Student loans and pensions

cashburner

AdviceSought wrote: »

Hi

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

Would I need to detail dates etc?

You can initially ask for a statement of account from them which will give you the facts of your dealings with them but they may drag their heels in issuing it to you.


Alternatively you can go through old bank statements to find the deposits and withdrawals there although this can be time consuming.


There's some great advice on debtcamel.co.uk with regards to content of letters/emails.


I didn't have all the info when I started but I pieced together what I could from my bank statements and then in the complaint asked for an SOA.


If you've got some older loans (outside 6 years) they may try to tell you they are time barred, this is not correct as the Ombudsman has directed that outside the 6 years if you couldn't have reasonably known you had cause to complain you have 3 years from the date that you could have reasonably known, the date in this case is in 2015 when Wonga were ruled against under similar circumstances.


Good luck.

cashburner

lantanna wrote: »

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.

Good advice again, I think I may be in a somewhat similar boat to you here and am cautious about my approach, although that wont stop me issuing to the FOS if I feel it's worthwhile.


Funny thing, shortly after your first post on this I got a call from a lender offering to write off a balance and remove the default notice.


I told them not good enough.


He asked what I would accept...


On the basis that I thought I could get a maximum award of around £1800 including 8% interest and the balance was about £700 I told him both of the above plus a goodwill payment of £500.


They accepted this and pleased to say the £500 has already been received


My feeling was that this was fair & reasonable under the circumstances, I may not have gotten anymore from the FOS than was on the table and finally £500 six weeks before Xmas would be pretty handy

lantanna

Excellent Cashburner! Def don't let it put you off, and take to the FOS any that you don't get a satisfactory offer from.


Its just good to have the knowledge so that you can bear it in mind when weighing up offers etc.


Thankfully about half off mine I settled myself with good fair offers.


The FOS pointed out that most of the ones that I did pass on didn't carry out affordability checks but as they conclude I would have passed them anyway if they had they weren't asking the companies to do anything. Any offer from a company is an admission of guilt so try and get your offer up as much as possible to something you are happy with!


Enjoy your £500!


I 'd still be stuck in hell if it wasn't for uncovering this thread! :T

sourcrates

AdviceSought wrote: »

Hi

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

Would I need to detail dates etc?

Lots of info on re-claiming interest and charges on payday loans :

http://debtcamel.co.uk/payday-loan-refunds/

MrINeedOfHelp

Is this something that can be done even if you've defaulted on payments?

Delete33

You can claim if you have had defaults:cool:

MrINeedOfHelp

Delete33 wrote: »

You can claim if you have had defaults:cool:

Great, what is the best way to contact them to get the ball rolling, what is best to say in any letters?.

Would medical evidence in terms of my state of mind help prove I was signed off work for an extended period of time showing I had a much reduced income?

Any help is greatly appreciated.

Delete33

Go to DEbt Camel website for advice and information, start with a simple E - Mail to the PDL asking for a Statement of Accounts.:cool:

MKP18461

I hate this waiting game. My complaint letters went in approximately 4 weeks ago and just now waiting for the 8 weeks to be up.


I just received an email from Wonga to say they have not been able to come to a decision but hopefully will be the 8 weeks (not from what I have read on here)


Speedycash - email received yesterday also saying unable to come to a decision but hopefully within the 8 weeks


Money Shop and PDUk - not sure if they have separated the two claims as when I wanted acknowledgement for the complaint for PDUK they said they had already emailed acknowledgement but that was for Money Shop (did send two separate emails with the company name on)


Emailed Payday Express as they did not acknowledge complaint, they have come back 3 weeks later saying they cannot open word documents so have not acknowledged my complaint. Resent it and said I want them to backdate the complaint to the original date. Responded by saying they would

stuart30

Guys hopefully a simple question.

Having had my claim with MyJar rejected by FOS (blood still boiling)...ive tried to find out what a so called affordabilty check really is.

Is it checking your Credit file (my credit history varies between the three) or checking you earn the amount you state and indeed actually work or are on the dole/esa etc.?

Seems a simple question.