Reclaim payday loans for free discussion area

xlnc99

it was last in adminstration in 2017

bd80s

Just wanted to let people know this is worth doing if you have found yourself getting into a hopeless spiral. I had reached the very limit of being able to repay and had to confront my finances for the first time in a few years. Looking on the MSE site I saw the Resolver tool and have submitted complaints to all pay day loan companies that i have have repeated loans with, while a couple of them have rejected (and I have escalted to the FOS) I have received settlement of over £6990 from MyJar who were quick, efficient and understood how I had gotten into such a problem and their part in it.

Mattyyy

Hi, I’ve attempted to reclaim from Quick Quid, I’ve been offered this as a conclusion.

Conclusion

CashEuroNet UK LLC Complaint Upheld/ Not Upheld: Upheld

Based on our investigation methodology laid out above and your individual circumstances, we have come to the above decision on your irresponsible lending complaint.

Please see the table below for the reasons for our decision.

<<See table 2 in Annex>>

Please see below the summary of our offer.

<<See table 3 in Annex>>

This offer represents the interests and fees you have paid us on loans we have upheld, plus 8% simple annual interest on those interests and fees, minus 20% tax withholding (on the 8% simple interest) to be remitted directly to HMRC on your behalf. If you have any outstanding balance with us at this time, we will first apply the redress towards the balance and any remaining redress will be paid to you as a cash refund

● Interest and fees eligible for refund: £ 76.13

● plus 8% statutory interest £ 44.54

● less 20% withholding £ 8.91

● Total Owed to you £ 111.76

---

● Total Refund Amount £ 111.76

---

There was 7 loans in a 7 month period, two £50 ones, a £100 one, two £200 loans and a £400 loan, the £400 one was actually the 3rd loan I took out with them.

The £400 one is the only one they have upheld and have offered me the £111, is this them just hoping I accept it and go away? Or is there anyway to know if I would be entitled to more.

Sorry I’m useless with this kind of thing

Bermonia

Mattyyy wrote: »

Hi, I’ve attempted to reclaim from Quick Quid, I’ve been offered this as a conclusion.

Conclusion

CashEuroNet UK LLC Complaint Upheld/ Not Upheld: Upheld

Based on our investigation methodology laid out above and your individual circumstances, we have come to the above decision on your irresponsible lending complaint.

Please see the table below for the reasons for our decision.

<<See table 2 in Annex>>

Please see below the summary of our offer.

<<See table 3 in Annex>>

This offer represents the interests and fees you have paid us on loans we have upheld, plus 8% simple annual interest on those interests and fees, minus 20% tax withholding (on the 8% simple interest) to be remitted directly to HMRC on your behalf. If you have any outstanding balance with us at this time, we will first apply the redress towards the balance and any remaining redress will be paid to you as a cash refund

● Interest and fees eligible for refund: £ 76.13

● plus 8% statutory interest £ 44.54

● less 20% withholding £ 8.91

● Total Owed to you £ 111.76

---

● Total Refund Amount £ 111.76

---

There was 7 loans in a 7 month period, two £50 ones, a £100 one, two £200 loans and a £400 loan, the £400 one was actually the 3rd loan I took out with them.

The £400 one is the only one they have upheld and have offered me the £111, is this them just hoping I accept it and go away? Or is there anyway to know if I would be entitled to more.

Sorry I’m useless with this kind of thing

You have made your complaint, they have assessed it and have made you an offer they consider to be fair.

Just simply taking a payday loan does not automatically entitle you to a refund, FOS often only upheld from loan 3/4 onwards in a chain so seems they have assessed your case in line with current FOS policy.

Keep in mind the interest paid on your smaller loans is likely to be considerably less than offered - you could of course go to FOS but then the offer is likely to be withdrawn and you would be hoping that FOS at least uphold your last loan or you would get nothing.

Mattyyy

Thank you for the reply! I really do need help with this.

I just don’t understand how I can have 7 loans in 7 months but only one of them (the 3rd one) is the one that was irresponsible.

Would the ombudsman not look at that?

Also do you HAVE to go the ombudsman? Or could you just get some advice from them before going through the claim so you’ve got some sort of idea if you have a claim?

Thanks again

twhitehousescat

Mattyyy wrote: »

Thank you for the reply! I really do need help with this.

I just don’t understand how I can have 7 loans in 7 months but only one of them (the 3rd one) is the one that was irresponsible.

Would the ombudsman not look at that?

Also do you HAVE to go the ombudsman? Or could you just get some advice from them before going through the claim so you’ve got some sort of idea if you have a claim?

Thanks again

case with provident , ombudsmans opinion

no refund to first one , but refunds on 2 3 4 and 5

this was recieved tonight , case started nov 2018 , so a long wait

Bermonia

Mattyyy wrote: »

Thank you for the reply! I really do need help with this.

I just don’t understand how I can have 7 loans in 7 months but only one of them (the 3rd one) is the one that was irresponsible.

Would the ombudsman not look at that?

Also do you HAVE to go the ombudsman? Or could you just get some advice from them before going through the claim so you’ve got some sort of idea if you have a claim?

Thanks again

To be honest I couldn’t say without looking at all the information, nor will FOS be able to give you an opinion without seeing both sides arguments/evidence.

It could be that there was something specifically poor evidence in your file prior to taking the loan they offered on, or reasonable gaps between loans can result in them being considered as separate chains (so not considered as simply 7 loans)

KramTH

Hi all,
I am looking for some advice please.
I submitted a letter of complaint to Mr Lender and they have rejected by claim for the following reason:

'The FOS has time limit rules in place where they cannot consider a complaint if the event the consumer is complaining about was over six years ago or other three years from where the customer became aware that they had a reason for making a complaint'

I understand the first part of what they are saying. But the second part isn't. I only became aware in the last few weeks that I could actively complain after seeing information on here. But I don't know how to prove I became aware.

Has anyone else dealt with this lender. Any information would be appreciated

Mark

xlnc99

Ive been rejected through all my complaints too

Willing2Learn

According to DebtCamel, the "Ombudsman decides it can look at payday loans over 6 years old"


I don't know how you demonstrate awareness within the said timescale though. There are two embedded FOS decision links that shows how this may work in practice.

https://debtcamel.co.uk/fos-time-limits-payday-loan-refunds/