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?
Johnvan says
Hi Sara
I wonder if you could give me some advice.
On 12th April I submitted an affordability complaint with Everyday Loans in respect of an £8000 Loan in April 2016. I repaid this loan over 24 months at £482 a month. Often with help from Safety Net Credit.
I have requested the SAR. Today I have received a letter acknowledging my complaint but none of the information requested. What would be a reasonable period of time before I contact them again requesting this information?
When I took out this loan I was originally looking for £5000 but when credit checks were carried out my score was very poor and they were aware that I had £3000 balance on payday loans and I was offered £8000 to repay these. As I had a serious gambling problem I didn’t make the repayments and just increased my debt.
Thanks
John
Sara (Debt Camel) says
They have 30 days to reply with the information you have requested – there is no point in contacting them again before that point.
I hope you have also put in an affordability complaint to Safetynet Credit.
MelD says
Hi, just noticed this comment, it took everyday loans 8 weeks to send me my DSAR documents, they said this was due to an administration error. Also they are past their deadline for replying to my complaint and said I would hear by the end of the week about their decision (9weeks today) so far nothing.
Johnvan says
Sara
I am in the process of making complaints with Quick Quid, Sunny, Uncle Buck, Lending Stream and Mr Lender. I had a total of 151 payday loans between March 2013 and May 2016. Unfortunately my biggest lender was Swift Sterling. I borrowed over 10k and repaid close to 25k but these were prior to December 2015 and because they were based in Malta and I have no redress.
Safety Net Credit are on the radar and will be receiving a complaint. It’s surprising that I have had access to a rolling £1000 credit line with them despite them having access to my bank account details. They were fully aware of the amount that was coming out of account to other lenders (often more than my salary) and bookmakers (any cash that was available). This site has been invaluable in your advice has given me strength to face up to an embarrassing problem. Thank you and I realise that this should have been on the other page.
Mr G says
Hi Sara
Just had a final responce from welcome finance saying they are not able to consider a affordability complaint which i made due to the fact that they entered a Scheme of Arrangment on 2nd march 2011 and because i entered into a contract before the said scheme they are unable to consider the complaint due to the restrictions of this legal arrangement.Not quite sure what to do next can you advise please to send to ombudsman or not many thanks.
Sara (Debt Camel) says
You could ask to see a copy of the Scheme of Arrangement BUT
a) they are almost certainly correct. Schemes of Arrangement cap certain liabilities and would have had time limits on making a claim.
and
b) even if there wasn’t a Scheme of Arrangement, the loan is in any event more than 6 years old so it is VERY unlikely that the Ombudsman would look at it,
Mr G says
Thank you for advice
Micheal says
Hi,
I took out a loan with everyday loans in 2016 as I was desperate, I have been making payments since but one of their own staff told me my loan should
Never have been issued as did not pass the affordability check- I put a complaint in and asked how they assessed affordability- they looked at my joint account and wage slip but not my personal account and determined i had £21 left- I have argued that they did not view my bank account and how can £21 be affordable to buy food for the month? They have said my complaint is not upheld so I have gone to the ombudsman- do you think I stand a
Chance of an affordability claim?
Sara (Debt Camel) says
£21 left is obviously unaffordable. They don’t have to look at your bank statements, but they have to do a reasonable estimate of your income, expenditure and disposable income – it sounds as though they didn’t.
This sounds like a good complaint to take to the Financial Ombudsman. If you followed the template letter I suggested in the article above – that starts by asking a lender for a copy of all your personal information including credit checks. You don’t need to do this for payday loans where you borrowed a lot, you would get a mountain of complicated paper. But for large loans when you only borrowed once or twice, this can be very useful in showing the Financial Ombudsman that Everyday Loans could see from what they knew that the loan was unaffordable for you.
If repaying it is still causing you problems and you are having to borrow more to manage this, you should also ask EL for a payment arrangement. The only way to get out of the cycle of borrowing to make other debt payments is to call a halt and not borrow more. Affordability complaints can take many months to go through so you need to get yourself in a safe financial place while they do.
Michael says
Hi,
Thanks- yes as part of my original complaint I asked for all the checks they completed which is how I found they based the loan on me having £21 left a month.
The issues started in August as my payment did not take – I was told I needed to make a payment- I had been looking at taking a top up loan with them to clear my other pay day loans- I was told my credit was 9 with them which was good and if I made my August payment I could get a top up- I felt I was pressured by EL to take another high interest loan to pay that months payment- I was then told I could only get a top up with a guarantor- I don’t have anyone- gutted- I was in a mess with this pay day loan I shouldn’t have taken out- luckily I got a bonus from work so paid it off! Without it I was looking at a DMP!
I complained in November about the pressure- didn’t hear anything and chased in jan- received a fob off response a couple of weeks ago and immediately started ombudsman complaint- EL are sharks- wish I had never taken this loan- got until November left but the interest is crazy- I’ve paid off the principle loan in July 2018 so over a year is interest payments- I am requesting all the interests back- I think this is reasonable
As should never have been given this loan to begin with
Sara (Debt Camel) says
“I was then told I could only get a top up with a guarantor- I don’t have anyone- gutted” you had a very lucky escape there!
No seriously, are you saying that you missed a payment and asked for a top up, but you were told you could only get a top up with a guarantor? That is shocking.
Paul says
Hi Sara,
I had motor finance from start line motor finance back in July 2018 the loan was to buy a second hand car. The car had a number of on going issues which the garage never resolved so I traded the car in earlier this month. When paying the finance off I noticed that on the credit agreement the car dealer had not broken down the cost of the price of the car and the additional warranty which I had taken out at time of purchase. The credit agreement just had the full combined value and no mention of warranty. After buying the car I contacted the garage to cancel the warranty which they refunded me in cash but did not adjust any finance paper work. Would I have a claim to have all interested I paid refunded as they had not listed the goods and services separately?
Sara (Debt Camel) says
It sounds as though you may have been charged interest on the warranty element, which is wrong. Talk to National Debtline on 0808 808 4000 about what you can do.
Steve says
I’ve had loans over the last 5 years with a credit union linked to my employer, when I was struggling with other debts I’d keep borrowing more to get me through things like Christmas and it’s got to the point where despite me having very bad credit they have been willing to lend me thousands. I’ve paid at least £7,000 in interest since I started using them and I still owe them £5,000. I understand that there’s an element of ‘irresponsible borrowing’ which I acknowledge though I feel like there’s also a lot of irresponsible lending done on their part. Are credit unions exempt from this type of complaint?
Sara (Debt Camel) says
No, the affordability rules are the same for them as for other lenders. But if you have other problem debts as well, it might be a good idea to talk to a debt adviser about what your options are. I suggest you phone National Debtline on 0808 808 4000.
mark says
Got my 2 email’s from avant credit today with calculations of my redress -one of the emails is below. Anyone been refunded by avant as my emails say the money will be in my account within 30 days… im grateful for the money but 30 days…. (ive claimed to HMRC online for refund of tax on the 8%)
Dear Mr *************
Loan ID ******
Further to the outcome from your recent complaint I can confirm that AvantCredit have now;
Refunded all interest and fees charged on your loan resulting in an overpayment
Awarded 8% flat rate per annum interest to the overpayment. This has been calculated on a daily basis for each element of the overpayment.
As a result of the above a refund has been processed for £2314.46
This payment should be received in your bank account ending **** within the next 30 days.
This balance is made up from £2005.36 over payment and £309.10 interest payable on the over payment.
The interest awarded was £386.37 but in accordance with the FOS guidance (below), 20% tax on this interest has been deducted at source and will be forwarded to HMRC.
Mark says
That is my email through calculating my refunds from Avant credit..
£3200, complained on 13-4-2019, complaint upheld, payment calculated on 29-4-2019
I’ve applied online to HMRC to get a refund on the tax on the interest payments.
Now just have to wait for the money to hit my bank account
very happy and all down to this site
many thanks
Dr Dre says
Hi
It should be in your account with in 2-3 days. I went through the same process a couple of weeks ago.
Ally says
My monies in mark.. so a week it’s taken from calculation and funds into bank.. that’s including a bank holiday weekend.
mark says
My £3200 arrived this afternoon in my account..
cant really complain, all done within 3 weeks of my initial complaint.
Ross says
Morning Sara,
Just after a spot of advice please. I, currently, have a loan with Avant Credit. This was for £3000. I have checked my Noddle report and, at the time (and prior to this) I can see a lot of payday loans taken out, and settled, along with juggling many credit cards and a gambling addiction. At the moment, I have nearly repaid all of the capital. I believe there’s about £130 of capital, left to pay. If I submit a complaint, asking for the interest to be removed as an acceptable outcome, what would you think? I know you can’t look in to crystal ball, but I strongly believe that this loan should never have been issued?
Sara (Debt Camel) says
A lot of people are having cases settled quickly with Avant at the moment. They should have seen all the payday loans… This is well worth a try, but my crystal ball is in bad need of a service and cannot be relied on.
MelD says
Hi Sara,
Already commented before, had loan with everyday loans and had no response after 8 weeks, 5 days over the 8 week deadline I received a letter to say they are unable to uphold my complaint. Borrowed £2,2266 in 2014 over 24 months, total repayable £5,800. But the month after borrowing I already came into financial difficulty as I was 8months pregnant at the time of loan and quickly went onto maternity pay, and was struggling to pay the £241 a month loan. however this wasn’t taking into account in my expenditure form. I have been paying the loan for 5years at £100 a month, with crazy interest. They have said looking back at my financial circumstances I had a disposable amount per month and only came into difficulty after I received the loan, so won’t uphold my complaint but as a good will gesture will close my account with the balance of £834 remaining. This is nothing however compared to how much I have paid on this loan over 5 years. Any suggestions? Do you think I have a chance with the financial ombudsman?
cheryl says
Just thinking out loud here for you. Is it possible that maternity wasnt the only reason you couldn’t afford it? you took the loan when you were 8 or 7 months pregnant? how was your finances? any late payments or credit issues at this time. i think your case would be stronger if you can show that even before borrowing the money, there were signs of financial stress in your bank account or credit report that the lender should have seen.
Scott says
Hi MelD,
What were your finances like before you took out the loan? Did you have lots of other borrowing?
What were your monthly income and expenditure figures?
Scott
Sara (Debt Camel) says
Were EL aware you were 8 months pregnant when you applied? If they were then this loan was unaffordable and you should complaint to the Ombudsman asap and ask for a refund of all the interest you have paid, saying EL ignore the fact you were pregant and so it was likely you would be unable to afford the repayments for the duration of the loan.
But if they didn’t know you were pregnant, then they probably had no means of telling this loan would be unaffordable if you weren’t already in fiancial difficulty. So you won’t win an affordabilty complaint.
If you have paid £100 a month for 5 years, that is about £6200. That is more than the £5800 you agreed when you took the loan, so you have had more interest or charges added. You could complain to the ombudsman that this was unreasonable as they were aware your were in financial difficulty. Having said that, their offer to wipe the remaining balance is not bad. You may not get much more even if you win your case at the ombudsman.
MelD says
So at the time of loan application I had previously cleared a large balance with a debt consolidation company a few months before. Had many payday/guarantor loans previously that I could not afford to pay so consolidated all my loans into one and paid it off as I had came into money from a family member. But for years had problems with debt and has a really bad credit score at the time of taking the loan.
I applied for the loan in store so it was obvious to the eye I was pregnant however it wasn’t mentioned in my expenditure form as I was desperate for the loan, and no one asked me about my pregnancy. Sorry Sara numbers don’t add up as some months I would pay £90 at the time that’s what was agreed in 2014 shorty after coming into difficulty paying it.
Also a few months ago I called into office to clear the balance of the loan and was told it wouldn’t make a difference to the balance, I thought paying it off earlier would at least take away some interest but was told it didn’t make a difference and my final balance due was the same amount paying early or paying it up each month?
Sara (Debt Camel) says
I had forgotten that most EL loans are given in store. Yes they should have noticed you were 8 months pregnant!
I suggest you send the complaint to the Financial Ombudsman straight away as this is a very good basis for an affordability complaint. Point out that CONC 5 says a lender should take account of your ability to repay over the lifetime of the agreement, and that it was obvious you were 8 months pregnant so they should have considered that your income may decrease and your expenses may have been about to increase.
You should also make the point that you were told that repaying the balance early wouldn’t make any difference and you are not sure this was correct.
MelD says
Great thanks for all the advice. I have sent my complaint over to the financial ombudsman will let you know how it goes.
MelD says
Morning Sara,
Ok so this morning EL took out my £100 payment after saying I’m writing last week they were closing my accounts my as a good will gesture, do you think I can claim this £100 back? I’m confused. Thanks Mel
Sara (Debt Camel) says
definitely! In fact I would ask them to refund this immediately, it’s a shame you didn’t cancel the CPA to them at your bank. Have you sent the case to FOS?
MelD says
Yeh I emailed EL today and they have said they will look into it for me and put a refund through if what I say is correct. Fingers crossed. And yes I have contacted the ombudsman giving them my complaint and waiting on a reply from them.
Thanks
Marianne says
Hi Sara,
118118 have come back to me today with their email stating it is their final response and they take no responsibility for irresponsible lending;
‘With the above in mind I am satisfied that we acted correctly in approving your loan application and as such I will not be upholding your complaint. For the avoidance of doubt, this means you remain fully liable for the loan, interest and repayments. ‘
Should I now take up with the financial ombudsman? 118118 email to me seemed very abrupt and to the point in it’s language and isn’t filling me with any confidence that a claim would be considered.
Thanks,
Marianne
Sara (Debt Camel) says
“isn’t filling me with any confidence that a claim would be considered” well that’s what they want you to think, isn’t it…
Did you find the income & expenditure assessment in that pile of SAR paper they sent? Do you think that was an accurate summary of your situation – was anything obvious missing or clearly too low? If you aren’t sure, send the case to the Ombudsman and ask them to look at it.
If you are struggling with the repayments, you can ask for a payment arrangement now, even if you don’t take the complaint further.
Rob C says
Hi Sara,
I got a car finance loan from Moneybarn last year, I couldn’t afford payments when got it, but was desperate for a car and very surprised they offered me loan. I have now fell into arrears. Has anyone had any experience in dealing with Moneybarn for affordability complaint. Also I got put through to Moneybarn by CarFinance247, who would have done credit checks.
Thanks in advance
Danny says
Hi Sarah,
Your website is a great resource and incredibly useful.
I am submitting a complaint to the ombudsman for 2 large loans from avant, I have my bank statements and the reply from the lender. I’m a bit unclear what I should be providing from my noddle account though, do i just use this to show what other loans I had at the time of the application?
Kind regards,
Dan
Sara (Debt Camel) says
yes, that’s what it’s for. But just download the whole report and send that.
Dan says
Hi Sara
Received my SAR from Bamboo today iro 1 loan last year which I’m repaying through Dmp.
A few interesting things noticed. Initially applied to Zopa, was rejected and I recall Zopa directing me to Bamboo and forwarded my details on. Zopa are named as the broker in SAR.
All Bamboo have re income and expenditure is 2500 net income and 200 rent. They hold no details of any other expenses nor do I recall them asking me.
The 2500 income figure should actually be the gross figure, ie 1800 net.
The credit report they obtained showed 11 accounts opened in previous 6 months and other things such as 98% balance to limit ratio for revolving credit.
I feel these are the types of things to mention in my response?
Loan was 1500 which they added almost 1k interest at start.
Sara (Debt Camel) says
Yes those are the sort of things to mention. A loan of £1500 is not small – Bamboo should have made careful checks you could afford it.
Jacquih14 says
My son has a loan with Avant now. It’s not been going that long, under a year. He took it out to try to pay some debt but the repayments are so high and he’s hardly even put a dent in the actual balance as most seems to be going to interest. Is there anything at all he can do to try get help or since it was quite recent does he just have to keep going as he is? Thank you.
Sara (Debt Camel) says
If he is struggling to make the repayments, perhaps having to take out more debt to stay afloat, then he should put in an affordability complaint as the article above suggests.
John says
Can i ask what is the situation with interest on these types of loans.
I recently ran into a bit of trouble financially, and had to avail of Loans2Go for the past few months.
I had paid of the balance towards the end of the end of the month, sometimes rolling over into the following month. But reapplying again.
But fortunately this month I was in a better position so i was able to pay off the newest loan within 21 days of it being taken.
But the figure they quoted me to pay of the outstanding loan was at 600% interest with a APR of 6000% for 21days.
I argued with them that on their website and on the contract its states that it was an interest rate of 209% and a APR of 1029%.
So why could they charge £112 for £300 for 21days, even when it states the daily interest which would be compounded. Before i never noticed had taken into consideration the actual cost only until now.
They sent me out a statement of break down. Settlement date Current Balance £1234.26 Less Rateable Allowance £822.18 Amount to be paid £412.08
Sara (Debt Camel) says
“But the figure they quoted me to pay of the outstanding loan was at 600% interest with a APR of 6000% for 21days.”
was this in writing? Does it give those 600 & 6000 figures or have you worked those out from some numbers?
John says
The contract states
Interest is charged at a simple fixed interest rate of 207.6 % per annum on the
amount of credit for the term and is applied to the account, in full at the
commencement of the agreement.
Annual Percentage Rate of Charge (APR). This is the total 1,013.3 %
cost expressed as an annual percentage of the total amount
of credit.
The APR is there to help you compare different offers.
The figure they had asked me to pay was £412.08 for £300 for 21 days so when i work that out it comes in at 600% Interest with a APR of 6000%, i worked it out.
The only thing that It could be is that when you work it to their settlement date of the 23/05/2018 it does come in at what they sort of advertise. But mo where on the contract does it state you have to give 30 days notice that you are looking to withdraw from the contract nor does it explain on their website that this is the case. It states The interest we charge is directly related to the length of time you have your loan it states on their website.
Sara (Debt Camel) says
look at the contact – are there any provisions relating to early settlement? typically firms are allowed to charge another few weeks interest…
john says
In other information in the the very small print towards the end it states:-
To repay part of the credit early you must pay some amount to us which is not yet due under the
agreement within 28 days of your notice of intention to make early repayment. We shall reduce the amount payable by you as prescribed by
law and by reducing the amount of each repayment still to be repaid. We will not seek to recover compensation under s95A of Consumer
Credit Act 1974 should you make early repayment(s).
Sara (Debt Camel) says
So it sounds as though they are charging you an extra 28 days interest to settle early. You can ask them for a detailed explanation of how the settlement amount was calculated.
KR says
Has anyone had any joy with logbook loans? My husband had 3 with Varooma over a 4 year period, various missed payments through all of them but once paid off was allowed to take another until family had to pay the final one off.
Sara (Debt Camel) says
Yes a few cases – not many, these are simply much rarer than payday loans. An affordability complaint is definitely worth trying , especially with having had 3 loans. Expect the lender to reject and for this to have to go to the Financial Ombudsman – it doesn’t mean you have a weak case.
John says
I had a large £1500 loan with My Jar in May 2018
At that time I also had £2,000 in pay day loans with 2 creditors. Both my credit cards were over the limit and I had a £15,000 bank loan (from when my credit was good).
I sent a complaint to My jar which was rejected. I had income of £2400 which they verified, however, they listed my expenses as £1,520, leaving me £880 a month – of which 37% of that – £325 was the monthly payment. Obviously my expenses of £1,520 does not include the two large pay day lenders, I was actually paying out more than I was taking in every month – a cycle I didn’t break out of for a full year.
MyJar has been repaid but I want to know if you think I’m likely to be successful as I only had 2 pay day loans at the time of the loan? Specifically I had £1.1K of Pay Day loan payments which would be made in the 1st month of this My Jar Loan – so I’d be in a deficit of about £300, with £325 to pay. Never missed a payment as I cycled through loads of pay day loans to facilitate.
Just thought I’d ask your thoughts Sara?
Sara (Debt Camel) says
Were you asked what the loan was for?
John says
I don’t remember and having looked at my resolver response from MyJar – it doesn’t state. I could have provided my bank statements but would rather have FOS look at it I think – I just don’t want to waste FOS time by having them look at a case I cannot win!
I’d wager that if asked – I’d have stated it was for debt consolidation – I’d say 99% chance.
What are your thoughts?
Sara (Debt Camel) says
Ah I thought you had used the template letter on this page, so you would already have sent Myjar a request for a copy of all your personal information. I suggest you do this now, as well as sending the complaint to FOS.
It was a large loan so Myjar should have checked carefully. But If you had said you were going to use it to consolidate the two outstanding payments loans, then you wouldn’t have had to make the monthly payments to them, would you?
John says
I did use the template here and they have sent me info – but not what specific reason I gave for the loan.
The money was not used for the intended purposes as I had borrowed money from a friend I had to pay back – hence the pay day loans remained. I had 2 big ones as well as 2 maxed credit cards.
MyJar have basically turned around and said they checked my file etc and all was good but I can’t see how that would be right.
I think it’s a decent case but I don’t want to clog up the FOS with a complaint that can’t/won’t win!
Sara (Debt Camel) says
They should have sent details of your application – if there is nothing there then you may not have been asked what the loan was for. I think it is worth sending to FOS, one loan cases aren’t easy but this is worth a go!
John says
If I go back and ask them to clarify what I listed the loans use for – I’ll be able to provide an answer there.
Out of interest though – why does that matter? Does my reasoning affect its chances of being successful?
Paul says
Hi,
Can you help please.
I asked Avant credit to refund my interest and received an email today. They said I put down on the application that I earned £3541 net pay per month and they confirmed it using Call credit Tac report, i earn less than that. They also said they checked my debt obligations. At the time I had credit cards and payday loans. They have refused my claim.
What should I do now.
Please advise me on this.
Thanks
Paul
Sara (Debt Camel) says
Hi Paul, any idea where they would’ve got that income figure from? Could that be in your gross pay not your net pay how far out is it? Do you remember what you would’ve put on the application? Have you followed the template letters in the post above, they ask for a copy of your personal information. If you have that, Does it include a copy of your application?
Paul says
Hi,
Thanks for the reply, the figure is about £1200 out, I asked for the details but nothing yet.
I replied stating the figure was way out, requested my details again and if no response within 1 week I would go to the Ombudsman.
Sara (Debt Camel) says
ok that sounds like a good plan.
Paul says
Hi,
I received my DSAR from Avant credit and there is no mention of me earning £3500 after tax per month and no copies of evidence supporting this. Is it time to go to the Ombudsman.
Thanks
Paul
Sara (Debt Camel) says
Yes. Include in your complaint that you do not beleive you ever told them you earned that much, you have sent them a Subject Access request and what you have been sent doesn’t contain this figure.
Lou7 says
hi all,
Just a quick question. Is it 4 weeks for the company to sort out the refund and pay it out? The adjudicator said 4 weeks from the date of the letter but the date is up today and I haven’t heard anything. When I sent an email Avant sent one back saying it would be sorted within the week but haven’t heard anything else.
Sara (Debt Camel) says
Go back to your adjudicator and say you haven’t been paid and go back to Avant as well.
Emily says
Hello,
I have submitted an affordability complaint to On Stride Financial today and received a standard response directly into my Junk Mail folder. It concerns me as they have asked for a copy of my credit report (which they should already have a copy of surely?) to help investigate and the email address is very unusual? It’s owner_quickquid@bounces.quickquid.co.uk
I’m pretty sure this is a scam that has somehow intercepted my previous email to them and responded looking for financial details, but I could be wrong. Has anyone else had this before?
Thanks
Emily
Sara (Debt Camel) says
If you Followed the template latter in the article above, you will have asked for a copy of your personal infomration. That should show you what credit checks they have done.
They can do a credit check now on you if they want – I have no idea why they want t=you to send them your report – they could simply be trying to make this all sound difficult. You could phone them up if you are concerned it’s a scam and tell them to access the data themselves.
Ross says
Just had a response, from Avant Credit, and like others, they have claimed that I have given a salary figure much higher than I actually earned, when applying, and that they cross checked this with a Call Credit Tac Report. They say I stated I earned £3150, monthly, when the figure was actually only £2500. They also state that they checked my other commitments, but should’ve seen other payday loans, credit cards and other loans on my report, as well as a large overdraft. It doesn’t actually indicate, anywhere, that this is a final response. I would assume that it is though.
Lou7 says
A quick question and advice please as I am worried. The ombudsman agreed with the adjudicator about avant and irresponsible lending. I sent my acceptance back and the higher management of avant are looking at my complaint. What else can they do about it? I thought the ombudsman decision was final?
Scott says
The Ombudsman ruling will be legally binding and the Company will need to pay up.
Scott
Lou7 says
Thanks Scott for that valuable info. They are being very awkward about it all though. It’s been 4 weeks now so I will contact my adjudicator via email.
Scott says
No probs Lou7.
Going back to your Adjudicator will probably be the best bet for you.
I would say leave a bad review on Trustpilot but their score is already bad.
There is a review on the 2nd May about a refund, says something about receiving an email and 30 days for payment.
Call Adjudicator tomorrow and ask him to contact Avant about an urgent payment as they are over the 28 days.
Hopefully you get it sorted this week.
Scott
Lou7 says
Hi all,
A breakdown of the refund was finally sent tonight after my adjudicator contacted them. I have now got to wait up to 30 days for it to go into my bank account. I thought they had 4 weeks to sort it all out and issue a refund!!
mark says
Recieved a cheque in the post today from HMRC for 130 pounds, that being the refund of the tax paid on the 8% statutory interest.
5 weeks all in from putting in my complaint to Avant Credit to getting back £3400
many thanks to the site.
KR says
So my husband has put in a complaint to Varooma for 3 loans that are all paid off and they have not even knowledged the email feels like it’s going to be a longtime before this can be cascaded to the ombudsman and I know they will put up a fight.
Payday UK have also refused so this has gone to the ombudsman to investigate as it was over 6 years ago
sarah says
I have just started a complaint for unaffordable loans from Welcome Finance – not sure how i will get on as they are old (even though i am still paying it off) plus it has been sold to Prime Credit. I actually didnt realise that it was a secured loan until now so that will be interesting when i come to remortgage! I am assuming i need to direct my complaint with Welcome and not Prime Credit, i have no idea… but they are the ones that bullied me into taking out another loan to clear my old one even though i was very young and swamped in debt. I wont hold my breath on this one as i know welcome are notoriously awkward but its certainly worth a try because the interest is enormous and like i said i am still paying it off.
RobC says
Hi Sara, I have our in a complaint to Moneybarn for irresponsible lending due to affordability. On 1st May. Today I received my SAR with all personal data. In there there is no application form with income and expenditure and no credit report. I have sent away step 2 letter now saying about situation I was in when loan was offered. As I went through a broker service (CarFinance247) who then put me through too Moneybarn, should Moneybarn have credit search and income and expenditure information? Thanks Rob
RobC says
Another point to add about my complaint against Moneybarn in comments above, is when I’ve gone through SAR info I was sent I found 2 pages of someone else’s info, with personal info and agreement number and transcript of conversation about there money issues, what should I do? Contact Moneybarn and explain this is unacceptable? I know I wouldn’t be happy if my info was sent to someone else. Rob
Sara (Debt Camel) says
You can point out the data breach and ask for compensation eg £100.
siany says
Has anyone had any dealings with OnStride they sent a generic response the same as what i received from Quick Quid. I have escalated my complaint with QQ and P2P with the ombudsman, however this is a separate matter.
I want to know if anyone has received any correspondence or made a complaint as I’m sure they will reject as i have a complaint with the other 2!
Thanks
Sian
Lou7 says
Hi Sian,
I have made complaints with onstride , quick quid and P2P. The last two were resolved via an adjudicator but onstride were quick to send a rejection letter. Also, I didn’t agree with the adjudicator either when I sent it in May 2018 so the ombudsman has got to have the finally say but I am still waiting. Apparently it’s in a queue.
siany says
Thank you I will await there response and refer if necessary
John says
Hi Sara
I’ve finally got my SAR from MyJar…. I borrowed £1,500 whilst having 2 large pay day loans on my account. What they have sent me doesn’t seem to show they did any due diligence. It says it conducted a credit check but actually what they sent me was a document which states ‘call credit – 8th May 2018’ – that’s literally it. My application doesn’t state what I wanted the loan for – just the amounts I put in for expenses.
Is there anything else I need to look out for specifically? Likewise, how can they turn around and claim it was affordable with the weight of so much evidence to the contrary – it doesn’t look like they performed any checks at all….
Sara (Debt Camel) says
go back to them and say you would like to see the details of what the callcredit check showed.
John says
Hi Sara
Got a wordy reply this morning but contained this sentence. ‘however, we are unable to provide the details of the credit report as this does not constitute part of your personal data’ – so they are refusing to give me the details of my own credit report.
Sara (Debt Camel) says
That isn’t right. I suggest you reply to Myjar saying that under GDPR they are the data controller for this data and so they have to supply you with a complete copy of all your personal information. Say you will be reporting them to the ICO if they do not comply and asking for additional compensation if your case has to go to the Financial Ombudsman.
John says
Hi Sara I got sent this now;
The internal criteria we use to determine eligibility, credit worthiness and available borrowing options is also not considered part of your personal data and is not subject to the General Data Protection Regulations data request as this is an internal calculation performed by our service and is protected as intellectual property.
Thoughts?
Toni says
Hi trying to complain about onstride the interest is way to high can’t afford it I’ve sent the 1st template you have on here to them is that right ?
I don’t even work so don’t no how they thought I could repay this
Sara (Debt Camel) says
Yes sending that email starts your affordability complaint.
It sounds as though you still owe a balance – if that’s right, it’s good to say you would like an affordable repayment arrangement, some amount you can afford without having to borrow again. This doesharm your complaint. If your complaint is upheld, you will gain from having made some more payments, and if you aren’t successful you will be in a better place than before you started the complaint as you will have paid some more off and should be able to continue with the payment arrangement.
Toni says
Hi yes I have allot left and yes I’ve askrd for a affordable repayment schedule.
Sara (Debt Camel) says
good luck!
By the way you are the person who knows what is “affordable” – don’t be pushed by the lender to repay more than you can.
Toni says
I just think there gonna say no ? Do I stop my direct debit now ? At the higher price ? Till it’s solved and what do I do next if they say no ?
Toni says
I’ve tried cancel direct debit but my bank wouldn’t let me ? Says to call up , and they never replied to any emails either
Sara (Debt Camel) says
Then you need to talk to your bank. They have to let you cancel a DD or a CPA.
Toni says
Ok if they do cancel it tho won’t onstride just take me to court
Sara (Debt Camel) says
They can’t do that if you have a complaint outstanding about affordability. With on stride themself or with the Financial Ombudsman. This isn’t something to worry about at the moment. You can offer what is an affordable monthly payment – I know this feels scary but this is normal and lenders are used to this, it happens every day.
Sara (Debt Camel) says
Can I suggest you talk to StepChange about this loan and about your whole financial situation? For people that are nervous abou dealing with creditors, a debt management plan with StepChange can be great, as they do all the talking to your creditors about payments and ask for interest to be frozen and you just pay SC one amount per month. See https://www.stepchange.org/how-we-help/debt-management-plan.aspx.
You can still carry on with an affordability complaint in a DMP. And if you win that can really speed up the DMP! The DMP can just make your life less stressful while the complaint is going through which can take many months if it has to go to an ombudsman, which often happens.
Toni says
Hi they have recently emailed me saying there in process of looking at my complaint they have asked for bank statements and my credit record to help them assist ? Do I have to send any of this ?
I’ve also stopped dd to them and emailed them telling them why , there now asking for new payment method since I’ve stopped this ?
Any help I’d appreciate
Sara (Debt Camel) says
Hi Toni,
no you don’t have to send them anything, but if you do it may mean they are more likey to make you an offer.
Stopping the DD was a good idea. You have offered them an affordable amount. i suggest you reply asking if they accept that offer, in which case you are happy to set up a standing order for that amount.
Onstride are NOT going to take you to court. Not when you have a complaint in progress. This isn’t going to happen. And if they sell the debt to a debt collector, most debt collectors are nicer to deal with than most payday lenders. And the debt collector won’t take you to court when you have a complaint open with Onstride or if you send it to the Ombudsman.
Phone StepChange up tomorrow and talk to them. They will suggest what amount you can afford to this. They are really nice to talk to, most people find it a big relief.
Brendan says
Has anyone had any dealings with carcashpoint as have a current log book loan with them for £500 ongoing. Have already had success with various other payday loans and another large loan with loans 2 go. But can expect car cash point being difficult. Any advice greatly appreciated
Sara (Debt Camel) says
Expect your case to have to go to the ombudsman.
Brendan says
Was fearing that but was hoping to settle it early (with projected payday wins) to avoid fees, but would that go against me when came to the ombudsman?
Sara (Debt Camel) says
Who knows how long it will take to get any payday wins – this can take longer than you think.
You don’t have to pay any fees to take a case to FOS. If you are having difficulty repaying the logbook loan, I suggest you complain now. If you aren’t having difficulty – well you may not win an affordability case.
Brendan says
To settle the log book loan early would it go against me in an affordability case. I was in deep pay day loan cycle when I took out log book loan and had a lot of gambling activity on bank statements which they all had clearly. Thankfully now I’m very much on top of it all after various payday loans clearing balances and few interest returns. Thanks for your help as u have turned my finances around with this brilliant website.
Sara (Debt Camel) says
No it won’t. You can show your situation has only improved because of the refunds you have received – not because actually you could afford the logbook loan when it was taken out.
Emma says
Another result from 118118! Upheld my complaint for two loans and settled my £2.5k outstanding balance! So happy and the relief of not trying to find the monthly payments.
I’ll never be able to thank this page enough! 3 complaints settled out of 4!
Bill says
That’s brill Emma, don’t mind me asking could you digress bit more info please on how it came about as am in similar situation with 118,
Thanks, bill
Emma says
Of course Bill. I argued that I told them I would pay off the payday loans with the first loan and by the fourth top up they should of realised that I was deeper in debt. They upheld loan 3 and 4. I also told them I had underestimated my outgoing. Also when I received my SAR they have put on it that if I applied again for them they should do a full credit check so this backed up my claim that they didn’t do this to begin with. Good luck, it’s a lot of worth but it will pay off.
Bill says
Hi Emma,
Mines bit different, I had 3 months to pay the first loan off, applied for second loan to consildate it, although the intrest was extortionate on the second loan I struggled to pay it off, hence the affordability complaint, once again well done on your success
Bill
Rebecca says
I put a complaint in against Avant Credit in May 2018 – the FOS came back last night with a judgement in my favour. The original loan was for £6k, and I paid almost £10k back. The adjudicator has asked them to refund all interest and charges paid plus 8% interest. I am overjoyed as this was the one I thought would be rejected!
Sara (Debt Camel) says
good news – I hope Avant accept the adjudicator decision.
Rebecca says
Ha ha ha – they did not accept the adjudicator’s decision, so it’s now being sent to an Ombudsman. I will keep you posted!
Rebecca says
Hi Sara – I arrived home on Friday to a letter from the Ombudsman stating that they are upholding my complaint against Avant – am so relieved! I have signed the final decision reply form and emailed it back to them today. Thank you for all that you do with this website – it’s been a life saver!
Kathy says
Today I submitted an affordability complaint to Bamboo. It was only one loan but it was for a large amount (£3,500) and this was on top of having taken out a £2k loan from 118 118 two months prior + already having three outstanding payday loans + four maxed out credit cards.
I took the loan out as I stupidly thought I would be able to use it to clear all my other debts but it actually just got me in more of a pickle and I’m now at the stage where my outgoings exceed my incomings.
As it’s only one loan, I’m not holding out massive hope of a refund but I’ve got nothing to lose by trying.
I’ll keep you updated on how I get on.
Anon says
Bamboo sold my debt onto lantern UK. I am currently on a DMP. After I submitted my complaint I got a response stating they would not refund me any interest, however they detailed they were prepared to clear the debt. By this point I had repaid the loan amount and there was only interest outstanding. I feel this was a success for me. Good luck!
KK says
Is it acceptable for me to ask that no payments are taken relating to my loans/payday loans, while my compliant is outstanding?
Thanks
Sara (Debt Camel) says
Well you can try, but it’s normally better to agree an affordable repayment.
Tracy says
Hi Sara I submitted an unaffordable payday loan complaint against Myjar. They didn’t agree, an adjudicator at the FO, upheld my complaint as only one payday loan but for 2.5K when I already had 20K plus unsecured loans. It went to an ombudsman who did not agree Myjar had to repay the interest although they agreed they did not do sufficient affordability checks??? I challenged this but the ombudsman wouldn’t budge. Saying I did have disposable income left, as I was permanently 5K overdrawn I pointed out I had zero disposable income each month. Can I submit a new claim due to the size of the loan or would the ombudsman consider I had one shot at claiming? Have you any idea? Thanks
Sara (Debt Camel) says
Sorry you have lost this complaint, but no, you can’t put in another affordability complaint.
Just being in your overdraft by itself isn’t normally taken as showing a loan is unaffordable.
Do you still have a huge amount of debt and a large overdraft? Have you had other payday loans? Are you buying or renting?
Tracy sibley says
Hi Sarah, I owed 20k in numerous payday loans and including maxed out credit cards and a 5k overdraft. The adjudicator said even though it was one loan with my jar, due to the size of the loan 2.5k, they had not done sufficient affordability checks. The final decision from the ombudsman was agreeing with the adjudicator that Myjar could of made more appropriate checks, but that she was not upholding the complaint. I hoped that maybe complaining about it being a large loan rather than a payday loan may be different. I sold my house to clear the debts, I’m not completely clear but almost. Only issue now is I can’t get a mortgage so have gone from paying £400 mortgage to £1100 rent. Now I’m trapped into that. Thanks Sara your website is such a brilliant source of information
Adam says
Hi.
I took out a logbook loan with car cash point for £500 approx 2 years ago now maybe a little longer.
Citizens advice have sent a Sars request to them for me and been told I need to contact them to authorise (although I have signed authorisation form with cab) so I emailed back authorising them to send the Sars info.
September 2018 my settlement figure was just over £300. I have since then been on long term sick due to mental health issues.
I explained this to them and explained I couldn’t afford the weekly payments and could they reduce them. Straight away they refused to reduce them so I stopped paying.
I resumed payments to them at an increased rate about a month ago after advice from cab.
My settlement figure is now just over £1k they have charged to collect car (about £400 charge). yet as far as I’m aware nobody has been out to collect car.
They have done absolutely nothing to help. they have contributed directly to my further worsening of my mental health also.
Once I get the Sars info can I make an affordability complaint? As at that time I had a few defaulted pay day loans, items with perfect home, defaulted with door to door collectors, council tax arrears along with others.
The guy told me what figures we should put on the form for I and e.
Your help would be much appreciated.
Sara (Debt Camel) says
Can you manage without this car? Because if they are going to take it back, I am not sure why Citizens Advice said to increase your payments?
You can put in an affordabilty complaint now, you don’t have to wait for the SAR details. The SAR details are mainly useful in helping with your complaint at the Ombudsman stage, you have to expect car cash point are going to reject your complaint, so just send it in and sit back and wait for the rejection.
Adam says
Unfortunately i can’t really as without the car it’s really difficult to get to see my kids or collect them for the weekend.
Citizens advice are helping me with other debts but the car cash point one we agreed if I can scrimp to pay it for now while we wait for the Sars info and see if everything has been done right.
Also I had to have another engine fitted to the car last summer but as I know the mechanic he’s let me pay as and when I start back at work.
So I’ve been arguing that if they wanted the car the engine would need removing first.
If I took the affordability request to the ombudsman once car cash point reject it what chance do you think I have realistically from the info I have given of getting anywhere?
Sara (Debt Camel) says
I can’t really guess – these cases are all very individual. But it’s free to go to the Ombudsman so you have nothing to loose! people have won logbook loan cases.
Adam says
Hi sara
Just to update I received my Sars info from car cash point and the initial loan was £560 minus £60 arrangement fee.
I said I had no ccj’s against me, yet on my credit record at the time there is 2 of them that are not being repaid. Surely they should have checked this?
Also on there forms I’m down as having no loans or credit cards etc. Yet they can see from my credit report there was several defaults.
For some reason I can’t see my payday loans on credit record then but I know I had 2 at the time.
My bank statements show my wages going in weekly at the time and as soon as the wages went in I transferred the money to a savings account (this was to stop payday loans getting money on a continuous payment authority)
The didn’t question why my current account only really showed my mobile and land-line phone bills going out and not much else.
They even paid the loan into my savings account not my current account.
Do you think its worth me putting in an affordability complaint?
Sara (Debt Camel) says
This sounds like a good affordability complaint!
“For some reason I can’t see my payday loans on credit record then but I know I had 2 at the time.” this is on the credit report in the SAR? does it say what credit reference agency they were checking? what date was this loan?
“didn’t question why my current account only really showed my mobile and land-line phone bills going out and not much else” did they ask to see your bank statements?
Adam says
No this is when I have checked my credit record myself.
The information I got through the Sar request doesn’t have any credit report info at all.
I took the loan out on 15/08/2017
Yes the man that came out did ask to see my bank statement which I showed him on my phone and I think I sent screen shots but there isn’t any of this in the info from my Sar request.
With the Sar request should they have sent me ALL info they have That relates to me?
KK says
Good morning,
I’m hoping you can give me some advice regarding 118118. I have a loan with them and in December I missed a payment. I contacted them in advance and explained the situation (I had lost my mother and had unpaid leave from work). I asked if I could add one payment to the end of the loan and they said no. I asked if I could increase my payments by £20 each month and they did not respond. I sent them 2 expenditure forms which they seem to have ignored but this situation has not been resolved and I am being hounded by them. The first thing I see in the morning is a text message from them saying I’m overdue. I receive a further 2 texts a day plus 1-2 emails and I am now receiving letters every other day saying that despite them contacting me I have not responded.
I have already put in a complaint of affordability with them which they have another 7 weeks to respond. How do I make them stop hounding me. It’s just too much.
Sara (Debt Camel) says
Good grief. That is unacceptable.
Is it just one payment you have missed? Or have you stopped when you sent them the affordability complaint? I’m just thinking how you can respond to them to get them to stop…
KK says
It is just one payment. All subsequent payments have been made.
Liam says
I had this for months, standard messages at 8am and around 5pm plus a few emails, daily! Then out of the blue they messaged me at Xmas and offered to clear my arrears of £760 if I paid £236, I ignored, then it went to £100 and I ignored and then it went to £50. As it was New Year’s Day I rang to make the payment of £50 but they didn’t answer, missed out on the deal. They refused when I eventually got through to them to accept £50 and was forced into a repayment plan (this stopped the messages and emails) said I could afford £14 a month extra. Put in a complaint about not being able to accept the other, flat out rejected, sent proof I’d rang them and they cleared all debt.
My experience with them is, you will get those messages daily for around 3-4 months, they will then send you a message to say your debts sold, I would advise to ring them and offer a token gesture to put it to bed.
I also have an affordability complaint outstanding so we shall see!
KK says
I emailed them this morning to ask them to stop. The letters they sent were incorrect as they said that they had been trying to contact me but i was not responding. This was absolutely not the case as it was me who initially contacted them regarding the missed payment.
I have asked them to disclose what checks were done at the time of me applying for the loan. Can they deny me access to that information? And how long is a reasonable amount of time for them to do this?
KK says
Update:
I have not had a response from my email to 118 but this morning i did not open my eyes to a text message from them and I don’t have any emails either.
Lets hope it stays that way!
Bob says
Hi, I first complained to Avant credit about affordability in Dec 17. Then I then took it the FOS and it was picked up by an adjudicator in July 18. After the investigation the adjudicator told AvantCredit to refund all interest but this was rejected and passed to a ombudsman in Oct 18. Then this was picked up by an ombudsman April 19. I phoned yesterday for a update to be told it’s now been passed to another ombudsman so it’s back in the queue to be picked up? Is this normal for this to happen with this timescale?
Sara (Debt Camel) says
“it’s now been passed to another ombudsman so it’s back in the queue to be picked up?” that doesn’t really make sense – if it has been passed to another ombudsman (which happens, they change jobs, get sick etc) then it isn’t back in the queue waiting to be picked up.
Bob says
Ok thank you, hopefully not long now
Brian says
Hi, I complained to Avant at the end of April who pretty much immediately agreed to refund all interest plus 8% etc.
The problem I have is with their calculations though, there was still a balance on the loan when i complained, I had paid interest of £9k up to the point of the complaint so (seeing as their email stated they would refund all interest) i assumed they would work out the redress and then deduct any balance of the loan leftover after that. But they have taken off the balance before working out the interest I am owed. This has deducted over £1,000 from the refund.
I have sent them my calculations for what the refund should have been but if they disagree could this be sent as a complaint to the FOS?
Sara (Debt Camel) says
yes it can. You don’t need to start a new complaint, you have a final offer to your current complaint so that is what you take to FOS saying that the final offer sounded fine but their calculations are wrong.
Brian says
Thanks very much, will fire off an email to them informing them they can either send me the rest of the refund due or Ill be taking it up with the FOS.
Thanks for the quick reply
Brian says
Bit of an update on this.
They worked out the 8% interest on each individual payment which is why it was over £1000 less than I worked out using an online calculator. Disappointing but not sure theres anything I can do about this now?
Another problem has now arisen, on the spreadsheet of calculations there are the names, loan amounts, payment schedules and refund amounts of 6 other customers. I am furious that this spreadsheet may have been sent to others with my details on it too . Is there anything I can do here?
Sara (Debt Camel) says
“They worked out the 8% interest on each individual payment ” that is the correct way to do it.
re the data breach – complain and ask for compensation. Say £75.
Brian says
Thanks very much for clarifying
Charlotte says
Hi Sara,
Need some advice I have had 3 loans from 118 all taken out while borrowing heavily from payday lenders. The loans were used to pay back payday lenders as in a spiral of debt. Do you feel I will have a case to ask for redress on affordability
1st loan. Jan 2015 for £1000 paid off Jan 2016 interest paid £419
2nd loan. Jan 2016 for £1300 paid off Jan 2018 interest paid £1155
3rd loan. Jan 2017 for £1870 paid off October 2017 interest paid £800 approx.
Any advice would be gratefully received
Sara (Debt Camel) says
If the repayments to these loans were so much that you found you had to borrow more each month or have unpaid bills, then the loans were unaffordable and you should complain. the repeat borrowing suggests the loans probably were unaffordable!
Charlotte says
Hi Sara
I used your template asking for 118 118 to send me all info they had on me as per your step one guide,this was ent on the 30th May. 118 have come back to me today saying they will investigate and get back to me within 8 weeks. Should they not send me the SAR info I have asked for before this time so I can move on to step 2 of my complaint. Below is the email received today
Thank you for taking the time to contact us in regards to your concerns. We can confirm that your concern has been logged under reference CASE113990 and we’re currently reviewing the points you’ve raised.
We would like to apologise for the delay in this acknowledgement email reaching you, but we would like to reassure you that your complaint has been logged as of 30/05/2019.
We’re really sorry that you’ve been unhappy with our service. We will be conducting a thorough investigation and we’ll be writing to you again once this has been completed. We may give you a call/email if we need any more information to help us investigate your complaint.
We would like to assure you that we treat all complaints seriously. We are constantly striving to improve our services with all our customers and appreciate the feedback you have given.
We have up to eight weeks to investigate and resolve your complaint as per FCA guidelines; this is not to say our investigation will take eight weeks and please rest assured that we will be back in touch as soon as possible.
Sara (Debt Camel) says
The main aim of the SAR is to give you more ammunition if the case has to go to the Ombudsman. I would just settlement and wait for the decision.
Lou7 says
Hi
I had a refund from avant for my loans but they have sent me a default notice today via email and my account is still open. I need them to close it because it’s on my stepchange plan and they will be receiving another payment from them soon. I have sent numerous emails to avant but had no response. Can I tell stepchange the balance is now £0 or do I have to wait? Any information would be greatly appreciated.
Sara (Debt Camel) says
If you no longer owe Avant anything tell stepchange asap!
KR says
Varooma have failed to acknowledge my email complaint that my husband had, I’ve now submitted a SAR to ask for all information relating to the account, in anyone’s experience will this encourage them to look at the complaint now I have out this in? If they don’t respond to my complaint within 8 weeks can I go straight to the ombudsman and provide the emails as evidence?
Sara (Debt Camel) says
Yes you can. good move to ask for a SAR – it may not help with the complaint with Varooma but could give useful evidence when it has to go to FOS.
AF says
Hi Sara,
I took out a £1500 loan with Everyday Loans in March 2017 to be repaid over 24 months. Around August last year I contacted them to get a settlement figure, but this figure was just about the same as the current balance. When I asked why they said something along lines like because the loan only has about six months left there is no difference between the settlement figure and current balance. I then fell into financial difficulty , explained this to them but they still chased me when I missed the due dates and also added additional interests to the loan. I have now paid £4100 for a £1500..00. I submitted a complaint to Everyday Loans about the harassment and high interest charge and requested that I may case be looked into as I feel that I was taking advantage of. They have rejected my complaint on the grounds that I signed the agreement and the interest charge was correct. I am now taking this to FOS.
Can you give me any advice on this? Do you think I have a chance of getting some of the interest refunded back to me.
Thank you.
Sara (Debt Camel) says
You have three potential reasons to complain.
1) that the original loan was not affordable for you, as the article above says. It’s a good idea to ask the lender for a copy of all your personal information, including your application, any credit searches they made and recordings of any phone calls if you ever spoke to them on the phone.
2) that the settlement figure you were given was not correct. In most cases it turns out that it was, but you are entitled to have the calculation explained properly to you.
3) that they added on extra interest when they knew you were in difficulty at the end and this was not fair.
dylan says
Has anyone claimed against ‘mobile money Ltd.? Just asking I have had a few loans with them which I couldn’t afford
Sara (Debt Camel) says
not many people have talked about logbook loans. Give it a go – it’s just a few emails from you!
Adele says
Hi,
I am in affordable repayment plans with evanquis and likelyloans. I have queried interest with likely loans as it is frontloaded but they wont budge…stating they are helping me out by accepting a lower monthly repayment…but they wont refund then interest. Is this correct?
Sara (Debt Camel) says
It is correct BUT were the loans really affordable when you took them out?
The regulator’s definition of “affordable” says you should be able to repay the loans without hardship, borrowing more money or getting behind on bills. If you think the loans were unaffordable, put in an affordability complaint using the template letter in the article above. the complaint is likely to have to go to the Ombudsman and may take some time, but if you win all the interest will be removed, so in total you only repay the amount you borrowed,, which should be a big help to you.
Holly says
Hi all ,
I sent a data access req to my jar and they have sent me I do they have of me but in terms of the “credit checks” they have done all that is on there is a link to a website. Is this correct ??
Sara (Debt Camel) says
No, go back to them and say you want to see the results of the credit check they run on you in March 2018 (or whenever).
Holly says
Morning Sara ,
I done as you said straight away and this is what they came back with :
We can confirm that the file provided reflects the available data we hold regarding the credit checks performed on your account. The file provided confirms the date and time the checks were performed along with the credit reference agency used to perform the check.
Sara (Debt Camel) says
Can you go back and ask “Does this mean that you hold NO details about what the credit check showed? No indications of my level of debt? Of defaults, missed payments, number of current and recent short term lending debts?”
Holly says
In accordance with the General Data Protection Regulations (GDPR) and the Data Protection Act of 2018 (DPA 2018), we are not required to provide data that is proprietary or could compromise our security processes. The details we obtain from the credit file are specific to our internal criteria and calculations performed. The data is also used for our anti-money laundering and fraud prevention processes. For this reason, providing the specific data we hold would compromise our internal processes and security obligations.
The data we have provided, confirms all the personal data used to obtain data from the credit reference agency (application information), when the data was processed by third party services and which third party services processed your personal data.
You can find more information about TransUnion (formerly CallCredit) and the data they provide here; https://www.transunion.co.uk/crain. You can also obtain details about your credit file here; https://www.transunion.co.uk/consumer-solutions.
As you have indicated that you are unhappy with the way your personal information is used, we have forwarded your email to our complaints department for further investigation.
If you remain unhappy about how your personal data has been used please contact our Data Protection Officer at dpo@myjar.com.
Last email from them my jar
Sara (Debt Camel) says
Let’s step back. Exactly what do you think Myjar should have seen on your credit report, from your Noddle data? are you actually arguing over something that is going to help your case?
Holly says
They should have seen exactly what we said previous loans defaults loans at the time I borrowed £700 from them .
Sara (Debt Camel) says
OK it was just checking in case you were spending a lot of time arguing about something really trivial!
I suggest you go back and say it is ridiculous to say proving you with infomration could in any way affect money laundering or fraud prevention as the loan has already been given and there is no suggestion of fraud. And that as they are refusing to say what infomration they hold, they are obstructing you from making your complaint to FOS, but you will assume that they saw all the information on your credit record and that they do not intend to argue otherwise to FOS.
You look forward to hearing from their complaints department about this GDPR issue, but in the meanwhile if they do not give you a satisfactory offer to your affordabilty complaint it will be going to FOS.
Holly says
Thank you sorry to be a pain they are being really difficult though :(
Sara (Debt Camel) says
it’s fair to say you have probably been more of a pain to Myjar than to me!
Holly says
I hope so muhahaha
johnvan says
Sara
In April 2016 I applied for a loan with Everyday Loans. I believe it was for £4000. After submitting my application I was called into their office and asked to bring various documents including my bank statement for the previous month. This statement and the credit check they carried out showed that I had a large number of payday loans so they increased to loan to £8000 so that I could pay these. Obviously I didn’t do so.
The March 2016 bank statement showed 10 deposits from payday lenders totalling £2700, 19 payments to payday lenders totalling £3042, failed direct debits of £1000 to HMRC and HSBC mortgage and 50 betting transactions totalling £1100.
I submitted a complaint and a DSAR request asking for a refund of 50% of the interest paid. After pursuing them they did supply the DSAR. A lot of documents but not included was the loan application which I had completed or the credit report with derogatory comments that they referred to in their notes. Based upon the DSAR information I expanded upon my reasons why the should not have lent to me.
John
Sara (Debt Camel) says
Why are you only asking for 50% of the interest you have paid? It sounds clear this was a poor lending decision.
Also go back to them and say they have not supplied you with a copy of your credit application or the credit report.
johnvan says
Sara
Everyday Loans Saga continued
I received a response by post from the Customer Resolutions Manager yesterday rejecting my complaint to which I responded (extract below)
I am surprised that in your response you state “your bank statements were assessed and although gambling transactions were noted along with a returned direct debit for a HMRC payment (of £251. 18) this was not deemed to be prohibitive”.
Factually this was 50 betting transactions totalling £1100. Over 30% of my income, and not deemed prohibitive?
Failed payments to HMRC not considered prohibitive?
On top of the gambling transactions debt repayments during March 2016 totalled £3042. Almost 90% of my income and not questionable?
Receipts from Payday lenders totalled £2700. Not questionable?
Regarding the missed mortgage payment which you refer to in your response I did not specify 1st March 2016. If you look at the bank statement included in the information supplied and in your DSAR the mortgage payment that was returned unpaid was on 30th March 2016.
Unfortunately because you failed to observe the missed mortgage payment in the bank statement supplied I have to question the thoroughness of the investigation carried out into my complaint.
Sara (Debt Camel) says
I suggest you say unless they make a satisfactory offer you will be sending the case to FOS at the end of next week.
johnvan says
Sara
Thanks.
I was genuinely shocked by their final decision. My response did give them a week to reconsider their decision before escalating to the FOS.
And the reason I asked for 50% was because in all my cases that would be the amount that satisfies me and I thought it was a clear cut case that would be quickly settled.
John
L says
Hi,
Had one loan with loans2go for £500, held it for two months and paid £300 in interest. Complained it was lent irresponsibly because of the state of my credit report, had a response today that it was rejected because when they took into account my wages of £2500 and outgoings (literally all on cards and loans) I was left with 16p which showed it was affordable (literally their words)
Surely this is wrong? I have won lots of other battles and lost equally as many.
Should I fight this?
Joseph says
I would 100% fight this, take to fos!
Sara (Debt Camel) says
They are dreadful but that response is beyond belief. Yes definitely take this to the Financial Ombudsman!!!
Glen says
Hi Sara,
Quick question, I toook out a loan with 118118 in Sepetember 2018 for £3000 for 3 years at £238 a month.
As per my other threads though on the “Payday” thread, I was/am heavily over extended on credit at this time, and my credit report and bank statements will have shown this. (In fact for this loan I didnt even have to speak to anyone, let alone submit any other information). Example £2000 a month rrepayment to 247 and SNC ALONE. Before any other creditors and bills and day to day living, so I was reliant on them re-lending to me to just get by, to this loan shouldnt have shown up as affordable really to them.
I have received my SOR from them and am busy compiling my bank statements and credit file and reply email to them. Howver, As you will see by the opening sentence, I only took the loan in September and it still has another 2+ years to go, and also it is only the one loan with them.
Is it worth FOS investigation?
Many Thanks
Glen
Sara (Debt Camel) says
Absolutely. FOS is taking the view that the larger the loan, the lower someone’s income and the more there was repeat lending , the better the affordability check should have been. So for small payday loan amounts, it’s the repeat lending that is often the key to winning a case. But for loans for lenders such as 118 Money, it is possible to win a single loan case because the loan was so large.
That is why there is a separate page here and a slightly different template letter. And it starts by asking for all your personal information as that can help you prove the lender either didn’t ask enough or ignored what they found out.
Miss R says
Hi everyone
Quick summary of my complaints: Safetynet Credit – they agreed with me and refunded all interest. All the others rejected (pounds 2 pocket, lending stream, cashfloat, satsuma, 118118, Likely, Avant & Amigo). All gone to FOS and Adjudicator appointed to 2: partial agree with cashfloat (last 2 out of 6 loans); complaint about Likely Loans rejected. They say that the checks Likely did indicated that the Loan was affordable. I was on £3100 pm and the loan was for £5k (£8k with interest) at £450 pm. They say that i told them my other credit commitments were £800 per month and they relied on this. However, i have been through my bank statements (which the FOS have) and can see that my other credit commitments alone for the 3 months before were between £1800-£2300 – that’s before my rent, bills, food, and loans i had with family members (which i admit they wouldn’t have known about).
Surely the FOS can’t just say “you told them £800 and they were right to rely on that” when my credit report would have shown something completely different?
Within 2 months of me taking out the Loan with Likely (last September) I had to enter into payment arrangements with my creditors – again, why has the Adjudicator not seen that it clearly wasn’t responsible or sustainable? It’s a frustrating process, hopefully the Ombudsman will see things differently but I hear it’s not often they’ll disagree with the Adjudicator;s findings…
DM84 says
I wish something could be done about likely. It seems they do no checks whatsoever or they do not have to show their checks to the us. If anyone wants a loan with them. Say your wages are high and your debts are low then bingo you’ll get approved. When they claim our credit ratings are high why are we directed to them on comparison sites and not better lenders with lower rates? It is my opinion they are effectively unregulated. You should see the nonsense they put on my credit report each month. It changes all the time, late payment, missed payment, payment. My payment plan of 6 months shows a different status each month when it is paid in full, on time, every month. Adjucicator did not agree on affordability complaint and incorrect reporting on credit file. Likely have upheld my complaint before then changed their mind and sent me someone elses statement before. I would advise anyone to stay well clear of them.
Sara (Debt Camel) says
If you are unhappy with the adjudicator decision then you should ask for I to go to an Ombudsman.
Miss R says
Hi Sara
I have been through my statements line by line and responded to the Adjudicator setting out my outgoings for the 3 months before the Likely loan, purely just the credit commitments which will have been visible to them on my credit report – all 3 months it’s roughly treble the £800 i apparently put on the application – i can’t remember what i put to be honest. That’s before any payments they will not have seen like my rent and bill contributions, food, costs of living etc. I have said that if they still feel that Likely were right to deem the Loan affordable given the information they had access to then I would like it referred to an Ombudsman. So we shall see!
Leila says
Hi, your website is amazing. Could I please ask you a question? I took out a loan with 118 -118 for £1000. I was Hoping to repay early and avoid the eyewatering interest. However they applied the interest for the entire 24 months immediately . I have 9 months left and they made me an offer of £800 to close the loan. This would bring the amount paid up to 2270, which is over 100% of what I initially took out. Even if I see the loan through i’ll pay 2370. Is this legal? Is there anything I can do?
DM84 says
Hi Leila,
I fell for that with 118118. What they do is apply 2 months interest if you pay early so effectively as soon as you take the loan it you owe them 2 months interest after the 14 days. I too thought paying off would be sensible but it saves close to nothing for a certain amount of time. It’s a very deceitive thing to do in my opinion and also morally wrong. They already hammer you with interest then punish you further for paying off early. Unfortunately it will be in the small print. 118118 & Likely loans it seems can do whatever they want.
DM84 says
Hi,
I dont know if this helps anyone structure their case against likely as they refuse to provide info on how they assess applications. I found it on their privacy statement.
“We use automated decision making as part of our loan assessment process. We use an internal scorecard which takes the data you provide us with and combines it with information from Credit Reference Agencies (this will include details on how you manage your accounts, the balances outstanding and whether your payments are made on time or not). From that information an automated decision is taken on whether to lend based on our pre-defined criteria. Additionally, if we do lend we would continue to run this scoring to decide whether to invite you to apply for a top up loan”
They clearly state in their brackets that they use CRA data which includes payment history.
I know from my case they provided a 3 digit number for my credit score on my application and nothing else (no payment history, types of accounts etc). I had 3 defaults on my account ranging from 1 to 3 years prior to me taking out the loan and lots of missed payments.
As stated my complaint was not upheld at adjudicator level but I have asked for an Ombudsman to look at it. I have just emailed the FOS these details in the hope they will ask where this data is they claim to use (if it exists at all).
Dan says
Quick question sara .my two loan plus one top up (118118) has been at fos for just over a year waiting for an adjudicator is this normal it obviously is my largest loan on my dmp.Overall unhappy with fos as seven payday loan companies also none of which sorted as of yet .I know their busy but others seem to be fairing a lot better .I phone once a month for updates but just get told all paperwork is there waiting for adjudicator.my cases are no more complicated than others some getting adjudicated in weeks as much as I’m happy for them its not right.
Sarah says
Hi Sara,
I made an affordability complaint to welcome finance and they have come back to me and said basically i am out of luck because they have gone bust. I had a loan in 2007 and then topped it up in 2008 – i am still paying it off now! the interest is phenomenal and although i can afford the payments now, i have had so many years where i missed payments and struggled to afford to live despite borrowing left, right and centre. Is it worth taking it to the Ombudsman or are they correct and i am out of luck?
Thank you in advance
Joseph says
Wow 11 years paying it back is a lot. But unfortunately I think they are right. You can still submit a claim if they’re going through administration though? I think you will become an creditor but if you will you only get a few pence in every pound back. I think you should try to find out a bit more about if you can complaint as it’s close to the time limit to make a complaint I think (vague I know but hope this helps)
Sara (Debt Camel) says
Welcome Finance went bust in 2011. T.here is no more money for any claims (with the exception of PPI, which can go to the FSCS scheme for compensation.)
Even if they hadn’t gone under, you would have VERY little chance of winning a complaint about a secured loan and which was taken out so long ago.
I’m sorry but unless you can remortgage at an OK rate to pay them off, you should consider selling to escape this loan.
Nicnaknoo says
I have just made an affordability complaint to 118. They gave me a large loan of £2000. I have a very poor credit rating, a history of many payday loans, credit cards, catalogues and gambling. 118 didn’t call me to over anything and they didn’t ask me for any proof of income, bank statements etc. This is the first time I have borrowed from them They have declined my application in the past. They approved the loan with little to no checks. I was so desperate that I accepted it. Do you think that I have any chance of winning a one loan complaint here?
Sara (Debt Camel) says
You can win one loan complaints where the loan is large, which yours is. Have you asked them for a copy of all your personal information? Had your site improved from when they previously declined you.
NicNakNoo says
Yes I have asked for information on the checks they made and the information they hold on me. And my situation hasn’t really improved. I took a likely loan out the same month for £1000 which the 118 loan has subsequently paid off plus some catalogues I had. I didn’t tell them it was for debt consolidation either. So they should’ve seen I already had a large loan with Likely loans, other debts plus recent history of payday loans. Most of which I have now received refunds for thanks to this site :-)
B smith says
Hi Sara
I really need your help. I have been struggling to make my logbook loan repayments lately. I thought last month was paid as far an I knew and I had no correspondence to say that it hasn’t been paid as I had the funds in my bank. Fast forward to this month and I did struggle to make payment so spoke with motorkitty and explained to them that I was struggling. It’s only then they informed me that I was behind two months and not one! I explained I didn’t know this and that this Friday I would pay the £220 to clear arrears. Today I have received an email to say they Need me to pay the full balance over £2500 or that they will recover my vehicle! I am in a state of panic and don’t know what to do. Any help would be appreciated as I am going to make an affordability complaint now too.
Sara (Debt Camel) says
First you need to look at your bank account for the last two months to see if the loan payments were made? or if it looks as though the money was there in your account but the payments were not taken?
When you have done that, phone National Debtline on 0808 808 4000 to discuss the “arrears” and what your options are. Their webchat is also very good so try that if you can’t get through on the phone.
Tell ND you are making an affordability complaint but you need urgent advice on your options to prevent repossession.
B smith says
Thank you Sarah. I spoke with them but ultimately it’s up to motorkitty with what they decide. I have spoken with them and told them I want to pay as much as I can with them, and what can they do in terms of a plan for me as I am struggling. So far they have wanted to work with me, let’s see if that stays the same. I hope they agree to let me clear the arrears on my next payday. I have already paid a token £50 today to them. Thank you for your help
Sara (Debt Camel) says
ok but do pursue the affordability complaint!
Rich says
Had a result from 118 money partially upholding my claim. Original loan claim was turned down but the extension I received on that loan was upheld because they couldn’t find the credit report they used to grant me that extension loan. They therefore have claimed to do nothing wrong. I have replied and asked for 8% interest to be added to this offer.
Will update their reply.
D says
Superb result
I’ve also a complaint in against them and it is only regarding the top up loan I recieved. I’m really just wanting that cleared rather than anything back. But I’ll watch your case with interest
Aon says
I have one with 118. They sent me my SAR info without the December Credit Reference Agency Report for the top up. I have asked for it and the 8 weeks is up next week. I think they have a problem with their systems.
L says
I had four loans with 118 totalling £3850 for loans two three and four,, paid over £5850 back. Second loan was normal and third and fourth top ups, they cleared my remaining £1800 and paid back everything over the £3850. They are really naughty with the way they did the 8%, they classed that as from when the £3850 was paid and not before even though interest was paid on all loans, which meant I got £52 but I didn’t argue and i was paid next day!
KK says
Did they wait the full 8 weeks to respond?
L says
They asked for more time the Friday but they got back to me on the Monday :)
Gail says
Has anyone had any dealings with creation loans/creation finance, I had a loan from them in 2014. I’ve been asked for more time as their waiting on information, anyone any experience with them please?
B smith says
They supply logbook loans too. I have one with them and have been getting all sorts of emails regarding repossessing my car due to a fault by them not taking a months payment. They had actually been playing ball and are willing to compromise with a plan moving forwards, but I find them very volatile so one minute they are helpful and the next threatening. I haven’t submitted my affordability complaint yet, but I will be. I always get the feeling they could be hard to play ball
Gail says
Thank you very much, OK mine is personal loan I put in affordability complaint, has gone over 8 weeks but did receive a nice letter explaining why and asking for more time, I’ll post the outcome when they send me their final response, thank you for your replies.
Joseph says
Yes I have, I just won a case with the ombudsman a few weeks ago. I hated this company, probably the worst one out of them all. Do you have any specific questions about them? I might be able to help
Gail says
Aw thank you, not an important Qs I just wondered if they normally go over the 8 weeks, they said there waiting on information from somewhere, this was 3 wks ago, it’s now been 11 wks since I submitted my complaint, if there reasonable I’ll wait, but I haven’t heard anything about anyone’s experience with them.
Sara (Debt Camel) says
Send it straight to FOS. I can’t think what the lender is waiting for and they are unlikely to make a good offer.
Joseph says
Yeah they did the same with me. Soon at it got to 8 weeks I sent to FOS as they just mess you about again and again. I cut off all contact with them and just spoke with FOS who ruled in my favour, I had the last laugh
Katy James says
Hi Sara,
Can you offer any advice…..
I took a loan out with On Stride of £2000 over 2 years in 2015. I had several payday loans out at the time as well as a very poor credit rating. I had to contact them several times to reduce the monthly payment or miss it altogether and pay double the following month.
The loan was paid off in 2017.
I recently contacted them re irresponsible lending and requesting all interest and charges refunded. They have rejected this saying I am due nothing back. I have contacted the FOS. Would you think I have a strong case to get the interest and charges refunded?
Sara (Debt Camel) says
It is definitely worth making a complaint to get FOS to look at these large loans.