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?
Stacey says
Anyone heard anything from piggy bank? Been almost three years now since they went into administration. Keep getting same response from customer services.
Ryan says
I was wondering the same, I’ve heard nothing for 3 years. No idea what’s going on
Ace says
Shocking from The Money Platform. They’ve made a massive cock up and taken money out of peoples accounts on Friday for loans they had already paid in March.
It started with this message back in February
‘We hope this email finds you well. We have been notified of a problem via our payment provider Mangopay with VISA payments collected in the period from 22/02 – 04/03.’
Below is the automated response yesterday.
UNEXPECTED PAYMENT?** If your query is regarding an unexpected payment that was taken on Friday 22nd July, please note that we are working hard to urgently resolve this with our payment provider and return funds to you and we will be in touch as soon as we have an update.
They’ve put nothing on their social media and have basically shut up shop for the weekend leaving some stranded abroad with no money. They’ve taken £300 out of my account and looking at the comments on trust pilot there’s a lot of people in the same boat.
https://uk.trustpilot.com/review/www.themoneyplatform.com
If you had a loan with them in Feb/March please check your bank account.
Sara (Debt Camel) says
That is dreadful.
They should not just refund you the money but also cover any other costs you have had as a result. Send a complaint to the Financial Ombudsman if they don’t.
Why is it always over the weekend!!!!
Robert says
Hi Sara,
I submitted an affordability claim with Fernovo about 1-2 weeks ago. The reason I submitted it was because even though the loans I took out were small they were part of the ongoing loans cycle that I was/am stuck in. Even though I struggled I always found a way to make my repayments. I received an email today stating that my complaint has not been upheld. It says:
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 waive 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 £150 (based on £150 principal amount). Repaying this amount will close your balance. We would be happy to help you set up an affordable, interest free repayment plan going forward. 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.
I was wondering if I should just accept their conclusions on my complaint. My main issue in their conclusion is that it was not a ‘momentary cash flow issue’ as they have stated and the length of time between repaying a loan and taking another would have indicated this. As I said, the loans are tiny in comparison to other people, but I suppose at least now, I will not be able to apply for any further from them.
Sara (Debt Camel) says
how many loans did you have? over what period? and how large were they?
Robert says
Hi Sara
There were 8 loans (all pretty small – 100, 300, 100, 200, 150, 200, 150, 150) over a period of 25 months end to end (per the email I received). Most were repaid over 3 months apart from the 2x£100 ones
Sara (Debt Camel) says
and your current balance is?
Robert says
£222.45 (£150 loan + £72.45 interest)
Lynne says
Moneyboat have offered me 50% discount to pay off my balance and this will close the account. I’m so relieved as this is a CCJ although I wish they’d done this sooner as it’s recently stopped me from getting a job due to being a live CCJ. Had it been settled things might have been different.
Sara (Debt Camel) says
do you think you have a good affordabilty complaint against them? because if you can win one, you can ask them to “set aside” the CCJ which will remove it from your credit record.
Lynne says
No it was a small loan and I can’t be bothered with the hassle all over again the threats of putting fraudulent info etc.
The thing is I’d asked several times if they’d reduce the balance for early settlement and they kept saying no. They say they’re making this offer now due to the cost of living crisis and in ‘an effort to help customers improve their credit rating’. So I’m paying it off on Friday. Annoying though that I lost out on a job because of it just a few eeeks ago and now this happens.
Paul says
Has Trusted Quid gone into administration ?.
I’m trying to find out if it’s possible to get a refund from them.
Sara (Debt Camel) says
Sorry they were dissolved last year https://find-and-update.company-information.service.gov.uk/search?q=07112031
Carl says
Hi Sara and everyone
Have you had any comments today regarding H&T pawn brokers/payday loans sending emails stating your entitled to redress?
I received one today saying amount am due and login to give details etc for £254 but unsure if it’s junk? I logged in and input details on site and says give them 60 days to pay?
Thanks
Sara (Debt Camel) says
yes a few people have had these.
How many loans did you have from them & how much interest did you pay? This may not be a good offer and it may be better to send them a complaint.
Carl says
Hi Sara
Thank you for reply. Well I did complain to them about 2 years ago and they paid maybe £200 in something redress back for 4 loans I had with them so I found it strange to receive this email today offering money and to complete bank details etc.
Carl says
Hi Sara and everyone
Have you had any comments today regarding H&T pawn brokers/payday loans sending emails stating your entitled to redress?
I received one today saying amount am due and login to give details etc for £254 but unsure if it’s junk? I logged in and put details on site and says give them 60 days to pay?
Thanks
BigMac says
Glad I found this – I don’t quite follow how the “forums” on here work – previously I kept up to date on the long drawn out Quickquid situation. Whilst we were all waiting on there people started posting about other loans they were reclaiming for – including Likely Loans – together with details of how they sent a short three line email to their email complaints address (Which was actually Oakbrook finance ) – I’ve been mulling over whether I should make a similar complaint – but I’ve been quite busy – eventually got around to it and decided to take the same approach – basically a short email stating that I feel that the loans made to me (including two top ups) should probably not have been made – and can they look into it and get back to me. I got an instant reply – email address no longer in use. Going onto their website and complaints now need to be made by post or “a form on their website” – so I guess it’s post and special delivery?
And I probably need to expand.
One “problem” I might have is that for several years I’ve always operated more than one current account – most of my payday loans and also some gambling transactions were on a different bank account to which I applied for Likely Loans – but there were some other loans on that account – including Everyday Loans, Mr Lender and H&T loans.
Sara (Debt Camel) says
Try emailing beth.kelly@oakbrookfinace.com and let me know if that works. It is the address given for complaints on the FCA register.
Did LL ask you for bank statements before approving your loan?
BigMac says
continued:
I recently received an email out of the blue from H&T (the pawnbrokers) offering me redress on the loans I took with them (which were simple loans – not secured with any valuables) – Googling showed that this had been as a result of an investigation by the FCA. (I think)
I also have an ongoing situation with Quidie Loans (although I used Fernovo loans) – they wrote to me offering me redress on one loan I took with them (about 2-3 years ago) – I remember taking several with them – but when I logged into my account it would only show the latest and not a list of them – I emailed them and asked for this list and they replied with “we’ve sent your request to the appropriate dept…..”
Nothing received in response – the original offer letter (which incidently came in an envelope with a 2nd class stamp – not business franking) asked me to respond within 21 days – or else, given the importance of the letter, they would contact me again – and indeed I received a follow up letter (this time slightly more official looking envelope and franking) – but still I was waiting for the email response for a list of all my loans – I chased up several times – and all the email responses were much the same – we’ve sent it to the appropriate dept.
n the end, I searched my emails/bank statements and found at least six loans over a two year period – most loans were 2-3 months – so clearly not much gap between the loans – the amounts were not “that high” – I don’t think they ever approved me for more than £300 – in the end, I sent off the “reply letter” – stating that I was unable to accept their offer of “one of my loans was unaffordable” – and asked them to review all my loans – that letter was sent off about three weeks ago – and I’ve heard nothing since.
Going back to my Likely Loans letter – I know I can use one of your templates – but I was trying to personalise it – in what way am I supposed to “justify” that I think the loans were/may have been unaffordable? Or do I just leave it to them to review and make a decision?
As you’ve said elsewhere, I’m wary that they might just state based on the info I provided for income and expenditure that I could “easily” afford the repayments – but given I often had several loans on the go at the same time (upwards of 6 or 7), then I would often “play down” the amount for the “credit repayments in month” box – like a lot of others on here, I was desperate for the money at the time so may well have massaged my application form.
I did put in a claim with Peachy loans a few months back – I had several loans with them over about three or four years (I think it was 11 loans) – and their response was to state that all loans were affordable – they did give a detailed breakdown to each loan – along the lines of :
Stated income = x, repayments were y – therefore, you had £200 spare to repay, and so on.
Sara (Debt Camel) says
For Likely Loans, start with the template on the large loans page here: https://debtcamel.co.uk/refunds-large-high-cost-loans/
Peachy – if you had ignored their brush-off and sent that to the Ombudsman you would probably have got a refund. Now it’s too late as they are in the late stages of administration. You cannot assume that a lengthy reply is accurate – if you know a lender caused you trouble, ignore their reply and send the case to the Ombudsman.
H&T – the question is, is that an adequate compensation? If you are not sure, ask them for a list of your loans and the interest you paid on each. Just because they have offered this amount doesn’t mean it is all you can get if you make a complaint.
Quidoe/Fernovo – same point. If you are not getting a reply from them 8 weeks after you have complained, send it to the Ombudsman.
BigMac says
Thanks for your response Sara. I think the Peachy situation came about as part of their administration – so clearly, even if I did push my case a bit further, I probably assumed that any payout would be minimal (as it has been for all bar Quickquid) that it probably would not have made a material difference.
The H&T offer was accepted and has been paid – it was quite a sizable sum (approx £1500) – and I didn’t have that many loans with them (albeit they were quite large) – I didn’t do detailed calculations – but it seemed like a reasonably generous offer.
Like yourself, I felt the Provident scheme/payout was abhorrent – and I’m still pinching myself to think that the 5% (ish) payout of £50m meant that in reality their true claim value was in excess of £1bn – it makes you wonder quite how many “unaffordable” loans they actually made over those years in question.
I will get going with the Likely Loans letter using your template. Thanks again.
Would be interesting to hear from anyone on here with recent dealings with Likely Loans? I was following Ryan’s dealings with them – whereby they seemed to assume the first loan was unaffordable, but the top up loan was fine – when in reality, taking out a top up loan is merely done to pay off the old loan and take out more credit on top without any gap in between – in addition paying the “penalty” for paying off the first loan early (I think it’s two month’s interest) – but I might be wrong.
BigMac says
I would have thought that the practice of top up loans would be right up there with the FOS and finding in the customer’s favour.
The other situation with LL is that when I was accepted for the first loan, it was at the highest possible APR – i.e. my affordability/credit score was not good enough to get their lowest APR (39.9% I think) – and on taking out top up loans, they always had to be at the same APR as the original loan and no further updated affordability/credit check to see whether I qualified for a lower APR.
Makes you think that their checks for top up loans were very minimal – from memory, I think it was a case of waiting for the customer to make six payments on time on their loan (that was their min requirement) and then the possibility of being eligible for a top up loan occurred.
Scott Topey says
I posted previously about making a claim against Moneyboat for unaffordable lending. I’d had 16 loans from that company over the past 4 years and felt like I had a strong case. Anyway, got an email from them on Sunday with their findings – basically saying they take no responsibility but as a ‘gesture of good will’ have offered me interest on my last 11 loans back – £1134.
I have emailed back saying I am willing to accept and end the matter. Just posting this to let people know that a conclusion can be reached with some of these companies in a semi-satisfactory manner, although I do believe that taking to the Ombudsman may have yielded a better return.
For those who have had refunds from Moneyboat – how long does this usually take?
Ah says
Anyone had a response from Safetynet? Mine is 16 weeks now. I have forwarded my complaint to FOS. I’m just thinking are they delaying to see if we do pass our complaints on?
Sandra says
I have put a complaint to Safetynet 5 weeks ago. They acknowledged the complaint. I asked them to freeze interest and they have ignored me since.
Nikki says
My complaint with Moneyboat has been provisionally accepted by the ombudsman. they have until 30th August to go back with any comments. I am not hopeful of them paying out after reading a comment further up though :(
Danny says
Fernovo are a strange outfit. Received a letter dated 30th June from them on the 11th July, demanding a response by 21st July, offering me redress compensation on 3 loans they have since deemed were unaffordable.
Great, I thought (albeit worried about them getting my response in time). Sent it back straight away, got an email confirmation on the morning of 15th July saying they had everything they need and they would be in touch within 21 days to confirm it had been done.
Haven’t heard anything as of this afternoon so I emailed them again today, and got this back:
“Please be advised that your redress compensation will be received 21 days from us receiving your redress form. We received your form on the 15.07.2022. Unfortunately, we cannot give any update until this date. You will need to wait until the 21 days are over to chase these funds.
We thank you for your patience and please accept our apologies for the inconvenience.”
Can’t work out if they are saying it will be processed this afternoon (even though the 3 weeks they promised it would be done in have clearly passed) or just clueless. Also not sure why I’m having to “chase” (their word) when they themselves have admitted wrongdoing. Next step FOS??
Sara (Debt Camel) says
how many loans did you have from them?
Danny says
3 in a three month period.
And just to add further context, they were the last lender who were prepared to deal with me. I was on a DMP with StepChange three weeks after the last loan they issued. It hadn’t occurred to me until now how wrong that probably was!
Sara (Debt Camel) says
ok so they are offering to refund all three , that’s good. I suggest you just send them an email saying that you will be sending this case to the Financial Ombudsman 8 weeks after the 11th July when you replied to their offer. if you have not been paid by that point.
Danielle says
They took a few days after the 21 days to pay me, they will do it, but chase them a week after if it hasn’t been done
Leigh says
Want to say a big thank you again to Sara & your site. I lodged complaint with lending stream who refunded me nearly £2k and my complaint sgainst Safety Net which I took the ombudsman as they did not provide decision within the stated 8 weeks was today upheld and I sill receive a redress of £1800 and my balance outstanding of £430 written off. Initially wasn’t for this site I would have never lodged a complaint with these organisations. Thank you
Kelly Edwards says
Hi Sara
I recently had a refund from lending stream and they sent me an email saying they would instruct Assets collections to get thre CCJ I have for this, removed from my credit report. That was around 3 to 4 weeks ago.. I sent the email to the country Court judgement centre who added the CCJ to my report and they have replied saying I need to fill in a form and pay £275. Is there anyway around this please? I earn too much to pay it back, do I have to pay the £275? It also states it might not get removed. Thank you
Sara (Debt Camel) says
No, Asset Collections should apply for the Set Aside not you, and it won’t cost you anything.
Kelly Edwards says
Ok so shall I contact them? Lending stream said they were contacting them but that was 3 to 4 weeks ago.
Sara (Debt Camel) says
I would wait a couple more weeks before asking LS what is happening. Tell LS you will take the complaint to the ombudsman if this isn’t resolved.
Jayne says
Has anyone has a redress refund from SafetyNet and did it take the full 14 days to arrive in your account!
Pol says
Hi jayne, I received my funds after 12 days
Michael says
Any templates for raising an affordability complaint against safety net credit? Can’t find them anywhere
Sara (Debt Camel) says
just use the standard payday loan one in the article above – they are just a payday lender, charging 0.8% interest a day and with a massive problem about repeat lending.
Steve says
Put in an affordability complaint to SafetyNet back in mid April,they replied 8 weeks later saying they hadn’t finished investigating.I waited another month and contacted them again only to get the same response.
I’ve now made a complaint to the FOS so hopefully things might get moving soon.
Matt says
Hi
When putting in a affordability complaint can you ask for payments to be paused?
Many thanks
Sara (Debt Camel) says
is this for payday loans?
Matt says
Hi
Yes got 4 on the go due to a gambling habit which I’ve turned around
Sara (Debt Camel) says
ok so you can ask for a payment pause, the lender doesn’t have to agree, but with payday laons the important thing to remember is even if the lender refuse to freeze interest, they will very soon hit the “price cap” for payday loans . You can never pay more in interest than you borrowed.
Sam says
Hi Sara,
I’ve had six loans between April 2022 and now, with a lender called Fund Ourselves.
The first 5 were repaid early, but I pretty much took another one out straight after paying the last – these were for between £100 and £250. Loan number 6 is the largest (£400) and I’m struggling to repay due to the interest. I sent a complaint and got a final response today – they said as I had repaid the first 5 loans early they had no concern about further lending and are therefore not upholding the complaint.
Is it worth sending this to the FOS? I know I repaid most of them early but surely so many loan applications in such little time should’ve caused some concern. Also currently paying a lot of other debt too.
Sara (Debt Camel) says
yes this is worth sending to FOS. Paying one loan early does not show you have no problems if you take another loan out soon after.
Marie says
How long did they take to reply
Sam says
Really quick to be fair. Sent my complaint on the 1st of August and received the final response on the 9th.
Marie says
I’ve had 16 loans with fund ourselves in under 12 months due to gambling addiction during the times I had these I also had many other payday loans at the same time. I’ve sent them a complaint as I’m struggling to pay my 16th loan of 500 total to pay with interest now is over 1000 do u think I stand a chance to get this upheld as I’ve hit the point now where I cant keep up the payments
Sara (Debt Camel) says
I think that sounds like a strong claim.
But it may take many months to go through as you may have to go to the Ombudsman to get a resonable decision… so if you cant afford the payments now on the last loan, ask them for an affordable payment arrangement. If you have other problem debts as well, look into a debt management plan with StepChange (https://www.stepchange.org/how-we-help/debt-management-plan.aspx) to get you into a safe position.
I hope you are getting help to stop gambling?
Lynne says
So ClearScore is showing that my CCJ with Moneyboat has been removed. Does that mean it’s not visible to others? I thought it stayed on record 6 years? (it was lodged 2018).
Sara (Debt Camel) says
remind me what happened with your MB complaint?
Lynne says
They did tbe usual said I must’ve used fraudulentinfo on application etc to be honest it was such a small amount so I’ve settled it now as they offered half price to close it. I was a bit annoyed though as when I asked previously for a reduced settlement figure they said that wasn’t possible so in the meantime I was turned down for a job due to tne CCJ and how it looks like it’s gone from my record!
Lynne says
Just looked a little further and it says discharged so presumably it’ll still be visible for another 18 months (ccj was from Jan 2018)
Joe says
I have a complaint with SafetyNet – Friday will be the 8 week deadline. Looking at other comments, I assume I’m unlikely to receive a final response within the timeframe? Has anyone received the final response on time lately?
Sara (Debt Camel) says
if you don’t get it then, send it straight to the Ombudsman. They don’t seem to be just a week or so behind, the response never seems to arrive.
John says
I’m in the same boat. I just contacted them and they basically told me to wait longer or go to the ombudsman
Sandra says
Safety net must be looking at my complaint now after 4 weeks or so as they have removed my available credit.
Megs says
Can you never pay more than you borrowed if over 12 months?
Sara (Debt Camel) says
if the borrowing is over 12 months, the payday loan price cap doesnt apply. So high cost lending over several years can frequently mean repaying more in interest than you borrowed.
David says
Hi guys I am waiting for a refund off safety net credit 336!! I accepted their offer two weeks come tomorrow and said 14days, no payment yet. Do they count the weekend as one day or is it just week days, been following this site for some years now if it wasn’t for this site I wouldn’t of even thought of putting claims in thanks
Leigh says
I’m awaiting my redress refund, in email received from SafetyNet it said following:
We aim to process refunds within 14 working days from the acceptance
So it wouldn’t class weekends as working days.
David says
Thanks for the reply, thanks for help I can’t remember what I done with emai but spoke to them on live chat, hopefully receive my funds by Thursday and that will make it 14 days, hopefully sooner!
Leigh says
Fingers crossed sooner rather than later for you. They are also removing my outstanding balance and logged in today and balance is now zero and account closed (5 working days since I accepted redress offer) so hopefully means funds will be going through process towards my bank account.
David says
My claim took just under 8 weeks, this was from two years ago when my account was open, only decided to put a claim in when I read this website. Thanks Sara! I got my money today so that’s 14 days, well happy
Joe says
Hi Sarah,
I chased this up with Safety Net via their live chat. They’ve told me they didn’t receive my complaint and if I like I can make the complaint again, but will have to wait 8 weeks, again.
I sent my complaint to complaints@safetynetmail.co.uk, as stated in their complaints procedure.
I don’t think it’s fair for me to have to wait another 8 weeks. It was 100% sent to them – although I didn’t receive an acknowledgement, but didn’t think anything of it as I haven’t always received one from lenders.
Any advice?
Sara (Debt Camel) says
huh.
You have the email showing as sent on your phone?
Lenny says
Just got a letter from Quidie/Fernovo offering me £259 compensation for 4 loans that were taken out. Should I accept the letter? Seems strange they’re offering compensation without me claiming. Makes me suspect they’re trying to offer me less than I would get if I did an IRL claim. However, at the same time I’m wondering whether to just accept it and save the hassle of trying to claim or even missing out if the company decide to go into Administration.
Anyone else had an offer? Any thoughts?
Sara (Debt Camel) says
do you know how large the loans were and how much interest you paid on each of them?
this could be a good offer or a terrible one, you need the facts to decide.
If you don’t know, reply asking for the loan details saying that you need them in order to decide whether to accept their offer.
Lenny says
They’ve listed 4 loans totalling £1100 borrowed. They’ve provided the following breakdown:
Interest on loans £154.11, Refund of overpayments (not sure what that means) £504.11, Application of 8% interest £131.24, Tax deduction £26.25. Final offer amount £259.10
Sara (Debt Camel) says
I don’t know what that “refund of overpayments” figure is either.
I suggest you ask them for the amount borrowed on each loan and the amount you repaid on each loan.
Sandra says
Message received from SafetyNet.
Dear Customer,
Thank you for using SafetyNet. We are writing to let you know about a change to the way our repayments work. We are still able to take repayments using the Continuous Payment Authority (CPA) but these are now capped on a monthly basis based on your individual affordability. You can see what this cap is and tell us more about your financial situation from your dashboard. Please also be aware any repayments we take automatically may not be enough to meet your contractual minimum payment. You can find this amount and when it is due on your dashboard. Automatic Repayments explained: Automatic repayments – as soon as we see your bank balance increases by more than £50 (for example, you may have received your salary) we will attempt to take an automatic repayment from your bank account. This will reduce your balance with us and save you interest (remember, we charge 80p daily for every £100 borrowed for up to 40 days). The total monthly amount that SafetyNet will automatically take is capped according to our affordability assessment and repayments will not take your bank balance below your protection level. You can set the protection level yourself through your online dashboard up to a level of £500 although it is set to £20 by default. Kind regards, SafetyNet.
Sara (Debt Camel) says
Did you find that message clear? Helpful? Worrying?
SNCs helping themselves to the money from your bank account has kept many people trapped in debt with them as they then have to borrow again.
How long have you been using them for?
Are you often in an overdraft with your bank?
Sandra says
Yes found it clear i have asked them before as the amount they were taking in interest compared to the amount borrowed was a lot.
I have asked them not to take money by cpa as they were taking everything and leaving £50 in my account.
I have been using them since 2016 and in overdraft every week. I have queried unaffordability my account has now no available funds and they froze interest fir 30 days.
Sara (Debt Camel) says
So have you made an affordability complaint or just asked them a question?
I suggest you tell your bank to cancel the CPA to Safetynet Credit as well – better safe than sorry. You have to phone your bank to do this.
What other high cost credit do you have – catalogues? cards? loans?
Have you been in your overdraft continuously for a long time? How long?
Danielle says
Hi everyone,
Just got an email from SNC today exactly 8 weeks after complaint and they are upholding my complaint! 2302 pounds coming back to me, I couldn’t be happier, thank you so much Sara for this wonderful site which had helped so many.
They’ve said I need to send an email to accept, does anyone know if you can just reply to the email they have sent to me today? As it’s the same email they said to send the acceptance anyway, or do I have to send a separate email?
Many thanks
Danielle
David says
I just replied to the email yes and I also messaged them in my account!
Also I’ve just put two claims in with cashASAP and cash4unow, has anyone put claims in with this company and has had refunds or any kind of dealings with them thanks
Danielle says
Hi David,
Have you received your refund yet from safety net? If so how long did it take?
Many thanks
David says
Exactly two weeks including weekends from when I accepted
Danielle says
That’s great! At least it not 14 business days!
Thank you for your reply
Joe says
Hi Sarah,
Not sure what happened here. They were adamant they hadn’t received my complaint, but I received a final response yesterday in which rejected my complaint.
To be fair, my credit limit is rather small. Started as £100 and increased to £130. At the time of the application, I was applying with any lender I could find and SafetyNet was the only one to accept me. I know it’s not a huge amount but I’m now stuck in a cycle of paying back the balance and then instantly re-borrowing and have been doing this since opening the account in February 2021. At the time I had several payday loans, with some of them on payment arrangements and two credit cards at their limit. SafetyNet said they found no adverse information on my credit files, but they made no mention of my bank statements which they have access too which would’ve shown all my debts and financial issues.
When they’ve calculated my income, they’ve included things like money being transferred from other accounts and friends sending me money. My only source of income is my wages which comes to just over £1400 a month. Below is their calculations on the final response which I don’t really understand:
Monthly Income (MI), made up of salary, bank
transfers, other income and 50% of welfare and
benefits
£2,192.37
Non-Disposable Expenditure (NDE) £2,075.67
Disposable Income (MI – NDE) £116.70
I have forwarded this to the FOS.
Sara (Debt Camel) says
quite right to send that on. Even though your balance was small, having it constantly for over a year is a sign of problems.
What is your financial situation at the moment? Have you asked SNC to stop taking payment by CPA? What other high cost and other debt do you have?
Steve says
Piggybank:
Article in the Bournemouth Echo today regarding redress states..
“The project continues and is anticipated to be concluded by the end of August,” the report said.
If you type Piggybank into Google then press the News option the article from today is revealed first which contains further details.
Mahdi says
Hi Sara, I made a complaint to SafetyNet and Lending stream but all I have received was a copy of my loans and transactions. In the Emails there was no acknowledgement of my refund request is that normal?
Sara (Debt Camel) says
They have 8 weeks to reply to your complaint. They often send the loan info first.
Mahdi says
Hi Sarah,
Thank you as always for the information you provide.
SNC decided to uphold my complaint. However they had outsourced the debt to a debt collection agency called lantern. Lantern then got solicitors to work on their behalf and I ended up getting a CCJ on my account. When I asked SNC if this will be removed or if I have to pay the CCJ they said they weren’t sure. Any thoughts please?
Many thanks
Sara (Debt Camel) says
SNC has to settle your debt to the debt collector, CCJ or not.
In this case you also want the CCJ “set aside” – that is the legal term for removed.
Megsk says
Hey all …. so I have response from fos case against 118118 and it in my favour so getting refund….Firstly thank you to this site it helped me so much …. does anyone know how long it takes to receive the refund?
Thanks
Becky says
I got my refund after 2 weeks of the decision 😊
Ross says
They’ll respond, agreeing with what the FOS has decided and the refund should follow a few days after. That’s happened with mine.
Megan says
Hi all
So I have have loan with Tick Tock Loans , Borrowed £350 Total to be repaid £639.96 over 6 months. I made irresponsible lending complaint they haven’t upheld but have said following
By withdrawing your complaint, you will be rewarded with the following:
£75 reduction in interest owed.
Interest-free repayment plan if you clear the outstanding debt in no more than 6 monthly instalments of £79.65 each without new arrears.
Remove arrears mark from Credit Reference Agency files.
Erase your loan from Credit Reference Agency files after the full repayment of the loan.
I would strongly recommend you have a call with our Complaints Officer at 020 8090 8340
If they have nothing to hide why say this? Or is this good offer? Thanks in advance for Help :)
Sara (Debt Camel) says
is this your first loan with them? Have you made any payments to it so far?
Megan says
Paid back 106.35 so far…this is first loan with them
Sara (Debt Camel) says
can you afford the monthly payments they are proposing?
Megan says
Yes new proposed is affordable
Thank you for your help
Sara (Debt Camel) says
This is a smallish loan and your first from them – you are unlikely to win this case at the Ombudsman (but in theory it is possible you could).
They are making an offer as (a) they dont want to have to pay the Ombudsman fees they would be changed even if you win the case and (b) they would rather get some money back quickly than have you propose £10 a month for more than 5 years.
It’s possible they improve it slightly but probably not much.
But their offer is rather odd. Rounding numbers:
If they take 75 off the interest then the total you should repay is only 640-75= 565
But you have paid 106 and they are suggesting 6 payments of 80 = 586 in all. which isnt 75 off.
You could go back and point this out and ask if they will accept 6 payments of £70 a month. (or any other amount – it should in theory be £76 a month – the lower you offer the less likely they are to accept.)
Richard says
Hi Sara
Thanks so much for such a great site. Having previously used your templates and had success with both MyJar and Ferratum prior to administrations for £1100 and £650 in redress, I’ve recently submitted 2 more claims.
Mr Lender 6 loans
July 2019 £200
May 2020 £200
December 2020 £200
June 2021 £200
December 2021 £200
February 2022 £220
Quidmarket 2 loans
August 2021 £300
December 2021 £400
Just wondering do you feel if either of these claims are likely to be successful if taken to the ombudsman? I am still waiting on final responses from each lender (both are within the 8 week timescale at present).
Sara (Debt Camel) says
how long were these loans – 3 month? 6 months?
Richard says
Hi Sara
Mr lender
Loan 1- £200-3 months paid after 1 month
Loan 2-£200-6 months
Loan 3-£200-6 months
Loan 4-£200-5 months extended to 6
Loan 5-£200-4 months paid back after few days with Quidmarket loan for £400 December 2021
Loan 6 £220-4 months- currently in a payment plan
Quidmarket
August 21-£300-4 months paid back in month 3 to save interest
December 21 £400-6 months- currently in a payment plan
It’s quite a mess and hoping these are the last, embarrassed to say I’ve fallen into the payday trap twice now.
Loan
Sara (Debt Camel) says
So Mr lender – that looks like persistent borrowing even though the loans were small. I would hope they will refund you the last 2.
Quidmarket is more marginal but hopefully they will remove interest from the last loan.
Tony says
Hi,
First of all, thank you for all the content on the site. I submitted a complaint to Moneyboat about a couple of loans (£500 repaid early, followed by £1500 a couple of days later, still active). They came back with a rejection, saying that the information I provided and my credit file suggested to them this is affordable, but that if they had looked at my bank statements they might have not provided it, but there was nothing to suggest they should have looked closer. I have decided to forward this on to FOS, for the following reasons:
1) The loan was large £1,500
2) I re-borrowed immediately
3) My credit report shows significant borrowing, including multiple other payday loans and high-cost credit cards
4) early repayment was to save interest
5) My income is high and was confirmed with a payslip, but I believe that should have raised questions why am I applying for a payday loan
I wanted to ask a couple of questions. Firstly, given that the second loan is still active and I am yet to repay it (first payment only at the end of this month), is it reasonable for me to ask to have interest removed from the amount so that I only repay the principal amount? Secondly, I have just submitted the case to FOS, do I have to tell Moneyboat that I have referred this to FOS to give them a heads up?
Thank you!
Sara (Debt Camel) says
Firstly, given that the second loan is still active and I am yet to repay it (first payment only at the end of this month), is it reasonable for me to ask to have interest removed from the amount so that I only repay the principal amount?
That is the standard redress if a loan is found to be unaffordable. It is unusual for someone to make an affordability complaint so soon after applying for the loan. What did you do with the money and has something changed very quickly?
Secondly, I have just submitted the case to FOS, do I have to tell Moneyboat that I have referred this to FOS to give them a heads up?
You can if you want to, but you don’t have to.
Tony says
Hi, I stupidly tried to invest additional money into a crypto project, which turned out to be unsuccessful. Would it matter to FOS what I did with the money after I received it, if they are evaluating whether or not the loan was affordable in the first place? Thanks!
Sara (Debt Camel) says
Probably not. I haven’t seen a case like this. If you had lost the money gambling it wouldn’t, and that is effectively what you did.
Is a lot of your other high cost debt related to crypto speculation?
Amy says
Hi
Has anyone tried to claim back from cash float , I have had several loans with them and was wondering if it was worth a try
Cheers
Amy
Sara (Debt Camel) says
They are a tiny lender so haven’t been mentioned very often. How many loans have you had from them?
Amy says
Hiya , I had 4 altogether, but I was paying it off then borrowing straight away after , so I might give it a go , thank you 😊
Lynne says
Yes I have had success with them and I only borrowed a couple of times.
Danny says
Is there anymore info for Piggybank? I know somebody mentioned there was an article posted online saying they hope to have things sorted by the end of August
Aaron says
wondering if anyone has filed any complaints/had any success with fundourselves.com? I just worked out ive had 21 loans from them since march 2021 all of which were used for gambling, alot of these loans I paid back early after lucky wins or loaning money from other companies/friends+ family to save on the interest, will this affect my claim? they will say this proves I could afford them? I was unemployed and on Universal Credit for all of these loans with basically no disposable income, £15-£20 a month at most, fundourselves never asked me to prove my income at any stage, im ashamed to say I lied on the application form by saying I was employed full time. what do you think my chances of success are? thanks
Sara (Debt Camel) says
The lender should have realised you were in difficulty well before 21 loans. Do you know how much interest you paid in all?
Aaron says
I did a rough calculation and it appears to be around £450 interest total for all the loans combined
Sara (Debt Camel) says
The loans sound small. So you may well not get a refund for a lot of the early ones.
Danielle says
Well if they would have done thier checks properly then they would have asked for bank statements to prove your income and would have seen it, plus your gambling and would have declined your application, so yes go for it, the worst that can happen is you will have to take it to FOS and they will say yes or no.
James says
I would also be keen to find out about this 100% interest, 4 x loans 2 at £800 and 2 at £1500. Only paid about £600 in interest as 100% interest but the company are a joke.
Not sure we can claim irresponsible lending as they are p2p lending?
Sara (Debt Camel) says
you can make affordability complaints about P2P lenders.
Karl says
I submitted a complaint to them last week, but have only received the automatic response that acknowledges that a complaint has been received. I have used them for a bit more than a couple of years, and in a similar situation where I borrowed, repaid early (to save interest) and soon after re-borrowed. Over this period, I’ve had a total of 27 loans from them, paying close to £2.5k in interest. At no point they asked for verification of any information. I think this is the one instance, where I will try to get back the full interest paid, statutory interest and get the loans removed from my credit file, as looking back at the data, it is absolutely ridiculous how they did not stop automatically approving loans way before we got to this point. Would be great to hear from someone that has actually had a response from them.
Sam says
Hi Karl,
I submitted a complaint to Fund Ourselves and received the final response in 8 days, it was rejected.
I had 6 loans within a 4 month period, between 100 and 300 and no checks were made. Nowhere near as many as you but 6 in a 4 month period seems quite a lot. The first three loans I paid off early, but pretty much re-applied straight after paying each time. They said because I paid early they were affordable. It’s now with the FOS.
Keep us updated with yours.
Sara (Debt Camel) says
Paying a loan early has NOTHING to do with whether they are affordable if you had to reborrow soon afterward.
Aaron says
that’s what I reckon they’re going to say to me aswell, similar situation, paid back all of the 21 loans I took out early, will be a pain if I have to go to the ombudsman as they have a massive backlog of cases, I have a case I submitted 6 months ago that still hasn’t been assigned to a case handler so god knows how long it would take to get this looked at, hopefully fundourselves will do the decent thing and make me an offer but I have my doubts
Karl says
I received the final response on my 27 loans with Fundourselves. This is what they said:
“Your income minus your financial commitments would’ve left you with enough disposable income to cover your loan repayments. By you providing us with these figures, you are confirming that the loan repayments are affordable. We expect all applicants to provide us with accurate information, which we will accept in good faith and we cannot be held responsible if the information given is inaccurate. We do not necessarily have to request bank statements either as we use the services of a national credit bureau to assess the accuracy of the information provided at the time of the applications.”
I have submitted this to FOS, pointing out that the level and frequency of borrowing increased but they did not ask for any documents. They claim to have relied on credit reference agencies, but those would have shown total borrowing going up, including loans from high-cost providers. On bank statements they would have seen a significant number of gambling transactions. Furthermore, the fact that they believed I had significant discretionary income, but had to rely on payday loans regularly while my credit score kept going down seems negligent and irresponsible. I repaid loans early to save interest.
I know it will take a long time for this case to be looked at by FOS, but I will keep everyone here posted about how I get on when I finally hear from someone at FOS.
Kristy says
Hi Karl,
I’m in a similar boat as you with Fundourselves. They today rejected my claim that the loans were unaffordable, I had defaulted on a previous loan with them on all the payment due dates and they still accepted me for another loan, 2 months later. They claim they were affordable, but seemed to ignore my poor credit and previous defaults.
Nikki says
Hi, I have just had my final response from the Ombudsman regarding Moneyboat. They have been told to pay me back interest paid on my last 2 loans which is £1608.88 plus the 8% interest.
I was just wondering if anyone has received a refund from them after an ombudsman decision and how long did it take?
Dana says
Hi Sara,
Just when I thought I was out of the woods and in control of my finances, I today got an awful surprise when I opened my credit file and seen that Aci, the company that is collecting MyJars debt, have very recently issued a default on my credit file predating back to to 2019, I rang them today to enquire and they told me MyJar were going to issue it anyway but they couldn’t because they were going into liquidation, but, and I explained, I had a repayment plan with MyJar that they stated in the email they wouldn’t default my account as long as payments were made, Which they were, I have this is in writing, and the reason they gave me this was to stop me from going to the FOS when they didn’t uphold my irresponsible lending complaint (which I’m sure I would have won).
I’ve sent over the emails from MyJar confirming this and they do seem to be a bit concerned about this, and they’ve admitted I didn’t even receive any notification of the default, so I’m hoping they’ll realise this was an error and shouldn’t have been applied, do you think they will remove it and if not what can I do? Go to the FOS?
Sara (Debt Camel) says
This is a very odd case. It is a pity you didn’t ignore this and send it to FOS originally.
But as you were told this by Myjar, you can tell ACI that Myjar have effectively changed terms of the loan and you have then repaid in accordance with those terms so your credit record should not be harmed. And send it to the Ombudsman if ACI reject this.
Lola says
Hi Sara,
Just wanted your advice on a complaint I made to everyday lending.
I submitted my complaint to them and they responded not upholding my complaint.
I then sent it on to the ombudsman and it was picked up by an adjudicator who without asking me for any bank statements or documents ruled in favour of everyday lending.
Once I received the ruling from the adjudicator I sent over all my statements and credit scoring Info for the time prior and after the loans as everyday lendings information was not correct. The adjudicator still will not look at my statements and on a telephone conversation told me he will just send it to the ombudsman and the ombudsman can look at all the evidence.
I find it really strange that the adjudicator was unwilling to look at my evidence and only look at the evidence provided by everyday lending.
Is this something that you have heard of before?
Sara (Debt Camel) says
Most people send the bank statements and credit records in without being asked.
Definitely ask this to go to an Ombudsman. If what EL has said is not correct, make sure you write all this down, send it to the adjudicator and ask for it to be shown to the Ombudsman, don’t wait and hoped to be asked about this.
Lola says
Thank you for your reply.
I have sent everything over now, which shows everything including debts that EL ommited from their records.
I have formally asked for it to be sent to the ombudsman.
With my previous complaint I was asked to send over all documents for certain time periods once it was picked up, I never got that this time, just an outcome. I will ensure I don’t make that mistake again.
Laura says
Hi Sara,
I had 4 loans from sunny in 2019 all defaulted, they were sold to elevate then Merligen & I paid them off. I requested equifax to suppress them as they were unaffordable, which they did. However, there are still 4 merligen defaults on my file, is there anything I can do to get them suppressed or removed?, or is it just a case of waiting until 2025 until they drop off?.
Thank you!
Sara (Debt Camel) says
You didn’t make a claim in the Sunny administration?
Laura says
It was too late for me to claim by the time I knew I could, but I read about suppressing the records on your site.
Thanks
Sara (Debt Camel) says
As that page on suppressing records said, “Don’t think this will clean up your credit record if the debt was sold to a debt collector. Suppressing the record will only affect the credit record with the lender. You will need to complain separately to the debt collector if their record is wrong.”
But if you are complaining that the loans were unaffordable, the debt collector is going to say they have no evidence of that. You can try to convince them, but I don’t remember anyone having any success with this.
Jonny says
Hi Sarah,
I received a redress letter from Quidie/Fernovo at the end of July advising they have calculated that I am owed compensation. I returned this letter and they advised a redress would be paid within 21 days. This has now passed.
They now have stopped responding to emails.
I can still see they’re still lending but naturally I am worried they’ll go into administration. Any advice?
Sara (Debt Camel) says
How many loans did you have from them? How many are they offering to refund?
Jonny says
Hi Sara,
Sorry for not replying, there were 3 loans and it was for all loans. I emailed the CEO of Fernovo as it a large amount. They replied said they were processing a “large number of redresses” and I’d get mine as soon as possible which was the next day, thankfully.
My opinion is Fernovo/Quidie will be around for a short period and will most likely follow the road of other lenders into administration.
Mark says
I currently have defaulted loans with moneyboat and cashfloat.i first borrowed from them last year and the latest loans which are the 4 th time in a row they both gave me a loan ,I cannot repay.The first loan was £200 for 3 months from both and then rose to £300 for the next 3 loans from both.I do believe they shouldn’t have kept loaning me ,I have yet to complain because I may have been able to afford the loans if it wasn’t for my gambling problem which my bank statement would show man transactions
Sara (Debt Camel) says
I suggest you send them both complaints and also ask for a payment arrangement for the current debts.
Joanna Takla says
Hi
I have a SNC complaint deadline this Friday 9 Sept
Yesterday the account (not live, debt sold to Lantern in 2020 and I have been gradually paying off) had the default balance debited back in house and the payments I have made to Lantern rightly credited off it. So basically what is left to pay is now sitting at SNC so passed back to them.
Is this a sign of a positive affordability complaint outcome coming my way…
I have already been successful with LS with approx 7K redress in May.
My SNC claim is strong (4 years of continuous lending back to back pay then relends, and a LOT of interest paid)
Joanna
Amy says
Hi , I put a claim on for my jar early this year but I still have an outstanding balance of £400 but they sent me a redress of £16 back in July , and I have a default on my credit , what does this mean should I contact them ?
Sara (Debt Camel) says
So far as I know, the outstanding loans have either been sold or are no longer being collected. Ind if this loan was decided to be unaffordable the default should have been removed.
Ask myjarredress@harrisons.uk.com what is happening.
Amy says
Ok thank you Sara I have emailed them and asked is happening
MK says
Hi Sarah
I have received two small refunds from Indigo Michael Ltd today. Do they come under another pay day loan company?
Many thanks
Maria
Sara (Debt Camel) says
Safetynet Credit probably
Have you used SNC for long? You may be able to get a larger refund than they have sent you.
MK says
Hi Sara
I only had the one loan with them and have not raised a complaint so was surprised to receive this
Maria
Joanna Takla says
Just had a complaint upheld by SNC on exactly the 8 weeks mark and £6,415 awarded!
I of course accepted. I did so by phone and was told would be 14 days to receive in bank.
Has anyone received it earlier than the 14 days?
Well worth the effort, thanks again Sara, second award I have had, following 7K from LS in May. Its nice to have savings again for first time in a long time.
Sara (Debt Camel) says
very good news for you!
Sandra says
Hello
I have just had mibe rejected on the 8 weeks exactly saying it was affordable as i repaid them weekly but i got paid weekly and reborowed again
I think their spreadsheet is out as it says i only reborowed 79 times since 2016 as pay and benefits were sufficient. I was not on benefits.
I have email them details do i just go to Omnibudsman?
Sara (Debt Camel) says
yes send it to the Ombudsman now. There is no record of SNC changing their minds if you go back to them
Sandra says
Thank you will get it done.
Joanna Takla says
Sorry to hear this I hope you get a result from FO.
Lauren says
Hello, did you receive it 14 days later? Or was it 14 working days? Lauren
Sue says
I had one same time from Fernovo. Accepted offer as same thought as you in case they go into administration. Just waiting for payment now. Although I did email Thursday see what happening and they said as they decided to voluntarily offer compo, their volume of paperwork was huge and as they wanted to arrive at accurate pay out figures, requested for me to bear with but payment would be in bank soon. Will let you know when arrives
Hols says
Hi. Can anyone help or advise?.
Lending Stream have confirmed a refund amount due to not being able to afford the loans in the first place. All loans paid in full.
How long after they agree an amount do they pay out??
Lynne says
Hi I got mine within a day
Joanna Takla says
Mine was within 2 days