Student loans and pensions

SeenTheLight2016

A quick update, haven't had any news for a while!

My adjudicator agreed that Wonga acted irresponsibly and they since made an offer of £1022, the is for 7 loans....... I had a total of 49 loans with them.

I have rejected the offer and asked my adjudicator to pass this to the ombudsman now.

I'm a little worried as I don't want to end up with nothing but only refunding 7 of the 49 loans is strange really!

Does anyone now how long it takes once the adjudicator forwards this to an ombusdman?

Delete33

Hi SeenTheLight2016, some cases are dealt with under six weeks, it is not easy to state a timescale though.:cool:

SeenTheLight2016

Thank you, I have asked my adjudicator to let me know what she recommended Wonga do, if she feels more than 7 loans should be refunded than I will definitely want the ombudsman to make the final decision.

nobodyknowswho

Cheers for the advice, sent it off today. Also go one with QQ where I paid £4,500 in interest in 4 years

[Deleted User]

Delete33 wrote: »

WONGA in the news again Cowboys!!!!!!!!!!!!!!!! Robbing people of their hard earned last Friday.

The poor people who truly deserve compensating.

bennzy

A bit of an update on my situation and maybe some advice please?

About my case:

- I had 29 loans with wonga from 2010 - 2013.
- Wonga offered me £1600 which I rejected. They stated they thought 5 out of the 29 loans were unaffordable
- I took it to the ombudsman who assigned an adjudicator and within 5 weeks had come to a conclusion on this that 24 out of the 29 loans were unaffordable.
- However, as my last loan with Wonga had already been repaid under the redress scheme by the FCA the ombudsman and FCA were revisiting their stance on these types of cases and which one of them should look into it
- My adjudicator informed me that unfortunately she couldn't give me a time scale on how long this was going to take
- it's been 15 weeks since it was sent to the adjudicator and 10 weeks since her first decision

Does anybody know what steps I can take to speed this process along or whether I have an opportunity to complain about this to the ombudsman? On their website it does say if you're not happy with the length of time then you can complain although I don't want that to hinder my original complaint about wonga.

I would have thought the FOS would have some sort of time frame to resolve complaints as they're strict on the 8 week deadline for companies.

Any help is much appreciated

Thanks

bennzy

So not sure whether my adjudicator reads this thread but she's responded as soon as I posted that last update with another offer from wonga.

Wonga have offered to refund you the interest and fees on all loans from 20 December 2011 to 25 June 2013 and pay 8% simple interest. They’ll also arrange to have these loans removed from your credit file. This amounts to £2,298.07. As you’ll see, this offer differs from the one I recommended in my email dated 3 August 2016. But it’s up to you to decide whether or not you wish to accept Wonga’s offer.

She's also stated that there is still no update on the talks between the FCA and the FOS.

Really unsure what to do the offer is much lower than I'd expected but I could really do with the money. I could accept it and then find out tomorrow that the FCA and FOS have come to an agreement or I could reject it and potentially wait months for a conclusion in which I might not even get anything

cashburner

An update from me.


So far complaints issued & responses. All complaints issued 25/26 September, maybe give a guide on how long you wait at least for a response, although reading this thread it does seem like they are making it up as they go along


247 Moneybox - No response
Peachy - Claim rejected, now with FOS
Early Pay Day - Acknowledged complaint
Ferratum - Acknowledged complaint
Lending Stream - Claim rejected, now with FOS
Mini Credit - No Response
Pay Day Express - Acknowledged complaint
Sunny - No response
Trusted Quid - Acknowledged complaint
Uncle Buck - Requested information (credit file etc.), sent.
Wage Day Advance - No response
Wonga - Complaint Acknowledged
1 Month Loan - Complaint Acknowledged


It's interesting to see how many different situations people are in and the wide range of circumstances, many have had literally dozens of loans with one or two lenders, obviously I've used multiple lenders and chopped and changed, generally right about the time I "bumped" the previous lender for payment!


since 2010, these are the deposits from PDL Compaines:


2010 - 15
2011 - 20
2012 - 35
2013 - 12
2104 - 7
2015 - 6


Funny how when the govt started clamping down a bit my number of loans started to drop as well!!!


TBH I'm not expecting anything back, that way I wont be too disappointed & all bar a couple have actually been repaid in full (although at the time a quick scan of my bank statement would have been revealing (e.g. in January 2012 I had 12 loans deposited I'm ashamed to say)....


Anyway I'll plough on with my little lot but it's good to see some people at least getting major redress and I suspect some were in a far worse position than me, so good on them.


Good luck to all.

Delete33

Nice post cashburner Like it :cool:

cashburner

stuart30 wrote: »

Update regards my claim against MyJar.

Recieved a Final Response from FOS today and he has pretty much word for word copied and pasted the wording of the adjudicator...lol

That's rubbish Stuart, does seem a bit of a strange decision. I do know that it is more likely than not that an ombudsman will uphold the decision of the adjudicator and I think when the adjudicator finds in favour of the claimant the PDL company just goes to ombudsman to delay the inevitable.


Poor decision though (based on what you've told us) and of course although there's obviously guidelines in place the FOS have to follow it may depend somewhat on the adjudicator/ombudsman's own personality and views on the whole PDL situation..... That's just human nature sadly.