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?
Marco says
Hi Sara,
I had an outstanding balance for a Myjar loan I took in 2016, which still have not paid. I have now received an email from ACI who are chasing me for the outstanding amount, but I plan on getting this paid off ASAP as this is the last outstanding debt I have.
I have never had an default or any other indents left on any of my credit reports for Myjar since taking the loan and not paying it. I have done well to build up my credit report the last few years so don’t want to mess it up.
So my question is, if I was to offer them a full and final settlement figure which is accepted and then paid off, would a new entry of partial settlement still be entered onto my report even though nothing for Myjar has ever existed? I know partial settlements reflect badly so want to avoid doing this if that is the case.
Many thanks
Sara (Debt Camel) says
this loan defaulted in 2016?
Marco says
It should have defaulted around 2017, but I had no correspondence from them for the default via letter/email or on my credit report
Sara (Debt Camel) says
It may well be that no credit record is added, but in these cases where there has been some error it is possible in theory that one would be.
if a new entry is added, it should have a default date on 2017 then so it should drop off your record 6 years later next year.
A partial settlement doesn’t actually harm your credit score. And many lenders in future may not care about it at all, they will just be pleased the old debt is no longer a problem.
Marco says
Brilliant. Thanks for that information Sara and your help. Much appreciated :)
Ruth says
Hi Sarah,
I’m in arrears with Fund Ourselves but recently they have been trying to take multiple payments of the same amount each payday from my account without informing me..is this allowed? I thought it was a fluke at first but happens a few months on the run now. I made an affordability complaint but sadly missed the time between their response and reporting to ombudsman after having a baby taking over x
Sara (Debt Camel) says
they are trying to take amounts by Continuous Payment Authority? or Direct Debit?
what is the rest of your financial situation like – do you have other problems debts? any arrears on bills?
can you afford to pay them anything?
Nikki says
Just received my refund from moneyboat after the ombudsman found in my favour for 2 out of 3 loans. £1684.93, Thanks for your help sara
L says
Did moneyboat try scaremongering you with fraud etc? I’ve got 9 that are being analysed but no doubt they’ll come back with some rubbish
Nikki says
Yes they do that to everyone, send it straight to the FOS if they reject your complaint, dont let them scare you.
Jonny says
Just tell them they cannot add a fraud marker on to your credit file as they’re not even a member of CIFAS. That did the trick for me.
It’s fraudulent of them too to claim they can do something they cannot.
L says
I’m on my fifth week of waiting for a response now, this is on their website “ Should we be unable to issue you with a final response within the first four weeks of the date your complaint is received, we will send an update outlining the date you can expect to receive your final response by” however I’ve not heard anything yet. How long did your process take with FOS?
Sara (Debt Camel) says
Have you had any confirmation they have your complaint?
L says
I had confirmation yeah in the writing of a complaints handler saying he would look into it and get back to me
Sara (Debt Camel) says
That’s ok then. Just send it straight to the Ombudsman if you don’t get a reply in 8 weeks
Ciara says
Hi I had a loan with MPP money back in 2018 – they have since dissolved I think (I can’t find anything about them online) but I have negative credit because of them, is there anything I can do about this?
Sara (Debt Camel) says
yes the firm has been dissolved.
Was your debt ever sold to a debt collector?
John says
Hi Sara . I was fighting a case against provident for my mom in which we won.provident sent a cheque out too my mom for nearly £3000. About 18 months ago. My mom hid it one of her bags and found it this week. Can she still cash it ? As it was part of a payment she is owed ?
Sara (Debt Camel) says
that cheque is probably too old to cash. Try emailing joe.sweeney@provident.co.uk but this is very late as the company is being closed down.
Ross says
Hi I didn’t recieve the redress email that done people seemed to have got so I sent them unaffordable complaint email a couple weeks ago and got email this morning that it’s upheld and offering £3500 back which is great . Can anyone advise how long after accepting you received the funds ? Thanks
Sara (Debt Camel) says
which lender is this?
Ross says
Sorry H&T , it’s ok they emailed back and said within 5 working days
Ross says
That’s it in bank
L says
Morning, update from Moneyboat and they said they’ll get back to me in the next week. What do you think my chances are?
Loan 1 – £400 – interest £212.14
Loan 2 – £500 – interest £381.86
Loan 3 – £500 – interest £35
Loan 4 – £650 – interest £31.85
Loan 5 – £300 – interest £118.33
Loan 6 – £550 – interest £259.93
Loan 7 – £650 – interest £156.43
Loan 8 – £500 – interest £297.54
Loan 9 – £550 – interest £390.07
Most loans were finished and a new one in the same month with exception to 1 loan which was 2 months.
Thanks
Sara (Debt Camel) says
At the Ombudsman you may well get a refund from (that is including0 loan 4 – 4th loan in a row and going up. And you should definitely get one from (and including) loan 6.
Expect MB to threaten reporting you for fraud – they do this to everyone and no-one has even had a problem sending a cse to the Ombudsman.
L says
21/8/19 – 20/11/19
30/12/19 – 22/5/20
23/5/20 – 2/6/20
6/7/20 – 13/7/20
14/9/20 – 16/12/20
7/5/21 – 27/9/21
28/9/21 – 2/11/21
15/11/21 – 28/3/22
28/3/22 – 29/7/22
Those are the dates of all loans if that helps with what you think I might get?
They did threaten me with that but I read above they aren’t registered with Cifas.
Sara (Debt Camel) says
the dates don’t make that much difference in this situation. Just wait and see what they say.
Tim says
Hi Sara,
I have had a claim rejected by moneyboat, I had 3 loans in total (£400, £1000 & £700) and I paid around £650 total in interest. I provided them with statements for the complaint however they basically said even though the statements show I was struggling financially, as they didn’t have the information originally when giving me the loan its not their fault and are not upholding the complaint. I have since asked them to just remove the loans from my credit record without a refund which they also declined to do. If I take it to the FOS and win the claim would they have to remove the loans from my credit records? Or would they just have to remove any negative information? of which there isn’t any in terms of missed payments etc, I did try to argue that the loans themselves are negative when it comes to mortgages as they are marked as payday loans which I wasn’t aware of when taking out the loan but they still declined to remove them. My main priority is to have them removed from my record as they are the only account marked as a payday loan on my credit records. Is the FOS my best option? or would raising a dispute with the CRA’s be an option? along the lines of being misled into thinking these loans would improve my credit record but actually make it harder to get a mortgate?
Sara (Debt Camel) says
How long ago were these loans?
When are you hoping to apply for a mortgage?
Tim says
The 3 loans: September 20 and paid back same month, November 20 and paid off in feb 21, May21 and paid off in June 21. I am hoping to apply for a mortgage next year
Sara (Debt Camel) says
OK so all the payday loans have already been repaid for more than a year, and if you apply after June next year, for more than two years. This isn’t an insurmountable problem in a mortgage application normally, there are high street lenders that will make you an OK offer.
NB my comments are based on what the mortgage has been recently. It is in a state of turmoil at the moment and who knows where things will settle.
FOS doesn’t usually tell a lender to delete payday loans unless there have been an excessive number of them, only delete negative information.
But definitely take this to FOS. A refund on the 2nd and 3rd loans wi=ould be a nice dollop of cash to help with your mortgage application!
Tim says
Thanks Sara,
One other thing, I have had a few refunds with hopefully more to come. All loans over a year old but obviously the name of the company appears on my bank statement when receiving the refund. Some accounts such as mr lender have agreed to remove the loans from my credit file but they are on my recent statement giving me a refund. Will a mortage lender look badly on the refund in the bank statements? It also looks like a loan on the statements as a loan company is paying money into my account. Do you think this would be a problem and for any further refunds should I look at maybe asking them to transfer them to a different place, such as a revolut account or something.
Sara (Debt Camel) says
Most mortgage lenders look back over 6 months of statements. They can take into account what they want… but I would be surprised if they are much bothered by one off credits to the account. I don’t know of anyone that has a problem with this – and quite a few people have got mortgages after getting refunds.
L says
Moneyboat have offered me a settlement. So I have accepted.
Si says
Hi Sara and all,
I have just put a complaint in to D&A Drapers for unaffordable lending and they have come back with the following:
Before we investigate your complaint would you please comment upon the signed and dated financial assessment form you returned to us showing you had disposable income each month of £#### We pride ourselves on being responsible lenders but we require an accurate assessment of a customer’s finances if they wish to secure a loan. A copy of the form is attached.
What should I do from here?
Sara (Debt Camel) says
how large was this loan? was it the first you had from them?
si says
Hi Sara,
I have had 10 loans ranging from £100 up to £420 since April 2020
Sara (Debt Camel) says
You could tell them a responsible lender would not have given you 10 loans since April 2020 and that should have shown that you were in financial difficulty that was not being helped by their loans (assuming that is correct in your case?).
it would also help if sent them your bank statements over this period.
Say you will be sending the complaint to the Financial Ombudsman if they do not make you a satisfactory offer.
si says
Thank you, yes that is correct and they had bank statements every time from me.
Amy says
Hi
Was
Just wondering if anyone has heard or made a claim for ferratum ?
Sam says
Hi Sarah,
Is it possible to send an unaffordable lending complaint to a credit union?
Sara (Debt Camel) says
Yes, it is. Use the standard “large loan” template on this page https://debtcamel.co.uk/refunds-large-high-cost-loans/
Mel says
Has there been any update on piggy bank ? I tried to email help address but it bounced back…it’s taking so long !
Kelly says
I’m waiting too. I’m checking on the website regularly. I’ve also sent emails but keep getting the duplicate response, saying that no update is available as yet. This has been going on for ages now. I think it’s a cheek.
Debbie says
I’m waiting too, Am I right in thinking that they have till 5th December that’s when the extension date was up. I might be wrong but thought I read that somewhere.
Kelly says
I’m not sure Debbie, I emailed them again and they have sent me this. Hopefully not much longer –
Thanks for your email.
Unfortunately we do not have any updates regarding redress compensation at this time.
However, I can confirm that PiggyBank’s administration is coming to an end, so you should hear from the relevant parties within due course.
Si says
Hi,
Drapers have rejected my complaint and so I have sent it to the ombudsman and I have asked them to freeze my account until it’s resolved, the have said
Thanks for confirming but your accounts will not be put on hold and all future payments must be made on time without exception. The Ombudsman’s decision will be upheld and any future adjustments made. We advise you do not get into arrears and prejudice your case.
What’s the best thing to do now?
Thanks
Sara (Debt Camel) says
can you afford the repayments and still pay your other debts, bills and living expenses?
Si says
Hi,
Not really it would be a bit of struggle to do.
Sara (Debt Camel) says
It can take many months to get a decision from the Ombudsman.
So if you can’t afford to repay them without difficulty, you should consider asking them for a payment arrangement. They should freeze interest, but this will affect your credit record. If you win your complaint any nagative marks of the recir record are removed.
T says
Hi
You may remember i contacted you before to ask about loans 2 go and was advised to make a complaint to fos for irresponsible lending. I did this and although i rang and explained my position re cancer diagnosis i was told i would only be allocated a cade worker when there was availability. This all started in around june july time. I had an email from fos last week to say they were still unable to allocate anyone. In the meantime i had an email from loans 2 go stating it was pre solicitor letter that they were sending. I have complained to them numerous times about their aggressive communication, this time ireplied and copied in their professional standards dept, customer services, the litigationdept who had contacted me and their financial CEO who i found with a quick Google search. They have now offered to write the debt off. Im keen to bting this to an end as the stress has been really hard. If i accept does that mean the irresponsible lending claim cznt be pursued? Thanks for all your help.
Sara (Debt Camel) says
I’m sorry but accepting the offer probably does mean it settles your whole case against them.
T says
I thought so, i haven’t responded yet so will think about it. The stress of constant calls and texts from l2go was really oppressive and part of me would like this to be recognised in some way. This has stopped since i contacted the CEO, but it shouldn’t take that. Im just worried fos might also feel i should of accepted they offer. Im not lookingfor a pay out, it would just be nice for them to be more responsible and less aggressive.
Sara (Debt Camel) says
Im just worried fos might also feel i should of accepted they offer.
If that’s what FOS think, they will suggest that as the solution.
Im not looking for a pay out, it would just be nice for them to be more responsible and less aggressive.
To be honest the only reason not to accept this is to get a payout. If you are happy with the balance being cleared, then accept it. losing a FOS case isn’t going to turn L2G into a more responsible, less aggressive lender I am afraid.
BubbleTea says
Is there any situation where a lender could argue that it was NOT irresponsible lending for them to give two loans in the space of three months to someone who provided different dates of birth on each application (the first one being incorrect), and claimed their expenditure had halved on the second loan? The loans weren’t for huge amounts but have since snowballed with fees, interest, bailiff fees etc. As far as I can tell, the lender can’t have done any checks at all or they’d have noticed the massive discrepancies.
Sara (Debt Camel) says
I suggest you make this complaint and send it to the Ombudsman to make a decision on what is fair if the lender rejects it.
The rules are not written in great detail. All of these cases are “unusual” and will be decided on the facts of the individual case, not general guidelines.
Roman says
Hi Guys!
Just a quick one for you, my complaint against Cash4you has been upheld and £400 going my way. (Still waiting on cashASAP to reply)
I know that cash4 is a relatively small lender and has anyone had a refund from them yet, interested to see how long that normally takes.
Daniel says
Hello Roman what was your borrowing like with them was it frequent? I’ve put in a complaint with them and cash asap
Jonny says
I had one loan with Cash4unow and it was upheld within 5 weeks. The outstanding balance was written off and the remainder has been given as compensation. It takes 5-10 days to make payment.
Cash4unow have been one of the most easy companies to deal with. Quick response and admitting liability even with just one loan back in 2020.
Daniel says
That’s good to hear I’ve had a bout 5 with them in the last year , I’m just having to play the waiting game .
Roman says
Cash4u was like 6 loans
cashASAP is i think around 4
all these were back-to-back so after reading about this stuff I have decided to complain.
I have one more with money boat that I have accepted with a reduction to the balance as I simply can be asked to go via ombudsman as it takes a bit of time.
Daniel says
Yes that sounds similar to my situation with cash for you now and cash asap I’m just waiting to hear back off them both .
Jonny says
I have seen a few comments on here about Lending Stream, and I’m aware they can be ok sometimes but other times unreasonable, but has anyone had success with their sister company Drafty? Account opened in 2017 with a limit of £350. Increases were frequent and the limit eventually increased to £2050 in early 2019. I entered into a plan with them during the COVID period and it’s almost now paid. I’ve calculated the interest is about £2500/£3000 so don’t expect them to fully uphold it as a lot of lenders are playing on the fact that the FOS responses are so long.
Complaint is at 6 and a half weeks, so not long to wait now, but if anyone has any experience of dealing with them please let me know.
Sara (Debt Camel) says
it is very similar to Safetynet credit – lots of wins against them at the Ombudsman.
Dave says
Hi,
I took 6 payday loans from QuickQuid. Some of them one after another. Is it still possible to get a refund from QuickQuid (Cash Euronet LLC)?
Thanks,
Dave
Sara (Debt Camel) says
I am sorry but no. They are in liquidation. You are more than a year too late to make a claim.
What other high cost debts did you have? Not necessarily payday loans but other expensive loans, credit cards, overdrafts…
Carol says
Has anyone heard about the redress from Piggybank lately?
Debbie says
They told me they can’t give a date yet but piggy bank administration is coming to an end
Craig says
Lending Stream complaint section of their website is back up and working, after being dead for a long time. They have put an almost threatening, “don’t even think about it”, warning on the irresponsible lending section! Just submitted a complaint using the template above. Had 18nr loans between Feb ‘18 and April ‘19. £5.4K with £1.6k interest. Fingers crossed I can get some of it back.
Daisy says
Hi there. I am wanting to make a complaint about my 4 loans I had with Lending Stream.
On their complaint form here: https://www.lendingstream.co.uk/contactus-step2/?sel_val=customer&req_type=complaint
When I select the first option, it says, “Our checks mean it’s very unlikely that we’ll uphold complaints about unaffordable lending where there are fewer than 5 loans. Where customers have taken cases to the Financial Ombudsman Service, we’ve noticed that usually, they’ll take the same view.”.
I am not sure whether it is worth me submitting the complaint about my 4 loans to them.
What do you think I should do?
Sara (Debt Camel) says
how large were the loans and what were the gaps between them – the time taken from repaying one loan to taking out the next one?
Daisy says
Hi. The loans were between £400 and £1,800 and there were no gaps in between them. As soon as I paid one off, I took out another one.
Daisy
Sara (Debt Camel) says
then send this straight to Lending Stream. And onto the ombudsman if they reject the complaint.
Daniel says
Hello Sara , I put in an affordability complaint to cash for you now 1 month ago using the template off here , I’d have 5 loans with them in total since 2021 , was gambling at the time and go myself in a mess with payday loans so was borrowing one loan then getting another With other payday loans when I put in my complaint with cash 4 you. Now I forgot to add the part about the gambling to it , I’ve had a response off them today .
Daniel says
I had this response off them today ;Good afternoon,
Thank you for your recent correspondence, the contents of which have been noted.
You mention your struggles with gambling in your most recent email, we note that this was not brought up in your original affordability complaint, I have provided said email below for your refence; and whilst we understand that these can be debilitating and have significant effects upon an individual’s health and wellbeing, and we are sympathetic to the situation you find/found yourself in, we cannot be responsible for causing it. Furthermore, consumers can gamble without this being visible on bank statements. Consumers may use an alternative account, cash or fund this with a credit card and previous Financial Ombudsman Service (FOS) decisions have noted that gambling may not necessarily be picked up from bank statements.
Furthermore, it is not a regulatory requirement to request bank statements upon each and every application. We have reasonable expectations that customers are being accurate and honest when applying for a loan
Sara (Debt Camel) says
so they have rejected your complaint?
can you list the loan sizes in order eg 300,400,250,600,500
Daniel says
Yes sorry Sara they’ve rejected it.
£150
£300
£500
£570
£570
Sara (Debt Camel) says
Then send it straight to FOS. You are unlikely to win for the first few but may win for loan 4 and are more likely to win for the last one.
Daniel says
Thanks Sara I’ve sent it to the fos , they just made me feel guilty with the I didn’t mention the gambling in my first affordability complaint and that as much as they sympathise they can’t be responsible for it . But thanks for your help and and advice it’s much appreciated.
Dominic says
Good morning,
Did any one else receive an e-mail from Fernovo, regarding a redress claim in August 2022. I completed the relevant sections and was told that payment would be made within 21 days, I emailed them in early September to get this response:
We are processing a large number of cases at the moment, and we need to follow a strict process to prevent errors.
We apologise if there is any delay; however, bear in mind that this is a voluntary redress exercise that we decided to put things right and we are doing our best to complete the refunds as soon as possible
There is no need to contact us again.
I still have not received redress regarding my account, as this is a voluntary redress as they say, is there anything that I can do?
Thanks
Sara (Debt Camel) says
if it was me I would say that I will be sending a complaint to the Ombudsman if you are not paid within 2 weeks.
Craig says
I got an offer of redress via a letter from them, totally out of the blue, and also had to chase them last week after 21 days. Got that same auto response back. Hopefully we’re not going to be left hanging on for weeks!
Jonny says
I got a letter off them in August and returned it straight away. I waited until early September after getting a further email and said I wanted the money within the timeframe quoted. They said they couldn’t do it but I said it wasn’t my problem – they shouldn’t quote timeframes if they cannot meet them. I ended up emailing the email address on the FCA website (I believe he’s the CEO) and then got the money within a couple of days.
In all honesty, I think they’ll go into Administration soon.
Sara (Debt Camel) says
The email on the FCA website is morisso.taieb@quidie.co.uk
Jonny says
Hi Sara, yup that’s the one who I contacted and I got an almost immediate response the morning after and the money that day.
As I say, my opinion is they have been forced to do this and, like in most cases, usually the compensation ends up making the business becoming insolvent. Perhaps they’re relying on loan repayments to fund the day to day business hence the delays. Who knows!
Craig says
I tried that email address above a few days ago to see if I’d get the same quick response, but nothing yet. Keeping my fingers crossed that I get a response soon and they’re not about to go down the drain!
Craig says
Almost another two weeks gone by since I chased them up and still nothing. Giving them another chaser today.
Sara (Debt Camel) says
send it to the Ombudsman!
Craig says
Success! Just got email to say refund has been processed and will hit my account in the next hour. £200, so not big money, but with Xmas just around the corner it will be welcomed!
Paul says
Thank you for this.
I have went through the same problem as others and have emailed today.
Gareth says
Hi everyone
I too got the letter from Fernovo back in the summer, I was very surprised by the offer to be honest. I did chase up with them as I hadn’t received the refund and got a generic response as others have said.
I did however receive the payment in September which was great. I hope everyone receives or has received their refund!
On a separate note I got the same offer of a refund from H&T, they actually refunded me within 7 days of me completing an online form.
Hakim says
Hello
This website is the best site to get advices and help to tackle the debt spiral. I want to thank you as I was able to have 4 loans written off and defaults removed.
I have just a question as I am trying to have a loan removed from quick quid but just been on their page and there are information about the administration I am unsure to understand.
So the question is as they have closed now is it possible to ask the loan to be removed? Or should I go through FOS or Transunion directly?
Sorry if the question is stupid 😅
Once again thanks for this site that really help me
Sara (Debt Camel) says
has this loan been repaid?
Lisa says
Hi Sara. Me and my partner took a joint loan out for £6000 and it’s due to finish in Aug next year. We were both heavy in debt at the time, I recently did a sars request and was shocked that we were both in debt up to £31,000 with every card and catalogue maxed out and only paying minimum payments. They still gave us the loan, even though they were adding another £14,000 to our increasing debt. 2 years after taking the loan out, I went on debt management plan with stepchange. This is included on my plan but my partners parents give us the money to make up the monthly payment to them, because they are very unsympathetic to deal with. Should I go down the irresponsible lending route with them?
Sara (Debt Camel) says
Who was the lender?
Lisa says
It was everyday loans we used. We had 3 mths were we paid less during covid and they extended the loan by an extra 4 mths aslo
Sara (Debt Camel) says
Lots of cases won against them – definitely make a complaint!
Also stop your partner’s parents paying them extra in the DMP – this just encourages them to be nasty to people in the hope of screwing more money out of some people! You are in a DMP, they can’t have money that you don’t have.
Lisa says
Thankyou so much for your advice, I will definitely now put a complaint in, they are just awful to deal with and prey on people’s desperation.
Lauren says
I just had a refund from Loans2Go. They rejected my claim so I had to refer to the FOS. They rejected the adjudicator’s response and I had to wait for an ombudsman. The ombudsman upheld my complaint. Tonight, I received £3300 into my account! Happy days.
Lisa says
That’s amazing, these sort of companies should be shut down. If I could turn back the clock, I’d have never have had the loan and contacted stepchange sooner.
Lou says
Hi All
I put in a claim against safety net 8 weeks ago today and I am due to receive a final response today as promised at the week mark. Quick overview of my situation. Had the account open since 2017 and borrowed over £37k with about £7k in interest trapped in the cycle of reborrowing due to interest fees to pay priority bills etc . Not a great situation. Anxiously waiting the outcome however have a feeling that I will have to go to the FOS. Wish me luck
Lou says
Hi Sara
I had put in a complaint to SNC which they have today rejected on the basis that is was affordable. In total I borrowed around £37k since 2017 and Re borrowed within hours to keep myself afloat as the have a CPA on my bank account. I feel so stupid for using this type of credit as I was so uneducated and silly a few years ago. I was a bit shocked that they completely disregarded my complaint having read so many success stories. sent to the FOS today and hoping for better outcome . I thought it was strange that they only quoted loans up to 2018 even though I had used them from 2017- aug 2022.
Sara (Debt Camel) says
Quite right to send that to the Ombudsman. Make the point about the start of the account to FOS – thats still easily within the last 6 years.
Marrnie says
Hi I really need help on whether the refund offered to me by Tappily is a good offer? I’ve had the account for nearly 3 years and i asked for a statement and the total amount I borrowed was £18,589. The interest added was £2300 apparently but I have paid off in total to date £18,683. The account is still open so I have a balance of £2,206. They wrote on the interest on the outstanding balance which was £501. So the outstanding balance minus interest is £1704. They then gave me a breakdown and said the out of the total amount I borrowed, the actual amount applied to funds borrowed was £16,884 and the interest they would be repaying me would be £1798 and including stat 8% interest and then minus a hmrc 20% reduction, the amount I’m due is £1948. But because I had still had the £1704 outstanding balance minus the interest they redressed that off the balance I had left and I am left with a refund of £242. Could someone help to see if this is correct? Because surely If the TOTAl amount I borrowed was £18.5k and £2300 of that was interest and I have repaid £18.6k back am I not due back the interest (£2300) and should they not completely wipe out the balance left? As it has already been repaid. I don’t understand the part of them saying the amount applied to funds borrowed (£16,884). Someone please help
Sara (Debt Camel) says
Are they offering a cash refund if 242?
Or what balance do they say you will still owe?
Marnie says
Yeah so the total amount they said they would refund is £1948. £1704 would clear the outstanding balance and then the 242 would be a cash refund. But does this seem low?
Michael says
Used template and sent to safety net October 11th, waiting to hear back
F says
Hi,
I closed my Safety Net account last year in 2021 – I made a complaint at the time for unaffordable lending but it was rejected. To be honest, I am not too bothered about a refund but I would like some clarity as to how this looks on my credit report. It’s listed as a credit card and not an unsecured loan – does this mean this won’t be viewed as negatively by mortgage providers?
Many thanks,
F
Sara (Debt Camel) says
A shame you didn’t send it to the Ombudsman, but it’s too late now.
Mortgage lenders don’t see the same report as you do.
But it shouldn’t be listed as a payday loan. And loans are no worse than credit cards.
i suggest you ask your broker about this,
Jimmy says
Hi Sara,
I had a pounds2pockets loan and the administrators upheld my complaint and told me it would be removed from my credit file, the debt had been with lantern and they are saying it’s a default and will still be on there for 6 years. Is this correct or should they be doing as the administrators said and removing the debt fully on my credit record? The balance is zero and showing fully satisfied but with a default on there.
Thanks
Sara (Debt Camel) says
It should be removed. Send Lantern a complaint by email and attach the info from the administrators. Send this to the Ombudsman if Lantern reject this.
Jimmy says
Okay thanks, I did think this. I’ve got onto them and they were adamant it would stay on for 6years then I asked to speak to manager and when the girl went to get the manager she came back to me and said it would be sent to the correct department to take a look at and I would hear back from them but no timeline. Should I go to Ombudsman now or leave it a while. I’m not needing it done ASAP as I’m working on other complaints also and won’t need my credit in good order for another year probably.
Thanks
Sara (Debt Camel) says
I suggest you send them a complaint in writing now. You can’t go to the Ombudsman until they have had 8 weeks to consider this.
Jimmy says
I actually sent a complaint to them about not removing it on the 4th of July this year. Along with the letter from administration saying it was to be removed so should I file this to the Ombudsman now even though today they said they would look at it again?
Thanks
Sara (Debt Camel) says
I suggest you reply to them that unless they agree to remove this, you will send this to the Ombudsman at the end of the month.
Louise says
Hi Sara
I have just put in an affordability complaint to Safetynet for borrowing over a 20 month period (January 2020 – August 2021)
Having gone back through my statements I have borrowed over 9k and paid back in excess of 10k :(
How do I work out what an appropriate refund would be? I can calculate the difference between monies borrowed and payments made but how do I work out the 8% interest when it is a rolling credit facility?
Any help would be much appreciated
Many Thanks
Sara (Debt Camel) says
so you haven’t owed them any money since 2021?
Louise says
Hi Sara
I ended up in so much debt with multiple lenders – I applied for breathing space and then entered a DRO agreement in November 2021.
The amount listed on the DRO for Safetynet was £723.13 owed (just to mention I was released from my DRO Moratorium period earlier this month and I was told not do anything with this until the period had passed)
Thanks, Louise
Sara (Debt Camel) says
ok so if you win the claim, SNC will deduct the balance left (after interest is removed, from any refund. this is still worth doing for you.
But that complicates the 8% calculation. I suggest you assume it won’t be a lot.
John says
wondering if anyone has had a case assigned to an adjudicator recently and if so when did you register the complaint? I’ve got 2 payday loans waiting for an adjudicator since the end of march, starting to get really frustrating, they keep sending me emails apologising but no sign of when these will be looked at
Ryan says
I have had a complaint for a payday loan waiting from the end of January. Got registered to an adjudicator last Friday. Hopefully not too much longer, but no harm in emailing them and asking for an update with your FOS reference numbers
John says
thanks for the reply, guess I could be atleast another 2 months then, no idea why they don’t assign some of these cases to adjudicators from other departments such as credit cards as they seem severely snowed under
Lloyd says
Hello – do you know the latest regards Piggy Bank Loans redress and if there is an imminent date for payout or how much in the £??
Kelly says
I’ve been checking the website daily and sending them emails. No update. Taking the mick now. Been three years since administrators took over. I’ll post on here if I hear anything.
Debbie says
Not heard a thing yet read their extension ends 5th December 2022 so we should hear something soon.
V says
I have been wondering this to! I emailed them months ago as it’s been years and they said they would be in touch. It’s a joke how long they take to wind everything down. Hopefully we have some news in the next week 🤦♀️
Debbie says
I’ve just received an email from piggy bank saying they have no date yet but it is drawing to a close.
John says
anyone know whatever happened to 24/7 moneybox? im sure I was due a small redress from them but pretty sure never got it
Kelly says
I have just been going through loans I’ve had. I made a complaint to My Jar in the past. They emailed me back in July saying that my loan was out of scope and too long ago. It was 2011.
Is this correct?
Shall I still take it to the ombudsman?
Sara (Debt Camel) says
It was wrong but Myjar are now in in late stage of administration and this is too late.
Craig says
Complained to Lending Stream in October about 19 loans. Didn’t uphold the complaint for loans 1-5, but are for the rest of them. Just over £1,100 refund on its way to me. Result!
Rob says
Just wanted to say in here that using the advice both from Sarah and others in this group I got an offer of redress today from SafetyNet, and it wouldn’t have been possible without all the tips and info from here, so big thank you to all.
Rhiannan says
Hi Sara,
I’ve been told I think I have a case here but I’m not sure.
I borrowed money from Tappily (SafteyNet) August 2021 and have never been able to pay it off. Everytime I’ve paid an amount back I’ve re-borrowed it so I can pay for things like food etc, now they’ve stopped letting me borrow which has left me completely in the lurch. Do you think I have a case?
Sara (Debt Camel) says
Yes. Send them a complaint and send it to the Finacial Ombudsman if they reject it or don’t reply within 8 weeks.
Michael Horn says
I sent safetynet a complaint email 11/10/22 and they said they had till 06/12/22 to resolve it, however they have said they need more time and I can take it further?
Sara (Debt Camel) says
Send this straight to the Ombudsman.
Mike says
I’ve had a settlement offer from Moneyboat – when I gave them my bank details it said it would be up to 5 working days before I received it. That was nearly 4 weeks ago and I’m getting no response from them when I ask about when I’ll receive it. Should I be worried and do I have any recourse if they don’t pay it?
Thanks!
Sara (Debt Camel) says
I suggest you tell them if it isn’t paid by the end of the week, you will be sending the case to the Financial Ombudsman.
Mike says
Thanks Sara. Can I do that even though I’ve accepted their full and final offer? Appreciate your advice.
Sara (Debt Camel) says
yes if they are haven’t paid you in 28 days (this isn’t actually written down anywhere, but FOS is likely to think its reasonable)
Debbie says
Has anyone heard anything yet from piggy bank
tony says
Still waiting, surely there is an update somewhere ?
Matt says
The last administrators report from July 2022 is available on Companies House. From my basic understanding they have set aside £600k for unsecured creditors, but charged £460k against this already as costs of reviewing redress claims. They do say they are likely to pay out an amount to unsecured creditors, but can’t imagine it’s going to be very much and quite why it has taken over 3 years to get here is anyone’s guess.
tony says
Might as well forget about it then ☹️
Rachael says
Hi there, I was wondering if anyone might be able to help, if used the great resources on this site to get a refund from quickquid a good few years back, and today I saw an ad about lending stream and it popped into my head that I had started the same process with them. According to my email, after given them additional info, they were looking into my claim and had given me a reference number…. That was the last I’d heard from them it seems, and that was 2018!
Is it too late to try and get a claim from them?
Sara (Debt Camel) says
If they replied to your claim, then it is now too late to take this further. If they didn’t reply, then you can send this to the Ombudsman.
James Dean says
How does the claim work if the debt is sold on.
Lending atream have got back to me with loan details of all loans taken byt have said one of the loans the biggest one was sold on so havent provide related account details. They have it down as 870. The new collector has it as 1705 which i paid 408 of to since. How does the process of accepting a claim, removing interest etc apply if they no longer have the loan?
Sara (Debt Camel) says
How many loans did you have from LS? Hove they replied to your complaint or only sent the list of loans so far?
JD says
Hi Sara,
5 loans with them.
4 paid off early as I paid them just so I could take another amount, back to back started of with 1 then 2 then 3 then 4 then paid all for to take the large 5th 1. I couldnt afford the loans so i would pay them just to continue a new loan that way i would have more free funds there and then even if it meant i was snowballed in debt and paying more interest overall. I started with Sunny loans doing this. Couldnt keep up added lending stream and safety net so it was bad enough them accepting me it snowballed me in debt all 3 of them accepting me. During this period i was doing the same with Sunny loans and Safety net all at the same time. By Dec I could no longer manage this as I kept taking more and more until i could no longer meet payments or pay in full to retake another new loan. With Lending stream it was as follows.
200 14 Sep 2017
300 on 14 Nov 17
200 on 9 Dec 17
90 on 11 Dec 17
840 on 27 Dec 17.
When I realised I had 4 separate loans I could not afford I paid them in ful to consolidate them in to 1.
Total interest I paid to date is about 840 over 4 years. They passed this to ACI who gave me a ccj. I have not recieved a final response from lending strean but ACI have sent me an email saying gains recalled the debt.
I already requested lending stream set the ccj aside in my initial complaint but wanted to know if this was possible with an accepted complaint. Weird debt this 1. I lended with lending stream. ACi took over said they mastered. TMLS took me to court for ccj. ccj says perch capital. i think gains llc perch and lstream are all the same ppl. ACI saying gains recalled the loan i cant tell if there all the same ppl or not.
Sara (Debt Camel) says
I have put the bit about LS that was on a different thread at the bottom of your comment here.
Gain Credit is the name of the lender – Lending Stream is just a brand name.
So far as I know there is no connection between Gain Credit and ACI
Well I would hope they refund the last large loan. If not, send this to the Ombudsman.
John says
hello, quick question, got a response today from an adjudicator from a loan I complained about way back in march, he says this company are offering me a refund but need to keep 20% for tax, is this correct? does it make a difference if I’m currently unemployed and in the 0% income tax bracket? this is what he said below
• refund the interest you have paid for loans 4 and 5 as well as 50% of the interest of loan 3 which amounts to £71.49.
• contact the credit reference agencies to erase all your loans from your credit file.
Quidie Limited has confirmed to me that this offer is still valid and have also said that they are willing to pay an extra 8% simple interest on this amount. 20% of this will have to be withheld for tax, as Her Majesty’s Revenue and Customs (HMRC) tell them they must do this.
Sara (Debt Camel) says
The 20% tax deduction is normal, it’s only on the 8% simple interest nit the refund. You can claim this back from HMRC see https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
Is the offer ok?
John says
the offer is pretty terrible tbh, over all the loans combined I paid roughly £285 in interest. The adjudicator says the following below so it looks like it would be tough to get him to change his mind or have an ombudsman rule differently
“To summarise, I feel Quidie Limited’s offer, is fair and reasonable and if I were to uphold this case following an assessment with no offer made, I would not be able to reach a better outcome for you and would not be able to better their offer.”
John says
guess ill probs just have to accept it as its better than nothing
Sara (Debt Camel) says
So these were either very small loans or they were repaid very quickly?
Was the first loan much the largest?
John says
it was 5 loans total, all used for gambling, 4 of which were paid back relatively fast. The amounts of the loans were in the following order £100, £300, £200, £249 and finally £200 so small amounts.
the 2nd loan was the largest and took me the longest to repay, I ended up paying £195 in interest and fees on that one alone. They’ve offered to refund the interest I paid for loans 4 and 5 as well as 50% of the interest of loan 3 which amounts to £71.49 total.
The adjudicator says he doesn’t think its fair for loans 1-3 to be refunded which is a pain because the interest for loan 2 was so big
Sara (Debt Camel) says
Those are small loans, it’s unlikely an Ombudsman would say to refund loan 2.
Rob M says
Has anyone had a successful claim against safetynet? Just wondering as I recently had a complaint upheld and was offered a redress payment. However the date, and 2 subsequent ones for them to pay me the money have now passed, and was wondering if anyone else had this issue with delayed payment. I have just sent them a final email outlining my position and that if they dont get the money to me this week the next communication will be from my solicitor as I will be lodging a money claim at the County Court as the redress amount isn’t a trivial sum.
Sara (Debt Camel) says
the complaint was upheld by Safetynet? or via the Ombudsman?
RobM says
Ombudsman upheld after safetynet delayed for months coming to a decision.
Mike_p says
It looks like they are going under:
https://news.sky.com/story/safetynet-credit-parent-close-to-collapse-after-fca-crackdown-12780400
RobM says
Just seen all of this, waiting for a reply from them on it but imagine it will be clear as mud. I’ll not hold my breath.
Sara (Debt Camel) says
and they went into administration on 9 January, see https://debtcamel.co.uk/safetynet-credit-administration/. All comments on that new page please.
Jonny says
Has anyone had any dealings with Dot Dot Loans recently? I remember taking a few loans from them and I have repayments from my bank account from November 2017 to January 2020. I was unable to log in to my account and subsequent password requests online still resulted in no emails. I called them and they said they had no accounts under either of my email address’. They’re saying I cannot make a complaint if I’ve had no loans but I have multiple screenshots showing the amounts leaving my account and the narrative on the bank statement is “Dot Dot Loans”. Both representatives I’ve spoke to haven’t been awfully helpful and even one said it would have been under their former brand (Wageday Advance) and that Dot Dot weren’t around until 2019. Their website clearly says 2017 and my bank statements say different. I’m 100% certain I’ve had loans from them and even remember taking them but have no email correspondence. Is this a straight to the FOS and let them work it out with them? I’m aware Shelby Finance, who own Dot Dot, are apparently going to go into Admin soon so I’ll probably see nothing either way and this could be a stalling tactic.. thanks in advance.
Sara (Debt Camel) says
Wageday advance was bought by Morses out of administration in 2019. If your loans said Dot Dot before that, then they were NOT Wageday Advance loans.
It doesn’t sound as though you have yet made a complaint. It’s worth persevering to get one registered with Morses/Shelby?Dot Dot as if you send it to the Ombudsman now, then will just ask Morses to reply.
So email customerservices@dotdotloans.co.uk and customerservices@shelbyfinance.com and copy it to ricky.essex@morsesclub.com
List the loans you can see you had from your bank statements – loan date, amount, repayments. Attach copies of your bank statements.
Ask for a refund or you will be sending this to the Ombudsman.
They are not yet near administration so the Ombudsman will take this case.
Also check your credit reports to see if the old loans show up on there. See https://debtcamel.co.uk/best-way-to-check-credit-score/ which explains how to do this for free.
Raul says
Hello, I’ve sent a complaint to Moneyboat for bad lending for giving me a £500 loan shortly after my IVA with a 50% increase after 3 months. Totalling around £750. I completed my IVA early over a year ago and this was the response from moneyboat.
“As well, you have mentioned an IVA; although you say this has been completed, I need to consider if we require something from the Insolvency Practitioner who dealt with this to say if they have any interest the the case and any potential redress. So, please let me have details of that (ref/start/end dates) and provide a copy of the letter of completion. ”
Is this something I should worry about?
Sara (Debt Camel) says
As the article above says If your IVA has finished the refund may still be sent to your old IVA firm
Raul says
Would rather it be with the IVA firm rather than them to be honest.
The loan was taken out after I had completed the IVA. My question being will anything bad be able to be done in regards to gambling after my IVA. Just not interested in getting in trouble for a refund.
Sara (Debt Camel) says
You said the loan was taken shortly after your IVA – I asssumed that meant after the IVA started.
if the loan was after your IVA was completed, then you should get the whole refund.
HB says
Hi all – Is anybody waiting for Gain Credit (Drafty) outcome with FCA? Drafty accepted wrong doing and said they would refund £550 but after working out everything the expected figure came to c£1600. Declined offer and case went to ombudsman who have said they are in contact with Gain Credit (Drafty) about all of the cases with them, not just mine, as they need to thrash out a set outcome for all complaints. Have been waiting ages now and just wondered if anybody was in same position or heard anything.
Sara (Debt Camel) says
I don’t remember this being mentioned.
Sara (Debt Camel) says
You may be interested in this new thread where Drafty seem to me to have calculated a refund much too low…
https://debtcamel.co.uk/refunds-catalogue-credit-card/comment-page-38/#comment-499943
L says
I’ve been waiting for a response from the FOS since 23rd September for a complaint against Drafty too. FOS have confirmed they have a lot of correspondence for my complaint but the FOS haven’t assigned a case handler yet. They were saying upto 4 months but now it’s 5-9 months
RobM says
Having read all the news coming out today about safetynet going bust what do you think are the possibilities of those people who are owed refunds actually getting them. I was awarded redress from them 08/12/22 and they kept delaying the payment, and it would now seem as if this is the reason, I’m guessing they don’t actually have the money to pay out.
Sara (Debt Camel) says
Sorry it’s too early to say. That Sky story wasn’t clear and we have no idea what will happen. I don’t think they have been lending for a while so they may actually have quite a lot of money in the bank.
Chrisy says
I have had about £700 worth of credit with safety net for the past few years, I can’t seem to get out of it, whenever I pay some off I need to get it out again by the end of the month. I also took out a Drafty to help I am paying that off every month but it feels like it’s hardly going down. I would like to get a mortgage and I’m afraid that these will stop me being able to do that. Has anyone had any luck with safety net or Drafty?
Sara (Debt Camel) says
These are very expensive debts, easy to get into and hard to get out of. What other debt to you have – cards, loans, overdraft?
If you are hoping for a mortgage do you have savings?
Sara (Debt Camel) says
Safetynet credit was one of the easiest lender to win a complaint against but it has now just gone into administration – see https://debtcamel.co.uk/safetynet-credit-administration/
Christina says
I have an overdraft of about £500 and a loan of about £3000 I have never missed a payment on my loan. My partner has the deposit sorted, I’m just really worrying I’m gonna stop us getting a mortgage. If I could get these debts paid off it would help so much.
Sara (Debt Camel) says
is the loan at a reasonable level? Could your partner clear the Safetynet credit and drafty debts?
You can also make affordabity complaints, I’m not saying don’t. Loads of wins against Safeteynet Credit, however rumour is that they may be going insolvent soon. This is a reason to complain NOW, not to give up.
Less chat about Drafty as they are a much smaller lender but cases are being won.
But depending on the timescale you want for the mortgage, it may be better to clear the debts now. This will not stop you making a complaint.
Michael Horn says
Heads up guys and girls safety net is in admin as of today
Sara (Debt Camel) says
yes, article coming on the implications later today
RobM says
I’ve just gotten off the phone with them to challange as to why for the last two weeks they’ve made excuse after excuse up as to why I hadn’t been paid money they owe me, when I repeatedly asked if it was to do with impending insolvency and all I got was a load of bumf about how they didn’t know any of this until this morning either… Strange that when the news broke last week. Oh well time will tell now and I look forward to my pence in the pound fraction of what they owe me at some point in 2025 no doubt.
Jonny says
They’re a disgrace and the FCA should hang their head in shame.
FCA are allowing them to continue to lend to existing customers without an overdue balance yet the Administrators at the very same time are advising unsecured creditors are likely to get NOTHING. That would insinuate funds are low.
I understand this will be so that they can attempt to sell healthy parts of the business, if there’s even any, but it’s a slap in the face from the FCA. And no, I’m not owed any money!
Sara (Debt Camel) says
see new article – it’s bad news for refunds https://debtcamel.co.uk/safetynet-credit-administration/
All comments on that article please, not here.