Student loans and pensions

Final update for you guys. I started this process 12 months ago almost to the day. Today I received a call from the FOS adjudicator on my final complaint, against Peachy Loans (CASHONGO).


In their final response to me, Peachy threatened to report me for 'Application Fraud' if I pursued my complaint. It took me a while to decide what to do, but in the end I decided that their threat was not fair and that the FOS wouldn't look kindly on it.


The adjudicator informed me that he is upholding my complaint for 8 out of the 12 loans I had with them, which I agreed was fair.


The adjudicator had not yet decided how to treat their threatening language. His heart said they should compensate me, however his head says that he needs to seek further advice from his colleagues as he has not seen anything like it before.


It won't be a big pay out, but its better in my pocket than theirs, plus its cost the scum an extra £550 in FOS charges.


This has been a long process, but if anyone is still questioning whether they should or not, my advice is DO IT!

Ginger.ice wrote: »

Final update for you guys. I started this process 12 months ago almost to the day. Today I received a call from the FOS adjudicator on my final complaint, against Peachy Loans (CASHONGO).


In their final response to me, Peachy threatened to report me for 'Application Fraud' if I pursued my complaint. It took me a while to decide what to do, but in the end I decided that their threat was not fair and that the FOS wouldn't look kindly on it.


The adjudicator informed me that he is upholding my complaint for 8 out of the 12 loans I had with them, which I agreed was fair.


The adjudicator had not yet decided how to treat their threatening language. His heart said they should compensate me, however his head says that he needs to seek further advice from his colleagues as he has not seen anything like it before.


It won't be a big pay out, but its better in my pocket than theirs, plus its cost the scum an extra £550 in FOS charges.


This has been a long process, but if anyone is still questioning whether they should or not, my advice is DO IT!

Hmmmmm, this was something that concerned me also as I would have to say my I&E on applications was not entirely honest, however I have read some FOS decisions where the ombudsman has made it clear that whilst they do not condone this sort of thing, the lender should not rely solely on someone's word, especially if there's an inclination they could be in a desperate (i.e. mitigating) situation.


I think the PDL'S are trying to hide behind the I&E statements but the truth is they only paid lip service to it anyway probably knowing applicants would provide "inaccurate" statements to help them get the loan and from what I've seen the FOS is saying whilst in the early applications it was fair enough for them to rely on this, when repeat borrowing or roll overs occurred they should have at the very least re-visited this and asked for proof of I&E (e.g. bank statements, pay slips etc.)


Well done for not bowing to the threat and pursuing them.

I think that is part of their stock response to people. Here is part of what they said in their final response to me:

"Additionally we can confirm that based on the information you provided us you should have had more than enough disposable income to cover your monthly repayments. In case the provided information was incorrect, then you would be responsible for providing us with false information and this may be reported as application fraud to relevant authorities."

So I wouldn't worry too much about what they say if you still feel you have a good case. They turned mine down as did the adjudicator but I only had one loan with them so I wasn't really too surprised by that.

*Edit* I thought I'd send the adjudicator an email just now to see what she thinks about it!

Just checking in, nothing really to report. Had a message left on answerphone by adjudicator to say she has all of the info she needed so no need to talk to her. This was a couple of weeks ago....worth a call to see how it's going or leave it? Tbh I want to ask her opinion as my credit report doesn't show ANY of the Wonga loans (thankfully all on bank statements, which she has) and I have no idea when they were removed, will it make any differecnce? Why have they removed them and not told me??

It's lovely to see all the updates and successes that other posters have had.

sacha28, let your Adjudicator get on with your complaint, be patient as it does take time, however I am sure you will be compensated.:cool: