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  • FIRST POST
    • woody53
    • By woody53 17th Jul 15, 9:32 PM
    • 27Posts
    • 64Thanks
    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 107
    • Starzy
    • By Starzy 10th Oct 16, 9:17 AM
    • 14 Posts
    • 8 Thanks
    Starzy
    Just after some advise please guys, the FOS ruled in my favour regarding loans I had with QQ. They had until today to respond and I've heard nothing since. Do I need to do anything else like chase the FOS or do I just leave it to them?
    • Delete33
    • By Delete33 10th Oct 16, 10:54 AM
    • 792 Posts
    • 464 Thanks
    Delete33
    Leave your Adjudicator to get on with what needs to be done, the FOS often give QQ extra time to act.starzy just have to be patient.
    • Ginger.ice
    • By Ginger.ice 11th Oct 16, 11:49 AM
    • 99 Posts
    • 135 Thanks
    Ginger.ice
    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!
    • Delete33
    • By Delete33 11th Oct 16, 11:53 AM
    • 792 Posts
    • 464 Thanks
    Delete33
    Great positive post Ginger.ice, well done for continuing your complaint against a vile PDL.
    • cashburner
    • By cashburner 11th Oct 16, 12:15 PM
    • 42 Posts
    • 64 Thanks
    cashburner
    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!
    Originally posted by Ginger.ice



    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.
    • Delete33
    • By Delete33 11th Oct 16, 12:21 PM
    • 792 Posts
    • 464 Thanks
    Delete33
    We all know the PDL were targeting customers who could not get loans from Banks etc, the Financial crisis opened the door for these Predators.
    Checks on customer finances were not a priority, selling high cost loans was their priority, trapping customers in a never ending cycle of loan Rollovers.
    • Adamsssss
    • By Adamsssss 11th Oct 16, 12:27 PM
    • 93 Posts
    • 125 Thanks
    Adamsssss
    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!
    Last edited by Adamsssss; 11-10-2016 at 12:38 PM.
    • bilko89
    • By bilko89 11th Oct 16, 12:41 PM
    • 111 Posts
    • 251 Thanks
    bilko89
    Hi folks, I've had a multitude of Payday loans, stuck in the cycle you are all talking about for the last few years.

    I had my LBM and stopped and have started repaying all of my creditors. Today, I owe £1,158 to payday loan companies alone. They have agreed to freeze the interest and I have repayment plans in place to clear the balances I have.

    Some of the accounts however are currently with Debt Collectors, would this affect any of my claims?

    At the moment, there are 7 companies I have plans in place for but there have been many more in the past who were part of the "payday loan cycle" I found myself in.

    Would I have a case?
    • sacha28
    • By sacha28 11th Oct 16, 12:42 PM
    • 710 Posts
    • 1,109 Thanks
    sacha28
    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.
    • Delete33
    • By Delete33 11th Oct 16, 12:47 PM
    • 792 Posts
    • 464 Thanks
    Delete33
    Bilko89, your complaint is with the original lender, so get complaining, you have nothing to loose and it can all be done by e-mail. Read up on the DebtCamel and FOS websites, you may clear your outstanding debts with these Predators.
    • Delete33
    • By Delete33 11th Oct 16, 12:49 PM
    • 792 Posts
    • 464 Thanks
    Delete33
    sacha28, let your Adjudicator get on with your complaint, be patient as it does take time, however I am sure you will be compensated.
    • bilko89
    • By bilko89 11th Oct 16, 1:48 PM
    • 111 Posts
    • 251 Thanks
    bilko89
    Bilko89, your complaint is with the original lender, so get complaining, you have nothing to loose and it can all be done by e-mail. Read up on the DebtCamel and FOS websites, you may clear your outstanding debts with these Predators.
    Originally posted by Delete33
    Thanks Delete! I have used the template asking for my statement of accounts for all payday loans I have had, recent and old!

    What happens with the agreements I have in place atm to pay back, should i continue to pay them?
    • Delete33
    • By Delete33 11th Oct 16, 1:51 PM
    • 792 Posts
    • 464 Thanks
    Delete33
    Hi bilko, you can continue to pay if you wish, you also have the option to freeze payment while the account is in dispute, no interest can be added while the account is in dispute.
    • bilko89
    • By bilko89 11th Oct 16, 2:07 PM
    • 111 Posts
    • 251 Thanks
    bilko89
    Thanks! Don't want to stop paying, have complaint rejected, and then they play hardball with repayments! Emails are all out as I said, even had one of them just try to call me (which I ignored since I'm at work) so they have obviously saw the email.
    • tonymcp86
    • By tonymcp86 12th Oct 16, 2:36 PM
    • 30 Posts
    • 17 Thanks
    tonymcp86
    Hi
    Do companies usually take their time with Statement requests?
    Put mine in with Wonga, just not sure how long to wait before chasing etc?

    Thanks
    • cashburner
    • By cashburner 12th Oct 16, 6:21 PM
    • 42 Posts
    • 64 Thanks
    cashburner
    Hi tonymcp,

    From what I gather Wonga are notoriously slow at doing anything!

    They tried to block my complaint as they said they couldn't locate any accounts which is just nonsense and I told them so! Still to see a SOA from them but I just complain anyway using info from bank statements and credit files but adding in that I expect them to conduct a full review of all loans granted.

    When it gets to FOS they'll have to supply it to them anyway but if they make me an offer before I see it I'll refuse to consider it until I see the SOA.

    Yeah I'm impatient 😂😂 & just like to the ball rolling anyway
    • MikeMouse
    • By MikeMouse 12th Oct 16, 7:20 PM
    • 86 Posts
    • 40 Thanks
    MikeMouse
    Just starting now .....
    HI,

    Today I am totally free of all debt - bar my mortgage which is up to date - having paid off every penny I owe in full. It took me 2 and a half years of scrimping and saving to do it.

    I got into a mess a few years ago and took out multiple pay day loans to keep me going. I estimate I had as much as £25K over 3 years and probably paid about £7K in interest and penalties etc etc.

    I have today written to the three companies involved asking for a list of all dates, loans, interest and penalties paid.

    Looking back now a bit older and wiser I reaslise that at the time I got all those loans I had a CCJ on my credit file, £6K on a credit card, mortgage arrears and a poor history with my bank. Theyshould also have been aware that I had multiple payday loans with other companies when approving me as they all showed on my credit file.

    I should never have been approved for these loans. In addition I had payday loans handed over to collection agancies - I paid the collection agencies in full plus their fees - and then still got further loans from the same companies.

    No lectures required please - I know I was foolish back in the day.

    I will let you know how I get on and thanks to all who have posted so far, it will help me when I submit my complaints.
    • Delete33
    • By Delete33 12th Oct 16, 8:35 PM
    • 792 Posts
    • 464 Thanks
    Delete33
    No lectures on here MikeMouse, positive and informative posts in abundance, good luck in your quest.
    • sacha28
    • By sacha28 12th Oct 16, 9:36 PM
    • 710 Posts
    • 1,109 Thanks
    sacha28
    HI,
    No lectures required please - I know I was foolish back in the day.
    Originally posted by MikeMouse
    No lectures or judgment here, this is a thread for support and advice from people who are/have been caught up in the vicious cycle of PDL's. Some lost more than others, some had few loans, some had many. We've all been there
    • stuart30
    • By stuart30 13th Oct 16, 2:07 PM
    • 335 Posts
    • 136 Thanks
    stuart30
    Just phoned FOS to get update on Wonga complaint and told its only just gone to adjudicator on 7th september...so still very early days.

    Really you stated previously that eight weeks was a signicant amount of time...gotta love how they can twist time scales to suit them.
    Last edited by stuart30; 13-10-2016 at 2:17 PM.
    Save the wear and tear on your keyboard and don't waste your time correcting my spelling or Grammar...
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