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  • FIRST POST
    • swalke52
    • By swalke52 30th Nov 17, 7:35 PM
    • 4Posts
    • 0Thanks
    swalke52
    Payday Loan - Credio Advice
    • #1
    • 30th Nov 17, 7:35 PM
    Payday Loan - Credio Advice 30th Nov 17 at 7:35 PM
    About 6 or 7 years ago I developed a severe Gambling addiction and had resorted to a lot of payday loans, glad to say that all is good now. I had made a few complaints to lenders about irresponsible lending as my credit file had 5 or 6 defaults at the time of applying for many of these loans, at that time though a credit check was not always carried out.

    I took a loan out with Credio around about the same time and had made a complaint regarding a defaulted amount as they have been sending me a lot of emails regarding CCJs and court appearances, I had not chased my original complaint as it was only 50 or 60GBP in defualt however I never received a response to my complaint. I received an email today to say they were filing a CCJ against me so I restarted and asked them why I had not received a response to my original complaint about irresponsible lending.

    This was their response:
    Dear xxxx,

    irresponsible lending- why did you even take out a loan with us if you are irresponsible?

    If you do not wish to pay us back that just say so, and we will proceed with online ccj application.

    Now I understand this may have been a disgruntled employee so I rightly emailed back saying that speaking to me in that way is not resolving the matter and re-iterated that I wanted a response to my original complaint, what happened next was utterly shocking - the below I received from them about 10 minutes ago:

    Dear xxx,

    At this moment we do not have enough manpower to deal with complaints from defaulted borrowers. It's people like you who are ruining our business when not paying back they're due but complaining about everything, starting from weather and finishing with complains about irresponsible lending. Something a 6 year old would say if you ask my personal opinion.


    If you have any further questions, comments or concerns, please email to

    Kind regards,

    Credio Team

    Credio | Cashbridge Corporation Ltd
    372 Old Street, Suite 167, London, EC1V 9LT, UK


    Any advice on what to do next, I am annoyed at this but I I would never expect a company that is registered in the UK to be allowed to speak to consumers like this.
Page 1
    • DCFC79
    • By DCFC79 30th Nov 17, 8:43 PM
    • 30,419 Posts
    • 19,230 Thanks
    DCFC79
    • #2
    • 30th Nov 17, 8:43 PM
    • #2
    • 30th Nov 17, 8:43 PM
    Any advice on what to do next, I am annoyed at this but I I would never expect a company that is registered in the UK to be allowed to speak to consumers like this.
    Originally posted by swalke52
    That means nothing and has no bearing on the situation.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • swalke52
    • By swalke52 30th Nov 17, 8:49 PM
    • 4 Posts
    • 0 Thanks
    swalke52
    • #3
    • 30th Nov 17, 8:49 PM
    • #3
    • 30th Nov 17, 8:49 PM
    DCFC79 - I was merely asking for advice apologies if I felt that this forum was the right place for advice.

    I fully accept that I should not have taken out the loan.

    The advice I am looking for here is that I never received a response to my complaint, I did receive an acknowledgement from them but not a final response for 12 weeks.

    When I then receive an email about a CCJ and I ask for an update on my complaint the above is what I received so my question is where do I stand now and what can I do now?

    The advice received so far is someone saying they hope my Christmas is ruined.
    • DCFC79
    • By DCFC79 30th Nov 17, 8:56 PM
    • 30,419 Posts
    • 19,230 Thanks
    DCFC79
    • #4
    • 30th Nov 17, 8:56 PM
    • #4
    • 30th Nov 17, 8:56 PM
    DCFC79 - I was merely asking for advice apologies if I felt that this forum was the right place for advice.
    Originally posted by swalke52
    Its the right place just don't see why you made the point.

    I understand your annoyed with the attitude of the person who replied, having never dealt with Credio I cant say if its normal for them but its not a normal response to get.
    Can people stop loaning money/being a guarator to family/friends, it rarely ends well and you lose out as your money is gone or you get shafted with being a guarantor.
    • keepcalmandstayoutofdebt
    • By keepcalmandstayoutofdebt 30th Nov 17, 9:15 PM
    • 2,932 Posts
    • 1,523 Thanks
    keepcalmandstayoutofdebt
    • #5
    • 30th Nov 17, 9:15 PM
    • #5
    • 30th Nov 17, 9:15 PM
    In this day and age, if they use a ticket system and particularly if have set to solved - then with any luck in a couple of days you'll may get an email follow up asking for feedback...

    It might make someone rethink to receive feedback, unless they are the boss.

    I used to know someone 15 years in a customer service job who couldn't write emails resorting to blunt one liners - the company would actually cringe at the responses if truth were known - and that wasn't regulated so I hope you do take this further. Though I am sure it's why ultimately some types of these companies just don't bother email replying and might be this public thread is as good as it gets.

    Maybe get this thread moved to praise and vent board. Customer Service is a responsibility, for all those mis-informed that it has no bearing.
    "If you are caught in a rainstorm, once you accept that you'll receive a soaking, the only thing left to do is enjoy the walk"
    • Tarambor
    • By Tarambor 1st Dec 17, 12:01 PM
    • 1,756 Posts
    • 1,202 Thanks
    Tarambor
    • #6
    • 1st Dec 17, 12:01 PM
    • #6
    • 1st Dec 17, 12:01 PM
    When I then receive an email about a CCJ and I ask for an update on my complaint the above is what I received so my question is where do I stand now and what can I do now?
    Originally posted by swalke52
    You owe the money. You either make an arrangement to pay or they get a CCJ. You can try the irresponsible lending route but at best you'll get the interest knocked off and you'll still owe the principle sum and for such a piddling amount as £50 its not worth the time or money bothering.

    Whilst their customer service is dire I can kind of understand why the response was sent. You only have to look through this and the Credit File board to see countless posts of people who were quite happy to take the money deciding after the event that repaying more than you borrowed in interest was a bit daft and expecting to be compensated for that.
    Last edited by Tarambor; 01-12-2017 at 12:04 PM.
    • fwor
    • By fwor 1st Dec 17, 1:12 PM
    • 5,889 Posts
    • 3,937 Thanks
    fwor
    • #7
    • 1st Dec 17, 1:12 PM
    • #7
    • 1st Dec 17, 1:12 PM
    I have to agree that it's terrible Customer Service, but you have to bear in mind that there is nothing illegal about being rude to your customers! If they have decided that they don't want you as a customer in future, perhaps they don't care about being rude to you?

    I confess that I'm puzzled too by this phenomenon of "irresponsible lending". It's always seemed irrational that it's Ok for a seller to sell you an item or service that you can't afford, and we don't (yet) have an epidemic of "irresponsible selling" claims, but it's not Ok for a lender to lend you the money to buy something that you can't afford...
    • swalke52
    • By swalke52 1st Dec 17, 1:43 PM
    • 4 Posts
    • 0 Thanks
    swalke52
    • #8
    • 1st Dec 17, 1:43 PM
    • #8
    • 1st Dec 17, 1:43 PM
    You owe the money. You either make an arrangement to pay or they get a CCJ. You can try the irresponsible lending route but at best you'll get the interest knocked off and you'll still owe the principle sum and for such a piddling amount as £50 its not worth the time or money bothering.

    Whilst their customer service is dire I can kind of understand why the response was sent. You only have to look through this and the Credit File board to see countless posts of people who were quite happy to take the money deciding after the event that repaying more than you borrowed in interest was a bit daft and expecting to be compensated for that.
    Originally posted by Tarambor
    I agree it was daft and I am not excusing that, however for those that have never lived with any kind of addiction will not understand the lengths people can and do go to to fund/fuel that addiction.

    I work now with other gamblers as a Councillor and I have seen first hand what it done to me and has done to others, so to simply say that I was irresponsible is a very blanket accusation, for the many others that I work with and support I take a very supportive and understanding stance.

    Regarding it only being £50, you are correct however looking back I borrowed over the course of 12 months totaling £3100 principle, I have paid this back with the exception of the £50 mainly because this was when I started to see the light and having paid as much as I had paid back in Interest I know I should stop. It is also important to know that over the course of the 12 month period with a total of 12 loans only 1 credit check was carried out which was at the start of my agreement, every subsequent month was based on borrowing history/repayments.

    e.g - I would borrow £500 pay back £650 and then borrow £650 and so on so forth, to me this does not seem like responsible lending when people were at the time allowed to do that.

    You may disagree with most of my points but putting out blanket statements like I have seen here on this thread about it being users sole responsibility is not fair.

    I am in a very good position now and have a good job, no addiction and use my experiences to help/support others, that is far more rewarding to me. I would feel sorry for those people who are now on the straight and narrow and looking for advice coming here and hearing some of the remarks made, from my own experience it would make people feel worse, go into their dark place and potentially re-trigger an episode of addiction.

    If you have nothing to add around my overall situation and the advice I was looking for then please don't post.
    • sourcrates
    • By sourcrates 1st Dec 17, 3:16 PM
    • 12,694 Posts
    • 12,033 Thanks
    sourcrates
    • #9
    • 1st Dec 17, 3:16 PM
    • #9
    • 1st Dec 17, 3:16 PM
    Before some regulation was introduced, lots of these "fly by night" companies would lend money to anyone, regardless of their ability to repay it, and charge hugh amounts of interest and fees, especially for non or late payment.

    In-fact they relied on a good number of defaulters so they could rack up the fees and interest they charged, that's how they made so much money in such a short space of time.

    Lending to someone they know will not be able to afford the repayments, that's what defines irresponsible lending, and yes the borrower shares that responsibility, but if your desperate, and someone throws money at you.........you take it.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    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/
    • Tarambor
    • By Tarambor 2nd Dec 17, 4:51 PM
    • 1,756 Posts
    • 1,202 Thanks
    Tarambor
    It is also important to know that over the course of the 12 month period with a total of 12 loans only 1 credit check was carried out which was at the start of my agreement, every subsequent month was based on borrowing history/repayments.

    e.g - I would borrow £500 pay back £650 and then borrow £650 and so on so forth, to me this does not seem like responsible lending when people were at the time allowed to do that.
    Originally posted by swalke52
    I'm failing to see the problem and where the irresponsibility on their behalf was. You had shown yourself to be a good customer who repaid what they borrowed. My credit card companies do the same with me, giving me a higher and higher credit limit because I have a good record of use. Are they lending irresponsibly? No. Does it cause me an issue? No because I exercise this seemingly increasingly rare thing called personal responsibility so only spend what I know I can afford to repay.
    • sourcrates
    • By sourcrates 2nd Dec 17, 6:02 PM
    • 12,694 Posts
    • 12,033 Thanks
    sourcrates
    I'm failing to see the problem and where the irresponsibility on their behalf was. You had shown yourself to be a good customer who repaid what they borrowed. My credit card companies do the same with me, giving me a higher and higher credit limit because I have a good record of use. Are they lending irresponsibly? No. Does it cause me an issue? No because I exercise this seemingly increasingly rare thing called personal responsibility so only spend what I know I can afford to repay.
    Originally posted by Tarambor
    In a lot of cases these lenders did take advantage of the vulnerable, who by definition, find these loans hard to resist, by deliberately loaning more and more money without due diligence to see if they can afford the repayments or not.

    That is the main issue with this type of product, few, or no checks on affordability, in many cases the lenders have granted credit in situations mainstream lenders would of declined it, just to make a profit, hopefully the better regulation that now exists will stop this problem.

    You cant put all the blame on the borrower, desperate people do desperate things, the lender must share the responsibility in a lot of cases, there were always going to be these type of problems with this kind of product due to the nature of the business.

    Its no surprise to me that we are where we are with it now.
    Last edited by sourcrates; 03-12-2017 at 1:18 PM.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    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/
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