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  • FIRST POST
    • woody53
    • By woody53 17th Jul 15, 9:32 PM
    • 28Posts
    • 69Thanks
    woody53
    Reclaiming money back from various payday loan companies
    • #1
    • 17th Jul 15, 9:32 PM
    Reclaiming money back from various payday loan companies 17th Jul 15 at 9:32 PM
    Hi all just wanted to share some good news regarding payday loan companies.....
    From early 2011 until mid 2014 I too was caught in the payday loan trap, all my own fault may I add, I borrow the money and in the end paid every penny back, would estimate 15000 over the years maybe 20.
    Early this year I saw all the news regarding payday loan companies and irresponsible lending, unfair interest etc etc etc, so I decided to have ago and try and get a few quid back myself.
    So far I have been in contact with 5 of the companies I was lending multiple loans from at the same time with many roll overs too, I have received 4 apologies and offers totalling over 5000 and the other complaint is now with the ombudsman.
    I never expected these amounts back but if you too were in the same situation, get all your facts in order and get complaining, from the initial email sent I had the money back within 8 weeks.
Page 138
    • Leanneglos1
    • By Leanneglos1 10th Aug 17, 11:06 AM
    • 60 Posts
    • 19 Thanks
    Leanneglos1
    Hi me again, FOS have requested reports for when my loans were opened in May, clearscore report is based on my current situation and not my situation in May, any ideas how I get the May report as they've asked??
    • sourcrates
    • By sourcrates 10th Aug 17, 2:00 PM
    • 12,175 Posts
    • 11,641 Thanks
    sourcrates
    Hi me again, FOS have requested reports for when my loans were opened in May, clearscore report is based on my current situation and not my situation in May, any ideas how I get the May report as they've asked??
    Originally posted by Leanneglos1
    Look at the history, usually shows the previous 24 months.

    Take a screenshot of it.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • BreakFree14
    • By BreakFree14 10th Aug 17, 3:54 PM
    • 14 Posts
    • 6 Thanks
    BreakFree14
    After originally being rejected and told by Lending Stream that my 20 loans were affordable, I complained to the FOS on the 31st of July.

    Today, LS have came back to me agreeing to wipe around £400 of my current outstanding debt with them leaving just over £100

    Another small win after my earlier dealings with 247 Moneybox and just shows that you should never take their first reply as final. I could possibly keep going and get them to wipe all outstanding but I will take this as a win.
    • Leanneglos1
    • By Leanneglos1 10th Aug 17, 10:52 PM
    • 60 Posts
    • 19 Thanks
    Leanneglos1
    Can I ask did they only wipe it after escalated to FOS, did you tell them you were escalating and they replied with that or did FOS tell lending stream they had to do it, just wondering how you got lending stream to do that after initially refusing your complaint??

    Moneyboat have declined my complaint, just wondering if I should tell them I'm escalating to FOS to see what their response to that is?
    • KatieShopstoomuch
    • By KatieShopstoomuch 11th Aug 17, 7:20 AM
    • 488 Posts
    • 396 Thanks
    KatieShopstoomuch
    Ive sent my complaints to lending stream wonga and payday uk I'm sure it'll be a long wait and it won't be huge amounts but I'd be glad of anything back!

    Winging life....

    • BreakFree14
    • By BreakFree14 11th Aug 17, 9:21 AM
    • 14 Posts
    • 6 Thanks
    BreakFree14
    Can I ask did they only wipe it after escalated to FOS, did you tell them you were escalating and they replied with that or did FOS tell lending stream they had to do it, just wondering how you got lending stream to do that after initially refusing your complaint??

    Moneyboat have declined my complaint, just wondering if I should tell them I'm escalating to FOS to see what their response to that is?
    Originally posted by Leanneglos1
    I originally complained to Lending Stream around the 10th of July which they outright rejected telling me it was ok for them to give me 20 loans all back to back. So I went to the FOS and I can only imagine that within 10 days of going to the FOS they contacted LS telling them they didnt lend to me appropriately.
    • Leanneglos1
    • By Leanneglos1 11th Aug 17, 9:44 PM
    • 60 Posts
    • 19 Thanks
    Leanneglos1
    Sorry to ask another q, did you tell LS you were going to FOS?
    • a8887
    • By a8887 12th Aug 17, 10:54 PM
    • 2 Posts
    • 0 Thanks
    a8887
    Evening all.

    Following advice on this thread I have made a complaint to the FOS about Quickquid and PayDayUK. So far I've heard back about PaydayUK, and the FOS have agreed that they will pay back all interest and charges (approx £2k) on debts approx 5 or 6 years ago.

    However, this was nearly 4 weeks ago, and all I have heard from PaydayUk since is an email asking for bank details. They also haven't supplied any details on what the settlement is (£2k is my estimate).

    Do they always leave it this long?

    They basically have 1 more working day to sort it or I will have to go back to the FOS to complain.
    • TAZ
    • By TAZ 13th Aug 17, 4:01 PM
    • 221 Posts
    • 55 Thanks
    TAZ
    hi i have done some complaints regarding irrsponsible lending in the past with very good results from oakham and cash convertors. However i am wondering if i could get some help regarding a doorstep lender in my local town who has in the last 12 months sold all live accounts to Morses club. I have had lots of loans with the original company and thought i could get the information from morses they however say that since they only bought live accounts they dont have the information i need. Checking company house shows the original company is still a live company but not sure if they are still trading as a loan company, how would i go about getting my statements and possibly going ahead with a complaint. thank you for reading
    • Daveahare99
    • By Daveahare99 14th Aug 17, 9:55 AM
    • 49 Posts
    • 20 Thanks
    Daveahare99
    Payday loans companies deserve what they get.

    The idea that these are good successful British companies paying into the national coffers is a bit wide of the mark.

    Sure they probably do pay taxes and employ people on minimum wage. But....

    Their funding comes mainly from the bond market and international investment funds. Think wonga was Abu Dhabi.

    So no need to guess who get the lions share of dividends and profits on loans with 4 million % APR or whatever it is.

    Thanks
    • Neo187
    • By Neo187 15th Aug 17, 10:32 PM
    • 254 Posts
    • 7,952 Thanks
    Neo187
    Evening all.

    Following advice on this thread I have made a complaint to the FOS about Quickquid and PayDayUK. So far I've heard back about PaydayUK, and the FOS have agreed that they will pay back all interest and charges (approx £2k) on debts approx 5 or 6 years ago.

    However, this was nearly 4 weeks ago, and all I have heard from PaydayUk since is an email asking for bank details. They also haven't supplied any details on what the settlement is (£2k is my estimate).

    Do they always leave it this long?

    They basically have 1 more working day to sort it or I will have to go back to the FOS to complain.
    Originally posted by a8887
    Any luck on the settlement or still waiting?
    Started comping: September 2013
    Wins so far: Cunard QM2 Cruise, X Factor final tickets, £1,000 Team build day, Dinner at the Ritz with Rolls Royce limo

    • sourcrates
    • By sourcrates 15th Aug 17, 11:29 PM
    • 12,175 Posts
    • 11,641 Thanks
    sourcrates
    Sorry to ask another q, did you tell LS you were going to FOS?
    Originally posted by Leanneglos1
    Makes no difference as the FOS writes to the lender anyway asking for there version of events.

    100% yes you should go to the ombudsman, that's usually the point the PD lenders cave in.

    You also cost them an additional £550.00 referral fee.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there, and delete spam.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • Neo187
    • By Neo187 16th Aug 17, 6:56 AM
    • 254 Posts
    • 7,952 Thanks
    Neo187
    For anyone that recently been through the whole process, did you find that Wonga, paydayuk and quickquick took longer than 8 weeks to respond the the initial complaint? Or did you receive a final response with or without offer by that 8 week point?

    Has anyone had success also in having the defaults removed if the companies agree to repay?

    Thanks
    Last edited by Neo187; 16-08-2017 at 12:00 PM.
    Started comping: September 2013
    Wins so far: Cunard QM2 Cruise, X Factor final tickets, £1,000 Team build day, Dinner at the Ritz with Rolls Royce limo

    • henrryyyy
    • By henrryyyy 16th Aug 17, 7:00 PM
    • 59 Posts
    • 56 Thanks
    henrryyyy
    For anyone that recently been through the whole process, did you find that Wonga, paydayuk and quickquick took longer than 8 weeks to respond the the initial complaint? Or did you receive a final response with or without offer by that 8 week point?

    Has anyone had success also in having the defaults removed if the companies agree to repay?

    Thanks
    Originally posted by Neo187
    Wonga and paydayuk both replied within the 8 weeks for me, wonga was outside of the 6 years time frame for me so I didnt take it any further(i know i can still try and complain but i only had a couple of loans with them so decided not worth the hassle), pduk rejected my complaint, so I took it to FOS, ajudicator found in my favour, but pduk failed to respond to their decision, so I believe its being passed on to an ombudsman.
    • Neo187
    • By Neo187 17th Aug 17, 5:22 PM
    • 254 Posts
    • 7,952 Thanks
    Neo187
    Had MyJar offer to repay my interest on a loan I had with them which Ive accepted. I took this loan prior to having a melt down financially and went onto a DMP. I've asked if they can remove this default from my credit file, even though they agreed to repay the interest, they are refusing to remove the default. Is it worth pursuing to get default removed?
    Started comping: September 2013
    Wins so far: Cunard QM2 Cruise, X Factor final tickets, £1,000 Team build day, Dinner at the Ritz with Rolls Royce limo

    • robdogg11
    • By robdogg11 18th Aug 17, 11:58 AM
    • 29 Posts
    • 12 Thanks
    robdogg11
    For anyone that recently been through the whole process, did you find that Wonga, paydayuk and quickquick took longer than 8 weeks to respond the the initial complaint? Or did you receive a final response with or without offer by that 8 week point?

    Has anyone had success also in having the defaults removed if the companies agree to repay?

    Thanks
    Originally posted by Neo187
    Mr Lender removed the default but only after I asked them to after their initial offer.

    Quickquid offered to in their response to the FO but I didn't agree with the settlement. I assume they still will when the adjudicator finishes investigating.

    As for time frames:

    Wonga: Complaint sent 05/01/17 They finally responded on 17/03 but they did keep me fully updated throughout saying they were busy etc
    QQ: Complaint sent 16/11/16 they responded on the 13/01/2017
    PDUK: Complaint sent on the 25/11/2016 and they responded on the 5/01/2017
    • a8887
    • By a8887 20th Aug 17, 11:01 PM
    • 2 Posts
    • 0 Thanks
    a8887
    Sorry for the lack of update.

    PaydayUk sent me an email with a letter attached stating how much I was getting (£1930) at about lunchtime on Monday (the last day), the money then appeared in my account about an hour before the end of the day. They didn't half cut it fine.

    I have a similar sized complaint against QuickQuid, but the ombudsman have said they are discussing whether or not loans from over 6 years count. They did for the PaydayUk claim, so I'm not sure why it would be any different for Quickquid....
    • Louise35
    • By Louise35 21st Aug 17, 1:52 PM
    • 7 Posts
    • 0 Thanks
    Louise35
    Hi,
    Ive sent my emails to the my loans, however paydayuk replied with:
    "Many thanks for your recent contact.

    This account currently has no sums due or payable. Therefore, we have no current obligation to provide a statement of account under Section 77 of the Consumer Credit Act as per Subsection (3) of Section 77 which states that the requirement under “Subsection (1) does not apply to – (a) an agreement under which no sum is, or will or may become payable by the debtor.”

    Anyone have any ideas where i go next?
    Thanks
    Laura
    • frannyj543
    • By frannyj543 21st Aug 17, 4:44 PM
    • 66 Posts
    • 34 Thanks
    frannyj543
    Hello folks just came across this forum.

    My friend recently told me about claiming back.

    I had loans with:
    Quick quick
    Peachy
    Wage day advance
    Piggy bank
    Payday UK
    Ferratum
    Money boat.

    Within 2 days of writing to them all peachy offered me 112.00 back. So I accepted. That was interest and charges.

    Waiting to hear from the rest. Anyone any success with these companies in the end?

    Quick quid was my biggest borrowing around 2000 in total. I had repaid them once with the help of my mum and requested them to ban me from their service however in a moment of madness 2 months later I had racked up another 700 quid loan.

    To be honest it was my own fault but the charged me a fortune so anything back would be good. How soon anyone reckon I will hear from the others.

    Any other info on refunds from the other companies mentioned? Most of my loans ended up being repaid with payment plans.
    • KatieShopstoomuch
    • By KatieShopstoomuch 22nd Aug 17, 9:47 PM
    • 488 Posts
    • 396 Thanks
    KatieShopstoomuch
    I only had one loan with Mr Lender but interest and charges ( as i had to roll over) were £140 is it worth trying to claim these back or will it just be rejected as I only had one? Still no reply from lending stream, payday uk or wonga

    Winging life....

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