Payday Loan Refund

PermanantMarka1988

Hi everyone,

I have a slight issue, back in Dec 2013, I was able to get a payday loan. As I had payday loans before (Wonga etc) I knew I could increase so I applied for a increase and got a increase... Then I proceded to get 4 more loans at same time (2x December, 1 January, 1 February, 1 March on 5/6 month instalment plans) through same company via the increase limit link on the first loan... I am still paying them off now and have been through a very difficult patch with employment etc and still have current debt...

I put in a complaint with the company as to why I was able to get several loans and complained on financial and why they still allowed me to get several loans over affordability and their lax in approving so many applications in a short space of time which nowadays would get flagged.

They have responded saying they did appropriate checks;

Your Experian score was 631 or above. This was factored into our proprietary underwriting and deemed acceptable
At the time of each application, you were employed full time
Your monthly income at the time of applications was £xxxx.xx
We could observe a sufficient disposable income, which denoted that repayments towards the loans could have been made without any financial difficulties
You were approved only for the amount you were eligible for

I have cleared one of the loans but still over £400 on the other 4. I pay £40 per month ATM but was paying £10/£20 per month in past.

They responded saying two of the loans could be covered and the other two combined means I only owe £10 odd then they are sorted.

I asked if this means they would be fully settled as I want my credit score to start to go back up; she thinks they will be. When I made by initial complaint they didn't talk about the financial ombudsman.

Should I try and go to the ombudsman to look after this or should I just accept I pay £10 and the loans get cleared? Or reject their offer? I just don't want them as 'partially settled', I'd rather struggle then have a partial on my credit file.

Thanks for your help.

jonesMUFCforever

If the information they have stated is correct I don't think you have a leg to stand on.
Why go the ombudsman?
Pay the ten quid and move on making sure you never take out another payday loan.
I would start by putting the cash you would have been paying on the loans in a savings account for the next emergency.