Student loans and pensions

Ginger.ice

evelynwaughwasaman wrote: »

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.

As stupid as it sounds, the more embarrassed you are by your bank statements the better a chance you will have of a positive outcome. Everyone on this thread is embarrassed or disappointed by past decisions, but it didn't take a lot for us to be trapped by these predators.


My advice would be completely honest with the FOS. The ones I have dealt with have all been very professional and haven't been judgemental in the slightest. My issue was a gambling addiction, I told the FOS (expecting them to judge me) and they actually used it in my favour, as my credit history should have been a clear indicator of more than just short term cash flow issues.


I was in the same boat as you, I thought I'd put this chapter of my life behind me. And whilst this whole process can take a long time and re-open old wounds, you will feel a huge amount of satisfaction when you get your complaints upheld. You will feel justice that these exploitative scumbags get their comeuppance, plus there will be a nice bit of cash coming your way too.


Every complaint allocated to an adjudicator costs the PDL £550 regardless of whether or not it is upheld. So even if you just want to cause them some disruption, get those complaints in.


Also if they make complaining more difficult than it needs to be (e.g. unnecessarily delays, withholding info, etc.) then inform the FCA. They have the power to fine the PDLs and even suspend their ability to trade if they are not acting properly.

jackster123

PDUK- tend to completely ignore you. This is the case with all Dollar companies. I think they think you will get bored and go away. They will ignore any request for an update, you just have to sit tight and wait for the 8 weeks to finish. Then you will have to call and ask for your final response, which will say they havent completed their investigation. They wont give a timescale, so you might be waiting for ever!

QQ- This shower are one of the worst. They will send you a massive questionaire after a couple of weeks, demanding bank statements, pay silps, credit report... they even want to know which website you got your template from! This is designed to make the complaint look like too much effort, and they hope you will ignore the questionaire so that they can ignore your complaint. Dont ignore it, but you are no obliged to answer any of their questions either.

If they had leant responsibly, they would already have all of your bank statement and credit check info, and its none of their business if you used a template! I have a reply to this saved somewhere so shout if you need it and Ill post it here when you get to that point.

What to expect after 8 weeks with these 2- they will most probably ignore requests from the FOS adjudicator. This means the FOS will base their decision purely on information that you supply. The more you send, the better. If you appear to cooperate, and the lender doesnt, it puts you in a good position.

The complaint will probably go to the ombudsman, which will take a few more weeks. They usually agree with the adjudicator, so if you get a good initial result, that isnt likely to change.

They are not easy companies to deal with, but I havent seen a single complaint about irresponsible lending get to the ombudsman and not be upheld with pay day uk, so you have good odds!

debtfree2016x

Spoke to adjudicator on Monday who said he would refer my complaint to Ombudsmen as Casheuronet didn't agree with his recommendations.
Had confirmation from adjudicator that everything has been sent to Ombudsmen now.
The end is near!!

Danni8787

Hi everyone,

I'm just wondering how much you were borrowing per month?

With QuickQuid it started with £50 then upto £400 (with top ups)
With Wonga it started with £200 then upto £600 (with top ups)

I was on a wage of £1000-£1200 at the time. I'm worried because I didn't take the full amount that was offered (£900 with QQ and £750 with Wonga) if the FOS will see the loans I had affordable? I mean they really weren't, I took a loan out the next day or even the same day of paying one off but because they weren't huge amounts I am worried this go against me? Or is it more on the frequency of the loans? I took a loan every month 2011-2013.

fusionx212

Danni8787 wrote: »

Hi everyone,

I'm just wondering how much you were borrowing per month?

With QuickQuid it started with £50 then upto £400 (with top ups)
With Wonga it started with £200 then upto £600 (with top ups)

I was on a wage of £1000-£1200 at the time. I'm worried because I didn't take the full amount that was offered (£900 with QQ and £750 with Wonga) if the FOS will see the loans I had affordable? I mean they really weren't, I took a loan out the next day or even the same day of paying one off but because they weren't huge amounts I am worried this go against me? Or is it more on the frequency of the loans? I took a loan every month 2011-2013.

the point here is that the interest was not reasonable on loans and they knew this allowing people to take high interest monthly loans repeatedly.

This affected peoples priority bills and they had to borrow again for the next month to survive which means had they adequately reviewed peoples affordability.

This wouldn't of been a massive mess that it is today. poor lending has caused these companies this pain.

they were happy to give you more and more repeatedly all the while you're slipping into a big debt puddle.

This is not a reasonable process after the fca go involved things changed the industry massively,

wonga recently lost £80million quid due to the changes, my gripe with pdl's how negative an effect they had on your credit file.

I was originally told it would help improve my credit rating as well.
ironic really. stick to your guns with these guys all you can do get your facts and information sorted and you have a solid case.

evelynwaughwasaman

Ginger.ice wrote: »

As stupid as it sounds, the more embarrassed you are by your bank statements the better a chance you will have of a positive outcome. Everyone on this thread is embarrassed or disappointed by past decisions, but it didn't take a lot for us to be trapped by these predators.


My advice would be completely honest with the FOS. The ones I have dealt with have all been very professional and haven't been judgemental in the slightest. My issue was a gambling addiction, I told the FOS (expecting them to judge me) and they actually used it in my favour, as my credit history should have been a clear indicator of more than just short term cash flow issues.


I was in the same boat as you, I thought I'd put this chapter of my life behind me. And whilst this whole process can take a long time and re-open old wounds, you will feel a huge amount of satisfaction when you get your complaints upheld. You will feel justice that these exploitative scumbags get their comeuppance, plus there will be a nice bit of cash coming your way too.


Every complaint allocated to an adjudicator costs the PDL £550 regardless of whether or not it is upheld. So even if you just want to cause them some disruption, get those complaints in.


Also if they make complaining more difficult than it needs to be (e.g. unnecessarily delays, withholding info, etc.) then inform the FCA. They have the power to fine the PDLs and even suspend their ability to trade if they are not acting properly.

Thank you, Ginger.ice. This really made me feel better. In my case, I had a spending addiction, which sadly is seen as a frivolous addiction compared to others. Oh well, it is what it is.

Well done on your successes and also with getting your gambling under control. Your contribution to this thread has been some of the best so thanks for sharing your story.

Ginger.ice

evelynwaughwasaman wrote: »

Thank you, Ginger.ice. This really made me feel better. In my case, I had a spending addiction, which sadly is seen as a frivolous addiction compared to others. Oh well, it is what it is.

Well done on your successes and also with getting your gambling under control. Your contribution to this thread has been some of the best so thanks for sharing your story.

Remind the adjudicator that all addictions (regardless of how frivolous they appear to be perceived) are widely accepted as a mental illness. And having a mental illness makes you more vulnerable to the underhand profiteering of these predators. You were a prime target who they intended to milk for all you were worth.


If your affordability declarations suggested you had significant amounts of expendable income, but you had to keep on using payday lenders on a continuous basis, then that should have been a clear indicator of either an addiction or a total lack of control. Either way a sensible lender would have identified this total contradiction and done some more investigations before lending to you.


If the lender also completed credit checks then it would have even more information to see that the affordability declarations could not be accurate. This argument has rightly convinced even the most sceptical of adjudicators that I dealt with.


In my case I was declaring £1400 of expendable income per month (which was accurate before you accounted for gambling losses). With this level of expendable income why would I ever need a PDL? Why would I have 5 recent defaults on my credit file? Why would I have over 100 PDLs on my credit file over the last 2 year? Why would I need to roll over and top-up loans?


The two aspects of the credit check should marry up, otherwise they should have done more investigations.


Take them to the cleaners Evelyn.

jackster123

^ This is a brilliant post Ginger. I have spoken to many people who are nervous about a claim due to gambling transactions on their bank statements. You have a real way with words, and that post will put 100's of minds at rest.

I could never have put it as eloquently as you have. Brilliantly written and worded

:T:T

stuart30

Guys I'm not sure if this worth chasing or if amounts are too low regards intrest paid back.


I had several loans with MyJar...previously used Wonga a lot but they just cut me off one day.


Having read a few posts on this thread and debt camel,ive contacted My Jar and Wonga for account statements,My Jar has responded and issued these as requested.


However there email sounds as if ive got no chance of claiming back intrest...I did indeed pay back each time in full and sometimes early...but then a few days or a week or so later I needed another loan.

Heres what they have said...some advice would be great.


Please note that we have never allowed roll-overs or top ups. An existing loan has to be paid before a new advance can be requested.

At the time you took your first loan with us on 19/12/2014, we undertook a number of checks which included searching on public databases, fraud checks and our own credit scoring. In addition, we relied upon the information that you provided concerning your income from " ##### ##### Security", which you stated was £1,300 per month against which you had £400.00 of housing costs a month.

Under the regulations that were in force at that time you took your first loan with us, lenders were required to make checks that were proportionate to the credit being granted.


The only issue with that is I didn't even know the employer they list until mid December 2015...so wouldn't have listed them at that time...they are my current employer as said since mid December 2015.


Are they correct in saying basicly cant look at a claim or should I still go for it.

fusionx212

stuart30 wrote: »

Guys I'm not sure if this worth chasing or if amounts are too low regards intrest paid back.


I had several loans with MyJar...previously used Wonga a lot but they just cut me off one day.


Having read a few posts on this thread and debt camel,ive contacted My Jar and Wonga for account statements,My Jar has responded and issued these as requested.


However there email sounds as if ive got no chance of claiming back intrest...I did indeed pay back each time in full and sometimes early...but then a few days or a week or so later I needed another loan.

Heres what they have said...some advice would be great.


Please note that we have never allowed roll-overs or top ups. An existing loan has to be paid before a new advance can be requested.

At the time you took your first loan with us on 19/12/2014, we undertook a number of checks which included searching on public databases, fraud checks and our own credit scoring. In addition, we relied upon the information that you provided concerning your income from " ##### ##### Security", which you stated was £1,300 per month against which you had £400.00 of housing costs a month.

Under the regulations that were in force at that time you took your first loan with us, lenders were required to make checks that were proportionate to the credit being granted.


The only issue with that is I didn't even know the employer they list until mid December 2015...so wouldn't have listed them at that time...they are my current employer as said since mid December 2015.


Are they correct in saying basically cant look at a claim or should I still go for it.

go for it, you have to bear in mind they don't want to pay anyone back even though they were in the wrong. challenge them and use the info you stated to your benefit as long as your bank statements credit reports show lots of loans and roll overs...

be patient state your complaint clearly , also ask them to remove all incorrect loans from credit file.