Student loans and pensions

stuart30

Delete33 wrote: »

Thats it Stuart30, we have all the time and patience and we are not going away, even though the PDL are using dirty delaying tactics. See it through till the end conclusion.:cool:

Ive fired off an email to Wonga...whilst most loans were small as in sub £100 and paid off quickly,id say 73 of them was pretty obvious i wasnt coping well with money.:o

jackster123

stuart30 wrote: »

Ive fired off an email to Wonga...whilst most loans were small as in sub £100 and paid off quickly,id say 73 of them was pretty obvious i wasnt coping well with money.:o

I usually ask for a statement as part of the complaint- that way the ball is rolling, but you will have the loan statement as and when it goes to FOS.

I would imagine, if your loans were consecutive without any gaps, you will be refunded for all loans after the 3rd or 4th. As a rule, the FOS say that by that point, you were obviously reliant on PD loans, and they should have looked more carefully at your next application. Thats not a promise, but its the way a lot of them seem to go.

Good luck xx

foxtrotoscar_2

stuart30 wrote: »

Fresh question guys...ive not heard back from Wonga yet,however my credit report does show ive had 73 loans from wonga from 19-4-12 to 24-9-14 total borrowed £9221.

Would i be correct in thinking thats all the info i need to start a complaint...just done my My Jar complaint and thats pretty much all (info wise) ive sent...or do i need to highlight intrest i paid etc.

Im assuming 73 loans..thats fresh loans as i would pay them off and next day or day after find im skint from paying loan off...that would be classed as irresponsable lending..?

Nope, it sounds more like irresponsible borrowing. You managed to pay the loans so they were affordable.

Delete33

Disagree with you foxtrotoscar, The PDL has breached FCA rules, it is a classic case of irresponsible lending of unaffordable loans once again by a Predator.:cool:

jackster123

^^ Im with Delete. You only managed to pay them because you took another loan. Its clear from the pattern of borrowing that you were reliant on payday borrowing, so it would have been responsible of Wonga to come to an affordable payment plan, rather than rub their hands together with glee, and continue to issue more high interest loans, making your situation worse.

There are very clear FCA guidelines on sustainable and responsible lending.

Dont be put off. I think you have an excellent chance of success, purely based on the number of loans.

fusionx212

foxtrotoscar wrote: »

Nope, it sounds more like irresponsible borrowing. You managed to pay the loans so they were affordable.

Seems like you don't know much of anything... 73loans is not normal lending. When Was the last time a bank offered you repeatedly to that amount they don't.

you do not know his circumstances yet you feel the need to interject with your expert opinion when you clearly don't know the subject matter you are talking on.

Heaven forbid a company you use breaks the rules.. i assume you'll just say thank you may I have more. Age old MSE same old judgemental attitudes.. Stuart put your complaint in and see you get your redress for their targeted and deliberate money making schemes to which has trapped thousands into debt. Foxtroscar disagree's but I'm sure in his manor house everything is peachy..

DanDaniel

Morning

After reading post on here, and as a person getting trapped in the PDL cycle I decided to give it a go. I had approx 30 loans from Wonga and QQ. I estimate that it cost me in excess of £6000 in interest alone. I have my credit files showing the inability to pay back priority debts etc at that time and evidence of severe financial hardship following entering this cycle. We almost lost our home because of it. I'm happy to say that's all behind me now!

Quick question, I wrote to QQ and Wonga 2 weeks ago requesting statement of accounts with them listing all the details they may need to Trace these loans, I haven't heard a thing from them, not even an acknowledgment of my request, so following advice on here I submitted my complaint with the limited info I have of my credit file.
I still haven't had a response or acknowledgment and I feel as though my lengthy complaint documents to both companies have not been received, although in sure this isn't the case. So I set the time rolling with them stipulating the time frame of 8 weeks for response but do I need to do anything to verify they have this complaint in there hands? Or could they simply turn around when it's time to go to the ombudsman and say they never received it ? Any thoughts ?

Also, if it gets to the ombudsman stage, how long do they take to investigate ? I had a PPI complaint with them that took 2 years to resolve and I hope the same isn't said of PayDay complaints.

I have tried calling QQ and wonga but no answer.

Thanks All :-)

fusionx212

DanDaniel wrote: »

Morning

After reading post on here, and as a person getting trapped in the PDL cycle I decided to give it a go. I had approx 30 loans from Wonga and QQ. I estimate that it cost me in excess of £6000 in interest alone. I have my credit files showing the inability to pay back priority debts etc at that time and evidence of severe financial hardship following entering this cycle. We almost lost our home because of it. I'm happy to say that's all behind me now!

Quick question, I wrote to QQ and Wonga 2 weeks ago requesting statement of accounts with them listing all the details they may need to Trace these loans, I haven't heard a thing from them, not even an acknowledgment of my request, so following advice on here I submitted my complaint with the limited info I have of my credit file.
I still haven't had a response or acknowledgment and I feel as though my lengthy complaint documents to both companies have not been received, although in sure this isn't the case. So I set the time rolling with them stipulating the time frame of 8 weeks for response but do I need to do anything to verify they have this complaint in there hands? Or could they simply turn around when it's time to go to the ombudsman and say they never received it ? Any thoughts ?

Also, if it gets to the ombudsman stage, how long do they take to investigate ? I had a PPI complaint with them that took 2 years to resolve and I hope the same isn't said of PayDay complaints.

I have tried calling QQ and wonga but no answer.

Thanks All :-)

they have 8 weeks to respond and issue a final statement, they usually acknowledge with in 5 days.
feel free to keep emailing them, and even use twitter to call them out publicly and trust pilot also.

if it gets to the end of the 8 weeks and they havent responded go to the ombudsman. - they have 12 weeks to pick the case up and handle it for you - investigation is not limited by time.

you have sent your letters they have not replied, that plays in your favour let it go to the FOS. it'll cost them £550 quid if you win.

make sure you've asked for all fee's+interest and 8% statuatory interest

stuart30

foxtrotoscar wrote: »

Nope, it sounds more like irresponsible borrowing. You managed to pay the loans so they were affordable.

Shock Horror...yes i agree it was incredibly irresponsible borrowing,but when you need to pee you need to pee,same as when your skint and cant pay the Water bill or Council tax maybe petrol for getting to work,sadly having no family to ask for help...these pay day lenders suddendly dont look such a bad option.

However when you get sucked into borrowing its hard to break the cycle...yes i made damn sure i paid the loan back on time to avoid charges...but then you dont have enough money for bills or as said getting to work,so you borrow again...its not something i enjoyed doing but needs must when you have no option.

Thankfully now im in a much better postion (cut bills down such as Virgin/lower phone contract) and dont need to rely on Pay day lenders.

If you have never been trapped in the cycle of pay day lenders then i appreciate you wouldnt understand and hope your never in that postion.:beer:

stuart30

jackster123 wrote: »

I usually ask for a statement as part of the complaint- that way the ball is rolling, but you will have the loan statement as and when it goes to FOS.

I would imagine, if your loans were consecutive without any gaps, you will be refunded for all loans after the 3rd or 4th. As a rule, the FOS say that by that point, you were obviously reliant on PD loans, and they should have looked more carefully at your next application. Thats not a promise, but its the way a lot of them seem to go.

Good luck xx

Thanks to all the above who have replied...appreciate the advice/help.

Yeah pretty much every other week or even a few days...:(

When you say you will be refunded for all loans after the 3rd or 4th loan...i assume you mean the intrest i paid..?

I did request a statement but whilst waiting looked at credit report and was quite honestly staggerd at the sheer amount of them...so totaled up all loans and sent complaint in...hope ive done the right thing.

Just as a side note...for anyone thinking its wrong to be reclaiming,if i get anything back its going towards obtaining Plant license so try and make sure im not out of work in the future,so hopefully some good will come out of a bad situation.