DMP & Mutual Support Thread - Part 10

Kate_fixing_it

MB's case was very specific. He was humiliated in public by the lender (repeatedly) and asked for help but was refused and encouraged to take more loans. IMO he had a very clear case that they'd done wrong.

I think there are going to be big changes to PDL legislation coming. The FOS appear to be starting to scrutinise them and potentially this could be as big as PPI reclaiming. I think they don't check enough, if they had they'd see I clearly was reloaning a vast sum each month and treating them as a long term solution but it's really up to the FOS as to who is at fault.

I'm ashamed that I did it but we all make mistakes and I've learned from mine. I did benefit from cash borrowed (we could eat!) but there were better routes I could have talen and I wouldn't be as deep in the mire if it wasn't for them.

The waters are still muddy here and there are going to be arguments for both sides. Yes, there's always that little sentence "this is not long term lending" but we're human and in that moment when the adrenaline is pumping and someone is offering you a chance to have an immediate solution to the lack of food in the fridge you don't think straight. Have a look at the FOS website or give them a call for advice. I don't think anyone here ca really say either way. We've all checked the "terms and conditions" box without reading - the world's greatest lie after "the cheque is in the post".

Kate x

Monkeyballs

Morning Ghost,

In the end, with Cheque Centre they just apologised re. being totally ignored and humiliated... The refund of charges was for the fact that I had borrowed between £750 and £1000 every month for the same day for almost 3 years

At the same time though I have also put in a complaint with Money Shop because I'd been loaning as much as possible from them continuously also for the same period of time (just smaller amounts, £300 - 350) and when I walked past the shop in town I started to chat to one of the staff and I told them this and they still asked me to come in to see if I could loan!

Most recently I have posted a complaint to Provident (which I regret doing) because again I was borrowing larger and larger amounts every 8 months or so (so when I was either half way of 2/3's of the way through my old loan and using it to repay my outstanding balance and although I had to declare I&E the agent would suggest lower amounts so it looked ok on the books... Every time, maybe a third of the new loan would go straight back in his pocket and I was paying more and more and more interest!

I'm reasonably optimistic about Money Shop, less so about Provident which really I wanted to maintain responsibility for hence why if they laugh in my face I don't mind, I doubt they'd start to refuse my DMP payments though as they can't have what I don't got

I think if you made a claim you'd really have to have had loans rolling over and over for months on end (even Cheque Centre kept the first 5 months interest), I'm not sure that anyone (myself included) would have much success with any mental issues caused although it could be added to the complaint for flavour on top of making it clear that you were in and it worsened your financial hardship...

As for not checking income & expenditure, I think in branch they should be responsible but online then the onus is on the customer to provide accurate information... But that's just my thoughts on the matter.

Bottom line is, you don't really have anything to lose I guess but I'd suggest looking to try one or two who you feel most confident about to test the waters.

Hope this helps?

MB of G x

Monkeyballs

Oh...

I should add that I had numerous loans with a dozen or so other Payday lenders all for irregular amounts and normally with several month gaps between them.

I wouldn't think to claim on these because although they would deepen the hole I was in I was still just borrowing as and when I needed them and they were actually a bit of a life line back in the day...

Oh, I should add as well that neither Cheque Centre, Moneyshop or Provident ever suggested I contact a debt charity either... The solution to struggling was always "ok, borrow more"

MB of G x

Kate_fixing_it

Just realised my post sounds a bit judgemental in regards to the reason for borrowing. I was speaking from my personal experience. From reading MB's very frank and honest posts regarding gambling addiction I understand it much better. For an addict getting the funds to feed the addiction is as important as my reasons for borrowing and just as pressing.

Apologies if I sounded at all thoughtless. I will NEVER judge on the subject of PDLs. We're here to help each other get out of the hole we're in, not beat people for falling in. As far as I'm concerned it doesn't matter how or why we're in debt, the only important thing is that we learn from it and get out.

Kate x

Monkeyballs

Hi Kate,

If it's any help I never read it as being harsh

But I've specifically limited the number of posts I'd made about my refunds and kept it reasonably low key to avoid somehow romanticising the idea that if you make a claim then they'll run in fear of the FOS.

I don't think that everyone who has ever taken out a loan should be entitled to a refund of charges, we do have to take responsibility for our own actions but there are obvious tell tale signs which I think any lender should be aware of and act upon, failing to do so in my mind would constitute irresponsible lending but also irresponsible borrowing too - it's harder for a consumer to realise this however as they see the hole they are in and look for ladders while the lender sees an opportunity and has hidden the ladder!

It is very difficult for a lender to make a judgement on a customers state of mind if the customer doesn't ask for help. The problem is, it's often late in the game when they start to ask if Cheque Centre asked me to my face "are you struggling with gambling as you're borrowing a lot" I'd be furious! if they'd said "we're not lending because it's too often" I'd be PO'd and go elsewhere... If they said "We'll lend but if you're struggling then contact Step Change because XYZ" then I'd have dome something about it...

MB of G x

Kate_fixing_it

I think it comes across as "responsible posting". You've been very open about the situation but not (as some have done) shouted from the rooftops "I won I won!" As I said earlier, your case was very specific and you included details. You never seemed to be on a cash hunt, it always seemed to be about their treatment (lack of help and pushing reloaning) at least that's how it came across which is why I was/am a supporter of your case.

Kate x

Monkeyballs

Awww... Shucks, thanks Kate

I'm also very conscious of the fact that I went through bankruptcy before and honestly, never learned my lesson and the second time around I added a large dash of gambling into the mix this time around and therefore want to make this journey more about understanding the value of money and doing the right thing.

I get very wary when people treat a refund or compensation as a win because in my mind it reminds of gambling and at the end of the day what I want for everyone is that they see a DMP as a chance of coming to terms and getting a grip with money and how it should be used...

I see quite regularly on MSE (but rarely on this thread) posts from people wanting to take action because they don't have enough to spend and it's impacting their social life and it makes me sad because they're not quite at the LBM stage just yet and when people such as myself suggest they look to repay their debt as opposed to reduce their outgoings the reply from the Op can be... defensive

That's why I prefer to not boast about it because it can be quite damaging (although I was very pleased at the time LOL), anyone can claim if they feel they have a case but they need to be honest with themselves otherwise you'd get Dave from Nottingham who borrowed a grand for a night out who is now in trouble financially and blames the world or Mark from Edinburgh who borrowed £500 for a games console but refuses to pay it back and now is annoyed that his credit file is trashed and is being chased for the money, etc.

I think Ghost has a reasonable chance of making a successful claim but probably not on the grounds of him/her being in the middle of a breakdown, why would the lender know? Especially online lenders? Just go with continual borrowing and no suggestion of getting help from a debt charity.

MB of G x

Growurown

:wave: Afternoon peeps.

Curses, the evil orange (there's something wrong with your car) light has reappeared:mad::mad:

Now where did I put that roll of masking tape?

Kate_fixing_it

Couldn't agree more. I think Ghost and my situations are similar. It's the ability to reloan that has caused the issue and I firmly believe it's something that could be seen as irresponsible. It's a terrible cycle to be in and one look at the records for me would show the pattern and ought to flag a problem whether the borrower repays on time or not. I NEVER missed a payment but it doesn't mean I wasn't in deep trouble for the time I was using the service.

Kate x

Puzzcat

Growurown wrote: »

:wave: Afternoon peeps.

Curses, the evil orange (there's something wrong with your car) light has reappeared:mad::mad:

Now where did I put that roll of masking tape?

You could try driving with your eyes shut...:D

Hope you get it sorted soon. X