The repayments on many loans 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. Many people have used them and got refunds – see the comments below.
If you win your complaint you will get the interest refunded or – if you still owe a balance – removed so you only have to repay what you borrowed.
The complaints here are for unsecured loans.
You can also use this approach for logbook loans and car finance. But for car finance you may have a better option than an affordability complaint, so first read HP/PCP car finance problems.
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
Refunds from unaffordable loans – what is unaffordable?
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 applies to most forms of credit, including large, long term loans, logbook loans and car finance.
It isn’t just for “bad credit” loans – but as bad credit loans have very high interest they are more often unaffordable.
For payday loans, it’s hard to get a refund if you only had one or two payday loans. That is because those loans are usually small so the lender doesn’t have to make good checks for the first few loans.
But the good news is that for larger and longer-term credit, the lender should have made better checks at the start!
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
Koyo loans info@koyoloans.com
Lendable complaint@lendable.co.uk
Lifestyle Loans info@lifestyleloans.co.uk
Likely Loans loans@likelyloans.com
LiveLend support@livelend.co
Loans by Mal (Monthly Advance Loans) Complaints@loansbymal.co.uk
Loans 2 Go ps@loans2go.co.uk – also read Loans2Go’s interest rate – “outrageous” – how to complain
Moneyline headoffice@moneyline-uk.com
Moolr admin@moolr.co.uk
MyJar in administration but you can still send in complaints – email myjar@harrisons.uk.com with CLAIM as the title
Progressive Money complaints@progressivemoney.co.uk
Quick Loans customerscare@quickloans.co.uk
Satsuma now in a Scheme – see Provident and Satsuma Claims for what to do.
Savvy info@savvy.co.uk
Sunflower customer.relations@vanquisbank.co.uk put “Sunflower affordability complaint” as the title
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:
Advantage 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.
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 also want the CCJ that I have for this debt set aside. [delete if you don’t have a CCJ!]
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.]
I didn’t know that the lender was supposed to check that I could repay the loan without having to borrow more. I only found out in [2021] when I saw a newspaper article in the Sun/an advert on Facebook for refunds/a friend said they had made a complaint/whatever. So I am complaining within 3 years of having found out that I have cause to complain. [delete if all your loans are less than 6 years old. This explains why you haven’t complained before. It’s only an example, don’t copy it, change it so it really covers what happened to you!]
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 for doorstep loans?
Refunds from cards and overdrafts
Gambling & affordability complaints
Ossie says
Hey Sara , my complaint about everyday loans was upheld by the adjudicator who asked them to refund the interest I paid on 2 out of the 3 loans I’ve taken. However everyday disagreed and it’s gone to an ombudsman to now rule on, do you know how long this process usually takes ?
Thanks
Sara (Debt Camel) says
I am afraid it seems very variable
Gaz says
It took my case about two months for the final decision. I won my case for 4 loans and have been awarded over 15000. I’m just waiting for the funds to be deposited in my account. They have said it could take up to two week. Merry Christmas
Chris says
Hi Gaz,
Did you use the affordability template?? If so did you add further details?
Thanks
Chris says
Hi Sara
Just want to find out if I’m correct.
118 had partially upheld my complaint (they agreed to 3 out of 6 loans) so I’m taking them to FO for the other 3 that they think it was ok to issue to me.
Just want to find out if FO would reject my complaint will I still get refund for 3 loans that 118 agreed with me to initially ?
Thanks for your help !!
this is answer from 118:
Please note that the above refunds are being offered in full and final settlement of the complaint and it is important that you understand that the offer is being made in settlement of the whole complaint and not just the agreement in question. Should you/your client wish to accept the offer, please reply to this email to confirm your understanding, along with providing your bank details for the refund to be processed.
Sara (Debt Camel) says
You can’t accept a refund on 3 loans and take the rest to FOS.
FOS will review your full complaint but they typically start from a position that 118 have agreed loans a,b and c are unaffordable so they will only look at whether d, e and f are.
Do you want to say something about your loans? Did 118 uphold the last three? the largest three? or what?
Chris says
Hi Sara
so between July 2015 & October 2019 I had total of 6 loans. they refused to look at 1st loan as it is over 6 years event that I explained that I only find out in 2020 that I can make complaint. then 2nd and 3rd loan they say that ”you were taken through extensive questions to ascertain your circumstances. When submitting the applications, you are asked a number of different questions around your income and expenditure, the reason for the loan and employment details.” and they upheld last 3 loans as they say ” I say this is because I feel that we could have asked more questions of you to be able to fully assess your circumstances; I appreciate that this is not ideal and for this I am sorry, however, it is important to note that I don’t agree that our loans solely contributed to the position you have now found yourself in but I do feel that we could have done more.
now I believe that all loans had been unaffordable as my situation back then (first 3 loans) was similar to when I took last 3 loans.
thanks in advance
Sara (Debt Camel) says
can you say how large the loans were, in order of you taking them
FOS will look at loans that are more than 6 years old, but these cases tend to go much slower. If the first loans wasnt larger, it may be a better idea to tell FOS you are only complaining about loans 2-6 but you would like the first loan to be taken into account when assessing loans 206 as it shows 118 knew you had been in a difficult situation for a long while and their loans were not helping you out of it.
Chris says
Hi Sara
1st loan July 2015 for £2000 over 18 months total to repay £3285
2nd loan April 2016 new loan was for £2255 (£1255 to pay for old loan, and £1000 new loan) over 24 months total to repay £4266
3rd loan July 2017 new loan of £2072(£1272 to pay for old loan and £800 new loan) over 24 months with total to pay £3978
4th loan February 2018 loan for £2826 (£1826 to pay for old one and £1000 new loan)over 24 months with total to pay £5306
5th loan August 2018 loan for £3137 (£2437 to pay for old loan and £700 new loan) over 24 months with total to pay £5932
6th loan October 2019 loan £3843 (£1843 to pay for old loan and £2000 new loan) over 24 months with total to pay £5670
118 uphold last 3 loans – refund due £4931 plus £394 interest.
now like i mentioned before all 6 loans were issued to me in similar circumstances so i think I should go back to FO with all 6 loans.
thanks in advance
Sara (Debt Camel) says
Definitely try to get more.
It’s up to you if you want to ask FOS for all 6, or go for the last 5 which will be quicker, and it’s possible they may not give the first one anyway (although they might).
You could also say to 118 that that isn’t acceptable, but you are prepared to compromise on loans 2-6 being refund in the interest of a speedy settlement, although f you go to FOS you think they will all be upheld. I don’t know if they would accept that – tell them it goes to FOS in a week if they don’t reply.
Jax says
Good evening. Made a complaint to Hitachi re irresponsible lending. Of course they did nothing wrong in their response. They have been reporting late payment markers for 24 months instead of defaulting the loan no later than 6 months after my first missed payment. I’m more interested in them adding a default than removing the interest. Am I barking up the wrong tree with this or should I pursue it please? The loan was for 10k over 5 years with interest of 5k. I now owe about 7.5 k.
Sara (Debt Camel) says
If you think it was mis-sold, send the complaint to FOS. If you win that, all negative marks are removed from your record.
In this situation you probably do not want them to add a default as it would still be on your credit record for another 5 years…
Jax says
Thanks for your reply Sara. I have several other defaults from early 2020 so I was thinking it can’t do further damage and would drop off around the same time as the others. As it stands this debt won’t come off my credit record until 6 years after I finish paying it which will probably be next year, so would stay on until 2028 instead of 2026. I’ll escalate to FOS and see whether they uphold it. It would be nice if those late payment markers for the last 2 years were removed.
Sara (Debt Camel) says
yes, let FOS look at the mis-selling claim. If you lose that, look at getting a default date added then.
PM says
I can’t get my head round the FOS timelines. 26 weeks waiting for an Ombudsman and it’s still in a queue as a priority case. Adjudicator is off until new year, so I rang the customer services and was told that it’s likely to be another 3 month wait due to the volume of cases. I even mentioned the timelines that other people share on this site, and was told that those timelines are nonsense and people are lying. Completely baffled by their response and attitude. They couldn’t even tell me what the Christmas working hours would be…
Sara (Debt Camel) says
is this Bamboo? I thought you said you weren’t a priority case?
PM says
Yes it is. I didn’t think I was, but my adjudicator told me otherwise when we spoke a few weeks ago.
Laura says
My bamboo case was referred to an ombudsman around the same time as you. Although I can’t get any update on timeframes other than it is in a queue. My case has been with the FOS for a year now, took 6 months for an investigators view and I just have to sit tight.
I’m not viewed as a priority case so I just have to keep everything crossed that bamboo don’t go under while I’m waiting. Although, if it stops others getting into a similar position it’s a win.
PM says
I suppose it’s good to know that we aren’t isolated incidents then. My timeline is 15 months for the adjudicator decision and then 26 weeks until this point. I think Bamboo are still lending so Hopefully they won’t go under. Fingers crossed for the both of us!
Anonymous says
Hi, I would like to make a complain to my bank about irresponsible lending due to gambling issues. The loan was quite large, over £7000. I already paid it off. Would I ask in my complain for refund just the interest or should I also ask for refund me the loan amount itself? Since the bank should have access to my statements they should have seen I was gambling before borrowing me even that I never told them.
Sara (Debt Camel) says
You just ask for a refund of the interest. (The very rare exception here is where you had already told your bank about your gambling before the loan.)
In your complaint make the point that the bank should have seen from your bank statements that you had a gambling problem.
Do get copies of your bank statements for 3 months before and 3 months after the loan was given – your bank doesn’t need these but it means you will have them ready to send to the ombudsman if your bank rejects your complaint.
Sara (Debt Camel) says
Also did you have an overdraft? Was that large and were you always in it?
Anonymous says
Yes I did and when I took the loan I was already using pretty much max limit of it.
Sara (Debt Camel) says
How large was the overdraft? And had you been in it constantly for a long while – how long? It may be worth making a complaint about the overdraft at the same time as the loan.
Anonymous says
Yes it was constantly pushed to the limit. Interestingly they increased the limit few months after the loan! But again as you said I will probably only get interest but not the full amount.
Sara (Debt Camel) says
ok then complain about the overdraft too. I am writing a new post on overdraft complaints in a few days so look out for it… but just get your complaint in and say they never should have increased your limit because of the gambling on the account and the recent loan they had given you.
Jack says
Hi Sara, was wondering if you could help? I have received my DSAR from lendable and have noticed the credit report details 9 active accounts (which is correct) but in the detail of the report there is only 4 and so this is what they have based there analysis on? Any ideas which not all 9 active are detailed. Are they removing some on purpose?
Also what is a average debt to income most lenders will loan up to?
Appreciate your help.
Jack
Sara (Debt Camel) says
No idea. If 9 debts show on your report and thats what lendable were sent they should use them all.
There isnt any such thing as an average debt level that is OK. It depends on your disposable income and your other debts.
Tim says
Hi all. Just had my final response from likely loans rejecting my complaint. Saying they did proper checks and that they did not need wage slips and bank statements on a small loan. Tha e loan was for £5000 pounds with about £3500 pounds interest thats £8500 in total so i dont believe this was a small loan. On my bank statements rhere was lots of gambling debts on there. Also my credit catds balance was £5000 pounds nearly maxed out also loans on my credit file with missed payments. Due to this being my only loan with them will this count against me?. Also they said they did a credit search at the point of my application but there is no record of a hard or soft seach at the time of getting my loan. I have asked them for a copy of the search they did but they have refused saying that they cant supply this because it does not belong to them. Has anyone else had this response from them?. Thanks in advance.
Sara (Debt Camel) says
5000 is definitely not a small loan! even when it is your first loan LL should have made proper checks.
I suggest you send this straight to the Ombudsman.
Tim says
Thanks it has already gone today. Ive also emailed likely loans for a break down of my imcome and expenditure information. It is very avaisive grouping all living expensives and out goings together so that i cant check them against my credit file. I know my debts was a lot more than they have stated. They told me they were checked against national office data
Tim says
Hi Sara. Are likely loans telling the truth when they say that they ate not allowed to send me the credit report they did when i applied for the loan because ” it did not belong to them so we cant send it”? Thanks
Sara (Debt Camel) says
No. It is information about you that they hold. They should supply it
Lucylu says
Hi Sara , I am considering an unaffordable lending complaint regarding my car finance , at the time finance was agreed I had other debts , payday loans , and a large guarantor loan ,I was living with my partner and they would only deem the finance as affordable to me if my then partner agreed that he was covering half the living costs by email to them . Unfortunately the relationship ended and I struggled to continue with payments and currently have 1400 left outstanding ( initial loan including interest was 6000) will the fact that they lent to me based on my partner covering costs be a hindrance or a benefit when looking at whether the finance was affordable. Thanks
Sara (Debt Camel) says
was your partner covering half the costs at the time the car finance was taken out?
Lucylu says
He stated that he was paying half as that was what they requested he do , but in reality it was about a third .
Grae says
Hi Sarah ,
Good news ,
I put an affordability complaint into Moneybarn in August 2020 , was rejected by them and I sent it off to the ombudsman on Nov 23 /2020 .
It was picked up by an adjudicator in October of this year , the adjudicator ruled in my favour and gave them until November 29th to respond ( they didn’t ) then another week and they still didn’t respond .
I called Moneybarn and they declined to comment so I then left a review on trust pilot , the next day they were all over it , 2 hours later I had a response from them agreeing to all the adjudicators findings ,
I still had 20 months or so to go on the loan with a balance on £5045 ish , paying £252.26 a month .
The loan has been wiped out and a nice refund arrived into my account today of £2996:00 after 5 days of them agreeing ,
Thank you once again
Sara (Debt Camel) says
Interesting that they jumped when you used Trustpilot!
Good result.
Zoe says
I did the same with Trustpilot. Although expecting a delay after my adjudicator decision, I thought 6 weeks was long enough. Also if they were to come back querying anything as they seem to have done to many others I would rather have got that out the way and put back in their long queue asap. I left a review Wednesday evening and had a response by lunch on Thursday. They have said the final stages of the process are underway and I should hear back no later than next week.
I really hope that means they are agreeing with the FOS. I’ll see next week I guess! But Trustpilot does seem to work
Sara (Debt Camel) says
thanks for that information!
steve says
Good Morning Sara, All.
I’m going through a claim with Ford Credit for irresponsible lending. At the time of taking out the car loan, i was heavily reliant on payday loans. A check of my credit file would have shown this. Low and behold, i missed payments, and eventually the car was repossessed. Leaving both a default and a CCj on my credit file from Link financial. At the time and even now, I was suffering with complex PTSD. This morning, i was going over the court files and noticed this: default notice from Ford dated 08 June 16 Served under the consumer credit act. It states, quite clearly ” If you have paid at least one third of the total amount payable under the agreement below, FCE bank may NOT take them without your consent or a court order. You have the right to get back ALL the money you have paid under the agreement set out below. Total amount payable = £12386.80. Amount repaid as at 08 June 16 = £5802.84. Which is more than one third. the sum of £850 in February 2017. Equalling £6,653.0. The date of our returned good hearing was 24 April 2017. With the court order set on 11th May 17. The vehicle was removed before then. Without a court order or my informed consent as a vulnerable person. Now should I pursue this as a breach of contract or as irresponsible lending? Would this be enough for the courts to set aside the CCJ?
Sara (Debt Camel) says
you have made a complaint and are waiting for the reply from Ford?
what date was the vehicle repossessed?
Steve says
Good morning Sara,
I’ve submitted a claim for irresponsible lending. However, I’ve only just seen the default notice for the car. It was repossessed in 2017. I’ve only just really become aware of the Potential to claim for irresponsible lending. Due to the nature of my MH issues, I’ve not been able to really engage with anything properly for some time. But now I’m on a war footing.
Sara (Debt Camel) says
yes but what date in 2017?
Steve says
It was approx 20th April.
Sara (Debt Camel) says
ok, then I suggest you email Ford and say you also want to complain that the vehicle was repossedded on 17 April which was before there was a court hearing and order, even though you had paid over a third.
I suggest you wait and see what Ford reply.
steve says
Thankyou Sara. How long do I have to give them to respond? At what stage can I escalate this to the FO? The irresponsible lending claim has been ongoing for a few weeks and I feel I’m getting nowhere with them. I keep getting told the claims handler will contact me “tomorrow” only to find that she isn’t in “tomorrow” and won’t potentially be in this side of Christmas.
Sara (Debt Camel) says
8 weeks.
Steve says
That’s a lifetime. Really don’t have 8 weeks. I’m pretty much screwed. The ramifications are unreal. I have no idea of what I’m going to do. Just so tired of fighting.
Sara (Debt Camel) says
Can you explain what the hurry is? the car has already been repossessed.
What is your immediate problem?
It takes a while for these complaints, especially as many have to go to FOS.
But going to court is also incredibly slow. the average time for a county court case was 51 weeks in 2020 and the backlog may now be worse.
steve says
We had a DIP for a mortgage with Halifax. I was upfront with them about my default with ford/Link. They were fine with it. Put an offer in on a house. Full mortgage application… as I’m in a payment plan, they have rejected me. They said, if I hadn’t entered one and it was just unsatisfied, they wouldn’t have an issue. But as it’s in repayment, they won’t do anything until the default has been removed. We were due to complete next month. My only other option now is a 4.5% mortgage with over £3000 worth of fees. I haven’t even told my wife. I can’t bear to break her heart. This was all stuff before we had even got together.
Sara (Debt Camel) says
oh dear. There isn’t anything that is likely to get a decision that fast. I think you need to talk to your wife and i don’t see any point in delaying this.
steve says
And that’s the issue. I just can’t face breaking her heart. I’ve already been through one divorce… funny enough heavily linked to my issues with Ford. I submitted the Irresponsible lending claim a month ago. And they just keep stringing it out. When i first called them after the mortgage rejection, i stated that my Mental health is at its lowest i has been for some time. I had spent most of the night contemplating just ending it. I’m just tired of fighting. They promised someone would call back that day. 5 days later, they did. My head is really just shot right now.
Sara (Debt Camel) says
I am so sorry but it seems very unlikely that there is anyway here which is not going to mean she is upset. Please put your faith in her and tell her now – she will be so upset that you didn’t tell her as well as disappointed about the house. Trust me, she would much rather you told her.
shaun says
Good afternoon,
I have a ongoing complaint with NatWest that I have mentioned. I am not really hopeful although was a large loan and I had other credit, gambling etc, so we will see.
But after a bit more advice if possible….
Loan 1 – £13,124 10/11/15 – 31/10/17 ( complaint ongoing )
Loan 2 – £2,911 08/03/17 – 28/02/18
Loan3 – £1,106. 19/12/17 – 30/06/18
Loan4 – £7,217. 06/04/18 – 31/08/18
Loan 5 – £7,890. 06/08/18 – 31/10/19
Loan 6 – £7, 410. 02/01/19 – 31/10/10
Loan 7- £18,827. 04/10/19 – 30/09/21
Loan 5&6 were running alongside each other and I consolidated both with loan 7
Loan 8 currently running £14000 started 3 months ago.
A lot of information but is it worth complaining about these also? I would not have much gambling on these statements because am on a self excluding ban.
But loans 1 to probably 5 there would be other loans etc from other companies.
Any advice much appreciated
Sara (Debt Camel) says
what was the interest rate on these laons?
shaun says
Hi Sara,
I am not to sure is there a way I can find this out? I think they were definitely in double figures.
Thanks
Sara (Debt Camel) says
in that case NatWest knew you were risky… it’s not as though you looked squeaky clean to them with a credit income & credit record – then you should have been offered much lower rates.
I’m not saying this because people can only win a claim with high interest rates, but just to reassure that NatWest should have looked at your situation in detail. That was a lot of loans over a short period. They should have seen from your credit record that these loans didn’t seem to be improving your situation.
I would complain about them all! Let FOS sort them out.
shaun says
Thanks Sara, il put my complaint in next week I do think there’s a case there. It just seems with it being a big name and the tool kit they use when applying, you think they cater for all the issues in there software and comes to the decision correctly. That’s what puts me off.
Il give it a go anyway thanks for your help!!
Thomas says
Good Morning Sarah,
I have had a prompt responce from easylogbook loans saying the loan was affordable. They used all info from the first loan with them to approve the second one. This was in joint names, I was working full time then as well. Second loan i was working 16 hours a week and loan was only in my name. They say They didnt need to carry out checks as they did it in dtetail on loan 1. (18 months previously and I agreed that my income and expenditure was the same. They offered me 250.00 said that loan one was less affordable compared to loan 2 bascically. I said i had won at fos with ccp and i would only accept half of all interest and charges and 8% interest which i said was £800.00. I said this was fair and reasonable. Whats your thoughts please.
Sara (Debt Camel) says
How large was the first loan? The second one?
Do you agree the first loan was affordable?
Had your credit record got worse between loans 1 and 2?
Thomas says
Hi Sarah, first loan was for 1600 the second for 1000 had to pay back 500.00 extra due to charges added interest etc. Initially i thought the first one would have classed as affordable because it was a joint loan. Yet they point out to me i had a surplus of 46% left after household income etc compared to 31% on loan 1. I was only taking home 173.00 a week and was paying back 70.00 a week in loan repayments before they approved the loan which was 35.00 a week.
Sara (Debt Camel) says
they point out to me I had a surplus of 46% left after household income
but was that accurate? Or had they ignored some debts and bills and living expenses?
So two large loans, the second given when the first had not been repaid. If you have offered something and they refuse, send your complaint about both loans to the Ombudsman.
Thomas says
Hi Sarah the first loan was paid off. New loan was taken out few months after that. They used my previous income and expenditure which at that time i was in full time hours. Not the 16 hours i was being paid when i took the new loan out. They said i miss lead them by saying my income and ependiture was yhe same. Admitting they didnt carry out any checks for new loan
As they used the info i provided from loan 1 bank statements wage slips etc which was over 18 months old.
Sara (Debt Camel) says
nevertheless, they should not assume that nothing has changed from 18 months previously without making some checks. And it isn’t clear to me if the first loan was affordable – you may have repaid it, but did your other debts go up during this time?
If you would like someone to look in detail at your case, send it to the Ombudsman.
Thomas says
Thanks Sarah,
I will send it to F.O.S
Thomas says
Hi Sarah,
I ment to ask you, do i need to send a seperate complaint to easylogbook loans for loan 1 before i send that to F.O.S. as only sent complaint about loan 2 to ELBL?
Sara (Debt Camel) says
Did their response cover both loans?
JC says
Hello Sara,
I had a complaint with avant credit which they said they’d acted responsibly in lending to me. I forwarded it to the FOS, and an adjudicator took up my case and upheld.
I’m now awaiting a reply from avant. I’m just wondering, avant can disagree with an adjudicator?
If so, what’s the next steps after that?
Sara (Debt Camel) says
If Avant disagree, it will have to go into a queue to be looked at by an Ombudsman.
Alan says
Sara out of interest do you know what the average wait time is once it goest to the ombudsman?
Sara (Debt Camel) says
No it seems very variable.
Dan says
Hi Sarah, is there a maximum wait time for the ombudsman’s final decision? Like they expect to reply in 90 days or whatever?
Sara (Debt Camel) says
Unfortunately not. It seems very variable
Thomas says
Hi Sarah,
No they offered me 250.00 to bring the matter to a close a said the loan was affordable as i had more % left than the first loan which made it affordable. I will just send them a new complaint.
HHJ says
Hi, just looking for some advice, the financial adjudicator upheld my complaint but Savvy refused to accept so it has now gone to the FOS. Im due to pay my next instalment on christmas eve and am wondering if its worth taking my chances on not paying?
Sara (Debt Camel) says
Can you afford the payment or will it leave you short of money for the next month? Do you have other problem debts? Any priority debts?
HHJ says
In truth yes it will leave me short, I had hoped that Savvy would accept the adjudicators decision and that the next instalments wouldnt be owed. £2000 loan, I have now paid £2000 capital back but obviously the interest is still due. Is it worth not paying this month and FOS upholding my complaing meaning they will hve to remove negative information or is it best to just get it paid and hope it comes back as a refund (if decision is upheld)
Sara (Debt Camel) says
The two risks of not paying are:
1) there will be a temporary harm to your credit record even if it is then cleared when the Ombudsman upholds your complaint.
2) if the Ombudsman does not uphold the adjudicator decision you will still owe the rest and your credit record will not be cleaned.
There are two risks in continuing to pay:
1) Savvy goes into administration – here if your case is upheld you would not get back the full value of any payments made as you have already repaid more than the amount borrowed. I have no specific reason to think Savvy are in difficulty, but there is some level of risk here.
2) you will struggle to make other debt or bill repayments as this payment will leave you short. These may result in negative marks on your credit record that will remain even if the Ombudsman upholds your case and you are paid in full by Savvy.
For most people the last of those will probably be the most d=significant – making a payment to Savvy that leaves you short will cause you difficulty elsewhere. But this depends on your situation. If you would like to talk it through in detail with a debt adviser, call National Debtline on 0808 808 4000
JC says
Hello sara,
I wrote a previous question about avant credit. They look like they’ve sold their loans to another company, but it lists two new companies that are possibly the new owners. I’m awaiting a response from them after an adjudicator upheld my complaint. The deadline is tomorrow for their decision.
Will this affect the process with the FOS?
I’m hoping I don’t have to repeat the process again!
Sara (Debt Camel) says
It says they “may” sell your loan. It doesn’t say they have all been sold.
If your loan has been sold, your complaint is still against Avant, the original lender.
Nas says
Hi good morning I have just been handed an adjudicator for my case. Its regarding a 118 118 loan which was just over 6 years ago. They ask me why I haven’t raised a complaint 6 years after the sale of the loan. What could I respond to this ?
Many thanks
Sara (Debt Camel) says
You need to explain that although the loan caused you difficulty at the time, you thought it was your own fault for borrowing too much and that you did not realise the lender should have checked affordability, so you did not know you had any cause to complain. Explain with as much detail as you can (who, where, date) how you found out about these complaints and point out you are complaining within 3 years of findin you could make this complaint.
John says
Hi Sara. Can you make claims about credit union loans ?thanks john
Sara (Debt Camel) says
See my reply here: https://debtcamel.co.uk/refunds-large-high-cost-loans/comment-page-23/#comment-414392
Andrew says
Hi John
I have one in with voyager Alliance I haven’t had the information from them as they aren’t releasing it ie how many loans etc but I reckon I had around seven all topped up never settled only refinanced minimum 3 grand I believe uo to sort of 6 grand all showing payday loans on bank statements
Voyager very unprofessional sent me a reply 12 hours after sending complaint basically saying I had no chance of a refund I took to fos and they told me it was not a “proper response’ waiting another 2 weeks for the formal rejection and this has been in queue for adjudicator since August
mogsy says
Hi Sara, I’ve had a complain upheld by the FOS and agreed by Oakbrook. The complaint was for 2 loans, one back in September 19 which was settled and one which is currently in a payment arrangement with a balance outstanding. My query is, should 8% simple interest be applied to the refund of interest on the first loan, or would it be considered as one account? The overpayment on the first loan was £1253.07 which, if the simple interest is applied could potentially reduce my current balance by about a further £200. Total borrowed between the 2 loans was £5300 and total repaid to date is £4625.37 so I’m being told the balance due is £678.63 (which is slightly off). The FOS said any capital should be repaid but simple interest should be paid on any overpayment. Thanks, and Happy New Year :)
Sara (Debt Camel) says
Did the second loan settle the first loan?
Mogsy says
No it was a completely new loan with a new agreement number.
Sara (Debt Camel) says
so the previous loan had been repaid before? How long?
Mogsy says
The first loan was for £2000 and repaid November 20, the second loan was £3300 taken out 5 months later in April 21.
Sara (Debt Camel) says
Then I suggest you should go back to them and say that 8% interest should be paid on the first loan. I think it will be closer to £100 than £200 but this is worth asking for.
Mogsy says
That’s great, thank you as always :)
David says
Hi, I took a loan from Moneyway (Secure Trust Bank) and at some point it was sold to Alpha Credit Solutions 8. Now the loan is already paid but I am making a complaint about irresponsible lending. I made a complaint to Secure Trust Bank, but they responded that Alpha Credit Solutions will deal with it because it was sold to them so they forwarded my complaint to Alpha. Now I wonder if Alpha will actually look into that complaint since they weren’t the ones who I borrowed from in the first place. What can I do in this situation?
Sara (Debt Camel) says
One person won his FOS case against these people (£4,700!) – I think he eventually complained to FOS about Apha but I will check with him. Remind me in a week if I don’t get back to you.
Sara (Debt Camel) says
So this is what happened to the other reader:
1/ I complained to Moneyway (STB) and they forwarded to Alpha.
2/ Target Servicing who administer Alpha’s fund came back saying that it was out of time. It wasn’t on either the six year of three year limit!
3/ It went to the FOS and they confirmed it was in time.
4/ Target on Alpha’s behalf then came back denying liability.
5/ It then went back and forth between Moneyway and Target with both denying liability. The Adjudicator ruled that it was Target/Alpha’s problem.
6/ The Adjudicator then looked at the substance of the complaint and ruled it was unaffordable.
7/ Target disagreed and it was queued for the Ombudsman, when they suddenly got in touch with the Adjudicator to say that they now agreed and it was settled.
They were very difficult at every step and didn’t honour a single deadline, but I got there in the end!
On that basis, you do need to complain to Alpha and send it straight to the Ombudsman if it rejected.
Have Moneyway forwarded your complaint to Alpha?
David says
Yes Moneyway (Secure Trust Bank) forwarded my complaint to Alpha. Now waiting for a response from Alpha…
David says
On that subject, I sent the complaint to Moneyway by email but after they forwarded it to Alpha I received normal post letter saying that they are looking at it. Do you or does anyone know if there is an email address for complaints I could contact Alpha?
Another question if I have to send it to FOS, do I enter company name and address as for Alpha or Moneyway (Secure Trust Bank) ? Because this Alpha seems to have address in Luxembourg.
Daniel says
Hi Sara , I too made a complaint to moneyway/alpha , I have had regular letters saying they are still looking at my complaint and apologising for the delay , it’s now been 13 weeks ( have now sent to fos ) they keep saying the hope I wait for a final response from then before I send to fos , do you think this length of time they are taking is a good or bad thing ? Can’t seem to find many people who have complaint to this company to see others experiences , I had a £12500 loan over 60 months at £342 a month , at the time of taking the loan I had £47000 worth of debt including a £15000 everyday loans , 6 pay day loans and £25k of car finance
Thanks
Sara (Debt Camel) says
I don’t think them taking a long while is either good or bad news. I think they are starting to get more complaints and they aren’t set up properly to deal with this.
It’s good you have sent this to FOS.
Have you made affordability complaints about everyday loans and the payday lenders as well?
Daniel says
I haven’t with everyday loans yet as I paid it off early with the money way loan so didn’t think I’d stand a chance iv won against littlewoods , very, bamboo ( without the need for fos ) and was to late to do satsuma, my jar and sunny .
Sara (Debt Camel) says
You can still win a complaint when the loan was paid off early.
Make sure you put in a claim to the provident scheme for the Satsuma loan. You may not get much back but it’s easy to do.
David says
Hi Daniel,
When you send it to FOS, what company name you put in the form? Alpha or Moneyway? If Alpha, then what is their physical address?
Also when I googled Alpha their is one called Alpha Credit Solutions Ltd but the one that it was sold too is called Alpha Credit Solutions 8 Sarl – are those two the same?
Chris says
Hi Sara,
A few years ago I put in a claim against Everyday loans ppi product which was unsuccessful. Could I put in a affordability claim?
Thanks for all the help.
Sara (Debt Camel) says
yes. these are entirely different complaints.
Marie says
Hi I’ve got an outstanding complaint with dot dot loans which is with the financial ombudsmun now. She emailed me today and forwarded me a copy that she has sent to dot dot loans stating what she thinks they should do about my affordability complaint. Does that mean that dot dot have to forfill that or can they say no to upholding my complaint and refunding me the interest which is what the ombudmun are saying for them to do ?
Sara (Debt Camel) says
is this decison from someone called an adjudicator (or investigator)? or from the second “ombudsman” level?
Marie says
From my adjudicater
Sara (Debt Camel) says
in that case, Dot Dot can reject the decision and it has to go to an ombudsman for a final decision which is legally binding. In 90% of cases the ombudsman agrees with the adjudicator.
Yvonne says
Good morning,
I sent a letter to Bamboo yesterday regarding irresponsible lending. I have a response this morning asking for two months bank statements before I took the loan.
I had numerous loans, along with reversals of non loan payments do I list all this in my letter or just send the statements off together for them to sort themselves?
Also as I have two bank accounts one with wages paid in and one for bills out do I send them for both accounts?
Apologies if this is a simple question not sure if I’ll just add more confusion.
Sara (Debt Camel) says
I would send them both sets of statements.
Bamboo will often negotiate on offers… so if they make you what doesn’t dound like a good offer, , you can go staright to the ombudsman or come backhere and discuss if you would be happy with a larger compromise offer.
Sarah says
I have recently had a complaint upheld by the FOS for 3 loans and Oakbrook agreed to their findings. I just have a question regarding the statutory interest please. The initial loan was the largest and I paid £1587 in interest on that loan alone which was completed in 2016. The final loan was from 2019 and the total interest I paid on all loans was £1978. In their settlement offer they have calculated the 8% statutory interest as £349 which I don’t think is correct. Do I go back to the ombudsman with this or directly to Oakbrook??
Sara (Debt Camel) says
Were there gaps between these loans?
Sarah says
Yes the initial loan was taken out in 2014 completed in 2016 and then the 2 further loans were 2018.
JC says
Hello sara,
I’ve forwarded a complaint on to the ombudsman. It was initially rejected by avant, but an adjudicator took the case up, and found in my favour.
However, avant we’re given a deadline of the 22nd of December to reply. I assume there has been no reply, as I’ve asked for an update via email and phone from the adjudicator, who has then not replied to me.
I’d just like to ask if this is normal that it would be this long winded? Also, if avant don’t reply to the adjudicator, does it just stop there?
Sara (Debt Camel) says
They will have been given longer to reply. This is annoying, but if they don’t accept the decision, then it has to go to an ombudsman for a decision which takes months. So it makes sense to give them a few more weeks.
Charlotte says
Hi Sara,
I don’t know if you have any suggestions, I took a loan with HSBC in 2017 for two amounts 1 from a CC for around £4000, and one from my overdraft for £2,500, I cannot remember the exact figures.
The full repayment amount was £12,750 give or take a few pounds. I have paid the loan off as of 01/2022.
I complained to the bank, they said the interest was already paid and sent me to the financial ombudsman, my complaint was based on the high interest rate and affordability over the years.
The ombudsman has come back to say the bank were not at fault. I’m amazed that this is the case given the high interest rate and the fact that this has been a massive encumbrance for me financially.
I asked again, and he said I was aware of the interest rate when I bought over the phone. I did not utilise the 14 day cooling off period, etc.
Do you think that there is anyway left for me to get recompense- (only the interest, but it’s nearly £6000 that I paid) now the ombudsman has made a decision (case closed today).
Any advice, many thanks,
CS
Sara (Debt Camel) says
is this a decision from an adjudicator or a second level Ombudsman decision?
While you were paying off this loan, did you other debts increase?
Charlotte says
The person who dealt with my complaint was an investigator, so not second level I don’t think. And yes, if you call an overdraft debt, I have an overdraft now of £2,500, and I got into arrears with my council tax, the outstanding £882 I am now paying off over two months.
Thanks
Sara (Debt Camel) says
Then I suggest you tell the investigator that you disagree, that this debt has led to you getting council tax arreas and an overdraft , and that if he doesn’t change his mind, you would like the case to go an Ombudsman.
Charlotte says
Ok thanks.. if I get further I will let you know.
Hayley says
Hi Charlotte, what email address did you use for HSBC? I am about to make a complaint to them about a situation I was in that was very similar to yours. Good luck with the response and I will be interested to know what happens when you escalate to Ombudsman! I wish all the best and hope for a better outcome for you.
Sara (Debt Camel) says
Hi Hayley, if you still Have an account with them, use a secure message.
Dave says
Varooma complaint – After the initial adjudicator did not agree with me in March (I cannot see how, must have not looked at my credit file properly!) I am still waiting for an Ombudsman to pick up my case. I have called twice in the intervening time and been told it is still in the queue….. Just to manage others expectations!
HB says
What is the quickest time scale people have experienced after adjudicator upholds your complaint but creditor doesn’t and has to go to FOS? – I note above comment of still waiting from March after adjudicator favoured the creditor
Sara (Debt Camel) says
less than a month sometimes happens! But the extremely quick and extremely slow are rare.
PM says
I’m over 7 months now. Still in the queue waiting for it to be allocated. Adjudicator ruled in my favour and lender disagreed. “Priority case” as well…
HB says
After posting this earlier today my final decision ironically came through at 4:30pm today after only being escaled to FOS middle of december – however ive just deleted the attachment on my resolver dashboard by accident so cant see what the decision is! FOS is now closed for the weekend another 2 days of anticipation!
HB says
THEYVE RESENT IT ME AND DECISION UPHELD!!! :D
Sara (Debt Camel) says
yay!
Vickie says
Now that they have upheld it is that the final decision or can the lender disagree again? I’m waiting for ombudsman to be allocated just now. Adjudicator upheld my complaint but lender disagreed. I’m also a priority case. How long did you wait in the end? My case was sent to ombudsman at the end of November. Im just a bit worried as the lender is no longer lending. Hoping they don’t go bust in the meantime.
HB says
Thats the final decision, adjudicator ruled in my favour lender disagreed, went to FOS middle of december, decision yesterday.