Student loans and pensions

Welshie28

Adamsssss wrote: »

That is just a notification email to let you know they have received the complaint and that an adjudicator will be assigned in due course - They will then get in touch and ask for bank statements, credit report etc. so they can investigate it fully.

Hi,

The adjudicator has already investigated and found in my favour but Wonga disagreed with what she said and came back with more information, the adjudicator still found in my favour so had to transfer it to the Ombudsman, I was wondering if I would receive my final response within those 2 weeks.

Thanks.

Adamsssss

Ah ok. Sorry, I didn't realise you were at that stage!

My QQ complaint is most likely going to go to that stage on Monday so I haven't got as far as you yet...

youknowthis123

Hi all,

I've been reading this thread with great interest (no pun intended!) and astonishment! I couldn't believe the amazing results people had been getting with this refund process. Payday loans totally crippled me, and although I'm well on my way to paying them all off, this could be just the thing I need to help me over the line. So I've officially started trying to claw back some money from those on my list. Starting with QuickQuid who I have officially complained to today. It's been hard enough getting statements of accounts from these companies, but I'm just going to keep on badgering them! I will let you know how I get on.

I think a special shout out is due to Woody53 who started off this thread, and despite some pretty harsh backlash from a few members he stuck to his guns, got a load of money refunded and then some! What's more he really got the ball rolling for the rest of us, so thank you Woody53, wherever you are!

I do have a question regarding an unsecured personal loan which I took out with Everyday Loans. It really has been the worst of the lot of them, but is strictly not a payday loan. I have been in my DMP since the beginning of 2014 and they still refuse to stop my interest (circa 45 GBP per month). Do I have grounds to lodge a formal complaint with them? Or does this not fall into the same remit as the refunds discussed in this thread? The loan was without doubt unaffordable to me. It was a 1500 GBP loan taken in april 2013, I have been paying it back ever since, first few months at 200 GBP per month, then I defaulted, entered my DMP and have been paying 70GBP towards it ever since. The balance owed is still over 1300 GBP.

Any pointers would be much appreciated.

Thanks all

YKT

youknowthis123

p.s. Sorry forgot to ask something...I've read about people having an adjudicator help with their case, is this someone connected to the PDL company, the Ombudsmen or perhaps a DMP organisation?

Welshie28

youknowthis123 wrote: »

p.s. Sorry forgot to ask something...I've read about people having an adjudicator help with their case, is this someone connected to the PDL company, the Ombudsmen or perhaps a DMP organisation?

Hi, an adjudicator is someone connected to the Ombudsman. They investigate your case if the payday lenders decline your complaint, go over the time frame given or if your not happy with any offer they might offer you. If a payday lender disagrees with the adjudicators decision, it's then transferred on to the Ombudsman.

stuart30

What a complete waste of time this has been...my adjudicator has basicly swallowed the guff MyJar has fed her and completely ignored the evidence ive sent.

She refers (this has seriously boiled my !!!!) to my 79 loans with Wonga as several...she hasnt botherd looking at credit file as she states "Your credit report shows you havent been in defualt since 2010 and kept up with priority debts such as mortgage".

Have i hell as like...3 county court judements since 2011 and only just last month paid the final one off...Mortgage since 2010 until March 2014 was in arrears.
Also states that leaving it 17 days on average beetween loans is perfectly acceptable,really so if i asked my employer for a sub every two weeks he would say yes no problem...would he hell.
It also appears as i paid back on time or before due date that means i wasnt struggling money wise...no ofcourse not,thats why 2 weeks later i was skint and couldnt afford to not apply for another loan.

Below is the email which differs slightly from the letter recieved.

’ve now looked at all the information that you and My Jar have given me. Based on what
I’ve seen, I think My Jar has dealt with your complaint fairly – so I’m not asking it to do
anything.
I know this isn’t the answer you were hoping for. But I’ve explained below why I think this is
the right outcome – taking into account everything that’s happened.
your complaint
You don’t think My Jar carried out sufficient checks before lending to you.
my findings
You took your first loan with My Jar out on 19 December 2014 and have had 11 loans in
total since then.
You’ve said that if My Jar had carried out the correct credit checks then it would’ve seen
you’d had several loans with Wonga. Your credit report shows that your last loan with
Wonga was taken out in August 2013. This was over a year before you applied for a loan
with My Jar. I don’t think this gave My Jar any reason not to offer you a loan. My Jar lends
to people with poor credit. Having had previous loans with Wonga doesn’t automatically
mean it shouldn’t have lent to you. Secondly given the time that had passed between your
last Wonga loan and applying for a loan with My Jar, it was reasonable for them to take the
view you weren’t dependent on payday lending.
The evidence I’ve seen shows the majority of the loans you had were less than 50% of
your disposable income after you’d paid your mortgage. My Jar had checked your income
and aspects of your expenditure and concluded these were reasonable loans and not
unaffordable borrowing. In addition to this they ran a credit check, I think this shows that
My Jar acted fairly in the circumstances.
please write to Financial Ombudsman Service
Exchange Tower
London
E14 9SR
dx 141280 Isle of Dogs 3
website https://www.financial-ombudsman.org.uk
2
I’ve seen evidence to show My Jar declined the last loan you requested because it noted a
change on your credit file. It’s shown that the credit bureau believed you had several credit
commitments at that time. This doesn’t mean that it shouldn’t have offered you any of the
loans and I can’t say it’s unreasonable.
It’s also worth noting payday lenders can change the criteria under which they approve
loans. This would be a reasonable exercise of their commercial judgement and not
something our service would generally interfere with.
You had a good payment history with My Jar as you paid each loan back before the
repayment date. This indicated you were not in financial difficulty. Additionally you didn’t
immediately request a new loan as soon as you’d paid the last one off, this means there
were no signs to My Jar that you were dependent on their loans. My Jar has offered to
refund the interest on one loan that you did take out shortly after you’d paid the last one.
It’s my opinion that this is fair.
My Jar has provided me with evidence to show it carried out credit checks throughout the
time you borrowed from it. It also looked at your income and outgoings and your
indebtedness data. Your credit report shows that you hadn’t defaulted since 2010 and had
kept up to date with priority debts such as your mortgage.
Based on this, My Jar concluded that it was providing you with affordable borrowing. I think
this was a reasonable position for My Jar to take given the information available to them at
the time.
Taking everything into account, I don’t think My Jar has acted unreasonably and I think it
carried out sufficient checks before lending to you. It follows that I’m not going to be able to
recommend your complaint be upheld.
my conclusions
For the reasons above, I’m unable to uphold your complaint.


Well as ive said if she botherd to look at credit report she would see its not pretty with missed payments and late payments along with CCJ"s....still why bother when MyJar can give you all the facts you need...lol

Just to clarify its not the decision that angers me,its the way she has skimmed over it...credit report can not have been looked at and refering to 79 loans as several is just dismissive.

sourcrates

Stuat30,

Put it all in writing, include evidence, ask for it to go before an ombudsman.

Adamsssss

Well after 7 and a half weeks Wonga said they were looking into my complaint and it would take up to 8 weeks for a decision! No thank you, the original 8 week mark is up today so that has gone to the FOS.

They were the first PDL I used and is worth the most to me - over £3,000 paid in interest and charges. They lent more than my monthly pay in some cases so I am hopeful of a good outcome with them.

Also, Payday UK is now at the 8 week stage and I haven't heard a thing from them so that will be going to the FOS today too.

Payday Express waiting to be assigned to an adjudicator.

Quick Quid have until today to respond to mine and adjudicator's proposal or that will be escalated to and Ombudsman.

sacha28

Still waiting to hear from FOS....I had account statements emailed to me from wonga which suggests they have had contact with the FOS, this is the first time wonga have done anything other than acknowledge, then reject, my complaint.. Just waiting...still...for an adjudicator.

youknowthis123

just heard back from Mr. Lender. To be honest I only had 125 outstanding with them, and a default on my file. I only rolled over once and took just the one loan. But I thought I would complain anyway as this was all part of my downfall. Anyway, two emails later and they have written to me stating that they do not agree that the loan was unaffordable etc... but as a gesture of goodwill they will wipe my balance, clear the default and close my account. I'm happy with that, and see no point in fighting for more, it is afterall a better result than I expected!

YKT