Have you had problems with payday loans? 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 here. This works if your payday loans were repaid or you still owe money.
Contents
What are “unaffordable” loans?
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.
A loan is not affordable just because you haven’t missed a payment – if paying a loan left you so broke you had to borrow again – from the same lender or a different one – it was unaffordable!
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. Payday loans are meant for short-term problems.
Many lenders ignore obvious signs of problems such as your loans increasing in size, or your credit record showing increasing debts.
How much compensation can you get?
A typical payday loan decision by the Ombudsman is that the lender should refund all the interest you paid after the third, fourth or fifth loan.
But if your first loan was large, or was rolled over several times, you can get a refund from just one loan.
Which lenders can you get refunds from?
Lenders include:
CashASAP, Drafty, Fast Loan Uk, Fernovo, Fund Ourselves (now in administration), Kabayan, Lending Stream, LoanPig, Mr Lender, Moneyboat, My Finance Club, QuidMarket, Savvy, TickTock, The Money Platform, WageMe.
See this list for payday lenders for a longer list and their email addresses to use.
You can make claims to lenders who have recently stopped lending. It is probably too late to make claims to other lenders who gave up more than a few years ago.
For larger loans there are better template letters to use on other pages:
- 118 Money, Everyday Loans/Evlo, Likely Loans/Finio, Reevo, Bamboo, Updraft, Lendable, bank loans and other long-term loans.
- Loans2Go – the worst loans in Britain!
- doorstep lenders and guarantor lenders,
Do this before, before you send in a complaint
Doing these things now will make your life easier later.
If 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. Winning a complaint then speeds up the DMP.
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 have to go to the Ombudsman.
Unless you can afford to make this month’s payment without borrowing again, cancel the CPA or the Direct Debit to the lender at your bank. Otherwise the lender may take the money and you will be in a mess.
Start your complaint
It’s easy to make these complaints – you don’t need to calculate what refund you should get or quote laws.
Find the lender’s email address for complaints from this list. If your loan was sold to a debt collector, you complain to the original lender.
Put “AFFORDABILITY COMPLAINT” as the subject of your email:
I am making an affordability complaint about the loans you gave me. You should never have given me these 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 and the rest of my credit record that my debt problems were getting worse. It was not responsible to continue to lend.
My credit reports would have shown all my other debts [include this if it applies: 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.
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.
Some ways to improve this
Add any other points that help you describe what happened to you. 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.”
- “I had a gambling problem and your loans made this worse”.
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 (say £800 or more), 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 difficult complaint to win. If you have borrowed twice from 5 leaders, that is much more difficult to win affordability complaints than having 4 or 5 loans from two lenders.
Sometimes a lender will offer you a small goodwill amount to give up eg £50 or £100 so if you only had one loan and it wasn’t large, that would be a bit of help.
Waiting for a reply from the lender
This email starts your affordability complaint.
The lender should reply to your complaint within 8 weeks. Don’t be surprised if you have to wait until the end of the 8 weeks to get response – this is common.
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.
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. Don’t bother to send payslips.
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 rejects the complaint or makes a poor offer
If the lender says No or offers you a small amount, 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.
Give up?
Some lenders try to make your case sound bad when it isn’t. Ignore any of the following comments, they do not mean you have a weak case:
- they relied on your loan applications – see Lender says I lied for more about this;
- some loans were paid early – this doesn’t prove the loans were affordable, just that you were trying to save interest;
- loan size 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 closely;
- some 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.
Some points to think about:
- if you are offered a refund on only a few loans, don’t accept it if you think you should have more refunded;
- an offer to write off your current balance may sound helpful … but it may be very poor if you should get a cash refund as well.
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 instalment loan and the borrower had a good income. And another single loan case for a loan of £1,000. You can win cases for smaller amounts if the repayment would have been a large amount of your income; or
- you still owe money.
Don’t delay – there is a 6-month time limit after a lender rejects your complaint to send the case to the ombudsman. If you aren’t sure, send the case and let them make an independent decision.
How to send a complaint to FOS
Put in a separate complaint about each lender. There is no limit to the number of FOS complaints you can make.
Send the rejections as they come through – don’t wait until all your lenders have replied!
FOS’s “complain online” option is easy and asks for the information to set up your case.
Attach:
- the lender’s reply.
- 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.
- your TransUnion Statutory credit report
- it doesn’t matter if you don’t have the credit agreements, FOS will get them from the lender.
What happens after you have sent a case to FOS
Your case will wait for the lender to send FOS their case file and then be picked up by an investigator/adjudicator who will make a decision on it.
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 have been bankrupt unless your borrowing was all after your bankruptcy – 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 you are in a DRO now, a refund of more than £2,000 may mean your DRO is cancelled! But many payday loan refunds are less than that.
More help
Ask a question in the comments below.
Don’t use a claims management company. They are expensive and often incompetent. FOS says individuals making a complaint have a better success rate than claims firms.
Card & catalogue affordability complaints
Can you get an overdraft refund?
Could a Debt Relief Order help you?
Emma says
Hi all
So after thinking about qquids offer ive decided to send it to the ombudsman and see if he agrees that the loans were unaffordable . Now the waiting begins !! Was just wondering has anyone ever heard that they have given a lower payout than the one declined ?? Also thanks for the advice on here it’s been invaluable
SA says
Morning all,
I’ve just opened my email this morning to some excellent news. On the 8 week mark of my compalint, Wonga have offered me a lovely 2.5K refund. This refund however is only for some early loans that I had from 2011-2013. I have since had many other loans from 2014-now.
I also have a complaint in with sunny which they haven’t upheld which I’ve sent to ombudsman.
My question here is, do I ask Wonga for more and liaise with them directly or now go straight to the ombudsman with this?
Thanks,
Stuart
Sara (Debt Camel) says
I don’t think you will get anywhere by going back to Wonga. They seem to have a policy that as the rules changes in 2014. all their lending after that date must have been OK. Which it clearly isn’t judging by the numbers of people winning complaints about later loans!
So if you had many post-2014 loans, I suggest you send the case straight to the Ombudsman.
SA says
Yeah that makes sense. I was wondering why they had only chosen those ones as my situation actually got worse financially from 2014 onward. I’ll send it off to the ombudsman today.
Thanks again for all your help! I finally feel I’m on the road to financial recovery!
Luke says
I thought this website was an amazing help after i heard on the radio that people can get some money back.
I have literally just sent my complaint to lending stream but I will keep people up to date about what is going as i think other people need to know about this!
Thanks debt camel
Tom says
Hi.
Thanks for this thread, it’s amazing.
I have just submitted complaints against several payday loan companies. If their reply isn’t satisfactory and the next stop would be the FO, do you reply to their email to tell them this is your intention? Or do you just do it?
Thanks.
Ross says
Hi Tom,
Just send it to the FOS, it won’t make any difference to the outcome of the complaint and there’s no point arguing the toss with them, as it’s their ‘final response’. Good luck!
Tom says
Thanks mate!
Sara (Debt Camel) says
You don’t have to tell them but I think it’s helpful to send them an email.
If they made an offer which wasn’t acceptable but wasn’t way too small, it can be worth going back and saying you would accept £x to settle the complaint without going to the Financial Ombudsman.
Suay says
Hi I received this from my adjudicator today.
Wonga has been in touch with me today. It has disagreed with how I’ve reached my outcome but has reviewed your complaint and would like to make a new offer to you to settle this matter
Wonga is offering to refund all advances you took from 31 December 2011 and onwards – referred to as advance 27 and onwards in my assessment. As a result, Wonga will:
· Refund all interest and charges that you paid from the time of advance 27 on 31 December 2011, through to your repayment of advance 104 on 29 July 2014;
·Pay interest of 8% simple a year on these refunds from the date of payment to the date of settlement;
Wonga has said it will also remove these advances from your credit file. This is more than we have asked it to do, as we only asked that it remove any adverse information about these advances from your file.
So the refund amount being offered is £2316.70
I don’t know what to do as I feel that I am owed more. I want to know why they disagree with some of the loans.
I just don’t want it to go to the ombudsman and for them to agree with wonga and I will loose out on this amount.
Should I leave it to go to the ombudsman
Sara (Debt Camel) says
how many loans were there?
what was the adjudicator’s decision?
Carly says
Hi
Just a question, I know companies that I’ve only had 1 loan with are unlikely to refund the interest on an affordability basis but if 6 companies accepted my application in the space of 1 month can I apply for a refund with it being so close together?
My credit file would of shown that I already had a few outstanding, the total borrowed in 1 month was around £1500 and my monthly income is only £1400 so that would of shown it was unaffordable to loan me?
I’m putting in a complaint to Wonga this week as I’ve had 9 loans over the past year which resulted in more borrowing to pay them back just wondering if I can and how I would put it to the other companies?
Cheers :)
Sara (Debt Camel) says
You can always apply for a refund, even with only one loan. I assume these applications were in the last years or two? In that case they should all have been checking your credit record and reporting the new loan in real time. The first of those six may not have seen any recent applications, the last should have seen 5 – unless you made them all on the same day?
If there is a balance outstanding on any of them definitely complain, as they may agree not to a refund but to removing the interest
Suay says
Hi Sara,
I had 104 loans. My adjudicator said that wonga should repay all interest etc for every loan apart from one. But wonga are saying no to the first 26 loans. These were the first ones that were large amounts which I took out for rent payments etc.
Should I just accept £2316. Or say I would be happy to accept to an offer closer to £3k.
Thanks
Lee says
I had 121 loans with Wonga between July 2012 to Jan 2015.
Worked out I borrowed just over £29,000. Phoned them today as inital compliant with them now 6 weeks. Just asked for update told me in final stages of internal decision. Advisor said he wasn’t able to give exact details but sounded positive that it was favourable to me. How long did your inital offer take is this 2k plus figure their inital offer before being referred to the ombusman. If not what was your inital offer.
Seem to be in similar situation to you. So would appreciate any advice you can provide as think I’ll here in next week.
Sara (Debt Camel) says
I don’t think there is any danger you will loose this offer from Wonga if it goes to the Ombudsman. And it is serious money … but it sounds as though you may be due a lot more if your earlier loans were large ones?
That is why knowing how much interest you paid on the earlier loans would really help you to take a good decision.
david says
This site is a great resource and a great source of support. Thanks to the know how here i ve been successful in complaints in regard to borrowing with Wonga and Quick Quid. I’m now turning my attentions to 118118. I understand the process is slightly different than PDL, and I intend to explain they should have seen how dire my situtaion was and how i was reliant on pdls from my credit file. Am I on the right track with this? Do I ask for stement of account in the first instance? all guidance most welcome……and anyone reading this pondering whether to complain or not, rest assured Sara’s templates and detail to the process are second to none
Andy says
Hi I am currently waiting on a response from 118 too, I have received their acceptance email and said they will conduct investigations, as it would be clear to see my loan would have been unaffordable if checked my credit report properly, so wait and see and post findings on here
Sara (Debt Camel) says
No point in asking for a statement – you must know how much you borrowed and when from 118 money. You have to show that the monthly repayments are unaffordable and this should have been obvious from the combination of your application and your credit record when you borrowed. So what would your credit record have shown, defaults, late payments etc? How much would it have shown that you were spending each month on other credit commitments and did this match with your application, if it didn’t match that should have been a warning. Were you asked the purpose of the loan?
Steven Taylor says
Hi,
I had approx. 6 loans from Payday UK and around 5 from Wonga. A few got rolled over a couple of times and I missed two payments. I have had a CCJ since 2011 (first PayDay Loan in 2013) Curious as to how I managed to get them and I probably shouldn’t have been allowed them. I was in a pretty bad place for a few years hence the borrowing. One was over 12 months (i think) repayment plan in 2015 through 2016.
Am I allowed to claim any of it back? Even just the insurance?
Sara (Debt Camel) says
They sound like cases to complain about. The rolls overs mean you were probably borrowing from each of them for 9 or more months – the lender should have noticed you were becoming dependent on the borrowing.
What you would be asking for a refund for is the interest and any fees you paid. Not sure what you mean by “insurance”?
Jamie says
Hi
Anyone had any luck with H&T Loan Group?
Can’t seem to find there email address.
Michellew says
I received a refund from them within 5 weeks
Shellbell says
Anyone know how long Wonga pay out after agreement has been sent off??
ohrlys says
Hi Shellbell
You need to call them and confirm to them that you have accepted their offer. They need a screen shot of your banking details showing the account and sortcode. Once you have done this the money should be in your account in 3-4 working days.
Shellbell says
Thank you. I did write my bank details on the agreement form I signed.
Mark says
Hi,
I am about ready to put a claim Wongas way for irresponsible lending, I believe I’ve got a very good case but I do currently have a PDL with them, it’s due for repayment on the 4th of August.
Should I pay that off and then submit the claim or should I just send it anyway?, I’ve been using them regularly for the past 7-8 years sometimes re borrowing the same day or a few days later, not once have they questioned the fact my credit score is shot or that for the entire time I’ve had a DMP with most of my other lenders.
Thanks
Sara (Debt Camel) says
If you pay them on August 4th, can you get through the next month without borrowing? If you can’t, then you should stop the last payment, tell your bank to cancel the CPA.
Gavin says
Hi, I’ve had an adjudicator decide I should be paid for loans from WDA and LS, However they both disagree with the adjudicator and the complaints have gone to ombudsman. Is it likely I will get some sort of offer off them in the meantime? And how long before an ombudsman decision is likely.
Thanks
Sara (Debt Camel) says
An offer is possible. They aren’t firms that routinely do this with most cases. Waiting times for the Ombudsman vary a lot, some recent cases seem to have been a couple of months, but three or four is more common. (Assuming none of your loans are over 6 years old.)
Mark says
Thanks Sara,
If I get the bank to cancel the CPA I expect il get bombarded with Emails,texts,letters etc which isn’t a problem but how do I respond, should I just ignore them or shall I state that I filed a complaint regarding irresponsible lending on the date I sent the email and have cancelled the CPA pending the outcome.
Thanks
Mark
Sara (Debt Camel) says
Basically, yes. But it’s a good idea to offer to pay an amount you can afford without causing you problems for the rest of the month.
anon37 says
I have asked for a account statement from Wonga, how long does it take for it to be sent in most peoples cases?
Chris says
They wont always send you it!
Keep an eye on the 8 week mark, and if you dont hear anything, send it on to the FO
Lee says
For wonga compliant
I requested all my bank statements from my Bank for past 6 years.
Then I went through all 6 years worth of statements to present. Thankfully all my Payday lending with Wonga started from July 2012 so covered all my lending.
I wrote down and put on a spreadsheet the following
Date (One column)
Loan Amount Borrowed (One Column)
Total Paid Back (One Column)
note down all your findings. All transactions clearly will state Wonga in transaction column unlike some others so easier to see.
Then double check once completed.
Then use the Auto calc on each column to total up the amounts at bottom of spreadsheet
I had borrowed 121 loans / top ups in 31 months and borrowed total of just over 29k.
Provide this in your wonga review. and calculate interest from difference borrowed to total paid back.
Request wonga pay this back plus 8%.
You can then submit this as supporting information if you have to refer to the FOS after 8 weeks.
Lucia says
Finally! A success! FOS emailed me yesterday about my complaint with PDUK. I had 27 loans with them, some over 6 years old. I complained in March. They never issued a SOA but the adjudicator has emailed to say PDUK have offered to refund all interest on loans 2 onwards plus 8%. This is without going to an ombudsman and is their first offer. SO chuffed. I have no idea how much it will be but as its for 26 loans, it will be a fair whack. I have asked them to send me their full details of their calculations too.
Thanks Sara so much for this website. Now I have Wonga and Quickquid to contend with…. out of interest how long do PDUK usually take to pay?
Gemma says
I’m in exactly the same situation, had the email today re PDUK which was with FOS compliance team. Really chuffed although have responded that is reliant on their figures being in the same ballpark as mine! Just waiting on wonga, QQ and 24/7 that are all with compliance due to being over 6 years old – thanks Sara and everyone on here!!
sam says
I would like to update you all, and again thanks for this page.
I submitted complaints on the 8th June to a few companys. some of which I knew I borrowed from but couldn’t remember how many loans.
payday uk came back straight away, with a response I was ok with, only had 2 small loans, both affordable but thought I would try
Satsuma still haven’t come back to me, now 7 weeks
wageday advance came back within 4 weeks, I had loans for 2 years, every month with these and they still said it was ok and that they were seeking the final 100 from me, sent straight to ombudsman, awaiting an adjudicator
and finally sunny have come back to me today, these were the ones I have used for 3 years, having 3 loans open at all times, I still had a balance of £600, they have agreed some loans were unaffordable, and have refunded interest on these and the 8% with equates £570, and will write the last £30 off so I owe them nothing and will update my credit file.
I am happy with that outcome as I now owe them nothing, aaaaaah relax. but.. I cant help think more of them were actually unaffordable, Sara, can I still send to the ombudsman? or can they get annoyed and retract what they have said? I paid overall around 2500 in interest
again though, thanks sooooo much to this page. everyone- be patient! it will work out :)
anon37 says
how many loans in total with sunny? £570 of £2500 including the 8% seems like 20-25% of the total interest overall.
sam says
oh god, ALOT. Sunny didn’t send me a statement of account though… When I first emailed I went through and listed them all, to which took me that long I even put ”you get the jist” there were that many. I have replied asking if that’s the final offer as it didn’t state final…..at least for now I owe nothing. they only deemed 4 loans unaffordable, so its the interest on them refunded
Sara (Debt Camel) says
Have you already accepted their offer?
sam says
i haven’t. but there wasn’t an option to accept, it was just, we will write off the existing money, we will wipe off credit file, if your not happy contact the FOS. I have replied saying thankyou- but is there anything else you can do and review?.. then gave the list of reasons
Sara (Debt Camel) says
If you don’t want to accept you need to get back to them ASAP and say that you have thanked them for their offer but you have decided not to accept it and are sending the case to the FOS today. Refunding 4 out of “a lot” doesn’t sound reasonable.
Cmum says
Just as a guide to timelines for people complaining to wonga.
Complained in mid May directly and after 2 weeks they said no. Sent to FOS immediately. Picked up by adjudicator mid June. Just received reply from adjudicator to say all loans were unaffordable and have requested wonga refund interest on them all (loans 1-11 taken over 9 months) plus the 8% and remove all traces from credit file. Wonga have until 10th Aug to agree/disagree.
I’d been so deflated when wonga were quick to say no and would never have had the gall to send to FOS had it not have been for this thread. Thankfully the adjudicator completely agreed with me. In total the interest should be around 1500 plus the 8%.
Just a note – I had a gambling issue at the time and the adjudicator included it as part of my monthly expenditure without disclosing that it was gambling. They advised wonga that they didn’t go far enough into looking at whether it was affordable (they’d only asked my income and done a basic credit check). In particularly loans 3-11 as they were doubling each consecutive month so even though 1 & 2 were unaffordable from the get go they should certainly have been looking into my reliance by then.
Fingers crossed they agree with the adjudicator!
Louise says
Hi, just to let you know Wonga did take six weeks to come back to my adjudicator with an offer. I understand they are slow in responding due to volume of claims. Everyone seems to have different experiences, but just wanted to say so your not dissapointed if you don’t hear by the two week mark. :) you will hear its just a frustrating wait. Good luck!
MH says
Hi Sara,
My Adjudicator has just replied after looking into my bank statements and is assessing an affordability complaint. He asked:
“I’m currently looking into your complaint against Sunny loans and I can see on your statements that on top of your salary, there are also some large payments coming in from xxxxxxxxx. Was this another salary or refund? If you could let me know it’d be very helpful, thanks.”
I have replied and told him that this was an additional adhoc part time job, with a zero hour contract.
I feel that he is going to come back and say these loans were affordable due to this additional income. I have already made him aware of the multiple online gambling transactions I had and the repetitive lending by Sunny which i feel he should be focusing on more?
Any ideas comments welcome.
Thanks
Sara (Debt Camel) says
Well the loans do have to be unaffordable to get a refund. Let’s take an extreme example – on person tried to get a refund after borrowing from the same lender every month for a year. During that time she was living with her parents and saving a couple of hundred a month into an account for a deposit for a mortgage. the adjudicator decides the loans were affordable.
Can you pick a month in the middle of your borrowing when there was a large extra payment coming in and work through your bank statement for that month. You will have repaid Sunny, then borrowed again. What would have happened if you hadn’t borrowed again? Would you have been unable to pay important bills, or would you have had DDs, STOs rejected?
clive says
Yay….just .had an adjudicators decision not to uphold a complaint overturned by the Ombudsman. Just goes to show (it may not happen often) but sometimes it worth going the whole distance and not necessarily accepting what your adjudicator says. :)
details: I had 7 consecutive instalment loans with Uncle Buck. Not for large amounts £200 up to £350. The adjudicator said that although Uncle Buck didn’t make sufficient affordability checks that even if they had done so she thought the loans would still have been affordable and therefore didn’t uphold the complaint.
I disputed this and it went to the ombudsman who has now decided 2 of the 7 loans were in fact unaffordable. A small amount (about £200 ) to be refunded but still a result.
Timeline: The adjudicators decision was made on 9th May 2017 and the ombudsman decision on 27th July, so about 11 weeks in total.
Neil says
Wonga haven’t replied by the date given by the adjudicator so it’s gone to the Ombudsman, Quick Quid offered a refund on last loan only before it’s been looked at by the FOS but won’t consider previous 6 loans that are over the 6 years. Offer is £1000 (including 8%) however total interest on all loans is £2400. Looks like a long wait to see if Quick Quid will reconsider the 6 year rule on the loans.
Sara (Debt Camel) says
It may not be that long a wait – at some point there will be a resolution to this QQ v Ombudsman standoff.
Sal says
Hi Sara,
your advice please.
Cash converters offered me a settlement yesterday BUT did not include the 8% statuary interest element.
I asked them about the 8% since this loans dated back to 2012 may!
They have replied and said that the 8% is recommended and not statuary. The letter I received is the FINAL offer!
what to do if you were in my shoes?
thanks
Sara (Debt Camel) says
It looked like an excellent offer because they were refunding all the interest you paid AND writing off large outstanding loans.
Tom says
Quick update on one of my accounts to help people with timescales. (This one is with MrLender).
Monday 17th July – requested statement of accounts
Saturday 22nd July – received SoA
Sunday 23rd July – sent irresponsibile lending email
Thursday 27th July – email with MrLender’s response offering me the interest and charges back on 1/2 debts (£350 in total, the first loan was a lot smaller so I didn’t think for the sake of £40 it was worth escalating to FOS.)
Bank account details sent and they said the funds should be with me in 3-5 days. As simple as that! Very impressed.
Terry says
just thought I would give you an update. My 70 Wonga loans from between 2012 to present I paid interest and fees totalling £7300.
Wonga have contacted me 6 weeks after my initial complaint offering £5,694.27. Plus 8% interest is £7200.
They have only refunded my loans from Feb 2012-Nov 2014 when the FCA made them tighten up on their lending rules. Now I did still borrow another 25 times after 2014 however the most I was able to borrow from them with the new rules was only £400 as opposed to the £1000 i used to be able to borrow and a lot of the time my loans after 2014 were for only between £170-£400, the total interest i paid on these loans was £1032 so i thought this was a very fair offer considering. What are your thoughts on this, do you think i made the correct decision in accepting their offer or do you think i should’ve held out and went to the ombudsmen for the other £1032 plus the 8% annual interest that i would’ve also got? They have now processed my refund email that i sent back to them and i got an email from them tonight saying the money will be in my bank in 3-5 days!
QuickQuid have less than 2 weeks to get back to me so i will let you know how i get on with them. They actually contacted me within a few days of my complaint asking for wage slips and bank statements, i didn’t reply as i don’t think i need to provide/help them with that, i will give them to the ombudsmen if it goes that far.
Sara (Debt Camel) says
I have edited and put together your really long comments.
As you are being offered a refund which is equivalent to almost all the interest you paid and about 85% of the maximum you could have got, it looks like a good offer to me. But that’s a personal opinion, what matters is if it seems fair to you.
Yes you may have been able to get more by going to the Ombudsman – plenty of people have had a refund for post 2014 Wonga loans – but as your loan amounts were a lot lower it is possible the Ombudsman would have thought these were affordable so it’s not guaranteed.
Terry says
Yes sorry I can waffle on a bit lol. I am very happy with the offer and I tend to agree with you in that after 2014 the 25 loans I had only averaged out at around £300 I am sure the Ombudsmen would have seen the majority of these as ‘affordable’ anyway. Actually can’t believe that Wonga have refunded me with almost all the interest and the compensatory 8% interest too. I took your advice and only focused on one or two of my main payday lenders to begin with which were obviously Wonga and QuickQuid but I have had loans out at the same time with Mr Lender, Lending Stream and WDA albeit nowhere near the amounts I had with Wonga (70) or QQ(30). QQ now have less than 2 weeks to get back to me so hopefully more good news ahead! I will then set about claiming refunds with the other lenders I named above.
michellew says
Hi
Does anybody know how long it takes for PDUK to pay. I sent my acceptance form back 3 weeks ago. I know they have 28 days in which to pay but I was hoping for it earlier (lol)
Thank you
David says
I got mine within 5 days without contacting them at all. They got InTouch with me. But payday express which was agreed at the same time is at 17days… Very odd complaints team considering they deal with both company’s.
Michael says
I received this today regarding my 8 complaints with various companies ( 8 of these emails but with the lender names on)
your complaint about Lending Stream Llc
Thank you for your recent contact about payday lending enclosing a copy of our complaint form.
I understand you have already contacted the business about your complaint.
what happens now
If the business do not need any more information, they should send you a letter giving you their final response. They have eight weeks to do this from the date they received your complaint.
what to do next
If you feel the business have not put things right, get in touch with us. Equally, if you have not heard from them after eight weeks and you want us to look at your complaint, let us know.
————————————————————————-
Does this mean they are aware of my case but are waiting for the company to offer, or they have picked up my case? (I complained to the FOS 2 weeks ago)
Sara (Debt Camel) says
The FOS will not look at a complaint until the lender has responded to it. The FOS will not do anything until you get back to them saying you are rejecting a Final Response from a lender or that the lender has not replied within 8 weeks.
Sarah says
Hi,
Just wondered if anyone has any experience with My Jar?
The financial ombudsman have recently agreed with my initial complaint to refund all interest and charges plus 8% and remove all history from my credit file.
This has been sent to My Jar, but they’ve yet to respond, any advice would be much appreciated.
Thanks
Sarah
Jampanda says
Hi Sarah
They responded quite quickly (2/3 days)
Luke Wilson says
I have just had a reply off lending stream regarding my pay day loans.
I emailed then a letter with help from your website regard 2 past loans and one on going loan that I am still paying off. They have basically snubbed my email and have to get in touch with them regarding re payments.
What is the best thing to do now? Do I reply back to them or should I go to the ombudsmen? Any help would be great.
Borrowed in December 2016, March 2017 and may 2017 but I am still paying the 3rd one back. The other two have been closed.
Sara (Debt Camel) says
I am guessing these were all three month loans? So borrow in December, end in March, then very quickly take the next loan out?
How large were each of these loans?
Luke says
£200
£160
£100
The loans are took out were pretty much as soon as I paid one off I was having to take another one out.
But it was the interest that made things worse for me.
Sara (Debt Camel) says
was that 100 then 160 then 200? or the other way around? Those are pretty small loans the monthly repayments would have been low. Whether they were unaffordable depends on what your income and other expenses were.
Mark says
Hi,
I’ve started the process of gathering my information to tackle Wonga & Quick quid, I have a PDL with both at the moment which I have cancelled the direct debits and CPA for so they don’t leave me struggling next month, I’ll deal with them about a repayment plan when they contact me wanting their money, in the mean time I am trying to see exactly how many loans I’ve had over the years through both lenders but my visible online statements only go back to July 2010 (NATWEST), the bank confirmed this when I asked them, is the only way to find out by asking Wonga and QQ to send me a statement of all my previous loans?, or shall I just put in a claim for what I can see?.
I am not 100% sure when I started using Wonga or QQ so it could be that there aren’t any prior to what I can already see on my own bank statements.
Many thanks
Sara (Debt Camel) says
Put in a claim for all your borrowing with an unspecified start date and include in this a request for them to send a statement of all your previous loans.
Have you asked NatWest how you can get older statements? If there were payday loans from W and QQ showing on the oldest statement you can see, it seems a bit of coincidence that that would be the first month you borrowed from them…
Wendy says
Had an email from ombusman today regarding my LS complaint (it’s been in the queue since the Nov 16).
Ombudsman isn’t a final decision yet they have said loans 5-28 they think LS should pay back but they have give LS till 29 Aug in case they want to add anything more
Dan says
Hi Sara and the group.
So, got a phone call from the adjudicator today to run through a couple of points with my Sunny complaint and he’s issued his response to them today and established that loans 6 through 15 were unaffordable which is great news (it’s should be about £3. 5k).
Do you know if Sunny usually agree with adjudicator decisions? He’s said that the ombudsman is unlikely to disagree with his findings so, unless they have an ace up their sleeve, looks like that’s my minimum refund (right?).
Also, I told the adjudicator about my other complaints and he’s going to pick these up too – is there any evidence to suggest that they’ll use their experience with this case to decide on other complaints? They were all around the same time.
Keep up the good work!
Bill says
They agreed with the adjudicator for me about a week ago and made an offer was on the last day they gave them though. No sign of payout yet though.
Dave says
Hi,
good update from my lending stream complaint. The ombudsman has upheld the findings of FOS and agreed that all my interest should be returned along with 8% simple.
Vijay says
Hi Sarah,
MYJAR also responded to me quite quickly, and offered me a refund w/8% and adverse marks removed from my credit file. They also paid me quickly. From initial complaint to settlement (without Ombudsman even getting involved)…1 month. Good luck.
Shem says
Hi Sara and group
I’ve just started the process of seeking refunds from various lenders, starting with wonga with whom I’ve had 42 loans and additional 57 top ups, interest and fees total apx £3800 ish. Stuck in that common cycle of not having enough to live on and pay other priority bills most of the loans and top ups were refinanced the same day as paying off the previous loans and the longest gap was 24 days in 3 years from sept 2011 to sept 2014. I’m not expecting a response from them anytime soon as only sent my step 2 email this week but do you think it has a chance? My credit file was a mess at the time and I was in rent, council tax and gas & electric arrears, man of the payments took up between 50% – 75% was of my income, I was always shocked when I was approved but desperate so didn’t argue but surely they could see how reliant on them I was without a break in lending every month for 3 years…. do you think it’s worth pursuing with FOS or private no win no fee company if they reject my claim?
Thanks so much
Sara (Debt Camel) says
Sounds like an excellent case, definitely go to the FOS if Wonga reject or only offer a low refund.
You don’t need to use a claims company, you know your case and you can do a BETTER job of explaining it to the Ombudsman than an intermediary can. An intermediary will either keep asking you about every point (in which case you may as well talk to the Ombudsman direct, having them in the middle just wastes time) or they will just give standard answers to the Ombudsman which may not be the right ones. If an adjudicator misunderstands something in your case, you can usually see pretty quickly what they have missed because you are the expert in what actually happened to you.
Claims firms are expensive leeches. The payday loan refunds are not simple tick box exercises like PPI, they require not legal expertise but a full knowledge of your situation over many years.
She says
Many thanks Sara , will keep you posted on any progress. I’ve provided them with quite a lot of information about my situation and that 3 years of consecutive lending must have flagged some concerns about affordability and dependency to try and encourage a reasonable direct offer but will deffo take your advice if they don’t respond or it’s not good news
Ty
Kim says
Lending Stream have not offered me a penny after having 11 loans with them , just sent to FOS, has anyone had any joy from them ?
Sara (Debt Camel) says
Lots of decisions against Lending Stream by the FOS, see Dave’s comment a couple before yours.
Sally says
Hi Sara
Just need some advice I got a reply from Wda saying that there is no law saying they have to do a credit check before lending money, is that true? They have offered me £1,500 with the 8%. I have paid in intrest and deferral fees £2.300.
I took out 16 loans and there only refunding me on 6 loans.
Sara (Debt Camel) says
That isn’t a dreadful offer but it’s not good. You could go back and say what you would be prepared to accept – what do you think would be fair, £2,000? Or all your interest and fees without the 8%? This is very much a personal decision – you may feel you want a full refund plus 8%. You may decide you just want to send the case to the Ombudsman for them to make a decision on.
Vicki says
I keep reading everyone’s comments on here and people seem to be having some success with their claims. I’m sadly not. This is my current update of where my complaints are at:
WageDay Advance, AvantCredit, Uncle Buck, Vivus & 1st Stop had all denied any wrong doing, and I have sent them all to the FOS. Only one so far (AvantCredit) has been picked up so far by the FOS.
I am still waiting for final discussions from Wonga, QuickQuid & Sunny. A few weeks left for them to come back to me.
Feeling a little disheartened!!
Sara (Debt Camel) says
This is all early days for you – many people don’t get any success direct from a lender. How many loans did you have from each lender?
Andy says
Hope it turns out for the best for you, could you let me know how get on with advant because I still have a balance with them with unaffordable payment to make ?
Sara (Debt Camel) says
So what are you doing about this unaffordable payment? Don’t make it and borrow somewhere else… if you can’t afford it, cancel the CPA/DD and tell the lender you want a payment arrangement. How other people are getting on doesn’t make any difference to what you need to do now :)
Vicki says
Hi Sara.
Wageday advance I have had 7 loans over a two year period. Most were rolled over on a monthly basis or I borrowed again within days of paying off.
Uncle Buck I have about 10 with them.
Vivus I had 4 with them.
Avantcredit I have 3 with them and they were rolled over with some late/missed payments.
1st Stop I have 4 with them and again some late payments.
Sunny I have had 10 with them from what I can work out on my bank statements as not received a statement.
Quick quid I have had 20 with them again not received a statement so this is what I’ve worked out off my bank statement.
Wonga I’ve had 10 which were rolled over and borrowed again within days.
On most occasions I have 2 or 3 lending me money in the same period so I could pay off a previous loan and lay my monthly bills.
Sara (Debt Camel) says
All sound like well worth taking to the Ombudsman! Settle in, you could still be dealing with a few of these months from now, but it will be worth it in the end!
Kelly.s says
Hi, it’s great to hear so many people getting refunded. I am wondering if it is worth me putting complaints in with a few payday lenders I have borrowed from. I have borrowed £5100 from sunny over the last 2 years. I have always paid the loans back early, but have sometimes used other lenders to borrow from to repay the amounts. From my salary and outgoings it shows the loans were not affordable at all and I was living in minus. What I’m wondering is that as I repayed a lot of loans early the interest wouldn’t have amounted to much. Is it even worth making a complaint? I’m not sure added up it would come to much. Any advice would be greatly appreciated.
Sara (Debt Camel) says
If it’s recent, can you look at your bank statements and tell how much interest you paid? It’s pretty hard for anyone else to guess.
Are you still borrowing?
Shellbell says
Sara and anyone who can advise?
Ombudsmen partially upheld Satsuma complaint also known as Provident finance. 28 days has now passed since settlement and no sign of any cheque!
Is this usual for satsuma (provident)??
Thanks.
Sara (Debt Camel) says
Have you phoned them up? Tell your adjudicator.
Shannon says
I believe that Pacific Network SE is Lending Stream. The deposit is made under that name but repayment should show to Lending Stream.
Paul says
anyone know who or what these are ?, they appear on my bank statements, all with payments of 59.85
M Portal
ML Portal
P Portal
Scott says
Hi Paul,
They appear to be some dodgy loan company, Google “ML portal on bank statement” and you will see some comments regarding it.
They appear to take multiples of £19.95 according to the comments.
Unfortunately it seems that people are having problems getting their money back.
Checked some more. Did you sign up to Credit Portal Ltd for credit score? They charge £19.95 for their service and you need to supply bank details.
You can call them on 02035985198 and try and request your money back. I would also contact your bank’s fraud department and get them to try and assist you in getting your money back and to ensure all cpa’s are cancelled.
Scott
Paul says
Hi
I wrote to PayDay UK and I used ‘stage one template’ asking for my statements as I honestly can’t remember how many loans I had over the time I did. All were repaid and I have none outstanding and haven’t used them for years now. They have responded:
“Dear Mr
Thank you for your email.
With regard to your request this account currently has no sums due or payable. Therefore, we have no current obligation to send documents under Section 77 of the Consumer Credit Act as per Subsection (3) of Section 77 which states that the “requirement under Subsection (1) does not apply to – (a) an agreement under which no sum is, or will or may become payable by the debtor….”.
They have said in my first email that they will look into my complaint but I have said I need statements to help me with my complaint and they have refused. What do you advise I respond with, are they within their right to withhold my statements?
Thanks
Hayley says
Payday did this with me and refused to send me a statement of accounts, send original email on 6th June and then another email two weeks ago stating I will not be paying for a statement and they they are being deliberately obstructive of my complaint. I had a final response on Friday stating this: following on from your complaint on 8th June you also complained that we didn’t send you a statement of accounts. I’m sorry you weee unhappy about this we didn’t provide a statement because you don’t have an open account and our process only kicks in if there is an open account.
They listed all of my loans in the final response and upheld all 11 loans and have offered me all of the interest and charges along with 8% interest. I would advise sending in a complaint regarding being obstructive so they can consider this when assessing your case
Paul says
i was going through my bank statements. I found the first payday loan I had ( wonga ) was dated october 2010, is it possible to claim that back as the payment was in 2011 ?
Sara (Debt Camel) says
The 6 years starts from the date you make your complaint, so that would probably be outside it. The Ombudsman is looking at older claims but so far Wonga isn’t paying out on them. I suggest complaining about all your loans and make a decision later about whether to drop the older ones.
Jamie says
Hi all.
I have 5 open loans and on a repayment plan with
Cash4unow – £330.54 in total doing payments of £82.68
Nextcredit – £167.52 in total doing payments of £56.38
247 Moneybox – £94.24 in total doing payments of £47.12
Trusted Quid – £80.96 in total doing payments of £40.58
In total it’s £758.06 and every pay day I’m losing £269.06.
Can anyone advise me please.
Tom says
Hi Jamie,
Are all of these repayment plans with each individual company? If so, you may benefit from one consolidated repayment plan. I suggest going to StepChange who will be able to take over all of your debts and you pay one lump sum per month until the balances are cleared.
Speak to them and they’ll be able to advise further. Once it’s set up, you’ll probably have a full month without having to pay anything from your wage, which is breathing space. You should then consider putting in complaints to the companies if they have lent money to you irresponsibly. In some cases, they’ll refund money, in others, particularly with open balances, they’ll clear the balance for you or reduce it.
Hope this helps.
Hayley says
Has anyone had a complaint upheld. By payday U.K. If so how long did it take to receive the refund? They asked me to post my acceptance but I signed it and emailed it back on Friday but did t receive an acknowledgement
sally says
Mine took three weeks Hayley. I received an email and then the money was deposited that afternoon.
suzy says
Hi Sara
**************************RE APPEARING QUICK QUID ON CREDIT FILE (CALL CREDIT/NOODLE )
Just check my Noodle credit file and could not be it QQ have re entered on it again this time calling it overdue !
This went to the FOS and part of the ruling was to remove all entries well they did for a year but suddenly its back
Anyone else had this ??
The FOS ruled all interest to be removed, leaving principal sum , plus entries to be removed
How shall i deal with QQ ?? i really thought i sorted this , i still have all the FOS E mails etc
Sara (Debt Camel) says
oh Suzy what a PITA… well you can phone them up or put in an email complaint. I hope this will be sorted very quickly.
Neil says
Funny – I had a Wonga loan re-appear on my credit file (Equifax / Clearscore) after a FOS ruling that they were all removed (and that happened back in February). I have complained to them again, but I wonder if this is coincidence that you are also having a similar issue?
I’ve also had trouble with Pounds Till Payday (about whom I never complained) who have made an entry on my Experian file that I owe them £200 from 2015 (I do not and have documentary evidence to prove it). That’s a complete bind to try and get sorted, they are asking me for details on the loan I just don’t have and can’t obtain.
Anyway, good luck with getting this off your Noddle report!!
D says
Hi Suzy,
My complaint is in a queue to be reviewed by an ombudsman at the moment, but about 3 weeks ago I had 2 random entries reappear on my credit file from QuickQuid saying two loans from 2016 were overdue. I phoned them to complain about it & also told my adjudicator – it took around 7-10 days for them to finally delete the inaccurate entries.
Give them a call & they will eventually remove them.
D
Debbie says
Hi,
I have just submitted requests for information using template letter one. I have had a reply from express finance saying they are not a lender and would not have lent me a loan. Should I proceed straight to step 2?
I had approximately 12 loans spread over 6 or 7 companies, so not huge amounts. I was in a dmp with stepchange, or consumer credit counselling service as it was then, when I took them out. I defaulted on my payments to them and eventually set up another dmp with payplan which I have been paying for 5 years. I am still paying off. I took these loans out in mid 2012 and am still paying 8 of them, the estimated amount remaining is £3500. Most of the loans were for amounts between £150 and £500.
When I took them out I was a single mother with 3 children, working part time and with no financial help from my ex husband. Most of the loans were taken out over the phone and I don’t recall having to provide my incomings and outgoings.
Is it worth proceeding? Even getting the outstanding loans cleared would be a massive help.
Thanks in advance
John says
Hello Sarah,
Just an update on my Wonga (31 x loans 2012-2014) & QQ (25 x loans 2012-2016) claims and for some advice at this stage please?
Both claims submitted to FOS in January ’17, adjudicator got in touch in April ’17.
Adjudicators decision was to uphold my claim on Wonga (loans 4-31) & QQ (loans 5-25) with all loans to be removed from my credit file also.
Wonga had until 4th July to come back with a reply, QQ had until 28th June to come back with a reply but both misses these deadlines by over 3 weeks!
QQ have disagreed and come back on Fri 28th July with an offer of £1,365.55 on only the first 5 x loans and Wonga have also disagreed but may still get an offer.
I have decided to go to Ombudsman with both claims, my adjudicator who I must say has been friendly, efficient and excellent to deal with has said they will look at this again and take all info into consideration.
Due you think I’ve made the correct decision? I’ve read all the other advice/comments on here and it seems that if the ‘business’ has made an initial offer it usually is pretty poor and better to go ahead with the adjudicators decision.
I’m also led to believe the Ombudsman very rarely if ever disagrees with the Adjudicators decision, hoping I’m right.
Thanks again for all the valuable advice and info :-)
Sara (Debt Camel) says
QQ – they often make poor offers and this sounds like one of them Take the case of FourMenHadADream who commented a couple of days ago that he was getting just under £3000 back from QQ after the Ombudsman found in his favour. QQ had offered £60, £400, £660 and then £1800!
Wonga havent offered anything so definitely right there.
Have you added up the interest you paid on the loans the adjudicator said to refund? I think that is a good move so you have got a good benchmark to compare any offer against.
It’s very rare for an Ombudsman to reach a very different decision, but sometimes they “tinker”, changing refund from loan 5 to refund from loan 3 or 7 or something. Annoying if you get a bit less, pleasing if you get a bit more. They are equally likely!
Sara (Debt Camel) says
somewhere in the 2-4 month region is common at the moment.
Lee says
Quick update.
Just had my 3rd final response of 10 from Sunny this morning. First one that upheld my complaint in full and calculated my total interest about £1 more than I calculated plus gave me the 8% statutory interest I requested with no hassle. Also will remove all loans from credit history. They deemed based on gambling addiction I stressed in my compliant the reason for tge refund although this wasn’t given at time of lending.
So happy first full refund with the 8%. Already had over 1 grand refunded back to me from 3 of my smaller loans providers.
So far
Compromise offers with Peachy and Mr Lender (roughly 75% of refund requested with no 8% given)
Sunny – Full refund and 8% within 7 weeks of inital compliant.
Lending Stream & Payday Express referred to FOS as providers rejected my compliant in full no offers made.
Wonga, 247 Moneybox, Uncle Buck, Piggybank and a few others within 8 weeks atm. Wonga the biggest loan provider for me by far only has 8 days till 8 week deadline is up. Apparently at final stage of confirming final response / offer as phone them to check last week.
ajjnn says
Hi There, I have received final offers from Wonga & Quick Quid, I have emailed them back to accept, do you know how long it takes for them to refund the money back to bank account?
Also, for the loans they have agreed to refund the interest on are these automatically removed from your credit file?
Best Regards
Sara (Debt Camel) says
They aren’t automatically removed by most lenders – you need to go back to them if this is important to you.
Paul says
i’m now just waiting for account summaries from 4 lenders, so I can calculate how much I’ve paid in interest & fines.
The summaries I already have add up to around £20k, calculating via excel.
It’s a shame I can’t claim back from toothfairy & minicredit, it would add up to £25k+
Lee says
I’ve just settled with Peachy 2 weeks ago and was my first 1 of 10 to deal with in full. I accepted quite a low offer about 40% of what I had requested with no 8%. Learnt from that one a lot to hold out a bit and dont jump the gun despite any temptation.
Recommend you counter offer to try and settle beforehand but only go down to 80% of the 100% you are requesting and state in counter offer you feel this is a fair compromise as you still will of made some money out of me overall from my lending whereas I’ll request the full 100% plus 8% statutory interest if you leave me with no alternative but to go to the fos. Also state in response you are confident you have a strong case and FOS will agree with you if you do not agree with counter offer as a fair and amicable option to settle this matter now at this early stage.
Pear says
Hi John, QQ originally made me a goodwill gesture which I declined, before the adjudicator even looked at complaint the offered to refund interest only on final loan which I declined. The adjudicator recommended they refund all interest from loan 2 onwards and QQ came back and offered just the final loan plus 8% which I declined just over a week ago and told my adjudicator that I would only be willing to drop the 2ND loan. Today my adjudicator emailed to say QQ had agreed with him and would refund from loan 2 including the 8%. Hope this helps.
John says
Hi Pear,
Thank you for sharing your info, great result for you and you didn’t even have to go through the wait for the Ombudsman decision.
I was originally offered a good will gesture of £18 by QQ.
Hopefully will have a similar outcome to yourself.
Cheers :-)
Neil says
Wonga didn’t reply by Adjudicators deadline date of so was passed to Ombudsman, email received today before it has been looked at by Ombudsman offering all interest and charges on all 7 loans minus amount written off by them previously, offer just over £1000., all entries to be removed from credit file.
Happy to accept that.
The Hitman says
Sanity check:
I have received my statement from Wonga, and I’ve work out the following:
Principal Amount: £10401
Fees: £161
Interest: £2187.68
Amount paid: £11229.21
The last loan I took out was for £1088, but only paid £55 before the loan got written off in Oct 2014. I’m getting slightly confused shall I still appeal the £2187.68 + £161 + 8%? Or minus the balance that was wrote off?
Thank you.
Ross says
Hi Hitman,
When Wonga refunded me, they made no reference to the loan they wrote off of mine. I think this is because it should never have been granted in the first place, which they had to concede, hence the write off. I would exclude the written off loan from any calculations, such as deducting it from any amounts.
Sonia says
Hi I got this today from Provident-You believe we did not complete the necessary checks to assess your suitability for the loans issued however having reviewed this I can see an agreement was completed for each loan. These have been signed to confirm you had reviewed the terms and were happy to proceed with your applications. You provided your own income and outgoing information as part of the application process, these details were captured on a paper-based Customer Detail Form (CDF) which also included a signed declaration by you stating the information you supplied was accurate. We also used monthly refreshed and up to date Credit Bureau data to assess existing applications from January 2010, and this was then adopted for new applications from November 2013.
When you enquired about further credit, your Agent was responsible for reviewing repayments made to previous agreements and these did not indicate you were experiencing difficulties meeting repayments prior to completing each application. There were a total of two missed payments and two partial payments prior to your last loan been issued and this is on both Greenwoods and Provident loans combined.
I can inform you Provident customers will generally have limited access to credit due to them having either a poor or a thin credit file. They are deemed to be a higher lending risk because of this. Customers’ low credit scores mean they are less likely to be able to borrow from mainstream lenders.
—————————————————————
I had 4 loans from them and became ill and had to reduce my hours at work i am also registered disabled! They were irresponsible.
Sara (Debt Camel) says
Hi Sonia, I suggest you ask if that is their final decision and if it is, send the case to the Financial Ombudsman.
Dave says
Little while since I’ve posted. Having a battle with QQ. Adjudicator upheld my complaint for 12 out of 13 loans. the value of interest due to many, many roll overs is about £11k. QQ deny and irresponsible lending at all and no offer has been made. Looks like it will go to an Ombudsman. Does QQ point blank refusing to discuss compensation mean that my claim is weak and could an Ombudsman reject what the adjudicator says? I’m a bit nervous over this as the figure is so large and QQ won’t cooperate. Other complaints were settled much more easily. Thanks.
Sara (Debt Camel) says
“Does QQ point blank refusing to discuss compensation mean that my claim is weak” no, it means your claim is large! No doubt they will pop up with an offer of something like 3 or 4k and hope you will feel so worried/desperate that you will take it they have saved themselves a large amount of money.
It sounds as though you were borrowing large amounts for month after month for years – that is a very strong claim.
“could an Ombudsman reject what the adjudicator says?” yes, but it’s very rare for the decision to be very different. Sometimes an ombudsman will “tinker”, in your case that could mean award a refund on all loans or on 10 loans say (I just made that number up without knowing anything about your case).
It’s normal to feel nervous, but this isn’t your first complaint and you know it’s a good one… so just sit back and wait for either a VERY good offer from QQ (well over £10k as they should be adding 8% interest) or an Ombudsman’s decision. Every month means the 8% added interest will be going up by about £70 on a claim that size.
Dave says
Adjudicator was in touch regarding my Wonga complaint on Friday. She just wanted to clarify what some of the payments in and out of my account were. i was expecting it to be around another week before i heard back but got her decision back just now.
she has said that wonga should pay back interest on loans 5 to 39. that’s better than I thought and is around £2.5k!!
Wonga have until 7th August to reply. How likely are they agree to this? Do they normally force cases to go to the ombudsman?
Neil says
They didn’t reply to my adjudicator by the deadline and he referred it to the ombudsman but within a week of that they made an offer of full refund plus 8% on all my 7 loans. Hopefully you will hear from them quickly.
Paul says
after seeing the devastating effect on finances due to payday loan companies. They should either, a) change their ways on lending, or b) be closed down permanently, which would be even better