Student loans and pensions

M18461

Some advise please. I have just downloaded my credit report to send to the FOS and I have noticed 2 searches that was done in October just as I started my complaints (not got it to hand but the searches were from Instant Cash Loans). |I have not given any authorisation for any searches to be undertaken, so which ever company has done this has I think broken the law - data protection.


Who do I make a complaint to

Thank you

Delete33

I have just complained to instant cash loans through the PDUK e-mail address on DebtCamel website. They have asked for a screenshot of my Noddle credit report. We will see what happens M18641:cool:

scottish92

Hi All,

I've been reading through this thread and finally started trying to claim my interest back myself. I was earning about 1300 a month and paying the full 1300 to wonga alone repeatedly for about a year plus numerous other smaller payday loans.

I contacted them all recently asking for a summary of accounts as I am no longer with that bank account either (not for debt reasons - bad customer service) and finding all the details will be a bit harder and I have had an identical response from PDUK and Paydayexpress (I guess the same company) saying:

Many thanks for your recent contact,

This account currently has no sums due or payable. Therefore, we have no current obligation to provide a statement of account under Section 77 of the Consumer Credit Act as per Subsection (3) of Section 77 which states that “the requirement under Subsection (1) does not apply to – (a) an agreement under which no sum is, or will or may become payable by the debtor….”

If you have any questions please do not hesitate to contact one of our agents who will be happy to assist you further.

If you have any further questions, please contact us on our dedicated Customer Engagement Team who will be happy to assist you on 0800 009 4128 or 0203 697 9916 from Monday to Friday, 9:00am to 5:30pm. Please do not include any personal bank details in any email response to us.


Any idea how I would proceed here? Will I need to find exact details myself?

Thanks

sourcrates

scottish92 wrote: »

Hi All,

I've been reading through this thread and finally started trying to claim my interest back myself. I was earning about 1300 a month and paying the full 1300 to wonga alone repeatedly for about a year plus numerous other smaller payday loans.

I contacted them all recently asking for a summary of accounts as I am no longer with that bank account either (not for debt reasons - bad customer service) and finding all the details will be a bit harder and I have had an identical response from PDUK and Paydayexpress (I guess the same company) saying:

Many thanks for your recent contact,

This account currently has no sums due or payable. Therefore, we have no current obligation to provide a statement of account under Section 77 of the Consumer Credit Act as per Subsection (3) of Section 77 which states that “the requirement under Subsection (1) does not apply to – (a) an agreement under which no sum is, or will or may become payable by the debtor….”

If you have any questions please do not hesitate to contact one of our agents who will be happy to assist you further.

If you have any further questions, please contact us on our dedicated Customer Engagement Team who will be happy to assist you on 0800 009 4128 or 0203 697 9916 from Monday to Friday, 9:00am to 5:30pm. Please do not include any personal bank details in any email response to us.


Any idea how I would proceed here? Will I need to find exact details myself?

Thanks

Hi,

Yes you just make a general complaint about unaffordabillity of the loans you have had from them, without been specific.

This them means they have to delve through your old accounts in order to deal with your complaint.

You just need to attack them from a different direction that's all.

InvernessIron

Many thanks to the person above for the cash genie email addresses. I have finally had a response!

Also another £400 back from Mr Lender.

Thank you to everyone in this thread, made me chase these companies.

FourMenHadADream

First Post - thanks to the OP and all the responses since regarding PDLs.

In October I complained to QQ, P2P, PDUK, Payday Express, and Lending Stream, and Pounds Till Payday (Malta) with the most significant being the following -
* QQ - Borrowed £3,390, Paid £6,604.95, Interest £3,479.95
* LS - Borrowed £4,355, Paid £7,362, Interest £3,407

SoA were received from all lenders apart from LS, as they wanted £25, and Pounds Till Payday. I've had no response at all from Pounds Till Payday and another couple of emails will be sent over the coming days.

Lending Stream have now responded with their findings. It's taken 3 weeks but I expected a lot longer. The clock is ticking with the other lenders. LS have still to confirm if this is their final response, do I ask them to reconsider? I'm prepared to meet them halfway, and make them aware that if my complaint is uphled by FOS their reimbursement could be a lot higher with 8% standard interest added to full amount + £550 FOS fee?

Or just go straight to FOS?

Lending Stream -

Affordability Checks:

We confirm that an affordability analysis is conducted for all customers (existing or new) and on each loan application. Our advanced analytics and underwriting processes review the information provided by the customer, all public information, and details held by Credit Reference Agencies before making a decision.

• Your Experian score was 673 and above; it was factored into our proprietary underwriting and deemed acceptable
• At the time of the applications, you were employed full time
• Your monthly income at the time of applications was ranging from £1298.00 to £2190.00, along with a sufficient disposable income, which denoted that repayments towards the loans could have been made without any financial difficulties
• Apart from your Active loans, all others were paid either earlier or as per the schedule

Please note, Lending Stream expects its customers to include any current obligations due to be paid while filling the expenditure details to ensure a fair assessment of their disposable income and ability to make repayments. The data shared in your applications indicated that your monthly income well exceeded your expenses and that repayments towards the loans could have been made without any financial difficulties.

Credit file/validation:

Please note, when a customer requests for a credit report from a Credit Reference Agency, he or she may acquire specific information including names of different lenders’ and their respective reporting, however, when a financial institution does a credit search on a customer’s credit report, they are not privy to that exact information. Hence, our decision to lend money does in part rely on the information received from Experian (credit scores).

Additional Informations:

We also find it worth mentioning that by signing the credit agreement, you confirmed that you were able to afford the loan repayment and not in a DMP (Debt Management Plan) while submitting the applications. In addition to this, we would like to point out that the FCA has also encouraged borrowers to always undertake their own assessment of affordability concurrent with that undertaken by the creditor.

While reviewing the accounts, we note that Lending Stream was never made aware of your financial situation. Had we been informed, we would have definitely provided appropriate assistance as necessary.

In view of above, we confirm that Lending Stream has behaved responsibly and fairly while approving your loans.

For your reference, we have attached the statement of accounts and copy of loan agreements with this email. The password to open the documents is your date of birth in DDMMYYYY format.

Resolution:

We confirm that the affordability checks were performed with due consideration while approving your loans, we could note that there was some procedural error while approving the loans XXXXXX and XXXXXX. Hence, we offer to refund some of the interest paid on this loan (Amounting £127.80) towards your Bank Account.

We await your response to the aforementioned offer.

What say the board?

Delete33

Trivial first offer, remind LS you are escalating your complaint to the FOS:cool:

Adamsssss

So Payday UK have made an improved offer, not as much as adjudicator recommended but they will write off balance of £450 and credit my bank account with another £840 or so. Could have got maybe a few hundred more from an ombudsman review but I would rather have them done and dusted and £840 in the bank will come in handy for Christmas.

FourMenHadADream

Delete33 wrote: »

Trivial first offer, remind LS you are escalating your complaint to the FOS:cool:

Other posters on this thread have had similar first responses from LS, and they've ended up paying out far more.

M18461

Well further to my previous posts confirming that QQ are total numpties whereby they claim I could afford the loans, didn't show dependency on them and that I wasn't in hardship. I have just taken a closer look at my statements, which show.


I took my first loan out in 2009, rolled over for 6 months paid off and took out a loan the same day for a higher amount. This happened in the 4 loans, the only difference between the four loans is that my last loan was taken out in March 2011 and I didn't pay it back until May 2012, as I defaulted and it went to a debt collector.


So the way I see it and haven't got the foggiest what QQ were looking at when they made the above statements that Having 4 loans, each being rolled over for 6 months without a gap . refinancing the same day and taking over a year to pay the final loan off - doesn't show problems with dependency and affordability