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?
Lottie says
Hi Sara, I just wanted to let you know Varooma offered £7709 settlement following FOS recommendation- without this service I would not be in this position. I will be giving a donation to the CAB. Also to anyone out there losing hope, hang in there. I still have a few more going through, but pleased to have two large claims now with others on going.
D Jacob says
Hi,
Did Varooma agree with adjudicators decision or an ombudsman decision? I have adjudicator uphold my complaint but awaiting Varoomas response now.
Thanks
D Jacob
Lottie says
They agreed with Adjudicator – which I am shocked at.because the adjudicator did tell they hadn’t done 1 area wrong, but they agreed all interest and charges, credit file amended and 8% interest. They had until 25th Feb but cam back today to say they wish to make an offer.I am really happy.
Dilmon says
That’s brilliant. Mine’s deadline is 02/03 so hopefully they will reply by then. Fingers crossed now.
Thanks for the info
Cheers
Lottie says
Good luck, I hope you get the redress you deserve:)
Annie Goodfellow says
Hi has anyone had any success with logbookloans. Com I only submitted it today and they have already acknowledge receipt the interest was huge 1000 loan 3000 interest I 2018 and I have lots emails where I had to delay paying and stating I wasn’t getting sick pay etc and cldnt afford to pay etc
Sara (Debt Camel) says
do you still owe money on this?
Lottie says
Hi, I submitted mine in August. FOS upheld my complaint against 3 loans £25k in Total interest. It’s now gone to the final stage of Ombudsman- but mine go back to 2009-2013 loans and they tried to say it’s out of time. I just hope the ombudsman agrees and also upholds. I think they will be a longtime – however if your 2018 they may say it’s recent so you may have better luck! Good luck with it :)
Jack says
I am currently in the process of a complaint against moneybarn for irresponsible / unaffordable lending
I have spoken with the financial ombudsman advisor today who is dealing with my case
My car was bought in Feb 2017 and is due to end next year! It was a 5 year loan, the original car price was £7,210 and the Apr was 37.8% giving me a total credit amount of £14,521.67p
I have £5000 left on my car to pay, with £1000 of this being in arrears,
The FO have advised that if the case was to go in my favour that money barn would take the car back and would give me a refund all any interest & charges paid minus the current arrears of £1000
I was wondering if anyone would know what amount I would have paid in interest so far? I’m trying to work out if it’s worth going ahead, potentially having my car taken back, but using the money refunded to buy a second hand car, but I don’t know if the money I would receive would be worth it or just continue paying the finance for a year, though I’m finding it hard to pay and have been for most of the agreement
If anyone can help me it would be much appreciated
Sara (Debt Camel) says
How much have you paid so far in total? Ignore if this is interest or capital repayments.
I think you have to be honest with yourself about the chance of you repaying £5000.
What do you think the second hand value of the car is now?
Jack says
Hi,
Yeah so the original car price was £7,210 and the Apr was 37.8% giving me a total credit amount of £14,521.67p
I have £5000 left on my car to pay, with £1000 of this being in arrears, so I’ve paid £9521.67 so far of the overall total
I could use webuyanycar and get £3000 for the car now if it was fully paid off, which currently isn’t the case, it wouldn’t be paid off until Feb next year as I have £5k left on it
I don’t know the price of the second hand car if I was to get one, that’s the thing I’m stuck with at the minute
Do I just continue to struggle for the last year of the finance and pay off the £5k, or do I proceed with the FO complaint and potentially have the car returned & my interest I have paid refunded
I’m just unsure on what I could have refunded should I do that option, I don’t want to be left worse off
Sara (Debt Camel) says
Can you afford the £400 a month it would take to pay off the current finance?
Have you actually added up what you have paid so far as you may not get the right number by trying to work it out from what they say you owe.
Jack says
I wouldn’t be able to afford £400 a month, my repayments are £246.12 or so, but I have built up £1000 arrears
I am in the position that my mum has offered to lend me the remaining balance needed at the end of the agreement / the arrears to pay if off and pay her back,
But I am just unsure whether it’s worth just going for the refund of interest and fees and then letting them have the car back and starting fresh with a second hand car using the money I would recieve giving me no monthly payment
Sara (Debt Camel) says
so a refund of the interest and fees would mean you didn’t have to make any more payments after that you you wouldn’t have to repay your mum.
But it’s hard to guess what you might get back unless you can add up what you have paid so far.
It would be very unusual for you to be worse off from a refund. If you think you would be, you can always tell FOS at that point you reject it and would rather carry on paying.
Chantal says
Has anybody had any experience with Ferrartum? I’ve put in a few claims to companies over the last 2 weeks and they’ve been the least responsive out of all of them. Safety Net Credit & Bamboo both upheld my claims and paid out within a week but I haven’t heard anything back from Ferrartum
Kirstie says
They settled with me within a week of me putting in claim.
Martin says
Actually, they were the fastest in my case. I have requested the statement of past accounts – it arrived after a week or so. Then it was super simple: complaint, redress offer next day, offer accepted, cash in bank same day. All in about 10 days, Their way of arguing was also quite fair: If the first loan was small, second large, they refused to refund the interest from the first but refunded all others. Considering the general impotence of the FOS I have decided to accept the offer
Nick says
Has anybody put in a claim against everyday loans? If so, how did you get on with getting necessary compensation? Been waiting nearly 6mths for the FOS to appoint an adjudicator to my case. Did everyday loans offer a fair settlement and ammend your credit score accordingly?
Michael says
Hi
I just wanted to share my experience with Bamboo Loans
I have accepted a ‘good will’ offer of £1200 as full and final settlement of my complaint.
Initial offer was £300 then increased to £649. I have paid £2491.79 in interest over two loans so I responded with a compromise of £1200 which they have agreed. Significantly less than full redress amount should my case have been upheld by FOS but I’m happy to settle and move on.
Very helpful advice , thank you!
Jax says
I found them very easy to deal with. Received my final response within a week of making my complaint and they removed nearly 5k of interest leaving me with a much smaller balance to pay.
Nands says
Hi all, I had a final decision made in my favour by the Ombudsman against Motorkitty. Its been a month, and they still haven’t answered my emails or got into contact? Not sure what my next steps should be? I did email the Adjudicator to mention this, bit also no reply yet….
Sara (Debt Camel) says
Go back to the adjudicator again. Be persistent.
GP says
The ombudsman has upheld my complaint against Avant. Any idea how long Avant take to settle the claim? Thanks
Nands says
MOTORKITTY _To say I am annoyed but not surprised is an understatement. I just had this reply from my Adjudicator after a final decision from the Ombudsman.
Any help or input will be greatly appreciated.
Motorkitty has responded back to the ombudsman’s final decision – they have informed us due being effected by COVID they were not able to respond back to the provisional decision on time. They have also informed us that they still disagree with the ombudsman decision and have stated they want to take this to the high court if we fail to review the decision.
As an final decision has already been issued – I have gone back to the ombudsman who made the final decision to clarify what her position will be on this matter.
Once I receive a response I will update you as soon as possible.
Sara (Debt Camel) says
You said on 17 Jan there was a provisional decision in your favour.
When was it made final?
Nands says
My final decision was received from the Ombudsman on 7th February.
Sara (Debt Camel) says
I am not sure if Motorkitty are just very upset about not being allowed more time because of covid-19 and asking FOS to review in the ligth of that.
Or if they are saying they intend to take this case to Judicial Review. Which is their right, but it is just incredibly rare. In over 5 years of affordability complaints I have never seen it done. It would be a pretty expensive option for Motorkitty to go for if they are just peeved about the timing of this case.
Nands says
Hi Sara, yes, its very strange but to be honest, as a company they are terrible, so not surprised. They are probably using it as a delaying tactic. Guess I’ll have to wait and hear what the Ombudsman comes back with. Thank you x
vern says
So today the £2k redress payment from 118 118 hit my account. I took the complaint to the FOS last year and they ruled in my favour. I can finally close the chapter on all the pay day loans, expensive loans and guarantor loans I have taken out in the past. Ive managed to get back 8k with the help from this site and Sara (amigo, satsuma, lending stream, sunny). I started over 18 months ago this journey and its been horrendous the waiting for responses and payments but finally its over.
This time next year I will be 40, debt free and my credit rating will be a lot better. Thank you Sara.
Good luck to all those who still waiting and keep the faith.
Nesta says
Hi Vern,
How long did 118 118 take to respond and agree with the FOS? I have had a decision ruled in my favour and they have 2 weeks to respond. Just wanted to check if they replied within the timescales as i notice many others have not had the reply in time from 118 118.
Thanks
Nes
Vern says
They tend to agree with the fos but email on the last day of the 2 week period to say that they agree with the decision. One they agree You have to email them your bank details – which you get an email saying can take upto 4 weeks to receive your money
Tom says
I have now received my final response, from 118118, and (unsurprisingly) they have rejected my complaint. However, their response is incredibly brief and very vague. They have not mentioned anything about the points I have raised, such as having multiple high interest credit cards, other high cost loans and gambling. I mentioned all of this as the basis for my complaint and why I felt the loans should not have been granted. The main points they make are that it was up to me to provide accurate figures, financially, and that I ‘accepted’ all of the T’s & C’s when I pressed ‘submit’. I am going to take this to the FOS, as I feel they have not addressed anything which I have raised. As it’s taken them nearly 8 weeks, to come to this conclusion, and the poor response, I feel I’ve just been batted off.
Vern says
Hi,
I was the same high volume of credit and gambling present etc. Send to fos and wait it out. They take all that into consideration.
Laura says
My FOS investigator has given Likely Loans a week to respond to her suggestions – that they uphold all 3 loans I had with them.
My question is how long do they take to respond, and do they tend to agree?
Thanks
Tom says
They responded to mine, within the given time and agreed with the adjudicator after rejecting my complaint at first.
PH says
Afternoon all,
I have had, finally (after submitting the complaint back in Feb 2020) a response from my adjudicator. I borrowed £5,500 from Everyday Loans and my adjudicator has written to EDL stating that they think I was lent irresponsibly.
Should I expect EDL to send this to ombudsman, or should I expect swift resolution with this? Does anyone have any experience of the decisions with EDL?
Thanks
PM says
How long have people waited for cases to be picked up by an adjudicator? I have cases with 118, Bamboo and Likely Loans that were logged with FOS 11 months ago and I’ve heard nothing. I escalated them yesterday and was told the cases will be assigned within the next 4 months?! That doesn’t sound right to me, so looking for other people’s experience please
Laura says
Hi, I waited 13 months for both my 118 and Likely Loans to be picked up. They were picked up by an investigator within a week of each other
PM says
Thanks Laura. Hoping I’m not too far off then.
Lea says
Hi
I know someone just asked a similar question but mines about final ombudsman decision.
Is anyone on here currently in the queue for final ombudsman decision ? Priority or not priority queue? If so how long been waiting?
Also if any ones recently had their case picked up by final decision ombudsman how long had you been waiting?
Everytime I ask them how they queue works for final decision ombudsman is it first come first served or another way …they ignore that question and answer all my other questions. If anyone knows the answer to that on here would be good to know too :)
Thanks
Lea
Sharper says
Hi Lea, I submitted a case to FOS against Capital One in October 2019, it was reviewed by an adjudicator in September 2020 (they didn’t uphold my complaint) and finally given an Ombudsman decision at the end of January 2021 (upholding my complaint). All my other complaints were dealt with by adjudicators and varied from 3-18 months in being picked up.
Lea says
Thanks for the info!
Yeah my payday loan complaints always got picked up and resolved quickly by adjudicators but my nationwide one is proving a while.
Sent it in similar time sept 2019 got picked up July 2020 my adjudicator kept giving nationwide credit card more and more time and they kept delaying but I said in October 2020 could he please just put in the final decision queue so he did and now still waiting!
Thanks
Lea
Sally says
Hi ,
My I had a complaint about carcashpoint which was initially declined by CCP .
I sent it to FOS where the adjucator upheld all my loans , and gave them until January 16 , but they came back and said they do not agree with 1 out of 3 loans and later my adjucator again reviewed my loan and sent them an email saying that she still believes that all 3 loans were unaffordable and gave them until February 23 , but now they are not replying to the adjucator, I emailed my adjucator and she said she would chase them and see .
Looks like I’m headed for the senior ombudsman now .
Emma says
They wouldn’t reply to my adjudicator either so I emailed them and copied in the CCTA and FCA. I had an answer back within the day from a lady at the CCTA who said they had informed her they would have their response with the adjudicator by next week. 4 weeks after my complaint was upheld. They are, apparently, running on less staff. 🤔
James says
Hi,
Bamboo upheld my complaint as they told me they should never have given it me as they didn’t look at my full credit file. They have agreed that I should only pay back which was borrowed – they have registered a default on my credit file, should this default be removed?
Thanks
Sara (Debt Camel) says
yes, they should remove any negative marks on your credit record. And allow you to repay at a lower more affordable rate.
James says
Thanks Sara, it has been passed to a debt collection agency, would the same apply to them in regards to any negative Marks?
Sara (Debt Camel) says
Yes. the lender has to sort out the debt with the debt collector – this means taking account of what you have paid the debt collector and getting any negative marks removed.
PC says
What happens if a company refuses to accept the FO’s final decision? And instead, threatens legal action? What recourse does a person have then?
Sara (Debt Camel) says
is this a theoretical worry? or are you in this situation?
PC says
Hi Sara. I am in this situation with a logbook loan company, Motorkitty. The FO upheld my complaint in full, but they are arguing they didn’t have enough time to respond, due to Covid. They have stated they will fight it in the High Court if necessary.
Sara (Debt Camel) says
ah.
Someone else has exactly the same issue, see https://debtcamel.co.uk/refunds-large-high-cost-loans/comment-page-22/#comment-411051.
Talk to your adjudicator about it – this is FOS’s problem to sort out, not yuours.
Linds says
After a lengthy process with a complaint for Everyday Loans where the adjudicator did not agree with me at the first stage of the FOS complaint process, I have been sent a provisional final decision today by the Ombudsman over turning the adjudicators assessment and agreeing that I had been irresponsibly lent for one of the loans.
I’m trying not to get my hopes up with it all – the last time the adjudicator originally agreed with me but then overturned based on new information EDL presented (which i disagreed with and referred to Ombudsman for final decision).
Has anyone had experience with EDL where a provisional decisions has been issued ahead of the final decision. As i understand it, it only happens where the Ombudsman overturns the adjudicators findings. EDL have fought me on it every step of the way. If they present any new evidence do I get a chance to dispute it ahead of the final decision?
Roly says
Hi, am in the same position. The ombudsman gave Everyday a month to get back to them – which was up on 21st Feb. I checked with my adjudicator and she said there hadn’t been anything new added to my file, but I still haven’t received the Ombudsmans Final decision. Am a bit anxious, but hoping it will all be over soon.
Linds says
Oh gosh -EDL have been given until the 19th March to get back to them in my case. I hope we both hear very soon – it’s always tough having it so close but not confirmed.
Roly says
It certainly is. EDL are my last complaint to be done, though they were the first complaint I made, back in January 2019. I just want it to be over now, and am a bit annoyed that the ombudsman still haven’t made the decision final, given it is now 2 weeks past their deadline and adjudicator isn’t being that helpful about when it will be sent.
Linds says
That’s the same situation with me EDL are my last big complaint but potentially its one that would have a big impact. I didn’t have a great experience with my first adjudicator so I am hopeful the Ombudsman process is different. I guess we have to stay hopeful but its frustrating at times. I hope you get your decision and refund soon.
Roly says
Finally had word from EDL with my settlement letter, though still not actually had word from the Ombudsman, so can only presume that they have contacted EDL! So, my final complaint is nearly done. Just got to wait for the funds to come through now!
Linds says
Thats great news Roly! So pleased for you!
EDL have until Friday to get back to my Ombudsman re the provisional final settlement – so a bit more of a nervous wait for me!
Roly says
I’m 2 wks post that date now, so even if the Ombudsman hasn’t sent out their final final decision (still not heard anything from them!) that settlement may be heading your way soon!!
Roly says
And the funds are in my account! Was not expecting that, given they’ve taken an age on everything else!
So relieved that a process that started in Jan 2019 is finally done.
Thanks to Sara, and everyone on this and the other threads over the past 2 years, it has made such a profound difference mine and my hubby’s lives. We have paid off all our debts and finally own a house of our own (been renting in UK, but now have a very cheap fixer-upper in France!)
I will be making my usual post- win donation to CAB, and cannot ever express how grateful I am, and how much our lives have turned around.
Linds says
That’s amazing Roly! So pleased for you. Like you say this site has made such a big difference, even if I don’t win this one I’ve won lots of others and it’s helped greatly.
Nervous wait for me now until final decision comes through but keeping the faith!
Linds says
Just had my final decision through in my favour! Im so happy/relieved.
EDL didnt reply to Ombudsman so they have gone ahead and ruled in my favour. I can’t quite believe it after a long and drawn out fight. will delay celebrations until money is in my account thought!
Nick says
Congratulations. I’m currently awaiting on my case against EDL to be finalised, it’s been waiting to be processed by an adjudicator from the FOS even though as of yesterday’s date it’s been 6months of waiting. How long in total have you had to wait and may I ask did you get a good settlement offer from EDL?
Linds says
Hi Nick
My case has taken quite a while from start to finish – about 18 months in total. It took a while for it to be picked up by the FOS – i think it was over 6 months, and then as the adjudicator didn’t agree with me and I referred it for a final decision. I’m awaiting the settlement letter now from EDL who I have no doubt will drag their heels for the full 4 weeks they have to process the settlement amount but i’m hoping to be paid by next month.
But well worth waiting & seeing how it goes, as my refund should be roughly £5k which is almost going to wipe my remaining debt. I hope your case gets picked up soon!
Emma says
Hi
My husband’s complaint against carcashpoint was upheld by the ombudsman in Dec.
They were given 4 weeks at 5he beginning of Jan to get in touch but hadn’t.
The aducator gave them an extra 2 weeks but they still haven’t been in touch.
I emailed Nick at carcaspoint like you suggested and still nothing.
Is there anything I can do please?
Sara (Debt Camel) says
Tell your adjudicator you would like the case to go to an Ombudsman.
Emma says
It has been to the ombudsman. My husband’s case has even been published. But he’s still not been paid.
It’s so frustrating.
Jess says
Has he been paid now Emma?
Chantal says
Hi Sara,
I put in a claim to Pounds to Pocket, they responded on 6th Feb saying that my claim was not being upheld. I escalated to the Ombudsman without fully reading that their was an appeals process (within 21 days) to the Joint Administrators.
The Ombudsman sent me back a response today referring me to the Administrators, but I’m now 6 days out of the 21 days appeal period.
Am I still within my rights to appeal as I had technically escalated it (but to the wrong people) within that timeframe?
Other affordability claims around the same period have been upheld by other lenders so I think I have grounds to appeal?
Sara (Debt Camel) says
Well you can try. I don’t know if the administrators will consider an out of time appeal.
Paul says
Has anyone had a successful affordable claim against likely loans? Just going through the motions for mine.
Thanks in advance
Tom says
They rejected my complaint, but the FOS adjudicator held up both my initial loan and the subsequent ‘top-up’. They agreed with the FOS and refunded me all interest.
yellow rose says
Yes, we had two successful claims against them with full refunds. However they didn’t complete the credit file correctly so we have raised a new complaint against them. Getting pretty fed up with their tactics but at least we got our refunds. It took 13 months for each case to be won and we supplied the ombudsman with all the information required.
GH says
Likely Loans didn’t uphold my complaint so I went to the FOS. An adjudicator picked up my case Monday so waiting now on the outcome
Laura says
Likely Loans have until tomorrow to respond to my FOS investigator. Something tells me that this is not going to happen though even though I have heard they do respond in the given time. I was hoping for it to not be dragged out any longer
Tom says
They agreed with mine, within the given timescale. However, they may be delayed due to the pandemic? I’d chase up, with your adjudicator, if they don’t reply by close of business tomorrow.
Laura says
Funnily enough an hour after posting this I got the confirmation email to say they agreed with the FOS.
How long did it take them to pay you?
j says
Hi,
Just wondering if TrustTwo guarantor loans are the same as Everyday Loans?
I’ve placed an irresponsible lending claim with them, but reading through the comments in this feed and not seeing a lot of positive experiences with EDL.
Thanks,
J
Sara (Debt Camel) says
It is another brand name of the same corporate group.
Some people get a good response from Trust Two, others have had rather odd and poor offers with calculations that look wrong, others have had a rejection and then won cases at the ombudsman. So a mixed bag.
The best place to ask about these complaints is on the main guarantor landing page: https://debtcamel.co.uk/how-to-complain-guarantor-loan/.
Martin says
Hi Sara,
I hope you can advise please? I won my unaffordable lending case with the FOS regarding a 118 118 loan and have now received back the funds which I overpaid on my original loan. Unfortunately on my 3 credit files the loans exists under Lowell. It was sold to them a few months after I got into difficulties repaying. The FOS stated to them that all entries in relation to this loan should be removed from my credit files. Since it still exists even after the FOS instructed them I emailed 118 118 to remove any entries relating to this loan. They have replied stating “Please note that we do not report to Equifax and the attached screenshot is for an entry by Lowell Group and not 118 118 Money. You may want to get in contact with the debt purchaser regarding the below details.” Surely 118 118 should get in contact with Lowell to get these entries removed? is that correct? or do I have to contact Lowell myself and ask for them to be removed?
Thank you
Sara (Debt Camel) says
So FOS upheld all your loans? But 118 have only dealt with the original loan not the later loan(s)?
Martin says
Apologies for the confusion, it was just the one loan and the FOS upheld it. I took the loan out of 118 118 it was then passed to Lowell for debt collection purposes. The FOS instructed 118 118 “To remove any negative information recorded on Mr. Martin xxx credit file regarding the loan”. Currently within Equifax, TransUnion and Experian the loan is listed under Lowell and still shows as an open account even though I have won my case, the balance is clear and have received a payout from 118 118 for overpayment. Who should remove these entries from my credit reports in respect of the loan?
Sara (Debt Camel) says
OK 1 loan – has the refund you have had from 118 taken into account the balance at Lowell and the amount you have paid to Lowell?
Before you can talk about what the credit record should look like, it is important to know how 118 calculated the refund.
Martin says
Yes they did thankfully. The balance at Lowell is now showing as £0 and closed when I log into my online Lowell account. Previous to the FOS ruling it was approx £1250 unfortunately however my credit files do not reflect this at the moment (they still state £1250 as the balance for Lowell) 118 118 refunded the over payment of this loan and included the 8% statutory interest.
Sara (Debt Camel) says
ok well in that case 118 Money have sorted things with lowell financially and it is Lowell that has to correct your credit record. You could try to make 118 sort this out but it is probably less painful and quicker to do it yourself.
I suggest you email Lowell and say that they have now corrected your account which correctly shows a zero balance, but they now need to remove the debt from your credit record with all three credi reference agencies. Attache a copy of the FOS decision saying the debt should be deleted.
Nick says
Hi all.
Does anybody have an idea of how far behind the FOS are on managing cases? I am currently nearing the original 6mth time period in which my original case was sent over for an adjudicator to look into my case but I’m assuming there might be more significant waiting time on my hands. Also has anybody had a claim against everyday loans? If so, how long was your process from start to finish and did you get a fair offer/refund?
Thanks in advance.
Nick.
PH says
Nick,
Ring the FOS in the morning, and ask them for an update on your case.
Mine was submitted to the FOS in April last year, and I have just been handed an adjudicator, and a judgement within a week of chasing it.
My outcome was positive (one loan, found to be lent to irresponsibly, full refund of all interest etc), but now waiting for EDL to respond to the adjudicator. I’m expecting that they’re going to reject the decision and sending to Ombudsman for a decision so maybe a bit of a wait.
Lottie says
Hi Sara, I was after some advice if possible:
I now have my redress from Varooma as per my complaint- it was for £7709.36 which o accepted. They didn’t give me a breakdown, but I am happy with their offer. I do not know if it included the 20% tax already being deducted for tax, I assume I will need to do this myself? -,I don’t want to be landed with a big tax bill. But just wanted to ask. Many thanks
Sara (Debt Camel) says
Excellent!
You have to ask them how much 8% interest was added and if they deducted tax. There is no way you can guess at these amounts.
Lottie says
Brilliant, yes I will – many thanks. Looks like loans 2 go and Buddy loans have to pay out too. Not al finalised yet, as FOS upheld them. 2 still with FOS one with the Ombudsman- so just got to wait. Not counting my chickens just yet though!
Yvette says
Hi lottie, did Varooma respond to adjudicators decision and then process payment? If so how long did you have to wait? My complaint has been upheld by FOS adjudicator and Varooma have until the 25th to respond. This has been going on for so long, I just want closure now.
Any help would be appreciated
Yvette
Lottie says
Yes they went with Adjudicators findings. It wasn’t agreed and paid within 4 days even quicker than the date they had to respond. So fingers crossed you get the same. My offer was more than I expected too xx
Yvette says
Oh I hope I hear something soon, they have had the findings since the 11th March and still haven’t responded. Just feel so stressed with it all. Was hoping to have a response today so at least I could sleep easier this weekend. But nothing received, that also makes me think they are just delaying things and placing additional undue stress and anxiety on me.
Tom says
Hi Sara/All,
Please can you advise on how I should proceed in this circumstance?
I am looking to make an affordability complaint against London Mutual Credit Union who gave me 3x loans, as follows:
1x small, short-term loan, Feb 2015, 250.
1x small, short-term loan, May 2015, £400.
(both of these were paid back in full and on time and are marked as closed, with no negative markers on my credit file)
1x large loan, in Oct 2015, £1500
(defaulted in May 2016, CCJ obtained in Aug 2016, CCJ satisfied in May 2017).
With regards to the credit union, I no longer have account numbers etc, but I am certain that this large loan was unaffordable to me based on my credit situation at the time and also my gambling addiction at the time, which was clear from bank statements, therefore I would like to pursue an affordability complaint.
I have the following questions:
Should I use the large loans template for this?
In lieu of account numbers, should I provide my name, date of birth, email address (used in application) and address (used in application)?
If I was to win this complaint, would the CCJ be removed?
PS. I have commented on other posts and have had some good success at turning my life around, financial situation now stable and gambling addiction is no longer. I am just looking to correct my credit file to move on with my life (house, car, etc…).
Thanks for your time.
Tom
Sara (Debt Camel) says
Should I use the large loans template for this?
yes. I suggest you consider asking for a refund for the third loan only as the previous ones were small.
In lieu of account numbers, should I provide my name, date of birth, email address (used in application) and address (used in application)?
yes
If I was to win this complaint, would the CCJ be removed?
I suggest you put in the complaint that you want the CCJ to be “set aside” – that is the legal term for deleted.
Stuart says
I recently made the final payment on a loan I had taken out with Likely in a moment of desperation 3 years ago, the loan was for £1000 and the charge for credit/interest totaled over £1600! The repayments caused me some difficulty but I always found a way to make them on time. When taking the loan my financial situation was pretty grim but has improved somewhat now.
I still feel the loan was irresponsible as no one else would lend me money at the time and rightly so. Even although my situation is much improved now would I have any chance of being successful with a complaint and indeed is it right to do so?
Sara (Debt Camel) says
An affordability complaint is decided on what your situation was at the time you took the loan. It may have got worse since then, that will not help your case. It may have got better since then, that will not harm your case.
Stuart McClelland says
Received a response to my complaint from Likely today. They had previously sent over all the SAR documentation just under a week ago.
I’m fairly impressed by the promptness of their reply but less so with their decision. They have stated my complaint can’t be upheld. The reasoning seems to suggest this is because I only had one loan from them, didn’t miss any payments, didn’t flag up as a rejection in their automated system and settled the loan early (that part is true but it was less than 2 weeks early and was largely done to save myself £15 in interest).
They have acknowledged in their decision that I had 3 defaults on my credit file at the time of the loan. However they have stated I had no active payday loans at the time of acceptance. This is technically true but a cursory glance at my credit file at the time shows this was an exception rather than the rule in the months and years around then. They have also stated my active credit agreements were reporting well at the time. I was certainly making payments on time during that period (as opposed to defaulting as I had previously) but all of my credit was at or very close to the limit.
I have now escalated to the ombudsman and sent them over the rejection plus all my supporting documentation. I’m not too hopeful but I’m in a somewhat fortunate position now where it’s not really about the money and more a point of principle now.
Nigel says
If you tell obdusman you were unemployed as that’s what you told bank
Would obdsuman check and anyway they can check?, without you sending proof
Sara (Debt Camel) says
FOS will normally want to see your bank statements, so I suggest you don’t lie to FOS.
Shaun says
Quick question i took edl to fos and lost it was advised to make a payment plan woth them and currently paying 25 a month. The loan defaulted in 2017 , however i received a letter today stating that interest is being added on my total, can they do this ? Any advice much appricated
Sara (Debt Camel) says
Have they agreed £25 is all you can afford?
Do you have other problem debts too?
Shaun says
Currently thats all i can afford, Im managing my other debts, just wanted to know if they can add interest even though loans defaulted
Sara (Debt Camel) says
Are you making the full contractual payments to your other debts or do you have payment arrangements for some or all of them?
Yvette says
Firstly can I say thank you for all your help and advice with everything on this site, simply invaluable.
I’ve recently had a response from the FOS adjudicator with regards to a log book loan with Varooma. They have upheld the complaint after Varooma declined. The FOS have given them until the 25th march to respond to his findings. In your experience have varooma/Greenlight often accepted the response of the adjudicator or do they push it to the ombudsmen to try and delay things? Thanks in advance for any advice you may have. Varooma should be refunding approximately £2700.
Dave says
The adjudicator has not agreed with me about my claim against Varooma. From reading the email, there are two things that I feel I need to go back with.
One is that according to the recording of the call, I said that my DMP had ended. I am not sure why I would have said this (if indeed I did) but it simply was not true. I have been in a DMP since January 2018 and it is still running.
The second is that Varooma did not carry out any credit checks at the time. This is the text from the Adjudicator :
“As proportionate checks weren’t carried out for the loans, it is difficult to say what Varooma would have seen if it had reviewed your credit file.
We haven’t been provided with evidence from the time of the loans, such as a credit file from 5 July 2019 and 11 September 2019, to show what Varooma would’ve seen if it had carried out proportionate checks by reviewing your credit file.
The Transunion credit file only shows defaults from 2020 and not from 2019. The Insight report on file doesn’t show any specific loans.
As a result, I wouldn’t be able to find that Varooma’s shortcomings caused you any detriment. However, if you can provide any further evidence, it can be reviewed.”
Any advice about how to go back to the adjudicator to address these and seek to get the right result?
Many Thanks in advance (again!)
Sara (Debt Camel) says
Have you heard the call recording? if you used the template complaint from here, you would have asked for a copy of all your personal information, including call recordings, were you sent that?
If your DMP had ended, then you should have been asked what payments you would be making to the debts that were in your DMP.
Were there defaults before 2020 or a lot of payments arrangements or missed payments? These should still show on your credit records.
Dave says
Listening to the calls that were made and recorded my replies were not definitive as to whether or not I was in a DMP, just that I had arrangements in place. I can see that I looked as if I was being vague, but the questioning was not totally clear. My original answer was yes, I have a DMP, but then it got confused.
The DMP had not ended – I know that, and has been running ever since. The bank statements clearly show payments being made to Stepchange throughout.
The defaults missed payments stretch back to January 2019 and as such show up on any credit report following that date.
I just need some advice of how to go back and disagree!
Thank you!
Sara (Debt Camel) says
Well I can’t tell what you said, but you can go back and argue that the questioning wasn’t clear and point out that if the arrangements/DMP had ended then Varooma should have asked if the debts had been settled or if not how you were going to pay them.
Also point out the default on your credit report were from January 2019. Say if Varooma cannot produce any evidence about what their checks showed, then FOS should assume that they saw the defaults from January 2019.
Ask for this to go to an Ombudsman if the adjudicator won’t change their mind.
Dave says
Adjudicator didn’t change their mind, so off to the ombudsman I go.
Apparently the credit checks that were carried out at the time by Varooma were only to get a credit score (which would have been dire) and to show that there were no CCJ’s. No further detail. They also don’t have a copy of that any more.
It has been accepted that I did state that I was in a DMP and that the bank statements showed payments going to Stepchange.
I have provided all evidence of the defaults, showing when they were first registered on my file and so hopefully the ombundsman will see that this where the adductor could not (for some reason)
Fingers crossed for a “speedy” result in my favour……
JoJo says
Hi Sarah and everyone who else who helped with my journey. I am finally glad to say, I am now debt free, and the last 3 complaints (LL, EDL and 118) are now upheld by an Ombudsman – LL very quick following the final decision/acceptance, EDL confirm 7 days for payment – 118 need to make some enquires before they can confirm redress. Jan 2019 I commenced my journey into becoming debt free, and issuing my complaints and now finally happy everything is now concluded, stick with it guys its all worth it in the end. I will continue to follow Debt Camel to see if i can help anyone else. I am just so relieved now thats the end of my complaint/FOS journey but well worth it in the end. (I have loads of other lenders apart from the above 3 also) all finalised. Once again thank you all for your help and assistance over the 2 years, and Sarah you are a star. Thank you.
Sara (Debt Camel) says
Lovely. A new beginning for your finances.
Michelle says
Evening Sara,
I have been reading your page for a while now and I have made many complaints and won all of them without the need for the fos so thank you for this incredibly helpful page , my question is can a complaint be made to other lender other than high cost or guarantor loan ? I have 2 very large loans with hitachi finance and 2 with creation finance , I am self employed and neither company asked for evidence of pay or bank statements and at the time I had many payday loans, credit card catalogue etc .
Thank
Sara (Debt Camel) says
Yes! the rules are the same for all loans – so if you show the repayments on the other loans were unaffordable then you should get the interest removed.
I do want to say though how much debt do you have? Is this sustainable? because if you simply have too much debt for your income, then affordability complaints by themselves may not get you back to a sustainable place.
Michelle says
My debt was out of control but with all the complaints iv won and loans iv had wiped , I only have theses 4 left which only have a year left to pay on them , so if I complain and get theses ones upheld too , iv already paid back well over what I borrowed so would come out debt free
Sara (Debt Camel) says
Then good luck!
Marie says
Hi,
In 2018 I took out a loan for £2000 for two years. The interest rate was 103.9% meaning the total I paid back was £4753. Way more than double what I borrowed. It made things difficult for me, but I was able to pay it back in the end. Is this level of interest even legal, and do I have any cause to complain, even though I did afford to pay it back?
Thanks
Sara (Debt Camel) says
There is a cap on the interest that can be charged on payday loans but not on large longer term loans. So yes, this is very probably legal.
But if repaying the loan was difficult it may have been “unaffordable” – read the article above and see if you could make an affordability complaint about it. Who was the lender?
Amanda says
Hi, please can yous advise me on what to do? i had taken 1 loan, 2000, then applied feb for top up, was refused, then apri was granted 2000. so 2nd loan cleared part of 1st loan. 2nd loan was when i got into difficult then went to a debt collector. can i ask do yous think this is a good offer? they where asking for 300 a month to pay 2nd loan off and i had late payment charges. i asked them about interest but they didnt reply with amount, i thought i would may 1500 between both. they said they did not uphold my complaint but at the end wrote this.
“In summary, Bamboo believes it made a fair lending decision in approving your loans 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 whilst we are happy that we acted appropriately, there is considerable cost to administering complaints such as this. We are also sorry to see that that you struggled with the repayment of your top up loan.
We are therefore prepared to refund you the sum of £250.00 in full and final settlement of this complaint we also agree to remove the Default from your credit record.”
Sara (Debt Camel) says
Bamboo often makes poor offers but can be persuaded to increase them. But to do that you need some facts.
I suggest you reply to them that you would like to know how much interest you paid on the first loan and on the top up loan so you can consider whether to accept their offer.
Amanda says
thanks sara, I have done that. hopefully hear back soon. i just said i appreciate how they have worked with me and there offer, that I knowthey have sent me documentation as requestes but could i ask for a specific amount of interest paid on both till i consider.. delighted tho about default, would that include any negative comments aswel like a late payment or arranged payment or do i need to state that? my main complaint did state all negative comments
Amanda says
sara they reponded with just under 1400 paid in interest and late payment charge
Sara (Debt Camel) says
Then £250 sounds like a poor offer, doesn’t it?
If you want the full amount, you have to send the case to FOS. But if you would be happy with say £800, you could replay and suggest that as a fair compromise?
amanda says
thanks sara, i think half that would be great, happy to get 700 and all negatives comments off.. hopefully they are ok with that. can they refuse and take away their first offer or they accept or counter offer?
Sara (Debt Camel) says
There aren’t any rules here. You don’t want it to go to FOS as you would rather have a quick settlement. They don’t as it will gost then the high FOS fee, it’s just a question of will they compromise, and many people have got them to.
Amanda says
thanks sara for all your help.. they phoned this morning, said they cannot do 700 as they are not up holding my complaint but will meet me at 500, also taking all negative comments off including the default. i am happy with it. not as much money but delighted all negative comments will be off my account, one step closer to getting to buy a house.. your website has helped so much! thank you x
Nigel says
Any idea why person looking into my complainet who said it will be sorted in a few weeks now sent me this? My complaint was during payment hoilday bank put missed payments, because I was in arrers from before I don’t agree, and wasn’t aware this would should and they keep removing and adding defult..can’t be that hard to sort out
I’ve looked through all the information on file and have decided that another team is best placed to look into your complaint.
I can assure you that your complaint will be looked into, and the team will contact you as soon as they can. Please note there may be a wait to hear from them.
Sara (Debt Camel) says
No sorry, have you asked which team this is being transferred to and why?
Nigel says
Yes, awaiting reply
Nes says
Hi Sara,
Just wanted to say a big thank you to yourself and the amazing site you have which offers so much help and advice. Today after over a year of waiting since my case went to the FOS, 118 118 have agreed with the adjudicators decision and asked me for my bank details to refund me.
In the end i have had the interest on all my loans removed.
118 118 only waived the interest on 2 of my loans and the other 4 when i initially complained so i escalated it to the FOS. I just want to reiterate please do not be put off if the lender rejects or only partially upholds your complaint.
I do have one final question, does anyone know what 118 118 are like with processing refunds? It does say it can take 14 days, but i am hoping it will be sooner. In these uncertain times money is tight and this will help tick me over for a bit.
Thanks
Karen W says
Hello well done! 118 took about 11 days 7 if you don’t include weekends.
Dave R says
118118 took 7 days for me. Comes through as two separate payments, the 8% amount and then the redress amount. Payments came through within 15 mins of each other.
Nesta says
Thank you Karen and Dave.
That sounds reasonable, i will post an update once the funds hit my account.
I was relieved that they agreed with the adjudicators decision. I think the most impressive form of refund i have had is via lending stream. If you accept their offer you click on a link they share confirm your bank details and within minutes the money was in my account.
That is probably the only positive with Lending Stream as they are a nightmare to deal with.
Nesta says
Hi,
I am just wondering did you get any acknowledgement email from 118 118 when you confirmed your bank details for a refund?
I’ve not heard anything back and i’m not sure if i should. Is it a case of them just refunding you?
Roly says
Does anyone know how long Everyday Loans take to pay out once they have made settlement offer? Thanks!
JoJo says
Hi. I had offer, 9th March. Agreed 10th and they told me funds will hit my account 17th so 7 days. ….will update you again on Wednesday to say if this happens.
Roly says
Thanks. Fingers crossed for you for 17th!
JoJo says
Hey Roly. Update. Funds processed 17th (their weekly day is Weds) received today 18th. 😊
mike says
I’m trying this with my mortgage company as they gave me 4 further advances, even though they knew I was in massive debt and had only just had a eviction order with them overruled by the judge.
I don’t suppose it will work but their actions has caused me to have an interest only mortgage that can never be paid off.
Sara (Debt Camel) says
which lender?
JoJo says
Does 8% on £1452.88 sound right at £58.45. sorry my maths is bad. £1452 is net of £354 balance that was owed but wiped clear. thanks in advance
A fellow reader says
My guess off your figures..
would be around £88
Then deduct tax..
your 8% would be around £70.28
Sara (Debt Camel) says
So I can’t say it is wrong. The “8% simple interest” is 8 per cent per year on each interest payment, not 8% of the total amount. Where a loan hasn’t been fully repaid, it tends not to add up to a large amount .
JoJo says
Thanks Sarah. If it’s wrong it’s not by much then. I am going to accept and bring it to a close. X
Yvette says
Firstly can I say thank you for all your help and advice with everything on this site, simply invaluable.
I’ve recently had a response from the FOS adjudicator with regards to a log book loan with Varooma. They have upheld the complaint after Varooma declined. The FOS have given them until the 25th march to respond to his findings. In your experience have varooma/Greenlight often accepted the response of the adjudicator or do they push it to the ombudsmen to try and delay things? Thanks in advance for any advice you may have. Varooma should be refunding approximately £2700.
Lottie says
Hello , I got my accepted by FOS against a Varooma declined it. They came back to FOS within 3 days not the two weeks, accepted FOS findings and paid the money in my account with 24hrs £7709 – good luck – hopefully they will do the same for yourself.
Yvette says
Hi Lottie,
Thanks for your reply, and congratulations I’m so pleased it has all been rectified for you. I truly hope to hear something soon, the stress is phenomenal and constant worry every month.
FOS have given them until the 25th to respond. Will hopefully sleep better after all of this.
Thanks again and well done x
Andy says
Hi All,
Just had the ombudsman uphold my complaint to Avant and they agreed.
Does anyone have any idea how long they take to action to remove from credit file and pay the agreed interest and 8%?
KC says
Hi Andy
The FO emailed me to advise Avant had agreed with them for my complaint, and that very same day Avant emailed me with a calculation and the money was in my account, all happened on the same day i was shocked! This was at the end of January so they may have more to get through now, but i cant imagine you having to wait very long. Well done btw.
Holly says
How long did it take for them to refund your redress
Alison says
Could you please tell me who owns log book loans now is it loans to go!? thanks
Sara (Debt Camel) says
are you talking about really old loans?
Alison says
It was in 2008
Sara (Debt Camel) says
The company trading at that point as “log book loans” I think was NINE REGIONS LIMITED. It is in liquidation but someone said they were getting a payout but it was only 1.7p in the £.
You can contact the liquidator here https://www.insolvencydirect.bis.gov.uk/fip1/Home/IP/8826
So far as I know there isn’t a connection with Loans2Go?
PF says
Hi Sara,
I am currently awaiting for an Ombudsman to be assigned after an Adjudicator upheld my complaint against Log Book loans. When I originally requested the DSAR about my loan I sent the request to Loans2Go and they supplied the information but stated it was a loan taken out with Nine Regions? Surely if the loan was with Nine Regions then Loans2Go shouldn’t have access to my private financial information with another company unless there is a link?
My Adjudicator wasn’t very helpful when I asked this question, just said the Ombudsman would deal with it. I may have to bring it to the attention of the ICO if Loans2Go aren’t forthcoming as it could be a breach of data protection.
Thanks,
PF
Sara (Debt Camel) says
ok so there is obviously some connection between them. It will be interesting to know what the Ombudsman says.
Brian says
can anyone help? OPLO claiming they do not hold call recordings as it is after 3 years, and they were formerly 1st stop. I’m sure the call would prove my own figures weren’t used and I was nudged to putting ‘average’ bill figures. I have pretty strong case already, but recordings would have been great to have also.
Lottie says
Hi Sara, I have to today had my response from FOS who have now written to Buddy loans to tell them their findings show the loan was not affordable and sustainable and they had not done all their checks and lent responsibly. My question is; have your heard of Buddy are paying out the redress on any other loans or in your experience are they pushing it back to the ombudsman to look at, as a double check before paying out, in the hope the ombudsman doesn’t agree with FOS? Or have they paid on FOS findings? I know nothing is guaranteed, but I just wondered. They have until 1.4.21 to come back with their response. Many thanks Lottie.
Yvette says
I’ve recently had a response from the FOS adjudicator with regards to a log book loan with Varooma. They have upheld the complaint after Varooma declined. The FOS have given them until the 25th march to respond to his findings. In your experience have varooma/Greenlight often accepted the response of the adjudicator or do they push it to the ombudsmen to try and delay things? Thanks in advance for any advice you may have. Varooma should be refunding approximately £2700.
Yvette says
Still no response to the adjudicator from varooma. The amount of stress is phenomenal, just want to be able to move forward.
Alison says
I have just read an bbc article for 2012 saying nine regions limited went to liquidation but log book loans set up again under hermes property services who also own loans2go. So maybe that’s why there is a link between them both
Jack says
Hi Everyone,
Just wanted to give an update, I complained to moneybarn about my car finance being unaffordable & being lent irresponsibly, I had an adjudicator assigned about a month back now, and yesterday received an email with the letter attached that they have sent to money barn saying that they felt they had done what I complained about,
They have given moneybarn until 2nd of april to respond, the debt itself was for £7210, with an APR of about 39.4% and an overall Finance of £14,521!! I have currently paid off £9500
And now the adjudicator has suggested that this should happen
“I’m recommending the following:
– Cancel the agreement
– Transfer the ownership of the car to jack
– Refund any overpayments made by jack after deducting the cash price/capital
of the car and adding 8% simple interest from the date of the overpayments to the
settlement date
– Remove adverse information from his credit file”
This would be incredible if they agree to this, if not I assume it will go to an ombudsman to decide?
This would mean the car is mine, and that I would recieve about £2500 back I think!
I’m so glad I found this site, I used the methods previously for some payday loan refunds, but if this comes off it will be life changing for my self and situation
Finger crossed for the response from moneybarn now
Mark says
Hi ,
I put a complaint into Moneybarn to , they rejected it saying “ they do not and are not required to carry out affordability checks , and that the repayment was only 18% of my salary “ so I’ve sent it off to ombudsman about 5 months ago so I’m
Just waiting ,
Jack says
Good luck I hope you get a result, I waited about 9 months for an adjudicator! But if they now side with them I will be more than happy about the wait
They said the same kind of thing about mine, and mentioned they had done credit checks and payslip checks “but no longer hold these on file”
We shall see what happens over the next week or two
PF says
Hi all,
Great to hear there are more Moneybarn affordability complaints being upheld now.
Anyway just to give you a bit of a heads up as I seem to be a little further along – Investigator assigned Jan 2020 – Investigator view to uphold complaint sent to Moneybarn Nov 2020. Moneybarn given 4 weeks to respond – no response. The Investigator then gives them a further 2 weeks, ‘due to the amount of complaints they are currently dealing with’, but no response. My complaint then went into the queue for an Ombudsman decision – the Ombudsman issued a provisional decision in Feb 2021 – Moneybarn were given 4 weeks to respond – no response! This brings us to March 2021 and earlier this month an Ombudsman issued a final response upholding my complaint – to which Moneybarn still haven’t responded! I have tried contacting them through their portal and email but still nothing. I have brought this to the attention of the FOS and they have advised that I should give Moneybarn a further 2 weeks to provide the redress settlement as previous complaints have been settled within this timescale. So another 2 weeks to wait then hopefully it will be concluded. I hope this helps anyone waiting with timelines and response expectations.
Good luck,
PF
Jack says
That’s good to hear others have done this and won against moneybarn, my adjudicator had been bang on it and very speedy with everything, but I don’t mind waiting on money barn if the result is in my favour,
Did you complain during your finance agreement or once it had finished?
PF says
Hi Jack,
My original complaint went into Moneybarn in July 2019, while I still had 8 months of a 4 year agreement to run. They obviously dismissed my complaint and it was escalated to the FOS in Aug 2019. Due to the time it took to get allocated an Investigator and for the investigation to finish, I completed the full term of the agreement. I didn’t realise I could raise a complaint until I came across this site and started to understand what unaffordable lending was all about – thanks to Sara and this site I have completely turned my finances around.
Good luck,
PF
John says
Hi . Do you know if you can claim for credit union loans ?
Thanks john
Sara (Debt Camel) says
CU loans can be complicated but it is possible. Not many people have talked here about them. How many have you had?
John says
Just the one. It was for over 6000, been paying it back for over 6 years.
Sara (Debt Camel) says
So if you think it should have been clear from the start that the repayments were unaffordable, that is worth making a claim on.
Technically CU loans aren’t subject to exactly the same regulation as other lenders, but they do have to treat their customers fairly and should follow industry good practice. So just send in a normal complaint using the template in the article above.
Let us know how you get on?
Vickie says
I have had 2 logbook loans one after the other with 2 different companies. The first I had missed payments (due to being a compulsive gambler) the car was repossessed. I did manage to come to an agreement with the loan company and got my car back. Easy logbook loans Scotland
Again being stupid and addicted to gambling I took amount another logbook loan so I could pay my rent. I have had a top up even though the company are aware I have an issue with gambling. This loan is not paid off yet I have £1000 left out of £4000 (loan was £1000) Auto advance
1. I have complained to the first company they have not responded how long do I have to give them and what is the next step?
2. Am I able to complain to the second company whilst there is still an outstanding balance?
Thanks
Sara (Debt Camel) says
1. 8 weeks from the date you complained to them. Have you not had any acknowledgement? “Easy logbook loans Scotland” – which lender is this?
2. yes you can – no reason to delay. If they gave you a top-up when they knew you had a gambling problem that sounds like a strong complaint!
Vickie says
The first company is easylogbookloans I had a gambling problem when I took this one out also and had a top up too. I have not had any acknowledgment regarding my complaint. This was 1-2 weeks ago.
For the current loan if I complain, are they likely to reposes my car? This one I asked for a top up and they seen that I had a lot of gambling transactions they advised me to wait 6 weeks without gambling on my bank statement then I could get a top up.
Thanks
Sara (Debt Camel) says
ok, as you have the SAR they have definitely got your complaint. Just sit back and wait for a reply or 8 weeks.
They can’t repossess your car if you carry on making the repayments.
Vickie says
I am behind on my payments. I have been shielding for some time due to covid so I have had very little income.
Sara (Debt Camel) says
have you taken 6 month covid-19 payment break?
are you making payments to other debts at the moment?
Vickie says
Yes I have, I have completed their covid questionnaire and requested to reduce my payments going forward by half until I return to work. I have sent them in shielding letters. Proof of furlough and payslips. They have not accepted my request.
I am behind on council tax and other priority bills that I am trying to sort out just now.
Sara (Debt Camel) says
Making an affordability complaint should not affect whether the lender will repossess your car, but you are obviously in a very precarious position. Can I suggest you should talk to a debt adviser about your whole situation? Phone National Debtline on 0808 808 4000 – they know about affordability complaints.
Simone says
Hi all, I’ve had a final decision from Likely Loans today rejecting my complaint. They said that their loan was of low value (£3500 with over £7500 to repay!) and they had no obligation to check my income matched what I had declared by way of bank statements etc. If they had, they would clearly have seen that my income was lower. I also had over £10K of debt already but they said as I’d said the loan was for debt consolidation they had every reasonable belief that this would lower after the loan paid out. Feeling a bit defeated – I know this loan was unaffordable, should I send to the ombudsman? Any advice gratefully received.
Sara (Debt Camel) says
yes! £3500 is not a small loan.
If you know the loan’s repayments were always difficult from the start, let FOS look at this. Likely Loans are just trying to put you off.
Simone says
Thank you Sara, appreciate the help and advice
Nes says
Hi Simone, please do not be put off my their response. It is typical of them. I had my complaint rejected in 2018 i believe but when i took it up with the FOS the adjudicator ruled in my favour and Likely Loans accepted the decision within a few days.
It’s just a shame as the wait times with the FOS are very long but there is a good chance you could get this complaint held up at the FOS.
Especially if you had other debt making repayments difficult. I don’t think Likely Loans can assume by lending to you your other debts would lower, so maybe the FOS will take a dim view of that point too from them.
Simone says
Thank you Nes, really appreciate you taking the time to reply. Do you mind me asking – when you made your complaint to FOS, what evidence did you send along? I have outline of complaint sent to Likely, bank statements for 3 months before the loan, a screenshot of what my credit score and existing lending was at the time of the loan and their response. Would you suggest anything else? So pleased you had a good result.
Nes says
No worries Simone, in my original complaint to the FOS i sent them the same supporting evidence i sent to likely loans.
Like you this included bank statements and a copy of my credit report. Also when you send it to the FOS send them an attachment showing all correspondence in relation to the complaint with likely loans.
That will be enough, the good thing is when the case gets picked up if they feel they need anything else they will contact you asking for it.
David says
Hi, not sure if anyone has any complaints ongoing against Progressive money but I have now had a final decision. My initial complaint was rejected by Progressive, so I escalated my complaint to the Ombudsman which was around March last year. The adjudicator found in my favour in December, but this was rejected by Progressive. So onto an Ombudsman, this took around 3 month to be assigned but the good news is that the Ombudsman have upheld my complaint with all interest plus the 8% to be reimbursed. Progressive have been given 4 weeks to contact me. Thanks for this site Sara, its been a great help!!!
Sara (Debt Camel) says
That is good news.
Andy says
Hi,
Does anyone know how long for Avant to payout the redress? I’ve won a case with the FOS and the money will help a lot
Holly says
Same as me , I am waiting to hear from them with calculations etc any advise would be great
JC says
Was this resolved quickly in the end!? How long after the calculations from avant did they send the redress payment!?
I’m currently in this scenario
Many thanks
Yvette says
Hi Sara,
Desperately need your help. Varooma have responded to the FOS after the adjudicator upheld my complaint. I have not heard from the FOS despite emails, I understand they are busy. I then asked Varooma to forward me a copy of their response. They rudely replied with they won’t be doing so. I have asked for them to do this as this is personal information and I was under the illusion that they have to under the data protection act and gdpr?
I do not and can not understand why they are being so awkward?
This is causing me so much anxiety and checking my emails every 5 minutes is not healthy.
Please can you advise
Thank you so much for your time.
Yvette
Sara (Debt Camel) says
Have you asked your adjudicator?
Yvette says
Thanks for replying, yes I have sent a couple of emails but had no response sadly. I do understand they are busy and have many cases.
Varooma responded again saying they have returned with a counter offer re loan 2 (top up) and have said they will remove both loans from my credit file. But surely them saying they will remove both loans means partial admittance that they shouldn’t have given the loans in the first instance?
There were no changes in my finances from loan 1 to loan 2 (top up) they failed to look at my bank accounts appropriately.
Thanks for your help
Sara (Debt Camel) says
So Varooma’s counter offer doesn’t sound good, does it. Sounds like this one will need to go to the Ombudsman.
Yvette says
Thank you Sara, yes that is what I thought also.
Do you know how long it takes to refer to ombudsman?
Many thanks
Yvette
Sara (Debt Camel) says
I am afraid it varies a lot – not very helpful
Yvette says
Ok thank you, I am just trying to work out the figures and i’m not having much luck.
Thanks
Tom says
Hi Sara/All,
118118 Money have (as of yesterday) accepted the Adjudicator decision and therefore will be upholding my complaint. They haven’t contacted me directly yet, it was the Adjudicator who let me know.
In this instance, am I within my rights to start chasing them immediately to get the ball rolling on the negative marks being removed? I was thinking I could contact them as I usually would to chase. Or go straight to the CEO?
Thanks,
Tom
Sara (Debt Camel) says
They normally sort things out reasonably quickly. I see no point in hassling them now.
Tom says
Hi Sara,
Thank you, much appreciated!
I will likely have some other scenarios similar to this one in the coming weeks/months, so may be back in touch if that’s the case.
Thanks,
Tom
Yvette says
Hi Sara,
I’ve read somewhere that it can go to 2 adjudicators before ombudsman is that correct? I’m just trying to think of time scales.
Also have you heard of companies coming back with a counter offer before going to ombudsman despite their original offer.
Thanks
Yvette
Sara (Debt Camel) says
2 adjudicators is unusual, usually only if sent to the wrong team at the start or if an adjudicator leaves.
yes some lenders make counter offers, but it’s less common than it used to be.
Yvette says
Thank you Sara. Had a response from adjudicator today as they asked for clarification on some points that was made. Hopefully a response will be made today, but like you say I can see this going onto the ombudsman.
Can’t see any information online re time scales currently so I guess it will be another year to wait.