Payday UK final response to irresponsible lending

bflare

I complained to Payday UK regarding irresponsible lending of various Payday loans I took out with them between 2011 & 2013. I have had a final response letter & they have not upheld my complaint. I did expect this decision on a couple of the loans due to the FCA 6 year rule. I have copied & pasted their reply below. What I am concerned about their reference to all of my loans being more than 6 years old. One of the loans was taking out in 25/06/2013 & I complained in 19/02/2019. Unless my math is questionable this is not 6 years. Also, it is their final response but they said in order for them to consider these loans I have to tell them why I didn't complain until now.



Edit: I have spoken to Payday UK who have said that although the last loan ended in 25/06/2013 I took the original loan out in 29/12/2012 then deferred it 6 times up until I finally paid it off in 25/06/2013. Would the deferrals not be taken into account as I was paying interest on each one? they have also said that I may still be considered for a refund if I can tell them why I have only complained about the loans now. My reason is that I was not aware that complaints were been looked at until I saw it on social media. Is this a good enough reason?

Your complaint
Please read this part carefully as I will explain how I understand your complaint. This is important in how I have reached my decision:
Your complaint was received via email on 19/02/2019.
You state that you could not afford these loan, when you repaid the loan you had to borrow again to get through the next month.
You state that we should have realised from the number of times you borrowed that your debt problems were getting worse. It was not responsible to continue to lend to you.
You requested loans from us between 08/07/2011 and 25/06/2013.
My Decision:
We handle complaints following rules set out by the Financial Conduct Authority (FCA).
One rule is that a customer must complain within 6 years of the problem. Another rule is that if more than 6 have passed, you must complain within 3 years of knowing you could complain about the problem.
I can see that all of the loans that you are complaining about are more than 6 years old. So for me to consider these loans, I need you to tell me why you didn’t complain about these loans until now.
Next Steps:
I appreciate that this may not be the response you may have been hoping for but I hope you can see how and why I have come to my decision. If you are not satisfied, you may also ask for an independent review by the Financial Ombudsman Service.

[Deleted User]

bflare wrote: »

I complained to Payday UK regarding irresponsible lending of various Payday loans I took out with them between 2011 & 2013[/B]. I have had a final response letter & they have not upheld my complaint. I did expect this decision on a couple of the loans due to the FCA 6 year rule. I have copied & pasted their reply below. What I am concerned about their reference to all of my loans being more than 6 years old. One of the loans was taking out in 25/06/2019 & I complained in 19/02/2019. Unless my math is questionable this is not 6 years.

It's not, but you say that you didn't complain about that loan.

It also seems to have been taken out AFTER you complained they shouldn't lend you money, which is unusual.

bflare

Deleted_User wrote: »

It's not, but you say that you didn't complain about that loan.

It also seems to have been taken out AFTER you complained they shouldn't lend you money, which is unusual.

oops! Sorry I have now edited my post. It now reads that I took the loan out in 25/06/2013 & complained in 19/02/2019 which is less than 6 years by my reckoning.

Exodi

bflare wrote: »

oops! Sorry I have now edited my post. It now reads that I took the loan out in 25/06/2013 & complained in 19/02/2019 which is less than 6 years by my reckoning.

Then reply to them with this information. Many PDL'ers won't flippantly accept liability though so this will likely go to the FOS regardless.

bflare

Exodi wrote: »

Then reply to them with this information. Many PDL'ers won't flippantly accept liability though so this will likely go to the FOS regardless.

Ok thanks. I have received a pay out already from Quick Quid without much bother.

Bermonia

I would point out that it merely says you ‘applied’ for loans between those date ranges - does not necessarily mean that you were successful on all those occasions - in fact after so many lenders tend to start rejecting apps although people keep applying... often out of desperation.

Speak with them and ask them to confirm the dates of all your loans (not applications) - this may clarify things.