Payday loan complaints/reclaim

Phipsy101 · 6 March 2019 at 9:13PM

Hello,

Looking for advice from previous experiences regarding reclaiming against Payday lenders.

The basics;

I first took out a payday loan as a quick fix to a short cash problem on an upcoming car finance payment, this spiralled out of control over a couple of years. In 2017 total cash in and out of my bank account was £52,000.

My average wage was £500 per week. The rest of the money in and out of my bank account came from borrowing from pay day lender to pay another.

The worst trap I feel into was “safetynetcredit” which started off as borrowing £40 ended up in months on end of them taking all my weekly wages and me having to immediately borrow it back off of them. I only recently
Managed to get out of this cycle with them by writing to them for a second time and telling them I was struggling and couldn’t keep on living the way I was.

I have been in my overdraft for around 5 years and have still managed to secure pay day loans from 5 different providers. Many of them all at the same time.

For years I tried to ignore how big of a problem it was and just continued to bury my head, not answering phone calls, dreading knocks at the doors and putting off opening letters for days. It is only tonight now I have paid off most of these lenders I can finally look back and realise how bad things actually was. I have reviewed my bank account, August 2017 I was paid £2200 in wages from job... total money in/out of my account for that month was £5500!

To me anyone who checked my financial history or credit scoring would have been easily able to tell I couldn’t afford any more loans but they kept on giving!

Has anyone had any similar experiences and been successful in claiming any money back?

Thanks in advance