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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.
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    • sefton
    • By sefton 6th Apr 17, 4:54 PM
    • 81 Posts
    • 21 Thanks
    sefton
    what's worse is that I am due back just over £2k from them and doesn't look like I will see any of it
    Originally posted by payable1986
    They had to contact all the customers "they were going to pay" redress to by the end of March. I guess this was always their end game. Forget about it and move on.
    • Bluetonic123
    • By Bluetonic123 6th Apr 17, 9:30 PM
    • 39 Posts
    • 30 Thanks
    Bluetonic123
    I was due £40 apparently. Not a lot but my financial state is dire at the moment. I am determined not to touch payday loans again though. Hopefully something will come through from the ombudsman soon though, I first complained on 31st August.
    • Bluetonic123
    • By Bluetonic123 7th Apr 17, 12:04 AM
    • 39 Posts
    • 30 Thanks
    Bluetonic123
    I have just submitted what I think will be my final complaint to Peachy loans. I find doing these quite emotional as it takes me back to the time when I would spend every payday frantically reborrowing as all my wages were used up immediately in repayments so I have done them in stages. I would love to significantly reduce my debt and on the path to financial security. Fingers crossed.
    • List Maker
    • By List Maker 7th Apr 17, 9:57 AM
    • 34 Posts
    • 10 Thanks
    List Maker
    Getting there with all my cases, as it seems are a few more of you!
    Since I started the complaints procedures back in Oct 16, this is where I am at:
    PDUK -Adjudicator level, settled at £800 ish paid 4 weeks from providing details.
    PDE - Adjudicator level, settled at £250 ish paid 2 weeks from providing details
    QQ - Adjudicator level, settled at £600, awaiting payment(agreed 2 days ago)
    LS - with ombudsman. Adjudicator decided 27/34 were unaffordable, if Ombs agrees looking at £6500 to come back.
    Wonga - still awaiting for 8 week period to end and a final response. Found they have dragged their feet the most. 67 loans on this complaint, so the biggest one.

    All the companies I settled with were within +/- £100 of what I was expecting. Can't quite believe it really.
    This whole process is life changing. All the money I am getting back is going to a lifetime ISA/ savings so I can start to build up a deposit for a house. As most pdl's have fallen off or are being taken off my credit file my scores are getting better and can actually look to getting a decent mortgage in the next few years!

    Keep going everyone!!
    • scoxhill85
    • By scoxhill85 7th Apr 17, 10:40 AM
    • 6 Posts
    • 0 Thanks
    scoxhill85
    Can someone explain the CFO Lending thing to me. I thought that them saying they can't pay the dividend meant that they wouldn't be paying back the extra tax incursion on top of what we are owed, but are they actually saying that they can't pay us back the sum they are saying we are entitled to?
    • payable1986
    • By payable1986 7th Apr 17, 10:48 AM
    • 4 Posts
    • 0 Thanks
    payable1986
    That's exactly what I read from it. Its the part where it gives you the figure owed then goes on to say we haven't got the funds to pay you. Ive sent off the debt form to the administrators as my claim is over the £1000 benchmark, claim is £2237.40 and this was all from a £200 loan where they wiped my bank account. Will see what happens over the next few months but not getting my hopes up!
    • sefton
    • By sefton 7th Apr 17, 11:37 AM
    • 81 Posts
    • 21 Thanks
    sefton
    Can someone explain the CFO Lending thing to me. I thought that them saying they can't pay the dividend meant that they wouldn't be paying back the extra tax incursion on top of what we are owed, but are they actually saying that they can't pay us back the sum they are saying we are entitled to?
    Originally posted by scoxhill85
    The administrator says you will have to wait until June to find out for sure. I say don't expect to get a penny.
    • scoxhill85
    • By scoxhill85 7th Apr 17, 12:20 PM
    • 6 Posts
    • 0 Thanks
    scoxhill85
    I think I should probably be owed more but I've just stuck with the amount they're giving me and hoping to get anything! I emailed them yesterday as felt it was suspicious they hadn't mentioned when this would be paid by. I got an email this morning simply stating the same thing about the dividends. Dividends is not the money they owe though surely??? I have just sent emails to all my other payday loan companies from over the years as I've never actually done it. This was only because they contacted me. Has anyone had experience with other companies? x
    • sefton
    • By sefton 7th Apr 17, 2:24 PM
    • 81 Posts
    • 21 Thanks
    sefton
    I think I should probably be owed more but I've just stuck with the amount they're giving me and hoping to get anything! I emailed them yesterday as felt it was suspicious they hadn't mentioned when this would be paid by. I got an email this morning simply stating the same thing about the dividends. Dividends is not the money they owe though surely??? I have just sent emails to all my other payday loan companies from over the years as I've never actually done it. This was only because they contacted me. Has anyone had experience with other companies? x
    Originally posted by scoxhill85
    If you had made a complaint and it was upheld you would have been due a sum that was probably greater than the amount due to you from the redress scheme. CFO have ostensibly been rolling over when it comes to upholding their former customers complaints in recent months. They must have been laughing on the other side of their face.

    It now seems there are thousands like you who had no intention of making a claim but were contacted and told they had a sum of money coming only to have their raised hopes dashed. Very sad.
    • Sadie23
    • By Sadie23 8th Apr 17, 9:10 AM
    • 55 Posts
    • 95 Thanks
    Sadie23
    My journey is over!
    Happy news for me this week! Received my decision from Ombudsman, agreeing wholly with my Adjudicators findings to uphold complaints for all loans with QQ.


    I first complained to QQ on 1st of September 2016 - so this has taken a fair few months. But so pleased that its finally ending, I have accepted the decision via email and now awaiting to hear back from FOS or QQ I guess about payment?


    Can anyone let me know what happens next? eg, timescales, who to hear from next ect?
    Originally posted by Sadie23

    At 10pm last night my inbox was flooded with refund processing emails from QuickQuid, with the money following 20 minutes later.


    Happy to say I was refunded £4128, and this along with my Wonga refund of £2547 means in total I've got back £6675 from these companys who made my initial years of adulthood an absolute disgrace financially! Excited to stop using my overdraft, put some more money in my savings and have the reassurance I can pay of my credit cards when the 0% ends!


    I would never have known I could do this without stumbling across this thread, so thank you to Woody for starting it and everyone else who have shared their own stories and successes on the way.


    Happy Saturday!
    • tibawo
    • By tibawo 8th Apr 17, 10:20 AM
    • 1,047 Posts
    • 9,153 Thanks
    tibawo
    Congrats. I have not heard anything yet. I may ring next week. Are they supposed to keep you updated? I have heard nothing from them not even to say I was assigned an adjudicator.
    2017- No clutter to be seen : my aim 33min 37 sec a week.
    My ten pound weekly challenge - weeks completed 3/52 missed target 1
    • Sadie23
    • By Sadie23 8th Apr 17, 11:00 AM
    • 55 Posts
    • 95 Thanks
    Sadie23
    Happy news for me this week! Received my decision from Ombudsman, agreeing wholly with my Adjudicators findings to uphold complaints for all loans with QQ.


    I first complained to QQ on 1st of September 2016 - so this has taken a fair few months. But so pleased that its finally ending, I have accepted the decision via email and now awaiting to hear back from FOS or QQ I guess about payment?


    Can anyone let me know what happens next? eg, timescales, who to hear from next ect?
    Originally posted by Sadie23
    Congrats. I have not heard anything yet. I may ring next week. Are they supposed to keep you updated? I have heard nothing from them not even to say I was assigned an adjudicator.
    Originally posted by tibawo

    I was initially emailed by my first adjudicator asking for bank statements ect... however, I was then ignored for a while and called up because I didn't know what was going on. The adjudicator I spoke to on the phone then took on my case as previous person was changing departments and it all went smoothly from there but still took Nov-Apr for it to be resolved via FOS. I understand my case may have been handled quicker than others, it depends on how complex your case is I imagine.
    • bamgbost
    • By bamgbost 8th Apr 17, 2:56 PM
    • 208 Posts
    • 63 Thanks
    bamgbost
    Since I started the complaints process, this is where I am at:

    PDUK -Adjudicator level, settled at £1000 ish paid 1 week from providing details.
    MoneyShop - Adjudicator level, settled at £1400ish paid 1 week from providing details
    Wonga - Foolishly in a hurry accepted their offer for £1500. I should have pursued it further. It was my first claim and response. - Big Mistake here in hindsight!! (Cos I took a cumulative loan totally more than all the others!)
    ChequeCentre- with ombudsman. Adjudicator decided they were unaffordable but business didn't. if Ombs agrees looking at £1,500 ish to come back.
    CashConverters - Received final response. Just forwarded to the Ombudsman this week.
    Loans2go - Just written to earlier this week.
    • RightyTightyLeftyLoosey
    • By RightyTightyLeftyLoosey 9th Apr 17, 5:37 PM
    • 302 Posts
    • 862 Thanks
    RightyTightyLeftyLoosey
    Glad I've found this thread - I took out 1 PDL in 2009 (when my Dad had cancer, and I was paying carers to come in during the day when I was at work). I struggled to get out of the trap and rolled/refinanced over 30 times at least (there are 30 showing on my credit file).

    Eventually took out a 'loan' with Pounds to Pocket to get rid of it - in 2014.

    All of this is messing up my credit file - I never defaulted, just took me years to get out of it, but this is what these companies want. I'm on a even keel now but I'm going to chase these people down, they almost ruined my life.

    Asked PDUK and P2P for SOA today (I have all the emails from the loans saved, so will escalate to a complaint within 10 days if I don't hear back), then go to the Adjudicator bang on 8 weeks.

    Thanks to everyone for all the detail on here, it really helps.
    Last edited by RightyTightyLeftyLoosey; 09-04-2017 at 6:02 PM.
    • Bluetonic123
    • By Bluetonic123 10th Apr 17, 12:00 PM
    • 39 Posts
    • 30 Thanks
    Bluetonic123
    I just called for another update and apparently Quickquid sent the FOS details of loans older than 6 years so they thought there were timeline issues but I only complained about the ones that were less than 6 years old.

    I am a bit annoyed as this has delayed things (I complained to Quickquid in August 2016) but the man I spoke on the phone was nice and he has agreed to pick up the case and will call me in a couple of days.

    If anyone else has been waiting a long time it might be worth checking this hasn't happened to you.
    • Bluetonic123
    • By Bluetonic123 11th Apr 17, 4:21 PM
    • 39 Posts
    • 30 Thanks
    Bluetonic123
    I just received a very quick offer from peachy. They aren't admitting liability but offered 144 and removal of data from credit file for me to go away. I was tempted but I paid around £700 in interest so with 8% I could get a lot more. They did say I could ask them to reconsider my complaint so I did, pointing out that I often reloaned on the same day that I repaid.

    I have decided that if they come back with an offer of around 400 I will accept as I'm in a tight spot and that much would make a difference to it.

    Otherwise I will go to the ombudsman
    • Bluetonic123
    • By Bluetonic123 12th Apr 17, 11:48 AM
    • 39 Posts
    • 30 Thanks
    Bluetonic123
    I feel like I am talking to myself here :-)

    But Peachy have come back with the same offer of £144.50 and I feel that I have to accept as I have no money this month. It is better than a kick in the teeth and will help me out of a tight spot. I do feel I could have got more though.
    • List Maker
    • By List Maker 12th Apr 17, 2:21 PM
    • 34 Posts
    • 10 Thanks
    List Maker
    Payment Timing
    I've been following this thread for a while now and complained to all my payday companies around the 2nd of January.

    All have been deferred to ombudsman due to no offer or response being made in the 8 weeks but today - before the FOS could get involved- Wonga emailed me back.

    From my SOA I worked out that if they refunded all loan interest plus the 8% compounded I'd be looking at a healthy 2.3k give or take.

    They just offered me 3.4k. Something mystical has happened! You can be damn sure i ran off accepting that. I must have miscalculated somewhere but very very nice surprise! Hopefully expecting about another 1000 or so from the other companies to come.
    Originally posted by Dogdays12
    Hey, I've just had some good news from Wonga as well regarding my refund, about £200 under what I calculated but this can be gained back by having the money now rather that in a years time once its gone to Ombs from putting it in a LISA and gaining the 25% top up and interest on it.

    Just wondering if you have actually received the money yet, not sure if they are going to make people wait the full 28 days or pay earlier like some of the others?
    • silolz0rz
    • By silolz0rz 16th Apr 17, 12:55 PM
    • 19 Posts
    • 4 Thanks
    silolz0rz
    Quick question,

    I've got a 3 reference numbers for Financial Ombudsman. Do i just wait for a phone call/email back from them or are we supposed to call them with the reference number in a few weeks?
    • Bluetonic123
    • By Bluetonic123 18th Apr 17, 5:16 PM
    • 39 Posts
    • 30 Thanks
    Bluetonic123
    Just on the off-chance I called to check up on a 247moneybox claim that I put in a couple of months ago. It turns out they were waiting for me to send in my final response, even though I already had done. So 2/4 of my claims with them were delayed because of FOS mistakes.

    If you have been waiting a while I would give them a call if I were you just in case something like this has happened.
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