on 1/12/2021. On 13/12/2021 I made my complaint and included the summary that was provided as I was worried savvy would say they couldn’t find any information like they have just done after I complained .
8 weeks passed and I had not heard from them so took my complaint to the ombudsman, they are now saying the process has started from now but I argue it should have started on 13/12/2021 not when they have now decided to acknowledge it due to the ombudsman being in touch with them.
Sara (Debt Camel) says
Well for anyone else reading this, it’s much simpler and quicker to ask for details at the same time as you complain.
The Ombudsman isn’t going to do anything until Savvy has responded anyway, so this is all a bit academic. At the Ombudsman you can supply the evidence of the date of your claim and ask for compensation for Savvy’s poor complaint handling.
Mer says
Hi Bob, I had a reply from MyJar yesterday that just said they confirm my affordability complaint is with the relevant team.
bob says
thanks for the heads up. Somehow they still haven’t responded to my email which I sent around 12 days before you did, incredible!
bob says
I finally got a reply, guessing it was probs word for word the same as yours, cant believe how long its taking for a simple affordability compaint, 13 months and counting now
“Thank you for your email and please accept our sincere apologies for the delay in our response.
As you are aware, the Joint Administrators, Harrisons, are dealing with the redress scheme aspect for the Company and any updates will come directly through them.
We are unable to advise any further on the redress scheme and apologise for any inconvenience that causes. Once Harrisons are in a position to provide customers with an update on the redress scheme, they will be in contact – however, as of yet, there has been no update to provide which is why no contact has been made.
Please be advised that the sale of your debt is separate to the redress scheme and does not reflect your redress claim outcome, which is yet to be decided. “
Faye says
Hi Sara, I wondered if you had read Harrison’s report(companies house) active securities, now I tried to absorb it, on my reading Harrison’s are now 10 million in, I think there was 3 million left for 60 nearly 70 thousand people 😆😆now I’m no clever Einstein but surly if they had just liquidated the company in the first place there would have been a lot more for redress, so the only winner is Harrison’s and their other company that was employed to help in the wrap up of 247. I feel sorry for people who debt has been sold on, for Harrison’s to thrive!!! Thief’s in my opinion and about time this was looked at by the he governing bodies.worth a look Sara hopefully I have read it right.
Sara (Debt Camel) says
No I haven’t looked in detail.
The problem is that someone has to deal with the assets and sort out who has valid claims. That is the administrator.
Laura says
Yeah I read it as 3.4 million for 62,000 claims which doesn’t bode well for getting much! And no idea when it will be paid either, last update on website November 21 👀
Faye says
Yes I’m kinda thinking there will be nothing left soon…hope I’m wrong but no communication and all bank details etc gone from the website now seems weird.. but as usual the fat cats get fatter🤪I’m sooo skinny😂😂I just really feel for the people who now will be hounded for money it really sticks in my throat I would rather they just wiped all debt from everyone and no one get the measly scraps they might throw us!!
SK says
I wonder how much the debts were sold on for… Just before they sold the loanbook I had £328 outstanding balance, offered them £25 full and final settlement and they accepted it! 😆
Lynne says
Does anyone have any experience or dealings with United Kash? They suddenly started chasing me for a loan with Diffetent Money (who now no longer exist). As well as this, the loan was from 2010 so I informed them I had no records of this loan and that as it was over 6 years old surely it would be considered statute barred. They said not and that I’m still liable but that seems hard to believe as it’s 12 years old?
Although I marked their emails as spam one has today managed to get to my inbox and now they’re saying they’re offering me 50% discount to settle. I just keep ignoring them but this has gone on for a year or so now.
Sara (Debt Camel) says
I suggest you talk to National Debtline about this – 0808 808 4000.
Lynne says
I just saw that Oakham finance has just gone bust as well
Jo says
I’ve had an email from a company called ACI to say they’ve bough the log book from myjar and now own my loan which was strange because I’ve paid it off. Just incase anyone has outstanding debt with them they might want to chase it up. I don’t even and I’ve still had to raise a dispute and prove it x
Sara (Debt Camel) says
I had no idea myjar did logbook loans!
Some of the admin in Myjar’s loan sale has been poor :(
Jo says
It really has, I spoke to ACI to sort it and asked if the redress will still be coming from myjar and they said it’s all been done and paid already. Rang myjar and they said no that’s still an on going process. Messy all round I think x
john says
I got a letter in this morning from Harrisons, its regarding 247 Moneybox.
Has anyone else got one?
https://harrisons.uk.com/wp-content/uploads/documents/ACTIV004/Letter%20to%20Creditors%204%20March%202022.pdf
Its basically for potential creditors, yet they want proof of debt.
Also included is voting forms.
Sara (Debt Camel) says
It is clear that borrowers with affordability complaints do NOT need to submit a proof of debt:
“CUSTOMERS / REDRESS CREDITORS DO NOT NEED TO SUBMIT A PROOF OF DEBT
FORM (These claims have already been agreed by the Administrators)”
Faye says
Hi John, yes one dropped in the letterbox this morning, but as Sara has said it is for creditors not redress customers. I had a little giggle that they must have sent these to everyone (66,000) customers first class quite bulky letter maybe a £1.00 a pop…£66,000 less in the pot now, for a letter that doesn’t concern redress customers 🤷🏼♀️🤷🏼♀️
Laura says
And the cost of photocopying/printing which they say is 15 pence a sheet!
Katie S says
This is relating to Lending Stream
I think I may have emailed them a couple of years ago re an affordability claim which they rejected. At the time I didn’t think it was worth pushing but I have more of an understanding of the process now. Can I submit a claim again or have I missed the boat?
I feel I have a very good claim as I had 12 loans in 12 months, often running alongside each other and several times I paid a loan off only to take another out the next day.
Sara (Debt Camel) says
no, you can’t make the same claim again.
stefy says
Hey Sara! The same happened to me..but they just sent an email years later saying this: “As part of a business review, we’ve been looking at some loans we made in the past.
One of the things we looked at was whether the information we had at the time we gave you the loan was enough for us to be confident that the loan was affordable for you.
It’s important to us, as a responsible lender, to make sure we only give loans to customers who we believe can afford to repay them.
We’ve identified a loan or number of loans we gave to you where we may not have had enough information for us to be sure that the loan we made was affordable for you. The details are shown below” (loans for £290, £170, 400£, £600 then £400 again). I filled some info on my housing at the time but what do you think will happen? I’m surprised they looked at this again so even if they say this was affordable, I will argue for a refund or at least removing the default from my credit file…
Sara (Debt Camel) says
oh I should argue for a refund!
I wonder how many of these emails they are sending out?
stefy says
I wondered about that too, that’s why I came to the site and see if there was anyone else!! Why do you think they’re doing this?
After I answered the questions they asked on housing – how many ppl I lived with, it if was private rent or council etc… I received a vague automated email that said this: “Many thanks for taking the time to submit the additional information we needed to evaluate if we made the right decision on some of your previous loans.
We have looked at what you told us, and we are confident that for the loan or loans in question (and we’ve set them out again below) , we made the appropriate decision.”
I will argue for the refund on the interest of these loans and deleting the default from my credit file…
Sara (Debt Camel) says
Why do you think they’re doing this?
either they have been told they should do this by their regulator, the FCA. Or they are worried that the FCA may say that and they want to look a bit better by doing it voluntarily.
Sara (Debt Camel) says
How many loans did you have from them? Did they uphold any of them? How long ago was this?
stefy says
I had 9 loans from them with amounts increasing over time, but they only referenced these 5 loans, which I do think were the ones that were unaffordable. At the time they didn’t uphold any of them.. First loan I took was in 2016 but then I took the last one in 2018 and shortly after it defaulted and then I made an affordability complaint to them back in 2018. I think you are right and they are worried about FCA..but I will definitely fight it this time! When I first complained, I was doing that with PiggyBank, Myjar and a couple of others and was overwhelmed and Lending Stream were the most unresponsive, but will now take the opportunity to argue for a refund!
Sara (Debt Camel) says
Ask for a complete list of the loans and the dates and the interest paid on each.
it helps to have this so you can point out things like the loan amounts were tending do go up, there were few gaps between the loans etc. And to note if you sometimes had more than 1 at once.
stefy says
Definitely, will do! Thank you so much for all your advice Sara! I do hope more people will get this email and hope that they will get their credit records cleared and refunds too!
stefy says
They got back to me and said the following:
“We write in regards to the correspondence received from you on 7th April, 2022.
We understand you are concerned about the affordability of loans offered to you. When we looked into it, we found you’d already raised this complaint. As we shared our final response in October, 2018 and we consider this to be closed, and we will not be revisiting the matter again.
We appreciate your understanding in this matter.
If you have further questions or would like additional information, please reply to this email.”
I don’t understand why they’re sending out those emails if they’re not actually willing to look into it or give out any refunds or reassess the loans affordability.
John says
wondering if anyone has had any success with with the money platform or fernovo? I have just made affordability complaints to both, cheers
Teffy says
Money platform are a nightmare! If you do go to FOS be prepared for them to use every type of defence with the adjucitor (first said they are not covered under FOS due to the type of lending they provide and secondly if you ever had to borrow and pay back early to borrow a higher amount (repaying in the cool off period) they will argue also)!
Fernovo are very reasonable, I did not need to go to FOS and they dealt with my complaint swiftly
I have been back and forth with my adjucitor many times over the last few months as they are really digging their heels even though my adjucitor already gave them the first outcome (in my favour)!
Sam says
hello all.
anyone had any luck with my finance club?
have they got back on time, accosted or declined?
time scales or any info really
thanks!
Sara (Debt Camel) says
they are a very small lender, hardly ever mentioned.
That isnt good or bad – it just means your request is unlikely to be seen by anyone who has made a complaint against them
Mel says
Has anyone heard anything from 247moneybox regarding redress ? I read it could be March ?
Ross says
Hi Mel,
Nothing apart from the fact that the redress and bank details section appears to have dropped off peoples accounts on the 24/7 site. This may be a positive, as all it ever said was ‘TBD’ under the figures. I wouldn’t hold your breath, for March, as they’re still in the process of liquidating the company.
Ross says
*** UPDATE ***
The redress section has now reappeared, after logging in to my account, with a green tick ✅ saying ‘Claim acceptance received’ and that theres nothing further to do, until being contacted by the administrators. They also say any attempts to make contact won’t speed things up and ‘could cause delays’. Just a case of sitting tight now.
Mike says
That suggests they are getting things in place to make payments soon then. Slowly ticking off all the con merchants that are due to pay me money.
Neil says
Hi,
Has anyone ever had payday redress from PoundsTillPayday part of Northway Group & based out of or registered in Malta I believe.
I’d managed to find a Northway Group site 2 or 3 years ago & filled in the online query form about my loans but it was bounced back with error of some sort. Anyway I handed over a small fortune to that lot & just wondered if any lucky people out there got a refund from them?
Sara (Debt Camel) says
Yes but years ago. See https://debtcamel.co.uk/swift-sterling-pounds-till-payday/. It is now too late to take these claims through the Malta process.
Sam says
Hi Sara
my finance club came back today on the last day
said they’ll agree to 4-8 out of the 11 loans i had with them.
i paid about £300 for borrowing it.
they’ve said £143 back
would you accept or ask for maybe extra couple loans?
Sara (Debt Camel) says
so why not loans 9-11? was there a large gap or were these much smaller?
Sam says
not sure didn’t say!
and no, loan 8 was May.
9 was June
10-11 was 1st and 31st August.
His Words
Having reviewed this situation, loans 4-8 would not now have been issued to you under our current lending practices and therefore, as full and final settlement of this matter I am willing to refund the interest paid by you on such loans to you.
Sam says
most loans were 100-120
the last 3/4 was 150 paying back 180-200
Sara (Debt Camel) says
I suggest you ask them why loans 9,10 and 11 were not included. As you will send the case to the Ombudsman if you do not get a reasonable explanation for this.
Sam says
They have said those loans were within the first year of the first loan taken out.
I think il take what they are offering to save another huge timeline for not much return.
Sara (Debt Camel) says
That is a nonsense reason. Well it is a reason to refund those loans AND ALL SUBSEQUENT LOANS unless there was a large gap of several months.
But it’s your decision. It would only be another £90-£120 from the last three.
Ryan says
Hi Sara
First off thanks for your help as always
I have had a response to an affordability complaint from Cash4unow, they have offered to refund all interest for my loans which is good. The email reads that “Statutory interest will be calculated if you accept our offer; this is because this interest accrues daily and is based on the day that the refund is processed”
I have until the 25th (2 weeks) to accept the offer
My question is, if they are applying a standard 8% to this, is the extra 2 weeks worth waiting to increase the amount of interest they pay? Would it even be much money? The refund is around £370 without interest
Sara (Debt Camel) says
an extra 2 weeks would be just over £1 more in interest :)
Gary says
I’ve done the same , how long did it take for you to get a reply from Cash4unow ?
Bob says
Just received an email from Harrison’s regarding myjar, it seems whoevers debt was sold to perch they didn’t have their affordability complaint upheld, really annoyed at this after waiting 13 months
“Since our appointment, we have undertaken extensive investigations into the historical lending practices of Myjar and following engagement with the Financial Conduct Authority have reached a conclusion based upon a set of criteria to be used in assessing whether a customer qualifies for Redress, (‘Redress Methodology’). The Redress Methodology has formed the basis for evaluating all customer complaints and has been applied to the particular circumstances of each and every customer that ever had a loan with Myjar. Further information on the eligibility for Redress can be found in our most recent Customer Redress Scheme and FAQs update, which can be found by clicking on the following link, https://harrisons.uk.com/myjar/
Unfortunately, I regret to inform you that you do not meet the criteria contained within the Redress Methodology and as such your complaint cannot be upheld.
Since you do not meet the criteria, your loan account was sold to Perch Capital Limited (Perch) and you should have received an email and or text message to inform you of the Notice of Assignment from Myjar to Perch. Perch has appointed ACI UK Limited to manage the collection of the outstanding balance of your loan account. “
Dave L says
I was advised by the IP that my loan had been sold by mistake and that they had bought it back due to the right of set off
Bob says
Im just looking at my credit report on clearscore and I now have a new entry from perch capital aswell as the orginal entry from MyJar, is this correct that I have 2 entries on my credit report regarding the same loan? Will the MyJar entry now be removed after Perch bought the debt?
the MyJar entry is listed as a “special arrangement” and the new entry by Perch is listed as “in default” , if I’ve already been defaulted is there any point in me agreeing to repay Perch Capital? thanks for any advice
thanks
Sara (Debt Camel) says
is this correct that I have 2 entries on my credit report regarding the same loan?
yes that’s right. But only one of them is counted in the credit scoring.
if I’ve already been defaulted is there any point in me agreeing to repay Perch Capital?
if you don’t, they may well go to court for a CCJ.
Can you make a settlement offer?
Bob says
thanks for the reply, apparently ACI who are collecting this debt on behalf of Perch haven’t received any information yet from MjJar. I had already asked them for an idea of a settlement offer when they first emailed me a month ago.
Bob says
I should’ve added in the previous post, can Perch remove the default from credit file if they wish to? When I make them a settlement offer im going to include the removal of the default from my file, Can they do this easily enough? just so I know if they’re bullsh*tting me if they say no, thanks
Sara (Debt Camel) says
Yes but it is against the credit scoring rules for a lender to do that without a good reason
Alw89 says
Hi everyone, just going through the quickquid process and thought I might check old bank account statements to see what others are on there. Does anyone know which current payday lenders these bank transactions would relate to? And if I could still claim.
– think banking AUT
– textloan.do.uk
– 1monthloan.co.uk
– 1ST locate (uk) LTD
– express finance
Thanks for your help! Have a great weekend!
Ross says
I think Textloan was another trading name of MyJar (now in administration). Express finance was Payday Express and this was wound up a while back and they made a final payment in December 2021. Too late to make any claims for this one.
Sab says
Hi Sara
These are the figures on the final letter I just received from SafteyNet saying they will only refund interest and charges after the 01/08/21 which is when they claim they say a spike in my gambling. Is there any scope to increase the amount refunded or take what I’ve been offered? Thanks
Total amount borrowed: £6,179.70
Interest added: £281.86
Total repaid: (£6,211.87)
Amount written off: £0.00
Outstanding balance: £249.69
Interest (to be written off): £28.42
Outstanding balance minus interest: £221.27
Total amount repaid: £6,211.87
Amount applied to funds borrowed: £5,958.43
Interest repaid: £253.44
Statutory 8% interest: £12.31
HMRC 20% deduction: (£2.46)
Redress due: £263.29
New outstanding balance after redress applied: £0.00
Amount written off from your balance: £221.27
Redress to be sent: £42.02
Sara (Debt Camel) says
how long have you used them for before aug 21?
were you gambling before then? how much?
Sab says
Opened on 18/02/2021.
I have gambling on my statements for around £10,000 from the year before.
Sara (Debt Camel) says
ha! Well go back and say you want a full refund from when the account was opened as your bank account showed you already had a big gambling problem at that point, or you will send the case to the ombudsman.
Matt says
Hi
Had 8 payday loans in 3 months recently with 3 companies,. Got caught in the cycle of getting another to pay off another.
Is this worth pursuing for a refund?
On top of these payday loans I’ve got 4 other long term loans, 2k overdraft and 3 credit cards.
Credit rating is fair with no bad history…
Many thanks
Matt
Sara (Debt Camel) says
Are the payday loans currently paid off? Have you had more than 1 loan at a time? or in order, one paying off the next. Hahev they increased in size?
the long term loans – how large? who are the lenders?
the overdraft, are you in the overdraft all the time – not getting back into the black on payday? or only for a day or so? If yes, how long has this been going on?
The credit cards, have they increased your limit while you have only been making minimum payments? while you had payday loans?
what is your debt total now? what caused you to get the first payday loan?
Sorry for all the questions!
Matt says
Had 4 payday loans at once!
Varied in amounts
The larger loans are with high st lenders about 1-3k each
Overdraft has been going on for 4-5 yrs ( I increased it )
Got into a gambling habit but I’ve stopped now and kinda getting on top of my finances due to selling some assets.
Thanks
Sara (Debt Camel) says
So your total debt is?
Are the last payday loans cleared?
And how much of the month have you been in your overdraft for?
Assets – do you have anything left to sell?
And how long ago did you get the cards? presumably not all at the same time, did you have gambling showing on one Newday card/Capital One card when that lender gave you the next one?
Matt says
Total debt is around £8k
Cleared 1 of 4 payday loans
In my overdraft 80% of the month
The cards are quite recent so no
gambling transactions on them
Many thanks Sara
Sara (Debt Camel) says
Then I think you should talk to National Debtline on 0-808 808 4000 about all your debts – they may recommend a debt management plan where interest is frozen. Or a form of insolvency if you are renting, not buying.
Complaints to the payday lenders are not going to solve your problem, they are just a small part of it. So you need to get a way forard that works for all your debt.
Thomas says
Hi,
Does anyone have any information on CASHASAP.
Are they hard to deal with?
Also my loans are not on their “my account page”. These were paid off in June 2020..
Laura says
Easy to deal with agreed and paid out to me within 2 weeks of me complaining directly to them
Thomas says
Hi,
Does anyone have any information on MoneyBoat
Are they hard to deal with?
I had 5 loans with them which I believe were all unaffordable.
Sara (Debt Camel) says
They are unpleasant, suggest you may have committed fraud. But no-one who has ignored this and sent their case to the ombudsman has any problems with this.
Thomas says
Hi, thanks for the quick response. Is it often they offer a refund or do most of these go to the ombudsman?
John says
MoneyBoat a nightmare to deal with, as Sara says, they will reply and threaten to report you for fraud, they did the same with me also but its just a bluff. You will almost certainly need to go to the Financial Ombudsman regarding them. One positive thing though I would say is atleast they dont wait the full 8 weeks to respond to your complaint, iirc they got back to me after about 2 weeks
Dave R says
They were one of the first lenders to respond to me and offer a partial settlement, and in my desperation at the time, I took what they offered when I should have gone to the FOS. Horrible to deal with, in addition to the fraud threats, I found them rude at every touch point and and extremely belittling. Good luck! Stick it to them!
Bob says
Made an affordability complain with Fernovo last week, to my surprise they have already replied saying they wont uphold my complaint, however have offered me £50 as a gesture of goodwill. I have had 5 loans with them in the last 6 months and paid a total of £290 in interest and fees. Even after the 2nd loan where I took 3 months longer than expected to pay it back they still loaned me a further 3 times. I have replied to them with a counter offer, hopefully they accept but looks like ill have to go to the ombudsman about them.
Beck Mash says
Did you hear back? I got the £50 offer too
Elaine says
Good Day Everyone
I am trying to find the correct email address to make a complaint to Easy Logbook Loan that I took out May 2016 and made payments to a Christian Gachet. Loan for £1250 and paid £3000 back.
Thanks
Sara (Debt Camel) says
try gachet@btconnect.com
P L says
Hi Sarah, thanks for the website its been really helpful, I approached 247moneybox, and made a complaint through Resolver, however I got a rude response saying that my case was reviewed, but I dont have emails or communication or even access to that account, when ive asked for evidence they have sent a response to my email in Resolver like.. ” im out the office”
the reason I think this response was not automated was because ive replied minutes after they send me the first reply and that reply was like 1 hour later.
should I escalate this straight to the ombudsman?
many thanks
Sara (Debt Camel) says
unfortunately the Ombudsman will not look at a case where the lender is in administration.
I suggest you stop trying to communicate via Resolver, it doesn’t help at all in cases like this.
I am not sure what evidence you are asking for? Have you been told your claim has been rejected?
P L says
Yes , and they just stopped replying
P L says
The evidence I’ve asked it was my loan detais and how did the new administration have my case closed and apparently I had agreed.
“Thanks for your email. The Joint Administrators have already assessed all loans provided to you by 247Moneybox to determine whether you are due redress. I can see you have previously accepted their assessment.
The Joint Administrators’ have provided a detailed update of the redress procedure on our website.”
Sara (Debt Camel) says
So were you informed of this before?
P L says
I wasnt unless they had send correspondence to my old address
P L says
Hi Sara, so I finally was informed that this was with a company named Lantern, because Lantern contacted me and showed me a statement where it says my opening balance was £80 and the settlement is £159.
What options do I have?
Sara (Debt Camel) says
Was this a loan for £80? had you had other loans fro 247 before?
What other debt problems do you have?
P L says
Yes it qas the only one and i camt remeber the amount ive borrowed from 247 moneybox, I have my credit damaged but no ccjs or other markers appart from delfauts and late payements.
I had no clue how was the criteria of scoring when I’ve moved to the UK.
All started with a payday loan because I needed the money to secure a tenancy and that payday loan of £400 8 years ago turned easily into a snowball, taking more loans to pay for the previous ones and turned into £18000.
Sara (Debt Camel) says
then you would be highly unlikely to win an affordability complaint for 1 small loan at the ombudsman.
Later in the snowball when the loans were larger or you borrowed several times from the same lender, you may well be able to win complaints.
Do you still owe 18,000?
P L says
Yes I do, I have a look onto my situation and I can see on my credit report late 2018 my credit usage soared as I was taking more credit to different lenders , that included a £2000 everyday loans , £1500 to amigo ( big stupidity ), £ 759 to likely loans and, about 5 credit cards among other catalogues jd williams and look again.
Im putting together a complaint to Newday as i had 4 credit cards with them and as they were defaulted i was aproved to another one and its obvious they havent done the affordabity checks as if otherwise they would have realised i was already behing my payements with them.
At amigo I had placed a complaint already last year in August, and I’ve stopped paying them as I’ve already paid off the amount I borrowed and I cant afford to pay towards my monthly instalment, my guarantor had complained as well and they haven’t tried to take any money from him to date.
Likely loans I was able to top up my loan but I can’t remember when and how much, and need to think how I’m going to approach them.
JD WILLIAMS I started with a limit with £200 and it went all the way up to 1500 In a space of the year.
I had already complained to Loans2go and it was a £300 I didn’t even paid the first instalment and it was marked at £1230 on my credit file and they were all annoyed and somehow I looked at my credit report and they marked it as satisfied with £0 arrears.
I apologise for the long coment
Sara (Debt Camel) says
that Newday complaint sounds a very strong one!
Hopefully you win the Amigo complaint – you have to decide whether to vote for Amigo’s Schemes so Amigo decides the complaint) or against both hoping they go into administration and the so the administrators make both decisions.
Big JDW limit increases so quickly – not good if you were only paying the minimum amount.
P L says
Im Working on a complaint based in some bits of information I’ve gathered from here and im really positive that it has to work, I need to ask you couple questions Sara.
In the casuality that, any of the complaints to the credit cards comes back either not upheld or refused ( ive asked refused because a credit card from capital one is dated from more than 6 years) would it be best to reply to them requesting my CCA or SAR?
Sara (Debt Camel) says
send complaints to the Ombudsman if refused. Even if they are over six years old the Ombudsamn can decide to look at them if you only became aware you had a cause for complaint in the last three years, so explain that you knew the cards were causing you difficulty, but you did not know the lenders should have checked increased limits were affordable for you so until you found this out (explain when and how) you didn’t know you had a reason to complain.
Have the debts been sold to debt collectors?
P L says
Capital one was sold to Lowel in 2019 im not sure about the other ones
Mel says
Has anyone heard anymore from 247 ? I read it could be March 22 (now, assuming I do have the year right!) for a dividend payout. I thought Wongas administration was a total shambles, this lot are even worse, communication is dire with them
Vh says
Hi Sarah
Being chased by debt collector ACI re myjar £512 owed from way back
My jar in administration I just had email plus says I can’t now go ombudsman
Is that correct
Says no redress at all an says they checked that
Is that cirrrct
Thankyou
Sara (Debt Camel) says
Yes you can’t go to FOS.
How many loans did you have? How large?
Vh says
£800 in total so do owe this
When they went into admin in 2020 not heard a word until this week an completely forgot about them
Sara (Debt Camel) says
So that sounds not a lot for more than one loans. You probably may not have won a complaint at the Ombudsman.
What is the rest of your financial situation like at the moment? How large are your debts? are you behind with any bills?
Emily56 says
Can I get hard and soft searchers removed from credit file if these were irresponsibility lent? If not how long do they stay on my file for a when go off it can nobody see these?
I was also wondering if I could complain to a company called steady pay? I have noticed this is not listen on resolver
Thank you
Sara (Debt Camel) says
I have never heard of these being removed. Only you can see soft searches.
Steadypay are FCA regulated so you can complain and take a complaint to the Ombudsman.
Emily56 says
Sorry I had also complained about Oakham but they said they could not uphold this as they have changed their name. Can I complaint with their new name please ?
Thank you
Sara (Debt Camel) says
Wow that is the worst reason I have ever heard of for rejecting a complaint.
they have recently gone into administration but you can still make a complaint, email them here complaints@oakam.com
Emily56 says
Sorry I mean resolver had said that they cannot uphold it as they have changed their name
Sara (Debt Camel) says
send the complaint straight to the lender, don’t bother with Resolver.
emily56 says
I had dome this and they had rejected, but other lenders accepted that it was irresponsible and resolver have told a few to refund me as they go through them
Sara (Debt Camel) says
OK but if you want to pusure this, you can no longer go to the Ombudsman and it’s going to be easiest if you complain directly to them, not using Resolver.
Emily56 says
Can I take it further with them even though they have rejected it on 19 November?
Sara (Debt Camel) says
Then you are within the 6 months when you could have gone to the ombudsman. But now you can’t. I think the administrators should agree to look at this again.
Mack says
Hi
Is it justifiable to make a complaint for 1 loan I had with quid market. I had 3 other ongoing payday loans, 4 other loans, 3 credit cards and £2k maxed out overdraft. I was borrowing from quid market to pay off another payday loan.
Many thanks in advance
Sara (Debt Camel) says
how large was it?
Your overdraft, how long had you been in your overdraft, was this all month, not getting back into credit even when you were paid?
the credit cards, had they increased your credit limit while you were paying the minimum amount?
Mack says
£500!
Been in my overdraft for 8 yrs. I’ve just started a complaint with Halifax.
All the credit cards are low balances £200-£1k with no increases
Sara (Debt Camel) says
£500 is worth a try but isn’t clear cut – be clear you will take it to the Ombudsman if they don’t accept.
Mara says
Hi Sara
I was taking payday loans from Speedy Cash, but I haven’t found them on the list. Do they have a new name? Or they got dissolved years ago?
Please let me know
Thank you in advance
Sara (Debt Camel) says
long gone. They were part of the same group as Wageday Advance.
Helen says
Hi,
I complained to lending stream last week and they have already replied offering me around £500 compensation for loans 7,8 and 9 of 9 loans I had with them over about 12 months, with the following comments:
For loans 1 to 6:
After subtracting your expenses, you had more money than the amount you needed to repay us each month. You would still have money left over to
spend on other things. This means that these loans were affordable.
For loans 7 to 9:
Although these loans were 7 to 9 affordable, we have thought about the number of loans and the time between each loan being taken out. We can see
that it might not have been a good idea for us to make these loans.
Does anyone think I should take my complaint to the ombudsman? The reason being my loans were taken out on the following dates:
1. 2020-07-30
2. 2020-09-29
3. 2020-11-06
4. 2020-12-12
5. 2021-04-06
6. 2021-05-04
7. 2021-07-07
8. 2021-08-03
9. 2021-08-13
So all my loans were relatively close together, do you think I’d have a good case to go to the ombudsman or should I just accept the offer? I’m not unhappy with the offer so if its going to be hit or miss with the ombudsman I will just accept it.
Sara (Debt Camel) says
how large were these loans, can you list the sizes in order please.
Helen says
£200
£150
£200
£300
£150
£200
£200
£170
£170
I got myself in the situation at Christmas time where I had 8 different payday loans out with 6 different lenders and the repayments were more than I could afford, this wasn’t the first time that’s happened, so although these loans by themselves were affordable, combined they all weren’t and lending stream used to encourage me to apply for my full limit and have the maximum of 3 loans out at once, which has contributed to me being in this situation.
Sara (Debt Camel) says
Where was Christmas in this list, at the start?
Helen says
I was still paying off the last 3 loans as they were all 6 monthly repayments.
Sara (Debt Camel) says
I think you may well get the 6th loan refunded at the Ombudsman but it’s not certain. Possibly 5th.
But if you aren’t unhappy with the offer, it’s up to you.
Lynne says
My credit report shows ‘no accounts in arrears’ but then one shows ‘in default’. What’s the difference?
Sara (Debt Camel) says
Arrears are where the lender has recorded up to 6 missed payments. A default is where they have added a default date.
Ann says
Hi,
I am trying to sort out a mess. I took out a Drafty line of credit a few years ago when my partner had serious health issues and was off work for a few months at a time. I have been juggling debts for year missing some payments to pay others for years. I am finally making headway, but am stuck now with getting on top of my priority debts. I have recently been diagnosed with ADHD,
So impulsivity and not reading the fine print are issues for me. I didn’t realise how but a deal priority debts were, and I am very behind. I need to priorities these and not pay the smaller loans I have. I have about £450 left on my Drafty. I was initially given a line of credit for £1000, then it was increased to £1400 and then £1600. My partner was off work a lot so if they had done any serious checks they would have seen is it worth me making an affordability complaint for this?
Thank you!
Sara (Debt Camel) says
Yes, make a claim to Drafty using the template in the article above.
Can you say what priority debts you have?
Apart from this Drafty debt, what other debts do you have?
Ann says
Hi, I have a lot. I need to get caught up on council tax, gas and electric. I also have a today loan with Dot Dot, and Safety Net. I also have a couple credit cards and a big loan that is with a debt collection agency. My partner is healthy now and we both make good money now, so I have the cash to pay towards things. It was a long painful few years where I wasn’t making much and he was off work a lot and I had to carry the weight. I have paid off almost £12,000 in the past year or two. Still have £20k to go. I am grateful for the adhd diagnosis help me see where I need to improve, but frustrated with the mess I have to clean up partly to circumstance and partly to bad decisions. My partner is on board with paying off, but is insistent we need to leave a bit of money for us to enjoy life a bit as we haven’t had much of a life even before the pandemic due to I’ll health. Thank you for the help!
Sara (Debt Camel) says
the loan with a debt collector – how large is it? what was the interest rate?
How long have you been using SafetyNet credit?
You HAVE to prioritise the council tax, clear your gas and electric arrears and be prepared for the increasing gas and electric bills.
Ann.. says
Safety net has probably been 3-4 years, most debt was taking out trying to stay on top when things went bad four years ago.
Council tax will be mostly up to date this week with a plan in place with them going forward. Gas and electric will be sorted in a few weeks. They are my top priority.
Large loan has £6k left, it was taken out probably five years ago and was rolled from £5k Loan into a £10 k one. I can’t remember what the interest was at the time. It was with a high st bank so wasn’t as high as a others. There has been no interest accruing while it is with a debt collector.
Ps. I locked in our energy rates in November, so they aren’t as good as they used to be, but are way better than what’s going on now and locked in until November 2023. I work from home and we are on top of our energy with the smart meter, and we aren’t going out as much to manage fuel costs. I am equally saavy and stupid with money 🤦🏻♀️
Sara (Debt Camel) says
The “equally savvy and stupid with money” isn’t as rare as you may think.
If you set up routines for checking your budget, bank account etc, they can cut through the “over-thinking” and obsessive thoughts that are common with ADHD.
If you don’t mind another social network, then there is a big #debtfreecommuityUK on Instagram. For moral support as things continue. I am @debtcamel over there.
From what you have said, you should also be making an affordability claim against Safetynet Credit – same as Drafty.
Laura says
Definitely try against safety net! I had them for four years, made complaint (Was 800 in it every month) they agreed within 6 weeks and paid out over 4000 to me
Jayne says
Does anyone know how long bamboo take to look at complaint ive had phone call of them and acknowledgement email in 1 day
Susan says
I recieved a letter from Harrison’s who are dealing with 247 money box, anyone else had one?
Sara (Debt Camel) says
what does it say?
Susan says
Just about the administration has the break down of costs right down to the photocopying of papers
D says
Hi Sara,
I have had account with SafetyNet since 2018 starting with a credit limit of 300 then with 390 now at 510. Every month since opening the account I have had to use it all and the full balance incl all interest is repaid in full by the end of the month to avoid a negative mark on my credit report. I still have to borrow back the full amount each month to cover bills and living expenses. To date I have paid over 3000 in interest and will have to pay a further £100 of interest this month. . When I first applied for SafetyNet, I had two different loans in default on my credit record and had been regularly going into an unauthorised overdraft. My bank statements around the time would’ve contained some gambling and even though I have my gambling under control, still shows gambling. My only concern is that I repaid in full every month which may seem like the loan was actually affordable. Do you think I still have a case?
Thanks D
Sara (Debt Camel) says
Yes this sounds like a very strong case. Repaying is not a sign you could afford it if it left you so short you had to borrow again.
I suggest you make a complaint and if you aren’t sure they have made you a good enough offer, come back here and ask.
D says
Thanks for the reply. Seeing how you’ve helped countless others with your advice, I decided to send an email to them and it’s now a waiting game. I’m my email I asked for them to remove any negative records however due to making all payments on time, I don’t have any negative records from them. I feel I’d be happier if they completely removed any record of themselves from my credit report. Should my complaint be upheld and they make accept my offer, would it be reasonable to request a complete removal instead of removing any negative entries? I decided to I’m committed to sorting my credit score this year and this would be a great help.
Sara (Debt Camel) says
If there aren’t any negative entries, it shouldn’t harm your credit score.
Jade says
Hi Sara,
I found your website originally because of the QuickQuid administration where I’ve been following the comments recently for updates. I took your advice to contact other lenders and contacted Lending Stream who was the other company I had many loans with besides QQ.
I sent an affordability complaint to them on 15th March and received a settlement offer from them this morning (so 9 days later) of £1349.72 which is for 12 out of the 16 loans I took out with them between 2012 and 2016, which I am more than happy with – especially as all but 2 of the loans were over 6 years old which made me think they would reject my complaint. The process was really simple, I followed the link they sent me (I was wary of this given all of the advice relating to scams and to not follow links online asking you to enter bank details – if other people hadn’t talked about this being part of the process here in the comments I would have been very hesitant) and the money was in my account about an hour later!
I just wanted to say a huge thank you to you Sara for all the work you do on this site. I was in an awful cycle of payday loans, credit card and overdraft debts from 2012 to 2017 and wish I had found your site during that time. I have long beaten myself up for those years and never thought I could recoup any of the money lost during that time, so this is a wonderful surprise.
Thanks again,
Jade
Andy says
Wish i had came across this site a couple of months back.
Intructed a solicitors to follow up my claim with Lending Stream, Lending stream have came back with an offer of £3,200.00 but the solicitors take 36%!
Has anyone had any experience of the timeframe it takes Lending Stream to pay out, it did say 3-5 working days when i accepted the offer but i’m dubious.
I’ve used one other loan company in the past which was Mr lender, i have just used the template off here and sending it to their complaints department, has anyone had any luck with lending stream? From my emails it looks like they supplied me with 16 loans between 2018-2020!
Lynne says
On my first dealings with lending stream they weren’t too helpful however after further contact/complaints etc they refunded what I’d paid and wiped off the rest of what I owed all in a matter of days. And even better they agreed to remove it from my credit file.
DaveK says
Andy, I sent a template from this website to lending stream a few weeks ago. I’d had 20 odd loans throughout the same period. A week after sending the template they sent me an email with a refund offer of 12.5k. There was a link in email to click if I accepted offer. The money was in my bank around an hour later
Andy says
That’s great!
I accepted the link on the email pdf on Wednesday, but still no payment as of yet
I have spoke with live chat who have confirmed the amount and bank account the money is due to go in to, so i guess i have just got to wait it out a few more days
Mike says
Mr Lender will play hardball at first (bit awkward, the usual warning about fraud) and they take a little longer to come back but OK in the end. They drop the awkwardness once they realise you’ll put up with it to get a payout
Lynne says
Are there any payday lenders still in existence? Just wondering if there’s anyone I’ve missed to complain about!
Mike_p says
It would probably be easiest to get a copy of your credit report and see who you have borrowed from, and then look them up to see if they are still going or if you are still able to complain to the administrators.
Sara (Debt Camel) says
List your high cost lenders, Lynne, and I’ll tell you.
Lynne says
The ones I remember lending from
Red wallet
Loans 2 go
Fair finance
Oakham
I’m sure there was more….
These ones I’ve heard from and/or settled:
Wonga
Ferratum
Quickquid
Cash 4 u now
Caahfloat
Moneyboat
Lending stream
Mr lender
Uncle buck
Sunny
Satsuma
Sara (Debt Camel) says
Red Wallet was a trading name of uncle Buch – they went into administration a while back and the deadline has passed to make claims.
Loans 2 Go is still going -the worst loans in Britain I call them… How large were your loans from them?
Oakham went into administration last month – send the administrators a claim.
Fair finance is still going – how large was your loan?
Lynne says
Loans2go I’m faintly certain was £300 but they say I owe £1,048 which apparently is what the total repayable would’ve been.
Fair finance £600.
I’ll contact the administrators for Oakham.
Sara (Debt Camel) says
And that is why I call Loans 2 Go the worst loan in Britain – send them a complaint straight away, see https://debtcamel.co.uk/worst-loan-in-britain/.
They will negotiate, so don’t accept a poor offer without checking here.
jacqui says
Hi Sara do you have a template affordability complaint letter I can send to Lending stream please
thanks
Sara (Debt Camel) says
the one in the article above is for payday lenders like Lending Stream
Debbie says
Anyone heard from 24/7 moneybox
Mel says
Not a peep, they are an absolute shambles!
Faye says
I logged in to the creditors report from the letter they sent, and if I’m reading right, another million pounds spend liquidating 247 by Harrison’s, that pot will be penniless before much longer I would think, they also handled uncle buck, and reading that report it looks like no redress was paid as nothing was left and they were quite a big company…wish I was a penny behind Harrison’s 😂😂
Andy says
Update: money received from lending stream at 6.30 this evening.
Next in the list, TSB overdraft.
Thank you!
Claire says
Surly 247 money box can’t drag this on any longer…
No updates for far too long…
Is there a chance of there being any money left by the time they’re done?
Lynne says
My only dealings with them was when I tried to claim unaffordable loans and they told me because I’d accepted a write off of the remaining balance that that essentially was my ‘compensation’. The replies were very slow though.
Paul says
They have given creditors until March 31st this week to submit any claims – I had a letter about this about a month ago. It said that if I was a creditor bwcause I was a MB247 loan taker then I didn’t need to submit anything more.
I ‘think’ the letter said that claims would be paid out in April ( although I may have read that elsewhere – I’ve certainly got that from somewhere though ).
On the downside I am not expecting a very big %age payout at all.
Paul says
Further to this on the administrators’ website ( I assume liquidation from here is fairly quick hence the April? payout, although the March deadline will be missed if there is still the option of submitting a claim before March 31st ) :
“Move to Liquidation
As an alternative and to reduce the timescales and provide a greater degree of certainty to customers and creditors regarding the payment of a dividend, it is the Joint Administrators intention (as contemplated within the original proposals circulated to creditors) to move 247 to liquidation imminently for the purposes of paying a dividend to customers and creditors as soon as possible. In these circumstances the current Joint administrators will become the joint liquidators of 247 and continuity will be maintained. Whilst consent is not required from the FCA concerning this matter, we have advised it of our intentions.
It is anticipated that on the basis that 247 proceeds into liquidation within the next 7 days, we would hope to be in a position to pay a dividend to creditors in March”
Laura says
Update on Harrison’s website about 247 it is being paid in the next 14 days at 9.35 pence in the pound
Sara (Debt Camel) says
excellent – thanks for the update
Mel says
They make this statement on April fools day ! I’ll believe it when I see it ! 😂
Lynne says
Update from Oakham administrators should anyone need it.
Thank you for your email. I can advise that the business is continuing to trade whilst the company is in Administration and you can lodge a complaint to the company in the usual way.
I set out below a link to a webpage where we have provided some guidance for customers in relation to the Administration:
https://www.krestonreeves.com/oakam-ltd-loal-app-faq/
I hope this is helpful.