Student loans and pensions

Adamsssss

Morning all.

I have had a reply from Wonga. They have upheld my complaint in part and have offered a refund of £2,550.43 plus 8% interest of £818.74. Total settlement to me of £3,369.17!

I originally asked for the full amount of interest and charges paid of £3,273.15 plus 8% but considering Wonga were the first PDL I used and the first four loans (which they aren't refunding) were fairly small I think their offer is fair. There were also some smaller loans in between which they haven't included in the redress figure. There is a chance that by escalating to the FOS that I might get another £300 or so but for the time this will take it probably isn't worth it.

One thing I have learnt from this process is to think like an adjudicator. The ombudsman decisions on the FOS website is a great place to read cases that are similar to yours and helps you to plan how to proceed with complaints. I recommend to anyone who hasn't looked at these to check them out.

So all in all this will bring my total refunds so far to just under £5,000. This forum rocks!:beer:

carol1963_2

Fantastic news for all of you that you have managed to get something back from the Pay Day lenders. I've got quite a few that I would like to challenge but I haven't got a clue on how to go about it so I just stuff my documentation in a box! Not much use there but..............

Silverscreen_2

I recently complained via Money Management Team (PPI claims company), 2 of the payday loan companies came back and said it was too long ago (2009) so therefore they rejected my claim (statute barred). I'm currently thinking of taking it to the Ombudsmen. has anyway had any luck with payday loans claims dating back to 2009 or further?

ooitsme

Had a standard (I assume) and quite blameful response from QQ. No offer. One of the reasons they say there was not enough "gap" between the loans (not actually the case and disregards the fact I was juggling 6 other companies at the time).

When I spoke to my adjudicator for the first case (the first one to send me a final response) she suggested that they would keep adding them on as they got back to me with final responses. So we will see if this is the case or if I have to start afresh with each one.

It continues!

tibawo

Silverscreen wrote: »

I recently complained via Money Management Team (PPI claims company), 2 of the payday loan companies came back and said it was too long ago (2009) so therefore they rejected my claim (statute barred). I'm currently thinking of taking it to the Ombudsmen. has anyway had any luck with payday loans claims dating back to 2009 or further?

as far as i know it is nothing to do with statute barred as it is something to do with 'being reasonably' aware that you could claim. I am not sure on the exact wording but i have read it and is something i am pursuing myself.

Delete33

The FOS are looking into the six year rule so we will have to wait and see. I think there must be a lot of claims that could have been worth a lot more if every loan with a PDL was taken into account. The little man in the street gets screwed over all the time so this is not surprising, we need a ruling by a court I think? I cannot see any reason why a loan is not irresponsibly lent because it was over six years ago, if the FOS rule that we can claim on every loan then I for one would welcome this. Not sure what would happen to claims already settled though?

fatbelly

I don't see any reason why the FOS could not change their stance on this but their present position on time limits is as follows:

The complaints-handling rules set time limits for consumers to refer complaints to the ombudsman. After these time limits have expired, we will need the business’s consent to look into a complaint.

Generally, these time limits are:
six months from the business sending the consumer a final response (which has to mention the six-month time limit); and
six years from the event the consumer is complaining about (or - if later - three years from when the consumer knew, or could reasonably have known, they had cause to complain).

Special rules on time limits apply to mortgage endowment complaints.

Under the rules, we have the discretion to look at complaints that fall outside these time limits in “exceptional circumstances”. An example of this might be if the consumer was incapacitated during the period when they could have complained.

We can also look at a complaint that falls outside these limits where the business agrees to it. Some businesses are happy for the ombudsman to consider all complaints made against them, even if the consumer has missed the official time limits.

A business must say in their final response letter to the consumer whether they agree or not to us looking into the complaint if it's outside of the six month time limit. And once they've decided, they won't be able to change their mind later on.

For the purposes of applying time limits, the date a complaint is referred to the Financial Ombudsman Service is taken as the date the consumer contacts us and indicates that they want the ombudsman to consider the matter - as long as their complaint is at the stage where we can consider it.

In most cases, this is when the business has already issued a final response letter or has had at least eight weeks to consider the complaint. Our complaint form may be submitted at a later date.

Delete33

Thats it in a nutshell Fatbelly, yet again its a waiting game while the FOS make a decision. Customers suffer a double whammy, waiting for a response then their complaint is put on hold because they have asked the PDL and the FOS to look at loans pre 6 years. Its a very very very long process, however worth the wait for the majority of customers/ complainants. Just have a little Patience as the TT song goes.

Adamsssss

Adamsssss wrote: »

Morning all.

I have had a reply from Wonga. They have upheld my complaint in part and have offered a refund of £2,550.43 plus 8% interest of £818.74. Total settlement to me of £3,369.17!

I originally asked for the full amount of interest and charges paid of £3,273.15 plus 8% but considering Wonga were the first PDL I used and the first four loans (which they aren't refunding) were fairly small I think their offer is fair. There were also some smaller loans in between which they haven't included in the redress figure. There is a chance that by escalating to the FOS that I might get another £300 or so but for the time this will take it probably isn't worth it.

One thing I have learnt from this process is to think like an adjudicator. The ombudsman decisions on the FOS website is a great place to read cases that are similar to yours and helps you to plan how to proceed with complaints. I recommend to anyone who hasn't looked at these to check them out.

So all in all this will bring my total refunds so far to just under £5,000. This forum rocks!:beer:

Further to the above I have just had acknowledgement from Wonga that they have sent the refund for processing today and I should get the payment in 3-5 working days. They may take a while to look at complaints but at least they are fairly prompt in paying.

I have seen quite a few comments here and on Debt Camel where the lenders have asked for bank statements etc. to assist in looking at the complaints. Wonga asked for all of this and I was unsure at first, quite a few gambling transactions each month for the entire time I was borrowing, so I asked my adjudicator (looking at QQ complaint) what he thought. He advised that I should send them as it might mean that I get an offer I am happy with before it is picked up by the FOS. And what do you know, I got the offer quoted above.

So I guess this can be used as reassurance to whoever is in a similar situation that sending information they ask for is not necessarily a bad thing and can help towards your complaints.

ooitsme

Could I ask for a little advice please?

I've had an offer from MyJar (interest and charges around the £600 mark) saying they partially uphold my complaint and offer £111. I'm not accepting this. I want to test the water with a figure closer to £500. Does anyone have a suggestion of how to word it? If I can settle this one without FOA I'd be quite happy.

Thank you for any help.