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Reclaim payday loans for free discussion area

edited 30 November -1 at 1:00AM in Loans
124 replies 24.5K views
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  • natp1985natp1985 Forumite
    1 posts
    First Post
    MoneySaving Newbie
    Hi ,
    I am wondering if someone could advise if there is anyone who could help with loans pre 2007 ? I have recently begun to help my parents with their debts due to illness - shockingly I have found that it has stemmed from just under 80 loans from provident starting back in 1997 . My mother alone has taken £27000 in loans with interest on top of just under £18000 😩. The loans are taken to pay off the previous and sometimes she has 4 or 5 open at one time . She has never had an income so I don’t know how they have thought this affordable . Anyhow the loans stopped in 2006 and she finally give up and the balances were transferred to a debt management company . She has made token payments since and has never been aware of the fact this was wrong And she should never have been borrowed the money . I can complain direct to Provident but due to the timescales I am wondering if anyone has been in a similar situation to see if there is any hope they will review it ? I mean the interest is shocking , I feel sick to think they have paid it and struggled . But even if they didn’t get it baxk or any 8 percent interest I would seriously like to try to get them to wipe the balance with the debt management company . 

    Thank you in advance 
    Natalie 
  • Bozena1966Bozena1966 Forumite
    1 posts
    First Post
    MoneySaving Newbie
    Hi I have contacted Company Cash Converters  as in a past had several loans from them . the last one was in 2016 and i have evidence  for this . I have sent complain and their response was that they are happy to process 2016 complain but they cannot provide me with any earlier on taken loans before 6 years back . The last loan been paid via bank where loans before this only with cash.  I cannot find any old documents to proove my rights. Please I would ask you for advice.  Thank you 
  • gingaJgingaJ Forumite
    1 posts
    First Post
    MoneySaving Newbie
    If you have had a claim for mid sold pay day loan partially upheld by a lender should you challenge this further with the Ombudsman?

    I have received an offer where they say they were only responsible after my 14th lending and will refund from that point only with the 8% interest applied.

    They also say there is a possibility the ombudsman may say they acted properly and they would then remove the offer.

    Is this possible or are they trying to scare me into their opening offer?

  • zx81zx81 Forumite
    28.9K posts
    Tenth Anniversary 10,000 Posts Photogenic Name Dropper
    ✭✭✭✭✭
    You can escalate to FOS if you want.  

    There's a possibliity that FOS decide no refund at all is necessary, but that's unlikely unless the offer of redress is purely goodwill.
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