Payday Loan offer - should I accept or decline?

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Hi,
I submitted a mis-sold payday loan to Car Cash point on the 21 January 2020 through Resolver, and they responded that the complaint refers to an account that I held with them over six years ago and there lending was responsible, so because of this they would not be accepting my complaint.
I responded a couple of months later (10th May 2020) stating that I am dissatisfied with there response and would like to move towards a solution.
To my surprise I received a phone call from Car Cash points customer care manager today asking if we could come to a resolution over the phone instead of going back and forth through Resolver. He wanted to hear my side of the story.
I proceeded to tell him that at the time of taking the loan out I obviously really needed it, but my financial situation got worse, to the point I missed a lot of payments to them which left my in arrears and when I asked if I could reduce my repayments to a affordable amount I was told no and if i didn't stick to the original amount my car would be taken from me, which ended up happening. My car was taken to Car Cash points depot where i wasn't able to claim it back until i forked out i think it was around £2000.
Which i had to end up begging my dad and Nan for the money.

Below is the email from the customer care manager with the offer.
Please let me know if you think i should accept the offer, take it further through Resolver or ask for a higher offer?

It was a pleasure to speak with you today.

Further to our conversation we have offered you a £500 gesture of goodwill payment as full and final settlement to your complaint regarding irresponsible lending and account management.

If you wish to accept this offer we would like to try to pay this redress to you as quickly as possible so all you need to do is confirm your acceptance by reply and provide the bank details of the account you would like us to pay into.

Should you have any further queries please contact me directly on the above number or by reply to this email.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Sounds a good offer, especially as they don't appear to have done anything wrong.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    edited 14 May 2020 at 6:02PM
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    kelswals said:
    Please let me know if you think i should accept the offer, take it further through Resolver or ask for a higher offer?
    It's a goodwill offer which can be withdrawn completely should you "take it further". They are simply offering you money to make you go away. 

     Why would you now use Resolver when  you already have personal contact with the Customer Care Manager? 
    Resolver is just an E-Mail template. 
    Why exactly do you think the original loan was "irresponsible lending"? 
  • kelswals
    kelswals Posts: 10 Forumite
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    kelswals said:
    Please let me know if you think i should accept the offer, take it further through Resolver or ask for a higher offer?
    It's a goodwill offer which can be withdrawn completely should you "take it further". They are simply offering you money to make you go away. 

     Why would you now use Resolver when  you already have personal contact with the Customer Care Manager? 
    Resolver is just an E-Mail template. 
    Why exactly do you think the original loan was "irresponsible lending"? 
    I was topping up the loan when i needed more money.
  • brettcta
    brettcta Posts: 4,693 Forumite
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    kelswals said:
    kelswals said:
    Please let me know if you think i should accept the offer, take it further through Resolver or ask for a higher offer?
    It's a goodwill offer which can be withdrawn completely should you "take it further". They are simply offering you money to make you go away. 

     Why would you now use Resolver when  you already have personal contact with the Customer Care Manager? 
    Resolver is just an E-Mail template. 
    Why exactly do you think the original loan was "irresponsible lending"? 
    I was topping up the loan when i needed more money.
    But if the terms of the loan allowed this and it was inside their lending tolerances (I.e. you hadn’t defaulted at the time of topping up) then again, they may not have done anything wrong
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
  • kelswals
    kelswals Posts: 10 Forumite
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    brettcta said:
    kelswals said:
    kelswals said:
    Please let me know if you think i should accept the offer, take it further through Resolver or ask for a higher offer?
    It's a goodwill offer which can be withdrawn completely should you "take it further". They are simply offering you money to make you go away. 

     Why would you now use Resolver when  you already have personal contact with the Customer Care Manager? 
    Resolver is just an E-Mail template. 
    Why exactly do you think the original loan was "irresponsible lending"? 
    I was topping up the loan when i needed more money.
    But if the terms of the loan allowed this and it was inside their lending tolerances (I.e. you hadn’t defaulted at the time of topping up) then again, they may not have done anything wrong
    But I had defaulted and they still allowed me to top up on the loan.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    kelswals said:
    But I had defaulted and they still allowed me to top up on the loan.
    So, it would only be the top-ups that you could realistically complain about then. 

    If the £500 significantly exceeds the amount of these top ups then you might be wise to accept the goodwill offer, as it can be withdrawn completely. Your choice...
  • brettcta
    brettcta Posts: 4,693 Forumite
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    Kevin5566 said:
    I got payday loans several times. Usually the sum was not big, I just needed money to live up to a paycheck. I always tried to pay the debt off as fast as I could in order not to overpay. And some of my friends use such services now and then. But I've never heard about the offers like you got. I should say, it sounds really good. If I were you, I think, I would accept it. 
    I’m 100% sure they’ve been holding off for the last 3 months waiting for this golden nugget of advice to arrive, well played.
    helpful tips
    it's spelt d-e-f-i-n-i-t-e-l-y
    there - 'in or at that place'
    their - 'owned by them'
    they're - 'they are'
    it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)
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