Did your payday loans cost so much when you repaid one you had to keep on borrowing?
You can get a refund of the interest you paid on unaffordable loans.
It’s easy to ask for a payday loan refund using the free template letters here. The letters work if your payday loans were repaid or if you still owe money.
This article covers everything you need to get started. It’s easy, free and many people are winning large payouts.
The comments below this article have thousands of stories of the refunds people have got using these letters. It is a great place to ask questions!
Contents
What are “unaffordable” loans?
Was a loan affordable just because you managed to repay it?
No! If paying a loan left you so broke you had to borrow again – from the same lender or a different one – it was unaffordable!
The regulator says:
“the borrower should be able to make the required repayments without undue difficulty, whilst continuing to meet other debt repayment obligations and reasonable regular outgoings.”
That means a payday loan is only affordable if you repaid it on time and you could still manage to pay your other bills and debts.
Payday loans are meant to be used to solve a short term problem. If you kept rolling a loan or repaying one then getting another loan soon after, the lender should have stopped lending to you.
If the loan was small and it was the first loan or second loan from a lender, the lender may not have realised the loan was unaffordable for you. But it was irresponsible lending to just carry on giving you more loans.
Many lenders ignored even very obvious signs of problems such as your loans increasing in size or borrowing very soon after repayment.
How much compensation can you get?
You don’t have to calculate this. Or work out which loans were unaffordable.
Just ask for a refund from the lender and see what you are offered. This is simple and it works well.
The Financial Ombudsman has seen tens of thousands of payday loan affordability complaints.
Payday loans are meant for short term problems and the lender should not have carried on giving you loans, A typical decision by the Ombudsman is that the payday lender should refund all the interest you paid interest after the third, fourth or fifth loan.
But if your first loan was large, or was rolled over several times you could get a refund from just one loan.
Which lenders can you get refunds from?
You can complain to lenders that are still in business, even if they are no longer lending. These include:
Lending Stream, Cash Converters, CashASAP, CashForUNow, Dot Dot, Fast Loan Uk, Fernovo, Kabayan, LoanPig, Mr Lender, Moneyboat, MyKredit, Smart Pig, QuidMarket, Savvy, WageMe, Wizzcash,
See this email list for payday lenders for a longer list and all the contact details to use.
Also use these letters for the very high-cost sorts of “flexible credit”. These have the highest uphold rate (80%!) of any product at the Ombudsman in the last quarter of 2021. The largest lender is SafetyNet Credit – other lenders include Drafty, Polar Credit and Tappily.
If the lender has gone into administration, including Myjar, Piggybank, Ferratum, Oakam:
- you can make a claim to the administrators – there is normally have a simple form for you to complete, see the lender’s website for details – 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.
QuickQuid, On Stride, Swift Sterling, Sunny, Wonga, Wageday Advance, the Money Shop, Payday UK, Payday Express, Uncle Buck and other lenders who gave up years ago – it is now too late to make a complaint about these lenders, see this list.
For longer-term loans there are better template letters to use on other pages:
- Provident is in a Scheme, Amigo is trying again to set up a Scheme
- other doorstep lenders and other guarantor lenders,
- 118 Money, Everyday Loans and other high-cost large long-term loans.
First, before you send in a complaint
Doing these things now will make your life easier later.
Get a copy of your TransUnion statutory credit report and keep it. After complaints are started, sometimes loans are deleted and you may want the full report if you later have to go to the Ombudsman. Don’t get an Experian or ClearScore report instead – many payday lenders don’t use those.
If you can log-in to the lender’s website and see your loans, take a copy of them. If you don’t know the details, don’t delay making a complaint by asking for them – use the template below to complain and ask for the details at the same time.
If you still owe money to the lender:
- unless you can afford to make this month’s payment without borrowing again, cancel the CPA to the lender at your bank. Otherwise the lender may take the money and you will be in a mess.
- read the Stop making payments? section in Payday loan refunds when last loan not repaid. If you want to offer a lower affordable amount, add a sentence to your complaint letter saying this.
- if you have a lot of borrowing at the moment, read Escape from the payday loan trap which looks at how a debt management plan can help you.
If your loan was sold to a debt collector you still complain to the original lender but also tell the debt collector that you are disputing the debt. Don’t skip this bit or a debt collector may go to court. It is a good idea to carry on making payments to the debt collector if they are affordable.
Start your complaint & get loan details
You can find the lender’s email address for complaints from this list.
Put “AFFORDABILITY COMPLAINT” as the subject of your email:
You should never have given me these unaffordable loans. 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.
[Only put this bit in if some of your loans were more than 6 years old. This explains why you haven’t complained before. It’s only an example so don’t copy it, change it so it covers what happened to you!] [I didn’t know that the lender was supposed to check that I could repay the loan without having to borrow more. I only found out in [date/month] when I saw a newspaper article in the Sun/an advert on Facebook for payday loan refunds/a friend said they had made a complaint/whatever.]
Some ways to improve this
You can add any other points that help you describe what happened to you. You don’t need to list the loans – the lenders knows that!
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 payments, add a bit about this.
Don’t worry that the lender will say you should have cut back on your living costs.
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. But 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.
If 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 begins 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, your payslips or bank statements.
Credit record – this is mostly to be difficult – 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 ideas 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!
Will a lender improve an offer?
You may be wondering if you should go back and try to get the lender to give you a better offer. Most lenders won’t do this, but a few may if you make out a good case – this includes Mr Lender and SafetyNet Credit.
For example if they have offered to refund loans 6-12 you would be happy if they included one or two more, you can say why you think loans 4 and 5 should also be refunded.
A good enough case to go to the Ombudsman?
If you don’t know what to do, ask in the comments below this article. Accepting an offer settles your whole complaint – you can’t change your mind later.
Don’t worry that you will lose a small offer by going to the Ombudsman – this doesn’t happen.
Some points to think about:
- if you are offered a refund on only a few loans, don’t accept if you think you paid a lot more than that in interest. Some lenders offer a few hundred pounds to people who get ten or twenty times as much from the Ombudsman.
- an offer to write off your current balance may sound good … but it may be very poor if you should get a refund as well, see Refunds when you have a balance owing for details.
- if getting defaults or late payments removed from your credit record is important to you, are you happy with what the lender is proposing to do? Don’t assume your credit record will be cleared if the lender didn’t mention this.
One or two loan cases are hard to win at the Ombudsman. It’s probably best to give up on one or two loan cases unless:
- the loan was rolled or topped up several times; or
- the loan was large. Here is one single loan case that was won even though it was an instalment 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 – it’s easy – and let them decide.
How to send a complaint to FOS
Put in a separate complaint about each lender.
Don’t wait until all your lenders have replied before sending the first one to the Ombudsman!
One reader said: They couldn’t be any nicer.
The Chief Ombudsman, says:
It’s really OK to phone up and say, ‘I don’t think it was fair.” It’s not court; you don’t have to turn up with your ‘heads of claim’, you don’t have to write a fancy letter. Tell us your story and we will do the rest.
FOS’s “complain online” option is easy and takes you through your complaint step by step.
You can just copy what you said in your complaint to the lender. Or 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 2013, 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 2021 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.
What happens after you have sent a case to FOS
You will normally be contacted within a couple of weeks and asked for a copy of your credit record and your bank statements if you haven’t sent these. If you have sent these on one complaint, then when you complain about a different lender they will use the ones they already have.
After this initial contact, your case will wait for the lender to send FOS your case file and then wait to be picked up by an adjudicator who will make a decision on it.
If you are still making payments to the lender, tell the lender you want to reduce these to an affordable amount. This will make waiting for an Ombudsman decision much less stressful for you.
The Financial Ombudsman has a two-stage process. Most cases are settled by the first “adjudicator” stage but about 10% go to the second “Ombudsman” stage.
A few problem cases
Don’t ask for a refund:
- if you are bankrupt now or have been bankrupt in the past – any refund would go to the Official Receiver.
- if you are in an IVA, as refunds will go to your IVA firm not to you. If your IVA has finished the refund may still be sent to your old IVA firm.
- if you are in a DRO now, getting a refund may mean your DRO is cancelled!
More help
You can ask a question in the comments below – you may get a reply from someone who has been in your exact situation.
If you need help to complain, go to your local Citizens Advice, they will help for free.
Don’t use a claims management company. They are expensive and often incompetent. It’s easy to do this yourself and you can ask questions below and get replies from other readers who have done this.
Ask for a refund for large bad credit loans
Will you get a refund from Mr Lender?
How to complain about a guarantor loan
Adele says
Hi,
Just after some advice please.
I have taken out several loans with Cash Converters in the past. I owe them £42 but after contacting them, the lady said that they have now stopped giving loans and so don’t need to worry about paying the remainder.
I was thinking whether I could try and get the money back from the loans I had in the past due to unaffordable lending.
In all honesty Cash Converters would just borrow to anyone, no credit check and also borrow to unemployed.
I don’t have any record of the loans that I had as it was all paper based agreements. Could I ask for a copy of these?
Sara (Debt Camel) says
yes you can.
Ernestkola says
Good afternoon Sara ..thanks so so much for this platform..l just received this email from quick quick pay day loans.. l make a claim about 2 or 3yrs ago ..just received this now..how much do you think l will get pay pls?
You are receiving this email because you submitted a claim on 22 September
Guide
Total interest and fees on loans £735 1
Total compensatory interest 390.07 2
Accepted claim value £1,125.07 3
Refund for overpayment on CashEuroNet UK, LLC loan £0.00
Sara (Debt Camel) says
See https://debtcamel.co.uk/quickquid-casheuronet-administration/ for the QuickQuid administration and any questions are best asked on that page.
Tina says
Hi Sara,
I raised a complaint with L2G about unaffordable lending yesterday.
They replied back and attached a response that they sent me in 2019 when I raised it before stating they aren’t upholding my complaint.
I cannot recall ever receiving this response.
If I raise a complaint with FOS what do you think there chances are of saying that this is going to be to long as I got the final response over six months ago (even though I never).
I think they are the biggest scam company going.
Cheers x
Sara (Debt Camel) says
did you complain before?
Tracey says
Hi Sarah
I have also complained to l2go about a loan I I’d with them.i had repayed much more than I borrowed and feel the loan was unaffordable. Bank state8support this. I originally contacted them as I was diagnosed with breast cancer in May and struggled to pay but did so up until this year as they didn’t respond.
They have said they till write of the balance as a good will gesture but I’m wondering if I should ask for compensation given how much I had repayed. Thanks
Sara (Debt Camel) says
Can you say how large the loan was and how much you have paid so far?
Tracey says
The loan was for 300 and I repayed 959. I made 14 out of 18 payments continuously.
Sara (Debt Camel) says
So you contacted them in May last year saying you had been diagnosed with breast cancer and asked for lower payments or something? And they never replied to you? That is disgusting, even for Loans2Go…
And their offer is very poor too. You have already paid £659 in interest…
If you want the full refund – £659 – then you will have to send the case to the Financial Ombudsman. In which case you should also ask for compensation for their failure to respond to a customer who had told them of a severe health problem.
But if you would be happy with less as a compromise to get this sorted quickly, You could go back and say that although you tning the Ombudsman would order a full refund, you would be happy to compromise now on your balance being cleared, a refund of £400 and the negative marks being removed from your credit record. Add that if it goes to the Ombudsman you will also be asking for additional compensation for their failure to respond to your request for help lat May when you told them you had cancer.
Loans2Go are sometimes be prepared to negotiate.
Tracey says
Yes, they said they did reply telling me to send over income and expenditure but I honestly don’t remember seeing the email so continued with payments. It was only when I realised through your website that I could challenge them and cancel the cpa that I contacted them again, it still took several emails before getting a response and I think this was more as a result of payment not being collected.
I will think about next steps, part of me feels I should be refunded but also I’m tired of the hassle and stress of trying to communicate. Thank you so much x
T says
Hi Sara
Just to update l2go replied today albeit they got my name wrong!!! and stated they will not refund or remove negative marks from my credit file.
I’m happy to proceed to the ombudsmen but just wanted to know the best way to do this and what info they will need. Many thanks.
Sara (Debt Camel) says
The article above these comments explains how to send a complaint to the Ombudsman. get your bank statements from 3 months before to 3 months after the loan and send those to the Ombudsman. And download a copy of your current credit record and send that too.
kiki says
Can you tell me what email address you contacted them on ! i am trying to email them an affordability complaint but I cannot find an email address. thank you kindly.
Tracey says
Professional Standards • ps@loans2go.co.uk
Ryan says
Hi Sara
I have had a response from MrLender, with whom I had over £1000 of loans with and paid a lot of interest over the past few years, they have not upheld my complaint but have instead said as a good will gesture they will remove all instances of loans I had with them from my credit file. This is obviously welcome and I’d like this to happen, but I would also like to raise this with FOS as I feel they should offer some kind of interest refund as I feel it was irresponsible lending
If I accept their offer to remove all loans from my credit file, as I’m theoretically accepting their complaint resolution, does that mean I can’t go to FOS?
How am I best to play this please?
Thanks
Sara (Debt Camel) says
how many loans did you have? were they more or less continuous or were ther some big gaps between paying one off and taking the next one out? have you missed any payments to them?
Ryan says
There was 5 loans in the space of around a year and a half for around £200 each, basically it was paying one off, then that same month or next month getting another but there was a couple of gaps
However, the complaint mainly revolves around the fact that multiple loans had payment plans etc set up and missed payments etc, then they would accept me for another loan shortly after eventually paying it off. I am arguing that I was continuously using payday loans and also that if they can see I am struggling to pay the ones I have had with them in the past they shouldn’t really be giving me more
Mainly, I just wonder if i accept the offer to remove them from my credit file, can I then not go to FOS as I’ve accepted a complaint resolution?
Thanks
Sara (Debt Camel) says
If you accept their offer, you can’t go to FOS. Basically they are trying to bribe you with something that costs them nothing. But it’s up to you if you think it’s worth it. If you do decide to accept, you want to download a copy of your credit record now with these loans still on it. Then keep this safe for several years. Just in case you many any other complaints.
Andy says
Hi
I notice Avant Credit have recently been bought out. If I dispute my loan to the CRAs do you know if Avant will respond or if it is likely to get supressed? I was disputing with Avant directly but getting very little communication back, so this would explain why.
Thanks
Sara (Debt Camel) says
Have they been bought out?
It may just be that your loan has been sold. In this case your complaint will continue to be decided by Avant. Tell the debt purchaser that you are disputing the loan.
When did you complain to Avant? Have you had a response?
Charlie says
If letters from templates had already been sent and the claims dismissed as not eligible. What happens if the date to escalate to the ombudsman is missed is there no way of redoing the letter later on to try again?
Sara (Debt Camel) says
You can only go later to FOS if either
a) you had a very good reason for not doing it before (you were seriously ill, in prison etc)
or
b) the lender did not tell you you had the right to go to the Ombudsamn and that had to be withing 6 months.
Emma says
Hi, has anyone heard of ‘SwiftPing” and know the contact details for them as I seem to be going round in circles. My initial loan was with Swift Money but they are saying they are only the broker and the lender was SwiftPing but can’t find any details to put in my complaint. Thanks
Sara (Debt Camel) says
How long ago was this loan?
There is no lender with that name on the FCA register at the moment… which is odd…
Can you see from your bank statement who the money came form? You don’t have the emails about the loan?
Emma Crideford says
Hi Sara, Swift sterling is coming up on the bank account
Sara (Debt Camel) says
ok, bad news.
Swift Sterling loans before December 2015 were from a Malta-based lender and it is now too late to make claims about these old loans.
Swift Sterling loans from 2016 onwards these loans were from a UK lender who has gone into administration and it is also too late to make a claim
Carly says
Hi,
I put in a complaint to Lending Stream last Monday and received an offer of £3.49 today, safe to say, I have sent straight to the Ombudsman. Does any know what the timelines are for Safetynet at the moment?
Beck says
Can I have some advice. I have had the following loans in the past 6 months
Fund Ourselves £300 Aug 21 (paid)
Lending Stream – £720 Sept 21 (one final payment)
Money Platform – £200 Aug 21/ £200 Dec 22 (both paid)
Fernovo – £300 Sept 21/ £150 Feb 22 (last one still paying)
Mr Lender – £500 Sept 21 (still paying)
Dot Dot – £200 Nov 21 (still paying)
I was gambling loads at that time and if they had done proper checks they would have seen that on the bank that they had on file. Is it worth chasing these companies for a irresponsible lending claim? Now in a better place financially/gambling wise. Is it worth a claim?
Sara (Debt Camel) says
It is very hard to win a complaint about one or 2 small loans. The Lending Stream is worth trying as it was larger, and if they had checked because it was larger, they would have seen a couple of payday loans in August.
Beck Mash says
Should they have seen the ‘gambling transactions’?? I had a reply from Fernovo saying I passed all their affordability checks saying my affordability score was 7 on a scale from 1-7 whereas my clear score affordability is 7 out of 100! So im not sure their transunion company they use is that reliable.
Sara (Debt Camel) says
The regulator says a lender only has to make “proportionate” checks. So for the first couple of loans if they are small they don’t usually have to ask to see bank statements and so won’t see gambling transactions.
If any lenders did ask to see your statements, or have open banking access to your bank account then YES they should have noticed the gambling and not given you a loan.
but if they didn’t do this, the ombudsman probably won’t say that they should have.
Robert says
I just wanted to add a note regarding Lending Stream. I don’t owe them anything but in 2019 and 2020 I was constantly taking out loans from them. I logged on to their website, clicked on ‘complaints’ and selected ‘affordability ‘ I basically used one of the templates that people have been using and added my own comments about why they should refund the interest and remove anything negative from my credit file. I submitted my complaint and they responded 4 days later saying that some loans were affordable and others which were also affordable should not have been approved as there were quite a few. In one month for example I had taken out either 4 or 5 small loans although one was for £510. They made me an offer of £781 which I accepted. They included a link which requested how I wanted to be paid. I selected the account they had on file and within 10 minutes of informing them the money was in my account. Lots of people use third parties to make their claim but so long as you are putting forward a strong enough argument and you ‘win’ it just means you are getting all that’s owed to you as opposed to two thirds or three quarters.
Steve Wright says
Good morning, slightly off topic. So whilst patiently waiting for the quickquid redress. I decided to use the affordability complaint template to send to a few previous lenders. Had a few results thus far of small loans being written off and my credit file corrected so thank you for that. However one of the lenders “Mr Lender” are being difficult. I sent an email to them which they replied by post asking me to clarify which loans and why I was complaining about, however they only included 3 loans when in-fact I have had lots of loans with them since 2013. I also have emails stating reloans and rollovers 🤔
I have since sent them another email and replied to there letter first class recorded within there deadline. Are “Mr Lender” known to be difficult?
Also whilst I think of it MyJar Redress. I have used MyJar since they where “txt loan”. There process seems a little cut ‘n’ shut. No room to appeal or complaint on that one apparently. They will decided if eligible for redress and that’s that. They suggest small claims court if your unhappy with their discussion as the only option is that true?
Sara (Debt Camel) says
mr Lender may have ignored loans more than 6 years old – if they don’t include these, just send the complaint to the Ombudsman.
Myjar are in administration. You can’t take an appeal to the Ombudsman. Did they seriously tell you to take your case to court????
Steve Wright says
Thanks for the reply Sara. I may have to go down the ombudsman path with them, but we shall see as they sending me a new statement of loans.
In regards to MyJar, all they have said to me is I have been registered for my interest in redress.
The statement about court came from the Harrison’s website in regards to MyJar.
“Can I speak with you about the decision?
This decision is final and therefore we are not accepting communication regarding the decision. If you are unhappy with the decision made, as indicated above you have the right to further pursue your claim through the small claims court.“
Emma says
Hi Steve, Mr Lender were incredibly difficult and I ended up taking them to the ombudsman. Conveniently they had sent me an email at the time of my applications showing that they knew my outgoings exceeded my income by hundreds even before their loan. In other words, they knew I couldn’t repay without further borrowing but they lent anyway! If you have emails from the time of your loans check back over the emails from the underwriters – it might provide some useful evidence that they knew they shouldn’t have lent. My calculation was at the bottom of an email asking me to confirm the figures were correct. Good luck!
Nick says
Hi Sara, if I want to make a claim against safety net credit but also now Tappily (as they upgraded me)who should I send the claim to safety net, Tappily or both?
Also regards lending stream I had a few loans but can only see one on my file, I’ve got the numbers of some of the others and then can’t find the others, should I list all addresses I’ve been at during that period or should they not need this?
Thanks in advance
Sara (Debt Camel) says
One complaint about both, I should send it to Tappily but I don’t think it much matters.
yes give LS all the details you can.
Kat says
To be honest I forgot all about this so can’t remember if I had an email originally etc, but I do remember putting the claim in. So I’m hoping I did get an email , will see what happens. I’m taking it any redress is to be paid and want paid out when they first went into administration.
Mark S says
I would just like to thank everyone who brought the Likely Loans acceptance of claims to my attention, I had 1 loan with them, i had put in affordability complaint just under 2 weeks ago and just received a very decent settlement/redress offer, funds should be in my account within 10 days. Thank you all and to Sara for bringing these companies to my attention!
Lynne says
Just heard from fair finance. Is this a good result? The amount borrowed £230 and they’re refunding £310. I only made x2 payments of £61.
Lynne says
Should say as well they are wiping it from my credit file. Result!
Sara (Debt Camel) says
They are refunding you £310 in cash? Or reducing your balance by £310 to what?
Lynne says
They’re refunding me £310. Apparently that is also the amount outstanding. I don’t profess to understand any of this but I’ll take it.
They’ve asked for my bank details to process the payment and admitted that ‘the credit checks did not pass our usual standards’.
My next question is how long does it take to vanish from credit report?
Sara (Debt Camel) says
This sounds very odd. You need to check if they are clearing the balance. Or has it been sold to a debt collector?
Changng credit reports – Somewhere between a week and 2 months. Most lenders only report changes to the credit reference agaencies once a month, so it depends how long it will be before that happens.
Lynne says
It was sold to a debt collection who I complained to. They then passed the complaint back to FF who have responded as such by agreeing the loan was unaffordable and informing me if the refund.
Sara (Debt Camel) says
ok, then you need to ask if FF are clearing the debt to the debt collector and getting the debt collector to delete the default too… otherwise you will need need to use the refund to clear the debt to the debt collector.
Dale says
Hi has anybody recently had an adjudicator decision go to ombudsman? If so how long was the wait? I’ve been waiting 8 weeks and 4 days as of today and still nothing.
Sara (Debt Camel) says
it depends on the lender I am afraid.
Dale says
Hi Sara, why would that be? The FOS say they allocate in “age order”. I know they are swamped but my case is a month shy of being with them for 12 months and it’s not a relatively complex one as the adjudicator reached a decision within a week of having all info.
Sara (Debt Camel) says
My comment is just a reflection of what I see.
I could make some guesses – I think there are different teams handling different lenders, also sometimes an issue with one lender can lead to complaints being held up or when it is resolved handled more quickly.
Tim says
Hi Sara. Had my C.L.C. Finance complaint upheld my a adjudicator. They have accepted their findings. Does anyone know how long they take to pay out and more importantly remove negative marks off my credit file. I know they are a small lender however their interest rates are huge . Even conpared to the likes of Provident. Morses. Loans @ home. I advise anyone who has struggled with their loans to put a complaint in .
Lynne says
Next predicament is with L2G. They say they reduced my ‘balance’ from £1,048.39 – that being the figure I would’ve paid at the end of 18 months – by 50% to £643.46.. The actual amount borrowed was £300.
They say they’re not going to look into my complaint despite several messages but as well as this I want to escalate the fact that they keep texting me despite me explaining I had anxiety and that this was causing me more distress. What to do next?
Sara (Debt Camel) says
can you say what the rest of your financial situation is like?
Are you happy with the balance reduction? Can you afford to make any payments to this at all?
Dan says
They don’t have to accept an adjudicators decision so unless they have it might not mean a payout – you may have to escalate to an ombudsman and then the whole case is reviewed again, they may or may not agree with the original decision, if they do then yes you should be paid but that could be months away, credit file updates can easily be 2 months
Sara (Debt Camel) says
are you replaying to Tim? he said that the lender has already accepted the decision.
Lukasz says
Hello Sarah :) fantastic work as always. I have question regarding LS. Back in 2018 i think i sent them claim template and they refusef despite i had numerous loans for small and larger sums…i did one again recently after seeing people have received refunds with LS, if they refused second time is it still worth sending my complain to FOB
Sara (Debt Camel) says
This isnt worth going to FOS UNLESS Lending Stream failed to tell you the first time round that you could go to FOS within 6 months.
You can’t make the same complaint twice.
Gemma says
I emailed my jar this morning to see what is happening as I processed a complaint regarding affordability last year. They responded advising they will be contacting customers in the next few weeks. An hour or so later I had an email saying my complaint is not upheld and it cannot be changed or referred to the financial ombudsman.
I completely don’t understand the decision, I sent evidence of how poorly my credit score was at the time and the amount of missed payments on my file, alongside how little I had in regards to affordability to pay back the loan. Do you know if there is anything further I can do? Many thanks
Sara (Debt Camel) says
How large was the loan? was this the first from Myjar?
Gemma says
I had three in total, two for £200 and a top up loan of £550
Sara (Debt Camel) says
Those are pretty small loans. It is possible the Ombudsman may have upheld the last £550 loan but that is pretty marginal. Sorry but the administrators may well have made a decision that is in line with what the Ombudsman would.
Gemma says
Ok thanks so much Sara
Lou says
I emailed MY JAR they stated they would be contacting from mid April. Still awaiting any further correspondence. Has anyone received an email?
Kelly says
Hi Lou,
I am waiting too.
Haven’t heard anything yet.
Ben Morgan says
Hi i put a complaint in to lending stream they point blank refused to give me a offer and said we investugated it and you cleary said you can afford the loans with the infomation ive provided and said as a result we will no longer borrow you money since i found this site ive asked and they said weve already lookwd into this complaint and closed it we will not reopen or look into any further what can i do as i had 1500 in loans and repeat borrowing thanks
Sara (Debt Camel) says
how long ago was your complaiunt? Did LS tell you you had the right to take your complaint to the Ombudsman within 6 months?
Ernestkola says
Good evening sara .. just want to findout if payday mate loans still in business pls? I just remember now l have about 4 to 5 loans with them ..
Sara (Debt Camel) says
they are a broker, not a lender. you need to know who lent you the money
Mara says
Hi Sara,
As you predicted, Oakam has sent a response to me today (4 weeks after raising a complaint). Saying that they are partially upholding my complaint (not refunding the whole interest) . Claim amount is £2714. Obviously, as they are in administration, nothing will be paid until whatever:) They have sent me the administration form, to send the claim. My question is ,as nothing is going to FOS, is there any point in arguing and send the email to administration for their review? To see if they include more interest? Or the fact that at least some of loans shouldn’t have been given? Because from my bank statements and loans given some shouldn’t have been even issued, but I am not expert, of course. Not sure how it works with administration. Thank you in advance
Sara (Debt Camel) says
well you may as well try. It’s only an email.
Michael says
Hello, I would like a bit of advice really, I made a claim regarding a quickquid loan that was accepted but after my details (I had a brand new phone number) were given to TM legal services who bombarded me with phone calls and this week have said they’ve issued a CCJ against me, I had no knowledge of the debt and they’ve said it’s from piggybank so I’m guessing the loan was sold to them but like I say I have no recollection of this and now I’ve got to pay off a CCJ. What would you consider the best plan would be regarding dealing with this?
Thanks in advance.
Sara (Debt Camel) says
read https://debtcamel.co.uk/help-ccj/ and think if you have grounds to challenge this CCJ. Any more questions are best asked on that page.
Lynne says
Hi Sara the debt collectors ARC have said my Fair finance account is no longer with them and has gone back to FF so does that mean that’s an end to the matter as they’ve paid out my £310 now?
Sara (Debt Camel) says
Yes unless your credit record also needs to be corrected?
Lynne says
FF say ‘We will be correcting your information as reported to the credit reference agency’. Not sure what that means really.
Sara (Debt Camel) says
If there are any missed payments or defaults they should be removed and the debt marked as settled.
Lynne says
Great. I’ll keep an eye on that then. If only other lenders were as easy to deal with. Loans 2 go are refusing to budge and persisting with text messages.
Sara (Debt Camel) says
Send the L2G straight to the Ombudsman then
Sam says
I had 9 loans with Fernovo – have just received the below within the final response email:
This complaint has not been upheld.
However, because you always repaid in time all your loans before the last one, and you have decided to file for an affordability complaint, we are ready to reduce the interest on the last loan, if you withdraw your complaint, as a gesture of goodwill we are happy to reduce the open balance to £20. Repaying this amount will close your balance.
To provide you with an incentive to close the account as soon as possible, we are willing to completely delete all your accounts from your credit file, once the last one is repaid.
In summary, there is no indication from a fair reasonable, and unbiased perspective that you were unable to afford the sums that Quidie had lent to you when you needed Quidie to help you bridge your momentary cash flow issue till payday. We strongly feel we have done nothing wrong, on the contrary.
Thoughts?
Sara (Debt Camel) says
– can you list the size of the loans in the order you took them, so 300,300,200,150,500 etc
– were there any big gaps of more than a month between paying off one loan and taking the next?
– the current loan – how large is it? how much have you paid so far? what is the current balance?
Sam says
I mostly paid off the loans and then applied for another within the same month.
Dates funded and amounts below – it’s not huge amounts but it does add up:
12/06/2019 £100
16/12/2019 £100
08/01/2020 £100
28/01/2020 £300
08/04/2020 £100
19/06/2020 £100
02/11/2020 £200
06/01/2021 £200
29/01/2021 £200
There is only £75 remaining on the current loan.
Sara (Debt Camel) says
so the last loan, how much have you paid so far? Loans 7 & 8, how much did you pay to them?
Cocodog411 says
HI. I made a complaint to Mr Lender last week which they acknowledged by email and I have today received in the post a statement of my loans (just that, no other comments in the letter) and I just wondered do I need to do anything else at the moment or just wait for a while for a response from them?
Thanks
Sara (Debt Camel) says
Just wait for a response to your complaint.
BUT make a note of the date you should have had it. If you haven’t had a reply by then email them and ask them why not. Don’t forget about this…
Cocodog411 says
OK will do. Thank you Sara
Nick says
Hi Sara – I had a number of loans with Piggy Bank (DJS Ltd), Uncle Buck, My Jar and 118 money. Most but not all we’re over 6 years ago, is it worth trying with these older ones?
Sara (Debt Camel) says
Uncle Buck went into adnministration and it is too late to make any claim
Piggybank and myjar are in administration but you can still make a claim – do not delay.
118 money is still lending and they are losing a lot of complaints at the Ombudsman. See https://debtcamel.co.uk/refunds-large-high-cost-loans/ for a template to use against them. Ignore the 6 year limit and send the case to the ombudsman if 118 money rejects it.
d says
Hello Sara, i believe i had already added some initial comments to your site but unfortunately I’m unable to trace it, so apologies for any duplication here…
I took out a 2k loan from Loans2Go over 24 months in feb 2022, having within the last 12 months prior already taken out 4 new credit cards which are about 80% of limits as things stand, and also x2 £500 loans from CreditResource. The repayments are more than 300% interest, total repayment will be 6.5k!
I’ve made a complaint to them and to be fair to them, responded within 1 week.
They have fully rejected my complaint, but offered to reduce interest by 50% over the term and reduce my monthly repayments. At first glance that seems like a win, but i just want to make sure i’m not being taken for a mug before i return to them with my response.
david says
In their response they have commented the following:
Credit Reports are not always up to date, but the issues i mentioned in my complaint such as 8 defaults and arrangements to pay and debt management plans were all evident on my credit report already at the time of application, and all within the last 6 years.
Theyve confirmed they used UK Consumer Averages when determining affordability from rather then my actual income and expenditure, provided in part as part of their online application. This is despite in my complaint me accusing them of this, yet they said they fully rejected all elements of my complaint?!
They calculated my disposable income to be approx £900, yes £900 a month more than it actually was, having used their “online verification tool”.
Theyve confirmed they did not complete a full credit check or require bank statement as i’d already passed their “stringent checks” prior to that stage.
One mistake i did make which they mentioned was not to mark “YES” on their question about drug, alcohol or gambling” question. i misread this and did not see the gambling element, so ticked “NO”, but to be fair, i am registered with Gamstop so cannot use online sites anyway.
Like i say, theyve provided a good will gesture, but i’m on the fence about whether to accept it or not, so any advice woudl be truly appreciated. Many thanks!
Sara (Debt Camel) says
For a small loan, there is an argument that a lender does not have to look too closely. But £2000 is a very large loan.
what is your current financial situation like?
What other problem debts do you have at the moment, how much do the other ones add up to and are you making payments to all of them?
Are you behind on any essential bills – rent, council tax, energy etc?
Are you still gambling?
David says
Hi Sara. I’ve been registered with Gamstop since 2018 so gambling is not currently an issue.
I’ve been behind with rent and council tax and utilities in the last 12 months yes, but currently up to date. Just! And that was what this 2k loan was partially used for, to bring those back up to date. I have proof from council tax and utility bills that I’ve been in arrears and also my bank statements would show the bounced direct debits etc.
My other debts total approx 12k and I’m in repayment plans for them all, 8 of those are defaulted from between 2018 and 2021, all evidenced on my credit report so they would have seen them had they checked I’d imagine.
Sara (Debt Camel) says
So how much are you paying to these other payment arrangements?
How much do you think you can pay to L2G?
And do these figures allow for the increase in your energy bills by 50% from This month?
The reason for these questions there is no point in you accepting an offer which still leaves you in a complete mess…
better to tell L2G that you want all the interest removed or the case goes to the Ombudsman. And probably put the L2G debt along with all the others into a debt management plan with StepChange so they can deal with your creditors not you. You can still make affordability complaints when you are in a DMP. Winning them will speed up the DMP a lot.
Lynne says
They did exactly the sane to me. I made an Unaffordability claim which they rejected but said as a ‘goodwill gesture’ they’d reduce the balance by 50%. It’s a joke the way they operate. I get text messages every day several times, despite me asking them to stop and blocking the numbers.
David says
I think based on these comments I will reject their offer and try mu luck. Arranging a more affordable repayment would help of course, but ultimately yes it would still be a struggle to stay on top of things. Many thanks!
Mel says
Hello, is there any update on Piggybank redress ?
Kelly says
I am waiting too. Sent a couple of emails but no update.
BT says
They are not communicating very well. The only way of keeping informed about their work is by visiting DJS Limited page on Companies House and reading up progress reports.
Lynne says
Just referred Loans 2 ago complaint to the ombudsman. Anyone had any success with these dreadful people?
Sara (Debt Camel) says
lots of cases won at the Ombudsman!
Lynne says
Ooo good thanks!
Helen says
Hi, I put in a complaint to loans to go last Saturday (the 9th) after reading all the comments on here about them. I’ve not even received an automated response to acknowledge my complaint, is that normal? I’ve put in complaints to 3 other lenders and received automated acknowledgments straight away.
Lynne says
There’s usually an automated message comes through Helen. And in fact I’d say thereafter they’re pretty quick in replying in general. These are the ones I used. customerservices@loans2go.co.uk and professional standards ps@loans2go.co.uk
Helen says
Thank you, I used ps@loans2go.co.uk I’ll try sending to the other one aswell just to be on the safe side.
Keith says
Hi. I made an affordability complaint to moneyboat and they have responded asking for bank statements but have also said the following which I have never had before. Not sure if scare tactics ‘ Should it transpire that information provided by you at the time of application was false or misleading, we may register this attempt to gain redress falsely as a first party fraud with CIFAS the fraud prevention agency. To learn more about fraud and understand your rights please visit cifas.org.uk. Any fraud marker may affect your ability to obtain credit with banks and other lenders in the future’
Has anyone else had this
Sara (Debt Camel) says
this is Moneyboat’s normal scare tactics. They say it to EVERYONE who makes a complaint. No one so far has had any problem when they have ignored this and sent their complaint to the Ombudsman.
Hayley says
I had this email too which really worried me in case I missed something when applying, and end up in court never fraud!
Sara (Debt Camel) says
That’s what they want you to feel – scared. No one has had a problem when they pursued it.
Emma says
We had that response too. We took them to the ombudsman and pointed out the scare tactic. The Ombudsman’s position on this is covered in the published ruling for my case: https://www.financial-ombudsman.org.uk/decision/DRN-2797863.pdf
Lynne says
That’s interesting thanks Emma. I was like everyone else they said they would have me done for fraud if I gave misinformation about my incomings and outgoings. Thing is I ended up with a CCJ because of them and I still have £140 to pay. Can I still complain if it’s at CCJ level?
Sara (Debt Camel) says
yes you can
Kyle says
Moneybox is becoming a meme! Despite the Harrison’s staff confirming last year they received my appeal they’ve just admitted they somehow forgot to review it so I wont be getting anything. I’ve been passed around between the customer.services@247moneybox.com and 247dividend@harrisons.uk.com emails with nobody seeming to know how to fix the situation. Happy for those who got a payout.
Sara (Debt Camel) says
email paulboyle@harrisons.uk.com (Paul Boyle is one of the Insolvency Practitioners running the administration) with COMPLAINT as the subject and explain what is happening.
Joe says
How did you complaint to Lending Stream? Can’t see a redress scheme on their website to input information?
Sara (Debt Camel) says
There is no formal redress scheme, you just send them a complaint. They like you to use their form here https://www.lendingstream.co.uk/contactus-step2/?sel_val=customer or you can try emailing lisa.middleton@gaincredit.com
Kevin says
Hi Sara,
I was declined a refund off of Lending Stream in 2018. Would I be able to apply again or would I get the same response?
Sara (Debt Camel) says
did they tell you in 2018 that you had the right to go to the Finacial Ombudsman within 6 months?
Kevin says
Hi Sara,
To my knowledge, they didn’t.
Kevin says
Hi Sara,
To be knowledge, no.
Sara (Debt Camel) says
well if they didn’t, you can still take your original complaint to the ombudsman. But if they did, then it is too late. You can’t just make the same complaint twice.
Gemma says
I emailed MyJar last week with ‘claim’ as the subject, following the advice given.
I’ve not heard anything back. Has anyone done similar and heard?
Thanks.
Sara (Debt Camel) says
what email did you use?
Carlo says
Same..i emailed them last week thursday and havent heard from them either..i used the email address u posted recently Sara to use for myjar
V says
I emailed Harrison’s regarding my jar as I have a claim with them to and it says email inbox is not responding to emails. There webpage says if you are due a redress you will be emailed by end April if you don’t here anything you aren’t getting a payment. Payments will be made in may.
Jamie Peters says
Hi, just wondered if anyone had received their dividend payment from 247Moneybox yet. I’m still waiting as it was meant to be paid in the last two weeks. All I am getting back from then are automated emails stating that I can see how much I am due back through the portal. Unfortunately I cannot see this information, I did update my bank details when asked.
Sara (Debt Camel) says
yes a lot of people were paid last week.
Jamie Peters says
Thank you. Harrison’s aren’t exactly being helpful, not replying to any of my messages, just getting automated responses. Don’t know what else to try.
Sara (Debt Camel) says
In https://www.247moneybox.com/Update-31-March-2022.pdf they say: “If you have not received your dividend by Friday 15 April, please contact us via email at 247dividend@harrisons.uk.com and we will respond to your enquiry as soon as possible”
have you emailed that address?
Jamie Peters says
Hi Sara, yes that’s the email address I have been trying and all I got was 3 of the same emails saying you can check the amount in the portal, but there is no info whatsoever about the amount I’m due. Harrison’s seem as about as good at communicating as the administrators that dealt with Wonga.
Lenny says
Hi Folks,
Just looking for a quick bit of advice, of course. I had an old account with Piggy Bank or DJS LTD which I raised a complaint about. The debt has since been sold to Asset Collections and Investigations and I have been dealing with TM Legal Services for some time in relation to it. This was registered as a CCJ in 2019 and is also showing on my credit record as being defaulted in 2017.
I have been offered a significant refund which will leave me with less to pay than I have already paid to TM Legal Services, and it also says they will remove the adverse credit history. Where do I stand with the CCJ – will I merely have this marked as satisfied or should I aim to have it entirely removed? Is that even possible?
Thanks, L
Sara (Debt Camel) says
I have been offered a significant refund
offered by who?
Lenny says
Sorry – by Piggy Bank. They will offset it against the outstanding balance is what they have said.
Sara (Debt Camel) says
ok then ask them to arrange to have the CCJ “set aside”. that is the legal term for removed.
Lenny says
Thanks! Hoping they won’t make this but difficult!
Christina Wynne says
Hi. Has anyone had an email from myjar yet?
Adele says
No, I’m waiting!
Christina Wynne says
I’m wondering if their leaving it until the 30th then sending out to whoever is due redress as I haven’t heard of anyone getting an email yet
Emma says
No and my case was messy. I made an affordability complaint which they upheld but then they dragged their feet for weeks, promising that it would be paid but there was an internal delay. That delay was obviously that they were going into administration but they didn’t want to admit it before it was formally announced. I don’t even know if the administrators will respect the complaint decision or not even though full and final settlement contracts were signed weeks before they actually went into administration. I think we’re meant to hear in the next few weeks.
Christina Wynne says
It says on Harrisons website if you do not receive an email by 30th of April you will not be receiving any redress.
Daniel says
Has anyone had any success with safety net? If so what sort of time frame was it from start to end. I know mine will be longer because of easter just curious. Thanks in advance.
Paul says
Yes. I got £10K from them.
I was basically re-borrowing every month for 5-6 years and paying £200 each month for the “privilege” of doing so.
I can’t remember how long the claim took, but it was weeks rather than months/years.
M says
I had dealings with them. I found them quite easy to deal with! They made things very clear and took about 7 weeks to make their decision.
Kelly says
Is My Jar only paying a certain percentage like Provident?
Sara (Debt Camel) says
yes and it is likely to be low.
K says
Hi Sara
I recently contacted myjar with an affordability complaint letter. I had heard nothing for a few weeks since the letter and just today they have sold my account to a debt collection agency to pay the outstanding, yet I was writing to them to request a refund for the high interest they had been charging. Are they allowed to do this ? Do I write back to them ? What do you suggest I do ? I still owe £400 but I had not had any contact with myjar since 2018 as I had originally taken out a loan for £1600, I have paid over £2000 in interest charges and payments I have made come to the amount I’ve borrowed, but I stopped paying because I just couldn’t afford it anymore. Any advise would be appreciated thank you.
Sara (Debt Camel) says
I suggest you ask them what has happened to your claim.
Toni says
So happy!! Finally after about 18 months my payday company has agreed with the ombudsman and is refunding all charges interest etc for 15 loans!! Just got to wait another 28 days for them to send the money but I am so happy. They wouldn’t even discuss it with me,i think went through a company who try and get ur back for you which they again couldn’t get anywhere but finally ombsman stepped in and they have agreed
Lynne says
Who was it?
Toni says
Its not a very well known one as local to where I live but its called compton finance
David says
Hi
I have made an affordability complaint against Quidmarket. Does anyone know? Are they difficult to deal with? Do they reply within 8 weeks? Do they ever settle without going to Ombudsman? Thanks
K says
Hi Sara
I recieved an email today from safetynet after using one of your templates ( thank you so much ) saying they will pay me back my interest on loans I took out since 2013. But for some reason they will not take responsibility for the loans since 2017 which were on a different account. The loans since 2017 are clearly as unaffordable as the original loans and so I am not sure if I should contact the FO or except there offer to me. If I contact the FO will I loose the original offer from safetynet ? My loans total £20,000 and they have offered me £4500 which is great but tbh I’m probably due the same again from the loans from 2017 onwards on the other account. They are saying on the other account it’s affordable and I owe them £503. Hope I’m making sense. Please advise.
Thank you.
Sara (Debt Camel) says
why was this a different account – was it a different account with them?
Or on a different bank account? Was this other banks account much healthier?
K says
Thank you for getting back to me. I can’t remember if I used a second bank account, but I basically had 2 accounts opened with safetynet. I have tried to copy paste the breakdown of each on here for you to see but the loan is too long to copy paste ! They have made a few errors as on both letters they have called me Mr instead of Ms and on one letter they have stated loan started in 2017 but it actually started in 2013. The response of how I handle this is so important to me, as this money would be life changing as 3 years ago I was living in a travel lodge as had no money to re rent a property. So I want to make sure I get your expert advise. Forgive me if I post too much info 🙏🏻 Will try inserting on a reply message.
Sara (Debt Camel) says
Well i suggest you try first to get them to change their mind… reply saying you don’t know why they allowed you to open a sceond account but your finances ahd not improved to that account wasn’t affordable either. Ask them to review their decision or it will be sent to the Finacial Ombudsman.
K says
Ok I will try that Sara thank you 🙏🏻
k says
this is the one they offered a redress ;
Total amount borrowed: £18,961.88
Interest added: £3,295.44
Total repaid: (£22,255.82)
Amount written off: £0.00
Outstanding balance: £0.00
Interest (to be written off): £0.00
Outstanding balance minus interest: £0.00
Total amount repaid (since 01/03/2013): £21,931.82
Amount applied to funds borrowed: £18,661.88
Interest repaid (since 01/03/2013): £3,269.94
Statutory 8% interest: £1,757.96
HMRC 20% deduction: (£351.59)
Redress due: £4,676.31
New outstanding balance after redress applied: £0.00
Amount written off from your balance: £0.00
Redress to be sent to you: £4,676.31
k says
This is the account they refused redress
………….. [sorry I have deleted all that as pasting the numbers in strips out the formatting so it’s not possible to really make sense of them]
Sara (Debt Camel) says
that was a lot of borrowing. You know your situation wasn’t any better, so you can either send this straight to the Ombudsman now or push back and tell Safetynet credit to look again or it goes to the ombudsman. They do sometimes change their mind.
K says
Good afternoon Sara
I received a response from Safetynet Credit, they said
Thank you for contacting SafetyNet.
Please note that your complaint was thoroughly investigated and we are unable to review it.
If you do not agree with the outcome, you are able to contact the Financial Ombudsman.
Sara Should I Contact the FO or should I except there offer.
As I previously stated I had borrowed £22k from them over many years through there overdraft system and paid back £21.5, theres defiantly more than £4.5k interest charged.
Is it a good deal, yes it will help me immensely but am I entitled to more ? How long would the process take with the FO
and if I loose, will I then loose the original offer Safetynet have offered me.
always grateful x
Sara (Debt Camel) says
If nothing really changed then it sounds as though you should have had all the chnaged from the second account refunded too. Which could be a lot?
The process will probably be somewhere between 3-12months but that is a guess as I don’t remember a case before with 2 accounts and Safetynet accepting the earlier one.
The Ombudsman almost always starts by saying which loans are agreed – in this case the older ones – then just looks at the other ones. The chance of you loosing the offer on the older ones seems very small.
Hayley says
Hi, I just came here to say thank you so much for your website! I have had many payday loans over the years out of desperation, and after having a good look at this website I’ve used your template to send to all of my previous and current lenders. I sent your template to lending stream at the beginning of the week, and have woken up to an email saying that my complaint has been upheld. My whole £500 debt has been wiped out, my credit file is being updated and I’m getting a refund of £60 which is a huge result for me. Thanks again :)
Leigh says
Hi
Just want to say thanks for advice on your website.
I had many loans from lending stream (14 over period of 3 years), so on a wing and a prayer submitted an complaint last Tuesday (12th April) and today received offer of £1680, I accepted as tallied up with what I expected and money was in my account immediately. Thank you so much would have never tried if had not been for this website.
Darren says
Hi Leigh
Did you complete the link they sent to you to accept and the money was in the same day ??
That’s exactly what I’ve done today
As of yet no funds though 😝
Leigh says
Hi Darren
Yes I did it via link on offer letter. accepted at 7am and was in bank within 10 minutes was so shocked! Maybe speed of payment depends who you bank with (I’m tsb) Good luck hope it comes through to your bank today.
Darren says
Thanks Leigh
I had to provide another bank account to pay it into as the other they had was a closed account
I’ll be buzzing if it hits today .but apparently 3 working days is the norm currently
Well done on your windfall
I’ll keep you posted my end x
K says
Hello again Sara
I sent a template to MyJar who I had not heard from in years regarding my outstanding debt which they still have not stated how much it is for. Anyway I just recieved a long email saying that
Notice of Assignment
With effect from 13th April 2022, MYJAR has assigned all its respective rights, title and interest in respect of your MYJAR loan(s) to Perch Capital (company registration number 11207867). Perch Capital has appointed ACI-UK Limited (“ACI”) to manage collection of the outstanding loan balance on their behalf.
I’ve written back explaining I cannot afford to pay any company as my financial situation is so bad due to there high interest charges and I would appreciate a proper response in regard to my original affordability complaint. I also told them if I do not get a response from them I will go to the FO. Any other advise how I should proceed with them. Thank you 🙏🏻
Sara (Debt Camel) says
can you tell me about the rest of your current financial situation? Are you behind ion any important bills? How large are the other debts you are repaying? Are there any other debts you are not paying apart from this one?
k says
I have catalogue debts £3000, I have a moneybarn high interest car loan £12500, I have about 5 payday loans which i have written to all of them using your templates, but I was paying very small monthly amounts on those totally £100 per month. The total debts for payday loans is around 5k. I am up to date on my rent and council tax, but I am a front line worker on a low income and only have enough to cover minimum payments on these debts and can just about afford to live. As I write to you my Jar have just informed me …
Good Afternoon
Thankyou for contacting us.
We can confirm that your complaint will still be upheld with MyJar.
The complaint is with our complaints team, however a response can take up to 8 weeks.
Please contact ACI on the below information to discuss your outstanding loan and they will be able to place your account hold and discuss any payments or difficulties.
Tel: 01273 634941
Email: info@aciuk.co.uk
So I guess when they write to me I will inform them to put the account on hold until i hear back from Myjar with an offer ?
Sara (Debt Camel) says
Yes, you can add that you have a low income and car finance so would only be able to pay a token £1 a month to any non priority debts such as old payday loans.
The car finance – how much did you borrow? the loan amount, not including any interest? And how much have you paid to this so far?
K says
Car price £8451
I put down £1500
Credit borrowed was £6951
Interest charges £6685.08
Total charge for credit £6685.08
Total repayable £15,136.00 over 60 months
I’ve paid £235 per month for the last 12 months.
Sara (Debt Camel) says
Thanks for all the figures – it makes it easier to see what is happening!
you may be able to win an affordability complaint about the car finance – Moneybarn are losing a lot of these cases. But until you have paid off what you borrowed which is after 30 months, so 18 month from now, if win the complaint you would have to hand back the car but get a refund…
So if you need to keep the car you have to delay making an affordability complaint until you are nearly at that point… say 16 months from now. Make a note to come back and do this in Spetember next year!
K says
Thank you so much for that Sara I’m so very grateful 🙏🏻
Beth Hughes says
This is interesting to read! I too have a high interest loan for a car with moneybarn.
It was a 5 year plan, car was 8k, paying back 15k and I have 1 year left.
Am I in a position to do an affordability complaint here? Thank you
Sara (Debt Camel) says
Yes if you think the car fiance was unaffordable – you couldn’t repay it and your other debts, bills and expenses without getting deeper into debt.
You have obviously paid more than the amount borrowed, so if your complaint was upheld, the balance would be wiped and you would have a refund of the amount over 8k that you have so far paid.
See https://debtcamel.co.uk/refunds-large-high-cost-loans/ for a template to use. Expect Moneybard to reject this and then send it to the Ombudsman.
Darren says
4 weeks ago I complained to Lending Stream for 10 consecutive loans taken out in 2010 onwards
They have upheld my complaint
£2800
Redress in approx 28 days but I see people have received it within 3 days
Some even on the same day
Buzzing
Becks Mash says
Hey all just had this from Lending Stream. Does this sound like they upholding my claim/complaint or not. The ‘upheld both your loans’ comment confused me
Thank you for sharing the additional information with us.
Please be advised that we have reassessed your complaint and we have decided to upheld both your loans.
Hence, we will share the revised final response in next 7 days.
Sara (Debt Camel) says
yes this sounds as though it may be good news – fingers crossed for you.
Beck Mash says
Keeping those fingers crossed
Lynne says
Moneyboat took me to court for my last loan so I’ve got about £160 left of a CCJ to pay. I’ve asked them for a breakdown of what loans I’ve had. The response is:
Your first loan was obtained on the 03/02/2017 for the amount of £200.00
Your second loan was obtained on the 02/05/2017 for the amount of £350.00
Your final loan was obtained on the 27/07/2017 for the amount of £350.00
As others have said, when I tried to make a complaint they started threatening me by saying they could do me for fraud for submitting false incoming and outgoing. My question is are the loans too small and infrequent fo take to the ombudsman?
Sara (Debt Camel) says
3 loans is marginal, but worth a try – you only want the last loan to be upheld.
Jamie Peters says
I’m still having no luck getting hold of anyone at Harrisons about my redress from 247Moneybox. Not even an automated reply. I get they’re busy, but just an acknowlegement wouln’t hurt. It’s been over 3 days since my last email, and still can’t see anything on the portal which they said to check. Harrisons are becoming as bad as Grant Thornton at responding. Don’t know what else to do. Do I just be patient and wait or do I just keep sending them emails. Any advice would be great. Thanks
Stitchly says
I’m in the same position, I doubt am gonna see a penny off them now.
Jamie Peters says
Just messaged them again, as still nothing from them. Let’s see if I get a reply this time.
They can’t ignore me forever.
Sara (Debt Camel) says
email paulboyle@harrisons.uk.com – that is one of the administrators – and explain that you are not getting any reply.
Jamie Peters says
Hi Sara, thank you for that. Just had the same automated message.
Jamie Peters
emily56 says
Oakham had rejected my affordability complaint, but I have had many refunds from this time so I believe that I can win the case. but the financial ombudsman said that they do not deal with them as they are in liquidation, so I tried the other company which deals with the company once they are shut down and they told me that they have not completely shut down yet so they cannot. is there anything else i could do please?
Sara (Debt Camel) says
when did Oakam reject your complaint? Had you sent it to the Ombudsman before they went into administration?
Emily56 says
Oakham rejected in November 21 and I sent to resolver 10 janurary 22 and I think they went into administration in February 22
Sara (Debt Camel) says
go back to the administrators, say you had an open complaint with the Ombudsman and yiou want them to consider this claim.
Emily56 says
Who are the administrators?
Sara (Debt Camel) says
Well first just email Oakam. Come back if they refuse in writing.
Emily56 says
I did complaint to Oakham and they rejected the complaint.
Can resolver not uphold it even though I complained to them before they went into administration?
Sara (Debt Camel) says
Resolver is an email forwarding service – they don’t themselves make any decisions.
They will have sent your complaint to the Ombudsman who cannot look at cases where the lender is in administration.
Lynne says
Andrew Tate and James Hopkirk of Kreston Reeves . I contacted them recently but like Sara says they told me I can still contact Oakham direct.
Emily56 says
Do you have contact details for these please ? And do I just submit the complaint ?
Lynne says
I got this response from provident after I said I wasn’t happy that I wasn’t considered for redress. Anyone had any experience once it goes to tbe Adjudicator? Is the decision likely to change?
Thank you for raising your appeal with us, we have now had the opportunity to review this but our decision remains unchanged.
Under the Scheme your claim will be a Disputed Scheme Claim and will now be referred to the Adjudicator for an independent review to take place. Once the Adjudicator receives your appeal they will have up to 60 days to review the information and determine an outcome. If any further information is required from you we will be in touch.
In the meantime no further action is required from you.
Sara (Debt Camel) says
the first adjudicator referrals are just being made – there is no experience yet of how long they will take or what the uphold rate is.
Lenny says
Where do you stand if you had a debt with an original lender which was then passed to a debt collection agency who added fees/costs? In my case, a number of my original loans went to a debt collection agency (e.g. Asset and Investigations Collection) who then used TM Legal Services to obtain county court judgement which again added costs/fees.
An original balance of £1495 was assigned to AC&I, and I was ultimately asked to pay £1744. Do I still have to bear the cost of these fees and the CCJ?
Sara (Debt Camel) says
No you shouldn’t. Ask the original lender(s) for them to be refunded and for the CCJ to be “set aside”
Angela says
Hi Lenny took my jar for unaffordable loan and got loan refunded 2years ago then the same Debt collection agency that you mentioned contacted me this week saying they bought the debt from my jar l rang them sent documents saying that my jar should not have sold them the debt as it was settled the debt agent then wrote it off saying it should not have got to them be careful and double check everything the debt with my jar was 53!pounds debt agency said l owed 450 what a joke
Lenny says
Thanks both Sara and Angela – I will be sure to check these elements of it. I can see straight away that significant additional costs have been added and I’m keen to get those off my record along with the accounts more generally.
Emily says
Hi Sara,
I raised a complaint with Safetynet credit a few weeks ago, they haven’t yet responded, but I’ve just seen that they have reported on my credit file that I’ve reopened the account/it now shows as active despite being closed back in 2020. Please could you advise what I should say to get this rectified? I have no idea why they’ve done this, terrified as I’ve been working so hard to keep my file clean.
Sara (Debt Camel) says
Tell them to correct it or you will be asking for additional compensation from the Ombudsman.
Paul says
Hi Emily, it happens to everyone that with Safety Net but they remove it once the complaint is closed. Myself and quite a few of my friends and family had an account with Safety Net (was good to have for emergencies) and the same happened to us all that on our credit file it showed as open after we put in our complaints in 2020 and 2021. Personally I shut Safety Net in 2017 and then it appeared open on my file last year but there was no balance so it didn’t change my score and went once the complaint was resolved. If it helps every single one of us got our complaints upheld but it did take between 6 to the 8 weeks for them to reply to us all. I got all my interest back but I had been in 2 payment plans with them but I felt this was my strongest case because they had access to my bank account before borrowing (other pay day loans don’t have that) so Safety Net could see all the loans I had etc and could see I had no affordability to ever repay the credit limit they kept increasing for me. Good luck anyway but don’t worry about the credit file it disappears again soon after the complaint is resolved and they don’t carry out a search etc so it has no impact on your score. It is a bit of a shock to see though but they say they need to re-open the account in order to be able to look at the complaint case.
Emily says
Thank you SO much both! Really helpful and reassuring.
julie says
Hi Sara,
I received this email this morning, What does termination mean? Does it mean it has been passed to a debt collector?
“We are writing to inform you that your loan account with us has been terminated as of 25-Apr-2022. ”
Thank you
Sara (Debt Camel) says
Could you give some background? Who is the lender? Have you missed payments to them?
julie says
Hi Sara,
Yes I have missed payments. I logged in and there is only £154 to pay.
is it best to just pay this off in full.
Sara (Debt Camel) says
is this a payday loan? Was it your first from that lender or did you have several?
do you have other debt problems or have your bills gone up?
do you really have £154 spare for this? because the damage to your credit record is already done with this one – if you scrape money together to clear it and then miss payments to other debts or important bills, you are making things worse not better…
julie says
It wasn’t my first loan, I did the irresponsible landing complaint but it wasn’t upheld so now with the ombudsman
Sara (Debt Camel) says
and do you have other problem debts?
Andy says
Has anyone had any luck with Mr Lender recently?
They acknowledged my complaint on 25/03 but nothing else since
They seem to be dragging it out
Lynne says
They haven’t upheld my complaint and this has their quite frankly laughable response.
Loan 1
Capital Borrowed : £150.00
Capital Repaid: £150.00
Interest Repaid: £37.50
Loan 2
Capital Borrowed : £500.00
Capital Repaid: £500.00
Interest Repaid: £30.00
Loan 3
Capital Borrowed : £700.00
Capital Repaid: £101.44
Interest Repaid: £0.00
As you borrowed a total of £1,350.00 and only repaid Mr Lender £818.94 overall, we would not be looking to refund you interest repaid on the loans you have held.
However on this occasion, due to your circumstances we would be willing to refund you the voucher amount of £25.00.
Sara (Debt Camel) says
it is saying you haven’t repaid the last loan. Have you?
Lynne says
When I last logged into my account 5 years ago it was showing that my loan had been sold onto a collection company who I never heard of, or from, since. I just thought the ‘£25 voucher’ seems laughable insult
Sara (Debt Camel) says
does this debt show on your credit record?
Mike says
Had an email from CashEuroNet, paying 53.5p in the pound within 2 weeks. £1200 coming my way, happy days!
Geraint says
Just had my email too! £864! Wooop!!
Chrissy says
Me too, just over £3300 – Happy Days
Andrew says
Hi is this the first and final payout I went through my emails and I have a email in 2020 saying I had a claim accepted for 2700 but I haven’t had the email everyone saying they had is it possible they paid mementoes earlier on on the process my email hasn’t changed ?
Sara (Debt Camel) says
this is the only payout that is being made.
Andrew says
Just wondering why I never got a email is it worth contacting administrators do you think
Sara (Debt Camel) says
yes probably.
Lynne says
Whose the lender?
Sara (Debt Camel) says
QuickQuid
Thomas says
The Joint Administrators are now in a position to declare a first and final dividend of 53.5p in the £.
You will receive a payment of £2,296.23
…
you will receive your payment within two weeks of this email.
____________
Its true, its final, it’s more than expected. Wooohooo
Lenny says
Anybody else dealing with THL Direct?
I had an oustanding loan with them and complained last week. They have written today to indicate that “all balances and accounts have been deducted to zero”. They have indicated this to the FCA.
I will keep an eye on this as my debt had been sold on to PRAC Financial and has been administered by BW Legal.
Apparently – “This is a full and final settlement for all accounts ever held with us now and in the future. All accounts and files will be updated accordingly”.