Student loans and pensions

fusionx212

Spoke to the FOS today for an update, asked her a few questions about time scales.

a business has 90 days to respond to the fos with their argument etc.

they tend to push them for 2 weeks and they have new "ARG regulations" which allow the FOS to press businesses for a fast response this has just recently been announced

apparently wonga and quick quid are part of an FCA redress programme and this has to be taken into consideration when reviewing complaints also

I am sure this doesn't apply to if you did get a redress email, I would still challenge any redress offer if it was a small amount, i think anyone receiving emails saying we made a mistake should ask for a statement and figure it out for them selves.

FOS stated they are pleased with my case and how I've laid it out for them very helpful informed me they send all cases as bulk though and the PDL have to respond to the cases one by one from the bulk Request for information.

This is why they are happy for it to go to the FOS as FOS logs it, gets customers side waits till they have enough and then sends all the complaints for a certain period to them for their answer.

interesting way to deal with complaints.

I guess if there's such a log, it works for both sides.

apparently there's no longer a direct complaint team dealing only with wonga Complaints also for the FOS

some people prior had the ability to speak to the FOS and complain directly to them rather than going to wonga first.

but this ended recently I am told.

LMJ10

i'm completely fuming, to point where i am sitting here in tears!!

i have just had a call from Cash 4 u now - the legal dept

originally i asked her to call me back tomoro as i was just about to feed my baby she refused point blank to ring me back - i was like excuse me im just about to feed my baby she then questioned why the hell i answered my phone if i was just about to feed him!!! she was so rude to me and even was speaking to other people in the office while i was on the phone!! i asked to speak to her manager who was equally threatening and harassing - they were trying to get me to admit on the phone that i lied on my application form on my expenditure!

they then went on to basically scaring and threatening me with fraud and giving incorrect information at the time of applying - they kept running through my expenditure to me, and saying i have committed an offence if i gave the wrong information and that they were going to contact the fraud agencies!!!

they also said because the loan was only taken out weeks ago they cant understand how i got into financial hardship - i explained i had to borrow to pay back other debts/bills
they did not once offer to help me pay back the loan in a payment plan or anything just kept going on about the information i put on my application form!!! and was adament their credit checks are fool proof!!!

are they right about fraud etc or just scaring me? or are they just horrible bullies!! i'm so upset, i cant believe they have just rang me and acted like this on the phone! so rude and threatening!!!!

Karonher

I can't really help but am not sure how they know you lied about expenditure. If it was salary they could check, but how do they know what your bills are?

Have you applied for other loans and put down different figures?

LMJ10

I put down my wages which was correct I then put down my outgoings they asked for - my outgoings weren't dead On right, I needed the loan to pay off another so just put a roundabout figure, this is what they are saying is fraud
I said to them a credit check clearly wasn't done properly ( my report is awful)

jackster123

LMJ10 wrote: »

i'm completely fuming, to point where i am sitting here in tears!!

i have just had a call from Cash 4 u now - the legal dept

originally i asked her to call me back tomoro as i was just about to feed my baby she refused point blank to ring me back - i was like excuse me im just about to feed my baby she then questioned why the hell i answered my phone if i was just about to feed him!!! she was so rude to me and even was speaking to other people in the office while i was on the phone!! i asked to speak to her manager who was equally threatening and harassing - they were trying to get me to admit on the phone that i lied on my application form on my expenditure!

they then went on to basically scaring and threatening me with fraud and giving incorrect information at the time of applying - they kept running through my expenditure to me, and saying i have committed an offence if i gave the wrong information and that they were going to contact the fraud agencies!!!

they also said because the loan was only taken out weeks ago they cant understand how i got into financial hardship - i explained i had to borrow to pay back other debts/bills
they did not once offer to help me pay back the loan in a payment plan or anything just kept going on about the information i put on my application form!!! and was adament their credit checks are fool proof!!!

are they right about fraud etc or just scaring me? or are they just horrible bullies!! i'm so upset, i cant believe they have just rang me and acted like this on the phone! so rude and threatening!!!!

Oh bless you- I remember what it was like to be in the eye of the storm.

First advice- stop dealing with them on the phone. Only accept communication in writing, either email or post.

Second advice- Dont let them scare you. Lose the fear! They will be threatening and intimidating on the phone, but they wont do that in any provable form.

Third advice- In writing, inform them that you are experencing finanacial difficulties, and they have to treat you sympathetically and fairly. In your email, quote this, taken directly from the FCA guidelines:

CONC 7.3.4 R 01/04/2014
A firm must treat customers in default or in arrears difficulties with forbearance and due consideration.
B]Note[/B]: paragraphs 7.3 and 7.4 of [URL="https://www.handbook.fca.org.uk/handbook/glossary/G3330.html"]ILG[/URL] and 2.2 of [URL="https://www.handbook.fca.org.uk/handbook/glossary/G3315.html"]DCG[/URL



CONC 7.3.5 G 01/04/2014
Examples of treating a customer with forbearance would include the firm doing one or more of the following, as may be relevant in the circumstances:
(1) considering suspending, reducing, waiving or cancelling any further interest or charges (for example, when a customer provides evidence of financial difficulties and is unable to meet repayments as they fall due or is only able to make token repayments, where in either case the level of debt would continue to rise if interest and charges continue to be applied);


On this basis, request that they freeze all interest on the account, and offer a token payment for the moment.


Moving forwards with a complaint... Have you only taken one loan, or has this been on going? If its more than one, how many, and is it every month? What evidence of income and expense have they asked for? Did they request proof of your expenses via bank statements?



You'd think they'd learn from the mistakes of the past,wouldnt you?

ETA- Please dont worry about this nonesense about fraud. They are the lenders, and it is they who are regulated. They have certain responsibilities, and one of them is to ensure that your loan is affordable. In order to do this, they should be checking that you declared your income and expenses properly. Clearly, that hasnt happened. Thats on them, not you. You have nothing at all to worry about here x

Delete33

LMJ10, DO not answer the phone to them again. This is scare mongering in its worst form, only deal with these Predators in Writing. If you escalate this to the FOS in the coming weeks or months, tell the FOS what they have said to you. Tell the FCA about these Predators. If you answer the phone by mistake to them, tell them you are recording the call.:cool:

fusionx212

LMJ10 wrote: »

I put down my wages which was correct I then put down my outgoings they asked for - my outgoings weren't dead On right, I needed the loan to pay off another so just put a roundabout figure, this is what they are saying is fraud
I said to them a credit check clearly wasn't done properly ( my report is awful)

if they are doing this simply state you will not speak to them over the phone i'd also email them saying the tone in which they took with you was harassing and you'll be raising this with the FCA

consumer.queries@fca.org.uk
and you'll be raising it with the FOS along side your original complaint.

if they truly believed you lied why have they not raised this with fraud agencies when you applied, because put simply they had not performed the checks.

did she inform you the call was recorded for data protection because if they didnt then this is also a breach of your rights.

send them a request with SAR and £10 requesting a copy of all phones calls made.

not down the time they phoned you today in a planner if this call is missing then they will have to answer to ico.

casework@ico.org.uk.

personally i've got time on my hands and ive got plenty of time to show these animals who they are messing with. i encourage you to do the same. simple emails and your complaint is raised with all of the above..

fusionx212

i'd just like to say i love the response of the guys, jackster and delete, it shows true experience and community dealing with these guys, we've been here and these tactics do not work against people armed with knowledge.

Delete33

I have been threatened by lots of these idiots in my lifetime, the key is to stay calm if you do answer the phone. I just run with it sometimes as they are reading from a script most of the time. I try and get them off guard, ask for their name, and say that is a lovely name,, How old are you? Have you any young ones Etc Etc .. I always spring the: Oh by the way I must inform you that I am recording this conversation.

jackster123

fusionx212 wrote: »

i'd just like to say i love the response of the guys, jackster and delete, it shows true experience and community dealing with these guys, we've been here and these tactics do not work against people armed with knowledge.

Exactly. Knowledge is power!

Just for the record, Im chick. And my user name is almost identical to my real first name, just incase any of the payday lenders are curious. And yes, I will advise and assist folk on here, much as I have the 50,000 members of the other online community I am part of.

Quick quid and Pay Day UK- Im talking to you