Student loans and pensions

losingpoundsandgaininglbs

Hi all,

As someone who has recently decided to tackle my mounting debt problems, I came across this thread and decided to put in some claims against Wonga, Wageday Advance, Payday Express/UK and also Quickquid. Two questions:-

Wonga haven't responded at all to my query, but i've sent them 2 e-mails.... initial one and reminder, do I just leave it at that and give them 8 weeks or do I need to get a response to prove they have received it?

Also, Quickquid have replied, but have asked me to fill in a questionnaire....

Questionnaire
1) What is the funding date of the loan(s) for which you are complaining?

2) What was your income per paycheque at the time of your loan(s)?

3) What were your monthly expenses as of the time of your loan(s)?
(please include mortgage/rent, travel, utilities, payments of other credit commitments, food, and other expenses as separate items)

4) Recently, we have seen an increased number of complaints where the complainant has obtained a template from a website or blog. Did you use a website template? If so, can you please provide the name of the website?

5) Did you tell us that you were experiencing financial hardship? If so, when did you tell us of your financial difficulty?

6) Please provide a copy of a bank statement from the time of your loan(s).

7) Please provide a copy of a payslip from roughly the time of your loan(s).

So I wont remember the answer to number 5 in all honesty, but my guess is I didn't but surely that was for them to work out? 7 will be a struggle as I won't have payslips from back then. And then 4 is also interesting, why would they ask that?

So do I respond and answer the questions as best I can or is this just a delaying tactic?

lantanna

A word of warning, I passed complaints to the FOS for


Payday Uk
Money Shop
H&T Finance
Log Book Lender
Satsuma
THL Limited
Quick Quid




None of them have been upheld!!! I had more success myself and got worthwhile payouts from a lot. So just to warn you going to the FOS doesn't always result in success, so don't bank on it. Despite being in clear financial difficulty my income was deemed that the loans were affordable no matter what when they apply the affordability calculations that they use.

cashburner

lantanna wrote: »

A word of warning, I passed complaints to the FOS for


Payday Uk
Money Shop
H&T Finance
Log Book Lender
Satsuma
THL Limited
Quick Quid





None of them have been upheld!!! I had more success myself and got worthwhile payouts from a lot. So just to warn you going to the FOS doesn't always result in success, so don't bank on it. Despite being in clear financial difficulty my income was deemed that the loans were affordable no matter what when they apply the affordability calculations that they use.

Thanks for this advice, interesting to read, although disappointed for you obviously.


This has been something that's been bugging me slightly as well in that I did and still do have a reasonable income (above the national average anyway) so I may or may not be heading for the same trap door as you despite having argued pretty well that the my financial difficulties meant the loans were unaffordable and should not have been issued.


May have to be more pragmatic in my approach to offers that are made (if any) rather than trying to tear tem down for full redress.


Thanks again for the heads up.

lantanna

cashburner wrote: »

Thanks for this advice, interesting to read, although disappointed for you obviously.


This has been something that's been bugging me slightly as well in that I did and still do have a reasonable income (above the national average anyway) so I may or may not be heading for the same trap door as you despite having argued pretty well that the my financial difficulties meant the loans were unaffordable and should not have been issued.


May have to be more pragmatic in my approach to offers that are made (if any) rather than trying to tear tem down for full redress.


Thanks again for the heads up.

No worries at all - just to share some light my income ranged from 24 - 30 k over the times the loans were taken out. So not a high income by anybody's standards - but that is what I they have decided and I will go with that.


I did have one success with Payday Express through the FOS but that was more so because they had already admitted to failing on their part and provided me with a small offer they have now doubled their offer to £700 and I have went with that. Interestingly the FOS had already said there was no further action to be taken with them before they saw the letter that came in from them after their final response admitting wrong doing.


Just to summarise the success I had with others on my own - didn't pass to FOS.


Safetynetcredit - Refunded all interest and removal from credit file £3, 300.


Cash Convertors - Refund of all interest £1,500


Text Loan - Refund £130


Uncle Buck - Refund £100


Cash Genie - £224


Wonga - £50


There was a few other small ones as well, so whilst yes I've had success I did not get the success I was looking for overall. Sadly the big refund from Safety net credit was used to settle the balance with the Log Book lender.

lantanna

probed a little further into the decisions made by the FOS. Apparently if you have non essential spending on your bank statement then you are not in financial difficulty, despite having 7 or 8 payday loans all at the one time.


Non essential spending might have been a coffee in costa coffee. I didn't go out for nearly 3 years due to my money problems - yes I started the spiral of loss of control but the lenders where more than happy to help me on my way and keep me trapped there.


Just be warned, I thought the ones I passed onto the FOS would result in a refund of some sort but no..........apparently not.


8 payday loans, failed direct debits and use of a costly overdraft sub prime facility apparently only indicate poor account management if you are earning £1400. Single person with rent costing £400 a month. I just don't know how they work these things out.


Anyway just a word of warning, some good results from the FOS but it doesn't always go right.

losingpoundsandgaininglbs

Just a quick bump - any thoughts on the 7 questions above? Surely they should already have enough detail to deal with the complaint?

MARKOS72

First post back here in a while,started a new post at work so been kinda busy.Good to see many more successes happening since I last popped in

AdviceSought

Hi

What kind of info did you put in the email/letter to these companies?

Would I need to detail dates etc?

Perpetual_Miser

My complaint to Different Money Ltd had been passed to the Ombudsman (adjudicator find in favour) as Different Money failed to reply.

A bit frustrating, but I'm hoping this will go in my favour.

cashburner

losingpoundsandgaininglbs wrote: »

Just a quick bump - any thoughts on the 7 questions above? Surely they should already have enough detail to deal with the complaint?

I got the same questions off of them and just answered them in the basis that I was being co-operative.


I only ever had one loan of them though and my attitude to these is that if I get anything offered then happy days, if not I don't have any intention of wasting the time of the FOS or mine as I cant see them being upheld.


I have had success more than once though where I have only borrowed from a particular lender on a couple of occasions.