Claims Management Company - Payday refund

elliottslade

Hello, new to these forums so not sure if this is the right place for this post:

For the past 6 months I have been using a claims management company to deal with me trying to get a refund from my previous payday loans.

Overall I have received compensation from 4 of my previous lenders.

I have been happy with the claims management company up until now... I have found out yesterday that an offer of settlement for a complaint with 247 moneybox was accepted by an advisor from the claims management company, he did not contact me to confirm that this was ok so i am very angry about this as i would of sent it to the ombudsman as i disagree with the outcome the lender proposed.

This is not the first settlement to have been accepted without my permission, another 2 of my compensation settlements from lenders have been accepted by the company before they have spoken to me... when they did notify me eventually (so they could get there fee) they would always say something like "we've accepted this offer for you already to speed the process up" ....etc which i believe is wrong and is not a good service they are providing.

I am about to contact the manager of this claims company to discuss this however i do feel not much can be done now that this matter has been settled (even though it was without my permission).

Just wondering if anyone can give me any advice or has been in this situation as i am a little confused as what to do next.

The claims management company i used was paydayrefunds.co.uk and the lender was 247 moneybox.

Many thanks!

[Deleted User]

What did you authorise them to do in the contract, beyond posting your forms for you?

Either way, as redress is defined, there would have been little point in rejected the offer unless you genuinely believe a calculation error has been made.

elliottslade

Hi, in the contract it states the following:

7. If accepted by you we will process the payment and forward your part of the compensation to you.
9. We will keep you fully updated as the claim progresses.

Both of those were not carried out by them.

As for the settlement it was for nothing, just a wipe of the negative mark on my credit file, which has made me furious as i was expecting some sort of compensation offer from them of all the lenders. I believe they lent to me irresponsibly that is why i wanted to take the complaint to the FOS.

-taff

You can't complain about a correctly defined redress amount.
You can complain to them that they haven't followed their procedures.

Bermonia

Seems more likely that you were irresponsible in borrowing - not sure why this would constitute as some financial windfall for you as you did borrow the money at the agreed upon rates, consider it fortunate that they offered to amend credit file.

With regards to the claims company, usually letter of authority that you sign will give them the right to act upon your behalf, but please feel free to complain to them however not sure what would be gained by this.

Nasqueron

elliottslade wrote: »

Hi, in the contract it states the following:

7. If accepted by you we will process the payment and forward your part of the compensation to you.
9. We will keep you fully updated as the claim progresses.

Both of those were not carried out by them.

As for the settlement it was for nothing, just a wipe of the negative mark on my credit file, which has made me furious as i was expecting some sort of compensation offer from them of all the lenders. I believe they lent to me irresponsibly that is why i wanted to take the complaint to the FOS.

If you borrowed money and didn't pay it back, your credit file is going to be marked. Your complaints about being lent irresponsibly would be best done direct not via a claims firm who only care about money

elliottslade

Hi Bermonia,

You do not know the circumstances so cannot make that kind of judgement upon yourself.

Thanks

elliottslade

Nasqueron wrote: »

If you borrowed money and didn't pay it back, your credit file is going to be marked. Your complaints about being lent irresponsibly would be best done direct not via a claims firm who only care about money

Hi, the money was paid back on all of the loans, my credit file was marked due to late payment not due to a default.

Nasqueron

elliottslade wrote: »

Hi, the money was paid back on all of the loans, my credit file was marked due to late payment not due to a default.

Late payment still best to speak to the lender directly to plead your case and appeal to their better judgment. A claims firm will just be trying to make money and won't really care about your credit history.

elliottslade

Nasqueron wrote: »

Late payment still best to speak to the lender directly to plead your case and appeal to their better judgment. A claims firm will just be trying to make money and won't really care about your credit history.

Ok i will do that, thank you for your advice :beer:

Bermonia

Hi Elliotslade

I didn’t make any type of judgement on myself... I made judgement on you from the information YOU provided.

Also worth noting that firms are legally required to record you payment history accurately... if there has been no error or exceptional circumstances then they would highly unlikely amend credit file as this goes against their obligations.