Payday loan refund

Getting.sorted

Hi all. Long time reader just joined. Following advice on here I applied for a refund from a main payday lender under irresponsible lending. Here's what they sent/offered me:

would like to offer the following:
• ! A refund of all interest and charges paid in respect of the above loan, totalling £2845.67 (you borrowed £2312.62 and repaid £4798.29)
• ! Simple interest at 8%, calculated on the above figure and totalling £845.67.

I cant work out how much they are offering. 845 or 2845 or 845+2845.

Any help gratefully received. Thanks

sourcrates

I would assume it to mean that they are paying you £2845.67, which represents the interest and any charges you paid on your loans.

plus, they must add simple interest @8% on the above figure, which comes to £845.67.

Total refund of £3692.34p

Getting.sorted

Thanks for the reply sourcrates. When I first read it I thought the offer was 845 and was chuffed. Then read it again and confused myself
Only emailed them once

sourcrates

Getting.sorted wrote: »

Thanks for the reply sourcrates. When I first read it I thought the offer was 845 and was chuffed. Then read it again and confused myself
Only emailed them once

That, on the face of it, seems like a very good offer, in effect your loan was interest free, plus a bit back on top.

Dullville

Getting.sorted wrote: »

Hi all. Long time reader just joined. Following advice on here I applied for a refund from a main payday lender under irresponsible lending. Here's what they sent/offered me:

would like to offer the following:
• ! A refund of all interest and charges paid in respect of the above loan, totalling £2845.67 (you borrowed £2312.62 and repaid £4798.29)
• ! Simple interest at 8%, calculated on the above figure and totalling £845.67.

I cant work out how much they are offering. 845 or 2845 or 845+2845.

Any help gratefully received. Thanks

Hi, please can you point me in the right direction for the advice you followed to claim a refund for irresponsible lending from a payday loan
Company? Was it on this site.
Had a couple of emails from claims company who will do it but obviously they won’t be doing it for nothing.
Thanks.

WillyWonga

The person chose to get a "loan"

The company "decided to take on the risk and factor charges accordingly"

The person "agreed to the terms" and took the money

The person claims it was not responsible lending and gets money back.

No wonder world is going nuts....:eek:

sourcrates

Dullville wrote: »

Hi, please can you point me in the right direction for the advice you followed to claim a refund for irresponsible lending from a payday loan
Company? Was it on this site.
Had a couple of emails from claims company who will do it but obviously they won’t be doing it for nothing.
Thanks.

Full guide to reclaiming here :

https://debtcamel.co.uk/payday-loan-refunds/

Life is never black and white gentleman.

Getting.sorted

Dullville wrote: »

Hi, please can you point me in the right direction for the advice you followed to claim a refund for irresponsible lending from a payday loan
Company? Was it on this site.
Had a couple of emails from claims company who will do it but obviously they won’t be doing it for nothing.
Thanks.

Hi, I followed the advice and used the template on debt camel, took about 10 minutes, sent it off, they have 8 weeks to reply. They replied on the 8 week point with an offer.

I can't post a link as new user here. Just Google debt camel payday loan refund

dont pay a ccompany , its really easy

Dullville

sourcrates wrote: »

Full guide to reclaiming here :

https://debtcamel.co.uk/payday-loan-refunds/

Life is never black and white gentleman.

Thanks Sourcrates...:beer:

Dullville

WillyWonga wrote: »

The person chose to get a "loan"

The company "decided to take on the risk and factor charges accordingly"

The person "agreed to the terms" and took the money

The person claims it was not responsible lending and gets money back.

No wonder world is going nuts....:eek:

What makes you so righteous? Hiding behind your keyboard acting the big man.. :rotfl::rotfl::rotfl:

Getting.sorted

Dullville, have a good read on that site, get the email filled in and send it off. Good luck