Student loans and pensions

sarahb7538

Do you have the default notices they sent in the post? I'm sure these would be accepted instead.

debtfree2016x

A friend of mine is going through the process, he has been asked to provide bank statements and a copy of his dmp assessment. He said he has no problem getting a copy of his dmp assessment but does not want to share his bank statements.
What implications will this have for him?
I havent been asked for bank statements so am of no use lol

Ginger.ice

debtfree2016x wrote: »

A friend of mine is going through the process, he has been asked to provide bank statements and a copy of his dmp assessment. He said he has no problem getting a copy of his dmp assessment but does not want to share his bank statements.
What implications will this have for him?
I havent been asked for bank statements so am of no use lol

He really shouldn't be worried about giving his bank statements to the FOS. They are very professional and subjective. I'm my experience the worse your bank statements look, the better, as it proves the level of financial difficulty you were in.


In a couple of my cases the adjudicator mentioned that my credit report should have given the lender good reason to complete further checks, such as a bank statement review. He then stated that if this check had been completed the lender would have seen how out of control my borrowings had gotten and they should not have lent to me. This was vital in the case going my way.


In another case the ombudsman came to the same opinion and the lender wanted to review my bank statements before accepting his judgement. I said they could see them even though they were highly embarrassing, and within a day they accepted his assessment and made an offer.


In summary, yes its embarrassing, but its a means to an end. If it helps prove that you were in dire financial difficulty, or if it helps to prove that you were an addict or had mental illness then it is only a positive for your case.


My latest adjudicator was very understanding, and in the end sympathetic about my situation, despite him being pretty cold towards me until he'd seen my statements. If your friend chooses not to provide bank statements it will look like he's trying to hide something and it will not help his case.

fusionx212

debtfree2016x wrote: »

A friend of mine is going through the process, he has been asked to provide bank statements and a copy of his dmp assessment. He said he has no problem getting a copy of his dmp assessment but does not want to share his bank statements.
What implications will this have for him?
I havent been asked for bank statements so am of no use lol

None he does not have to provide them.

the FOS may request them though to make an assessment but the ones I have spoken have not requested these.

paddyposh

So far MrLender has sent the generic acknowledgement.

Nothing at all yet from Sunny (Elevate)

fusionx212

I'm wavering a little, I could use the cash Wonga offered me right about now but the principle and stubbornness in me is not allowing me to weaken at the moment, getting pretty frustrated with the toothlessness of the ombudsman, although good and sympathetic to me it feels like they are happy to just wait around with out really proactively chasing wong & move my complaints forward.

SeenTheLight2016

Unfortunately I didn't keep the default paperwork after the defaults dropped off my credit file.

I have also noticed that as I changed banks a few years back, I don't have access to my bank statements as far back as my first loans with Quickquid, hopefully this won't cause an issue.

Quickquid have lied on their response to me though, they claim I only had 11 loans with them yet when I log onto my account online and check my loan history, it clearly shows I had 33!

I have printed these in case I need them as evidence in the future.

sarahb7538

I have had a reply from QQ - they have sent me the generic questions via email.

I told them it wasn't relevant if i used a template and that they should have a record of my wages and statements on file if they completed thorough affordability checks!!

fusionx212

sarahb7538 wrote: »

I have had a reply from QQ - they have sent me the generic questions via email.

I told them it wasn't relevant if i used a template and that they should have a record of my wages and statements on file if they completed thorough affordability checks!!

yep, that's correct

jackster123

Im going to have to go against the grain here regarding bank statements.

As it you who has brought the compaint, the onus is really on you to prove that the loans were irresponsible. In many cases, the lenders arent responding or providing any evidence.

Without bankstatements, the FOS have no evidence of income and expenses, which makes it quite difficult for them to assess whether a loan was affordable or not, and by not sending them when asked, you are not cooperating with the adjudicator.

You adjudicator will have hundreds of other cases, and just doesnt have the time to look for clues- you need to supply as much evidence as is humanly possible, to help them to come to a decision as quickly as possible. If you dont cooperate, and your lender doesnt cooperate, they have nothing to work with.

Your adjudicator needs to know your actual income and expenses. You could tell them that you earnt £800 a month, and your Wonga repayments might have been £600- clearly unaffordable. Without your statements, the adjudicator doesnt know whether you earnt £800 or £8000, which makes it much more difficult to make a decision on your case.

By not sending them, you open yourself up to unnecessary delays, and possible rejection. Where ever possible, send everthing you are asked for.