Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • 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 3
    • woody53
    • By woody53 4th Dec 15, 7:47 PM
    • 28 Posts
    • 69 Thanks
    woody53
    Well done Rossim1985.....and I do agree with you UDS, at the time a few of them did help me out of a hole and I am sure many others have had good experiences from PDL's but I can only speak about my experience........ once you start borrowing its hard to stop unless you can increase your income by doing overtime etc at the end of the month it becomes an endless cycle of borrowing from one company to pay the other while juggling your mortgage and other bills......I had so much money going out I had about 10 companies I owed to at the end of one month..... in the end I paid every penny back but have got back what they and the ombudsman deemed I deserved.....so once again good luck to those who are fighting to get there charges back.
    Last edited by woody53; 04-12-2015 at 8:13 PM.
    • jon8sher
    • By jon8sher 4th Dec 15, 9:09 PM
    • 22 Posts
    • 13 Thanks
    jon8sher
    Thanks for your encouraging updates! I have 5 complaints lodged with various companies. Lending stream have replied with a definite no and that complaint I have just lodged with the financial ombudsman. For 3 years I was borrowing increasing amounts until 90% of my take home pay was repaying loans and I could not get out of the cycle. I finally got there with the help of stepchange but 2 years on I am still paying these debts off. Harsh lesson learned.
    • dazzaofdagenham
    • By dazzaofdagenham 9th Dec 15, 9:01 AM
    • 1,045 Posts
    • 359 Thanks
    dazzaofdagenham
    I sent a email to quickquid and they say I need to write to them to gain the information I require about fees and charges etc.

    I will do that, but are they entitled to make a charge for this

    Thanks

    Darren
    • sourcrates
    • By sourcrates 9th Dec 15, 9:30 AM
    • 12,190 Posts
    • 11,650 Thanks
    sourcrates
    I sent a email to quickquid and they say I need to write to them to gain the information I require about fees and charges etc.

    I will do that, but are they entitled to make a charge for this

    Thanks

    Darren
    Originally posted by dazzaofdagenham
    No, not normally, who has mentioned any charge ?
    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/
    • dazzaofdagenham
    • By dazzaofdagenham 9th Dec 15, 10:11 AM
    • 1,045 Posts
    • 359 Thanks
    dazzaofdagenham
    No, not normally, who has mentioned any charge ?
    Originally posted by sourcrates
    No one has mentioned any charges to get info yet...I was just wondering if they could charge me for getting the info from them

    Thanks
    • woody53
    • By woody53 9th Dec 15, 5:10 PM
    • 28 Posts
    • 69 Thanks
    woody53
    Dazza sent you a message mate, I never asked for the info from them, I just checked through bank statements, let them do the work mate, they should have all the information they need on record, send them an email to get the ball rolling experience, quick quid did not play ball until the ombudsman got involved, but I have seen a recent report about them refunding, need anymore help just message me....
    • Tyrone Black
    • By Tyrone Black 9th Dec 15, 5:52 PM
    • 110 Posts
    • 252 Thanks
    Tyrone Black
    I'm glad people are doing this. Yes, it was a bad idea to borrow from payday lenders in the first place but let's not forget that their whole business model was and is designed around allowing people to get out of their depth and extracting more and more money from them.
    • dazzaofdagenham
    • By dazzaofdagenham 9th Dec 15, 10:26 PM
    • 1,045 Posts
    • 359 Thanks
    dazzaofdagenham
    Even though I defaulted on my last quickquid loan it appears I can still access the account and get details of loan etc.

    So I added up the interest charges and the total is 210 pounds over 3 loans..

    I shall try a claim and see how far I get
    • sourcrates
    • By sourcrates 9th Dec 15, 10:35 PM
    • 12,190 Posts
    • 11,650 Thanks
    sourcrates
    No one has mentioned any charges to get info yet...I was just wondering if they could charge me for getting the info from them

    Thanks
    Originally posted by dazzaofdagenham
    No, they won't charge you for the information.

    Good luck !!
    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/
    • dazzaofdagenham
    • By dazzaofdagenham 10th Dec 15, 8:19 AM
    • 1,045 Posts
    • 359 Thanks
    dazzaofdagenham
    Letter being sent to quickquid today,.....recorded delivery !!!
    • dazzaofdagenham
    • By dazzaofdagenham 11th Dec 15, 3:05 PM
    • 1,045 Posts
    • 359 Thanks
    dazzaofdagenham
    Must give credit to quickquid and they have supplied some info mi have requested via email...m

    Gotta look through it and see

    Darren
    • dazzaofdagenham
    • By dazzaofdagenham 11th Dec 15, 6:55 PM
    • 1,045 Posts
    • 359 Thanks
    dazzaofdagenham
    Well done Rossim1985.....and I do agree with you UDS, at the time a few of them did help me out of a hole and I am sure many others have had good experiences from PDL's but I can only speak about my experience........ once you start borrowing its hard to stop unless you can increase your income by doing overtime etc at the end of the month it becomes an endless cycle of borrowing from one company to pay the other while juggling your mortgage and other bills......I had so much money going out I had about 10 companies I owed to at the end of one month..... in the end I paid every penny back but have got back what they and the ombudsman deemed I deserved.....so once again good luck to those who are fighting to get there charges back.
    Originally posted by woody53
    Can you help with a template letter to reclaim interest and charges
    • sourcrates
    • By sourcrates 11th Dec 15, 7:39 PM
    • 12,190 Posts
    • 11,650 Thanks
    sourcrates
    Can you help with a template letter to reclaim interest and charges
    Originally posted by dazzaofdagenham
    Hi,

    You can't use a template letter for this purpose.
    You have to cite your own reasons why you belive the loans were unaffordable for you, there may be a few similarities between cases, but only you know your own financial situation.
    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/
    • w4nnabd3tfree
    • By w4nnabd3tfree 15th Dec 15, 12:34 PM
    • 2 Posts
    • 1 Thanks
    w4nnabd3tfree
    Just want to add my experience with this after reading this thread a while back.

    I emailed Quickquid and asked them to refund a total of about £8k in fees and charges. Quickquid replied the next day basically saying no. So I immediately raised a complaint with the ombudsman and let Quickquid know that I had done so. They emailed back saying " that wasnt our 'final response'" and I emailed them back saying " it sure sounded like it!"

    so anyways ombudsman got involved pretty early and i got £7k back from quickquid! I Thank you Woody , if it wasnt for this thread i'd not have known to complain!!
    • woody53
    • By woody53 16th Dec 15, 2:37 PM
    • 28 Posts
    • 69 Thanks
    woody53
    Great news w4nnabd3tfree.....christmas bonus....just seen a few posts popping up about people getting refunds paid back into there accounts from the money shop etc plus numerous other companies giving refunds too, so I think we were right to complain when we did.....no smoke without fire.....just had my final two complaints upheld by the ombudsman and the companies involved have agreed with there findings so just waiting for the refunds.....still waithing to hear back from another company which is not with the ombudsman and thats them all sorted, 9 companies in total...started the ball rolling at the end of May and hopefully should be all sorted by January, its taken along time but its been more than worth it in the end........
    • dazzaofdagenham
    • By dazzaofdagenham 31st Dec 15, 11:04 AM
    • 1,045 Posts
    • 359 Thanks
    dazzaofdagenham
    Just want to add my experience with this after reading this thread a while back.

    I emailed Quickquid and asked them to refund a total of about £8k in fees and charges. Quickquid replied the next day basically saying no. So I immediately raised a complaint with the ombudsman and let Quickquid know that I had done so. They emailed back saying " that wasnt our 'final response'" and I emailed them back saying " it sure sounded like it!"

    so anyways ombudsman got involved pretty early and i got £7k back from quickquid! I Thank you Woody , if it wasnt for this thread i'd not have known to complain!!
    Originally posted by w4nnabd3tfree
    How many loans etc have you had to get back 7k in fees etc ?
    • sourcrates
    • By sourcrates 31st Dec 15, 12:43 PM
    • 12,190 Posts
    • 11,650 Thanks
    sourcrates
    Great news w4nnabd3tfree.....christmas bonus....just seen a few posts popping up about people getting refunds paid back into there accounts from the money shop etc plus numerous other companies giving refunds too, so I think we were right to complain when we did.....no smoke without fire.....just had my final two complaints upheld by the ombudsman and the companies involved have agreed with there findings so just waiting for the refunds.....still waithing to hear back from another company which is not with the ombudsman and thats them all sorted, 9 companies in total...started the ball rolling at the end of May and hopefully should be all sorted by January, its taken along time but its been more than worth it in the end........
    Originally posted by woody53
    Woody,

    Have you had the actual loans that you borrowed refunded, or just the interest and charges you paid ?
    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/
    • woody53
    • By woody53 31st Dec 15, 1:20 PM
    • 28 Posts
    • 69 Thanks
    woody53
    From my experience you only get back the interest and any other charges like roll over fee's etc plus 8% interest from when you took the loans to when your claim is settled.....I can't speak for anyone else but if you go down the ombudsman route thats what they help you claim back not the initial loan amount......
    • sourcrates
    • By sourcrates 31st Dec 15, 1:28 PM
    • 12,190 Posts
    • 11,650 Thanks
    sourcrates
    From my experience you only get back the interest and any other charges like roll over fee's etc plus 8% interest from when you took the loans to when your claim is settled.....I can't speak for anyone else but if you go down the ombudsman route thats what they help you claim back not the initial loan amount......
    Originally posted by woody53
    Cheers, just seeking clarification !!
    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/
    • Mummyto4kids
    • By Mummyto4kids 31st Dec 15, 1:42 PM
    • 195 Posts
    • 110 Thanks
    Mummyto4kids
    I read this thread approx. one month ago and pinged a email off to Wonga - I had a succession of payday loans with them during my divorce and eventually a relative bailed me out on the final one because I was having to borrow more to repay them. At the time I was really struggling, but made every repayment on time bar 1 which was a day late when I was hospitalised.


    They replied within ten days saying they had reviewed my loan records file, my credit file and the way in which my pattern of borrowing had increased and they made me an offer of just over £2k, plus they'll remove 7 of the loans from my credit file as they recognise that at this point, based on their new affordability criteria these loans wouldn't have been affordable to me. They said the loans I had before that were classed as affordable as they were for lower amounts and weren't concurrently taken out.


    This amounts to all the interest on the 7 loans plus interest at 8%. I've just banked the whole lot into our savings account. It was paid into my account within 3 days of accepting their offer.
    Last edited by Mummyto4kids; 31-12-2015 at 1:43 PM. Reason: typo
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

4,584Posts Today

6,555Users online

Martin's Twitter
  • RT @LordsEconCom: On Tuesday Martin Lewis, Hannah Morrish & Shakira Martin gave evidence to the Cttee. Read the full transcript here: https?

  • Ta ta for now. Half term's starting, so I'm exchanging my MoneySavingExpert hat for one that says Daddy in big letters. See you in a week.

  • RT @thismorning: Can @MartinSLewis' deals save YOU cash? ???? https://t.co/igbHCwzeiN

  • Follow Martin