The repayments on many loans from bad credit lenders are too high to be manageable so people get deeper into debt trying to repay them.
If you have an unaffordable loan, you can complain and ask for interest to be removed from your balance. If the loan has been settled, you can ask for a refund of the interest you paid.
This article describes how to complain, with templates. It is a variation on the standard approach for payday loan refunds – this works better where the loans are very large, longer-term and you only had 1 or 2 loans, possibly with top ups.
NB the complaints here are for “normal” unsecured loans. You can also use this approach for logbook loans.
There is a separate page for HP/PCP car finance affordability complaints. If you have a guarantor loan, read Refunds from guarantor loans as it’s very different, and the guarantor may be able to complain as well.
Contents
Like payday loan refunds – but you can get a refund for just one loan
A lender should have checked when you applied that a loan is affordable for you. The regulator says “affordable” means:
you can make the repayments without hardship or having to borrow elsewhere.
This is the same test as for payday loan refunds. It applies to most forms of credit, including large, long term loans and logbook loans.
The payday loan refund template letter has got tens of thousands of people refunds. That letter emphasises the problems that repeat borrowing caused. Because payday loans are usually small, it’s hard to get a refund if you only had one or two payday loans.
That sounds like bad news for these complaints about large loans, where you normally only have one loan plus possibly a top up or two…
But the good news is that because these loans are larger and longer-term, the lender should have made better checks before giving you the first loan!
So the letter here is for large loans.
Making a complaint and asking for a refund
Email addresses for lenders
It’s easiest if all communications are by email – free, instant and you have a copy with a date stamp to show the ombudsman. So here are the email addresses to use for the main bad credit, large loan lenders. There are a lot of small lenders including Credit Unions – if your lender is not listed you can still complain, look at the lender’s website to find how.
Anico complaints@anicofinancialservices.com
Avant Credit emailcomplaints@avantcredit.co.uk
Bamboo Loans complaints@bambooloans.com
Everyday Loans complaints@everyday-loans.co.uk
Likely Loans loans@likelyloans.com
LiveLend sean@chetwood.co
Loans 2 Go ps@loans2go.co.uk – also read Loans2Go’s interest rate – “outrageous” – how to complain
Moolr admin@moolr.co.uk
MyJar (in administration but you can still send in complaints) generalcomplaints@myjar.com
Progressive Money complaints@progressivemoney.co.uk
Quick Loans customerscare@quickloans.co.uk
Satsuma onlinecustomercare@satsuma-loans.co.uk
Savvy info@savvy.co.uk
Vanquis customer.relations@vanquisbank.co.uk
1st Stop customerservices@1ststop.co.uk
118 118 Money complaints@118118money.com
Here are some logbook lenders and bad credit card finance lenders:
Advanatge complaints@advantage-finance.co.uk
CarCashPoint complaints@carcashpoint.com
CarFinance247 customercare@carfinance247.co.uk
First Response johnf@frfl.co.uk
LoanOnYourCar customerservice@loanonyourcar.com
Loans 2 Go ps@loans2go.co.uk
Mobile Money complaints@mobilemoney.co.uk
Moneybarn complaints@moneybarn.com
MoneyWay complaints@securetrustbank.co.uk
Motor Kitty customercare@motorkitty.co.uk
Ramsdens (logbook loans) customerservices@ramsdensforcash.co.uk
Varooma complaints@varooma.com
If your loan has been sold to a debt collector, you send your complaint to the original lender.
I have included a couple of payday lenders there – Myjar and Satsuma – because they often give very large loans. If you borrowed a lot from those lenders, use the main payday loan refund letter. But if you just had one or two big loans, use the letters on this page.
For guarantor loans, there is a different approach – see guarantor loan complaints by the borrower and guarantor loan complaints by the guarantor for details.
Start the complaint – ask for personal information & get your credit record.
Get a copy of your current credit report saved immediately. You can get one from TransUnion. Do this first thing as lenders may later change the information on there, so you want a full one saved to show the Ombudsman later if necessary.
Then email the lender and begin your complaint. Put AFFORDABILITY COMPLAINT as the subject of your email.
You probably already know when you took out the loan and any top-ups. But it’s good to ask the lender to send you a copy of all the personal information they have about you. This will give you a lot of information that can be useful later if you have to send the complaint to the ombudsman, so ask for it right at the beginning.
Sample email:
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 attach copies of my bank statements and credit report from the time I applied for this loan/these loans. [delete if you don’t yet have them, but they will help your case if you do.]
Add extra information if you want – see below for some ideas – you don’t have to do this.
I am also making a Subject Access Request (SAR) for all the personal information you hold about me including, but not limited to, my applications, all credit and other affordability checks, a statement of account for my borrowing, and a record of all phone calls.
SARs are often sent out by post, make sure the lender has your new address if you have moved!
If you want an affordable payment arrangement now, add a sentence to the complaint saying this:
- this is often a good idea as these complaints can take a long while to sort out so a payment arrangement gets your finances into a safe place while this gets sorted
- a payment arrangement shows on your credit record, but if you win the complaint all negative marks will be deleted
- talk to a debt adviser such as National Debtline if you want to know more about payments arrangements
- a payment arrangement for a logbook loan will put your car at risk, so you may have to keep paying this.
While you are waiting for the lender’s reply, try to get copies of your bank statements from 3 months before a loan to three months afterwards.
Also read Lender says I lied. That looks at the various reasons why your application may not have been accurate. People have won complaints where they lied because they were desperate but there are other reasons too, so think what (if any) may have applied to you.
Other details you can add if you want
The template above is fine, you don’t have to add a lot more details. I am not even sure some lenders read what you write.
It is better to write a short complaint summarising your problems than send pages telling the lender stuff they already know. For example the lender doesn’t need a list of your loans.
But if you want you can include extra points in the initial complaint above. Or send the lender another email afterwards to add to your case.
When you have the SAR back from the lender, you can look for things that the lender knew but chose to ignore or didn’t ask about. See How Subject Access Request information can help an affordability complaint which has details about what to look for.
Here are some points that may apply to your case:
- my bank statements and credit record (attached) show that I was unable to afford the loan repayments.
- This was a large loan, you knew I had poor credit and may have been in a difficult position so you should have tried to verify details. If you had done this, you would have rejected my application.
- My bank statement would have shown that I was spending more than the application said. You should have noticed that some figures were too low or missing, for example from my application : x,y,z, car costs, TV licence, opticians and dental costs, presents, clothes, school uniforms.
- During a telephone call, your agent talked me into agreeing that some figures should be lower in order to get my application accepted.
- I didn’t include payday loans as credit commitments on my application as I thought that was for long term credit, but you could see I had several from my credit record.
- you made deductions straight from salary/had my child benefit paid to you which has caused me difficulty when I have needed to ask for a payment arrangement.
And points about top-ups:
- a credit check would have shown that my finances had got worse since the first loan
- you didn’t ask if my income or expenses had changed, and they had.
- you didn’t ask for bank statements so you could check if the new repayments were affordable.
- I had said the first loan was to consolidate debt, but you should have seen that this hadn’t happened.
- you increased my interest rate, showing you realised I was in a more difficult position but you did not check whether I could actually afford the new repayments.
The lender replies – go to the Ombudsman if a poor offer
You should get a response from the lender within 8 weeks. If you don’t, phone them up and ask when you will get it – a couple of days is worth waiting for but many responses are rejections, so don’t wait weeks for one, go to the Ombudsman straight away.
Don’t be put off by a rejection! Or if the lender saying it was your fault because your loan application wasn’t accurate. Sometimes a lender will send a long, complicated reply designed to make you look as though you should give up.
Lenders are obliged to do checks. For one small payday loan, these checks could have been brief. But for your large loan, the lender should have made sure they knew enough to be confident you could afford it, even if was your first loan from them. If they didn’t, send your case to the Ombudsman.
I suggest you rely on your gut feel – if you know repaying the loan caused you a lot of problems then it is worth sending the case to be looked at by the Ombudsman.
If you aren’t sure, ask what other people think in the Comments below this article. You only have 6 months to send the complaint to FOS, so it’s best to do this as oon as possible.
It isn’t usually worth trying to negotiate with these lenders, you are just wasting your time – one exception is Bamboo.
Send to Financial Ombudsman Service (FOS)
It’s easy! I suggest you use the “do it online” option to send a complaint to the Ombudsman. It asks you for all the details they need.
The main part of your complaint can be a version of what you sent the lender in your complait. Add any more details you want, including pointing out if you think there are errors in the lender’s reply. Also attach:
- the reply from the lender
- Trans Union statutory credit record
- bank statements starting 3 months before first loan.
Your complaint will first be looked at by an adjudicator. If either you or the lender rejects the adjudicator’s decision, it will then be looked at by an Ombudsman.
“What about a bank loan?”
The affordability test is the same – could you repay the loan without getting deeper into debt elsewhere. But the interest rates are lower than “bad credit lenders” so it’s harder to show that the smaller repayments are unaffordable – unless the loan was very large.
So it can be harder to win a case involving a typical bank loan, especially if your credit record was OK. But if you know the loan was unaffordable then give it a go and use the template letter here.
These affordability complaints do not apply to secured loans or mortgages. If you have a priblem with one of these, talk to your local Citizens Advice.
Need some help?
If you need help to complain, go to your local Citizens Advice, they will help for free.
Don’t use a claims management company. They are expensive and often incompetent. And if you still owe money, then you may just get the interest removed so you owe less… which is great, but you don’t want to have to pay a claims company in cash when you never had a cash refund to pay it from.
Can you get a refund from Provident?
Is a card or catalogue limit too high?
Examples of gambling & payday loan refunds
Verne says
Back in last 2020 I made an irresponsible lending complaint to 118118. I had taken 1 loan with 2 top ups with them and they responded by saying they acted accordingly and rejected the claim. The fraud threat was mentioned along with manipulation of incoming and outgoings. I referred it to the FOS, since then the FOS has investigated and said the 2 top ups should not have been lend to due to my circumstances and living in and out of payday loans etc.
118118 have now 15 days to respond to the investigator. Question is are 118118 generally accepting FOS decisions or do they contest? Are they responding to the FOS within the timeframes or is dragged out?
Sara (Debt Camel) says
They often accept the decisions.
Simone says
Hello Sara,
I just have a quick question. I’m just about to start my complaints procedure with Likely Loans, thanks for all of the advice on here, much appreciated! I’ve been on a payment plan with them for 18 months which I’ve kept up with, should I keep on paying while this is ongoing? Also, they are threatening to default me, if they do and I get a ruling in my favour, would this default be removed?
Thanks in advance, Simone
Sara (Debt Camel) says
If you win the complaint the missed payments and any default will be removed.
Have you repaid more than you borrowed? Are the current repayments unaffordable?
Simone says
Hi Sara,
Thank you for your reply! I’ve currently paid £4182.07 of a £4000 loan, I currently have £3449.33 outstanding to which I am making part payments of £75, original payment £211.99. Yes this is difficult but doable even now, although I will keep making part payments if I should. They keep threatening me with default as I’ve been on a payment plan since month 9 of the 36 month loan term. Simone
GH says
I took a £2500 loan with them May 2018 over 24 months. After about the same time period as you I went in a payment plan also. I still have a balance of just over £500. I made a irresponsible lending complaint to them, still making payments while they investigated. They didn’t uphold the complaint so I’m now waiting on an adjudicator to pick up my complaint. Been waiting 4months so far.
Good luck
Simone says
Thanks for your reply, good luck to you too for a positive response from your adjudicator. I put an affordability complaint in last week to Likely Loans, so I’m right at the beginning of the process but I discovered my loan was for £3500 not £4K, so I’m glad I’ve paid what I owed. Can see it being a long drawn out process but I’m glad I’ve done it. Keep me updated, everything crossed!
Emma says
My husband had his complaint against carcash point upheld by the ombudsman at the FOS.
He hasn’t heard anything from carcashpoint since the ombudsman final decision over 4 weeks ago. What happens if they don’t pay?
Thanks
Sara (Debt Camel) says
I suggest you tell your adjudicator that you haven’t been paid,
Have you phoned carcashpoint? If not, do this.
Also email nick@carcashpoint.com and attach a copy of the Ombudsman final decision and ask why they have not been in touch to pay it.
Sally says
Hi ,
I am in a similar situation about carcashpoint, adjucator ruled in my favour and gave carcashpoint point 2 weeks to reply , it has been 3 weeks now and had no reply , so contacted FOS and they said they would chase carcashpoint for an update , fingers crossed 🤞
Catherine says
Hi could you tell me how long from first submitting your complaint it has taken to get the decision? I sent one on carcashpoint on 2 March 2020 and I’ve still not had a case handler assigned.
Emma says
I Have had my complaint against Carcashpoint in for 2 years next month. It has just been upheld and waiting to see if CCP agree.
Don’t hold your breath even when it gets assigned as they ignore tequests for information and are deliberately obstructive.
Nick says
Hi.
Just a quick query. Has anybody gotten due compensation from everyday loans? If so how was your process? I’m currently 4mths into waiting for the FOS to investigate further. Is it worth sending them a message regarding my case or wait til the timeline elapses?
Keeli says
I would like to know if anyone has had any luck with Everyday Loans too. I thought I would be done with my repayments in March 2021 & was offered no interest on on 3 missed payments back in 2019 when I was not working and instead told they would extend my agreement. I was made redundant back in October but kept up with payments until January and it is only because of this that I have now found out that no good will gesture was put in my notes and my repayment plan has been extended by 6mths due to balloon interest! They want to keep me bound to this agreement based off of just interest, that is wrong. I have now written to complain to them and request a refund on all interest. They are the absolute worst, never again! This entire pandemic I was not made aware I was entitled to any assistance by them. Instead, they were offering me top up loans!
Sara (Debt Camel) says
Yes lots of cases won. But they drag a lot of them out, eg this recent one https://debtcamel.co.uk/refunds-large-high-cost-loans/comment-page-21/#comment-405057
Tom says
Hi all,
I hope this is the place for this question.
I have a £1500 loan with 118118 money which defaulted in January 2016 that is currently being looked at by FOS. The debt was sold on to Lowell and I am currently repaying Lowell monthly.
The question I have is that I appear to have this loan marked twice on my credit file. It appears as 118118 Money and is reported to all 3 agencies, additionally, it is reported as Lowell and reported to 1 agency. Does this matter? Should I ask for one of these to be closed so as to not show as 2 defaults? If so, which one?
Thanks,
Tom
Sara (Debt Camel) says
Sounds normal. Where the debt is double reported to a CRA, only one should be used for calculating your credit score. If you win the FOS complaint all the negative marks will be deleted.
Alex says
Hi Sara, I wanted to thank you for the guidance you provide on this website. I’ve received over £4000 from 1188 this weeks at the back of 3 large loans I had. There was no need to send my complain to the FOS. They offered to refund me all the interests paid on all loans and 8% statutory interest on the 7th week.
Martin says
Hi Alex that’s good news. Can you tell me please how long did you have to wait for the money to reach your bank after you provided them with your bank details? I provided 118 118 with my bank details last Thursday 28th January but I am still waiting. Ridiculous really they are quick enough to give you it when you take out a loan with them but when it’s your own money they drag their heels.
Paul says
Hi, I’d like to know as well as i’m in the same situation. I’ve had offer accepted, provided 118 with bank details (even though they already had them) over 10 days ago. Is there a specific day of the week they process payments?
Martin says
Hi Paul just to let you know unfortunately I am still waiting despite providing them with my bank details on 28th January. Good question can anyone advise is there a specific day of the week they process payments and a time also?
verne says
Hi, Just to add I am in the situation as you both.
I provided my bank details earlier this week only to get a response email saying it takes unto 14 day for them to acknowledge due to covid.
The original email say 14 days to process the funds upon confirmation of the bank details. So its takes 28 days in total to pay out? Have you been paid yet?
Keeli says
Hi Sara,
I have just written an affordability complaint email to everyday loans regarding them refunding me interest (for some context please read my reply under Nick’s post). I wanted to ask, do I continue making my £172 repayments (to avoid missed payments) whilst I am waiting for a response which I can no longer afford as I was made redundant and I’m on UC? Or shall I ask for a payment holiday or for them to recalculate my affordability?
Thank you for your assistance in advance :)
Danielle says
Sorry this is a long one so I will try to simplify it. I had 4 loans, 3 paid off one outstanding with avant and put in a complaint that went to fos. I won all 4 and avant sent money to me. Didn’t hear from them again then checked my credit report and noticed an outstanding balance. Turns out they refunded me for interest rather than take it off the balance. I have complained to them as the money is now gone and the fos are aware and are investigating. Avant have now sold the outstanding balance to asset investigations who asked me to set up a payment plan. I did this as I’m worried about it defaulting again and the clock starting all over again and now aci have emailed me to state they are disappointed that I did not fill in an i&e despite them having not asked me too and if I don’t they will take further collections activity. I’ve done some research and noted aci are keen on ccjs. I know avant are allowed to sell a debt but is it possible to get a ccj on a debt that was deemed irresponsible?
Sara (Debt Camel) says
So two separate points.
If the loan had not already been sold when the settlement was made, then I think Avant cocked up in giving you the refund and not reducing the debt. If for some bizarre reasons they wanted to do that (and I cannot imagine why!) then they should have made it VERY clear to you in their emails to you about the settlement. One thing you can ask them to do now is to buy the debt back from ACI.
But a debt remains at the moment. You should certainly complain to ACI that they are being unreasonable in saying you did not complete an I&E as they never asked you to. Also tell them that you are disputing the debt with Avant who did not handle the redress correctly. But it also seems simpler to set up an affordable repayment plan with them – if you do this a default should not be added to your credit record. What is the rest of your financial situation like, do you have other problem debts?
Danielle says
Hi Sara, thanks for responding. The loan had not been sold when the settlement was made. After I complained regarding not using the settlement to clear the loan they stated that they were unable to do that as it would have meant they would of owed me money after doing that as the settlement would of cleared the balance and then some. They also stated that they didn’t chase me after the settlement for the balance as I was in an IVA, but they knew I wasn’t and had failed that a few years ago as I had wrote to them and was paying them directly before the fos decision. I do have other debts which I’m hoping to get an f&f on over the next few months but obviously I don’t want to do a partial settlement on this one because the original 2017 default was removed so I don’t want it on my credit report for 6 years after the settlement. I’m just worried that aci will try and get a ccj even though it was deemed irresponsible to begin with
Sara (Debt Camel) says
If Avant they have refused to change this, send a complaint to FOS about it. Tell Aci what is happening. Make a repayment arrangement with them.
Tom says
Good morning Sara,
Today will be 4 weeks exactly since the acknowledgment date for 2 complaints I raised. Both companies advised that I would receive an update at the 4 week point (which is today) and I wanted to ask that, if I don’t receive a 4 week update, shall I just leave it until the 8 week point or ask them for an update?
I’ve left then to it, so far, as I know pestering them won’t speed up the process. However, as this is a point where they should at least tell me where they’re at with my complaint, should I ask for an update? Obviously, they have until close of business today, so I wouldn’t bother until Monday but just wondered what your opinion would be?
Many thanks
Tom
Sara (Debt Camel) says
I would wait until 8 weeks. The 4 week point means nothing.
Tom says
Thank you, will do 👍
lynne Byrne says
I am at present starting to look at my credit files as most of my defaults are at or nearly at the six year stage and should be falling off.
I have one problem which is with Likely Loans.They have just issued me with a default now, although I was unable to pay the loan back in full from 2017.
I have just seen the default on my credit file which was issued in January this year although I have not yet had a letter informing me of this.
What I would like to know is firstly,can I have the date of default re -set back to when I couldn’t meet full payments?
In addition, I am thinking of writing to them with an affordability complaint as they have added over £4,000 interest onto a £5,000 loan.
Which action should I initiate first or does it make no difference?
Sara (Debt Camel) says
A default should be added when you are 3-6 months in arrears. So a lot depends how much lower your payments were – if they were only token payments then that 3-6 months is usually hit in 3-6 months. If you are paying half, then it is hit in 6-12 months.
When you make an affordability complaint, you are not complaining about the high interest – you tend not to win these complaints as you knew what the interest rate was at the start. Instead you complain that the repayments were not affordable so you were unable to make them or you did make them but only by getting behind with bills or taking out more debt.
You can make both complaints at the same time. I would suggest not delaying the affordability complaint as winning that could solve the other one as If you win the affordability complaint all negative marks are removed from your credit record.
Emma says
I have just heard today that the adjudicator has upheld my complaint on 5 loans. CCP have tried to obstruct the process at every point so I don’t hold out much hope of it being resolved quickly.
Do they normally accept the decision of the adjudicator or does it go to Ombudsman?
Sara (Debt Camel) says
they have been difficult in quite a few cases – I hope they will accept yours
Wes says
I’ve had a complaint with satsuma, which has been picked up by an adjudicator. I’ve sent all my information in, to which satsuma did also, however the adjudicator noticed a loan they was paid off within the ‘14 day cancellation period’ so requested more information about that loan. Since then satsuma have sent back any information, just replied to the FOS that it’s taking longer due to Covid etc. Is there anything I can do to make them speed up as such?!
Sara (Debt Camel) says
When did the adjudicator ask Satsuma for thus information?
Wes says
He requested the extra information on the 1st December. I received an email on the 5th jan from the adjudicator saying satsuma have responded saying they were extremely behind due to the pandemic, but they had no issues gathering the original paperwork/information from the first point of contact from the FOS.
Sara (Debt Camel) says
I think over 9 weeks is unacceptably long. I think you should inform the FCA, Satsuma’s regulator, of this. the FCA won’t look at your individual case, but they will be interested in this sort of information and hopefully it may kick Satsuma into action.
I suggest you email the FCA at consumer.queries@fca.org.uk and copy this to joe.sweeney@provident.co.uk and Neil.Iveson@provident.co.uk
Subject: Satsuma (Provident – 700144) hasn’t answered a FOS query for more info after 9 weeks
Put in a few short detail about your complaint – how many loans you had, Satsuma’s rejection and the date you sent the case to FOS.
Say Satsuma have sent the case file over but your FOS investigator has asked for more information about a loan on 1st December and Satsuma have only replied that they are behind because of the pandemic.
Say you know the FCA will not look at your individual case but say you think this unacceptably long and you thought the FCA should know about this. If there is a particular reason you need this resolved as soon as possible, mention that.
Wes says
I’ll get into it straight away, thank you
Wes says
Sent the email and copied in the relevant people. Fca emailed back. Still nothing from
Satsuma.
Approaching a month since I sent an email to the fca. Emailed the adjudicator yesterday to
Ask for any update, and that I’m starting to get frustrated with satsuma, as it’s taken longer to get Information together on the extra loan than for the original loans they sent Info on.
But had no reply from him.
Lottie says
Hi Sara, FOS have confirmed that Varooma need to pay back the interest on an old loan that I took in August 2015 , along with all charges and 8% interest. The charges totalled £1045 and the interest in the loan was £5345 – the final payment on the loan was made 30.04.2018 do you have any idea how much redress I would get if they agree with FOS ? Many thanks
Sara (Debt Camel) says
On those figures, 1045 + 5345 = 6390 Plus about 25% extra in 8% interest (very roughly)
Lottie says
Thank you. I want count my chickens just yet. But good to know roughly.
Many thanks
Mandy watts says
Hi
I have a loan with bamboo which is currently with the priority team of ombudsman due to the first fact I am with Payplan dmp and the second fact they offered me 6 months refund payment once the loan was paid I asked them to take it off the loan now and stop all the interest which they refused hence gone to ombudsman, can they refund the whole amount if the ombudsman say to clear the loan is that ever a case at all thank you so much for your advice take care
Sara (Debt Camel) says
they offered me 6 months refund payment once the loan was paid
that seems an inappropriate offer to make to someone in difficulty!
How large was the loan? And what have you repaid so far?
Mandy watts says
5000 I have paid 1000 so far it’s over 60 months thank you
Sara (Debt Camel) says
So if that loan is upheld by FOS, your balance would be reduced to £4000.
Is this a normal loan or a guarantor loan?
Could you say how large the other debts in your DMP are? And how much you are paying a month to them?
Mandy watts says
Dmp is for 34k loans range from 2k to 10k I pay 300 a month all the loans have gone to ombudsman for irresponsible lending one has agreed full deductible interest the others got sent before Christmas I’ve lost 4 stone in weight haven’t been able to afford to eat some weeks so dmp has helped me a lot because of COVID my income changed thank you
Sara (Debt Camel) says
ok and the £300 a month is affordable? Not just better than what was before, but really manageable?
Tyler N says
Hello Sara,
I have a complaint with Drafty, they agreed with the adjucator decision to refund over a £1000.. 29 days ago but they still havent made contact? My adjucator isnt available until wednesday to ask and Drafty complaints team have never responded to me via email or phone call since the start of my complaint.
Do you know what happened next? Correct me if im wrong but i thought it was legally binding once they agreed with the adjucators decision?
Thank you as always!
Sara (Debt Camel) says
An adjudicator decision as such is not legally binding. But Drafty have accepted this decision so they have to pay up.
Tell your adjudicator by email.
What happens when you phone them up?
Do you currently owe them any money?
Tyler N says
Thanks for the info, yes i have emailed the adjucator but he is unavailable until wednesday and thought it would be sorted by now but now i know it isnt legally binding il just have to wait a little longer then.
Yes i owe them around £520 and the refund is over £1000
Drafty complaints email address have acknowledged recieving my emails but have never replied in 14 emails over the last year.
I have phoned customer service 3 times in the last week trying to stop the overdue payment texts/emails and letters they just say “Its been Esculated to the complaints team, they’re just very busy at the moment”
Just frustrating when 118 and Bamboo and Loans2go paid up within 5 days of agreement and Drafty still hasn’t after 29 days.
Thanks for the help again anyway!
Take care Sara
Sara (Debt Camel) says
oh very frustrating. Come back if it isn’t sorted in a couple of weeks?
Dana says
Hi Sara,
I’m down to my last loan now after winning my case against 118 118 money which is good, but I have just had a shocking discovery with Likely Loans, basically I was on a monthly plan for 6 months, significantly reducing my payments, due to unaffordability due to Covid-19.
But after a phone call today I have been informed of my new balance owed and it’s much greater than it was before I took the repayment plan, it is actually really shocking. I’ve started a complaint about this and expressed I really would have liked to have settled this loan at what the balance it was before I went on the repayment plan and they started piling on interest. Do I have a case here or is it normal for this to happen? They have been really unhelpful to me throughout the entire pandemic.
Sara (Debt Camel) says
It is normal for a lender to carry on adding interest in a covid-19 payment break. But did they give you the impression on the phone that they wouldn’t be doing this?
Have you sent LL an affordability complaint?
M says
Hi Sara,
I need some advice please. So after almost 6 months, Avantcredit have upheld my complaint (tbh, I had actually forgotten and given up hope after all the Amigo shambles!).
They will refund me my overpayments made to them and 8% interest. However as my debt was sold to Asset collections, they have told me that I should get any overpayment made to Asset collections back directly from them as Avant never received the money. Is this right?
Thanks
Sara (Debt Camel) says
No it’s not. AC are highly unlikely to agree to refund you any mony.
Tell Avant it is their job to resolve this. You don’t mind if they get the info from AC and get that account corrected or buy the loan back from AC but you want your payments to AC taken into account and you want the default on your credit record with AC removed. Say the complaint goes to the ombudsman if Avant don’t agree.
Steph says
Just wanted to say thank you Sara for your advice.
I put an affordability claim in to a lender who I had a current loan with, with an outstanding balance of just under £4K.
They did not uphold my claim but offered to deduct 6 x monthly payments off the end of the loan. I politely refused, and added up all the interest I had paid in all the loans I had had with them. This amount was £3.7k. I gave them all the calculations and they came back to me within a week to say they would not uphold my claim still but they are wiping the balance and giving me c £200 in refund. Perhaps I could have got more by going to FOS but I am very happy with this.
Sara (Debt Camel) says
A quick result you are happy with is a good result!
Tom says
I have just received my final response, from Bamboo, and I feel they have ignored a major factor when assessing my case. Whilst acknowledging my gambling issue, they haven’t factored in to my expenditure. In the chart they have provided, they have said that after my ‘normal’ living expenses (I assume this doesn’t include gambling) they said I had £175.84, of disposable income, and my proposed loan payment, from this, was £115.96. This left we me with £59.88. I could gamble this amount (and did) in a matter of minutes. They have advised they can’t uphold the complaint for the initial loan, or the subsequent top ups. Other things that they have mentioned are the fact that I always kept my credit serviced (these were always minimum payments though, and I had to juggle money around to keep my head above water).
They have offered £200, to resolve the complaint. However, they haven’t actually told me how much interest I paid, across all of the loans. I have asked for this information, before I decide my next move.
Could you offer your thoughts please?
Sara (Debt Camel) says
That doesn’t sound a good offer. If your debts were going up, that is a sign that top ups should not have been approaved.
Asking for information about what interest you have paid is the best place to start – Bamboo will often negotiate
Tom says
Hi Sara,
Just a quick update. I received a call, from Bamboo, who stated that (after review) they still felt they’d come to the correct conclusion. However, they agreed to my proposal of a 50% refund, which I am happy with. Initial offer increased from £200, to just over £500. I am happy with this and, to Bamboo’s credit, they were very polite.
Thanks for your help, just 118 118 to go now (who I think will not be as easy to deal with)
Tom
Sally says
Hi Sara ,
A quick update on my case regarding carcashpoint (CCP)
The adjucator has ruled in my favour that all 3 loans with them were unaffordable on January 13 and gave them until January 26 to reply but they had not replied back , so I contacted the adjucator again and she said she would chase them up , I got a reply from the adjucator today they CCP ARE AGREEING that 2 loans were unaffordable but the first one was affordable , the adjucator send them an email to tell them that she still feels that loan 1 was unaffordable too and given them until February 23 to reply . Fingers crossed 🤞 and hope to have a reply soon .
Loan 1-£2560
Loan 2-£800
Loan 3-£3060
Mel says
Hi, do you know if this applies to P2P lending like Zopa? Am I able to complain to them for irresponsible lending? Do you know if people have been successful when complaining to them?
Many thanks.
Sara (Debt Camel) says
they have only been mentioned a handful of times. I don’t remember anyone saying how they actually got on. SO give it a go and please come back and say what happens!
Laura says
After 118 118 agreeing with my investigators decision on the very last day they had til, I am not awaiting the payout.
They asked for my bank details on the Thursday and confirmed receipt of them on the Friday but said it could take 14 days, today is day 9 and still nothing. So they take the full 14 days or do they go beyond this?
Vern says
Did they confirm receipt of your bank details the day after?
I sent them mine but got an generic email saying it takes up-to 14 to acknowledge emails. I’m on day 7 and nothing from them. Once I get to the 14th day if nothing back I will have to get in touch with the adjudicator.
Laura Rutter says
Yes they did, the day after. The email said:
Good afternoon,
Thank you for your email.
Your bank details have been passed to the customer relations manager who will be issuing your refund.
Please not, as outlined in our response, this may take up to 14 days to reach you.
Regards,
Customer Relations Team
Sandra says
I took a loan out with 118118 back in 2016 for £2000.00 the interest was £4200.00, i’ve ask a debt company to sort this out for me, they’ve come back with a settlement of 118 118 saying they will not charge for the interest, but i will have to pay the capital which according to 118 118 i have paid £2000 and don’t owe anything , i’m totally confused.
Sara (Debt Camel) says
What interest rate was the loan and how many years?
So what is the settlement that has been proposed? Have you been given numbers or just a description?
How many payments of how much have you made to 118.
Sandra says
The settlement they have given me is they’ve taken the interest of £4500 off and i’ve just got to pay the capital, put the loan which was taken out in 2016 was for only £2000 and i’ve looked into my account and i don’t owe them anything, they say my balance is nil, the loan was over 2years
forgot to say 118 handed my account over Madison, and i’ve just been given a bill for £1500 from [a claims company]
Sara (Debt Camel) says
Did you repay the loan in the two years? Or did you default so they have carried on adding interest?
For a 2 year loan at 95% interest, the total you would repay is about 4500. That is 2000 borrowed plus 2500 interest.
Sandra says
As I had a loan for £2000.00, the ombudsman as removed the interest of £4500, and says i have to pay the capital, i have been paying £75 a month for 2years, I looked into my account with 118 118 and according to their statement i don’t owe anything, it’s now gone to redress, what are the chances of any money back.
Sara (Debt Camel) says
I am sorry but I need all the details on this loan. Please don’t just repeat the numbers you have said before.
You borrowed 2000 for a 2 year loan from 118. 118 is a brand name of the lender called Madison CF UK.
I need to know the total amount you have paid to them. Ignore if this is “interest”, just add up how many payments you made, so 24 payments of £190 or whatever it was.
sandra says
I’ve just had a email from Madison, saying i don’t owe 118 118 any money as they handed it over to Lantern and the interest has been removed.
Sara (Debt Camel) says
Yes but this doesn’t help, the numbers are needed.
How much had you paid Madison before the debt was sold? If you don’t know this, ask Madison for the number.
Have you made any payments to Lantern? How much?
sandra says
Two years @£75 a month with Lantern, Lantern say the balance is £4550.74, the interest is to written off which is £4225.00.
KH says
Hi,
I just have a question about interest ..
I had a loan with everyday loans, paid £313 a month from July 2019 for 9 payments and a £4k final payment.
Overall £2,969 interest paid, everyday have refunded the interest paid and calculated additional interest of £195 .. I used the interest calculator on the website and expected it to be more – I’ve queried it and they’ve paid it but wanted to check if it was worth going back to them again to query the interest?
Sara (Debt Camel) says
how large was the loan?
KH says
6k, I paid £8.9k in total
Sara (Debt Camel) says
Oh I see, you are querying the 8% calculation.
So the loan was settled in May 2020?
£195 doesn’t sound wrong to me.
Lottie says
Hello Sara,
I have heard from FOS regarding another loan in my favour. The amount of refund will be £6214.35 taken out August 2015 & repaid March 2018. They have been advised to pay £6214.35 plus 8% interest. Do you know how much I am Likely to get? Please
Sara (Debt Camel) says
The 8% should be 1700-2000 very roughly. Less 20% tax on that part.
Who was the lender?
Lottie says
Thank you, it was another loan with Varooma/ Greenlight.
Do you have any intel on if they have been know to go with FOS decision or if they refer to the next step of the Ombudsman?
Many thanks for all your help as always.need to ask about a CCJ too, for another company.
The CCJ was applied by Lowell – following a debt buy from Shopacheck. Who do I direct my affordability claim to? Moses or Lowell?
Thank you!
Sara (Debt Camel) says
I’ve not seen enough Varooma decisions to guess.
Shopacheck – complain to Morses. Say in your complaint you want the Lowell CCJ to be set aside. This one may be hard if Morses don’t have the details but see where it goes.
Lottie says
Brilliant thank you on both.
This site is invaluable, and I will be making a donation to CAB once I get some redress actually back :)
JC says
Hello sara,
I’ve recently sent an affordability complaint using your template to avant credit. I had 2 loans, both of £5000.
I received an e-mail saying that they are still investigating my complaint today, however it’s reaches the 8 week mark, which they’ve acknowledged.
I was just wondering if I should give them more time to reply with a final response before going to
The FOs?
Sara (Debt Camel) says
If they had said they expected to respond in another week or two, then it might be sensible to wait. But with no indication of the extra time they need, it seems likely that no-one has yet looked at your complaint. And many Avant cases have to go to the Ombudsman anyway if Avant doesn’t uphold them, so it may be a good idea to send yours now.
paul says
Hello, not sure about this with Satsuma loans?
I had 2 loans which I defaulted on, and complained to Satsuma, who rejected my affordability complaint so I sent to the FOS.
At the time of these loans I was also paying Provident £120 a week, which I didn’t believe they had taken into account given they are the same company. I have successfully had redress with Provident.
Anyway the FOS have rejected my appeal saying that they would not look at upholding the first 2 complaints on affordability 9even though I pointed out (Provident). The are saying I can escalate to the Ombudsman – but wondering if there is any point?
Sara (Debt Camel) says
how large were the Satsuma loans?
Pail says
£500 and £700 excluding interest.
Brian says
oplo rejected complaint. Off to FOS I go. I expect a long wait.
Jo says
I have just had 3x complaints upheld by the Ombudsman. They have notified myself and the 3x companies involved. 1 is final decision. 2 are provisional with a view to upholding. The one with the decision I have a payment due to be made in Thursday do you think in view of the final decision I would have to still make the payment ? Can companies still refuse to accept an Ombudsman final decision?
Sara (Debt Camel) says
A final decision is legally binding. I think you are safe to cancel that payment!
Catherine says
Hi I have a complaint in against carcash point (£5k loan and paid back £10k after 1 year early – should have been £25k in total over 5 years) with the FOS submitted back in 2 March 2020. Since then I’ve chased a few times and had a request for more information in November but heard nothing accept an email in January 2021 saying they busy. I did call at one point last year abs they refer to my complaint as complex so will take more time. My questions are: 1) anyone else been assumed as complex and what are the likely timescales? 2) anyone else had a compliant upheld against carcashpoint for one loan on the grounds of unaffordable lending due to gambling etc
michael W says
Hi,
i have an adjudicator currently investigating my 118 claim. my loan was sold to Lowell which was then paid off by myself with an early settlement figure in may 2020.
I was paying lowell for around 2 years and they reported every payment to them as missed payments on my credit file even though i was paying them the agreed figure every month.
If my claim is upheld will the missed payment damage on my credit file be removed?
Would 118 also need to sort this out?
Sara (Debt Camel) says
yes they do. But tell your adjudicator and say you would like their decision to say this explicitly as this may save hassle later.
Michael w says
Hello,
thanks for this answer.
will let you know the outcome once i get this.
stay safe
Dean says
Hi Sara ,
I’ve recently had a claim against 118 118 upheld on loan 1 for £2000..
However.. loan 2 wasn’t upheld with the adjudicator for £2800 a total of £4800 and interest mounting up to £8900.
I’ve sent bank statement 3 months prior to both loan dates taken out I’ve said I’m in a debt management plan now and in a even worse position before the loans taken out. I’m a compulsive gambler.
My bank statements for loan 1 clearly shows gambling and payday loans.
Bank statements for loan 2 doesn’t show any even tho I was gambling still . 118 wouldn’t know that I agree with that. But still can they still grove me a top up even tho with such bad credit rating and so many payday loans and credit cards with outstanding balances and payments?
I have documents from banning myself from betting shops and am on gamcare also so I can’t do any online that’s why there isn’t much gambling on loan 2
What would you do regarding loan 2??
Many thanks
Dean
Sara (Debt Camel) says
I think you should ask for the case to go to an Ombudsman.
dean says
Thank you Sara I love your website and always look at comments your such a ledge x
taytay says
Hi Sarah
I hope you can help. We claimed irresponsible lending against Oakbrook Finance and we won our case and they refunded every loan we had. We had no missed payments or negative credit reporting from them previous to now. We have checked our credit reports and they have listed our loans as partially settled and this has made our credit rating drop. It may sound like a minor change but we have worked hard trying to get rid of credit and claiming through the ombudsman and we were really surprised to see ‘partially settled’ instead of them removing the loan. Can you give us any advice. I have sent a message to the adjudicator with a screenshot of what Oakbrook has written. Thanks for any help.
Sara (Debt Camel) says
They didn’t have to remove the loan.ut it should have been marked as settled, not partially settled.
But partial settlement does not affect your credit rating.
taytay says
It is the only negative on the credit report which has dropped 70 points but either way it is not partial settlements – we didn’t owe them any money once finished, it was never behind in payments or lower than expected payments. I give up with contacting them so just gone back to the ombudsman and going to send Oakbrook CEO an email as to be quite honest we are pig sick of them. Thanks.
Shaun says
Hello all,
I submitted a complaint to Hitachi Finance for unfair lending in August 2019. They rejected it and I escalated it to the FOS in November 2019. However, I am ‘still’ waiting on any type of final response. The FOS have been in touch advising that they are ‘still working on it’. Anyone else waiting this long or does anyone know if there a limit on when I should receive a response?
Sara (Debt Camel) says
Has an adjudicator/investigator been assigned?
Shaun says
Hi Sara,
Thank you for your post.
Yes, an adjudicator first made contact with me in April 2020. In January though I was assigned a new adjudicator (no reason given). The new adjudicator said though that they did not require any more detail from me and would be in touch.
Thank you for any advice you can offer.
Sara (Debt Camel) says
ok, if that new adjudicator was more than a month ago, I suggest you contact them and ask about progress – point out the very long time you have been waiting.
Nick says
Hi
I’m still waiting for the FOS to get in contact/look into my case against everyday loans, they said an adjudicator was appointed to look at my claim 6mths ago but I still haven’t heard anything.
Is there a direct contact email address that I can use to get in contact with them regarding this matter. Thanks in advance.
Sara (Debt Camel) says
Phone them up and ask about progress.
Wb says
Just got my final response back from loans2go (hadn’t sent bank statements off as was unable. However did contact them during the week to say I’ll send them over, they’ve given me my final response but said I have 7 days to add any information)
They’ve rejected my complaint saying that it was affordable and the checks they done were acceptable.
My issue is, they’ve stated in the final response, that the figures I had given during the application didn’t add up to what was on my credit file. So they changed the figures to the more reliable figures from the credit file, whilst adding a 10% buffer. Now my question is, how come after this information being ‘incorrect’ as such, why didn’t they come back to me to ask for bank statements or more information as to why a few things didn’t add up?
Sara (Debt Camel) says
I suggest you send this to the Ombudsman.
Wb says
I’ve now sent off my bank statements, and as said before contained a lot of gambling. After your suggestion to send them off, I’ve now done that. Shall I wait for them to view this new information, which they gave a week to send to be reviewed (in their final response) before sending off to FOS?
Sara (Debt Camel) says
yes.
A Mal says
Hi, I took out a loan in February 2020 for £3000 and the interest on top was £1700 (59%) through bamboo. Would i be able to claim this all back or just the interest? if so how would i go about this?
Many thanks
Sara (Debt Camel) says
A claim for unaffordable lending results in a refund of the interest paid (plus 8% statutory interest on top but for a recent loan like yours that is going to be little or nothing).
If the loan is still ongoing, the balance is reduced so you only have pay in total the amount you borrowed.
The article above looks at what an affordabilty complaint is and has a template you can use if you think the bamboo loan was unaffordable for you at the time it was taken out.
Nisa says
I took out an everyday loan in 2018 for £5000 and interest is around £5000, its a 3 year loan which ends in August.
I took this loan out when I was struggling a lot (which was my worst mistake) my monthly payments are £284, which I have always struggled to pay. After reading all the comments, I have now made a irresponsible lending complaint to see what they say.
Even though my loan has not yet finished, I didn’t want to wait til August.
How long will I need to wait before I go to FOS?
Also is there a chance for me to claim the interest back
Thanks in advance
Mike says
Hi Sara
Do you know if many people have had success in getting refunds off Creation Finance at all?
Many thanks
Mike
Sara (Debt Camel) says
they have only been mentioned by a couple of people just starting complaints.
you should expect them to reject your complaint so it will have to go to the Ombudsman.
DO says
Hi,
Just looking for advice.
I have 2 accounts with Lowell, which were for defaulted Mobile Phone Accounts (Orange) in 2012/13
I believe they were irresponsible in the lending, Can I still make a complaint?
Sara (Debt Camel) says
I have not seen anyone win an affordability complaint against a Mobile co.
Frank says
Hi, I put in an affordability complaints with bamboo.
Got my final response from them today, which has been for them to reject the complaint and offer me £50 as a “good will gesture”. I had one loan with them for a 1,000 and paid back 1,380.
Does the fact they are offering me £50 , show that I have a case for me and to fight this further or should I just accept?
Sara (Debt Camel) says
That is hard to guess. But do you feel the loan was unaffordable? Did you send them your banks statements showing this?
Bamboo are sometimes prepared to negotiate so if there is a larger compromise offer you would be happy with, you can go back and suggest that.
Frank says
No they never asked to see any of my bank statements. They just done my affordability check going of the numbers provided and said my loan is affordability going by this. However at the time I was gambling heavily ( I’ve now stopped thankfully), and this would show on my statements.Would this be worth pointing out to them
Sara (Debt Camel) says
if you used the template letter from here it did suggest you sent bank statements.
I suggest you reply with your bank statements and point out the gambling on them. Ask them to reconsider their offer of it goes to the ombudsman.
Hallaga says
Just want to share I recently won an ombudsman decision in my favour against Progressive Money.
Sara (Debt Camel) says
Has anyone had a loan from Livelend? Not a refund, just a loan?
Chris says
Hi Sara. I currently have a loan with livelend
Jax says
Hi Sara, I have a loan with them. Is there something interesting going on with them?
DM84 says
Me too, haven’t got a bad word to say about them.
Sara (Debt Camel) says
No, I am just interested as this is an unusual sort of loan.
Tom says
Hi all,
Could anyone, who has submitted a complaint to 118118, please let me know of your timescales for when they responded with their final response? I’m approaching the end of week 7 now and, although I have persevered with my patience, I am starting to get a bit frustrated now. This is my final complaint and really want to bring this all to a close. I know that every case is individual but, just wanted to see how long people have waited?
Thanks in advance,
Tom
Jo says
My reply was 8 weeks exactly to the day, it feels like they leave it as long as possible just because they can.
Tom says
Thanks,
What was your outcome?
Tom
Jo says
I had 1 loan with them for £1200 (£2900 approx with interest)quite a few of my payments were late but they upheld my complaint and refunded all interest plus 8% and I had my money within a week, fingers crossed I hope you get a good outcome too.
Tom says
Thanks Jo,
Much appreciated! I’ll keep you posted.
Tom
Lottie says
Hi Sara, I just wanted to let you know Varooma offered £7709 settlement following FOS recommendation- without this service I would not be in this position. I will be giving a donation to the CAB. Also to anyone out there losing hope, hang in there. I still have a few more going through, but pleased to have two large claims now with others on going.
D Jacob says
Hi,
Did Varooma agree with adjudicators decision or an ombudsman decision? I have adjudicator uphold my complaint but awaiting Varoomas response now.
Thanks
D Jacob
Lottie says
They agreed with Adjudicator – which I am shocked at.because the adjudicator did tell they hadn’t done 1 area wrong, but they agreed all interest and charges, credit file amended and 8% interest. They had until 25th Feb but cam back today to say they wish to make an offer.I am really happy.
Dilmon says
That’s brilliant. Mine’s deadline is 02/03 so hopefully they will reply by then. Fingers crossed now.
Thanks for the info
Cheers
Lottie says
Good luck, I hope you get the redress you deserve:)
Annie Goodfellow says
Hi has anyone had any success with logbookloans. Com I only submitted it today and they have already acknowledge receipt the interest was huge 1000 loan 3000 interest I 2018 and I have lots emails where I had to delay paying and stating I wasn’t getting sick pay etc and cldnt afford to pay etc
Sara (Debt Camel) says
do you still owe money on this?
Lottie says
Hi, I submitted mine in August. FOS upheld my complaint against 3 loans £25k in Total interest. It’s now gone to the final stage of Ombudsman- but mine go back to 2009-2013 loans and they tried to say it’s out of time. I just hope the ombudsman agrees and also upholds. I think they will be a longtime – however if your 2018 they may say it’s recent so you may have better luck! Good luck with it :)
Jack says
I am currently in the process of a complaint against moneybarn for irresponsible / unaffordable lending
I have spoken with the financial ombudsman advisor today who is dealing with my case
My car was bought in Feb 2017 and is due to end next year! It was a 5 year loan, the original car price was £7,210 and the Apr was 37.8% giving me a total credit amount of £14,521.67p
I have £5000 left on my car to pay, with £1000 of this being in arrears,
The FO have advised that if the case was to go in my favour that money barn would take the car back and would give me a refund all any interest & charges paid minus the current arrears of £1000
I was wondering if anyone would know what amount I would have paid in interest so far? I’m trying to work out if it’s worth going ahead, potentially having my car taken back, but using the money refunded to buy a second hand car, but I don’t know if the money I would receive would be worth it or just continue paying the finance for a year, though I’m finding it hard to pay and have been for most of the agreement
If anyone can help me it would be much appreciated
Sara (Debt Camel) says
How much have you paid so far in total? Ignore if this is interest or capital repayments.
I think you have to be honest with yourself about the chance of you repaying £5000.
What do you think the second hand value of the car is now?
Jack says
Hi,
Yeah so the original car price was £7,210 and the Apr was 37.8% giving me a total credit amount of £14,521.67p
I have £5000 left on my car to pay, with £1000 of this being in arrears, so I’ve paid £9521.67 so far of the overall total
I could use webuyanycar and get £3000 for the car now if it was fully paid off, which currently isn’t the case, it wouldn’t be paid off until Feb next year as I have £5k left on it
I don’t know the price of the second hand car if I was to get one, that’s the thing I’m stuck with at the minute
Do I just continue to struggle for the last year of the finance and pay off the £5k, or do I proceed with the FO complaint and potentially have the car returned & my interest I have paid refunded
I’m just unsure on what I could have refunded should I do that option, I don’t want to be left worse off
Sara (Debt Camel) says
Can you afford the £400 a month it would take to pay off the current finance?
Have you actually added up what you have paid so far as you may not get the right number by trying to work it out from what they say you owe.
Jack says
I wouldn’t be able to afford £400 a month, my repayments are £246.12 or so, but I have built up £1000 arrears
I am in the position that my mum has offered to lend me the remaining balance needed at the end of the agreement / the arrears to pay if off and pay her back,
But I am just unsure whether it’s worth just going for the refund of interest and fees and then letting them have the car back and starting fresh with a second hand car using the money I would recieve giving me no monthly payment
Sara (Debt Camel) says
so a refund of the interest and fees would mean you didn’t have to make any more payments after that you you wouldn’t have to repay your mum.
But it’s hard to guess what you might get back unless you can add up what you have paid so far.
It would be very unusual for you to be worse off from a refund. If you think you would be, you can always tell FOS at that point you reject it and would rather carry on paying.
Chantal says
Has anybody had any experience with Ferrartum? I’ve put in a few claims to companies over the last 2 weeks and they’ve been the least responsive out of all of them. Safety Net Credit & Bamboo both upheld my claims and paid out within a week but I haven’t heard anything back from Ferrartum
Kirstie says
They settled with me within a week of me putting in claim.
Martin says
Actually, they were the fastest in my case. I have requested the statement of past accounts – it arrived after a week or so. Then it was super simple: complaint, redress offer next day, offer accepted, cash in bank same day. All in about 10 days, Their way of arguing was also quite fair: If the first loan was small, second large, they refused to refund the interest from the first but refunded all others. Considering the general impotence of the FOS I have decided to accept the offer
Nick says
Has anybody put in a claim against everyday loans? If so, how did you get on with getting necessary compensation? Been waiting nearly 6mths for the FOS to appoint an adjudicator to my case. Did everyday loans offer a fair settlement and ammend your credit score accordingly?
Michael says
Hi
I just wanted to share my experience with Bamboo Loans
I have accepted a ‘good will’ offer of £1200 as full and final settlement of my complaint.
Initial offer was £300 then increased to £649. I have paid £2491.79 in interest over two loans so I responded with a compromise of £1200 which they have agreed. Significantly less than full redress amount should my case have been upheld by FOS but I’m happy to settle and move on.
Very helpful advice , thank you!
Jax says
I found them very easy to deal with. Received my final response within a week of making my complaint and they removed nearly 5k of interest leaving me with a much smaller balance to pay.
Nands says
Hi all, I had a final decision made in my favour by the Ombudsman against Motorkitty. Its been a month, and they still haven’t answered my emails or got into contact? Not sure what my next steps should be? I did email the Adjudicator to mention this, bit also no reply yet….
Sara (Debt Camel) says
Go back to the adjudicator again. Be persistent.
GP says
The ombudsman has upheld my complaint against Avant. Any idea how long Avant take to settle the claim? Thanks
Nands says
MOTORKITTY _To say I am annoyed but not surprised is an understatement. I just had this reply from my Adjudicator after a final decision from the Ombudsman.
Any help or input will be greatly appreciated.
Motorkitty has responded back to the ombudsman’s final decision – they have informed us due being effected by COVID they were not able to respond back to the provisional decision on time. They have also informed us that they still disagree with the ombudsman decision and have stated they want to take this to the high court if we fail to review the decision.
As an final decision has already been issued – I have gone back to the ombudsman who made the final decision to clarify what her position will be on this matter.
Once I receive a response I will update you as soon as possible.
Sara (Debt Camel) says
You said on 17 Jan there was a provisional decision in your favour.
When was it made final?
Nands says
My final decision was received from the Ombudsman on 7th February.
Sara (Debt Camel) says
I am not sure if Motorkitty are just very upset about not being allowed more time because of covid-19 and asking FOS to review in the ligth of that.
Or if they are saying they intend to take this case to judicial Review. Which is their right, it is just incredibly rare. In over 5 years of affordability complaints I have never seen it done. It would be a pretty expensive option for Motorkitty to go for if they are just peeved about the timing of this case.
Nands says
Hi Sara, yes, its very strange but to be honest, as a company they are terrible, so not surprised. They are probably using it as a delaying tactic. Guess I’ll have to wait and hear what the Ombudsman comes back with. Thank you x
vern says
So today the £2k redress payment from 118 118 hit my account. I took the complaint to the FOS last year and they ruled in my favour. I can finally close the chapter on all the pay day loans, expensive loans and guarantor loans I have taken out in the past. Ive managed to get back 8k with the help from this site and Sara (amigo, satsuma, lending stream, sunny). I started over 18 months ago this journey and its been horrendous the waiting for responses and payments but finally its over.
This time next year I will be 40, debt free and my credit rating will be a lot better. Thank you Sara.
Good luck to all those who still waiting and keep the faith.
Nesta says
Hi Vern,
How long did 118 118 take to respond and agree with the FOS? I have had a decision ruled in my favour and they have 2 weeks to respond. Just wanted to check if they replied within the timescales as i notice many others have not had the reply in time from 118 118.
Thanks
Nes
Vern says
They tend to agree with the fos but email on the last day of the 2 week period to say that they agree with the decision. One they agree You have to email them your bank details – which you get an email saying can take upto 4 weeks to receive your money
Tom says
I have now received my final response, from 118118, and (unsurprisingly) they have rejected my complaint. However, their response is incredibly brief and very vague. They have not mentioned anything about the points I have raised, such as having multiple high interest credit cards, other high cost loans and gambling. I mentioned all of this as the basis for my complaint and why I felt the loans should not have been granted. The main points they make are that it was up to me to provide accurate figures, financially, and that I ‘accepted’ all of the T’s & C’s when I pressed ‘submit’. I am going to take this to the FOS, as I feel they have not addressed anything which I have raised. As it’s taken them nearly 8 weeks, to come to this conclusion, and the poor response, I feel I’ve just been batted off.
Vern says
Hi,
I was the same high volume of credit and gambling present etc. Send to fos and wait it out. They take all that into consideration.
Laura says
My FOS investigator has given Likely Loans a week to respond to her suggestions – that they uphold all 3 loans I had with them.
My question is how long do they take to respond, and do they tend to agree?
Thanks
Tom says
They responded to mine, within the given time and agreed with the adjudicator after rejecting my complaint at first.
PH says
Afternoon all,
I have had, finally (after submitting the complaint back in Feb 2020) a response from my adjudicator. I borrowed £5,500 from Everyday Loans and my adjudicator has written to EDL stating that they think I was lent irresponsibly.
Should I expect EDL to send this to ombudsman, or should I expect swift resolution with this? Does anyone have any experience of the decisions with EDL?
Thanks
PM says
How long have people waited for cases to be picked up by an adjudicator? I have cases with 118, Bamboo and Likely Loans that were logged with FOS 11 months ago and I’ve heard nothing. I escalated them yesterday and was told the cases will be assigned within the next 4 months?! That doesn’t sound right to me, so looking for other people’s experience please
Laura says
Hi, I waited 13 months for both my 118 and Likely Loans to be picked up. They were picked up by an investigator within a week of each other
Lea says
Hi
I know someone just asked a similar question but mines about final ombudsman decision.
Is anyone on here currently in the queue for final ombudsman decision ? Priority or not priority queue? If so how long been waiting?
Also if any ones recently had their case picked up by final decision ombudsman how long had you been waiting?
Everytime I ask them how they queue works for final decision ombudsman is it first come first served or another way …they ignore that question and answer all my other questions. If anyone knows the answer to that on here would be good to know too :)
Thanks
Lea