Reclaiming money back from various payday loan companies

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.

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  • MSE_ForumTeam1
    MSE_ForumTeam1 Posts: 323
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    Official MSE Forum Team member.

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  • fatbelly
    fatbelly Posts: 20,342
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    Loud and clear...
  • sourcrates
    sourcrates Posts: 28,647
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    What have you done with woody ?

    Buzz won`t be pleased.........
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing [email protected]. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • rigare11a
    rigare11a Posts: 101
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    I wish I could remember who loaned to me, I think I had about 6 - 7 at one time, borrowing one to pay another etc. It was a complete mess. I remember one being Wonga but I think they went bust. I can't remember any others and they are now long gone from my credit history
    Very (Shopping) £796.16 Paid in FULL as of 17/08/2021
    Simply Be £1463 £1432  £1195.13 £801.02  £645.24 Paid in FULL 30/09/2021
    Likely Loans £2465.73  £2191.76  £1917.79 Paid in FULL May 2022


    Overdraft £500 Paid in FULL Jan 2023
    PayPal Credit £566.53 Paid in FULL Jan 2023


    Total debt £5824.89 at the very start of DFW Journey.
    Current debt £5,028.73  £4997.73 £4384.31 £3990.20 £3823.06 £2260.37 £1066.53 £0.00



    Debt added since start of journey £9000 (borrowed from partner for car) 
    Current balance of £8550 £8150  Paid in Full June 2022

    My debt free diary:
    https://forums.moneysavingexpert.com/discussion/6291011/debit-free-diary-starting-august-2021-target-may-2022#latest
  • I have been a serial payday loan victim for over 10 years. In the beginning having up to 13 up and running concurrently. Plate spinning every month to refinance.

    Anyway, I think I've claimed all I can now. Those from over 6 years ago just got away with it, some companies just disappeared.

    I am annoyed with accepting Lending Stream's derisory settlement when I was younger and more naive. It was just after Wonga had gone bust and I was absolutely wrongly convinced LS would follow them in days - so I accepted what they offered.

    My best refund was on a rolling credit facility from SafetyNet. Many, many thousands refunded without even a quibble.


    Leap Day 2024 - the day of freedom. The day my pernicious debts finally died.

    Legacy Default dates :
    Mr Lender - 31/10/2022
    Fund Ourselves - 22/12/2022
    Bamboo - 30/3/2023
    Likely Loans - 14/4/2023
  • olaf2014
    olaf2014 Posts: 71
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    Hi uuse seen this can I ask how u did this was it just a email to say it was irresponsible lending? How far back can u go?
    A family member fell in to the trap borrowing one to pay the other for a while.
    Been hiding under a rock for that last few years hoping it will go away but it doesn't now is the time for the rocket 🚀 I want to be no I need to be debt free Debt free #45 £5.50- £500 1p challenge £47.19 - £667.95 (Doing this in a random order). £5 a day Jan - total £103.37 (short but only way is up£5 a day Feb - total £19.13. Debt free by march 2025 (if pay mins)
  • ITL89
    ITL89 Posts: 14
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    I've managed a couple of successful reclaims, but the problem is remembering who I had used and borrowed from.
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