Student loans and pensions

a_fresh_start_:)

Many thanks Delete, I certainly will keep you all updated!

fusionx212

Good work fresh start, I phoned Ombudsman today and was pleasantly surprised she was very empathetic and understood my side of the story against pdl's she decided to pick my cases up there and then.

I put my complaints in via resolver.co.uk for myjar and quick quid,

wonga had all emails I provided credit reports and statements and correspondence in my initial email.

The adjudicator liked this saying I have set my case out very clearly and will make the process a lot more smoother.

So i suggest anyone sending complaints to the FOS to get your ducks in a line, get your credit report and your statements alongside all emails and final responses hand it to them and let them go through it.

I am not 100% confident on my myjar claim as didn't have a lot of loans with them but Wonga is the one I am gunning for 25+ loans rolled over. so i may get an update fairly sharpish from them now,

fusionx212

a_fresh_start_:) wrote: »

Afternoon everybody. I have been reading this thread from end to end over the last few days and last week decided to try it for myself.
I managed to get myself in a huge financial mess from 2008. I continually borrowed from payday lenders right up until the end of 2013...where I was in such a mess and entered a DMP (This was paid off within a year)
I previously had loans with Quickquid, Payday UK, Payday Express, Lending Stream, Wage Day Advance and CFO Lending.
Last week I contacted all of the companies via the Resolver tool, now currently waiting to see what will happen.
Although some of my borrowing stemmed from 2008 I have only looked at the figures for the last 6 years. They have shocked me and i do not know how I sustained the payments for so long.
Below is the amount borrowed followed by the total amount paid to each lender over the last 6 years.
QuickQuid £5150 borrowed, £13927 paid back
Payday UK £1980 borrowed, £10226.53 paid back
Payday Express £1395 borrowed, £6608 paid back
Lending Stream £4035 borrowed, £10745.84 paid back
Wage Day Advance £850 borrowed £1164.43 paid back
CFO Lending 735 borrowed ?£2525.49 paid back

When looking at my old quickquid account, I can see that I had 66 loans with them from 2008 and 2013. Every single month I either rolled over the loan or re-loaned the very same day.
I truly believe this is a fine example of Irresponsible lending, these companies should have realised something was wrong a long time ago.
Pleased to say I have no outstanding balances on the above accounts and debt wise now Ionly have an overdraft and 2 credit cards.
Lets hope for a bit of success!!!

last 6 years.
QuickQuid £5150 borrowed, £13927 paid back
Payday UK £1980 borrowed, £10226.53 paid back
Payday Express £1395 borrowed, £6608 paid back
Lending Stream £4035 borrowed, £10745.84 paid back
Wage Day Advance £850 borrowed £1164.43 paid back
CFO Lending 735 borrowed ?£2525.49 paid back


I worked out what your loan amount was compared to interest paid

the amount is disgusting

8777
8246
5213
6710
314
1850
= £29445

your total redress is worth nearly 30k
Fresh start pursue them all i hope you seriously do. this is shocking you could probably pay all of your debts off and have all the credit references for the loans removed.

Delete33

Good Luck Fresh Start, the figures in your case are astounding, I am with you all the way if you need any information.

jackster123

Good grief fresh start, that is one of the worst I have seen, particularly PDUK.

I hope you manage to get this all sorted. Every one will help you in any way they can. This is an awful lot of money, its definately worth chasing x

Delete33

Sorry fresh start, I agree with jackster123, Everyone on here will help you!!!!!!!!!!!!!!!!!!!!!!!!

a_fresh_start_:)

Thank you all for your support. £30K is so much like I said before I dont know how I sustained the payments. I really hope I get a good result especially since my debt is now only £3500
So far Lending Stream has asked me to pay £10 for an SAR - I have explained that this is not required as I have all of the information and asked them to look into the complaint.
Payday Express has passed complaint to relevant team and said they should be in contact within 5 days.
I have asked WDA for a statement of accounts as my online login no longer works - they said they would supply this within 40 days.
Have not heard anything from QQ, PDUK or CFO.
A quick question....if I do not hear a thing not even an acknowledgement in 8 weeks can I go straight to the FOS?
Many thanks

Delete33

Yes fresh start, go ahead after 8 weeks from you e-mailing your request for statement of accounts. As I have said during the 8 weeks get a copy of your credit report ( £2 for an e-mail copy with Experian on line ), Bank Statements from beginning borrowing to ending.:cool:

fusionx212

a_fresh_start_:) wrote: »

Thank you all for your support. £30K is so much like I said before I dont know how I sustained the payments. I really hope I get a good result especially since my debt is now only £3500
So far Lending Stream has asked me to pay £10 for an SAR - I have explained that this is not required as I have all of the information and asked them to look into the complaint.
Payday Express has passed complaint to relevant team and said they should be in contact within 5 days.
I have asked WDA for a statement of accounts as my online login no longer works - they said they would supply this within 40 days.
Have not heard anything from QQ, PDUK or CFO.
A quick question....if I do not hear a thing not even an acknowledgement in 8 weeks can I go straight to the FOS?
Many thanks

yes go straight to the FOS. these companies are pretty poor at talking to people with complaints, you have keep patient and keep chasing them don't lose heart i genuinely think you have one of the best cases here.


F.Y.I the FOS told me that are now allowed to get involved in complaints earlier than 8 weeks at the approval of the company involved.

this is a new rule they are introducing I had a final response from myjar who then turned around on it saying it was not a final response,

as I pulled them on the fact they had not placed the fca financial escalation details in that response.

the adjudicator said she would contact them and ask if they want it to be picked up sooner.

evelynwaughwasaman

Just checking in to say I got my SOAs, although Payday Express requested £1 and it was done via post so a total faff! I've since contacted all mine (minus Cash Genie, still awaiting SOA) this week to complain.

I am feeling so nerve wracked over this, I won't lie. I think it's because I thought I had put all of this behind me. The last PDL I had was settled in March 2015 so re-opening that can of worms has been... strange.

Looking through bank statements etc is SO depressing, it makes me feel like such a failure. I really hope that if it ends up going to FOS they don't ask for bank statements because I am so embarrassed by them.