Reclaiming from SafetyNet Credit

revneil

Quick question: anyone successully reclaimed interest from SafetyNet Credit? And if so, what was your strategy? Thanks.

[Deleted User]

Some will have.

They would have given their complaint reasons.

Stellastor

They are quite responsive if you start referring to next action being a FOS complaint. If I have to file the complaint (trying to settle) my strategy is to challenge their financial promotion, which has been misleading because their Representative %APR calculation is not correct. 

me1984

I put in an affordability complaint, safetynet credit rejected it, i then raised with the fiancial ombudsmon. When reviewing the information safteynet supplied it turns out they counted the money they had loaned me as income, as soon as i pointed this out a offer was received.

Rob5342

I got some interest back from them, I just sent them a complaint based on the debtcamel template and they upheld it and refunded the interest.

doglover34

ok so I just logged in to my OLD Safety Net Credit account - I had this from 2016 to 2020 - I was in massive amount of financial difficulty, and was reborrowing straight after they took back a payment...it started out as £100 loan, and was upped and upped and i was borrowing £1k+ each month of which I couldn't afford and Robbing Peter tp pay paul!.  I've downloaded my tranasactions and the interest charged through out the loan was over £8k .... whats the likelyhook of getting this back??
 

[Deleted User]

Have a look at the debt camel site here: https://debtcamel.co.uk/payday-loan-refunds/

They say you can complain about this firm. I would caution though you are unlikely to get £8k of interest back but you might get something

nickitee3004

I logged my affordability claim with them 8 weeks ago. I totted up just under 4k in interest alone. They waited until the last moment of the 8 week response time and came back saying they haven't reached a decision yet and i may go to the FOS if I wish. I really dont know what to do for best.

[Deleted User]

Wait for them to respond.

dunstonh

They waited until the last moment of the 8 week response time and came back saying they haven't reached a decision yet and i may go to the FOS if I wish. I really dont know what to do for best.

If the firm is getting towards the end of the 8 week period, they are required to issue that letter.   They haven't waited until the last moment.  It just means they haven't completed their work on it yet.  If they are very busy, they may not even have started on it.  

doglover34

doglover34 said:

ok so I just logged in to my OLD Safety Net Credit account - I had this from 2016 to 2020 - I was in massive amount of financial difficulty, and was reborrowing straight after they took back a payment...it started out as £100 loan, and was upped and upped and i was borrowing £1k+ each month of which I couldn't afford and Robbing Peter tp pay paul!.  I've downloaded my tranasactions and the interest charged through out the loan was over £8k .... whats the likelyhook of getting this back??
 

Ok so an update from SNC - they replied today saying they have until the 16th June to reply and I will receive a final response by this date.  I hadnt emailed them, this email came out the blue, I will let you know how I get on in a few days when the final response come in!