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?
Andy M says
Good morning. I’m a recent newcomer to this sight and it has been an invaluable help. I’ve submitted complaints based on the template letters to 11 different lenders. All have responded but for Mr Lender. I have received final decisions for 4 or 5 of them which have been rejected and i’m going to submit to FOS and I await response for others . However, I have just received an email from Sunny upholding my complaint and offering to repay all interest-£859, and it then says “Simple interest at 8%, calculated on the above figure, totalling £91.71” .
I am confused by this last figure-should it normally be 8% of the total figure for each year since the loan was repaid[I repaid it approx. March 2013?], or is it just a one off 8% interest payment. I’m wondering whether I should reply and ask them to pay 8% for each year, before I accept.
I would appreciate any advice. Many thanks
Sara (Debt Camel) says
It should be 8% per year, as you say. But 91.71 isn’t 8% of £859, it’s just over 10%. I suggest you reply asking them to check the 8% calculation as it isn’t right.
Andy M says
Thank you for the quick response. I have just emailed them and asked them to clarify. I will post the response as soon as it arrives!
Matthew Garnet says
Hi,
I’m trawling my bank statements and can see that I was making payments and receiving loans from MEM Consumer finance. I saw in one of the comments that it was part of another group but I didn’t make a note of the full name to complain against. Does anyone know the trading name of MEM?
Also, I’d like to add that this site and the comments from others have been fantastic and really helpful in starting this process – Thank You!
Louise says
Hi Matthew,
This is Payday Uk I can assure you of this – this is who paid the money in and came out from Payday Uk. As I have a complaint that is well under way with them.
Hope this helps,
Louise.
Lee Sharratt says
I have emailed 3 lenders in mid February. With the templates and statements. Thinking a nice response before Easter, but 8 weeks is up mid April. Do u think they may give me a response before then . Uncle bucks. Pounds to pocket . Mr lender too . Had confirmation that they have received my email
J says
Mr Lender seem to be very quick and efficient – I complained 23rd Feb, and after some negotiating I received a final response I was happy with on 20th March. Refund was in my account the next working day, just waiting for loans to be removed from my credit report. All the rest are still investigating. Be prepared for a lengthy process with Pounds to Pocket. Others may have experience with Uncle Buck.
Hope this helps. Good luck with it and keep persevering. Mr Lender gave me a final response saying they had done nothing wrong and no money would be refunded at first, but I kept negotiating and sent my credit report and eventually they upped their offer.
Linda says
Can you use this if you had payday loans and stood guarantor for somone evwn though you could not pay if they didnt i stood guarantor they didnt pay it did go to ccj all paid now
Sara (Debt Camel) says
How long ago was this?
linda says
Hi it was flm at the time then went to amigo around 6 years not sure went to ccj around two years ago thankyou
Sara (Debt Camel) says
realistically I don’t think you stand much chance with that as the loan was more than 6 years ago
John M says
Does anyone know how to get bank statements from Barclays from over 6 years ago?
They told me I could make a subject access request but now saying I can’t and I don’t know where else to turn to get these.
Thanks for any advice.
Lee says
I had a similar request from Lloyd’s and apparently they will provide you with 10 years worth of statements in your online banking.
Sarah says
Hi there. My Barclays accounts were closed years ago but I went into branch and asked for ledger records. They were able to print out statements for all that I needed . Hope this helps. I had to ask the manager though!! The lady behind the desk had no idea!! I had to have ID and all account details. ????
John M says
Sarah you’re a genius. Got exactly what I needed by asking in branch for ledgers
Carrie says
Wonga have contacted me to ask if I can provide a form from my gp confirming I was off work sick with anxiety and depression due to my financial situation. I have advised no but now they want me to send in copies of my sick lines. Is this normal? They said my complaint would be looked at separately from what the customer care team were going to do for me. I
have no idea what this means. I am behind with my repaymentime btw. Can anyone help?
Sara (Debt Camel) says
Many lenders have a separate team that deals with vulnerable customers. If you said in your complaint that you were unable to work because of mental health problems, they may be looking for something that will confirm this so you get transferred over to the other team.
Damian Blows says
Anyone had any dealings with ‘Paydayexpress’ got a response from them telling me to send a cheque or postal order for £1.00 for them to provide me a statement of account?
Sara (Debt Camel) says
Tell them you are not asking for your agreement under the CCA, you are trying to make an affordability complaint and you want a list of your loans. And send in a rather vague Step Two complaint now – don’t wait any longer.
A says
Does anyone have any advice?
I currently have 8 outstanding payday loans, some 1 month loans and others spread over several months. It’s at that stage where I’l be paid on thursday and if I pay the full balance on all of these I’ll be left with about £50 to last all month.
Is it worth me contacting each lender to see if a plan can be made? Or go direct to Stepchange?
I don’t want to take any more credit out and get further into debt.
Any suggestions on what to do next would really be appreciated!
Sara (Debt Camel) says
“I don’t want to take any more credit out and get further into debt.” quite right – that just leads to more problems.
“Is it worth me contacting each lender to see if a plan can be made? Or go direct to Stepchange?” whichever you do, you have to cancel the CPAs to the lenders with your bank asap. So you aren’t asking them for a plan, you are saying they won’t get paid unless they accept an amount you can afford.
With 8 outstanding, I definitely suggest StepChange. If it’s only a couple, you can negotiate yourself, but with 8 its too much hassle and you have too little wriggle room, it’s “this is what I can afford”, no real negotiation possible.
THen when affordable payments are sorted, look at making unaffordable lending complaints as the article above suggests.
A says
Thanks for the quick response.
How can I cancel the CPA’s?
Sara (Debt Camel) says
Talk to your bank – phone or secure message.
A says
Hi Sara, Thanks for your advise on this!
I have contacted all of the lenders this morning advising the difficulty I’m having, and 6 have responded and agreed to cancel the CPA’s and me pay a smaller affordable amount
Dan W says
Hi there,
I have a long history of payday loans dating back I would say atleast 8 years. I am unsure if he total amount of payday loans I have had over this time but I would say it was atleast 50 if not a 100. I was a student living in London with a minimum wage job, struggling with rising rent, bills, credit card debt and loans and I would say for atleast a few years I would take out atleast one payday loan a month exclusively with QuickQuid.
I was in a never ending cycle of payday loans often to pay for rent, bills, dept, uni equipment and food and for a time I had a gambling problem as a result of depression. Payday loans were a large contributor to that or atleast financial worry. I can’t think of a time where I got in serious trouble for not paying back a payday loan though a struggled massively to pay them back or to pay all my other depts and living expenses at the time especially when their APR was around 2500%!
I have sent your template to them requesting loan history and waiting for a reply. This is because my account history only goes as far back as 2016, was when I wasn’t so bad. Just since then there are 16 showing and totalling around £4000 or borrowing!
Is the fact that I was a student, paying high bills and other dept, suffering from depression and a gambling addiction all contributors to a payday loan refund claim?
Kind regards
Sara (Debt Camel) says
I wouldn’t wait for QQs list of loans. You have an excellent case by the sound of it going back many years. At the bottom of the complaint add that you have asked for a list of your loans, QQ have not yet provided them and you still want them.
QQ are currently refusing to pay out for loans over 6 years old. If they make you an offer of a very good refund on all the loans under 6. Years you will have to decide whether to accept that. Or send the whole case to the Ombudsman, where it is likely to be very slow. All QQ case involving loans over 6 years are on hold at the moment whilst some test cases are being discussed.
You have left a comment on a not very relevant article – the best place for further questions is on https://debtcamel.co.uk/payday-loan-refunds/.
Dan W says
So do I send them the complaint like step 2? Or do I go straight to a company to make the complaint? Also I am a bit confused as to which website or ombudsman to send my complaint to?
Kind regards
Sara (Debt Camel) says
Template letters here https://debtcamel.co.uk/payday-loan-refunds/. That also describes how to send your complaint to QuckQuid, wait 8 weeks for a reply and then how to send the complaint to the Financial Ombudsman (it’s easy) if QQ don’t make you a reasonable offer.
As I said, it sounds as though you have an excellent case – it may take a while but you should get a very good result. Just take it steady and come back when you have questions.
There are NO advantages to going through a Claims Company. They know less about these cases than me and the other people posting in the comments here. And they know nothing about your situation – read the step 2 template letter and ask yourself how a Claims Company could write that – they would have to ask you for all the information in it!
Katie says
I have received my final response from Satsuma
Loan 1 £600, Interest £479
Loan 2 £600 Interest £419
Loan 3 £700 Interest £692
Loan 4 £800 Interest £731
Loan 5 £2,000 Interest £1984 (current loan)
They are repaying interest of loans 2-4 a total of £2119 and applying it to the current loan
Which is fine but they say I still owe £1200 on this loan!
Is this right?
No mention of removing any of this interest?
Sara (Debt Camel) says
If you have borrowed £2000 for the last loan and made one payment of £332, then if all interest is removed (which is what Satsuma should do) you would actually owe £1668.
Katie says
Yes that’s what I thought and then the £2119 they are repaying for loans 2-4 would pay this off.
Sara (Debt Camel) says
… and give you a few hundred extra as a refund. I suggest you go back to them and say you want the interest removed from the last loan, it was so much larger it should clearly have been counted as unaffordable, and if this is not done you will be taking the case to the Ombudsman.
Katie says
They are saying that this last loan of £2000 WAS affordable due to what I put on my application! They are not paying loans 1 and 5. I understand the 1st but if 2-4 are being deemed as unaffordable then why not 5?
Sara (Debt Camel) says
I don’t know but I suggest you say you will be sending the complaint to the Ombudsman if they don’t reconsider and include the last loan.
Josh says
Hi Sara,
Quickquid agreed with my adjudicator’s decision and were given 4 weeks to contact me via email.
It has been 11 days so far and still not heard anything, do you think it’s worth contacting them? And if so, who do I contact about it and what do I quote to them?
I provided my banking details to the adjudicator when I signed the settlement form.
Also I have just noticed on my settlement form it is too Casheuronet… would I contact them, or quickquid?
Thanks Josh
Sara (Debt Camel) says
I suggest you sit back and wait. Chasing this now is unlikely to speed up the payment.
Jen says
Hi has anyone had dealings with 118118 money where they have accepted a counter offer, offer came in yesterday of all interest plus 8% on 1st loan, and removed from credit score, nothing on 2nd loan, 2nd loan is current I’ve already paid 1550 to them but have proposed they take the refund as a full and final settlement of loan 2, both loans were 2000 to start with, I repaid early with a different loan, on 1st 1 making refund offered 957 plus 8%, I really want the 2nd off my credit score as I now have a default with them, just too see if they have accepted a counter offer, I requested this yesterday from them, thanks
Jen says
Should have said they said refund will be paid to my bank not toward current debt
Kev f says
My adjudicator gave Wonga a deadline to refund loans 3-26. They gave them a deadline to dispute or give any new evidence and Wonga didn’t reply. The adjudicator then gave them a further week extension and still no reply or acknowledgement from Wonga so he said it will be passed on to the ombudsman,
My question is how long would be a rough estimate to be picked up by ombudsman as Its already been 6 months to get to this point
Sara (Debt Camel) says
2 or 3 months – but several people have had Wong a come back in the first few weeks and accept the adjudicator offer.
Ben says
I’m in the same boat, Wonga made a counter offer which was pitiful so it got passed to the queue for the Ombudsman on the 5th March, I rang yesterday and was told its still in the queue. Be prepared for a loooong wait
Kev f says
Just an update
Had a phone call from the adjudicator to say that an hour after he sent an email to inform them that he has passed it on to the ombudsman due to still not replying after the deadline Wonga decided to call him and say they will pay the full amount requested in his findings and they will refund my bank account with 1349.58 so just need to wait for it to land in my account
Thanks Sara and everyone who contributes to the page
AK says
I was one of those who first received a much lower than the adjudicator’s findings counteroffer, rejected it, the case went to the Ombudsman queue and week later Wonga accepted the adjudicator’s findings. 10 days after signing the settlement form £11k landed in my account. Good luck!
Rob.J says
Hi,
So far.
Piggybank / Peachy / MrJar & funnily enough Pounds Till Payday have all been the easiest to deal with. All paid out in good time and reasonable amounts. I could have gone for more with PTP / Northway but couldn’t be bothered going via OAFS for months.
Lending Stream got back to me quickly with an offer email over a month ago but have not paid out any idea how long I should I wait before sending to FOS?
Payday UK have said they’re not going to refund anything and only has 6 loans but I need to double check as I know there was many more BUT that being said they might have been via Payday Express / PDUK (Could anyone advise so I can check how the company I paid money to would show on my bank statements and also would I need to send separate emails to all three companies even though they are all really the same?)
Still waiting on Wonga / Moneybox / 1 Month Loan & Fortress / Safeloans.
Uncle Buck & Quick Quid have been sent to FOS.
If anyone can shed any info on the above that would be great and I’ll be happy to do the same.
Good Luck with all your refunds and hopefully you’ll get some of the silly amounts we’ve all paid back
Rob.
tom price says
Hi Rob
The easiest way I found to do this was to download all statements for past 6 years into a *.csv file. then import it into Excel – format the data as a table. This gave me the ability to pick all transactions that were listed (credit and debit) from the relevant companies and then filter them out. It produced a full list of all transactions for each company. As it was from a back statement it also showed the amount of loans taken- when – how much was paid back. If it is an irresponsible lending compliant it will list all of the loans taken out each time to pay another back.. This is what I have sent to each of the companies
Sara (Debt Camel) says
“Payday UK have said they’re not going to refund anything and only has 6 loans but I need to double check as I know there was many more BUT that being said they might have been via Payday Express / PDUK (Could anyone advise so I can check how the company I paid money to would show on my bank statements”
Tom has given a technical answer, but I think most people just read the bank statements and make a note of the lenders names and dates – ask if if you aren’t sure which lender is using a name. eg MEM Consumer finance is Payday UK. Express Finance (Bromley) is Payday Express.
Payday Uk may be right with the 6 loans if you rolled/deferred some of them a lot – it feels like extra borrowing to you but its the same loan to their system, Have you asked them for a statement of account/
” and also would I need to send separate emails to all three companies even though they are all really the same?” PDUK is just shorthand for Payday UK. Payday Express is the same company but a different brand and its best to send a seperate complaint about them
J says
Update on my reclaim situation.
Had a response in just over 4 weeks from PDUK accepting irresponsible lending on all three loans. All interest refunded, with 8% statutory interest added and 20% tax deducted.
Total refund: £1444.67!!
For anyone else dealing with PDUK, they are fairly prompt. I sent bank statements and credit report when asked (I sent through all bank statements relating to the lending/payment period, not just the 4 months they asked for – I think this helped).
I’ve now received refunds from Mr Lender and PDUK, with Mr Lender removing all loan information from my credit file too. PDUK loans will drop off by the end of the year anyway so I’ll leave asking for total removal with that one.
Wonga, QQ, P2P, Ocean, Speedloan and Money Shop left to go.
Thanks so much again Sara – I don’t think I’m ever going to stop saying that! To everyone else, keep at it. Stick your ground if you think you have a good claim, and follow all the advice on here. You’ll get there.
Lee Sharratt says
I’m awaiting uncle buck, wonga, pounds to pocket, mr lender . Been a month not heard anything. Ferratum anyone experienced?
J says
I know Wonga and P2P are notoriously slow, but Mr Lender are usually prompt. Perhaps give them a call to chase this up?
Richard says
Really frustrated with P2P. I’ve got a complaint against them regarding a top up loan at a time when i’d have taken out thousands in a few months and already had several payday loans. I told them I believe the loan should be frozen while this was being investigated as it was unaffordable.
They got me to fill in the income and expense form and I made an offer of what I thought I’d be able to afford going forward and they have defaulted me! So that’ll be on my file for 6 years. Hopefully I’ll win my case and it’ll be removed but it’s the last thing I need at the moment with my mental state as it is.
Sara (Debt Camel) says
Annoying but as you said this will hopefully soon be removed. Really not worth worrying about.
tom price says
Anyone had dealing with Avant Credit- I am dealing with this for my Mum. Sent an email yesterday complaining about affordability issues. Today got a response to say basically they checked everything and saw no problem. I have also raised complaints with other Payday lenders (7) should I send avant straight to the ombudsman or wait for responses from the others and so it altogether?
Sara (Debt Camel) says
Avant typically reject claims. Send it now. No need to wait for other replies, they aren’t relevant.
Louise says
Oh avant credit. They cashed a cheque the proof has been sent and not paid in to my account this would have cleared the balance? I spoke to my adjudicator yesterday been picked up by fos within two days and he is on to it straight away along with my complaint. It took them 12 hours to dismiss my complaint they are terrible. Worst I’ve come across.
Andy says
Is there anyway of get bank statements for free from Lloyds bank as they want to charge me £10 for each month I request and I could do with several months worth
Lee says
You can login online and get the last 10 years worth free in PDF format.
Andy says
Thanks but I cannot login as I closed the account in 2015
Sara (Debt Camel) says
Contact the bank and say why you need these ie for a payday loan complaint. Going into the branch often works.
Or you can pay £10 for a Subject Access Request, asking for all your statements between dd/mm/yy and dd/mm/yy. From 25 May this will be free, no £10 charge, see https://debtcamel.co.uk/free-access-data-gdpr/
Sarah says
Hi Andy,
Just thought I’d let you know when I was putting in my complaints last year I needed to get all my statements from Lloyds going back to 2009 but it was three accounts. I just went into the branch and they printed them off for me with no charge at all. I must have been in there an hour waiting as there must have been at least 1000 pages that they printed but they did it without any problem
Natalie Paterson says
had my 8 week reply from wonga, they said they upheld my case on only one loan out of 23, just plucked one out of the air i think, i told them i did not accept their offer sent on the 8th then i sent the case to the ombudsman on the 9th march, i got an email today from wonga saying they have not had a response from me about the complaint and as a result they have closed the complaint.
cheeky sods so i sent an email back saying i did reply on the 8th of march and did not accept the offer and ive sent the case to the ombudsman,
we will see if i get another offer from them, probably not but not to worry anyway as case is at ombudsman.
will let you all know how i get on.
AK says
Strange, I didn’t inform any of my payday loan providers when I sent the cases to FOS including Wonga. No-one closed my cases.
Natalie Paterson says
i know ak ive not heard of anyone having a case closed and its only been 2 weeks since they sent their offer to me, a bit cheeky i thought.
Sara (Debt Camel) says
It’s irrelevant if they “close it” – you always have 6 months to take a complaint to the Ombudsman.
Jon says
Update:
I had 3 complaints to Sunny, 118 and Wonga
Sunny have settled and written off the £1000+ I owed them.
118 have agreed the last loan shouldn’t have been allowed and written off the debt. They are refunding me the extra I paid, plus 8%.
Wonga came back with a contemptable offer. So that’s been sent to the FO.
John M says
247Moneybox gave me nothing and pretty much didn’t even look at my complaint (didn’t even send my statement of account) so I told them I was sending it to FOS and they have now come back stating they wish to resolve with me and what I think is a suitable offer.
I have told them I can’t advise this without a statement of account and they should send this first.
Anyone else had this kind of thing with 247Moneybox?
luka says
from what I’ve seen and read, your very lucky they have came back with an offer, most have to go to the FOS before they get a reply.
Kara says
Sara, I was talking to the FOS
about my Quick Quid & Womga complaints as both involve loans older than 6yrs. They said I should consider dropping the older loans if I want things to progress more quickly. What isn’t clear, though, is whether they can still look at the older loans as being part of my borrowing history? What I mean is if I drop the 1st 3,Wonga loans can they look at the following 6 on the basis that they are my 4th-9th loans with Wonga as opposed to 1-6? I know they often tell lenders to refund all loans except the first 1,2 or 3 so I want to ensure that by dropping the oldest 3 I’m not losing out in 2 ways. Does that make sense?
Thanks.
Sara (Debt Camel) says
Yes that makes sense. You can ask the Ombudsman to confirm that they will take the older loans into account, even if they only award a refund on the more recent loans.
Jayne says
PDUK & Wonga have I till the 6th April to get back to the adjudicator with a week extra if needed.
Do they normally get back to them within the time frame ?
Thanks
Smithy says
QuickQuid have until 4th April to come back to the adjudicator who has upheld my case in full (minus 1 loan which is over 6yrs) anyone have any experience how they are likely to respond ? Thanks so much
Linda says
Hi anyone had any recent experience waiting for an ombudsman I had 2 complaints referred. One was picked up really quickly within a couple of weeks the second is still in a queue and it’s been 3 months now which seems a really long wait. I do call for updates but there’s never any movement. Just wondered if this was the norm
Paul says
Hi, one of my complaints went into the queue for an ombudsman on the 7th nov so nearly 5 months now, I’m wondering if certain lenders go to a set group of ombudsman. Mine is payday uk and I’ve called for updates and just told it’s waiting to be assigned to an ombudsman still. Frustrating when you hear some people getting results within a couple of weeks but it’s a free service who do an amazing job so guess you just have to wait it out. Good luck with your complaint.
Linda says
Thanks Paul mine is Safetynet Credit. Maybe like you say certain lenders are looked at by different teams. Still a long time to wait though. Five months is a stretch hope it gets picked up soon and good luck. Thanks for your reply
Sally says
Hi Linda,
Safety net credit complaints are picked up by a team that only deal with that company because they are a different kind of lender to other payday loan companies so it does take a bit longer. I put in a complaint to the FOS at the end of October 2017 and it didn’t get picked up by an adjudicator until beginning of Feb 2018. It’s now waiting to be picked up by the ombudsmen as the adjudicator agreed with Safety Net Credit.
Ryan says
Hi, I have had my first reply from the FO adjudicator, who is only asking Satsuma for £50 worth of interest to be repaid back on loans 5-7, and nothing for loans 1-4, when total interest across all 7 was £452… (over the space of about 8 months)
I was hoping for something nearer half what I paid in total interest, is it worth me mentioning this or is it be unlikely that anything will be done?
Thanks
Sarah says
If your not happy with the outcome, tell the adjudicator and list the reasons. That’s what I did. With mine they looked into it and still didn’t agree so I asked for an ombudsman to look at it and the ombudsman upheld all loans
Southern fool says
Anyone know how long quicquid take to pay out once an acceptance of an offer has been sent to them? I accepted it last week and the fos emailed them accepting it and copied me in on Friday. They have quoted 28 days which seems ridiculous
Steve says
It took 5 working days from FOS emailing Quickquid to receiving my refund. I also email support@quickquid.co.uk to prompt them along. Not sure if it made any difference but once you receive a confirmation from Quickquid, it was in my account half an hour later.
Cally says
Hi Southern fool,
Currently in the same position as you – how long did you wait for a refund in the end?
Cheers :)
Emma Appleton says
Is it worth negotiating with Satsuma or going straight to FOS? They have sent me a cheque today for one loans interest but ignored the other five.
Sara (Debt Camel) says
Well you can try – if they haven’t explained why they ignored the other 5 loans, why not ask?
Dan says
I have followed all the instructions as stated on the website to claim back charges with wage day advance this included asking for all loans I have borrowed and then following that the reason I am making the complaint.
This was there response:-
I am currently investigating your complaint.
I am writing with regard to you having only just found out you could make this type of complaint. Could you please elaborate on this point and let me know where you found this information.
This will help me to establish your circumstances and ensure that I do get the right outcome for you.
This reply came right on the 8 weeks,
Dan
Sara (Debt Camel) says
I suggest you reply saying where you first heard of these refunds and found this website eg from a friend, relative, saw a link on Facebook etc. There are no wrong answers.
Eva says
I had the same. I told the guy I first heard about this on the radio and then looked at it online. I then went on to explain again why I find the loans unaffordable. The next day I had final response upholding all my loans except first two and removal from credit file.
And they refunded loans over 6 years old too. Very easy to deal with them
Dan says
Do they just ask for bank details in order to put the refunds back in bank account?
Cheers
Eva says
The 8 page final response said that if I want to accept the offer to email my bank details. Had the money in my bank within a week and credit file deleted within 2 weeks.
Lewis Coles says
Hi
Just had an offer from payday UK for 5 loans totalling £665 refund. Does anyone know if they usually make a low offer to shut you up?
Sara (Debt Camel) says
How many loans did you have overall? Do you know what the total interest you paid was?
luka says
has anyone had any recent dealings with 247 moneybox after an adjudicator found in your favour?
My adjudicator has found in my favour upholding 35 out of 40 loans.
Are they likely to put up much of an argument etc? How did you find them (247) after the adjudicator found in your favour?
Lisa says
Hi,
24/7 did not respond to my adjudicator and it is now in the quest for an ombudsman decision.
luka says
that’s what I was expecting, they are probably the worse company to deal with
Matt says
Hi there, thank you for this site. I am wondering if it is possible that you can lose an “offer of goodwill” from a payday lender (in this case Mr Lender) by going to the Ombudsman? Basically they have offered as “gesture of goodwill” to cancel the interest on my final loan. I think this is quite a good offer as I have only had 3 loans with them and my case here is nowhere near as strong as it is with several other lenders (Wonga, QuickQuid and Payday UK).
Accepting this offer would leave me with a balance of £152 to pay on a £550 loan that I took out back in November. On my previous 2 loans I had paid a total of around £250 interest. Ideally I would like there to be no balance to pay at all, but this £152 is still far better than it would have been.
My question is, if I go to the FOS could Mr Lender retract this offer leaving me with a lot more to pay? Or, is it likely that the worst case scenario is that the FOS says no and I can still have the opportunity to pay back the £152 whilst buying me some more time to boot. With the possibility they’ll even find all or some of loans 1/2 unaffordable leaving me with no balance (ideal outcome)
Finally- would you say that taking a weak-ish case to the FOS will “cheapen” your other complaints if you have several much stronger cases already with the FOS
Thanks! :)
Sara (Debt Camel) says
“I am wondering if it is possible that you can lose an “offer of goodwill” from a payday lender (in this case Mr Lender) by going to the Ombudsman?” In theory it’s possible, but it doesn’t seem to happen in practise.
But let’s get a feel for whether you do have a case for the other loans. Can you say how large loans 1 & 2 were? And what was the gap between paying off loan 1 and taking loan 2, and the gap between loan 2 and loan 3?
“would you say that taking a weak-ish case to the FOS will “cheapen” your other complaints if you have several much stronger cases already with the FOS” no definitely not.
If you would have problems repaying the £152, you could ask Mr Lender for a payment arrangement.
Mandy says
I had a goodwill gesture from ferratum, sent it to the fos they didn’t uphold my complaint and when I asked if I could still accept the goodwill gesture ,my adjudicator said it was up to the company if they still wanted to give it me as they don’t have to . Lucky for me the company obliged .
Chrus says
For anyone pursuing a complaint with SafetyNet Credit
They have just found in my favour and refunded £2325 of interest paid plus 8%
Worth noting my current payday loan situation was caused by gambling addiction if anyone is in the same boat
And although they deemed the loans affordable due to income they stated because of my high gambling expenditure they were unaffordable
Chrus says
For anyone worried about pursuing a claim when they have had or do have a gambling problem I advise you should do it. Especially with safety net credit
In my emails to them I clearly stated that as they had access to my account they should have seen the large sums of borrowing and gambling transactions and as such should not have been willing to continue to lend me money month after month. Despite the gambling being my bad it’s clearly irresponsible lending to continue to make it so easy for an addict to fund his addiction. The money returned from them along with several other companies will clear my debts and hopefully an able me to finally face up to my issues with a clean slate and a hopeful future
tom price says
Hi Chris
I started a claim against them last week, (10 days since email sent) how long did it take for them to respond to the initial email? all the other companies I have complained to have responded apart form ladder loans…
Chrus says
Safety net waited till literally the last day of the 8 week period to send me the final response mate
Lee says
I had a final reply form Payday UK today, I had 7 loans in total paying about £1400 in interest. They have said my first 4 loans were affordable even though he last one of them was rolled over 6 times. They gave me another loan the month that the balance was cleared and claim that that was responsible lending. I’ve sent the response over to the FOS does anyone have any idea how long after they start looking at it will I hear of something happening? Do they work to a timescale at all? Cheers
Louise says
I had the same. My interest was shocking. I sent mine was picked up after 2 days and they be asked them for information
I now have to collate the bank statements and send by 9th April. They are quick so far but I think this is the first stage. This is one of the largest ones and I won’t drip it.
Bob says
Can someone let me know please if it is possible to claim back on loans over 6 years old? I had quite a few between 2008 and 2012 but don’t want to waste my time if no one else has been successful. Thanks.
Sara (Debt Camel) says
Some lenders are already paying out. Some are currently arguing test cases with the Ombudsman so the lender will reject and the case at the Ombudsman will be very slow. What lenders did you use?
Bob says
Hi Sara thanks for the reply. I used paydayuk, wageday advance, CFO, payday express and wonga. I actually emailed Wonga in Nov 2014 asking them if I qualified for redress to which they never replied so maybe with them this might work in my favour?
Sara (Debt Camel) says
Payday UKI & Payday Express are often paying out on older loans. There have been a few reports that Wageday Advance are too.
CFO is in administration and I am not sure there is any money left to pay refunds – talk to the Financial Ombudsmna to be sure.
Wonga are currently disputing over 6 year cases with the Ombudsman, so expect this one to be very slow.
” I actually emailed Wonga in Nov 2014 asking them if I qualified for redress to which they never replied so maybe with them this might work in my favour?” Possibly! You can send them a complaint now arguing that they should have replied and informed you of your right to take the case to the Ombudsman. As they didn’t, you want them to look at your case now and treat the 6 years as starting in Nov 2014. The problem would be if they produce their reply by email or letter that you don’t remember receiving – in that case there may be nothing you can do.
Spencer says
Hi,
I had a number of Payday loans from all the major players between 2013-2015.
I’ve just heard back from Payday UK, who say they believe they borrowed to me responsibly. As my Credit Report at the time would have showed a CCJ (and a default by the time the last two loans with them were taken out), I’ve taken this to the Financial Ombudsman.
I’ve also heard back from CashEuroNet (Quick Quid & Pounds to Pocket) from whom I had 6 loans, 5 of which were over £800 and would have accounted for over 50% of my monthly income…going up to over 70% for one of them. Again I had a default on my file all through this period. They’ve offered me a refund of £716 in respect of the interest on the last (and largest) loan I had from them. Again I’ve taken this to the FO arguing that all the others were unaffordable and irresponsibly borrowed to me.
Is it worth notifying either lender of my decision to go to the FO to try and negotiate with them?
Thanks,
Spencer
Sara (Debt Camel) says
I always think its worth telling the lender, it’s just a quick email, but don’t expect much negotiation to start. QQ sometimes make a larger offer.
Saf says
Hi,
I sent a reply to the FO as you suggested…The reply I received was…
Thanks for your email.
In order for us to look into your complaint, we need to know the dates when each loan was taken. As stated in my previous email, we can only look into loans taken out after 18 March 2016 which is when the business became regulated.
If your loans were taken out before this time, we cannot look into it.
If you have any questions, please contact us.
Yours sincerely
Mass claims consultant
Financial Ombudsman Service
Can you help pen a reply to them to avoid me getting the same reply back again?
Many Thanks for all your help and support on these matters to date.
Sara (Debt Camel) says
I understand that this has now been sorted and the Ombudsman is looking into this Cash Converters case.
Shaun says
Hi,
I had a loan in 2012 with mini credit, went from 100 to 1050 in 3 months. I then had a ccj against this that is still on file and was satisfied within a year.
Kapama must have brought this debt despite the Ccj being sorted and have been chasing for this periodically with an email every so often.
The CCJ drops off file in March next year but I am looking to get a new house.
I complained to kapama and they replied saying they see no evidence of a payment being made to update their system (clearly they won’t becsuse I haven’t and I paid the ccj) I have the ccj number and they are asking for proof. All I can give them is the number code for the ccj and the evidence it was paid through my wages (it was over 1050 at this point due to court charges)
I need the report updating from these guys. I feel they will say if I sent the info that isn’t enough proof.
What can I do?
Thanks
Steve says
Hi,
If anybody could explain/give me some advice it would be much appreciated. I took a £4000 loan out over 36 months which would’ve meant me paying back £6432.84 in total. I have currently made 22 payments totalling £3931.18 and have 14 remaining. I requested a settlement figure and was shocked/disappointed at the result. I was given £2172.15. This was only giving me a saving of £329.51 even though it was going to be paid 14 months early. Does this sound right? When I took the loan I also got quoted for taking the loan over 24 months which would’ve meant me paying back £5567.28 in total. So if you take off what I’ve paid currently from that, it would leave £1636.10 and I’m even paying it earlier than 24 months! Any clarity would be great. Thanks, Steve
John says
Hi all,
Has anyone had any success at the FOS, by sending in payslips as proof of income instead of bank statements for the older cases over 6 years old ,2008 to be precise.?Having problems obtaining old bank statements due to account having been closed.
Kara says
I sent in payslips instead of bank statements as my bank said they couldn’t go back further than 6yrs and I asked them 3 or 4 times. My complaints are still with the FOS. However, I asked my bank again the other day and they gave me the usual reply about not having kept anything older than 6 years and when I asked
if they were absolutely sure they suddenly said they could get older statements through their archives. I’ve asked for 2007-11 and they’ve taken £10 from my account so I’m hoping to receive them soon. Just keep asking!
John says
Hi Kara, Thanks for your response.I will keep on asking the bank for my old statements.
adele adams says
Quickquid have upheld complaint an offered £24 late fees. However I paid £976.52 in interest. Worth going to FOS? I presume so as its not too risky. I am accepting my jar offer on 4 loans (out of 12) of £184.72 as thats too much of a risk for me to lose/gamble with. The other loans interest is only £136 and they said they wont look at the other 10 loans which are older than 6 years. I have sent Payday Express/Payday UK and Lending Stream to FOS as they didn’t uphold complaint so no risk there.
Sara (Debt Camel) says
there isn’t a risk in taking a complaint to the Ombudsman and ending up with less. It just doesn’t happen.
Debbie says
Loans at home have said they can’t send me a statement of loans as there system doesn’t let them.they told me the loans over the phone. 11 loans in 3 years with all rolled over.a lot of interest paid .can they do that ?
Sara (Debt Camel) says
Well does it matter if you have the details? Do cross check them to your bank statements though as they don’t sound very competent!
Sarah says
Hi Sara,
What happens when PDUK refuse to look at loans older than six years, then they allow the FOS to look at the older loans and then PDUK refuse to let them look at them. I hope that makes sense but it has confused me
David mallory says
Hi Sara. You said to stop safety net credits payment they take automatically. Will this effect my credit rating. And if I claim will it effect it. I looked I have borrowed every 2 weeks off them since July. So does that count as rolling a loan over. As soon as they take it. I borrow it as I need it for bills. And they can see also hat my family have been putting monehbiny account on weekly basis to keep me float but they still just lend every time i ask. Even 2/3 times a day.
Sara (Debt Camel) says
Making a claim will not affect your credit rating.
Stopping payments to them probably will. But
1) you don’t have any sensible alternative. You can’t complain and carry on borrowing. If you don’t stop paying you will just have to borrow again and again and again and will be in the same position in another 6 months
2) if you win your complaint, even for just the last month, not necessarily a full refund going back to the start, then any late payments/defaults that result will be removed from your credit record.
Joe b says
Good morning to you all
I’m wondering if anyone can help?
I have had an adjudicator uphold my complaint with payday express and he told them they must pay back 12 loans interest wise, 8% simple and remove theses from my credit file. He gave them a deadline of 28th March 2018, but no response!
My question is does anyone else have any experience of Payday Express, are they likely to disagree or not respond?
Many thanks in adavance for any replies
Sarah says
Hi Joe,
I haven’t had my complaint with Payday express dealt with yet as the loans include ones older than six years. I can say from the experience from the many complaints I have put in with the FOS many of the creditors have not responded in that 28 days and have taken a couple more weeks to agree or disagree with the recommendations of the adjudicator. Out of about 8 complaints that have been dealt with and completed so far only 2 came back within that time, 5 were later by a couple of weeks and the one that took a bit longer was “chased” by the FOS but the FOS assured me that if they didn’t respond with and agree or disagree my case would be referred to the ombudsman they did have an extra two weeks but did respond and disagreed with the adjudicator so my complaint ended up with the ombudsman anyway which did take a little longer but the ombudsman did uphold my complaint. It’s just really a waiting game, the FOS are really good and you can always call them after the bank holiday to find out what’s happening. A catalogue company has been the worst for me as adjudicator upheld all 5 cases in October and they didn’t answer until the end of January. In my opinion quite a few but not all lender like to take their time I’ve been waiting for redress calculations from the catalogue company for nearly 11 weeks.
Sally says
Just after some advice please! My complaint against lending stream was upheld by an ombudsman on the 23rd march I sent my acceptance in the 27th march what happens now?
Natalie Drinkwater says
Hi Sally,
I’ve just had the same thing. The FO will send correspondence to the comany, telling them that they have upheld your complaint, you have signed the acceptance & that they are to contact you directly & pay you within 4 weeks.
Sally says
Thanks! Lending stream are by far the worst company I have dealt with! Always drag there feet. Hope I hear something soon! I was hoping that they would give me a break down of everything as I don’t trust that they would give me the correct refund
John C says
Sally, brace yourself for a wait. Lending Stream will send you a breakdown in around 20 days. Then they will pay out either on day 28 or just before. Awful company. Pleased you got a result
Gary Santer says
Hi
Looking for some advice, I complained to 247moneybox they have not upheld my complaint although as a gesture of goodwill going to write off my outstanding balance of £677. I have had many loans with them on top always maxing out each time on top of other numerous loans. I’m not sure whether to send to FOS or not?
Sara (Debt Camel) says
How many loans before? How much interest did you pay excluding the last loan? The last loan, how much did you borrow and have you made any repayments?
Gary Santer says
Hi Sara
Well I didn’t have how many loans and they’ve wiped my account info on their site. I believe 3 or 4 but I know it was retaken almost immediately and I had used them a few years ago and defaulted then, they were all paid the following month bar my last open with them which is being paid via Payplan. The last loan was 400 and they all increased from what ever the initial loan was. I’ve made two repayments so far.
Sara (Debt Camel) says
Ok so the offer to write off the last debt is only actually worth 400 less what you have paid to it so far.
You can’t really tell if this offer is ok or not without knowing the details. I suggest you reply that you need a statement of account for all the loans you had from them. Then, with the facts, you can make a decision. At the moment you would just be guessing. If I had to guess I would say that it isn’t good because most people tend to under estimate in their mind the interest they paid – the brain isn’t good at keeping a running total!
Also is getting the default on the last loan removed from your credit record important? If it is, check that is being offered.
Gary Santer says
Ok thank you I’ll go speak to them, they have said they’ll remove the detrimental effects
I shall return when I have more info thank you
Gary Santer says
Hi Sara
So they have come back I had as follows
2011
7 loans june to December capital total £2,075 Interest Total £706.85
2012
6 loans Jan to July capital total £2,490 interest total £934.72
could not borrow till 2016
2016
5 loans June to November Capital Total £1,500 Interest total £895.20
Outstanding is £677.03 of which interest is £278.40
I am paying via Payplan.
So total Totals over all
loans: Fees £ 145.00 Total Interest £ 2,176.77 Total Capital £ 6,065.00 Total Repaid -£ 7,705.62 Current outstanding £ 681.15
So the question is do I go to FOS?
Thanks again for all your help
Sara (Debt Camel) says
If you want a refund for the first set of loans you will have to send the case to the Ombudsman as almost all of them will be over 6 years – and the case is likely to be very slow.
Is the outstanding loan included in your “5 from June to November”? If it is, can you separate thm out – loan 1 borrowed x, interest paid x, loan 2 etc and for the last loan say how much you have paid so far, direct or through Payplan.
Gary Santer says
Hi Sara here goes
30/06/2011 TOTALS: int £ 18.92 cap £ 80.00
29/07/2011 Int £ 46.05 cap £ 155.00
31/08/2011 int £ 85.67 cap £ 230.00
30/09/2011 int £ 111.17 cap £320.00
31/10/2011 £ 142.91 cap £ 400.00
30/11/2011 int £ 138.45 cap £400
30/12/2011 int £ 163.68 cap £490.00
31/01/2012 Int £ 158.22 cap £490.00
29/02/2012 int £ 97.61 cap £ 300.00
30/03/2012 int £ 138.45 cap £400.00
29/04/2012 int £ 142.91 cap £400.00
31/05/2012 int £ 108.06 cap £300.00
29/06/2012 int £ 101.31 cap £300.00
22/01/2014 fee £ 50.00 Int £ 188.16 cap £ 300.00
31/07/16 int £ 40.00 cap £ 200.00
31/08/2016 int £ 69.60 cap £ 300.00
30/09/2016 int £ 96.00 cap £ 400.00
31/10/2016 int £ 51.20 cap £ 200.00
04/11/2016 Status of nov 16 loan issued
06/04/2018 fee £ 15.00 int accrued £ 278.40 cap £ 400.00 bal £ 677.03
Totals over all loans:
Fees £ 145.00 int £ 2,176.77 cap £ 6,065.00 rep -£ 7,705.62 bal £ 681.15
All the early loans had £6 or £7 fees on them also.
I have only made two payments so far via ARC of 16.37 each
Apologies for the long one lol so hopefully this is what you were after
Sara (Debt Camel) says
ok, so 3 of the earlier loans are under 6 years – total interest c £350, would be c £500 with 8% interest added. You could send the complaint to the Ombudsman and say you want all your loans to be refunded – that would be very slow – or you could say you will settle for those that are under 6 years to be refunded but you want the patter of borrowing over 6 years to be taken into account, so you would be very likely to get a full refund on the 3 in 2012.
Then the very big gap effectively makes the second group of loans to be considered completely seperately. They are effectively offering to remove the interest from the last loan and refund £400 minus 2 lots of £16, which is £368.
That is about £110 more than the interest you have paid on the other loans in the last group. But the Ombudsman may decide you shouldn’t be refunded for the July & August 16 loans – probably the Sept 16 loan would be refunded as third month in a row and each month getting bigger.
My guess is you would get a couple of hundred more by sending it to the Ombudsman but only for the under 6 year loans. Obviously a lot more if you want all the loans considered.
Gary Santer says
Hi Sara
Ok thank you for that so I think I ought to go to the ombudsman with the stance you say about the most recent, I know earlier lot of loans I almost went to DMP then got a loan to clear some outstanding balances. They then wouldn’t lend to me but I obviously tried in 2016 and got one.
Sorry am I best first going back to money box and saying what I am to do and then go to ombudsman? Or hows best to play it.
Thanks again
Sara (Debt Camel) says
Moneybox 247 don’t usually negotiate, but a couple of people have re[ported getting a better offer after they send the complaint to the Ombudsman.
Viks says
Hi Sara I have started my claim and contacted the lenders. So Far My Jar responded with an account statement showing only 3 loans when I had numerous with them. Later rectified and they apologised. Quick Quid have asked for bank statements and pay slips. I have only sent the initial email they have not provided me with a list of all my loans. What’s the best way forward do I provide this? It’s all 3/4 years old.
adele adams says
Quite surprised My Jar made an offer yesterday and money was in bank today.
Stephen says
When did you raise your complaint with My Jar? I raised a complaint with them (along with several others) but not actually expecting much as most loans were just over 6 years ago, so only expecting a couple of hundred pound back from them, was hoping they’d deal with quickly due to the fact it’s only a small amount.
Sara (Debt Camel) says
I doubt whether any lenders try to deal with the small cases more quickly. When yours gets to the top of the pile it will be looked at.
Lou says
Does anyone know if an ombudsman has ever disagreed with the adjudicator? Only my adjudicator only upheld my last loan with P2P and i disagreed and sent it to the ombudsman to look at.
Sara (Debt Camel) says
oh yes, this certainly does happen – fingers crossed for you
Lou says
Thanks Sara. I don’t know how she got to that conclusion. The ombudsman picked up the case last week and I sent in a few more points as to why I disagreed and she asked more questions.
Mandy says
My adjudicator didn’t uphold my loans I asked her to look at them again and she still didn’t uphold them . I asked for them to go to ombudsman he asked me for some more information then told adjudicator to go back and look at all the information I had sent in .Got a phone call on Thurs from adjudicator saying she had changed her mind and upheld 7-21 loans so don’t give up ????
Andy says
Hi all , I have adjudicatior upheld my complaint with bamboo , but they’ve disagreed and gone to ombudsman, has anyone had success or rejection from these at ombudsman level, many thanks andy
Sara (Debt Camel) says
as you can tell from the lack of replies, not many cases have involved Bamboo. Can you come back and say how yours goes?
Lou says
Advice please. In 2015 I had loans with onstride, spring coin now known as avant and also QQ and P2P all at the same time. Could I claim for irresponsible lending from the loan companies? I have already complained about the pay day loans.
Sara (Debt Camel) says
Yes you can. Use the payday loan template but change it to remove the word payday, be clear you only had one or two loans with this lender and say why they should never have given you the loan eg what was on your credit record and how the monthly repayment was unaffordable.
Also don’t be put off if your complaint is rejected, send it to the Ombudsman.
Alex oliver-griffiths says
If 24/7money box will not pay anything back but have offered to remove all defaults from my credit file? Should I still go to the ombudsmen? Especially if getting my credit file in order is important?
Sara (Debt Camel) says
Would you like to summarise the case? How many loans? What were the gaps between the loans, from repaying one to taking out the next? Also how many defaults on which loans?
Liam says
Hi all I would just like to thank you all for your posts, I came across this thread late at night after reading an advert on reclaiming interest from payday loans, I used the templates from this site and sent my first email on February 4th I also sent the second email on the same day as I had found all the loans I had taken, Wongs replies to me 5 days later with a list of all my loans dating back to 2011, exactly 4 weeks in I recived an email saying sorry for the delay but my complaint is still being considered then today which is 2 days short of 8 weeks I received an offer for £5k plus 8% Interest, (the interest is subject to basic rate tax) I have accepted the offer and will let you know how long it takes to get the money. I really want to thank the people who have written on here because if I haven’t seen other people had received a refund I would not have tried my self so thank you
Sara (Debt Camel) says
If you are a basic rate taxpayer you can get up to £200 of the tax deducted back from HMRC, see https://debtcamel.co.uk/ppi-payday-refund-get-back-tax/
Sara (Debt Camel) says
Other brands include Vanquis, Moneybarn and Satsuma.
Jonnym says
I have had several roll over loans with some companies and some just odd loans here and there. It stemmed from a gambling addiction and when it all came to ahead within one month I took out 6 loans with 6 new companies I hadn’t used before.
I have put my cases forward and had a response about a single loan I had with satsuma from the adjudicator rejected my complaint stating it was affordable. My issue is previous to that satsuma loan being approved I had already ongoing payday loans and been approved by 3 other lenders with a 2 week window. Should basic checks of been carried out they would have seen the other companies I had loans with. This loan straightaway went into debt management with all the others. If I take this to the ombudsman am I likely to get a different decision.
The complaint was raised only in Feb. I had adjudicator call me to say he had picked it up and the next day emailed a response. It seems like a very quick decision in comparison with stories I see on here and lengths of time etc. Any advice would be great thanks
Sara (Debt Camel) says
Just how bad was your credit record? Were there missed payments and defaults, or just payday loans? How large was the loan from Satsuma? Also where was Satsuma in the “within one month I took out 6 loans with 6 new companies I hadn’t used before” sequence – if they were number 1 or 2, your record wouldn’t have looked nearly as bad as 5 or 6.
Jonnym says
Yes credit file already full of defaults and missed payments. It was number 5.Took 1 with payday uk for £300 then week later on Same day sunny loan for £500 and uncle buck for £300 then 9 days later another sunny loan £300 then 12 days later the satsuma one for £400.
Sara (Debt Camel) says
I think that is worth taking to the Ombudsman then. Write out and send to the adjudicator to be passed onto the ombudsman: why you think the adjudicator’s decision was wrong – list all the defaults and missed payments on your credit record in the year before your Satsuma application, then the loans you had been given in the month before the satsuma application.
Sally says
I am so annoyed! My case went all the way to the ombusdsman and they have upheld my claim on loans 3-29 the interest needs to be refunded. However lending stream have passed my details on to a debt company who have called me today asking me to repay money on loans 28 and 29 (which were still outstanding)
They have received my acceptance form and bank details on the 27 march I don’t understand this company!!!
Sara (Debt Camel) says
Tell your adjudicator. This will all come right in the end, but what a hassle this company is.
Louise says
Can anyone help please? I had a final response from payday Uk who couldn’t make any decision in relation to the loans as I had to produce my bank statements and then they would look at it again – I did this but I had no response so I wasn’t waiting around so I went to FOS. Within 4 days I got a letter saying it is being dealt with and to send in bank statements by 9th April – does this mean it is the start of the process being looked at? They have requested information from Payday uk. Can I email my information to FOS?
Is it still a long process from this stage onwards. I am new to this.
Many thanks Louise.
Sara (Debt Camel) says
This is the early “getting everything ready to be looked at” stage. Yes you can email everything in. From here it will probably be 8-12 weeks until an adjudicator looks at it.
Louise says
Thanks Sara. That’s great I will do that this week email them all the documents etc. Do they send offers in between the payday lender – payday uk it is?
If not that’s fine also as its £7k in interest paid to this one.
Chris says
Evening all.
I sent in my first complaint to the FO 4 weeks ago, subsequently 4 more have gone in on the past week as the offers weren’t great.
I’ve referenced the original claim (FO reverence) on all 4 in the hope they get packaged together for the adjudicator. Is this likely to happen, or will they be looked at in turn.
Thanks
Sara (Debt Camel) says
From what I can tell, they don’t get packaged together – that’s good because otherwise they would all move at the speed of the slowest lender to respond. But when one is picked up, that adjudicator will sometimes pick up other ones too.
adele adams says
Payday Express have sent Final response. From 12 loans they have stated 3 were lent responsibly and 9 unable to determine no offer of redress. They said if i sent the bank statements requested they would look further into this. Shall i send the bank statements of just go ahead and sent to FOS?
Thank you again
Chris says
I sent everything and had a decent offer made and I accepted. no harm in sending if you’re comfortable to and filing with the ombudsman at the same time.
If a decent offer comes in, you can always retract the file with the ombudsman.
Cheers