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Reclaim payday loans for free discussion area

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  • antrobus
    antrobus Posts: 17,386 Forumite
    Hi Folks

    Quick question,can claiming against a defaulted but time barred pay day loan bring it back to being unbarred so to speak? been looking through my credit file and see i have a few that were defaulted but have now ended. is it better to let sleeping dogs lie?

    Many thanks in advance


    If the debt is on your credit file it will be less than six years old and thus not time barred.


    What would you be claiming for against a defaulted loan?
  • antrobus wrote: »
    If the debt is on your credit file it will be less than six years old and thus not time barred.


    What would you be claiming for against a defaulted loan?
    Not necessarily as I can go back further than 6 years when they dropped off. Im asking as I got an email from those that are dealing with wonga saying I could be due a refund so thought I'd look at the others I had at the time. Patently couldn't afford them but didn't seem to have many choices.
  • Bermonia
    Bermonia Posts: 977 Forumite
    500 Posts
    To stop time bar you simply need to acknowledge the debt... I wouldn’t certainly say that lodging a complaint would likely be deemed as acknowledgement.
  • Nasqueron
    Nasqueron Posts: 10,688 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Not necessarily as I can go back further than 6 years when they dropped off. Im asking as I got an email from those that are dealing with wonga saying I could be due a refund so thought I'd look at the others I had at the time. Patently couldn't afford them but didn't seem to have many choices.


    Assuming it was defaulted and not paid, if they agree it was miss-sold they might offset any refund against the unpaid debt

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

  • That’s great news. I have just had my final response from
    Lending stream saying no fault on their part. Will complain to ombudsman and your success gives me hope. If I am successful it could more than 3500
  • antrobus
    antrobus Posts: 17,386 Forumite
    That’s great news. I have just had my final response from
    Lending stream saying no fault on their part. Will complain to ombudsman and your success gives me hope. If I am successful it could more than 3500


    Lending Stream don't do payday loans. Did they offer them in the past?
  • Turtle87
    Turtle87 Posts: 38 Forumite
    Yes they day. Even if they are instalment loans you can still reclaim;

    https://debtcamel.co.uk/refunds-large-high-cost-loans/
  • Hi everyone - just to say that I'm currently using Resolver with my paydayloans claims. I've had several over the years and I've felt that my life has been falling apart. It's made me so very ill that I've hidden away and become almost reclusive. Today I have received a reply from quickquid, via resolver, who 'say'they are refunding me a good chunk of the money. If I do get this it will be an incredible help towards bills that I am currently struggling with so I'm keeping my fingers crossed that I will actually get a refund and that quickquid won't actually use it to offset anything I've already paid to them. Their response has me a little confused. I just wondered if anyone else had a refund via resolver and how long it took to be paid into their account. I'm keeping everything crossed that I will get this so I can at least sleep a little easier. Thank you.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    It won't be offset against what you paid to them, but could be used to offset anything you haven't paid them, if you didn't repay in full.

    The refund won't come via Resolver - it's just an interim email provider that occasionally loses emails. The refund will come directly from the lender.
  • It won't be offset against what you paid to them, but could be used to offset anything you haven't paid them, if you didn't repay in full.

    The refund won't come via Resolver - it's just an interim email provider that occasionally loses emails. The refund will come directly from the lender.

    Thank you for your response. The email received from them reads:
    Interest and fees eligible for refund: £3104.32
    plus 8% statutory interest: £1524.31
    less 20% withholding: £304.85
    Total owed to you: £4323.78
    Total waiver amount:£1000
    Total refund amount: £3323.78
    Total outstanding balance after redress:£0

    So am I getting a refund of £3323.78 or a refund of £0?

    I'm just so confused by all the legal wording.
    Thanks again.
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