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payday loan problems - ask the ombudsman

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payday loan problems - ask the ombudsman

edited 27 March 2015 at 3:20PM in Loans
108 replies 40.8K views
financial_ombudsman_representativefinancial_ombudsman_representative Has MSE’s permission to post for company
94 posts
Organisation Representatives
edited 27 March 2015 at 3:20PM in Loans
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Payday lending worries keeping you awake at night? Don’t worry, you’re not alone. The ombudsman service is here to help.

We sort out problems between payday lenders and their customers. We can help with a range of things, for example if your lender:

·charges you more than once for a missed payment
·charges you a fee for a loan which you never receive
·doesn’t respond when you ask for help with the repayments
·calls and texts you too much
·and many other issues.

There are lots of ways to get in touch…

1.Just ask your question below and we will reply. If your question is about something other than payday lending, pop over to our Twitter feed @financialombuds to ask it now.

2.If you would prefer to ask a question in private, feel free to send a message to [EMAIL="paydayhelp@financial-ombudsman.org.uk"][email protected][/EMAIL]

3.We’re available for web chat which can be found on our website here

4.Phone us, for free on 0800 023 4567 or if you’re calling from a mobile on 0300 123 9123, lines are open Monday-Friday 8am – 8pm and Saturday 9am – 1pm.

You can follow us on twitter @financialombuds and also check out our other threads below:

Banking Problems
Motor Insurance Problems



Official Company Representative
«13456711

Replies

  • Thank you - I must say it certainly works. I've recently come through a large debt mountain as a result of these and one PDL company in particular kept charging even though I had entered a DMP. Eventually sending out fake solicitor letters.

    I've been in contact with them this year to try to settle the amount but they basically ignored me. The Ombudsman has helpfully reviewed this and the PDL has made an offer which I've accepted...now I'm just waiting for them to contact me...which I suspect they won't.

    If you have an issue, do get in touch with them. They certainly do help!
  • financial_ombudsman_representativefinancial_ombudsman_representative Has MSE’s permission to post for company
    94 posts
    Organisation Representatives
    Hi Sinhanada

    Thank you for your post. I am pleased that we have been able to help you with this issue. If you still haven’t heard from the business about your offer feel free to get in touch.

    Don’t let money worries keep you awake at night, the Ombudsman is here to help.
  • Hi Sinhanada

    Thank you for your post. I am pleased that we have been able to help you with this issue. If you still haven’t heard from the business about your offer feel free to get in touch.

    Don’t let money worries keep you awake at night, the Ombudsman is here to help.

    The exact opposite to what I was told and found the ombudsman is there to give his veiw on the matter not to help advise.
  • dumpyboy wrote: »
    The exact opposite to what I was told and found the ombudsman is there to give his veiw on the matter not to help advise.

    I'm not sure what you mean by your post. I had an issue with a PDL, I complained to the PDL and followed their procedure. After 8 weeks of receiving nothing back but an automated response I contacted the Ombudsman who reviewed the case. After receiving both information from both the PDL and myself an offer was made by the PDL and I was asked if I would accept it. I did.

    They gave reviewed the information and acted upon it. They did not advise me?
  • dumpyboy wrote: »
    The exact opposite to what I was told and found the ombudsman is there to give his veiw on the matter not to help advise.

    I'm not sure what you mean by your post. I had an issue with a PDL, I complained to the PDL and followed their procedure. After 8 weeks of receiving nothing back but an automated response I contacted the Ombudsman who reviewed the case. After receiving both information from both the PDL and myself an offer was made by the PDL and I was asked if I would accept it. I did.

    They gave reviewed the information and acted upon it. They did not advise me?
  • edited 1 October 2014 at 12:19PM
    financial_ombudsman_representativefinancial_ombudsman_representative Has MSE’s permission to post for company
    94 posts
    Organisation Representatives
    edited 1 October 2014 at 12:19PM
    Sinhanada wrote: »
    I'm not sure what you mean by your post. I had an issue with a PDL, I complained to the PDL and followed their procedure. After 8 weeks of receiving nothing back but an automated response I contacted the Ombudsman who reviewed the case. After receiving both information from both the PDL and myself an offer was made by the PDL and I was asked if I would accept it. I did.

    They gave reviewed the information and acted upon it. They did not advise me?
    dumpyboy wrote: »
    The exact opposite to what I was told and found the ombudsman is there to give his veiw on the matter not to help advise.


    Hi

    Thank you both for your posts. At the ombudsman our aim is to resolve complaints between individuals and financial businesses. Although we don’t offer advice, we help people by looking at what we think is fair. We tell the business to do the right thing.

    With payday loans we are working with consumers and businesses in a completely new way. With short-term lending we know that speed is of the essence – so we take the complaint directly to the business and we’re often able to get problems sorted out before they escalate or become a “case”.

    Have a look at this article, it’ll tell you a bit more about the work we have been doing. http://www.theguardian.com/money/2014/sep/02/financial-ombudsman-payday-loans-disputes-lenders-14-days

    You can see how this works in practice by looking at how we have helped Lewis, Leanne and Jon: http://financial-ombudsman.org.uk/keeps-you-awake/people-weve-helped.html

    We have been able to resolve these types of complaints by working closely with the businesses to remove excessive charges and interest, set up repayment plans and highlight issues where consumers are unable to repay. Even if we don’t agree with your complaint, we can help you speak to the business to make things more manageable.

    If you have an issue like anything I’ve mentioned above with a payday loan company please speak to us. We can help.
  • fermifermi
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    We want to use this thread to encourage people with a payday loan related problem to get in touch with us and seek help.

    But we’re more than happy to discuss your points over on Twitter where we answer questions about anything ombudsman related.

    Alternatively, if you start another thread, we can comment there. Or here our other contact details too, if you’d prefer that.

    Thanks

    Off topic posts moved to a new thread here.

    ---> FOS & case fees
    I'm a Board Guide on the Debt-Free Wannabe, Bankruptcy, Credit Cards and Loans boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to [email protected]

    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
  • Payday lending worries keeping you awake at night? Don’t worry, you’re not alone. The ombudsman service is here to help.

    We sort out problems between payday lenders and their customers. We can help with a range of things, for example if your lender:

    ·charges you more than once for a missed payment
    ·charges you a fee for a loan which you never receive
    ·doesn’t respond when you ask for help with the repayments
    ·calls and texts you too much
    ·and many other issues.

    There are lots of ways to get in touch…

    1.Just ask your question below and we will reply. If your question is about something other than payday lending, pop over to our Twitter feed @financialombuds to ask it now.

    2.If you would prefer to ask a question in private, feel free to send a message to [EMAIL="paydaylendinginbox@financial-ombudsman.org.uk"][email protected][/EMAIL]

    3.We’re available for web chat which can be found on our website here

    4.Phone us, for free on 0800 023 4567 or if you’re calling from a mobile on 0300 123 9123, lines are open Monday-Friday 8am – 8pm and Saturday 9am – 1pm.


    Many company's treat you like this what makes it right for you to decide what cases to look at and who is worthy of help and who is not
  • MoneyineptitudeMoneyineptitude
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    dumpyboy wrote: »
    what makes it right for you to decide what cases to look at and who is worthy of help and who is not
    What are you on about? FOS look at all cases referred to them by customers, they don't "cherry pick" those they want to help...
  • keepcalmandstayoutofdebtkeepcalmandstayoutofdebt
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    All I can say is back in 2011/2012 people were treated a lot differently. Or is it the change in CEO... back to the rosy specs


    I know someone who giggles how bad the payday loan industry was 3 years ago when it got to the point people took their own lives, lost job after being rung at work and getting the 'don't look over your shoulder' talk amongst other things... had to get their own justice even, compared to today, and they have a point, whilst I can beat them at payday loan mastermind! I doubt the above rarely happens now for the greater good


    Strange how we get such protection organisations caring after the storm? For some "to little, to late"


    I've never forgotten when I was draw into the FOS wanting to charge when I sorted matters myself - the lender kindly copied me in... if that isn't enriching one's organisation what was, while they say you should never trust anyone else
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