Student loans and pensions

Mrs_Ryan

Had a great result with the help of Sara from Debt Camel- WDA and Speedy Cash (had no idea these were the same people) written off on medical grounds- my complaint about unaffordable lending was not upheld so I sent them medical evidence and requested write off on medical grounds. Initially they said no but they've now changed their mind.
Had my payout from PDUK- surprisingly quick. There's just Payday Express and the Money Shop left now- still have to chase up Money Shop with the FOS as forms not recieved.

To recap-
Lending Stream- balance written off and £72 refund- there was only a couple of loans with them.
Sunny- balance written off, all traces removed from credit file, now with FOS for compensation for distress caused when they cleaned out my bank account at 7pm on Xmas Eve when they had agreed a payment plan;
Speedy Cash- balance written off;
WDA- complaint not upheld but balance written off on medical grounds;
MyJar- balance written off;
PDUK- refund of interest of final eight loans and balance repaid from refund.
Remaining-
Payday Express and the Money Shop.
MiniCredit- on permanent hold, details requested from OPOS.

Danni8787

Hi Adams,

Unfortunately it is much harder to get a result from 1 or 2 loans, I had 1 loan with Mr Lender, they rejected then the FOS rejected.

However if you rolled the loan over multiple times and topped up you may have a case, especially if you then took out a second loan.

My advice to anyone would be to try anyways, all it takes is an email. Expect nothing and you wont be disappointed

Adamsssss

Thanks Danni.

I have a few like that. Like you say it's worth a try, the worst that can happen is they say no.

I so far have sent a few emails. Wonga, QQ (now with ombudsman), Payday UK & Payday Express are the big ones. I had 40 separate deposits from Wonga over about 2 years. One of them was for £1,000 when I was being paid around £860 a month at the time!

Some others where I think I have a case are with Lending Stream, Wage Day Advance, Mr Lender and Ferratum. Just saying them all makes me shiver!


Could I also ask, when you complain to the ombudsman, do they send you an email or a letter? I didn't have an acknowledgement once I'd submitted it, just a case number on screen. From what I've read I think someone will be in touch once an adjudicator is assigned to it. Is this right?

Danni8787

Exactly, If I was you I would try with every loan.

The fact you had loans with many different lenders will be in your favour.

£1000 loan on a £860 wage, wow. Sounds like you have a great case tbh, I only had 7 loans with Wonga and 1 top up which ranged from 85-£600. They refunded me on 5 of those loans + 8%.

I sent my complaint about QuickQuid via the FO website, they asked on the site how I would like to be contacted and i ticked email... Did you tick any? I got an acknowledgement email within 2 days then I was assigned to an adjudicator just over 5 weeks later. You could email them and ask for confirmation, they usually get back to you within 48 hours.

Danni8787

Hi everyone,


So when you get an offer through the adjudicator do they not give you the exact figure?


Mine was offered from the 9th loan which i declined. However before i declined I asked what the offer amount was and they wouldn’t tell me?

fusionx212

Hello guys, not been on in a while, so I've been chasing my adjudicator. wonga offered me 2470 but i said no.

adjudicator believed all loans from the 4th borrowed was not affordable so advised she is likely to uphold my complaint. I am happy with this but she has not provided their final decision.

she keeps advising they need to go the a team for the cases to be reviewed.

I am hoping to have it sorted by this week\next week as pretty skint to be honest, money would help my clear my financials up nicely. which is always my intention the debt these things got me in will help get me out.

I am expecting just under 4k back so will wait and see. have to keep chasing the FOS

Adamsssss

Had an email back today from the ombudsman saying they are looking into my claim with QQ and will get back to me within the next two weeks. I sent the complaint in to them on Friday so nice and prompt so far.

Peachy replied to me this morning (I only sent them the email on Saturday!) saying they will not be upholding my complaint. I only had one loan from them but I was still using/making payments to plenty of others when I took it out so would it be worth escalating this one to the ombudsman?

Ginger.ice

Final Update - The FOS ombudsmen has upheld my final outstanding complaint. This one was against Uncle Buck. They argued to the very end that they had the right to take a commercial risk based on the information they had. The Ombudsmen disagreed and has ruled that all loan interest (+8%) is repaid, plus credit file redress.


Its not my biggest claim by a long shot (c. £500), but its very gladly received.


The whole process has taken 9 months - 13 complaints in total:
10 upheld
3 rejected (I'm still not sure how - just the luck of the draw I guess).


Total redress - £6,326
Loans removed from my credit file - 71


Total FOS fees incurred by the scumbags PDLs - £5,500.


Unless something weird happens I won't be posting on here any more, but I would like to thank the OP and all other contributors, and wish everyone the best of luck in getting the redress you deserve.


Don't give up, the FOS is mostly favouring us at the minute, so don't be afraid to take it all the way.

Adamsssss

Hi all.

I have received a final response today from Mr Lender. Quick background about this one:

I took two loans out with them. First loan was for £200 (less £17 transfer fee so £183 deposited) in October 2012. Eventually repaid £469 with final payment being in May 2013. This was made up of some rollovers plus a repayment plan.

Second loan in June 2013 also £200 (less £17 so £183 deposited). Repaid £419.05 in a similar situation to the first loan.

So in total I borrowed £366 if you exclude the transfer fees and repaid £888.05

They have offered me a refund of £219.00 which is the interest paid on loan two. Considering I wasn't expecting anything from this one I was surprised to be offered anything at all, however, would this be worth escalating to the ombudsman in the event that I could then get 8% interest added to this? Or is it possible to negotiate with Mr Lender even though they have said it is their final response if I mention I am considering taking it further with the FOS.

Even more shocking is the fact I sent my email to them on Saturday. In two days I have had an offer.

Many thanks. I look forward to the day I can give the advice to others!

Danni8787

Personally I think thats a really good offer for only 2 loans.

However you could ask Mr Lender to add the 8% and mention if they agree they would save the £550 they would have to pay if you went to the FOS.