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Reclaiming money back from various payday loan companies

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
3.6K replies 621.2K views


  • candiiicandiii Forumite
    34 posts
    10 Posts Name Dropper
    Hi I just wanted some advice regarding what to do next after my complaint not being upheld by safety net credit, but a good will gesture instead offered. They have offered to clear my balance of around £1200 and be marked as settled.
    To give an idea, between February 2015 and November 2016 I repaid £17,600 roughly.
    I was regularly having to borrow and pay back the money as my limit increased, to the highest of £1100 a month.
    I also had a gambling issue which was clear to see as safety net credit have access to all bank statements. I had other pay day loans I was also taking out. 
    Do people think its worth me escalating further to ombudsman as safety net credit has said it is their final response, but I'm confident it wasn't used properly and I was in a cycle of lending money days after paying off what I had borrowed to get through. I was extremely stressed and left my job at the end of all this because it had got so bad
    I complained to these guys years back and I accepted their goodwill gesture as I just didn't want dealings with them anymore. I think you should pursue it if you're unhappy; based on your situation, I think it's worth going to the Ombudsman

    Keep us updated and good luck
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  • super_saver123super_saver123 Forumite
    30 posts
    10 Posts Name Dropper First Anniversary
    Success at last! A year after I first complained, I have today received a payment from CashPlus (Advanced Payment Solutions) for the mis-lending of their iAdvance product. It was essentially a payday loan and I was stuck in a cycle of borrowing with them for several years. It did go to the FOS who ruled in my favour at the beginning of the year. It's taken a while but I am so glad I persued this :smiley:
  • edited 20 May at 8:03PM
    Sarge94061Sarge94061 Forumite
    12 posts
    Fifth Anniversary 10 Posts Combo Breaker
    MoneySaving Newbie
    edited 20 May at 8:03PM
    I started a DMP with StepChange last year, which included payday loans.  After seeing an article on MSE, I decided to pursue complaints with the blessing of StepChange.

    I've now had my first success with Satsuma Loans.  After submitting a complaint via Resolver they've written off the interest and O/S debt for both loans with them.

    I also submitted a complaint against a company that's subsequently gone into administration, My Money Partner.  Does anyone have any experience with them, I've already paid back more than original loan amount, so effectively I'm only paying off interest now @ £5.00 a month.  I've got the paperwork to submit a claim as a creditor, however after the Wonga fiasco I'm not holding out much hope of them writing off the outstanding debt (around £300).

    Also now submitted a complaint to Drafty and will see what they come back with.  While not as bad as payday loans, the constant increases to credit line meant that monthly payments soon ramped up, along with the interest.  Again interested to know if anyone has had any success with them?
  • sonya0205 said:
    New here and in a right pickle.  Have decided to make complaints to the following:-

    My Jar
    Quick Quid 
    Lending Stream

    Anyone had any experience with these?
    New here but I put in a complaint with Lending stream in 2018, they declined my complaint and I went to the FOC.  It took around 9 month's to work through but I received just over £5K back from them, I had taken almost 42 loans over a few years.  Definitely worth perusing as I was in two minds about going to the FOC once LS had responded, good luck! 
  • chipsmumchipsmum Forumite
    49 posts
    10 Posts
    I claimed from My Jar and they refunded £3700 plus wrote of a balance of £1k. It was all very quick, less than 8 weeks in total from start to finish with no FOC involvement. Also claimed to Sunny who were very tricky but did write of my existing balance. I was going to tackle Quick Quid but the loan has disappeared from my credit file although there is an outstanding balance. It's about to become statute barred, so decided to let sleeping dogs lie as I haven't heard from them for years now. Go for it !
  • richardadcrichardadc Forumite
    54 posts
    Part of the Furniture 10 Posts Combo Breaker
    I've recently had a decision from an Ombudsman regarding a complaint I had with Lending Stream.  The initial adjudicator decided that none of the loans should have been lent to me and that any negative information on my credit report before the decision would be removed from my credit file.  I need to pay back £800 of the original £2K.

    I however had a question regarding what was the point in removing the negative information from my credit history if they are allowed the following day to put negative information back.  I didn't really get an answer that I thought was acceptable and took it to an Ombudsman.  They've recently decided that once again my credit report should have the previous negative information removed but then they're allowed to once again put negative information back such as I'm in a payment arrangement with them.

    This makes absolutely no sense to me and puts me in a worse position.  At the moment all my defaults full off my credit file in about 3 years.  By this arrangement however Lending Steam will be able to put an Arrangement to Pay on my credit file which is going to affect me for 6 years from when the debt is paid off potentially meaning I'm not going to have 10 years left of bad credit.

    Is there anything that can be done about this?  I never would have thought that going to the FOS would put me in this situation.  My only other option is to refuse the offer and pay back the full £2K.

  • sourcratessourcrates Forumite, Board Guide
    20.6K posts
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    Hi richardadc,
    Tough one that, if you refused to pay, they would most likely default you, and sell the debt on, then you could make arrangements with the new owner, just an idea.
    Your credit file would be clear after 6 years instead of 8-10.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File and Ratings, 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:
    [email protected].
    Any views expressed are mine and not the official line of
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • richardadcrichardadc Forumite
    54 posts
    Part of the Furniture 10 Posts Combo Breaker
    It's just that I've already been defaulted by them back in late 2017.  Surely it doesn't make sense for the FOS to allow them to remove this default just to give them permission to default me again in 2020.  I'm just wondering if there is any guidance or a way of appealing this.

    Have other people that have taken their complaint to the FOS had the same result?
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