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?
Kris says
I have to say this site has given me a chance in my opinion for the first time. I used payday loans as a way to get by day to day, I juggled them and never believed I would find a way out but I have realised never to use them again and have had refunds from qq, p-advance, wda and now have many more in advance stages including swift sterling and many others.
thanks to all the comments on this site it has opened my eyes to the way these company’s work and have ruined many peoples life’s including mine. So anyone reading this do claim. Hounistly couldn’t have done this with out you thanks
Hayley says
I had my final response from the cheque centre yesterday offering me £290 for 1 of the 6 loans I had with them according to them they did the proper affordability checks and because I paid the loans back and did not tell them I was in financial difficulties the other 5 loans have been rejected, but as soon as i paid the loan back i got another loan with them straight away just to pay my rent and other bills and this happened every time I borrowed with them, does anyone know what to do next? I am already with the FOS.
Sara (Debt Camel) says
Hi Hayley, I suggest you email the FOS and say the lender has made you an offer but you want to proceed with your complaint. You don’t feel the offer is adequate because they should have known the loans were unaffordable because of your history of re-borrowing the same day.
If you want you can also go back to the Cheque Centre and say that offer isn’t adequate, explain why and suggest what you would accept. A couple of people here have got them to increase their offer by negotiation.
Steve says
Hi all,
Thought would give an update as to where I am in the cycle.
QuickQuid – Took out 8 loans between 2010-2012, although many rolled over etc. Complained on 31st March, they came back within 7 weeks with Final Offer of recalling and writing off my balance but would not be willing to remove any credit file entries so the default would stand. Naturally referred to FOS, and adjudicator upheld the complaint and I got back £2800 including interest. Overall despite the experience of the majority of others, this was my easiest/quickest claim out of all of them
MyJar – Had a total of 54loans over 4 years resulting in paying just over £4k interest on all loans. Complained 4th April, didn’t hear for 8 weeks so chased them up. They claimed they sent final offer on 27th April but I never got it but the offer was for £1021 plus interest. I submitted a counter offer but never heard anything back so escalated to FOS. Adjudicator upheld my complaint but also included a few extra loans. MyJar failed to respond so was escalated to Ombudsman and yesterday the final decision was made inline with the adjudicator so am set to get £5k including interest back!
Wonga – had 24 loans over 4 years. Complained on 14th April, got the usual at 8 weeks asking for a further 6 weeks so referred it to FOS. Due to an admin error at FOS, the complaint was delayed in being allocated but the adjudicator upheld my complaint on all but the first few. Gave Wonga 2 weeks to respond and after 1 week Wonga requested a 4 week extension. Adjudicator has today been in touch to say Wonga have accepted the decision so will get back just over £4.5k
PDUK – By far the most awkward to deal with. Tried numerous time to get a Statement of Account but had no luck so complained on 8th May. Got final response back 30th June denying any wrong doing so again referred to FOS. Despite numerous attempts by adjudicator and myself to get a statement of account, PDUK refused point blank stating they are under no legal obligation to provide that information. Following threats of FCA involvement, another adjudicator was allocated to the case and PDUK suddenly produced the statement of account, 6months after originally requesting it. Can see this one dragging out!
1monthloan – was not aware had borrowed from these until was going through bank statements for the others. Their final offer was just short of £500 which I accepted as was equal to all the interest I had ever paid them from what I could work out.
So in total, will have had over £12k back with potentially at least another £3.5k to come from PDUK, all thanks to this site!
Marie80 says
Hi Steve,
Big congrats for fighting with all of the pay day lenders.
When you say QQ said they would write off your current balance, did they said they were writing it off or they were awarding you compensation which meant the loan would be written off?
I ask because Wonga have finally given me an offer, out of 41 loans I took out with them over 4 years they are saying only 6 were unaffordable and will award me £997, but as I owe them £1400 they’re saying that will pay off my existing balance and I’ll still have £400 to pay off.
I have sent this to the FOS but they are taking along time to sort out. Do you think it’s reasonable to ask for the loan to be written off entirely as well as being award £997 and for them to investigate the remaining 35 loans I took out with them?
Thanks
Marie
Sara (Debt Camel) says
Hi Marie, this sounds as though it may be one of Wonga’s random offers, where it’s hard to tell why they picked those particular six loans to offer a refund on. many people with these offers have gone on to get most of their loans refunded by rejecting the offer and letting the Ombudsman decide.
It is normal for any refund to be used first to settle an outstanding balance. I have looked at some examples here https://debtcamel.co.uk/payday-lender-write-off/. But for you, with such a large number of loans before the one you defaulted on, I would expect the end result to be a refund and the balance to be written off.
If you have a list of your loans and what you paid to each, the best thing is for you to:
1) add up all the interest and charges you repaid on the loans excluding the last one. This is the amount you paid Wonga less the amount that you borrowed.
2) work out how much (if anything ) you have paid towards the last loan, and how how much you borrowed.
If you can get those figures, they will let you assess how reasonable this offer is.
Frank says
Hi guys – I have the ombudsman final decision for payday uk – i sent it back to my adjudicator saying I accept. Not sure of the refund – since payday uk haven’t replied to me or anyone, but it’s a refund of all interest and charges, I had ten loans ranging from 150 – 350 so I’m expecting atleast 500.
Emilia says
Hi. a success with Provident! They rejected my complaint, sent to FOS, now they agreed with adjudicator’s suggestion and they going to refund all interest and charges from my last three loans.
Dan says
Hi all,
The ombudsman has agreed with my adjudicator with my peachy complaint and said they need to refund all interest and charges. Has anyone had a refund from peachy if so how long are they taking to pay out once the ombudsman say so?
Jimmy says
Hi Dan,
I had the same. I was paid within 5 days of sending the signed form back. I sent my bank details to my adjudicator who sent them on. Peachy emailed me a day or 2 after to say they would pay and it would take 2-3 working days.
regards
Jimmy
Jim says
Just want to add my story as it’s great to see so many people getting money back which was obtained through irresponsible lending. I’m sure most of the people who were / are in our shoes know the depression, anxiety, fear, shame, and pain that comes with being in the vicious spiral of payday debt. There certainly comes a feeling of justice served knowing the CEOs of these companies are watching their house of cards being dismantled by the ombudsman.
I had nearly 100 loans from 11 companies from 2009 – 2014. All of the big names — QQ, Wonga, PDUK, and lots of the smaller players like WDA and the notorious SpeedCredit. To keep a long story short — I received a little over 8K back from QQ, over 2k back from Wonga, over 2k back from PDUK, over 1k back from Lending Stream, and others totalling close to 15k including interest the Ombudsman instructed them to pay. The main one I couldn’t claim from was OpenDoorLoan because they went into administration and have been dismantled. I now look at this time as investing in a high-interest savings account — although it certainly wasn’t worth the suffering, it provides some comfort. It took me, overall, about a year to reach the end of all of these cases, and it was worth it.
Some tips for those who are starting the process:
What really helped me, before I went after them, was to create a spreadsheet, or document, of all of the loans. I spent a weekend doing this, going through all emails over five years old, documenting loan numbers, payments, dates. This was by far the hardest part as it brought back all the memories and pain, and also hit me right in the face with how much I had gotten into debt, and far how long. It’s not easy, it’s not fun, but it was worth it. As debt camel mentions, you can also request a statement of accounts which is easier, but some loan companies won’t easily or quickly provide this, so I found it better just to do it on my own. I also provided this with every case with the FOS I opened, and I like to think it helped them visualise how serious my debt problem was — it’s hard to look at it and not realise that these companies are savages, enslaving people by debt.
Then it’s just hammering away at the companies. Make a separate email folder for the communications, and have your email copy you on any outgoing emails so you always have a record of what you sent. Some of them reply back with what seems like a convincing argument, but it’s all tactics they try to use. They may offer you a small sum (and note that they are charged by the ombudsman something like £400 if a case is referred so they have nothing lose by offering you this).
Some of the adjudicators can get it wrong, so if you feel that you should be paid back more, you should ask that the case is sent to the ombudsman. They are usually good, but may just not have the experience to make an objective call so don’t feel like you are hurting your case by asking to have an ombudsman review — that’s one of the things they are there for.
DON’T GIVE UP. If you ever feel like you should quit, it’s too much effort, it was your fault, or anything that may make you stop pursuing this — just carry on. Remember, these companies are ultimately preying on the vulnerable — those of us that may have had a weakness at one point in our lives. They exploited that small weakness and got us into a position that would bind us to them until we finally said enough — and for what? so that they could get their logo on a football team? give bonuses to their execs? buy new cars while we suffered? No, now is your time to have your say, with the backing of a government appointed body.
Lastly, when you win, and depending on your circumstances, treat yourself — you deserve it. Even if it is a delicious takeaway, do it. For me — I spent 5K of my money on a trip to Seychelles with the misses, and used the rest to pay off some other old debt, and tucked away a lot in savings. You circumstances may be different and you certainly prioritise, but I still think anyone who has been through this should get themselves a gift, even if it’s a new plant for the home to remind you of what it feels like to win.
claire says
super Post Jim I just went to the FOS today this encouraged me to keep going and pursuing them.
Sam says
Just thought I would update as payday uk and express apologised on Friday that they haven’t replied and promised to contact the ombudsman that day. Surprise surprise my adjudicator got back to me today and said he hasn’t heard from them! Anyway my adjudicator said in the email he expects the ombudsman to issue a final decision this week, it was put in the queue for the ombudsman on 12th September so just thought I would share timescales as if it is this week then it will have only taken 3 weeks to get a decision which I think is remarkably fast.
aga says
hello ,
and another surprise , my adjuducator came back to me with an offer from Payday Express, over 800 pounds ( for loans 2012-13 ? but it does not include 8 % statutory and loan from 2015 , it a big step forward … as they responded do adjudicator
Nigel says
Sara
Moneybox 247. They have been an absolute nightmare to try and communicate with. The complaint has now gone to the FOS but the original complaint was put in mid June. The have never given me the information I asked for, like my full loan history and rollovers and deferrals. They sent me one example of a loan I requested this year.
I would like to know how successful people have been with claiming from Moneybox 247. Dreadful company to use.
Ian says
I agree absolute jokers. They offered me as a gesture of goodwill to remove entries and write off baance when I had only requested statements. When I put in formal complaint they sent the exact same email!!
I asked them if that was their Final Response and they said no they would issue that within the 8 weeks. For the next 8 weeks I received no response until 2 days before deadline when they emailed asking if I had lied on application and falsified application. On 8 weeks I referred to FOS.
4 weeks later after no other communication I got an email offering me £200. I rejected but said I was open to negotiaition. They then did not respond to me for 2 months!
The adjudicator found in my favour and escalated to Ombudsman after 3 weks of no response.
1 month later the Ombudsman agreed with Adjudictor.
I contacted 247 to give bank details and asked when they would be making payement. They said within 28 days. I’m on about day 18 now and still nothing.
Would like to know if I can go for more compensation if they do not adhere to Ombudsman ruling.
Sara (Debt Camel) says
If they don’t adhere to the Ombudsman’s ruling you can take them to court … There is a special procedure for this, they don’t get another chance to fight the case or delay, it’s just a way for you to be able to enforce the amount you are owed by sending in the bailiffs :)
I hope you have calculated how much you should get?
Ian says
It’s not a massive amount as there was an outstanding balance write off but with Stat 8% it will be circa £800.
Nigel says
I think mine would be £8000 in interest, but as they have never let me no the full extent of the loans I dont know for sure. My adjudicator has all six years worth of statements.
Garry says
Adjudicator had ruled in my favour with QQ.
I assumed this would proceed to an ombudsman for a final outcome.
I have then received a call to say that should I wish this to proceed, then it will go on hold due to the current on going investigation into accounts more than 6 years old.
I tried to explain that I am willing to dismiss my accounts more than 6 years ago and proceed with the findings of the ombudsman, but apparently this is not an option.
Its basically a choice between accepting QQ’s inital offer or waiting weeks or possibly months on an uotcome of this 6 year rule.
I assume loads more folk are in the same boat, or can i request and ombudsman decision on accounts within the last 6 years?
Just want this resolved after months and dont fancy the prospect of waiting however long it takes for a decision on this.
ID says
Second success, MyJar £700 after putting in a complaint to them less than 1 week ago. I only paid £900 interest so very happy to settle without any need to go to the ombudsman. What I would say is haggle, originally they offered me £300 but I went back to them and said why I think I am entitled to more.
Steve says
With MyJar, they offered me £1024 as a final offer. I made a counter offer of £2000 which they declined so went to FOS and adjudicator upheld the complaint, but MyJar failed to respond so went to Ombudsman and I’ve now got £5k coming back!
Sam says
Has anyone had much luck with lending stream? They rejected my complaint and then the fos have upheld the rejection saying they haven’t found wrong doing even though at one point I had four loans at the same time with them and the fos also said that my loans were all paid on time which is I fact untrue as I had to extend two of them as I couldn’t afford them and explained to lending stream that the loans were killing me I still have this email and their response wonga have settled without fos as have sunny all for similar time periods fos have my bank statements and credit file and a covering letter so I’m confused
This was an adjudicator decision I have asked for it to be escalated to the ombudsman surely it can’t be responsible lending to have four loans at one go
Bill says
This is where I am with LS at the moment. I’ve asked the adjudicator to escalate to an ombudsman and an waiting to see what the final outcome is.
Claire says
Well. Happy days. The Ombudsman has seen in my favour and agreed that my complaint against Uncle Buck should be upheld. Does anybody have any experience of how long Uncle Buck usually take to settle a refund? Do they usually drag it out for the full 28 days? Thanks
Pedro says
Hello my friends. The ombudsman has ruled in my favor for my pduk case. I have completed the form and email it back. Does anyone have any experience with them? I rang them to give my bank details and the lady said they have 4 weeks to pay – is it usually faster?
Ben says
Just signed my final decision acceptance form and it’s been sent to Quick Quid. Does anyone know or have any experience of how quickly they pay out?
Timescales so far: it was passed to an ombudsman who took three weeks to look at the case. The ombudsman then gave a preliminary decision and gave QQ a month to reply. On day 30 they replied with nothing to add. It then took another 2 weeks to get the final decision through. QQ now have 30 days to cough up around £6800 to me. Hopefully they won’t take the full 30 days to pay up!
Jack says
I’ve had PDUK accept a refund that has been calculated – can anyone tell me how quickly they transfer it? Is it same day? I got their email this morning asking for bank details. Thanks.
Sarah says
Mine took about 3 days and Wonga took 3 days as well. Mr Lender took 24 hours from letter, to decision to payment.
Just waiting on the decision from the adjudicator for QuickQuid but he’s off on leave until next week.
laura says
Hi all how long after you accepted the ombudsman’s final decision did MR LENDER pay out ? , did they dig their heels in or was it quite quick ? any info would be fab! , cheers guys n’ gals x x
Liam says
Hi Laura,
I left it a week and then contacted Mr Lender to ask how long it would take, they emailed me back the next day to say they had processed the refund and it was in my account the day after.
In total 9 days after the agreed with the adjudicator
Dominika says
Hi maybe someone have experience with WDA how long do they take after final decision from ombdusman to make payment ??
Regards
Thomas says
Here’s my timeline:
May 20 – adjudicator started to investigate my complaint about WDA
June 16 – adjudicator recommended that WDA refund all my interest
July 6 – WDA disagreed with my adjudicator and asked her to re-assess the complaint
July 13 – adjudicator re-assessed but didn’t change her mind
July 20 – WDA gave in and agreed with her decision
Aug 5 – the refund suddenly appeared in my account without any prior notice
Hope this helps.
Matt S says
Hi all,
Just looking for some advise on how I should now proceed with Payday Express. Ombudsman ruled in my favour last Thursday after they never responded to adjudicator. Final binding decision has now been passed on to the business and they have been asked to contact me. However I know from experience how slow they are. I prefer to do all my contact via email as I’m not overly confident on the phone, I did email them on Friday however from past experience it’ll probably take them weeks to respond.
How have other people dealt with this situation with Payday Express? Do they tend to respond quicker after an Ombudsmans decision? Is it best to just bite the bullet and call them? Or do you reckon they will respond to my email?
Thanks
Sam says
I got my final decision from the ombudsman on Tuesday and replied accepting and with my bank details the same day and I have in the last 10 minutes received the calculation so you won’t be waiting too long, they said they pay by faster payments so should be in today,
James says
Good afternoon,
Got some information back from QuickQuid thats i’d like some help with.
First loan £200 taken out Jan 2009 rolled over 5 times before settling fully. £312 interest and charges and £200 principal sum.
Second loan £300 taken out July 2009 (5 days after settling 1st loan). £82 interest and charges and £300 principal sum.
Third loan £300 taken September 2009 (6 days after settling 2nd loan) rolled over twice before defaulting in November 2009. Paid £150 in interest leaving £387 to pay. (£87 in interest and charges and £300 principal sum)
Third loan was later sold to PRA Group and despite coming off my credit file due to age is still being paid off monthly @ £5 per month.
How do I calculate what to claim for and how do I do this considering my outstanding balance?
Also, the debt is now with another company – does this make things difficult?
Quick Quid did say they wouldn’t consider a complaint because my loans are over 6 years old. I wondered whether this is in fact true or just a scare tactic? I’m sure the fact the debt is still outstanding makes things still stand.
Any help would be greatly appreciated.
James
Sara (Debt Camel) says
At the moment the Ombudsman is trying to decide if they can look at loans that are over 6 years old. Any cases are “on hold” whilst they make a decision. It is the Ombudsman’s decision to make, not QQ’s, so I suggest putting in your complaint to the Ombudsman now so you get into the queue for when the decision is made.
What is the current balance on the last loan? I assume they didn’t add any more interest or charges after the £387 point?
James says
Current balance is £242 with PRA Group. No further interest or charges. This is being paid off @ £5 per month.
So do I just put a claim into the Ombudsman straight away for the £544 (I’m assuming I don’t claim for the £87 interest that was defaulted)
How do i calculate the 8% interest. Is it compounded or just 6 lots (years) of 8%?
Cheers
James
Sara (Debt Camel) says
OK first you do not need to say how much you are putting in a claim form. You can just say you are complaining because you were given unaffordable loans and you would like a refund of interest paid.
But it is a good idea to have a rough idea of the maximum you could get and what is likely.
For the first loan you paid £312 in interest and for the second £82. For the last loan you have paid £150 and (387-242) = £145. So £295 in all – pretty much exactly what you borrowed if all interest was removed. The maximum you would get then would be a refund of 312+82 = £394 plus 8% simple interest, this is not compounded, and for the balance on the last loan to be written off.
In practice on this sort of case you rarely get the maximum. The Ombudsman may often say the first loan was affordable but after you rolled it 5 times and then wanted to borrow more immediately, the lender should have refused your second loan. So a “likely” offer is £82 plus 8% and the last loan written off.
Suzy says
Sara ( debt camel ) put in complaint to adjudicator 1 st May about quick quid had 2 further offers £1700 and £2200 I payed £4000 interest alone adjudicator upheld my complaint quick quid disagreed and asked for bank statements they found a few things to have a pick at it then went to a different adjudicator who looked at case and told quick quid there decision still stands they gave quick quid 1 week to reply which they never replied adjudicator just informed me she has now passed it on to ombudsman how much longer will this go on should I have taken 2nd offer even though adjudicator upheld it and asked for all loans plus 8 per cent flat interest to be refunded
Sara (Debt Camel) says
Should you have taken the an offer of £2,200 when the adjudicator things you should get £4000 plus interest? Well it’s your decision, but that seems a lot of money at stake for just waiting a bit longer.
It sounds as though QQ have already objected and made their points, so hopefully this will go through the Ombudsman stage pretty quickly and you will end up with a good result.
Matt S says
Perhaps finally looking at progress with PDUK and Payday Express. My adjudicator advised me today that the Ombudsman is in the process of writing their final decision for both of my complaints and that I should hear shortly. Not sure if that means i’ll hear today or in the next few days but at least its something. Will be refreshing my emails every few minutes and hoping for some good news.
Sam says
My adjudicator said that to me yesterday and I received my final response in the post today agreeing with the adjudicator. Apparently payday express replied yesterday agreeing anyway
Jaqueline says
Hi I received my final response from Wonga which stated that whilst they wrote off my last loan under their affordability / criteria rules none of my other loans met that criteria – also some of my loans are over the 6 years so they don’t gave to look into those.
I sent this to FOS and Adjudactor rang today. I really don’t think I’m going to win she did not give me any reason of hope – basically if the loans are over 6 years they agree the company won’t have details – my loans ran from 2010 4 months worth of loans are outside the 6 years the other 15 fall within 6 years – by the time the money advice team from my council intervened in my debts (part of help from mental health team) I was borrowing every month straight after I had paid them back, I borrowed the full amount of £1000 we were £43800 in debt in total that’s payday, normal loans and cards at the time the money help team got involved.
Anyway the lady at FOS has asked me for a credit file showing how much debt I’m in – bank statements for time I was having the loans and anything else that proves I was in debt at the time
My credit file just shows one of my debts now because too much time has passed since default and they have been removed so I can’t prove that way – there’s no way of getting a credit file for years ago
I have a couple of statements but I’m worried as on the statements my spending might look irresponsible really – I wasn’t paying my loans back too scared to try and deal with anything – having take aways etc – basically drowning in debt – my mental health at the time was very bad
I only went to Wonga as we needed a few hundred to help as my husband had had a car accident and we had to move no other lending source would touch us – that started then snowballing every month more and moreto pay interest back – I’m worried my statements won’t prove how bad it was and I don’t think I have them all
I’m just really down now – I felt that whilst being unbiased the FOS are steering more and more in Wonga favour
They also seemed to agree with Wonga that if the loans were unaffordable why didn’t I say at the time …………I explained that I was too scared worried what they would do – I never told anyone about my payday loans as I was embarrassed that there was a stigma about them – also if I stopped getting them how would I pay my rent etc it was a nasty vicious circle – only stopped when the Money Advice Team stepped in and helped
Sorry I’ve rambled what have others sent in to help their case – I feel like so far Wonga have not given any info to FOS but I’ve got to try and prove it – any advice on what to send would be great
Sara (Debt Camel) says
OK, there are a few different problems here, so let’s look at them.
First don’t be worried your adjudicator didn’t give you much reason to hope – we have had several people here say their adjudicator seemed really stern / strict but they got a good result!
You don’t think you have all your bank statements – the adjudicator can get any that are missing straight from your bank if you let them know the sort code and account number. I suspect that your bank statements will show exactly how much trouble you were in!
No, your credit file isn’t going to show problems before 6 years. So do you have any other paperwork that may refer to these. For example do you have a letter from the Money Advice Team listing your debts? Or talking about that your options were? Do you have any letters from creditors around this period or earlier, perhaps a default notice? In the end if you don’t have any of these it doesn’t much matter – 15 (or 21) loans in quick succession from the same lender tell their own story of someone being caught in the payday loan trap. Credit records just backs this up, but your bank statements should be enough.
If you were on any medication for depression or anxiety around this time, a letter from your GP confirming this could also help.
Jaqueline says
This is reassuring Sara – I didn’t think of any letters about health so will try and dig those out
I just look at the spending back then and realise a lot may be deemed as irresponsible but sadly that’s what state of mind I was in and I appreciate that a company can’t be responsible for me in a way
Thanks for reassurance and some good points much appreciated
Thomas says
My adjudicator was particularly strict – they wanted to know the details of practically every transaction on my year’s worth of bank statements. I had a lot of silly, extravagant spending, lots of bank transfers from borrowing and paying back friends, and an awful lot of gambling too. I didn’t think I stood a chance, as they were asking me questions almost on a daily basis (what was this payment for? why did you do that bank transfer? etc). Their tone wasn’t great either.
But I was honest when answering every question, and when they came to their decision they agreed that my lender should refund all charges and interest + 8% for 7 out of my 8 loans.
So it goes to show that you can never tell what the outcome will be until the decision is made, and when it feels like the result might end up being negative, it could actually turn out in your favour!
Franko says
Well had a mixed bag of results this week. Had case pending with PDUK, been with adjudicator for 3 weeks after no response from PDUK. After case was picked up adjudicator did not feel that the first loans i had been given were unaffordable (i had six in total with two top ups). Adjudicator stated that PDUK did proper checks for first 4 loans but when i got into some difficulty and informed PDUK about my issues, adjudicator decided that any other loans given after that were unaffordable (these were bigger loans).
Have been awarded £2700 including interest and got the last 2 loans wiped off my credit file (after sending off settelemnt form on Monday, i called PDUK to chase them + give my bank details and got all the money paid today). The money is great but was really looking to clear up my credit file and get them off it completely. The first four loans are still on my file ( they are from 2011). Decided to take the money and wait for them to drop off as I have a new baby on the way so needed the money really soon.
I guess you can’ t have it all. This is my second victory after Mr Lender paid out £1700 without ombudsman (all interest and charges paid back within 3 weeks of sending off complaint). Waiting on QQ which is with another adjudicator but more worryingly for me the same current PDUK adjudicator who looked into the PDUK case is also looking into my Wonga complaint and Moneyshop complaint. Feeling uneasy already about their decision
Gary says
I started to look into this and realised I have had payday loans over the last 5 years with 12 different lenders.
I emailed them all last night requesting statements of my loans.
Quick Quid have already emailed me today attaching statements.
It showed I had 3 loans that wrhere all rolled over the maximum 5 times before I had to start paying back a higher amount. The first loan was for £400 then after it rolled over 5 times they increased the loan to £1,050.
Will now send an email re affordability and see what happens. Fingers crossed as they have replied very quickly. Will see how long it takes the others to reply.
Gary says
Lending Stream have responded and confirmed I had 8 loans 6 were settled and 2 are outstanding.
They requested a £10 fee to disclose details of my loans and informed up to 40 days wait.
I replied as per advice on here stating it should be free.
This website is so helpful.
Any further advice welcome.
kg says
Hi Gary,
I just sent a complaint to lending stream stating my loans were unaffordable quoting information from my credit file. I then said in order to fully assess any response to this complaint i need to see the statement of accounts for all the loans I had. They litereally replied within 48 hours and issued a final response a week later. now just referred to the ombudsman and waiting for an adjudicator.
Regards
K
Nigel says
Sara
Can I ask what the success rate for QQ refunds is from Adjudicator decisions. What the highest refund payments have been?
I ask as My adjudicator has sent me the letter that he has sent to QQ asking for a refund on all interest on loans from July 2010 until now.
He sates at the end that it in extremely unlikely the Ombudsman would change anything about the outcome due the circumstances.
I estimated it around £13000 but that includes 11 loans before July 2010 the 89 loans in total and the way QQ operate is noted as 36. This all includes Flexiloan. Obviously any refunds would also have 8% attached.
So I am hopeful and I really don’t see what delaying tactics QQ would be able to actually use.
Garry says
Hi Nigel,
This may well go on hold similar to myself.
Likewise an adjudicator instructed them to refund interest & charges etc on loans within the last 6 years.
QQ disagreed with the decision which I assumed would go to an ombudsman, however due to the on going investigation into loans more than 6 years ago, i have been told all cases are on hold even if you are willing to dismiss the ones older than 6 years ago.
QQ may of course agree and pay up?
Very frustrating though as they say it could be weeks or months before a decision.
Nigel says
Hi Gary
I did instruct at the start that I was willing to dismiss the loans over 6 years. As they had originally told my adjudicator that they would not even discuss the loans as it was from 2008 to now. So we have got that one over with I’m sure.
claire says
Hi,
Just want some quick advice basically I feel wonga lent me loans irresponsibly got a final response today off them after 12 weeks…They wont uphold my claim but offered £75.00 because they state that ……which I assure u I didnt I stated earned £81,000 a month instead of £830 pm part time my wage slips can prive that abd statements…surly if I did earn £81,000 pw I wouldnt of needed Wonga thats for sure…so i’ve now sent it to the FOS do you think I will get a good outcome on this complaint has well has the other loans and Top ups I’ve complained about? Also when u apply for another loan I cant remember did u check ur income details all iver again??? So stressful . Thanks
Sara (Debt Camel) says
£81,000 per month – LOL I think the FOS will agree that Wonga should have queried that rather than assumed it was correct!
Wendy says
What a fantastic site,thank you for all your help, I have had an email from sunny who have said paying all my interest and the 8% just over 3 grand,as I don’t think they would offer anything,so I am buzzing with that offer. Another lender has given me just over 1500.
LS and QQ are with ombudsman,satsuma said no straight away,but I’m more than happy so far.
Lilly says
Hi Everyone,
Out of curiosity. I today had my adjudicator uphold my complaint with QQ. If i added things up correctly, I would be looking at getting back around £3,000 without any added interested.
He has sent his findings off to QQ today and has given them 2 – 3 weeks to reply.
Has anyone had QQ to agree at this stage? With going on to the Ombudsman, or does it always seem to get taken all the way now?
Thank you!
Sara (Debt Camel) says
Some people have had QQ accept adjudicator decisions. There seems to be a big random element to me, I can’t guess how they are making the decision.
There is more talk here about the cases that go to the Ombudsman level as they go on for longer so people post more – that doesn’t mean that complaints aren’t being settled earlier, just that they seem less visible.
Kelly says
Hi all,
MyJar have agreed with my adjudicator that they acted unfairly and they are refunding all but 2 of my loans + the 8% interest. I have completed the settlement form and returned it to the adjudicator who has now said that MyJar have up to 4 weeks to make payment.
Matt S says
Well had some bittersweet new this morning. My Adjudicator originally ruled that Payday Express should refund interest from 2nd loan onwards +8%. Payday Express did not respond and so it went to Ombudsman. They have ruled that interest on all loans (including 1st which was rolled over 3 times) should be refunded. I have a balance still to clear, so roughly working things out it means that after the balance is cleared I should get around £600 instead of the £200-£250 I’d have got after the adjudicators decision.
However, the response states that it is a provisional decision and that both myself and the company now have until 31st October to add any further information, but if we both respond before this date then the final decision could be made sooner. Now I’m obviously happy to accept this and will respond saying I am happy with this decision. However Payday Express never responded to the adjudicator, so what’s the likelihood that they will respond to the Ombudsman?
I’m happy with the outcome but it frustrates me that Payday Express are being given so long to respond, the adjudicators decision was originally made in the first half of August so if they don’t respond by 31st October then it will have been almost 12 weeks since the adjudicator originally asked them for a response. I’d imagine it could then take them up to another 4 weeks to make any payment.
The money would have been a godsend for me this month as have just been put on reduced wages, however in my head I now don’t see anything coming from it until towards the end of November.
Sara (Debt Camel) says
Well it’s a nice extra bit of money! Serves Payday Express right for not accepting the adjudicators decision.
There isn’t anything you can do about speeding this up, Taking a realistic attitude seems sensible.
Rachel says
Hi advice needed I have an outstanding balance with p2p they stopped taking payments when claim went in. Today recieved a final notice and they said a default sums already issued which I did not recieve? Where do I stand when the account is in dispute? Do I copy fos into my reply? More concerned about the default
Sara (Debt Camel) says
Did you say the repayments were unaffordable? If you didn’t, you could go back and point this out, say you didn’t stop paying, they stopped collecting …
rachel says
No i’ve not said anything to them yet, they stopped collecting payments i would have still paid if they had collected, obviously been in a better position financially with them not collecting as i would have had to borrow to pay it back. I thought i had read on this page that when its in dispute they cannot claim for payments until its resolved? So if i reply back to say the account is with the FOS and it was their decision to stop collecting and also mention why the account is with the FOS due to affordability would that be enough? Should i copy the FOS in this response?. I did not receive their notice of defualt which is more of a concern. thank you
Sara (Debt Camel) says
When an account is in dispute, a creditor shouldn’t take enforcement action, such as taking you to court. But marking an account as in default is not enforcement action, it is a statement of fact, you haven’t made the contractual repayments. And if you couldn’t afford the normal repayments, then it would not have been fair of the lender to try to collect them.
If you would have had to borrow more to make these repayments, well that couldn’t continue, could it? At some point the debt spiral ends because you just can’t borrow any more and then you get defaults. At least this way the defaults may be deleted if your complaint is upheld!
rachel says
Thank you Sara that makes perfect sense i will get a letter reply to them, it was only the other week they offered to wipe the balance off, but as i am claiming other loans i declined. It is because i haven’t’ had to make these payments the past few months as they did not collect i am finally managing to budget and get back on track with other payments that have got behind. Hopefully the ombudsman will find in my favor and be able to clear the default soon, i am currently waiting in the Que and they are also looking at the + 6 yrs. (P2P 7 loans over 7 years/QQ 70/rollovers ) thank you again
Gordon says
Hi All,
118 118 loans complaint has been upheld by the ombudsman today. Full refund of interest + 8%.
I only wish i didn’t accept the adjudicators decision on my Amigo loans. He thought Amigo did everything correct, it was in the same situation as 118. I accepted this a few months ago without taking it to the ombudsman. Potentially £3k+ lost.
Anyone with these longer type loans should go all the way to the ombudsman, especially if you have payday loans at the same time.
Phil says
Some urgent help needed please guys. I had loans with lending stream. I believe in total the interested added to around £1700. They offered me £150, I declined and asked the Fos to write them a letter asking for a final offer for me. They replied with an offer of £600 plus 8% interest saying they have noticed some mistakes that were made in 4 loans. I then went to the Fos and now the Fos has asked for bank statements. I’m worried as at the time I was a massive gambler. Should I just accept the £600? I’m worried I will lose this and the Fos may say silly gambler no refund. I have to send the statements tomorrow so any help would be gladly received
Db says
Hi Phil, my bank statements were filled with gambling transactions, as in really really bad. At no pint was this ever judge. The adjudicator up help all 6 of my complaints. 5 went to the ombudsman of which 2 agreeed with the adjudicator and 3 are still in the queue. One ended up agreeing before the ombudsman was needed and will pay out what I expected. From my experience it doesn’t matter what you spent the money it’s whether you could afford to repay it and if the company should have done more checks before lending. For example if they asked for your bank statements they would have seen you were gambling Harvey and then should not have lent to you before asking more questions.
Aga says
Hi Guys , I decided to share my biggest disappointment today as I received final Ombudsman decision regarding Oakam. the biggest as I paid 11k in interest ; even though I had late payments , defaults, overdrawn account, Payments agreements, my debt sold , bounced cheques , 14 payday loans, bad credit history the lowest, taken 9 loans from Oakam , never repaid any of them, topping up after few payment s as unable to repaid , etc they said my loans were affordable as I made almost all payments ( missed 7 payments on loan 3 ; more then 80 % were from cash from Family friends or credit card ) around 20% payments came from my bank account .
so all depends on the adjudicator , the Ombudsman just confirmed what adjudicator said , Ombudsman made same errors regarding figures as adjudicator so it means to me that Ombudsman didn’t read my final comments and findings.
so I wish you all good luck and fair adjudicator
I am sharing so its easier to accept this unfair decision . ( Oakam offered to write off remaining balance before case went to adjudicator ). I am reading now how to challenge Ombudsman decision …….
Sara (Debt Camel) says
I too think you had a good case – there is a random element which is especially disappointing when your biggest claim goes wrong. In fairness you are getting the remaining balance with Oakam written off which is nearly 4k, so it’s good to see that gone!
matt says
I am so glad I have found this page as I was lost to what I could do or how to start a complaint letter, or if I was even entitled to one.
I got into quite a bit of debt between 2011/2013, god I would hate to think how much I borrowed, it’s scary!
I’ve already sent a letter to all the companies asking for a statement of my account, so just waiting for them to come back.
I have already had a few replies and I’m created a spreadsheet with the date borrowed/date paid back & how much was borrowed/how much was paid back.
My question is should I just go ahead and send my complaint letter to those who have already replied?
Or shall I wait to hear back from them all, then I can attach the completed spreadsheet to each of my complaints so they can see I was borrowing money from several different companies just to pay back each loan?
I look forward to your reply
Matt
Sara (Debt Camel) says
Hi Matt, send each complaint to a lender as soon as you can. In practice a lender is not going to be very interested in the fact you had a lot of loans with other payday lenders, they will be looking at what they knew about you at the time and whether given that they were right to give the loans.
Where your spreadsheet will be more useful is that will show your overall situation clearly to the financial ombudsman.
Hayley says
Well I had good news yesterday my adjudicator agreed with me that my loans with cheque centre were irresponsible and gone from a offer of £290 to over £1000, with out this website I would have not known what to do so thank you so much Sara.
Dee says
Hi I have finally had a reply off Wonga after nearly 4 month however they have only agreed to pay for 10 of my 18 loans, I have already submitted this to the FOS after 12 weeks so my question is do you think I should A. accept the £1800 plus 8% interest or B. let the FOS know and fight for the other 8 loans as well? The other 8 are smaller but still total to about £1,200 ish but I am unsure what this would be worth.
TIA x
kenny says
its a personal decision really, if you think its fair take it, but if it was me id fight it to the end, they know their in the wrong, or they wouldn’t have offered you anything
chris says
Hi, my adjudicator with the FOS has written a letter to P2P going in my favour and listing what she thinks I should be given back. She had put a date on which she wanted a response back (4/10/2016) does anybody know if they normally reply back by this date or do they leave it to go on longer?
Background: I took one loan out which was rolled over 3 times. My adjudicator has asked them to refund interest from the 2nd time this was rolled over, which I don’t agree with as I was also borrowing from sunny, wonga and QQ at the same time.
thanks.
Sara (Debt Camel) says
Are you hoping for a full refund? That would be prettying unusual. The FO normally take the view that the payday lender couldn’t have realised the loan was unaffordable at the start, but should have realised after you kept rolling it over or repaid / reborrowed.
Unless this loan was very large in relation to your income or the lender checked your credit record but ignored recent defaults or CCJs, this adjudicator offer doesn’t sound bad to me.
Nathan says
Received an response from Wonga that they upheld my complaint and agree that the Loans were unaffordable and now due £1900 refund from them.
I’ve had PDUK/Express & Quickquid not uphold my complaint which were taken the same time as Wonga loans and these are now with the ombudsman. Is there a stronger likelihood that the ombudsman will uphold these loans if one company has already done so or is the Wonga response irrelevant?
Sara (Debt Camel) says
hi Nathan – I missed your comment so this is a bit late.
Each case is treated individually so the Wonga response isn’t directly relevant. However the fact they have agreed probably means that you were in clear difficulty at the time, so that is positive for your other complaints.
Dan says
Hi, I had 3 loans with Uncle Buck back in 2014. Loan 1, £100, repaid £140. Loan 2, £400, repaid £540. Loan 3, £485, could not afford to repay the £630. They chased me for ever increasing payments over the next few days and weeks, reaching over £900.
I buried my head in the sand, and they passed the debt to 1st Stop Recoveries, who have issued a CCJ county claim against me.
Can I still email Uncle Buck to ask for them to cancel the original debt?
My CCJ I tried to defend, but it is still ongoing and going to small claims track, and perhaps mediation.
I hope you can advise me!
Sara (Debt Camel) says
With a court case in progress, you need to defend this urgently. I don’t know if you have been getting any advice about this, if not I suggest you call National Debtline on 0808 808 4000 or go to your local Citizens Advice who will be able to get help from the national expert debt advice team if needed. You need to consider defending the case on the ground of an unfair relationship – this is not straightforward and you need help.
You should put in complaint to UB now, but you won’t be able to get your complaint to the Ombudsman for 8 weeks and the ombudsman will not usually consider a case where there has been a CCJ issued, so time is not on your side. It is possible to ask for court proceedings to be stayed, pending the outcome of a FOS complaint, but you are going to need help to do this.
Al says
Hi Sara. Please can you offer your expert opinion? I have received a response from Safety Net stating that they will refund £950 in interest that I paid and wipe it off my credit report. As I currently owe them £650 they have suggested wiping this off, leaving me with £300 refund. Do you think that is a good offer?
As I’m sure you’re aware Safety Net basically give you a credit limit and then increase that limit when you can show you’re able to pay it back. It started off at £200 then quickly increased to around £600. So I was borrowing the full amount possible and then their automatic repayment system would take it all out of my bank on payday. I would then straight away have to reborrow the full amount again. I haven’t missed any payments as I don’t think they allow you to – they’ve always taken some money from my account to pay the minimum off. I asked them to stop the automatic payments and hold off the interest whilst this was investigated.
I paid £1033.72 in interest in total. I still owe them £650. Not sure whether or not to accept their offer of wiping the debt and £300 refund in cash or take it to the FOS?
Sara (Debt Camel) says
The £650 you owe is mostly the £600 you borrowed – the Ombudsman will normally say you have to repay what you borrowed, but no interest. So by writing off £650, this is the same as giving a refund of £600 interest you paid previously and using this to settle the what you borrowed. Plus £300 in cash means they are refunding £900 out of £1033 total interest paid.
It’s your decision but that sounds a pretty reasonable offer to me.
Nat says
Hello Sara and all
Really need help with this one. Had an offer off wonga all interest ^+ 8% but then it’s saying on the table 20%. Deductions
total interest and fees
£895.90
8% interest net
£175.02
total settlement
£1,070.92
tax
8% interest gross
£218.78
basic rate tax deduction
£43.76
Compensatory interest is subject to income tax at the basic rate under UK tax legislation and, therefore, tax will be deducted at the basic rate of 20% from any payments made you. If you do not pay tax, you may be able to reclaim some or all of this tax reduction from HM Revenue and Customs.
If you are a higher rate tax payer, you may have to pay additional tax on the compensatory interest via your tax return. Please see HMRC.gov.uk for more details.
???? Any had this what shall I do or say back ?
Thank you so much any advice would be great
Sara (Debt Camel) says
Well done on a good result. That is the normal tax treatment, Wonga don’t have any say in it. They are deducting interest only on the “8%” part, not the refund of interest, that isn’t taxable.
Looking at the actual figures:
You say they have offered you a refund of all interest paid – do you think the total £895.90 looks right? It probably is, but it’s worth a quick check!
So ignoring the pennies… The refund part is £895. To this they have to add 8% statutory interest of £218 – they are assuming this is taxable, so they have to take off 20% of that which is £43 which leaves £174. The amount before tax is what they call “interest gross” and taking off the tax reduces it to £175 which they call “interest net”.
So the total amount you get is the refund 895 plus the interest net 175 which is what they call “total settlement” of £1,070 – that is the amount you will have transferred to your bank account.
Clear?
There is another wrinkle, but this isn’t Wonga’s fault. You can probably get this £43 tax deduction back, see https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
Matt says
Hi Sara,
i have just received my first response from Mr lender, i must admit they have been very fast and pleasant in dealing with my complaint, i only sent my email asking for my statement of account on the 26th September, and have already received a response on my complaint.
I’m just unsure if the offer they have gave me is as high as it should be, and if i don’t accept it, and the FOS decide i don’t have a case, do i then lose that?
this is part of the response i got from them;
“During your loan you made all payments on time and we were not made aware of any financial difficulty until receiving the letter from your DMA. If a customer advises us that they are struggling financially, as a responsible lender we will always offer further help and support. This could be in a form of an interest frozen repayment plan, an affordable settlement figure or free and independent debt advice. Had you of contacted us directly we would have been able to offer you these different options; however we showed forbearance by working alongside your DMA to support you with repaying your loan. For the reasons given within our investigation, we do not believe that we have acted irresponsibly and the loans issued were fair and should be affordable based on the information you provided at the time and the checks that were carried out.
However after taking into consideration what you have stated in your complaint, as a gesture of goodwill we would be willing to wipe your outstanding balance of £47.18 and refund you £342.00. This figure has been calculated by retrospectively applying the two rollover cap introduced by the Financial Conduct Authority (FCA) in January 2015. Although your loan was taken out before this was introduced, upon acceptance of this offer it will mean that you have not exceeded this cap by refunding you on six out of your eight rollovers”
date of original loan – 06/07/2012
amount – £300
amount paid back to date – £874.95
remaining balance – £47.18
I know iv’e paid back £574.95 in interest, and that’s not including the “8%” simple interest either, but this is the first offer i have had and i have no idea if i should accept it or if i would be able to get any more taking it to the FOS
Sara (Debt Camel) says
That is a fast response!
So you just had one loan which you rolled over 8 times? If that is correct (it’s always worth checking!) then their offer seems reasonable. It would be unusual for the FO to order all the interest on a single loan to be refunded. You may get a bit more, you might not as their “we have now applied the new FCA rule” may well seem like a compelling argument to the ombudsman. You probably would have the 8% added, but it’s up to you if you think it’s worth the extra hassle and delay. Some people like to focus on the maximum they could get – others like to think if this feels a “fair” offer. It’s quite a personal decision.
Simon says
Hi Sara
I’m new to this thread but have complained to the FOS after WDFC exceeded the 8 week period. I have had an email from the FOS stating they have asked WDFC for information but they have 12 weeks to do this? In your experience, will WDFC respond sooner or do they drag this out as much as they can. help or advice would be much appreciated.
Many thanks
Laura says
Hi Simon , my adjudicator warned me of them ” taking there time” sending FOS the company file , I was advised to forward my statement of account ( mine were all on PDF on WONGA headed files) as he was able to start looking into my account and if Wonga delayed further it was possible for him to go forward with the evidence I have provided – hope this helps
Simon says
Thanks Laura.
When you say ‘statement of account’. What do you men? I have already forwarded evidence of the loans via bank statements but as thre are many separate ones how do I forward the statement? Shall I forward the collections email (due to unaffordability I stopped paying back and moved on to a DMP)
I must also stress I have no active loans. I am wanting compensation/interest repaid from when I was taking them. I owe Wonga nothing at the moment but looking for retrospective compensation.
Thanks
Laura says
before complaining to the company – I asked Wonga for a statement of account , this shows all the loans you had , when you took them , and how much interest was paid on each – this information is used as a guide of how much you can hope to receive if your complaint is upheld
wendy says
I had a final offer from payday express today after only 7 weeks,to be fair I wasn’t expecting them to uphold any off my complaint due to what I have read,so i was very happy that they have offered me just under £900 and credit report cleared,not to sure if I’m going to accept yet tho,but so far i have recived approx £5500 back and got lending stream and quick quid with fos,thank you so much to debt camel and sara for a super fab site.
Nat says
So I accepted the offer of wonga yesterday and sent my bank details any ideas the time scale for the payout ? Had not reply after forwarding the acceptance form back Cheers x
Margo says
I got the money in my account on the 7th day.
Gary says
HI,
Please could you advise on the following –
I contacted all my Payday Loan lenders on Monday 26th Sept.
Today i have received an offer from Mr Lender who have been very quick to respond.
I’m just unsure if the offer they have gave me is as high as it should be, and what i should do next.
I had 2 Loans with them –
Date of original loan – 13/06/2011
Date paid in full – 26/04/2012
amount – £250.00
interest paid – £787.50
admin/late fee – £7.00
Paid back in full – £1,044.50
Date of 2nd loan– 08/05/2012
amount – £450.00 (increased from original amount)
interest paid – £549.23
admin/late fee – £17.00
August 12 entered into DMA due to all my loans could not afford to keep paying.
DMP cancelled Aug 13 and outstanding debt sold to a DCA £744.90
They have said they have reviewed my case and complaint and believe they carried all checks and affordability and as a gesture of good will offer to repay interest of £186.73 and write of the outstanding loan which they have sold on. The offer is valid until 1st November.
In total i have paid back £1360.73 in interest nor including the 8% interest.
Please could you advise of what action i should take next?
Many thanks
Gary.
Sara (Debt Camel) says
So the first loan was rolled 10 times? Was the late fee towards the end of this series of rolls?
if it was, it looks as though they are refunding you all the interest and late charges on the last loan (549 + 17) and the probably the last couple of interest charges on the first loan, then taking off the principal amount of the last loan, to give a write off of the last loan and a refund of £186.
If you did make the late payments towards the end of the rolls on the first one, this isn’t a dreadful offer. You may get some more from going to the Ombudsman.
if your late payment was actually on one of the first few rolls, then you have a better chance of the Ombudamns saying you should get a refund from that point.
Gary says
Hi Sara,
Yes the 1st loan rolled over 10 times.
I have just checked their spreadsheet and there are no late fees. The £7 and £17 where admin fees for processing the loans.
There offer is write off outstanding balance and refund £186.00
Many thanks for your help
Gsry
Morag says
Thank you lending stream for disagreeing with my adjucticaor!!!
I had 8 loans with lending stream from 2013 to 2016. My complaint went to the adjucticator where I was told that she was upholding my complaint but from loan 4!! The first 3 were affordable. Lendin stream disagreed so it went to an ombudsman
Result today, I have been awarded all loans , so maybe it might just be better goin to the ombudsman and waiting a few extra weeks!!!! It took an extra 2 weeks for me.
brad says
Had this from payday uk today. not very happy. what are your thoughts please sara?
[edited]
Our records show that lending with PaydayUK commenced in 2009 and; therefore, the first three loans will not be included in our review under the Limitations Act 1980 as financial institutions are not required to keep records for more than six years.
[edited]
You successfully made your application for credit [for £400] with PaydayUK on 15 November 2010. [edited]
You continued to utilise our services from 24 December 2010 to 27 May 2011, settling two loans and deferring on three occasions during this time. It should be noted on each occasion you elected to defer your loans at your discretion, the option to pay in full was always available to you.
The final application you made was on 30 May 2011 for £750.00.
[edited]
I can conclude that I am unable to uphold your complaint on this occasion
[edited]
Sara (Debt Camel) says
hi Brad
I have removed all the standard stuff, also the full list of loans which wasn’t really readable in that format.
1) rejection complaints about loans over 6 years is standard. If you take the complaint to the FOS, the FOS is thinking about whether to include these older loans. I don’t know when the answer is going to emerge, but there is no downside to trying!
2) their description sounds as though you borrowed or deferred every month from Nov 10 to May 11, with the loan amount rising from 400 to 750. If that is accurate, this seems like a case worth taking to the Ombudsman even without the earlier loans.
Brad says
Thanks Sara your a great help. Keep up the great work your doing on this site. You are changing people’s life’s you should be proud. Will keep u updated on how I get on. Thanks
honey says
hi,
i need some advice regarding mg claim to quick quid i had total of 19 rollover loans and quick quid refuse a refund they have sent me thier final response .kindly pls advise on what be the next step and how would i respon to their decicsion thank you
here is qq final response:
[standard stuff edited]
Your credit model score is substantially higher the minimum approval score which shows that our affordability assessments properly ran per our internal policy.
[edited]
It was noted your monthly income was stated as £2200 per month. I compared your income to the average monthly repayment for each loan you took with us. From this I can see that the income you made during each loan with us was always more than enough to cover the amount you had to repay us for each loan and thus I cannot agree with you that your loans were unaffordable.
[edited]
When I reviewed your loan history I see that excluding loans which you repaid early, you never had more than four consecutive loans (< 15 days between loans) where the loan amount increased over the prior loan amount.
In addition, the principal amounts borrowed fluctuated throughout your lending history. If there was dependency we would expect to see constantly increasing amounts in order to cover the prior loan interest and principal. There were several instances where the loan amount you applied for actually decreased from the previous loan which shows that you were not relying on one loan to repay the previous loan.
[edited]
as a gesture of goodwill, we would like to make you an offer that we believe is fair and honest. In full and final settlement of your complaint, we offer to: Provide a credit of £ 300.00 toward your outstanding balance of £ 1453.84
L Gorman says
I got an offer of £350 from them and FOS decided they should compensate me £2.8k.
brad says
Hi Sara ive just received this [edited] from quick quid. I had 18 loans, which increased every time. I borrowed nearly 15k and paid over 4k in interest over 2 year period. they haven’t even offered me a good will gesture. what do you suggest I do?
Sara (Debt Camel) says
Your email from QQ was almost exactly the same as Honey’s if you look back a few…
It sounds as though you borrowed a lot from them – well worth taking the case to the ombudsman. Ignore the fact they offered nothing – wer have had people get large payouts from the Ombudsman after not even being offered a “goodwill gesture”.
Louise says
Hooray! Today Wonga have agreed with adjudicator and have sent me a settlement figure of £1,018. Chuffed! Have accepted, and had an email from wonga already to say that it’s processing and expect within 5 days in bank account.
Timescales: It has been one of the quickest with the FOS. I sent my complaint in about 6 weeks ago, my adjudicator has been on holiday for 2 weeks, and she came back to an email saying they agreed. I did give them 16 weeks as oppose to the 8, so could have been even quicker. In total, it took about 5 months From when I complained.
Gary says
What’s the difference between an adjudicator and the FOS.
If you are not happy with an offer from a lender, who do you contact next?
Thanks
Gary
Sara (Debt Camel) says
The Financial Ombudsman has a two stage process. The first level is with a FO member of staff called an Adjudicator. The Adjudicator will come to a decision, but unless both sides accept it, the case goes to the second stage where it is considered by an Ombudsman. There are 10 times as many Adjudicators as Ombudsmen.
So if you are not happy with a lender’s offer, you complain to the Financial ombudsman and the case will first be looked by an adjudicator. You may find this article helpful: https://debtcamel.co.uk/payday-refund-complaint-detail/
Gary says
Thanks Sara,
I contacted Mr Lender to advise I was rejecting their offer and complaining to FO.
I sent the forms to FO this morning and now just received an increased offer from Mr Lender – £ 486.73 refund and write off outstanding £711.
Do I accept or do you think increased offer is because they know FOS will order then to pay more.
1st loan £250 rolled over 10 times – interest paid £787.50
2nd loan inc to £450 – paid interest £549.23
Many thanks
Sara (Debt Camel) says
So you have paid £549 to wards the last loan? That is about £100 in interest, the rest is replying the principal.
So a £486 refund is about £100 from the last loan and £386 from the first loan, which is about half the interest you paid, so refunding you from the fifth roll.
That’s a lot better than the previous offer. If you carry on with the complaint the adjudicator may say refund from an earlier roll, but they may say the lender’s offer is fair and you should accept it.
Daniel says
Hello everyone,
I must say it’s been extremely interesting reading all the comments, the success and some of the failures that you’ve had with some of these PDL.
Around 2011-2013 I was certainly trapped in the PDL cycle, with QQ in particular I was borrowing monthly £1, 250. Wonga around £500 monthly, and Payday Express around £700 monthly. As a Car Salesman my salary varied immensely and I couldn’t keep up.
I’d say around 10 loans with QQ and Wonga each, and 5 with Payday Express.
Eventually my other half forced me to get into a DMP with StepChange and it took me 3 years to pay everything off.
Having seen others get into this trap its hard for me to understand how QQ for example were happy to lend me £1, 250 a month, every month, with no question to my affordability.
I’m not asking for specific numbers, but in all of your experience, do you think that I could be entitled to a significant refund from these three lenders? I’ve sent the E-Mails to them this evening.
Thanks
Dan
Brad says
If you have had more than 3/4 loans with them all each you defo have a great chance.
Tony says
Daniel
I would say you have an excellent case to put to these companies for not doing adequate affordability checks. Good luck, I am about 11k better off due to this site and still got two large cases to go
Ruth says
Hi all,
So after sending off my letters to all payday lenders I’ve started to get some responses.
WDA- a very through investigation according to them, however the first loan £100 I had with them rolled over twice and then paid it in full. The second loan amount £300 borrowed the next day went onto my DMP. So basically WDA feel that they hadn’t done anything wrong and were acting on the information I had given them re my salary and didn’t make them aware I was struggling!! Surely this would have been obvious the fact I roll first loan over twice and the immediately borrowed even more!!!
So they have decided not to uphold my complaint!! So, should I take this to FOS
Sara (Debt Camel) says
Rolling your first loan twice, then repaying and immediately applying for a larger loan should have alerted Wageday Advance that you had problems. Was much interest added to the second loan? Because it is this interest that is likely to be refunded in you paid it or taken off the balance if you haven’t. The FOS probably won’t say you should have a refund for the first loan.
Ruth says
Hi Sara
The second loan from WDA was for £300 and I have paid £672 back. I had a remaining balance of £2.72pence which they wrote off ( very kind of them!!) do you think it’s worth going to the FOS.
Thanks
Sara (Debt Camel) says
So you paid £372 in interest on the second loan. I would say that is worth making a complaint for? There are no guarantees with this sort of thing, no set guideline for the FOS to use, so there is a random element. But if you feel the loans were unaffordable, then it’s just going to take some time and a few emails to find out if you could get money back.
Miles says
My battle with Uncle Bucks is over.
9th March-Complaint to UB’s
20th April- Their final response
21st April- Complaint to FoS
10th June – Final decision by adjudicator
17th June- UB’s reject adjudicator’s decision
26th June- Adjudicator sends to Ombudsman for final decision
12th July -Ombudsmans provisional decision
2nd Sept- Ombudsmans final decision
20 sept -UB’s send me cheque for just over £4,000
A couple of points I should add.
It’s not been easy. Yes, the final outcome is great for me, but I feel the FoS let them off the hook quite a bit. For some reason the Ombudsman changed the adjudicators decision of a full refund of all loans to a refund of all loans after a specific date. That date was one year after I started the loans and by then I had had 10 rollovers, so this notion of first 2 being affordable and all others unaffordable, was not taken with me. This decision cost me £2,000 but yes, I know, be thankful for what I got!
Also, my statements for the period showed a great deal of gambling (I mean lots). I made the mistake of sending my statements to UB’s has I wrongly believed it would help my case. It didn’t. My adjudicator had not asked to see any statements and everything was looking good until UB’s sent in their reply saying I had lots of gambling issues. The adjudicator took a dim view of my gambling and I literally had to explain to him that it’s an addiction and it was caused by the borrowing, not the other way round. I thank Sarah for her help with helping me with my letter to him.
Anyway, after several interrogations he agreed that UB’s should have known and should not have lent.
So if you have gambling on your statements I would suggest you don’t send them to the company but wait until the Adjudicator asks to see them.
So, of course it’s been worth it, +£4k in my account is lovely (and yes, I have curtailed the gambling) but it’s not been easy, so please don’t expect an easy ride, but you will get there eventually.
I have other stories to come about my other 2 complaints.
I would like to thank Sarah and everyone on here who have responded to questions as I certainly couldn’t have done this on my own.
Dominika says
Regarding WDA I can say u will not get nothing if u rollover just once for first loan ? FO ruled in my favour all loans apart from first two as first one I ruled over once second i paid straight . From 3 -5 loan it went 5 rollovers so they ruled in my favour ?
Hope it helps
Matt S says
Hi Dominika,
Did you get a refund on all your rollovers on the 3rd loan? I’m very similar to you. My first loan with WDA was paid back without rolling over, 2nd rolled over once and 3rd rolled over 4 time, followed by a further 2 loans. My adjudicator only recommended they refund from 3rd rollover of 3rd loan onwards. Currently with Ombudsman after they disagreed.
Also out of interest how long did WDA take to payout after the Ombudsmans decision?
Dominika says
Ho yes we got identical cases ( nearly) as my adjudicator did same ( ruled from 4 rollover ) but then WDA disagree and it went to FO and FO told its ALL intreses from 3 loan onwards ?
Matt S says
Hi Dominika,
That’s good that the Ombudsman improved on the adjudicators original decision. What were your timescales after that? Did WDA agree to the Ombudsmans findings?
Dominika says
They dont have choice ? it’s final decision and they have to accept it ?
Just time scale for u got my final desicion on 5.10 send my acceptance same say by email . Today got e-mail from WDA that they calculated refund I have to send over details so assume on Monday money could be in account ?
Fingers crossed for u
Sarah says
Hi Sara
I was wondering if you can help me or if anyone else can. I finally heard back from my adjudicator and he has agreed that all loans from 2010 on wards (6 in total) were not affordable, the ones prior to this are still being looked at and I’ll have a decision about this soon. How do they work out the actual refund – my loans were all for £700 – one was the 18/06/2010 and the interest and charge was £140 – do i get a refund of the £140 plus the 8% or just 8% of £140?
Thanks
Sarah
laura says
hi , you get the £140 , + 8% of the £140 , which you times by the number of years after the date of the loan ( so over 6 years you times the 8% amount by 6 )
Matt S says
I know a few people on here have had Ombudsman Final Decisions recently in relation to Payday UK and Payday Express complaints. For those who have had, how long did it take for the PD UK or Payday Express to respond with their calculations of redress? And how long after that did they payment come through?
Thanks
kenny says
these Charletons tend to just ignore every communication and drag it out – then they take the full 4 weeks allowed by the fos to pay out
worst company every to deal with – shows you really who we were dealing with in the 1st place.
Jimmy says
Hi Matt,
I called and spoke to them today. They told me it was being “signed off by management today”. They’ll then send me the email detailing the redress etc. It’s been 9 days since They were notified of the ombudsman’s decision and my acceptance.
Uncle Buck emailed me yesterday and said they’ll be sending a cheque. It’s been less than a week for them to do this.
Matt S says
Couldn’t agree more, they never responded at all to the adjudicator after making a decision and so it went to the Ombudsman.
Decisions were made last Thursday. PDUK the Ombudsman agreed with the adjudicator so they have 4 weeks to respond. Seen different outcomes, some people saying they’ve responded with a redress calculation within a week. Others like you saying they’ve taken the full 4 weeks. Will just have to wait and see what happens.
J says
Success via the ombudsman in respect of Quickquid!! My complaint was upheld by an Ombudsman on the 3rd… I wonder how long it will take for them to pay out! For those giving up hope stick with it! My original complaint was submitted in March… Adjudicator found in my favour however Quickquid disagreed so it was referred to an ombudsman. Thanks for the website Sarah
Rachel says
Hi j great news how long ago since ombudsman contacted you? Did you have any older than 6yrs? My claim started at the end of March hoping to hear soon
J says
Hi Rachel,
I got my letter through on the 3rd of this month with their final decision. It took around 5 weeks for them to reply from the adjudicator referring it. Hopefully you hear something soon. I’m still waiting on an ombudsman decision for two others. All my loans are from 2012-2015
KRH says
Hi can you offer me some advice about the cheque centre and the money shop and cash converters please.
Loans taken out in 2012/2013 when I was just turned 18 and I was on ESA due to mental health problems and during this time also fell pregnant and had my son. once one loan was taken out with the cheque centre I was in a circle of loans from them the money shop and cash converters using one to pay the other off. I have outstanding balances with each of them due to being overwhelmed by payments and being harassed by collections for money I just didn’t have. Would I be entitled to a refund in these circumstances? Thanks
kenny says
Hi KRH
Sounds to me that you do, you have nothing to lose. get your emails in, ask for statments of account and then when you know the facts get the complaints in. there are good templates on this site that you can you.
you can also post on here as the community on here are great and will be happy to help you
good luck
kenny
Sara (Debt Camel) says
It sounds well worth making a complaint to these three lenders.
The phrase “entitled to a refund” makes it sound as though if your case ticks certain points you will definitely get a pay out. In practice it is rather more vague than that. But the more often you have borrowed from a lender, the more likely you are to have your complaint upheld. And from what you have said it sounds as though you were a regular customer of those three lenders! So if the lenders turn you down, it’s worth taking the complaint to the Ombudsman.
If you still have debt problems (you mention outstanding balances) then I also suggest talking to StepChange https://www.stepchange.org/Howwecanhelpyou/DMPdebtmanagementplan.aspx about your options. This is in addition to making any complaints. The complaints will probably take months to resolve, so you can’t rely on getting any money back from them.
Lilly says
Little updated from the adjudicator stage with QQ with some time frames.
I placed my original complaint with QQ on April 20th this year, they got back to me 8 weeks later offering me 150 goodwill gesture.
I declined and sent to the FOS on 14th June. I first heard from my adjudicator 5 weeks later on 27th July in regards to it asking for bank statements etc.
I then got his decision on 28th September ( 8 weeks after being assigned to him, nearly 12 weeks after placing original complaint with FOS ) upholding my complaint with QQ and advising them to pay me out on my last pay day loan and my last two Flex Credit loans, this would be around 3000, not including the 8% interest he asked for.
QQ got back to him today, 1 week later, saying they did not agree with his findings, but would offer me 400. I have declined this offer and my adjudicator in his words said – I’ll need to double check the file to make sure I’ve covered everything – or if anything in Quick Quid’s response makes me change my view. Hopefully this won’t be the case though and I will get back in touch next week.
I am now waiting to hear back from him next week and hoping he doesn’t change his mind in any way, and to then hopefully get it send off to the ombudsman – Has anyone had their adjudicator change their mind at this stage at all please?
He also had my P2P complaint and is getting his decision on that to me next week.
Mags says
Ombudsman agreed with the adjudicator regarding my complaint with Uncle Buck.
I had 2 loans with UB – 1st one taken out for £200, repaid on time and in full. The 2nd loan for £400 was taken out the day the first loan was repaid. This was rolled over 3 times before I acknowledged my problem and began a DMP.
I am to be refunded all interest and charges on the first loan + 8% interest. I am to be refunded all interest and charges up to a maximum of £400 on the second loan +8% interest. The outstanding loan balance is to be written off and all credit entries are to be removed from my credit file.
I do not know when I will get the refund – I am happy to have got this far.
Just waiting for the PDUK offer. Had one offer but not all loans were considered so have referred it back to the adjudicator.
Thank you Sara!
Mags
Zara says
Hi
An update from Sunny: Does this sound like a good offer continuous borrowing for 1.5 years, any advice please
To investigate your complaint I have reviewed the account opening procedures in place at the time. Having done so, I am able to inform you that we conducted creditworthiness checks, assessed your ability to afford the repayments which would fall due under the proposed agreements, and we considered how you were managing other debts at that time. Based upon these checks it was considered responsible to advance credit to you. However, having reviewed the information you have provided, there are indicators that the product may not have been suitable for you and with this in mind, I uphold your complaint.
In line with my decision, and to return you to the position you would be in had you not been granted a loan, I would like to offer the following:
• A full refund of all interest and charges paid in respect of your loan, totalling £3231.42 (you borrowed £3908.33 and repaid £7139.75)
• Simple interest at 8%, calculated on the above figure, totalling £624.74
• The record of your loan will be removed from your credit file; we will update Equifax, Experian, and CallCredit.
Should you remain unhappy, you have the right to refer your complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of the date of this letter.
They offer to settle amount in 5 days
Sara (Debt Camel) says
Unless any of the figures sound wrong to you, this is a “full refund” and an excellent result.