The repayments on many loans and car finance are too high to be manageable so people get deeper into debt trying to repay them.
When you applied, a lender should have checked a loan would be affordable for you – often they did not check properly and you should never have been given this loan.
This article describes how to complain, with a template to use. Many people have won complaints using this. If you win, you will get the interest refunded in cash. If you still owe a balance, the interest is removed so you only have to repay what you borrowed.
These complaints do not hurt your credit record if you carry on making the loan repayments while the complaint goes through.
Contents
A quick overview
What types of loans?
- this includes high cost, bad credit lenders, bank loans, and credit union loans;
- you can complain if you are still paying the loans, it has already been repaid, it has defaulted, or you have a payment arrangement/DMP;
- a consolidation loan may have been cheaper than the credit cards it cleared – but it could still have been unaffordable for you!
- you can also use this approach for car finance. But if you are still paying car finance, you may have a better option than an affordability complaint, so read HP/PCP car finance problems first. And then read Car finance affordability – what you get if you win a complaint
- if you have a guarantor loan, read Refunds from guarantor loans as it’s different and the guarantor may be able to complain as well;
- the complaints here do not apply to mortgages.
What is “unaffordable”?
The regulator says “affordable” means:
you can make the repayments without hardship or having to borrow elsewhere.
This isn’t just for “bad credit” loans – you can win a complaint about a loan from a major bank. But as bad credit loans have very high interest rates, they are more often unaffordable.
For large loans, a lender should have made adequate checks at the start. The larger your loan, the worse your credit score and the more other debt you had, the closer a lender should look.
If your loan was fine at the beginning and only caused problems later when you lost your job or your mortgage repayments went up, you are unlikely to win an affordability complaint as this could not have been predicted at the start.
How does this work?
You first make a complaint to the lender saying the loan was unaffordable and ask for a refund of the interest.
There is a template here you can adapt to say what happened to you. Send it by email.
The lender has up to 8 weeks to reply. Lenders reject many good complaints, so you can send a rejection to the Financial Ombudsman.
Complain to the lender
Email addresses for lenders
If your loan has been sold to a debt collector, send your complaint to the original lender not the debt collector.
It’s easiest if all communications are by email – free, instant and you have a copy with a date stamp to show the ombudsman.
For banks, see this list here: email complaint addresses for banks.
For car finance and logbook loans, see this list: email address for car finance lenders
Here are the email addresses for some non-bank lenders. There are a lot of other smaller lenders, including many Credit Unions. If your lender is not listed, ask in the comment below for an email address.
Abound (used to be Fintern) complaints@getabound.com
Admiral loansquality@admiralgroup.co.uk
Anico complaints@anicofinancialservices.com
Avant Credit emailcomplaints@avantcredit.co.uk
Bamboo Loans complaints@bambooloans.com
Better Borrow enquiries@chetwood.co
Creation customercare@creation.co.uk
Everyday Loans – for loans after 31 March 2021 complain to complaints@everyday-loans.co.uk using the template in this article. It is no longer possible to make complaints about loans before that date
Fair Finance complaints@fairfinance.org.uk
Finio Loans (rebrand of Likely Loans) complaints@oakbrookfinance.com
Fluro (used to be Lending Works) cx@fluro.co.uk
Koyo loans info@koyoloans.com
Lendable complaint@lendable.co.uk
Lifestyle Loans info@lifestyleloans.co.uk
Likely Loans – see Finio
LiveLend support@livelend.co
Loans by Mal (Monthly Advance Loans) Complaints@loansbymal.co.uk
Loans 2 Go read Loans2Go – how to complain
MBNA mbnaonlinecomplaints@mbna.co.uk
Moneyline headoffice@moneyline-uk.com
My Community Bank complaints@mycommunitybank.co.uk
Novuna (used to be called Hitachi) ComplaintsTeam@NovunaPersonalFinance.co.uk
Plata complaints@plata.com
Plend complaints@plend.co.uk
Progressive Money complaints@progressivemoney.co.uk
Quick Loans customerscare@quickloans.co.uk
Reevo complaints@reevomoney.com
Salary Finance (Neyber) complaints@salaryfinance.com (for loans, not “pay advance”)
Savvy info@savvy.co.uk
Shawbrook Customercare.team@shawbrook.co.uk
Snap Finance customer@snapfinance.co.uk
Tandem pl@tandem.co.uk
TM Advances info@tmadvances.co.uk
Updraft complaints@updraft.com
Vanquis customer.relations@vanquisbank.co.uk
Zopa complaints@zopa.com
118 118 Money complaints@118118money.com
Use this template
Email the lender to begin your complaint. Put AFFORDABILITY COMPLAINT as the subject of your email.
Template for you to adapt:
Please confirm the date this loan started, the amount, the interest rate and the monthly repayments. [don’t include this if you already know the information]
I am asking for a refund of the interest and any charges I paid, plus statutory interest, and to delete any negative information from my credit record. [the refunds for car finance can be a lot more complicated than this, see but this is all you need to put in your complaint]
I also want the CCJ that I have for this debt set aside. [delete this sentence 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 yet, but they help your case if you do. Even if they show gambling, that supports your argument the loan was unaffordable.]
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 [2024] 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. [only put this paragraph if some of your loans are more than 6 years old. It explains why you haven’t complained before. It’s only an example so 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.
Do you need a payment arrangement now?
If you want an affordable payment arrangement now, add a sentence to the complaint saying this. These complaints may take months to sort out – a payment arrangement can get your finances into a safe place:
- 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 payment arrangements
- but don’t risk a payment arrangement for car finance or a logbook loan – one would put your car at risk.
Other details to add if you want
The template above is fine, you don’t have to add a lot more details.
But you can add extra points if they apply in your case, for example
- 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 my income and expenses. If you had done this, you would have rejected my application.
- during a telephone call, your agent suggested some figures should be lower to get my application accepted.
- if the lender was your bank – you should have seen from my bank account that I was in financial difficulty, I was using my overdraft a lot, I was only making minimum payments to my credit card from you.
And some examples of points about top-ups:
- a credit check would have shown that my finances had got worse since the first loan
- I had said the first loan was to consolidate debt, but you should have seen that this hadn’t happened.
While you are waiting for a reply
Try to get copies of your bank statements from 3 months before a loan to three months afterwards. You can get statements from closed bank accounts, normally going back 6 years.
Also get a statutory credit report now and download it. You can get one from TransUnion. Do this as soon as possible as sometimes the details change, so you want a full one saved to show the Ombudsman later if necessary.
Do not wait until the Ombudsman asks you for credit records or bank statements – you want them ready to hand. They really help your case as they prove your financial situation when you took the loan out.
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.
Go to the Ombudsman if you don’t get a good offer
Don’t be put off by a rejection! Or if the lender said it was your fault because your loan application wasn’t accurate – the lender should have made checks.
Sometimes a lender will send a long, complicated reply designed to make you look as though you should give up. If they say the loan was over 6 years ago, see below for “time limits”.
I suggest you rely on your instinct – if repaying the loan caused you a lot of problems then send it to be looked at by the Ombudsman.
If you aren’t sure, ask 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 soon as possible.
It isn’t usually worth trying to negotiate with these lenders, you are just wasting your time.
Send to Financial Ombudsman Service (FOS)
It’s easy! 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 complaint. Add any more details you want, including pointing out mistakes 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
- do not worry if you don’t have A copy of your credit or finance agreement – lots of people don’t. The lender will supply a copy to FOS if FOS asks for it. Don’t delay sending a complaint to FOS while you try to get this from the lender.
Other information that may help your case
Don’t delay sending a case to the Ombudsman while waiting for this information.
If you don’t have the bank statements from the time of the loan application, get them now. You can get these going back at least 6 years even from closed accounts. And you can often go back a lot further with an account that you are still using.
This is a good point to ask the lender for a Subject Access Request (SAR) if you are missing information that may come in useful at the Ombudsman. This could be your loan applications, all credit and other affordability checks and assessments, and a statement of account for the loans, and – if you think this will help – a record of all phone calls.
Your lender will have details of how to ask for this information on their website – it’s often included in their Privacy Policy, with a link at the bottom of web pages.
“Is there a time limit?”
You can’t complain about a loan that started before April 2007 – that is when the law changed to allow these complaints.
Lenders will often reject a complaint if the loan started more than 6 years ago.
But the Ombudsman can look at a complaint about older loans where you complained within 3 years of finding out you have a “cause to complain”. So if you have only just heard that a lender should have checked the affordability, you can take your complaint to the Ombudsman if the lender rejects it as too old.
The Ombudsman also has a 6 month rule. You must send a complaint to the Ombudsman within 6 months of getting a reply from a lender. So don’t delay!
Need some help?
Don’t use a claims management company. They are expensive and often incompetent and use a similar template to the one in this article.
Instead ask a question in the comments below.
Can you get an overdraft refund?
Refunds from cards and catalogues
Get a car finance commission refund?
CMcK says
Hi,
Firstly thanks so much for creating this template!
I’ve had my first reply from a lender with this template, and have been made an offer.
I complained to bamboo about 3 loans taken in 2019, in total the interest I paid on these was £2,000(550, 800, 650) Bamboo have rejected my claim in relation to the first two loans but have accepted my claim in relation to the third, offering me £650 refund.
Reading between the lines, they will only pay this if I accept it as a full settlement and close all three complaints on all three loans, rather than just the third. I’m a bit conflicted, as £650 would go a long way right now and the FOS process is slow, but I think the fact that are actually offering me cash right away probably means I’ve got a good case for a full refund
Do you think I should gamble and risk drawing this out for a larger settlement, or should I grab the £650 while it’s on offer and close the books on this?
Thanks in advance!
Sara (Debt Camel) says
You could go back to them and say you think you would get a refund on all three loans from the Ombudsman but you are happy to compromise on a refund of just the last two?
CMcK says
Thank you!
Having said I’ll take it to the FOS it has now been handed to a senior investigator to be looked at again. I spoke to him on the phone just now and he said he’ll likely agree with the outcome but he’s looking at it again. He said he’d come back within 7 days.
On the call I did allude to the fact that I can accept that there weren’t too many red flags on the first loan, but the second one just 4 months later shouldn’t have been accepted. I stopped short at suggesting outright for a refund on the second two only but did hint.
I’ll see what they say in the next week, and if they stick to their current offer I’ll just ask outright for a refund on the back two.
If FOS were to decide in my favour on all three would it cost them anything extra in fees/compensation? It’s something I’ll make sure to point out if so!
Tyler N says
I had a complaint with Bamboo for 3 loans..
My experience: They will listen if you tell them.
My case progress: Rejected complaint fully, offered goodwill of 2 future loan repayments.
I told them i didn’t agree with their final complaint response and asked if they were willing to discuss it further and gave my counter-arguements and explained my other debts around the time of each loan, said I’d go to the FOS if there was no further discussion.
Then Bamboo asked me for bank statements for 2 months prior to each loan.. daily emails back and forth for 3 days..
Only 5 days after their initial final response, they reviewed my bank statements and fully upheld for all 3 loans.. without needing to involve the FOS at all. Even had a final cheek to ask for the 8% FOS statutory interest. They agreed and i received a refund within 24 hours of accepting.
Bamboo handled it well and quickly.. once they seen proof.
Don’t be scared to tell them it needs to be a bigger if you know and can show it was unaffordable! Good luck on your case.
CMcK says
Brilliant thank you!
The guy seemed really decent to be fair, and if he does land with the same resolution I will outright ask for a settlement on loan 2 and 3 to avoid FOS. I’m also pretty sure the only reason they would agree to giving me money instantly is to get me to accept a settlement and limit their exposure. I doubt they would offer me the absolute max the FOS would likely award me straight off the bat without a fight.
I’ve explained that I have these processes going with a number of lenders, I was going through a rough time financially as well as some personal struggles/vices that made me very high risk to lend money to. I was really under a great deal of financial distress and so wasn’t in the right place to make considered decisions.
Anyway, I’ll give the chap the week then decide how to proceed.
Thanks again!
CMcK says
Bamboo have come back again – they said that they stand by their assessment, however by way of good will they’d be willing to raise the settlement to £1000 flat,
Not exactly what I’ve paid in, but I also recognise I did actually benefit in ways from the bamboo loans even if the repayments did cause me some problems. They helped improve my credit etc. As such I’ve accepted the £1000 and will not be taking it to the FOS.
Book closed, I paid closer to a reasonable rate for my borrowing now and I’ll get the money for Xmas.
Happy days. Thanks again. Is there anywhere I can donate some money to as way of a thank you?
Sara (Debt Camel) says
A small donation to your local Citizens Advice would be great.
Matt S says
Adjudicator upheld my complaint about Likely Loans on Monday. All 4 loans upheld. Likely Loans came back this morning to the adjudicator accepting and offering a little under £3200 refund. Very very happy. Have told the adjudicator I am happy to accept and he’s said he’ll let them know straight away. Anyone any idea how long they usually take to pay out? It’s going to be a very merry Christmas, great way to end a rubbish year!!
Matt S says
Just an update, money in my account today. 4 days from adjudicator making decision to the money being paid into my account. Not bad!!
CMcK says
I’ve just put my claim with likelyloans to the FOS so this is encouraging!
I spent £2,691 on interest within a 18 month period on a 5,100 debt (this may not sound so bad, however I actually paid it off early with a lower interest loan from the credit union. Having made £3,673 in payments over 18 months my settlement figure was still £4120 mid way through my loan duration. Robbery.)
LL rejected my claim on all accounts, but I’m hoping the FOS will see things differently.
Matt S says
Fingers crossed it goes well for you with the ombudsman. Was about 6 month’s from be complaining to the ombudsman to being picked up by an adjudicator. However super quick after it had been picked up. Sounds like you have a good case!!
Graeme says
Hi Sara ,
Put in an affordability complaint to Moneybarn , some points I raised they reverted to the agreement saying “
You singed it “ however when asking for a detailed explanation on how they worked out my income and expenditure ,
They simply said “ they are not required by law to work this out , my repayments did not exceed 15% of my monthly income , payslips provided , and they must ask that forms are filled in correctly , however they do note I had defaults and a payment issues in the past , however this did not raise concern “
I have forwarded it to the ombudsmen , any thoughts ?
My argument
Sara (Debt Camel) says
It depends on the details of your case, general points aren’t much use. Moneybarn are a bad credit lender, they don’t expect customers to have a perfect credit record. But the fact they knew you had had problems in the past means they should have considered if the loan was going to be affordable and they can’t simply rely on what you said.
PF says
Hi Graeme,
Don’t expect it to be quick or easy against Moneybarn. I put my complaint in to the FOS in Aug 2019, it was picked up by an Investigator in Jan 2020. Many, many, many emails and phone calls during the next 10 months, trying to prove to the Investigator that the finance was unaffordable. Despite a credit file littered with CCJ’s and bank statements with thousands of pounds of gambling transactions, eventually in November 2020 the Investigator found in my favour. Though as expected Moneybarn have failed to respond and now I find myself in the queue for an Ombudsman to make a binding decision, possibly another 6 – 8 months with no guarantee that they will agree with the Investigator.
I wish you the best of luck.
PF
James says
Hi Sara,
Have used your site for a number of things and found it incredibly useful, so thanks.
I have a question that hoping you can answer.
I made a complaint to The Money Platform in Dec 2019 about a loan. They agreed to write off the interest and only pay capital. They said that no missed payments would be recorded and also said the loan would be removed from my credit file.
It took me a while to pay the capital (there were no pre-agreed dates) but this is now done. When I look at my credit file the account is showing missed payments since February, going from 1 (in a light yellow) to 6 (in a dark red). Clearly I think it’s unfair that they are present given they told me that they would not record them.
The loan will be updated to Settled on the 15th of this month. However, presumably the presence of this missed payments from Feb-Oct is going to have a detrimental impact on my credit score etc for a long time to come. Is that the case, or once marked settled will the rest largely be forgotten? Will there be any form of instant boost to my score?
Do you think I have a case for these missed payments/account in arrears to be removed? If so, what’s the best process?
Any help hugely appreciated. Thanks again.
Sara (Debt Camel) says
You need to complain to The Money Platform and say they agreed no missed payments would be recorded and that the debt would be deleted from your credit record. Ask them to do this. Take the complaint to the Financial Ombudsman if they refuse.
Jamie says
Thanks, after a few back and forwards with someone more senior they have now agreed to do it.
Will removing the loan (and therefore 6 months of late payment date, getting more severe each month) from my file likely lead to a score increase? Realise nothing is definite, but if so, by roughly how much?
Sara (Debt Camel) says
Good!
yes it should. Hard to say how much, see https://debtcamel.co.uk/credit-score-change/ but it depends on the rest of your credit record.
Tom says
Hi Sara,
You might say I am being “greedy” here, but I just wanted to ask your thoughts on something…
I have a large loan with HSBC. It fell into arrears and there was a period of about 12 months where I didn’t make any payments to it. Stupidly, I didn’t engage with them during this time as I was in a difficult place mentally, and they would only talk to me by telephone which I wasn’t prepared to do.
Now I’m in a much better place, and have got everything back on track with them. I am making regular payments and will just make more to reflect the payments that I missed.
Out of the blue, I received a letter from them this week saying “We’ve reviewed the quality of service that you received by our Recoveries team and…it did not meet the standards we would expect. We’re therefore enclosing a cheque for £25 to compensate for the experience.”
Have you any idea why they’d do this? I don’t want to bank the cheque and settle the matter if I might be missing something? My only thought is that it could be to do with the fact that they wouldn’t let me talk to them by any means other than telephone?
Any thoughts would be welcome! Thanks
Sara (Debt Camel) says
ah you are the second person to mention this £25 goodwill offer from HSBC.
So you tried to communicate my message or email and they said you had to call?
Do you know if they added on any extra arrears or interest because of this?
Tom says
Hi Sara,
Yes I tried secure messaging and email (and think I even wrote them a letter) and they insisted that the only way to communicate with them was by telephone.
As far as I can tell, there were no additional charges/interest – the amount I owe remained the same just clearly wasn’t getting any smaller as I wasn’t paying!!!
It strikes me as slightly odd that it’s come after my interaction with them (back in May, when I got things back on track) but I’m not sure what during that conversation they did wrong? They agreed that I would make three payments over three months and once I had, the loan would be considered “on track” and I would just go on paying…
Confused!
Sara (Debt Camel) says
So did their being difficult cause you anxiety at the time? If it did, you could reply with a couple of paragraphs saying why you didn’t feel able to talk on the time and the effect this had on your mental health. I would just be pretty honest – you aren’t trying to say they ruined your life or drove you to the depths of despair, but if you were having trouble concentrating or sleeping, that sort of thing. Then you could suggest that £25 seems rather inadequate.
You could also ask them if they added any late charges or extra interest on, as it has been worrying you.
Kyle the tent guy says
Hey, just had a decision in my favour with likely loans, they agreed with ombudsman decision and just wondered if anyone knows roughly how long companies take to give calculations and payout and such?
Jack says
That’s great news so there is hope! Thank you for your update
RS says
Last night I received the adjudicators decision upholding both of my loans for 118 (118 had completely dismissed my complaint). They have already accepted that loan 2 should not have been given with the FOS as no credit checks were undertaken. They have been given until 30th December to respond. Do 118 normally accept the adjudicators decisions and if so, what are their timescales for providing redress figures and refunding this?.
Sara (Debt Camel) says
yes then often do.
Rachel Rooney says
I’m glad you have got awarded your case. Can I just ask, how long did it take from a FOS case handler picking up your complaint to getting your decision?
RS says
Hi Rachel, I complained to FOS in July, it was picked up by a case handler on 26th October and got my decision from him on 15th December.
James says
Hi Sara,
I’ve had a response from 118118 who have decided they are not upholding my complaint.
How can I raise this with the FOS, not sure how to as this would be the first time I raise a case with FOS
Sara (Debt Camel) says
See the Send to Financial Ombudsman Service (FOS) section in the article above
J says
Hi,
I’m pretty sure this is not the right place to ask this but…
I have today received a reply from Virgin Money for a PPI claim which I submitted a loooong time ago (and actually forgot about). They’ve come back to me and sure enough, there is money to refund which is very nice. This is where it gets trickier.
I declared bankruptcy back in 2005 and there was an outstanding balance on an Egg loan which was included. I understand that any refund of PPI would need to go to my OR but wouldn’t it just be for any debt included in my bankruptcy?
The letter I received lists a credit card and about 14 loans, most of the loans would have been repaid before becoming bankrupt so I don’t understand why the refund on these would go to the OR?
I’m entirely fine if it should do (maybe it’s based on account number?) as I was in a real hole at the time but if not then what should I do to stop it all from going to the OR?
Thanks,
J
Sara (Debt Camel) says
Were all the loans and the card prior to you going bankrupt? Or were any of them afterwards?
J says
Hi Sara,
All prior to going bankrupt, but most repaid before becoming bankrupt.
Thanks
J
Sara (Debt Camel) says
Then I am afraid the whole refund has to go to the OR.
When you went bankrupt, the right to make this PPI refund claim was an “asset” that you did not know you possessed. That asset became the property of the OR and it still is.
J says
Ah yeah, I never thought of it that way. Oh well, it’s a shame but never mind.
Thanks again Sara, big help as usual :)
And Merry Christmas!
Mark says
For refunds is there ever a case that can be made if the debtor was on a good salary when they took out the loan but nevertheless their debt was getting out of hand? As their debt grew it got harder to find new credit and the loans were for progressively smaller amounts with “worse” lenders, ultimately “payday loans”.
Sara (Debt Camel) says
It’s not a lender’s job to say, “The loan is affordable but we won’t give it to you as you have a lot of debt”.
But if the loan is large they should look at your situation carefully and rapidly increasing debt may suggest problems?
You can win refund complaints despite having a good salary if the lender should have realised the loan was not affordable.
You are unlikely to win a single loan case if it was for a small amount asFOS is likely to say the lender had no reason to do detailed checks.
Elle says
Hi. So I made a complaint to 118 I had three loans they gave me a top up even after I had missed payments. Now I have had a very strange response from them. They are upholding only the last loan but for the below reason
You will note that I have not upheld your complaint regarding the first two loan agreements; however, I will be upholding your complaint regarding the last agreement 2607694 and the reason I say this is because unfortunately, due to a technical issue we are unable to view the credit file that was used to make a decision on this application and therefore, we cannot fairly defend this aspect of your complaint. Please note that this aspect of your complaint is being upheld purely because we cannot obtain the information needed to review this part; not because we have done anything wrong.
Do I take this to the ombudsman? Is there a chance the decision could be reversed and they could defend 118 and therefore add back on the interest from the loan? I have cut my remaining balance down by nearly £3000 as they have removed interest on the last Loan so don’t want to go To ombudsman and them defend 118 and add the money back on. Should I cut my losses on the first two loans? Any help or advice appreciated
Sara (Debt Camel) says
If 118 can’t produce any evidence they will definitely lose the last loan at the Ombudsman. In fact normally the Ombudsman will not even think about a loan which the lender has already agreed to refund, they will only look at the first two.
So as you think the first two were unaffordable and they aren’t actually offering you any cash, I suggest you go to FOS.
(If they had offered 3k in cash then you would have to weigh the advantage of taking that now compared to the delay of getting any cash by going to the Ombudsman. But here there seems no reason not to go FOS.)
Elle says
Thank you it just seems rather strange what they have said I have never known them say that they are only agreeing it not because they’ve done anything wrong but because they can’t download the credit record. I have also found the tone of their email very threatening about providing false information on my loan request and how this is fraudulent. I had a huge gambling problem at the time which is why I got in such a mess. I don’t want to get into trouble for providing as they call it ‘fraudulent’ information. I was desperate!
Sara (Debt Camel) says
118 did this quite a few people a year or two ago. I don’t remember anyone mentioning it recently.
yes 118 are really unpleasant. We have not known anyone have problems with this when they send a case to FOS.
Jim Flaming says
Hi Sara
Wondered if you could help please regarding a loan I had with 118 money?
I took out a loan of £2000 with 118 money in 2016 when I had circa £25k in other unsecured debt, with history of arrears.
I fell into a DMP in 2017 with all creditors and have been slowly chipping away at this but unfortunately 118 were the only lender to charge me interest and added the entirety of the interest to the balance making the outstanding balance circa 5k instead of 2!
Recently, I have come into circa 2k that I would like to full and final settle with 118 and have offered this to them new owner who is now Link Financial who are refusing to come down to 2k and stating I still owe 4k and must pay this, even though I only borrowed 2 and have been in a DMP for 3 years with them.
My issue with 118 is not only have they sold the debt to 118, but I raised a complaint in February and unfortunately did not follow up due to a health diagnosis in the same month.
I tried to reopen the complaint with 118 in December but they are refusing to speak to me as they are saying I did not respond or take to the FOS in the six month window.
I genuinely believe 188 have mis sold and the interest potentially being removed means I have the means to settle so I would really like to take to the FOS but not sure if I meet the ‘circumstances’ for an extension – do you have any thoughts on this?
Thanks Sara
Merry Christmas!
Sara (Debt Camel) says
Send it to FOS and explain the reason for the delay – that is all you can do.
RS says
Does anyone have an email address for 118 other than the complaints one to chase them regarding an FOS decision (they were given today as the deadline to respond).
Sara (Debt Camel) says
I suggest giving them another week.
E says
Hi RS, did you ever have any luck with 118 replying? They are due to response to FOS by tomorrow but still no luck. Thanks
Andy says
Hi Sara
My Clear Score report was updated today – when I logged in and looked at my changes section, it states that all loans with Elevate (Sunny) had been removed, but then re-added. Viewing my account list shows that the accounts are all still visible as though nothing had changed. I have sent an email to Sunny but their auto response says they will respond within 14 days.
Do you think this is an admin error on their part and the accounts shouldn’t have been reapplied, or could there be more to it?
Thank you.
Sara (Debt Camel) says
I have no idea what is happening!
KH says
Hi, I had a complaint rejected by everyday loans which I sent to FOS, it was picked up by an adjudicator at the beginning of September, I sent over everything additional they requested and they are still waiting for EDL to send over what has been requested of them, they have missed several deadlines but the adjudicator is saying as they have explained there will be a delay in sending info across as they have a backlog they will wait for it.
Is there a reasonable time to expect to wait? Can the Adjudicator make a decision without any response from them?
Thanks
Sara (Debt Camel) says
when was the first missed deadline?
KH says
They were given until the 16th of September originally, then said there was a 4 week lag on the 9th of October. Then on the 9th of November they said in the next few weeks and nothing since then.
Sara (Debt Camel) says
I think that is a long past being reasonable.
I suggest you send the FCA who is their regulator an email about this. The FCA will not look at your complaint, that is FOS’s job, but they should be told how badly an authorised firm is handing complaints.
Email the FCA at consumer.queries@fca.org.uk and copy this to chioma.nwachukwu@everyday-loans.co.uk
Subject: Everyday Lending Ltd trading as Everyday Loans (724445) won’t send my case file to FOS
Put in a few short details about your complaint – your loan(s), EL’s rejection, when you sent it to FOS. Then give the time line for when FOS asked for your case file and the repeated extensions.
Say you don’t think it’s treating you fairly to delay the Ombudsman looking at your complaint. And that any firm that cannot comply with a simple request for a case file within 3 months should not be in business.
Say you know the FCA will not look at your individual case but you thought they should know about this.
Phil says
Does anyone know how long Everyday Loans take to make a settlement payment?
I accepted the EDL offer via my adjudicator on December 17th and am waiting for EDL to contact me,
Timka says
I am curious about this too. In some sources I have seen them saying it takes about 4 weeks. I accepted a final settlement amount around 23rd Dec and waiting.
Luke says
I have had several complaints rules in my favour. The ruling is that the credit accounts be deleted from my file. Some companies have simply changed the credit file to always paid on time and fully settled., rather than actually delete it from my file. My question is will it be better for credit report to keep them on there or get them deleted?
Sara (Debt Camel) says
if they aren’t pay day loans then it’s usually better to keep them.
If they are payday loans and there weren’t large numbers of them and they were more than a couple of years ago, it’s usually better to keep them.
But recent payday loans I think you may want gone – they don’t hurt your credit score but some lenders won’t like them.
E says
I have a current complaint with 118118, it’s currently with FOS.
I have been giving them all info over last few days, I spoke to him yesterday and he said he has an idea of outcome m but can not yet tell me and I will get a response in a few days, I had an email just now saying he has all info he needs and will be investing and get back to me. So how long do you think this will take?
Ruth says
Some good news finally against 118. After being a priority case at the Ombudsman level since May 2020, they have finally ruled in my favour! Huge relief. Does anyone know how long it takes for them to pay?
Scott says
Hi Ruth,
They have 28 days to action the resolution so best to set your diary for then.
Anything less than this is a bonus.
Scott
J.smith says
I am wondering just how much things have slowed up with this lockdown etc. I first complained about a logbook loan nearly 2 years ago! The adjudicator ruled in my favour 6 months ago, and the company refused it so it been in an ombudsman queue. It feels never ending! It was meant to be a urgent case too as my car was involved.
Lea says
I have been wondering the same. I’m also in a ombudsman final decision queue , as adjudicator upheld but company refused , been 4 months now In that queue, my complaint in total has been with fos since August 2019 so 1 year 5 months nearly . Really hope it gets sorted before 2 year mark! I do wish they could at least tell you your place in the queue so you have some idea how many they have to deal with before you. ( I get they can’t give you a time frame as cases take different times). Is anyone else in similar situations?
Dave says
My original complaint was at the start of November – had an email apologising for no contact at the start of November, then got the following on 15th December :
What happens next
We try to resolve complaints as quickly as we can. But there’s currently a very high demand for our service – so it might take around four months before a case handler gets in touch with you and starts looking into your complaint. It could be more – or less – time than this, depending on what your complaint is about.
So hoping for something by May…….
This is for a complaint against Varooma – their initial reply said “we’ve done nothing wrong”…..!!!
Lea says
Ahh I haven’t received anything to say sorry it’s taking so long ! Hmm well I’ve been in ombudsman final decision ‘priority’ queue 4 months now so fingers crossed it gets picked up soon. I saw someone on here saying theirs took 8 months though in final decision queue , which if the case will mean it would have taken me to almost 2 years from start to end since starting the originally complaint .
Hope we both get ours picked up soon !
E says
Hello, FOS upheld 1 of 2 loans yesterday with 118118 money, they have given 118 till the 14th to reply? How quick/slow are they at getting back? Any one have any luck with quick reply’s from 118. Thanks
Steve says
Hey. I just wanted to let you know I had a loan upheld as well by the FOS for my friend and she is still waiting for a response from 118 despite them having until the 5th. I am on the call to them now so will keep you updated. It’s weird this comment has just come through. Lol
Steve
E says
How annoying! I don’t understand why they don’t just get it over and do with! Who did you call, 118 or FOS?
Good luck and fingers crossed she gets her money she is owed soon 🤞🏼
Zoe Johnson says
Hi Sara
I put in unaffordable complaint against Bamboo Loans using your samples. I received a response to say they are not upholding. But they have offered me £500 as I was unhappy and to resolve things swiftly and amicably. Do you think they are offering this so I do not escalate this to FSO?
Here is the some of the summary as I had to remove some as kept saying the post was too long.
Summary
In summary, Bamboo believes it made a fair lending decision in approving your loan after carefully considering your circumstances and affordability and we are therefore unable to uphold your complaint.
We are however disappointed to hear that you are unhappy with Bamboo agreeing to lend to you and in view of this, and in an effort to resolve things swiftly and amicably with you, we would like to offer you the sum of £500.00 in full and final settlement of your complaint.
We hope that you fully understand the outcome achieved. However, if you have any queries regarding our response then please do not hesitate to contact us. You have the right to refer your complaint to the Financial Ombudsman Service free of charge, but you must do so within six months of the date of this letter. If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances.
Sara (Debt Camel) says
Do you think they are offering this so I do not escalate this to FSO?
yes.
Has this loan been repaid?
If Yes, when and how much interest did you pay?
If No, what is the current balance and are they offering to clear that and give you £500
Zoe Johnson says
Hi
I repaid the loan in December. My brother offered to pay it off so I was not paying all the interest as it was but due to end until 2023.
But I’d been paying it since 2018 and I’ve just worked out the interest and it’s approx £5280.14 I’ve paid until I paid it off in Dec 2020.
Sara (Debt Camel) says
Well that is the amount you could potentially get from a FOS complaint.
You could go back to Bamboo and say you are interested in settling this quickly but as you paid over £5000 in interest £500 is not acceptable, but you would be happy to compromise on £2500… or whatever amount you would settle for now. If you ask for it all they will just say No.
Zoe Johnson says
Thank you I will go back with an offer and see what they say. If no joy I will escalate to the FOS.
Thanks also for your speedy response as well.
One thing with Bamboo they respond to this complaint within 4 weeks. I’d seen a lot of company’s not responding in the 8 week timescale.
Zoe Johnson says
Hi
I just wanted to check if Bamboo can do this. I went back with an offer and they are reviewing it and will let me know by Friday. But on my credit report today bamboo have done a credit check on me and it’s come up as a hard search. I’ve not applied for any credit with them but put in affordability complaint.
Amanda McCullough says
just wondering what happened with bamboo?
PM says
Hi, just looking for some feedback on people’s experience with 118, Bamboo and Likely Loans. I had complaints rejected by all 3, and referred them to FOS 9 months ago. Still not been allocated an adjudicator. Are other people having a similar experience?
Matt says
Hi. I referred a 118 complaint back in March and it was picked up by FOS just before Christmas. Hopefully on that basis you shouldn’t have too much longer to wait.
PM says
Thanks Matt, that’s reassuring to some degree. I’ve spoken to FOS today and was told that the current timeline is anything up to 12 months, so hopefully some progress in the next few weeks.
Steve says
Hi Matt. My mrs had one picked up by an adjudicator just before Christmas after being rejected by 118 in September. FOS upheld the complaint and gave 118 a week to respond and because they didn’t I called them and said they had not responded as per FOS terms. And they have come back with an offer on Monday which they have said they will pay in 14 days she can now clear of all her other debts which is a great feeling. Considering they were originally saying telling her no. Makes you wonder how many other people are getting intimidated by the letter of response. Which my mrs was going to accept. Keep at it hopefully will get there in the end.
Kyle H says
Hi Sara,
just wanted your opinion on the below, before Christmas received the below offer through my adjudicator from Likely Loans, i queried with my adjusicator as the 8% seemed very low (these loans had been ongoing since April 2017 and had been running pretty much concurrently until around June 2020). The adjudicator told me that “If you are happy to accept their offer, but dispute their calculation of the 8%, this is something that I would encourage you to pursue with them directly.” so i advised that this was what i would do. I expected them to contact me directly before making payment but having checked the payment has been made on my account, so i am going to email asking for their calculations on the 8%. Would you agree it seems very low?
Loan 1-4 Total amount borrowed £4500.00
Loan 1-4 Total amount repaid £7626.89
Total overpayment £3126.89
8% simple interest per year £ 88.87
Less Tax @20% £ 17.77
Total amount of interest due £ 71.09
Total redress £ 3197.98
Sara (Debt Camel) says
Were the loans repaid in June 2020? How large were the monthly payments at the end?
Kyle H says
loan details are below :
Loan 1 (Apr 17) £1500 @ £113.94 per month.
6 Payment made and then a final payment of £1437.61 – Total Paid = £2121.25
Loan 2 (Jan 18) £1000 @ £65.53 per month.
6 Payments made and balance of £860.30 (top up to £1860.30)
Loan 3 (Aug 18) £1860.30 @ £98.24 per month
5 payments made and balance of £1748.70 (top up to £2748.70) –
Loan 4 (Mar 19) £2748.70 @ £145.19 per month
17 payments made and final payment of £2054.79 (final payment actually Sept 20, rather than June 20) – Total Paid = £4523.02
Kyle H says
Not 100% sure, but even looking at the first loan which was paid off October 2017. There was £621.25 interest paid on this alone and over 3 years since the loan was cleared until the adjudicator found in my favour. So feels like even just the 8% on this one alone over 3 years should be more than the total they offered for all loans?
Sara (Debt Camel) says
even if they argue you still owed them money at that point – which I don’t think is a good argument – they have still got the calculation wrong because you must have stopped owing them money about 2 years ago…
Kyle H says
Thanks Sara, i will get an email to them and ask them for details of their calculations.
Kyle H says
Hi Sara,
Had a response from Likely Loans and just wondered it you had any advise?
They have pointed out theat the Ombudsmans decision stated they should add up the total amount received (£4500), deduct the amount paid (£7626.89) and then that if this results in Mr H having paid more than he received, then any overpayments should be refunded along with 8% simple interest (calculated from the date the overpayments were made until the date of settlement).
They have claimed that as i only started overpayments 20/1/20 they have only calculated from then. I kind of get what they are saying, but as loan 1 was a seperate loan altogether and was totally paid off a few month before the next loan (loans 2 to 4 were loan plus top-ups) does it seem right that they should use this to calculate when overpayments were made?
I’ve had complaints before but never seen the 8% calculated like this, usually it is based on each individual loan.
Sara (Debt Camel) says
I suggest you point out that loan 1 was not part of a continuous series of borrowing so they should calculate the 8% on that seperately.
J.Jones says
I just want to thank Sara and this website again. After receiving a win with Amigo loans I decided to complain about my logbook loan with Motorkitty. It had got to the stage where they had taken my car away. It has taken 2 years for this outcome as the adjudicator found in my favour, but Motorkitty disagreed. Friday I had a final decision from the financial ombudsman who found in my favour. Motorkitty have been instructed to refund anything paid over the initial £1000 lent with the 8% added, and also have been instructed to deliver my car back to me (as it hadn’t been sold at auction yet)
I am beyond happy as this situation caused me so much stress and anxiety.
Thank you for all of your work Sara
Sara (Debt Camel) says
shame it has taken so long but what a great result!
E says
Hi Sara. If you could just give me advice on the 8%? FOS upheld loan 2 but not 1, I have accepted there offer and waiting to hear back from 118 if they agree. Loan 2 was for £1,527.07 (was a top up loan) loan was taking out in January 2016 and in total I paid back £2,927.04. I finished paying in June 2018. How much likley am I to get from 8% interest? Thanks.
Sara (Debt Camel) says
Loan 2 was for £1,527.07 – was this the amount you received in cash? Or the total amount, included the amount to settle loan 1?
E says
Feb 2015- Loan 1 was for £1500 I paid back £2,379.24
Jan 2016 – loan 2 £1,527.07 then £777.07 paid off last loan and I received £750 in total I paid back £2,927.04.
FOS said they need to refund me anything over the capital on loan 2 and then an 8% on top? Hope that helps thanks
E says
Also would my estimate refund be on the full amount for loan 2 or just the £750 I received? Thanks
Sara (Debt Camel) says
Then you paid 2927-1527=£1400 in interest on loan 2. Plus very roughly £300 in in extra 8% interest
E says
Thank you for your help!!
Steve says
Hi Sara
How far back can you go for a claim? Please could you let me know. As I presume there is an expiry date.
Thanks
Sara (Debt Camel) says
April 2007
Steve says
Wow ok thanks. I have a debt from 2011 this is around the time when everything started to spiral so didn’t know if that could be put through and I have no where near enough to pay for mortgage at the time let alone anything else. I was struggling with everything.
Mike says
Hi Sara ,
Thanks for this site I have managed to get few thousand back with few lenders and as of now 4 pending with FO.
I have just recieved a reply from an adjucator regarding one of my complaint against CARCASHPOINT , I had 3 logbook loans with this company totalling £7000 (Total paid £15000 with interest) the adjucator has uphold my complaint and given carcashpoint until 26th January to reply . My question is , how good are carcashpoint with the adjucator decision ?
Sara (Debt Camel) says
Not many carcashpoint cases have been discussed here. Looking back the last person in your situation had them accept an adjudicator decision – but that was over 6 months ago so not very recent.
Fingers crossed for you that they do!
Andrew says
Hi glad you got a good decision CCP agreed with decision and I was paid out within 10 days I believe
No complaints there
RS says
Do 118 normally pay out within their advised timescales of 14 working days once they have accepted an adjudicators decision?.
E says
Hiya, I am still waiting for 118118 to reply to the FOS, how long did it take for them to reply? There last day to reply is tomorrow and I am not holding out much hope! Thanks and hope you receive your money soon 🤞🏼
Steve says
Hi I have just responded to another post but just to let you know FOS gave 118 until the 5th January to respond to my mrs so I contacted 118 a couple of times and it was only when I said to them they had missed the FOS deadline that someone responded back with the offer. So it may be something to consider if you don’t get a response. I also said to them we want them to make a note on the account that this was the case. For records. Hope that helps
Steve
E says
Thank you, I did email today to say the deadline is tomorrow and I have not heard anything yet and how long will it take and they replied saying I need to contact FOS not them as they will not be responding to me! Was a very rude email when I was simply asking. Fingers crossed they reply tomorrow, hope you both get your money soon.
RS says
They had until 30th December to reply to FOS for me. With the christmas break they did not meet this deadline but did respond on 4th January accepting the decision and with a breakdown of my redress which I accepted on 5th January. I am still awaiting payment but they have said it will be made within 14 working days.
Luke says
How long did they take to pay may I ask?
Pn says
Once accepting the adjudicators decision how long do avant usually take to get in touch are they one that drags it out to make payments
A says
Hi PN
Did you get this resolved with Advant? If so what was the process like with them? I’ve put a claim in with Advant in early December but I’m still waiting to hear the outcome.
Pn says
They have said it take 14days from accepting the adjudicators decision to get calculations and payment so at present I’m still waiting
Johnny says
Hiya, I had the same reply from Bamboo offering £984 off my balance. My balance is just over £2200 which is now just interest as I’ve already paid them over £2000 to date since Sep 2018. I haven’t been offered to release my guarantor or adjust my credit file. Should I reply asking again what I initially had asked for in my complaint which was interest on current loan, release of guarantor and adjust credit report for missed payments!
Sara (Debt Camel) says
At this point you either have to reject the offer or propose some form of compromise – repeating your original demand is not likely to get you anywhere. If you want the full refund, you may as well go to FOS now – which may be a perfectly reasonable option for you!
You borrowed £2000? How much have you paid them to date?
Johnny says
Yes Sara, borrowed £2000. Paid over £1800 so far and have £2900 left to pay. Total loan plus interest was £4730. £2730 in interest alone. So even with £900 off it I still would have £2000 left to pay Bamboo.
Sara (Debt Camel) says
So you could reply that you would be happy if they increased the amount off your balance to £1500 and agree to release your creditor as a compromise, or you will go to FOS and ask for the full refund.
Johnny says
I will give that a go Sara and let you know how it goes. Seems reasonable enough if they want to avoid a complaint to FOS. They also have to pay the FOS for each complaint. Is that correct?
Sara (Debt Camel) says
yes it is. But there is no need to point that out to them – they know!
Chris says
Hi Sara,
Firstly apologies if this is a stupid question, the adjudicator has upheld my complaint on the 2nd loan (top-up loan) with Likely Loans but not the first loan, the details of the 2 loans are:-
Loan 1 was agreed on 26 February 2018 for £3,000. The loan was repayable in 24 monthly
repayments of £195.58. The total repayable was £4,717.92.
Loan 2 was agreed on 30 August 2028 for £3,691.49. The loan was a ‘top-up’ of loan 1. The
outstanding balance of loan 1 was repaid and included in the amount borrowed. Mr P
borrowed an additional £1,200. The loan was repayable in 18 monthly repayments of
£291.34.
Will the interest that likely loans have to be refund be based on the £3691.49 or the £1200 which is the amount I actually received on the top up loan?. I still have an outstanding balance of around £2200 so if it based on the £3691.49 this will go along way to clearing this balance.
Appreciate any advice you can offer.
Regards
Chris
Sara (Debt Camel) says
The interest will be the difference between the total you have paid to loan 2 and the £3691.49 amount you borrowed.
How many monthly payments have you made to this?
Chris says
Thank you for the fast response Sara, I have made repayments every month albeit at a reduced monthly payment, my current balance is around £2200 so have made around £1500 of payments since loan 2 was issued. Do you have a rough idea of what the interest would be?
I am really trying to decide whether to escalate to the ombudsman to try and get the first loan included, I think I do have a case for doing this but also appreciate it will take many more months to get to a decision, if the interest due to be refunded would be enough to almost clear the £2200 it would really help freeing up the £130 monthly payment I am currently making.
Thanks
Chris
Sara (Debt Camel) says
You need to add up the payments made – you can’t work it out from the balance.
Chris says
Okay thank you Sara, so add up all the repayments I have made since I took out the top up loan and subtract this from the £3691, and that figure will be the interest due, is that correct?
Sara (Debt Camel) says
Yes
Colin says
Has anyone had any lucky getting refund from Savvy.co.uk
Njw says
Yes, I complained and savvy rejected it, adjudicator found in my decision and savvy rejected it then ombudsman found in my favour. Savvy paid but argued about the calculation of redress, I had to re involve the ombudsman but finally got my money. I now have another complaint about the with FOS about their conduct. Look up my trust pilot review under the same user name
RD says
Hi Sara. Firstly I would like to say thank you. My complaint with Bamboo was upheld. The loan was sold to TBI before I complained. I still owe money, so all interest has been removed and TBI acknowledged the reduced amount. I am currently receiving Universal Credit and back in Sep I offered to pay £5 per month until I am back in employment. After numerous back and forth emails they have now told me that they do not have to accept any offer I make considering the amount owed £1119. They have been holding my account for review for almost 4 months now and it is still under review. They had asked for proof of benefits, which I sent straightaway.
Are they in any position to refuse my payment plan? Even the small amount, I want it to be seen that I am trying to repay it.
Sara (Debt Camel) says
do you have any other problem debts?
RD says
Yes I have 8 other loans that I am paying back. They have agreed to a £5 per month payment plan. TBI are refusing to accept my proposal and they are not willing to move things forward.
Sara (Debt Camel) says
Well you could just shrug – what are they going to do?
Paying 8 loans £5 each is a lot out of your UC. You could seriously consider telling them all, including TBI that you can only afford £1 a month.
How much do the debts add up to overall? Do you think you are likely to be able to get a job and make serious repayments within a year?
Tyler N says
Just a post about Drafty if anyone has an account.
I complained about the account being unaffordable after they increased my credit limit multiple times from £320 to a £1000 when i was using it for gambling mainly.
They rejected my complaint in early 2020.
FOS adjucator decided they shouldn’t of gave me the first increase or any of the other increases as i was drawn the first £320 within 4 days and all further increases within 2 days aswell as defaults on my credit file within the last 2 years should of made them aware of potential concerns later down the line (which was true).. FOS decided they had to refund all interest since May 2018.. and Drafty agreed!.
Better outcome than i expected! £1019 refund on this one. On top of the £6000+ of debts refunded so far this year! Thanks Sara for the millionith time all these articles are the reason i had the confidence to fight my unaffordable debts!
And finally my FCA regulator complaint is progressing about their management of PDL companies and lack of protection for consumers when companies go into administration like Sunny, why isnt there a scheme similar to the PPI claims and a few other items. They emailed me today i should have their response in around 4 weeks they are still gathering information and investigating. Should be interesting
Sally says
Hi, in people’s experience, how long does it take 118 to send redress after giving bank details please? Thanks
E says
I just read below someone said it was only 11 days!! Can I ask how long did it take for them to agree with FOS? (If it went to FOS) there deadline was yesterday and I still have heard nothing! Starting to give up all hope.
Timka says
118118 take their sweet time to agree with ombudsman and go over deadlines easily. My investigator had to work on them for couple of weeks after the deadline to make them agree. Initially they even disagreed but the investigator told me, just wait a little, I am negotiating with them and then they agreed. Do not know how he managed to persuade them but my investigator was brilliant. But, once they have agreed to pay out, they pay out fairly quickly – for me it too about or just less than a week.
Matt says
My adjudicator gave them until 4th January to respond and they still haven’t. Really hope to hear something soon!
RS says
I provided my bank details on 5th January and received payment today.
RS says
Just to provide people with some guidance on timescales, 118 accepted FOS decision on 4th January and emailed me the same day with a redress figure. Funds have been received today. Other than a couple of payments I am awaiting for from pay day companies which are in administration, this concludes all of my complaints which have taken just under 12 months to complete (including FOS complaints). This website is a life saver, thank you Sara.
E says
Glad you received your money! Can I ask, did 118118 accept from FOS within time scale? FOS gave them till the 14th to reply (yesterday) and I have still heard nothing. 😩
RS says
They were required to respond by 30th December but with the christmas break they did not meet this deadline but did do so by 4th January. I would suggest letting the FOS know who can chase them.
Timka says
Just want to note my experience with Everyday Loans as I know people in the same situation are interested to know how it goes. I had one loan with them and it was fully repaid in 2018. In fact, due to their crazy interest rate, I repaid early by borrowing from some other company (not sure Bamboo or 118118 as their rates were cheaper). I sent affordability complaint to EDL on 10/11/2020, they replied on 23/12/2020 and said that they upheld my complaint, they also said that the “loan was affordable at the time but repayment schedule was not sustainable”. So they agreed to return all interest plus 8% statutory. They did deduct the 20% tac off the interest. I got paid yesterday 14/01/2021.
My experience with them has been good regarding this complaint. They were very professional, I did not have to go to ombudsman.
Holly says
Does anyone know how long it takes for avant credit to pay your refund when the ombudsman agree in your favour
Pete says
I’m in the same position as you they’ve told me 14days from agreement with the adjudicator to get calculations and payment
Colin says
Thank you for advice only had one loan with Savvy. The reject my complaint today. At the time i took this loan oug i was in an IVA as i had a serious gambling addiction, fong know if this is worth pursuing or not. Any advice would be welcome.
Sara (Debt Camel) says
how large was the loan?
Colin says
It was for £1000
Sara (Debt Camel) says
ok well they should definitely have checked your credit record and affordability for loan that large.
However you did breach your IVA by taking a loan over £500 without permission from your Insolvency Practitioner. And if the IVA firm is informed about it, they may try to claim the refund.
It is hard to know what to do in this situation.
Colin says
Thank you Sara the IVA has now been completed as this was a few years ago. I was just looking back through bank statements from around that time
Sara (Debt Camel) says
in theory the IVA firm could still claim this. Whether Savvy would tell them or the Ombudsman I have no idea.
Tim says
Hi sara. How do you calculate the 8 % simple interest. Does it start from your first payment or does the calculation start after you have paid the capital off? I mean does Provident deduct capital and interest together from the very first month . If you had a loan of 1000 pounds with 800 pounds interest. Does the the 8 % start after paying the 1000 ? This is hard to work out. Ta
Sara (Debt Camel) says
Bizarrely there is no simple answer and different firms do different things. Provident seem OK about this – not something to have to worry about.
Holly says
Can I ask what happens if it’s not all completed by then what is the next process, or do they have to legally have to arrange this
Sara (Debt Camel) says
Tell your adjudicator if you haven’t been paid in 28 days.
Lottie says
Hello Sara, I have had a response from FOS today regarding my complaint about the interest and irresponsible lending from Loans 2 Go/ Logbook loans. I had 3 loans in total from 16.11.2011 – 28.08.2013. FOS agreed they were irresponsible and should never have been loaned. They have advised them to pay all the interest plus 8% stat interest back. The interest is as follows.
16.11.2011 – Just interest £1036
25.07.2013- just interest £1526
28.08.2013- just interest £4790
Are your able to advise is the 8% from date of loan to YTD (ie:Jan 2021) and do you have any idea how much I would roughly get please?
Sara (Debt Camel) says
when was the last loan settled?
Lottie says
August 2015
Many thanks
Lottie
Lottie says
This was last paid August 2015.I also have a loan with £10.800 just interest, this started August 2015- and last payment was: April 2018 being last payment that I have been told needs to be paid back with 8% interest.. do you know how much I am likely to get back.
Lottie says
Hi Sara,
Not sure if you saw my response above or not. Was also wondering , as week as my question above, if : even if FOS agreed in my favour can the lender still refuse to give the redress?
Many thanks
Lottie
Sara (Debt Camel) says
the 8% would very very rougly be about 50% of the interest being refunded – less 20% basic rate tax on this 8% part.
I am not sure what sort of decision you have:
– If a lender rejects an adjudicator decision, it goes to an Ombudsman for a final decision.
– a final decision from an Ombudsman is legally binding on the lender.
I
Lottie says
Hi Sara,
Thank you , this is helpful.
The adjudicator said they need to put it right, and they wrong.
Are you aware of how long it would take The Ombudsman to then look at it? Is this likely do you think? I know you can’t say one way or another, but just in your experience?
I am already 10 months in to this process, and it’s really affecting my health.
Many thanks
J.Jones says
I have recently had an ombudsman give a final decision in my favour for a logbook loan. Because I have had a complete a 2 year nightmare with the company creative finance, I am worried they will ignore it. I know the ombudsman’s decision is final, and it’s only been 10 days since the decision, but I am seriously concerned that this company are just going to try and ignore this decision. What happens if the company doesn’t comply? I know I would have to contact the court to make a collections case. Has anyone ever had a company just not listen? And it have to get to this stage? I’m so worried as I’m due my car that they took back also.
Sara (Debt Camel) says
Talk to your adjudicator and come back here if it gets to 28 days.
Nands says
Hi there, is this with Motorkitty? They are the worst company ever. So rude and just despicable. The Ombudsman also provisionally found in my favour, so now waiting to see what happens. Would also like to know if the company has to comply, to the FOS decision? Thank you
J.Jones says
It is indeed with Motorkitty. Yes they were despicably rude to me, even when I reached out initially about having financial difficult. When I initially complained and told them I would go to the financial ombudsman their exact reply was.. Go and try your luck we don’t care, you won’t win. Well I did win! And now I can imagine they will ignore what the ombudsman say as they are the shadiest lenders on the market by a long shot
Thomas says
Good Evening Sarah,
My affordibility/irresponsible lending complaint with Mobile Money was not upheld. However due to the gambling transactions on my bank statements I sent them, they said as a gesture of goodwill they would offer me £250.00 to bring the matter to a close.
They said if I had missed anything I could contact them again to consider further. I replied and explained that Mobile Money had acted irresponsible by giving A False Statement Of Account of my payment history to another logbook loan provider to give me more money and clear my account with them. It showed a perfect payment history with all payments made and on time. This was far from the truth as my payment history was terrible.
I said that £250.00 did not reflect the whole situation and I would accept £1000.00 to settle.
What’s your thoughts with this Sarah please? Have I done the right thing?
Sara (Debt Camel) says
how much interest did you pay them?
Thomas says
Hi Sarah,
It was 1,500 interest paid, on a loan of 1,900. Its probably not relevant but my car ended up being repossed by the new logbook lender which cost me a endless amount of stress, getting it back etc…
Sara (Debt Camel) says
have you made a complaint against the second log book lender?
Thomas says
Not yet Sarah, my God they were ruthless!! Im pushing on with this first as I thought they would just say we have a statement from Mobile Money bla bla bla and your payments were unquestionable etc… to be frank if I thought I could hold them to account I would. Ruthless is an understatement Sarah.
Sara (Debt Camel) says
These cases take a long time. Get going is my advice!
If you paid £1500 in interest, then offering £1000 to settle sounds reasonable. If they say no, send it to FOS straight away.
Thomas says
Sarah, Thanks for the heads up. I will see what the craic is this week from them and act as needed. Cheers Thomas.
E says
Hi. FOS upheld my complaint and gave 118 till the 14/02 to reply, they have still not replied! He has now given them till the 21/02 to reply, he said if they have still not replied he will pass to ombudsman, has this happens to anyone else? Do I go back to the bottom the que and wait for an ombudsman or is it done quickly? Has anyone had an it upheld but then ombudsman has disagreed and not upheld the complaint? Anyone also still waiting to hear back from 118?
Thank you!
Martin says
It’s a great question, FOS upheld my complaint as well and gave them until today 18/1 to reply. I haven’t heard anything and I know I won’t. I’m not sure what to do either? surely they should be compliant with these deadlines and are liable to the FOS if not? I just want to get this finalised it’s been an absolute nightmare. I have learnt my lesson the hard way!
E says
Well I rang 118, they told me they will NOT speak to me as I need to go through FOS and they do not want me ringing and chasing again! I thought it was quite rude!! Im hoping to hear back soon. Fingers crossed for you 2!
Alexandra says
Hi, I have received my final response from my Bamboo complaints today. I have made an affordability complaint for 3 loans. Two of them were on the same year. Only a simple look at my bank statements and they would’ve known that I had a huge gambling problem. However they only upheld one of the three, the one that I paid the less interest on. Then they said that they couldn’t have seen my gambling problem, which is a big lie as you just can’t miss it, I’d play all my salary…. however they said they will refund me the interest from the little loan which is a £200 and as a goodwill gesture they will also give me £240…..my first loan of £2000 was taken out on the 15 Sep 2017 and was closed on 03 Apr 2018. The second loan was £2000 and I took it out on 03 Apr 2018 then I took out a top up of £5000 in December 2018. Should I accept their offer or should I take it directly to the FOS ? Thank you
Sara (Debt Camel) says
upholding the loan you paid the least interest sounds like a dreadful offer. Was that the first loan?
but Bamboo will sometimes negotiate, so let’s see what a good offer would look like…
Do you know how much you paid (total cash, don’t bother if Bamboo say it was interest or not) to the second loan?
And to the last loan?
And for the last top up, how much of the 5000 did you get in cash?
Alexandra says
I do not know how much I paid in total, I didn’t really cared at the time, I just wanted the money :/
But first loan was for £2000 for 60 months with a monthly payment of £78.84, then on the 30/03 I took out a top up loan of £3000, but only got £959.13 paid to me, the rest was used to pay the first loan, the monthly payment for this was £117.98 I paid this off around Sept 2018.
And then in December 2018 I took a new one of £4500 for 60 months with a monthly payment of £167.48, which I paid off in Sept 2019.
I’m sorry the first comment was wrong, I have just found the right figures in the email they sent today. Thank you for looking into it for me :)
Sara (Debt Camel) says
ok then I suggest you go back to Bamboo and say you want to consider their offer but you need to know how much interest you paid on each of the three loans before you can decide
Alexandra says
This is a little bit of their response;
Our final review is of the payments you have made and how you have managed your Bamboo accounts. Our records show you made all the repayments for each loan in full and within the same month they were due, with the exception of one payment on your third loan. All payments were made without any financial support required from your guarantor.
At no point prior to raising your complaint did you advise the loans were unaffordable for you. The loans therefore performed as scheduled and expected, and no detriment has been caused by Bamboo’s decision to lend. We note that you also settled your second and third loans early.
We are sorry to hear that you were experiencing issues with gambling at the time of your applications and hope that you received the support that you required with regards to this. During our consideration of your loan applications we did not see any sign or indication that you had any gambling issues. We are expected by the Financial Conduct Authority to be alert to potential signs of vulnerability regarding gambling issues and enquire further if we see such signs, but not to seek out this information without cause.
Sara (Debt Camel) says
that is just guff. It doesn’t mean you have a poor case. The Ombudsman knows that paying a bad credit loan on time does NOT mean it was affordable.
Delyth jones says
I challenged bamboo when they only offered a redress on 1 of 3 loans. I told them what I was expecting and the agreed it.
Alexandra says
so…I refused their offer, and I asked for the current loan that I have with them (£1200) to be wiped out and a further £900 paid into my account. They accepted without any comment. I did ask how much the interest for the 3 loans was and they said it was £4000. I realize that I probably would’ve gotten this back if sent to the FOS but I know it takes a long time for them to even look at one’s case as they are so busy. Half of it at this moment it’s better than months of wait. Thank you Sara for all your information
Tom says
Well done Alexandra, that’s a good result. It makes me feel hopeful that, if they make me a derisory offer, I can also approach them to request a counter offer. I don’t see much on here, about Bamboo, and there’s not a great deal on the FOS decisions website either, so I think they may be the better of a bad bunch?
Tom
Sara (Debt Camel) says
They aren’t any “better”. They are pretty small so not much mentioned. They typically make a very poor offer but can sometimes be persuaded to increased this to something more acceptable. You will get more by going to FOS but if the offer is OKish you may want to take it!
Tom says
Hi Alexandra,
Please may I ask how long Bamboo took to give you a final response? I complained recently and, like you, I always paid on time but this was because a) I shuffled money around constantly b) had a gambling problem (which has gone now, thankfully) and c) I just wanted the money. If they had asked for statements, they would have seen them littered with gambling transactions. Also, I had lots of high cost short term credit and loans/cards all up to their limit. I’ll be interested to see what they come back with me.
Tom
Alexandra says
Hi Tom,
It would have been 8 weeks on the 29th of January.
I have gotten back to them with what I want, I will wait and see what they reply. I am sure that I do not have a poor case, as you can clearly see from my bank statements how bad I was financially, and can clearly see how many loans I had at the time. When they gave me the last loan I was 32k in debt. They haven’t even once asked for my bank statements..
Sara, thank you so much for your help and responses x
RM says
Hi, This may be a stupid question so apologies in advance.
Last summer I took out two loans both 12 months term and £1000 – I was in a very bad financial situation after repaying payday loans and have been in my overdraft for years and with 2 regularly maxed out credit cards.
Loan 1 with 118118 with the total to be repaid £1,468.44
Loan 2 with Bamboo with total to be repaid £1,317.19
I am now struggling to pay any bills monthly because I am in further financial difficulty. Is it worth me emailing them trying to agree to repay the rest of the sum with no interest and would the loans be deemed irresponsible?
I can provide my credit karma report from the period I took out the loans when I had over 50 loans in my history and I also have bank statements that prove my financial situation then.
Have you heard of a case with just one loan still being repaid being deemed irresponsible?
Sara (Debt Camel) says
can you say something about the rest of your debts – how much do these add up to, including your ove4rdraft? Have you lost income because of Covid-19 or are your debts simply too large?
RM says
Hi Sara,
Yes, my overdraft is £600 and it’s always maxed out + 2 credit cards with a maxed out limit £600 total. I finished paying a Mr Lender loan in October which was also a one-year term.
Since then I have been relying on family help regularly for paying bills as I did not want to rely on loans due to the interest.
Sara (Debt Camel) says
ok so in that case irresponsible complaints against these bad credit lenders are well worth pursuing. As the loans were large, they should have checked your situation even though it was the first loan. One loan cases can be won!
But the complaints may well have to go to the Ombudsman which will take a long while. So I suggest rather than rely on family, you should talk to StepChange and a debt management plan to include these loans, the two cards and the overdraft. Interest and charges will be halted so you payments will start really reducing the balances, rather than running to stand still.
If you then win the affordability complaints then the DMP will end much sooner! But it will get you into a secure position while the complaints go through.
E says
118118 have finally agreed with the FOS and I am now waiting for my refund! They have said 14 days, can I ask how long it took for 118118 to pay people out? Thanks for all your hard work Sara!
Martin says
That’s great news! can you tell me please how did 118 118 get in touch with you regarding your refund and amount? was it by call or e-mail. I am waiting on them to contact me after the FOS agreed in my favour. How long were you waiting on them to contact you after the FOS agreed in your favour?
E says
Today was 5 days over the deadline and it was by email, try leaving a few trust pilot review’s 2 hours after I left my last one they responded by email!! Good luck!!
RS says
I provided my bank details on 5th January & was paid on 15th January.
Martin says
Still waiting on 118 118 to get in touch with me despite me contacting their customer services a number of times now this week and leaving a review on Trust Pilot! The deadline passed on 18/1/’21 so this is a good indication of timelines to other people who may be in the same situation. I just want to get this finalised but no hurry from them.
Karen says
Finally, after 18 months with the FOS, the Ombudsman did not uphold my Moneybarn complaint. This is despite a suspended repossession on my house the month before I took the car finance out, and bank statements showing little money coming in. I now think my name is on a list there that prevents the FOS actually finding in my favour. Five out of Five complaints not upheld. Oh well, thank you for the help and thankfully next week my credit report has the last two defaults drop off and all finance and arrears sorted out. For the first time in 15 years I will have a nice clear credit report.
PF says
Hi Karen, well done getting your credit report back on track. I know how difficult this is as I am going through a similar process. Sorry to hear you haven’t been successful with your complaints – can I ask was your Moneybarn complaint decided by an Investigator or actual Ombudsman? My complaint was upheld by an Investigator but because Moneybarn haven’t responded it has been escalated to the Ombudsman for a final decision. I haven’t seen reports of many people winning complaints against Moneybarn, so i am keeping my fingers crossed the Ombudsman agrees with the Investigator on my case.
PF
Karen says
Hi, Thank you and it was the Ombudsmen made the decision. The adjudicator rejected it then the ombudsman agree with her and did not uphold the complaint. Well done for winning your complaint.
Colin says
I had several loans with different money. Are they still trading or gone bust so not worth complaining. Also had loans from mini credit
Sara (Debt Camel) says
Both of those have gone bust.
Caroline says
Hi I have strange one Adventcredit upheld my complaint offered a refund which I agreed to. When I asked when I would get the refund they advised they would pay it to the debt collector. I explained the debt had been paid a full a year ago. They refused to give me the refund so I went to FOS who agreed with me that as there was no balance to reduce the refund should be paid to me. Advent credit have disagreed and it’s now going to the Ombudsman. Has anyone had this happen before? I have sent proof to the Ombudsman the debt was paid in full and there was no balance to reduce.
Sara (Debt Camel) says
I haven’t heard of a case like this.
Darran says
Quick question, I made two complaints about buddy loans and uk credit because if they viewed my bank statements they would have seen I was dependent on gambling, 90% of my income and had several payday loans which I was also using to fund gambling. buddy offered a settlement which I accepted but uk credit refused so it has gone to ombudsman, are they likely to decide in my favour seeing as buddy loans did with hesitation? Ps. I no longer gamble and am gradually getting my Finances back on track
Sara (Debt Camel) says
Sorry I missed this, questions about guarantor loans are best asked in the main guarantor loan page: https://debtcamel.co.uk/how-to-complain-guarantor-loan/
Bryan says
Anyone taken out a complaint against 1st stop finance/ now oplo? Just wondering whether to pursue claim against them.
Sara (Debt Camel) says
They aren’t a huge lender – you can’t assume that anyone who has had a case against them will see your comment… so if you think you were given an unaffordable loan then send them a complaint and take it to FOS if it is rejected.